NRI (Non-resident Importer)
Non-Resident Importer (NRI) Program
service process
For sellers wishing to sell products on Amazon (FBA or FBM), the first step is to import the products into Canada. In the case of conventional import and export, the seller must be a Korean seller (exporter) and an importer (IOR) in Canada. However, in the case of sales through Amazon, Amazon does not act as an importer, so the Korean seller has to act as an importer at the same time. For such cases, the Canadian government provides the NRI program so that business entities (individuals or corporations) who do not reside in Canada can legally act as importers (IORs) for goods imported into Canada.
Key Benefits of the Canadian NRI Program
1) Legal import into Canada as a Korean/US corporation without local legislation in Canada (Import of Record)
2) Can apply for a 5% refund of GST (Goods and Services Tax) imposed upon import into Canada
3) Cost reduction through efficient supply chain management from production-export-import-sale
Registration process for the Canadian NRI Program
NRI program registration fee and business details
Step 1. Overseas corporation registration (one-time) – $1,500 for general customers, $1,200 for True Fulfillment partners
- Registered as an overseas corporation with the Canada Revenue Agency (CRA)
- Activation of RT account for VAT (GST/HST) payment
- Activation of RM account for import/export business
- Provides basic guide/support for tax payment related to the Canada Revenue Agency (CRA)
- Professional work progress through a Canadian CPA-certified accountant
Step 2. NRI program registration (one-time) – $600 for regular customers, $450 for True Fulfillment partners
- Registered NRI with Canadian Customs CBSA (Canada Border Services Agency)
- Issuance of Importer Number
- Apply through True Fulfillment
Step 3. Accounting bookkeeping and tax reporting (continuity work) – Varies according to annual transaction performance
- Prepare/report regular financial statements (quarterly/annual)
- Quarterly tax reporting (GST/HST tax reporting)
- Annual corporate tax filing
- Acting as a business representative for the Canada Revenue Agency (CRA)
§ Accounting and tax-related inquiries can be consulted through partnered CPA-certified accountant.