Importer of Records in Thailand is a local company importing products on behalf of a foreign third party. It can be the license holder in case of medical devices
What Is An Importer Of Record?
The Importer of Record (IOR) is officially recognized as the owner or importer of the products introduced into a destination country. Who is the IOR? It may be the owner, purchaser, or a local entity in Thailand with a proper authorization. Such authorization is provided by a specific power of attorney (POA) that we always sign with the client, that guarantee the authorization to process custom clearance and import the products. The IOR task is to ensure all goods are appropriately documented and valued during the Custom procedure: in case of Healthcare Products (e.g. Medical Devices), we take care of registration in Thai FDA holding the license on client’s behalf. Importer of Record is responsible party for the payment of duties, taxes, fees of the imported goods on behalf of the foreign client.
The product can be Licensed in FDA if the project includes sales in Thailand, or the import can be license exempted in case of temporary import.
Siam Trade Development services
Need to import Medical Devices in Thailand for test shipments, fairs, exhibitions, workshops? We can import your products for you.
What can Importer of Records do for your project?
By choosing Siam Trade Development as your Importer of Records Thailand you will exploit the following services:
- Insure the imported goods are in compliance with Thai law (with proper Thai FDA authorization/license in case of Healthcare products)
- The performance of the actual customs clearance process
- The payment of applicable tariffs and duties on your behalf
- The delivery of your products to their final destination.
Importer of Record (IOR) Role and Responsibilities
Importer of Record (IOR) are services established to provide a foreign organization to fulfill international trades’ requirements without opening a local unit. Having an Importer of Record IOR ensures faster, simpler and obstacles-free import operations.
The company that provides Importer of Record IOR services must be a Thai Company with a Power of Attorney (POA) to assume the activity of the importer. A proper contract shall be signed between the parties to guarantee the Client’s rights of ownership on the imported goods
In order to manage and supervise import, Importer of Record (IOR) have some responsibilities as:
- Classification and evaluation of the merchandise before the import.
- Licensing the product with relevant Authority whether necessary..
- Compliance with the regulations of destination country.
- Paying all the import taxes at destination.
- Presenting the necessary declarations to government agencies and Customs
- Gather and provide to Authorities all the required documentation (certifications, permits and authorizations).
What is the importance of Importer of Records Thailand?
To import any goods, it’s necessary to have an established business or a legal entity in Thailand. For this scope, Importer of Record (IOR) can assume this role by taking the responsibility of import process taking care of custom clearance and paying taxes until the delivery is fulfilled..
Importer of Record guarantee compliance with all necessary regulations and statutes; this is the ideal strategy to deal with a new country in startup pahses on the consolidation process. Siam Trade Development can provide IOR services related to any kind of product, with specific experience in Medical Devices, Food Suplements and Innovative Products.