A Bonded warehouse is a building, installation or area approved by and under the supervision of customs where goods may be stored under the conditions laid down by the provisions in force.
Private operators are allowed to operate bonded warehouse. Are you interested in operating one? All you need to do is apply to the Commissioner of Customs clearly indicating the nature of the warehouse you want to operate.
Here are a few things you need to know
- The Customs need to approve all goods that are to be warehoused
- The license to operate a bonded warehouse is valid for one year renewable.
- Companies or individuals applying for the first time to operate a bonded warehouse are not limited to a certain period of time to accomplish all the formalities but those requesting for the contract renewal are allowed only one month period.
Requirements for licensing of bonded warehouse operators
- A letter to the Commissioner for Customs Services Department indicating good to be warehoused
- Online prescribed application form designed for licensing bonded warehouse in RESW (Form C18)
- Plan of the premises and its situation in relation to other premises and thoroughfares
- Certificate of registration of the company (if applicable)
- Current Tax Clearance Certificate
- Copy of ID or passport, C.V., valid employment contract, one recent passport size photo and a criminal record clearance certificate of the warehouse keeper
- Rental contract whose duration is longer than the duration of the license applied for or proof of ownership of the premises
- A document that indicates the land use of the promises
- A proof of submission of the return of goods remaining in the bonded warehouse (in case of renewal)