FGX’s Importer of Record Service Enabled a Silicon Valley Startup to Expand its Business in Europe
Overview:
FGX’s client had landed an opportunity in the EU and needed to expand their capabilities by deploying their proprietary hardware to a datacenter in Amsterdam. Given the high-value of the shipment, a formal clearance was required.
Our client did not have a business entity that was registered to do formal imports in the Netherlands or the greater EU. The client reached out to FGX for a solution and we walked them thru the Importer of Record Service which best suited the client. The solution was tailored not only around the gear they were looking to import into the EU but also their desired timeframe.
The Challenge:
FGX was approached by a Silicon Valley start up that had recently brought on a new EU-based client. In order to fully service this new business our client would need to deploy their hardware to data centers in the region. The client did not have the usual 2-3 weeks needed to secure an import registration (EORI), so other methods had to be explored. Since their equipment was proprietary and not from a mainstream manufacturer, they needed a logistics partner who understood the additional compliance requirements.
The Plan:
FGX provided the client with two distinct options for clearing the goods into Amsterdam.
- Option 1: Register as a Non-Resident Importer (NRI) and receive an EORI Number No cost to client Requires 2-3 weeks for processing Allows for VAT reclamation
- Option 2: Utilize an Importer of Record Service Fixed fee based on shipment value Setup in 1 to 2 days No additional paperwork required
The Execution:
Prior to the shipment departing from the New York export hub, FGX manifested the shipment down to the serial number level to ensure that all of the hardware was properly received prior to international transit. The equipment was lodged on a direct flight from JFK to AMS and arrived overnight.
Since the client chose the IOR service option, FGX acted as the Importer of Record and facilitated a DDP (duties & taxes pre-paid) customs clearance. The shipment cleared customs within 1 business day and FGX coordinated directly with the receiving datacenter to setup a delivery ticket and ensure a smooth delivery.
The Result:
FGX enabled the client to rapidly expand their service offering in a new market, with no lead time or paperwork.
