Iron / Aluminium scrap export business
I want set-up export business of scrap metal in UK, mainly shipping to India.
I want to find out what is needed for setting up?
Would I need to register a company here? VAT registeration? Licencing? etc.
Any guidance / help would be really appreciated
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There are two aspects of your query. Firstly what you will need to do in UK and second is related to what you would ned in India.
In the UK
You will ofcourse need to set up a company to deal with your business. There are many types of scraps in the UK which people can buy and which fall into diffetent catagories, so you will need to comprehend all the related guidelines. ie metal scrap , scrap from used batteries etc.
You can export to India in either of two circumstances
If you have a buyer or you will first Import then find the buyer for the scrap you will be Importing.
If you have a buyer then you will need his IEC code and ship the material to India. It is buyers responsibility to clear the customes duty in India.
If you are thinking of shipping it first in India and then finsing a buyer , which most of the people do as they get good rates then you will need to apply for IEC code yourself and declare the necessary requirements entailed by law.
If you need any further help, pertaining to this matter please feel to contact.
If you are setting up a new business, ContractStore has some free information that you may find useful including our Guide to Starting a Business which you can download at this link:
We also have various contract templates that you can download to use in your new business.