Registering your business is integral to your success.
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. The European Commission notes that traders themselves have been calling for a standard numbering system which is unique to each individual. EORI is also implemented so it can also serve as a proof that your business is valid throughout the European Union.
An EORI is a unique number that you can use when dealing with the customs and the authorities. If you plan to sell your products in any of the European nation, 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.
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.