From a one tonne Perth Mint gold coin worth around $60 million to a 4x4 SUV taking part in a rally along the Silk Way, leaving Australia with such items can get tricky.
But if you get your paperwork in order through a CCI carnet, you can leave temporary importation border hassles behind.
CCI issues about 80 to 100 carnets per year, mostly for professional equipment, commercial samples, and exhibition goods. A carnet is valid for a year and is a temporary customs clearance that stops the need for raising bonds or deposit duties as you move the goods between countries.
CCI International Trade Administration Officer Faith Sapi says 77 member countries accept carnets for the temporary, duty-free importation of goods, and organising a carnet before you leave can save lots of time—and in some cases—money.
Sapi says not having a carnet when you go overseas may leave you having to fork out an on-the-sport security bond to foreign customs officials, as well as time delays and the possibility of having the goods detained.
“The issues can arise with claiming your bond back, especially when you are no longer in the country. It can be difficult to claim the money, especially in Middle Eastern countries and a few Asian countries. However, this could potentially be made easier if you have an agent overseas,” she says.
CCI provides three options for covering the taxes and duty you would pay while overseas, including a Bank Guarantee letter from your bank in favour of the Chamber, signing an indemnity or securing your bond locally in Australia.
Sapi says amounts vary depending the value of the goods and countries being visited.
She always checks with companies to see if they are eligible for Export Market Development Grants, a financial incentive available to SMEs that reimburses them up to 50 per cent of eligible export promotion expenses if total expenses are more than $15,000.
“If people are new to the export market they may not realise they’re available. It’s for newish exporters,” she says.
► Want to learn how to grow your business into a global brand? Register for CCI and the City of Perth’s Business Beyond Borders event on July 24.