CARM | What You Need to Know as a New ImporterThe process of getting started as a commercial importer can be daunting. If you’re importing commercial goods into Canada for the first time and it feels like you’re jumping head-first into the deep end of the import process, don’t worry!
Below, we’ve broken the process down into manageable steps.
Here are some action steps:
Get a customs broker. A good customs broker will be your guide through the whole process, and should be able to take a lot of the work off your plate. Your broker will require you to sign an agency agreement allowing them to act as your agent. May we suggest?
Get an importer extension. This is an extension number that is added to your business number that will identify your business when your goods are declared to customs. To get one, call the Canada Revenue Agency at 1-800-959-5525. Even if you don’t have a business number, or don’t plan to get one, you will need an importer extension. A CRA representative will be able to help you.
Set up your CARM Client Portal. Our step-by-step guide is available here. If you have any questions, our trade professionals can guide you through the process. Once your portal is active, you can delegate access to your customs broker.
For your first import, you will not need a surety bond. Once you start importing regularly, you will need to obtain a bond based on your previous payables. This is another step that your broker should be able to handle on your behalf, by alerting you when a bond becomes necessary, calculating your required bond amount and applying to a surety company on your behalf. More information about bonds is online here.
Then, import some goods! Run your dream business and make a million bucks. You’re killing it!
Finally, manage your account. The CARM Client Portal (CCP) gives you the option of taking a hands-on approach: you can pay your monthly statement balance, monitor your transactions, apply for advance rulings and more through your CCP. If you would rather delegate that authority to your broker, you can do that too. They will manage your accounting through the CCP and update you regularly.
Our best advice is to start early! Don’t wait until your goods are on their way to the border or sitting in a Canadian warehouse to get set up as an importer.
The process is usually much less involved and time-consuming than new importers tend to expect. CARM is designed to be user-friendly and intuitive to use, and very quick to set up. If you have any questions, get in touch! We’re here to help.
By Robin Smith, M.A., CCS
– Robin is a trade industry professional based in Victoria, BC.
The process of getting started as a commercial importer can be daunting. If you’re importing commercial goods into Canada for the first time and it feels like you’re jumping head-first into the deep end of the import process, don’t worry!
Below, we’ve broken the process down into manageable steps.
Here are some action steps:
Get a customs broker. A good customs broker will be your guide through the whole process, and should be able to take a lot of the work off your plate. Your broker will require you to sign an agency agreement allowing them to act as your agent. May we suggest?
Get an importer extension. This is an extension number that is added to your business number that will identify your business when your goods are declared to customs. To get one, call the Canada Revenue Agency at 1-800-959-5525. Even if you don’t have a business number, or don’t plan to get one, you will need an importer extension. A CRA representative will be able to help you.
Set up your CARM Client Portal. Our step-by-step guide is available here. If you have any questions, our trade professionals can guide you through the process. Once your portal is active, you can delegate access to your customs broker.
For your first import, you will not need a surety bond. Once you start importing regularly, you will need to obtain a bond based on your previous payables. This is another step that your broker should be able to handle on your behalf, by alerting you when a bond becomes necessary, calculating your required bond amount and applying to a surety company on your behalf. More information about bonds is online here.
Then, import some goods! Run your dream business and make a million bucks. You’re killing it!
Finally, manage your account. The CARM Client Portal (CCP) gives you the option of taking a hands-on approach: you can pay your monthly statement balance, monitor your transactions, apply for advance rulings and more through your CCP. If you would rather delegate that authority to your broker, you can do that too. They will manage your accounting through the CCP and update you regularly.
Our best advice is to start early! Don’t wait until your goods are on their way to the border or sitting in a Canadian warehouse to get set up as an importer.
The process is usually much less involved and time-consuming than new importers tend to expect. CARM is designed to be user-friendly and intuitive to use, and very quick to set up. If you have any questions, get in touch! We’re here to help.
By Robin Smith, M.A., CCS
– Robin is a trade industry professional based in Victoria, BC.
