UK Company as a trade agent

[BharathiImpex]

Hi,

Ours is a startup company in UK, buying commodities in India and shipping to another country, the company is registered in UK. What are the implications and please suggest trade policies.

The seller is being paid by UK company in USD and Buyer will be depositing USD.

Please suggest

 

[BharathiImpex]

Supply from India and delivery to Russian country. Indian Company invoice UK payment in and out from UK..

 

[mvstools]

You will need a reliable partner in India to handle your export from India to Russia in terms of custom clearance and invoicing/ payments. The picture you made is not very clear so unable to say more at this time.

 

[Dina ELTOMA CORPORATE]

Hi BharathiImpex,

If you have already registered your business in the UK, you will need to comply with corporate law and tax law in the UK (HMRC/Company House).

If you are not making sales within the UK, you may also want to bring your attention to registering a company in Singapore or HK, as in most cases they end up to be more cost effective taking in consideration tax benefits they offer.

Although Hong Kong company registration is a very popular option when dealing on the Asian market, but when you are dealing with Russia, Singapore registered company has proven to be better on many occasions (for example, when dealing with customs).

If you are having sales within the UK, such sales would always be considered as the income taxed at source (i.e. under the UK laws), so here you may have an option of having a UK company for local operations and a Singapore company for import/export outside the UK.

Of course, some cost analysis shall be applied to verify that the above would be more cost-effective in your particular case.

And I agree with MVSTOOLS comment that in most cases when dealing with India you may need some local help, however I would also like to add that same usually applies when dealing with Russia (in case you need to deal with customs clearance yourself).