In this article, you will learn about how to obtain export import license in Bangladesh. Any business that’s looking to do international trade and invest in Bangladesh needs this license.
The export license is basically a permission slip from the Bangladeshi government. It allows a business to buy goods from other countries (import) or sell goods to other countries (export).
There is a list of particular documents that are required for this license that businesses must present. Once they have the documents, they must follow a process to be issued this license. You will learn about both parts from us in this article.
Importance of Export Import License in Bangladesh
Along with meeting certain legal requirements, there are other reasons why you need an export import license in Bangladesh. Here are some of them:
- Legal Compliance and Regulation Adherence: As mentioned, if you are looking to import and/or export, then you need an import-export license to show that you meet and follow legal requirements and regulations. ,The government passes these rules and regulations and not meeting them can result in harsh punishments. But meeting them shows that you are trustworthy and credible.
- Facilitation of International Trade: The export import license is the ticket you need to show for your business to participate in international trade activities. The license will allow you to legally import and export particular goods across countries and international borders. Not having a license will cause customs to stop your goods from moving from one place to another. The license will help your business function more efficiently.
- Access to Government Incentives and Support: In certain cases regarding certain goods, import and export businesses can receive incentives and support from the government. However, only businesses that are licensed and can show it will be eligible for these government incentives and support. It might not seem like it initially, but these incentives and support can greatly help when they compete with other businesses.
- Enhanced Market Opportunities: With an export-import license, you will be able to attract many more clients since you will be taken as someone who’s reliable and trustworthy. The license will be a beacon for a wide range of market opportunities. The license allows import-export businesses to leverage new market trends and consumer preferences more.
- Contribution to Economic Growth: Since the process of getting an export-import license in Bangladesh is simplified, more businesses are willing to get it. This, in turn, encourages more international trade and investment, and that snowballs into more employment, foreign exchange earnings, and other economic growth.
Required Documents for Export License in Bangladesh
- A copy of the company’s trade license, duly attested.
- A valid membership certificate from the Chamber of Commerce is attested.
- VAT registration certificate.
- The joint registered agreement, attested copy.
- A copy of the incorporation certificate is attested if it’s a limited company.
- Memorandum of Association and Articles of Association attested copies.
- Original treasury challan.
- Partnership deed for partnership businesses.
- Financial or bank solvency certificate for the company, attested copy.
- Tax clearance certificate (TIN) from the previous year.
- Office rent agreement.
- Details of employees, including their salary and nationality.
- Passport-sized photographs of the managing director/entrepreneur.
- Citizenship certificate of the directors, attested by the Word Commissioner.
- National ID card of the managing director.
- A copy of the passport and work permit are required for foreign directors.
Required Documents for Import License in Bangladesh
- A copy of the company’s trade license is attested.
- Membership certificate from the Chamber of Commerce, attested.
- VAT registration certificate.
- A copy of the joint registered agreement has been attested.
- A copy of the company’s incorporation certificate (if it’s a limited company) is attested.
- A copy of the memorandum of association and articles of association has been attested.
- Original treasury challan.
- Partnership deed for partnership businesses.
- A copy of the company’s financial or bank solvency certificate is attested.
- Tax clearance certificate (TIN) from the previous year.
- Office rent agreement.
- Details of employees including their salary and nationality.
- Passport-sized photographs of the managing director/entrepreneur.
- Citizenship certificate of the directors, attested by the Word Commissioner.
- National ID card of the managing director.
- A copy of the passport and work permit are required for foreign directors.
Learn about the documents you will need to register a foreign company in Bangladesh from experts like us.
Obtain an Import License in Bangladesh
You now know which documents you need so you are ready for the next step. Learning how to obtain export import license in Bangladesh or at least the import license in Bangladesh.
Get the IRC Application Form
Start by obtaining the IRC application form either from the CCIE office or their official website. This form is necessary to initiate the process of obtaining an Import Registration Certificate.
Complete the Application Form
Carefully fill out all sections of the IRC application form with accurate information. Ensure that no fields are left blank to avoid any delays in processing.
Prepare Required Documents
Gather all the documents required for the IRC application. These documents typically include business registration certificates, tax documents, and any other relevant certificates or agreements.
Submit Application and Documents
Take the filled-in application form along with the required documents to the dispatch section of the CCIE office. Submit them for review and further processing.
Pay Registration Fees and Passbook Costs
Proceed to Sonali Bank or Bangladesh Bank to deposit the registration fee and the cost of the passbook. This payment is mandatory to move forward with the application process.
Obtain Treasury Challan Copies
Collect three copies of the Treasury Challan as proof of payment for the registration fee and passbook cost. These copies will be needed for documentation purposes.
Receive IRC and Passbook
After the submitted documents are verified, CCIE will issue the Import Registration Certificate (IRC) along with the passbook to the applicant. These documents are crucial for conducting legal import activities.
Obtain an Export License in Bangladesh
Here is the second part of how to obtain an export import license in Bangladesh. The process is similar, but there are differences.
Collect the ERC Application Form
Visit the CCIE office or website to get the ERC application form. This form is necessary to apply for the Export Registration Certificate.
Fill Out the Application Form
Completely fill out the ERC application form with accurate information. Ensure all sections are properly filled to avoid delays in the process.
Gather Required Documents
Collect copies of all the documents required for the ERC application. These documents may include business registration papers, tax documents, and other relevant certificates.
Submit Application and Documents
Take the filled-in application form along with the required documents to the dispatch section of the CCIE office. Submit them for further processing.
Pay Registration Fee and Passbook Cost
Deposit the registration fee and the passbook cost at Sonali Bank or Bangladesh Bank. This payment is necessary to proceed with the ERC application.
Collect Treasury Challan Copies
Obtain three copies of the Treasury Challan after completing the payment process. These copies serve as proof of payment for the registration fee and passbook cost.
Receive ERC and Passbook
After verifying the submitted documents and confirming the payment, CCIE will issue the Export Registration Certificate (ERC) along with the passbook to the applicant. These documents are essential for conducting export activities legally.
It is a good idea to consult with the best company lawyer you can afford before applying for these licenses.
Conclusion
As you can see, the answer to how to obtain an export-import license in Bangladesh isn’t that complicated. But it might seem like it for those who don’t have our expertly made guide. You will need legal help in certain areas, but LegalAdviceBD is here to provide that for you at all times.