Guide to starting an import export business in NYC
Starting any kind of business in NYC is a huge deal! Well done. Import-export businesses are booming in this city so you might be onto something. Obviously, you will need to conduct some serious research and this is exactly it. The guide will cast some light and point you in the right direction. So, let’s start with the most basic question “what are the costs of starting an import export business in NYC?”
The money talk
Nothing in NYC comes cheap. Even though the costs to launch an import/export company are low, they are nevertheless not insignificant. You should expect to spend between $5,000 and $30,000 to get your new import/export firm off the ground. We won’t talk more about finances since that is individual and you alone will know what to do about your finances.
Import-export license
These permissions and authorizations are typically offered at no cost to the applicant. Following the directions from the related agency, the form is all that is required of you. However, if the value of your commercial import is more than $2,500, you will be obligated to pay the bond amount regardless of whether or not you need an import license. Now, you need to find someone who can safely move your items, but before you do that, keep reading a bit longer.
The most profitable export in the USA and in NY
Refined petroleum oils, automobiles, crude oil, petroleum gases, and electronic integrated circuits were the top five most valuable exports from the United States in 2021. These top-tier exports amounted to 18.8% of all US shipments abroad. Trade Gold ($3.19B) is obviously the most popular export-import business in NYC. But diamonds ($1.4B) are a girl’s best friend, right? Platinum ($664M), jewelry ($611M), and surprisingly – aircraft parts ($601M) were New York City, New York’s top exports in August 2022. Now you need to check out some of the best neighborhoods in NYC for your business.
Finding a commercial real estate
You will obviously need some place to conduct your business and as you know this is a tricky thing in this city. To find the right place you will need to find a local realtor first. You can obviously check what’s available online but once the time to get the place comes you will need to find a professional. Just like when the time to move your goods and equipment comes you should call Courtney International Forwarding, Inc. to help you out. When starting a business you will need a lot of help.
A quick guide
You need an official application for the name of your limited liability company (LLC) specializing in imports and exports must be filed with the state. After that, “publishing” is a legal requirement in the state of New York. New York requires a lot of paperwork and procedures before an LLC may be formed there. If you need something done quickly, contact the lawyers to make sure that everything is done properly.