Import Registration Certificate (IRC)
In Bangladesh, an Import Registration Certificate (IRC) is a mandatory document required by businesses or individuals engaged in importing goods into the country. Issued by the Office of the Chief Controller of Imports and Exports (CCI&E) under the Ministry of Commerce, the IRC serves as a permit authorizing the holder to bring goods into Bangladesh for commercial purposes. Here’s an overview of the Import Registration Certificate (IRC) process in Bangladesh:
- Purpose and Regulation: The IRC is regulated under the Import Policy Order (IPO) issued by the Ministry of Commerce. Its primary purpose is to regulate and monitor the importation of goods into Bangladesh, ensure compliance with trade policies, and facilitate economic activities.
- Eligibility and Application: Businesses or individuals intending to import goods into Bangladesh must fulfill certain eligibility criteria to obtain an IRC. Typically, applicants must be registered with the relevant government authorities, such as the Registrar of Joint Stock Companies and Firms (RJSC), and possess a valid trade license. The application for an IRC is submitted to the Office of the Chief Controller of Imports and Exports (CCI&E) through an online platform or in person.
- Required Documents: The application for an IRC must be accompanied by various documents, including:
- Trade License
- Income Tax Certificate
- VAT Registration Certificate
- Memorandum and Articles of Association (for companies)
- Bank Solvency Certificate
- National Identity Card or Passport of the applicant
- Proforma Invoice or Contract indicating the goods to be imported
- Verification and Approval: Upon receiving the application and supporting documents, the CCI&E verifies the information provided and assesses the applicant’s eligibility. If the application meets the requirements, the CCI&E issues the Import Registration Certificate (IRC) to the applicant. The certificate contains details such as the importer’s name, address, registration number, validity period, and any specific conditions or restrictions imposed.
- Validity Period: The Import Registration Certificate (IRC) is typically valid for one year from the date of issuance, renewable upon application to the CCI&E. Importers must ensure that their IRC remains valid throughout the importation process to avoid any disruptions or delays in customs clearance.
- Compliance and Renewal: Importers are required to comply with the terms and conditions specified in the IRC and adhere to import regulations and procedures. Additionally, importers must renew their IRC before the expiration date to continue importing goods into Bangladesh legally.
In summary, the Import Registration Certificate (IRC) is a crucial document for businesses or individuals importing goods into Bangladesh. It facilitates trade activities, ensures regulatory compliance, and contributes to the overall efficiency of the importation process.