Who are they for? Importers, Exporters, Logistics companies
Providing the relevant authority (typically HMRC) with a customs bond allows your business to defer duty on imports, exports, or excise duties on your goods for a defined period of time thus helping to improve cashflow. These bonds can also save your company from paying duties on goods passing through in transit. The type of customs bond you require will depend on what you are looking to achieve. Types of bonds include but are not limited to, duty deferment guarantees, movement guarantees and customs comprehensive guarantees.
Regulatory Bonds
Who are they for? Companies operating in regulated industries or sectors
Companies that operate in a regulated industry or activities such as online payment services, auctioneers and insolvency practitioners may be required to provide a regulatory bond to procure and maintain their licenses to operate. Additionally, companies that don’t have any directors who are residents within the domiciled country may, in some territories, be required to post a bond to cover potential fines for breaches of the relevant company law.
