EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Limited, each of which is a separate legal entity. Ernst & Young Limited is a Swiss company with registered seats in Switzerland providing services to clients in Switzerland.
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Startup Solution Store | Customs accounts
It is recommended that companies with regular imports in Switzerland apply for a customs settlement account (to pay import VAT and other duties). Having an own account improves cost transparency and compliance for importers. Furthermore import VAT recovery and fulfilling archiving obligations becomes significantly easier, therefore it is highly recommended to setup a customs settlement account.
Challenges for startups
Registering for a customs account can be a challenging process for startups, as it involves compliance with a range of regulations and requirements. Some of the challenges that startups may face when registering for customs accounts include:
Lack of Experience: Many startups lack experience in dealing with customs and international trade regulations, making it difficult for them to navigate the complex registration process.
Financial Constraints: The costs associated with customs registration, such as fees and security deposits, can be a burden for startups that are already operating on limited budgets.
Lack of Resources: Startups often have limited resources, including time and personnel, to dedicate to the customs registration process, which can result in delays and errors.
Compliance Requirements: Customs regulations can be complex and constantly evolving, and startups may struggle to stay up-to-date with the latest requirements.
Long Processing Times: The registration process for customs accounts can be time-consuming and involve significant paperwork, which can be a challenge for startups that need to focus on other aspects of their business.
Overall, startups must be prepared to invest time, resources, and expertise to navigate the customs registration process successfully. Seeking the guidance of a customs broker or consultant can help simplify the process and ensure compliance with all regulations.
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