Most Reputable Supplier /Product Sourcing Websites for Asia

[Sapele66]

Hello,

I'm interested in sourcing a single material / simple industrial product from China / Asia. I found some good prices for the product on Made-in-China.com .
Does anyone have experience with this site?

I read recommendations elsewhere for globalsources.com and some bad comments in relation to alibaba.com.

What are the best web portals for sourcing such materials?

What is the best way for a novice to proceed?

If I place a minimum order of somewhere in and around the €1000 mark am I obliged to register as a company / register with revenue/ customs?


Any advice / tips appreciated, Cheers

 

[Rudolf289]

Sourcing products in Asia

Good morning Sapele66,

Sourcing products in Asia can be challenging. I would be very cautious and try to make sure to find out as much as possible about your potential supplier(s). Check out their website, do a search on the physical address listed and ask for references of clients they have dealt with particularly in Europe. Talk to these clients and find out what they are like to deal with.

Even then, you are taking a chance. For larger values it may be worth your while to deal with sourcing companies in Ireland. They know they way in China, they are likely to have Chinese speaking (European) people on the ground in China that can do factory visits, pre-shipment inspections etc. I know of at least three companies that provide these types of services. They have access to large databases of suppliers across a wide range of products / industries. It will certainly take some - if not all - of the risks out of doing business in China.

In terms of registering with Revenue, if this is small scale business it may not be required. Only thing is, if you are a VAT registered trader (and charge VAT to your clients) the VAT you pay on imports is reclaimable and therefore cost neutral. You have to figure out what this business is likely to be in terms of size / turnover. There are thresholds that if you exceed them, you are obliged to register for VAT (Likely to be € 75K per annum). It may be worth your while to have a chat with an accountant - usually first consults are free - and get some advice.

Finally, when it comes to shipping product from China, it would be best to make the shipping arrangements (especially Oceanfreight) from this side. That gives you control and should help avoid falling into some of the traps that other people have experienced (do a search on "China Import Service Fee" on this site)

Best of luck with your venture.

Cheers,
Rudolf289