Types of imports are divided into varieties according to the method and method of payment. Before you bring or buy any product to the country, you need to know the imports and types well. It is useful to investigate what conditions apply to the product or item you are importing, what taxes you will pay, or whether you are exempt from taxes.  

What Are the Types of Imports? 

Imports That Do Not Present a Certain Characteristic 

In short, it is an external purchase process known as import. It is the most preferred type and is made within the framework of normal legislation. There are no conditions. It is enough to have a tax number and an identification number. 

Importation Subject to Permission 

The Ministry of Commerce has imposed restrictions on products and goods to be imported. According to Import Communiques and Product Safety and Inspection Communiques, some products are imported depending on the permit. Importation subject to a permit is also divided into temporary and pre-authorized items.  

Temporary Import; It is the process of exporting parts that cannot be produced or assembled in the country to abroad and bringing them back to the country because of operations. 

External Purchase of Items Subject to a Preliminary Permit; Items such as different drugs, firearms, chemicals are subject to a preliminary permit.  

Import with Waiver 

It is a type of import that is not intended for commercial gain. It is the delivery of goods to countries that do not have a tax. Personal belongings, motorized / non-motorized private vehicles, legal residence, transfer of residence are included in the import of waiver.  

Imports with Incentives 

The production of a new product or goods is a kind of exemption from all taxes and vat in the process of its export, as well as a kind of encouragement from producers. It is carried out within the framework of the investment incentive system or the internal processing regime. For example, if some parts of a machine or goods manufactured for export are imported, the imported parts are exempt from tax.  

Examples of Types of Imports 

We can give examples of import varieties as follows: 

  • Wheat, sunflower oil, automotive products are included in the type of imports that do not provide a certain characteristic. Private and legal entities with a tax number can import such products without obtaining any special permission.  
  • Imports of products such as drugs, weapons, chemicals are subject to a preliminary permit. You cannot carry out these imports without obtaining permission from the relevant ministry. 
  • A machine rented from abroad in the manufacture of the product to be exported is an example of temporary import. The machine is sent back when the lease expires. 
  • The private belongings of a person who moves his/her residence from abroad to Turkey are imported for free. 

What Are the Different Types of Imports? 

Document provision, overdraft, temporary acceptance, unconsignation (Import provided that the sale is made and the cost of the goods is transferred at the end of the term determined by the parties) imports are examples of different types of imports.  

Which of the Different Types of Imports Can Not Be Shown? 

Types of decommissioned, permissive, incentive, and commercial imports are not shown among diverse types of imports. The tax number can be carried out by persons or organizations that have a TC identification number, and have an import license. 

Import Payment Methods 

There are different import payment options available in the import process. The parties determine how the payment will be made during the import process. There are also several types of imports according to the payment method. 

Imports with Import Credit 

A letter of credit for types of import payments is a conditional bank loan. He is considered the guarantor of the person who will import. It gives the seller a guarantee that the buyer will make the payment. This form of payment also has different payment methods.  

There are different types of imports with/without confirmation, transferable, transferable, collateral letter of credit, mutual, letter of credit. 

Import of Goods for Exchange (Credit Account) 

In types of import payments, this is the method by which the buyer pays for the goods after customs clearance. Advantageous for the buyer is a risky import process for the exporter. 

d/p Payment 

In this form of payment, the seller sends the documents related to the goods to the buyer’s bank through his own bank. The buyer cannot receive these documents from the bank without paying or accepting the policy on futures transactions. 

Payment by Anticipation 

Advance payment is another form of import payment types. The buyer pays the cost of the goods before the freighting of the goods occurs or before the delivery of the freighting documents. It is important to really trust the counterparty in this form of payment.  

Acceptance Credit 

Acceptance credit is another method of payment of import varieties. It is used as a form of payment that allows imports to be realized on a term basis in exchange for a policy or draft. 

You can consult with our import consultants so that you can choose the most appropriate of these payment methods in your import process. 

Types of Import Loans 

Banks offer import credit types with different payment methods to institutions, organizations or businesses that will import. These loans are non-cash as well as cash. In this type of loan; 

  • Guarantee Letter 
  • Import Credit 
  • Blank Credit and Endorsement Loan 
  • Import Guarantee Loan 
  • Post Financial Loan 
  • Leasing, are included. 

Types of Paid Imports 

Paid import is a method of importing that is carried out by transferring foreign currency abroad in one of the ways of payment of the cost of imported goods in import. 2nd of the Import Circular issued in 2020. the import prices are clearly stated in the article. Accordingly, the types of paid imports; 

  • Contingency Annuity  
  • Deferred Letter of Credit 
  • d/p Payment 
  • Cash on Delivery 
  • Acceptance Credit with Contingency Annuity 
  • Acceptance Credit with d/p 
  • Acceptance Credit with Cash on Delivery 
  • Payment by Anticipation 
  • Bank Payment Obligation (BPO) is carried out according to the forms. 

Types of Import Letters of Credit 

A letter of credit is an overdraft account opened by a bank for certain conditions to private and legal entities that will be imported. It is subject to the brochure "An example of Procedures and Rules of Practice for Letters of Credit" (UCP 600) published by the International Chamber of Commerce. There are different types according to the type of payment.  

  • At Sight Payment (L/C); It is the payment that is made because of the receipt of the document (papers) in accordance with the terms of the letter of credit to the authorized bank.  
  • Deferred Payment (L/C); It is a method that assumes that the document in accordance with the terms of the letter of credit (papers) will be paid within the payment term specified in the letter of credit because of reaching the authorized bank. 
  • Mixed Payment (L/C); It is a letter of credit in which more than one payment method is applied. 
  • Unconfirmed (L/C); Any bank other than Amir bank does not carry a payment guarantee in this letter of credit. 
  • Confirmed (L/C); The supervisor instructs the bank to add confirmation to the bank that has notified the irrevocable letter of credit, and the notification is a method for the bank to accept the instruction. 
  • Revolving (L/C); It is applied in trade that shows continuity between the buyer and the seller. Each time, instead of opening a new letter of credit, a letter of credit is opened to cover all installations for the agreed period. It is automatically renewed. Such letters of credit are opened depending on the time or amount. 
  • Acceptance Credit with Letters of Credit; Acceptance of the term policy issued by the authorized bank upon presentation of the document in accordance with the terms of the letter of credit, allowing the policy to be paid at maturity. 
  • Standby (L/C); It is a letter of credit that is a guarantee letter. It provides payment assurance in case the buyer fails to fulfil his obligations/payment. 
  • Red-Clause Letters of Credit; It is a letter of credit that allows the buyer to pay the seller part or all the amount of the goods. It can also be qualified as a prefinance. It is indicated by writing the letter of credit in red ink.  

Imports are especially important in terms of meeting the country's insufficient need for raw materials and resources. How to import is clearly stated in laws and regulations such as the Customs Code, the Commercial Code, and the import circular. Which products are subject to import, which methods of import, and how to make a payment are processes that require expertise and experience. There are types of imports in advance, terms, letter of guarantee, guaranteed (supervisor), incentive. In recent years, overdraft accounts have been used, which are called letters of credit, which guarantee the buyer and seller. 

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