Do you know Thailand is one of the biggest producers of silver jewelry in the entire world? Not only the best silver jewelry factories exist here but you will be amazed to know that these factories have special verified certification. This makes them reliable and trusted companies. Many vendors and shop owners from all over the world come to Thailand every year to buy silver jewelry. They mostly purchase high-quality silver from wholesale companies in Thailand. Some of the best wholesale shops and/or companies in Thailand are:
Now, we will tell you how you can import wholesale silver jewelry from Thailand. Keep reading this article in order to get the most out of it. Every step explained below is of great significance. So, we recommend you to read it thoroughly!
To be honest, importing silver jewelry from Thailand is not a complicated or difficult task. As mentioned previously, hundreds of thousands of shop owners visit the country to purchase high-quality jewelry from wholesale shops.
Do you know why people prefer Thailand? Well, the simple answer is “Quality” and “Competitive Pricing.” Due to such a significant number of sales every year, the government of Thailand has worked substantially to make the overall process of importing silver jewelry easy and reliable. Now, we will talk about the whole process. Read on!
Goods involving Thailand’s import have been centralized into an online E-customs system. The importer (individual or business firm) must already have a digital certificate in order to register for the system.
Two separate and specific checks need to be made before importing. The first check is made to identify if goods require an import permit, secondly, to make sure the goods are not falling into “red line” condition.
An import declaration is submitted to e-customs systems with the arrival report of the carrying goods in the vessel once all the documents are in order.
After the vessel reaches the customs duty, a variety of taxes are applicable now.
The final step is a simple screening; where the goods are inspected.
If you want to know about the “Import Duty” or “Customs Duty” on various goods, for instance, silver jewelry, rings, bangles, and gemstones, we recommend you to read the “CDF” Category, which specifically categorizes the jewelry and watches.
Customs duty or import duty is a tax charge on the specific good that enters the country from another country. Taxes will apply to those goods which are brought by an individual or a commercial entity. All the goods regarding import in Thailand must report to the customs department.
71-13-19-90-90 is HS CODE is applicable for the silver jewelry, bangles, and rings. Customs taxes on import are:
If the special tariff is null, then the general customs duty is applicable.
The other taxes which are applicable are:
In terms of silver jewelry, the concept of excise is the same as it for other goods. It is important to know that it is a special form of consumption tax, which is imposed by the government on a wide variety of good that is imported or manufactured locally.
The taxes are applied locally on those goods which leave the factory after they are manufactured and internationally shipped after the imported cargo arrives. Goods that are subjected to excise taxes and subjected to the interior taxes, it is calculated at 10% of excise.
It is important to avail the “Import License” before you start importing goods. Likewise, it is likewise noteworthy that you comply with the rules and regulations of the concerned companies and/or agencies. In some cases, you need to acquire the certificate of origin as well.
When you opt to import specific materials such as tin ore, jewelry, tungsten oxide and/or other metallic tins, and if the quantity of the material exceeds two kilograms, then make sure to get permission from the Department of Mineral Resources. Not getting the permission certificate may create hurdles in the process of importation. So, for a smooth and reliable importation process, compliance with the rules and regulation is important.
General traditions clearing systems for the two imports and fares in Thailand require the accommodation of a Customs' fare passage frame or import section shape. The frame ought to be joined by standard transportation archives, which include: business receipt, pressing rundown, bill of filling/aviation route bill, and letter of credit. A few items may require an import/send out permit or potentially approval from applicable offices.
Silver jewelry, today, is relished for its high-quality aesthetic value. There are many sophisticated markets in the world that offer high-quality silver jewelry. However, it is worth noting that the market in Thailand is well-known and famous for its highly competitive prices and quality products.
Particularly, the capital of Thailand “Bangkok” holds a very significant value since markets here are famous throughout South East Asia and the world for their discounts on wholesale silver jewelry. As mentioned above, people will many silver jewelry markets in different regions of the world and can purchase in these markets some of the best-known brands. Nonetheless, what makes Thailand stands out is the main question of concern here.
So, let us tell you that shops in Thailand are famous worldwide for their vintage art, inexpensive prices, and discounts. While buying jewelry from any wholesale shop in Thailand, you will find that the owner of the shop has a government-issued certificate hanging on the wall. This significantly increases the reliability of the shop.
If you are a dealer or shop owner, then consider buying silver wholesale from Bangkok.
Some of the big markets are:
Buying silver wholesale form Bangkok is exciting; you will get many discounts and deals if you are buying a good amount of goods. Buying wholesale silver from Bangkok is common among big dealers; you will experience a range of discounts, from 20% to 50%.
Buying silver wholesale from Bangkok becomes more active in the season any event like Black Friday is coming up and dealers are booking and importing wholesale silver jewelry from Thailand because, in case of any event, wholesale silver jewelry in Thailand is always on discount.
Now that you have learned about the wholesale silver jewelry, how markets operate in Thailand, and how you can import silver jewelry from Thailand, it is time to tell you about the shipping companies and their services, which can be used to carry huge amount of silver jewelry cargo to other parts/countries of the world.
Shipping may vary with the metal type and quantity; there are some international shipping rates if we are talking about importing silver jewelry from Thailand. FedEx uses the system of shipping charges according to groups, Thailand is listed in region group 5 and the shipping, handling and insurance customs, taxes or rates are:
|100 oz silver||190.00|
|500 oz of silver||190.00|
|10 oz of gold||225.00|
It is a Danish business conglomerate with activities in the logistics and energy sectors. It is the largest shipping company in the world since 1966 and it is based in Denmark. Its company market capitalization is the US $35 billion
This is the world’s second largest shipping company in terms of container vessel capacity. At the end of 2014, MSC was operating 471 containers. MSC charge as much as FedEx and is reliable as well.
If we consider importing wholesale silver from Thailand, Hapag-Lloyd is multinational German-based shipping company and it is suited for the job.
Buying silver wholesale from Bangkok or, wholesale silver jewelry in Thailand; purchasing and trading locally deal in the local currency of Thailand. Before importing silver jewelry from Thailand, international rules and regulations will play its role. Thailand handles its import/export on a documentary basis. This business uses various methods of financing and trade facilitation such as the letter of credit, bank drafts, and wire transfer trades.
Once the importer establishes a good payment record and clean from any legal issue and the firm is happy with the importer’s trustworthiness, it is highly advisable to provide more lenient terms.