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From now on.
Amazon Europe before most newly registered sellers go online
KYC Audit Process to be Significantly Simplified
Previously, a number of company and personal information had to be submitted for review before going online on Amazon Europe. Now that the process has been simplified, most sellers, after completing the registration and basic store qualification review, can switch to the European site on the seller platform, improve the beneficiary information, and then do not need to submit more materials, you can pass the simplified review, and immediately start the sales journey in the European site. The verification time, which may take several weeks, will be greatly reduced.
01
What does it mean to have a streamlined KYC review process before going live?
For the vast majority of new sellers, you'll be able to get online faster than ever before!
For sellers who have other Amazon sites but have not yet opened the European site, you can also use the registered account, follow the new process (logging in the European site seller platform, update and complete the beneficiary information), quickly online European site!
02
Will there be no more KYC audits?
KYC Audit is still in progress. In the following cases, sellers are required to provide appropriate documents and information for KYC audit.
1. Store account receipts close to 15,000 euros
Once the Seller has opened a sale and the store account is approaching €15,000, the Seller will be required to provide additional information for the verification process. During the verification process, the store can still sell as normal, but the seller needs to pass the verification before the store reaches €15,000, otherwise the sale may be limited until you pass the verification and the store can be reactivated and the sale can be resumed.
2.Change key store information
Sellers may also be triggered for review if they change key information in the back office, such as credit card information, beneficiary information, etc. If they are triggered for review, they must provide the required documents as soon as possible to complete the review. If a review is triggered, the seller must provide the required documents to complete the review as soon as possible, otherwise the sale may be restricted.
In addition, in a few other cases, based on an evaluation of the information provided by Sellers on the Platform, Amazon may require Sellers to submit materials and information for review either before or after Sellers go online. Sellers are required to complete the review as soon as possible, otherwise the store may be restricted.
Of course, sellers do not need to worry too much, we provide you with comprehensive KYC customs clearance guidance to help you quickly get the KYC review, the smooth sale of goods.
03
Pre-launch KYC Process Simplification FAQs
However, if you want to "dig gold in Europe", first of all, you have to ensure compliance! Tax compliance has also become the platform stationed, the normal operation of the store, the goods safely out of the sea of the most basic, the most important a key factor.
Completing European Value Added Tax (VAT) compliance is the first step in ensuring that your store sells well and stays in business for a long time, and VAT registration, filing and payment are essential. Simply put, if you generate stock in the UK or EU, you need to apply for a VAT number for the country in which the stock is held.
UK Station VAT Compliance Notes
Starting from last year, the UK tax authority (HMRC) has stepped up its scrutiny of VAT registrations, and there is a high probability that sellers will be asked by HMRC to fill in a questionnaire and provide additional information after completing the submission of the basic information for VAT registration. As a result, the overall registration time from the submission of application materials to the issuance of a VAT number in the UK has increased.
Currently, Amazon provides sellers with a 90-day grace period, and if you can provide Amazon with the relevant documents, you will be able to get an additional 30 days (total of 90+30 for a total of 120 days). This means that sellers have 120 days to wait for the UK VAT number to be issued, which gives them more time to complete compliance.
Green circle accounting firms for the United Kingdom local accounting firms have a mature VAT registration reporting process, the United Kingdom VAT service has always maintained the industry faster and more stable time, the entire registration process from the submission of the application, preparation materials, materials, questionnaire response to the final VAT tax number is only 2-3 months time, help you faster into the warehouse ~!
Note when registering for a UK VAT number:
1. Simultaneous preparation of basic application materials and supplementary materials at the initial stage of registration;
2. Be sure to upload your tax ID number in time to avoid account restrictions;
3.Don't open UK FBA warehouse for shipment without UK VAT number (when you can't ensure that the number will be issued within the grace period).
VAT Compliance in Germany
Pursuant to the new amendments to the German VAT Act, the triggering of the German VAT liability requires the registration of the German VAT number beginning with DE ("Umsatzsteuer-Identifications number") and its uploading to the Vendor's platform, otherwise the sales rights of the German sites will be restricted. Otherwise the sales rights of the German site will be limited.
We recommend that you take note of this when registering your German VAT number:
Upload your VAT number in a timely manner before making a cross-border shipment or creating a shipment; failure to do so may result in closure of your store within 24 hours.
VAT compliance is an important prerequisite for you to sell in Europe, and it is also the key to unlocking various European expansion tools such as Amazon Logistics and Amazon VAT Calculation Services.
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