Import & Export of Medical Devices involves the process of bringing medical devices into a country from foreign suppliers or exporting them to international markets. Importers source and distribute medical devices to meet the needs of healthcare facilities, while exporters sell and distribute these products globally.
Both importers and exporters must adhere to regulations and standards specific to each country, ensuring compliance with safety, quality, and labelling requirements. This activity contributes to expanding access to quality healthcare products, facilitating innovation, and advancing medical technology on a global scale.
The business activities that fall under Import & Export Medical Devices are:
Medical, Surgical Articles & Requisites Trading (4772.91): This business activity involves the trading, import, and export of medical devices used in healthcare settings. Medical devices are products used for diagnosing, treating, or preventing diseases. Trading activities in this sector include sourcing medical devices from manufacturers or suppliers in different countries and distributing them to healthcare institutions. The trading process encompasses purchasing from overseas manufacturers, managing logistics and transportation, ensuring regulatory compliance, and selling to domestic or international customers. This activity plays a vital role in providing access to essential medical devices for healthcare professionals and patients.
- Third-party Approval: No third-party approvals are required for this business activity.
- Filing of Economic Substance Return: Business activity 4772.91 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 4772.91 is exempt from this requirement.
Medical, Surgical Equipment & Instruments Trading (4773.b1): This involves the buying, selling, and distribution of medical equipment and instruments used in healthcare settings. This includes diagnostic equipment, surgical instruments, monitoring devices, and other essential medical equipment. The import and export aspect of this activity entails sourcing these devices from international manufacturers and suppliers and distributing them to healthcare providers.
- Third-party Approval: No third-party approvals are required for this business activity.
- Filing of Economic Substance Return: Business activity 4773.b1 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 4773.b1 is exempt from this requirement.
Veterinary Equipment & Instruments Trading (4773.b2): This activity involves the buying, selling, and distribution of a wide range of equipment and instruments used in veterinary medicine. Veterinary devices include diagnostic equipment, surgical instruments, monitoring devices, and specialised tools for animal care. Similar to human medical devices, the import and export of veterinary devices fall under the broader category of medical device trade. Companies engaged in this activity source veterinary equipment from global manufacturers and suppliers and distribute them to veterinary clinics, hospitals, and research facilities.
- Third-party Approval: No third-party approvals are required for this business activity.
- Filing of Economic Substance Return: Business activity 4773.b2 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 4773.b2 is exempt from this requirement.
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