Rules for import and export licenses 2021-2022

 Rules for import and export licenses 2021-2022

 In this era of the Fourth Industrial Revolution, the free market economy, globalization and at the same time the continuous advancement of information technology have made it impossible to keep trade and commerce within the borders of any country or continent.

Due to the huge demand for some Bangladeshi products in the international market, there is also a demand and shortage of foreign products in Bangladesh, which has opened the door of possibilities in the import-export sector.

If any trader or industrialist wants to import any raw material or commodity from abroad, then if he wants to export any product produced in Bangladesh to foreign market, it is mandatory to have his import and export license.

Assalamu Alaikum Friends In today's article I will discuss with you how to apply for Import and Export License or IRC and ERC for short.

The regulatory authority for issuing and renewing this license is:

Office of the Chief Controller of Imports & Exports (CCI & E)

First let's find out who can get this license-

Any proprietorship concern or sole proprietorship

No partnership firm

Or any limited company

Import and export licenses are two different licenses and have to be taken separately, but the process is the same.

What documents are required to apply for an import or export license:

1) will need a trade license;

2) Membership Certificate of the concerned Chamber of Commerce or any of the recognized recognized trade associations will be required;

[For those who are new, the Chamber of Commerce is a business organization, each district has a chamber of commerce, you can become a member there for a fixed fee. There are also various recognized trade associations such as BGMEA, an association of garment owners and manufacturers.

3) TIN certificate of the owner;

 

4) national identity card of the owner;

5) passport size photo of the owner;

6) Bank Solvency Certificate;

7) Copy of VAT Registration Certificate;

If your organization is a partnership firm, a copy of the partnership agreement;

If your organization is a limited company then copy of Memorandum of Association, Articles of Association and Certificates of In-Corporation approved by RJSC.

Names, addresses of the directors of the company, trade license in the name of the company, TIN certificate, VAT registration certificate etc.

And the receipt of deposit after depositing the money of the prescribed fee in Bangladesh Bank or the designated branch of Sonali Bank through treasury invoice in the code prescribed by the government.

How much is the fee for IRC and ERC licenses?

You can see the list of fees on the screen, these fees may be updated more or less at different times and may be accompanied by 15% VAT and other charges, so to know the exact amount of fees, visit the relevant website or contact the office.

This application can be done both offline and online.

In case of offline, you have to go to the head office of the regulator of import and export from Dhaka or to your respective regional office and submit a copy of all the supporting documents in the prescribed form.

And in order to go online, you have to login to CCIE's web application, input the required information, upload all the supporting documents by scanning and submit.

If all goes well, IRC or ERC certificates are usually available within 2-3 days.

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