Export import business in Bangladesh
How to start export import business in Bangladesh and how to apply for the same and process of application of export import license in Bangladesh? Our information is ONLY for the foreign investors as we do deal with local, Bangladeshi investors as our business policy.
Step 1: Unless register a private limited company in Bangladesh will not be allowed to apply of export import license; so, 1st job is company registration in Bangladesh from RJSC under any format of LLC (limited liability company wholly foreign owned, subsidiary, joint venture).
Step 2: Once certified copies are received may apply for Trade Licenseand Income Tax certificate and once said license is received will request your bank to issue Bank Certificate;
Step 3: After receiving Bank certificate along with certified copies (RJSC), tax certificate, office rent agreement copy apply for VAT license;
Step 4: VAT license and along with all others as above mentioning documents have to submit to any one of them Membership for Chamber of Commerce (Dhaka Chamber of Commerce, BGMEA, BKMEA, Bangladesh India Chamber of commerce, Bangladesh German Chamber of commerce, China Bangladesh chamber of commerce, Foreign Investors chamber of commerce etc); It might take 7 to 30 days receiving certification from concern chamber;
Step 5: Now apply to export import department (Motijheel, Dhaka) along with all above licenses and papers with government fees as amount of export import yearly transaction;
How long may require receiving export import license? It might need 7 to 10 days maximum to issue said license upon verification of all required papers; Extra official money might required with all licenses to be obtained, sorry to say; Main time, takes to obtain membership from Chamber.
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You have to pay customer duty to make transaction of goods and verify of original goods showing Challan and purchase copy and/ or bank copy;
Apply to IRC department, Motijheel, Dhaka office along with supporting documents:-
Import license fee in Bangladesh
|Type||Yearly Volume (Taka)||Primary Fee||Renewal Fee|
|2nd||2500000 /-||10000 /-||6000/-|
|3rd||5000000 /-||18000/-||10000 /-|
There is extra money necessary to speed up files for approval after online submission.
Export license fee is Taka 7000 and renewal fee in the amount of Taka 5000.
How can I export goods from India to Bangladesh?
Well, Obtain import license from Bangladesh and start business. First job is register LLC in Bangladesh under fdi law. Clear custom duty when imported. Select the port by what goods will enter into country. Open bank account and utilize L/C.
What are the main imports of Bangladesh?
Oil, Wheat, Rice, Machine, Motor bikes and etc are import goods in Bangladesh. Here, most of the importer and exported from India and China. Cloths goods are almost tax free, .90% tax, only.
How to import goods from China to Bangladesh?
Obtain import license from government of BD and order. Import goods enter by ship/ cargo after custom clearance. China government has no issue to export any legal goods by low tax. Bangladesh is good place of import goods from China.
What are main business between Bangladesh and India?
Trade relation between Bangladesh and India are old and strong. Many investors from India doing business in Bangladesh. As visa process is easier that makes businessmen comfortable of investment. Besides, import and export between India and Bangladesh are remarkable.