Import and Export Registration in Bangladesh
Import and export license registration is an important legal requirement for businesses in Bangladesh that wish to engage in international trade. Here are a few ways we help our clients with import and export license registration, renewals, and related services:
1. Expertise and Experience
Our legal team has extensive expertise and experience in import and export license registration in Bangladesh. We understand the legal requirements and challenges that businesses may face during the registration process. Our team can provide valuable guidance and support to ensure that the license is registered correctly and in compliance with all relevant laws and regulations.
2. Streamlined Process
We offer a streamlined registration process that is designed to be as efficient and hassle-free as possible. Our legal team can handle all aspects of the registration process, from preparing and filing the necessary documentation to communicating with regulatory agencies and providing ongoing support. This saves businesses time and money while ensuring that the license is registered correctly and in compliance with all relevant laws and regulations.
3. Access to International Markets
Import and export license registration enable businesses to access international markets and expand their customer base. By registering their license, businesses can engage in international trade and access new markets, which can lead to increased revenue and growth opportunities.
4. Compliance with Regulations
Import and export license registration ensure that businesses comply with all relevant regulations related to international trade. This can help businesses avoid penalties and legal action for non-compliance and can help to protect their reputation and credibility.
5. Cost-Effective Solutions
Our legal services for import and export license registration are cost-effective for businesses. We offer competitive rates and tailor our services to meet the specific needs of our clients. This allows businesses to get the support they need without breaking their budgets.
In conclusion, import and export license registration is a critical requirement for businesses in Bangladesh that wish to engage in international trade. Our legal services can provide businesses with the expertise, support, and guidance they need to register their license correctly and in compliance with all relevant laws and regulations. Our streamlined process, access to international markets, compliance with regulations, and cost-effective solutions make us the preferred choice for import and export license registration services in Bangladesh.
Frequently asked questions about IRC & ERC license registration
1. What are the Import Registration Certificate (IRC) and Export Registration Certificate (ERC) in Bangladesh?
The Import Registration Certificate (IRC) and Export Registration Certificate (ERC) are two distinct licenses issued in Bangladesh to regulate international trade. The IRC is issued by the Office of the Chief Controller of Imports and Exports (CCI&E) to businesses engaged in importing goods and services. The ERC is granted by the same authority to businesses involved in exporting goods and services.
4. What is the process for obtaining an IRC or ERC in Bangladesh?
To obtain an IRC or ERC in Bangladesh, businesses must follow these steps:
1. Visit the website of the Office of the Chief Controller of Imports and Exports (CCI&E)
2. Fill in the relevant application form for IRC or ERC, as applicable
Attach the required supporting documents, including company registration, trade license, TIN, and other relevant certificates
3. Pay the prescribed fees through a designated bank in Bangladesh
4. Submit the application to the CCI&E office
5. Once approved, the IRC or ERC will be issued to the applicant
2. What are the eligibility criteria for obtaining an IRC in Bangladesh?
To be eligible for an IRC in Bangladesh, a business must meet the following criteria:
1. The entity should be registered as a legal business entity (sole proprietorship, partnership, or company) in Bangladesh
2. The business must have a valid trade license, Taxpayer's Identification Number (TIN), and other relevant permits
3. The proposed imports should not fall under any restricted or prohibited categories as per Bangladesh government regulations
4. The applicant must have a bank account with a designated bank in Bangladesh for import transactions
5. What are the annual compliance requirements for businesses with an IRC or ERC?
Businesses with an IRC or ERC must adhere to the following annual compliance requirements:
1. Renew the IRC or ERC with the CCI&E
2. File annual tax returns and pay any outstanding tax liabilities with the National Board of Revenue (NBR)
3. Renew the trade license and other relevant permits
4. Comply with any sector-specific regulations, reporting, or inspections, as required
3. What are the eligibility criteria for obtaining an ERC in Bangladesh?
To be eligible for an ERC in Bangladesh, an exporting business must meet the following criteria:
1. The entity should be registered as a legal business entity (sole proprietorship, partnership, or company) in Bangladesh
2. The business must have a valid trade license, Taxpayer's Identification Number (TIN), and other relevant permits
3. The business must comply with the regulations set forth by the Export Promotion Bureau (EPB) and other relevant authorities
4. The proposed export products or services should not fall under any restricted or prohibited categories as per Bangladesh government regulations
6. How can LACSB assist businesses in obtaining IRC and ERC licenses in Bangladesh?
Our firm offers comprehensive services to help businesses obtain IRC and ERC licenses in Bangladesh, including:
1. Guidance on eligibility and the application process for IRC and ERC licenses
2. Assistance in preparing the required documentation, such as company registration, trade license, and TIN
3. Support in submitting the IRC or ERC application on the client's behalf to the CCI&E office
4. Tracking the application progress and liaising with CCI&E and other authorities as needed
5. Providing support for annual compliance, including license renewal