A trader must obtain Licence Approvals for regulated goods before he/she can import or export these goods. The Licence Approval gives the trader the right to import or export goods for a certain period of time and/or for a certain quota.
A trader must obtain Permit Approvals before he/she can import or export certain classes of goods. The application must be made before the import or export of the good(s).
The same Permit or Licence can be used for multiple shipments as long as it is still valid and the approved quota is not exceeded.
A trader’s licence is a licence that allows traders to conduct trade legally. It is paid annually and expires on the 31st of December each year irrespective of the month it was issued. The payment of a trader’s licence depends on the value of the present stock value. The breakdown is as follows:
Stock valued at less than $1,000.00 - $20.00
Stock valued at more than $1,000.00 - $10,000.00 - $50.00
Stock valued at more than $10,000.00 - $100,000.00 - $100.00
Stock valued at more than $100,000.00 - $1,000,000.00 - $250.00
Stock valued at more than $1,000,000.00 - $1,000.00
A credit voucher will then be issued by a consumer affairs officer based on your present stock value. The credit voucher is paid at the Treasury Department and the treasury receipt is returned to the Department of Trade. Upon receiving the receipt the Department will issue the trader’s licence certificate which must be displayed at all times on the business premises in a conspicuous place, to be seen by a consumer affairs officer upon his or her visit.
Any person who carries on trade without a valid traders licence is guilty of an offence and is liable to:
(a) A fine of two thousand five hundred dollars ($2,500.00) or
(b) The confiscation of his goods on the premises