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What is an EORI Number and Why You Need It

May 10, 2020 | Business

Registering your business is integral to your success. In partial fulfillment of registering your business, you need to have an EORI Number. EORI number stands for Economic Operators Registration and Identification number.

Benefits of having an EORI Number for your Business

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It allows you to freely sell your goods because your business is recognised by the law. In European countries, registering your business gives you a unique identification number called the EORI number, or Economic Operators Registration and Identification number.

Having an EORI number is an essential part of your business registration. Because every business — no matter how big or small — requires the completion of registration, and having an EORI number authenticates your business.

The EORI system was established to implement the security measures introduced by Regulation (EEC) No. 2913/92, as amended by Regulation (EC) No 648/2005 of the European Parliament and Council.

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The European Commission notes that traders themselves have been calling for a standard numbering system that is unique to each individual. EORI is also implemented so it can also serve as proof that your business is valid throughout the European Union.

What is an EORI Number?

An EORI is a unique number that you can use when dealing with customs and the authorities. If you plan to sell your products in any of the European nations, you need to have an EORI number so you can import your items into any of the European nations.

EORI is obtained from the customs of your country before starting a business in Europe. It signifies that you are eligible for trade and commerce in Europe.

Whether it is an entry or an exit summary, you are required to lodge a customs declaration, especially if you are a brand, you are an authorised economic operator.

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Without an EORI, it will be difficult for you to complete the entry and exit of your products from the EU because your goods will end up in the hands of the customs department of the concerned nation instead.

This isn’t a wise business practice as it can leave you with a lot of loss. That’s why many entrepreneurs who wish to secure their business from legal issues make it a priority to get an EORI before starting their e-Commerce business on the Amazon Marketplace.

The EORI number is issued by the European country where you are importing your products – and it’s honored anywhere in Europe. Even though the UK has exited the European Union, the EORI is still effective there.

Regardless if you have a VAT or not, you can apply for an EORI number; you can even apply for one online. However, the process requires proper attention.

It is important that you keep your application free from any mistakes because even the slightest of errors can lead to rejections – and that’s where Sterlinx can help you.

Sterlinx is known to have trained Professionals Amazon Accountants and Lawyers who are at your service in every task you’re required to finish and we will keep your business running smoothly while you focused on planning your expansion to Europe.

Contact us and our experts who are experienced in filing thousands of EORI and other registration files that can help you avoid common errors.

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