Obtaining an Import Registration Certificate (IRC) in Bangladesh

For Bangladeshi entrepreneurs looking to engage in international trade, obtaining an Import Registration Certificate (IRC) is a crucial step. An IRC is a mandatory document required by the Bangladeshi government for anyone looking to import goods into the country. This article will provide an overview of the process of obtaining an IRC and its importance for Bangladeshi businesses.

The first step in obtaining an IRC is to submit an application to the Chief Controller of Imports and Exports (CCI&E) or its local office. The application form can be obtained from the CCI&E office or downloaded from their official website. Along with the completed application form, the applicant must submit the following documents:

1. Trade License
2. Income Tax Certificate
3. Bank Solvency Certificate
4. Partnership Deed (if applicable)
5. Memorandum and Articles of Association (in case of a limited company)
6. National ID card or passport of the applicant
7. TIN certificate

It’s important to ensure that all the documents are accurately filled out and duly attested as per the requirements of the CCI&E.

Once the application and documents are submitted, the CCI&E will review the application and conduct a physical verification of the business premises. This is done to verify the existence of the business and its compliance with import regulations. After successful verification, the CCI&E will issue the IRC to the applicant.

The IRC is vital for Bangladeshi businesses for several reasons. Firstly, it is a legal requirement for importing goods into Bangladesh. Without a valid IRC, businesses are not allowed to engage in import activities, and attempting to do so can result in legal consequences.

Secondly, the IRC is essential for establishing a business’s credibility with foreign suppliers. International suppliers often require proof of an IRC before entering into trade agreements with Bangladeshi businesses. Having a valid IRC demonstrates that the business is legally authorized to import goods and can fulfill its obligations.

Furthermore, the IRC allows businesses to enjoy certain benefits and facilities provided by the government. For instance, IRC holders are eligible to apply for various types of import licenses, duty drawbacks, and other incentives offered by the government to promote international trade.

In conclusion, obtaining an Import Registration Certificate (IRC) is a fundamental requirement for Bangladeshi businesses seeking to engage in import activities. By adhering to the prescribed application process and submitting the necessary documents, businesses can ensure compliance with import regulations and gain access to the myriad benefits associated with holding an IRC. Therefore, for entrepreneurs looking to venture into international trade, obtaining an IRC should be a priority to establish their legitimacy and facilitate smooth import operations.