Tuesday 6 October 2009

Additional Costs of Exporting to Venezuela

Recently, I have the misfortune to witness the immense red tapes it took me to process the shipping documentations and procedures just to ship some products to Venezuela. Officially it is called the Bolivarian Republic of Venezuela and the people there speak Spanish. Population about the same as Malaysia ,26m.
Be ready to cover all hidden costs and set your selling price straight or you may end up a few thousand ringgit poorer.
Almost all shipping docs must be endorsed by various approving authorities before you may ship or unload your cargo at destination.
For a start,

EXPORT TO VENEZUELA ---Legalisation of documents
Docs required:
1. Registration of Co. cert (ROC).. Form 9
2. Memorandum of Article & Association
3. Particulars of Board of Directors ..Form 49
4. Company registered address..Form 44
5. Manufacturing license
6. General commercial letter
7. Certificate of Origin (CO)
8. Commercial Invoice
9. Packing List
10. Bill of Lading

Most of these docs have to be notarised by a Notary Public, Authenticated by the Ministry of Foreign Affair and then legalised by the Venezuela Embassy.
Of course, the CO has to be issued by FMM or the Chamber of Commerce.

Moneywise, it will cost RM50 to get each docs notarised and RM199 to get each doc(6~10) legalised by the Venezuela Embassy. We are grateful that Wisma Putra does not charge anything, I think. By the way, it costs RM266 to get the CO legalised by the Venezuela Embassy!
(Well, just a rubber stamped..)

All in, minimum RM1542..it may be more.

And mind you, we have not even touch on the port, forwarding, Custom, etc charges at destination yet.

So for those of you who are thinking of exporting anything to this South American northern coastal country, compute your costing carefully to recoup your profit margin.

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