The Economic Operator Registration and Identification is a system that was introduced in 2009 and is now fairly important for the tracking and monitoring of shipments of freight moving across the entirety of the EU. However, what does it do, and how do you get one if you’re a VAT registered company?
So what is the Economic Operator Registration and Identification system?
To begin with, it’s important to know precisely what The Economic Operator Registration and Identification system are. The entire process is vital for the tracking of freight as it moves around the EU, and each number is unique. Is it assigned to an individual legal identity, which can be a sole trader or a company, or even just an individual? It is allocated to you by the member state you’ve originated from, so in the case of the UK, the number is issued by the HMRC. This number is crucial if you wish to trade goods with any organisation that is based outside of the EU, as the freight will be unable to leave without it.
How does a company get an EORI number?
As is the case with many different types of processes and legal requirements, the central government website has the form that businesses or anyone looking to get an EORI number will need to fill out, available to be applied online for convenience. There are many different details which will need to be put onto the form for it to be sent off. While these will include basic information such as the name of the applicant, their position within the organisation and contact details, there is other information that will be needed. For the application to be successful if you are a VAT registered company, you’ll need to provide details which include the VAT registration number, the name of the company that the VAT has been registered to, and other similar details. It’s worth noting that the information provided must be correct and match up with the information currently held by the HMRC. Otherwise the application can be delayed and in some cases rejected. Once you’ve uploaded this form with all the details, you will then need to wait three days at least before the application is processed. In most cases, you will receive confirmation, along with your EORI number, in an email.
Overall, the process that is required for an EORI number to be awarded to a VAT registered company is not necessarily complicated but does require fully accurate details and exceptional care to be taken when it comes to filling out the correct paperwork. For many companies, trading on an international level will significantly broaden the number of customers and clients they can receive, and being able to operate outside the EU will broaden this number further, so it is absolutely vital that an EORI number is obtained with as little hassle as possible, to ensure a swift transition to global trading.