IRC

A business entity that is interested in importing raw materials or other specialized commodities into Bangladesh is required to have a valid Import Registration Certificate (IRC). This document is a legal requirement. In order to get an Import Registration Certificate, it is helpful to be aware that this certificate is issued by The Office of the Chief Controller of Imports & Exports (CCI&E) which is an independent institution under the Ministry of Commerce, and that the Import Policy Order 2015-2018 serves as the legal foundation for this certificate. There are no restrictions on value or quantity for items that can be imported into Bangladesh, and no permission is required to do so from any Bangladeshi authority. However, an Import Registration Certificate (IRC) or an import license is required in order to bring in any item that falls under this category.

Categories:

There are three categories of applicants that want to join the IRC as members. Document requirements are subject to the kind of candidate being considered. The following items are required as part of your submission. Various Categories of Applicants:

1. Individuals or businesses entities run in proprietorships,
2. Partnerships, or 
3. Limited liability companies

Before submitting your application for an IRC certificate, you are required to be a member of a recognized trade association or chamber of commerce. In general, the following three kinds of Membership Certificates are acceptable: 

1. Any Chamber of Commerce. 
2. Trade organization such as Bangladesh Garment Manufacturers and Exporters Association (BGMEA) or The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) 
3. Associations which are approved by the government such as Certificate of Electric Association in the event that electric items are imported or Certificate of Plastic Association in the event that plastic products are imported.

You are required to submit an application to the relevant Chamber of Commerce, Trade organization, or Government-approved association in accordance with the procedure that is specified by that body in order to get a membership certificate. The involved Chamber or Trade Association determines the cost of the certificate as well as the documentation that must be submitted.

The Process:

The applicant is required to obtain the Form of IRC from the CCI&E office or the official website, fill it out, and then send it to the Dispatch Section of the CCI&E office together with any supporting documents. The registration fee as well as the cost of the passbook are must be paid at the Bangladesh Bank or Sonali Bank, and 3 copies of the Treasury Challan are required to be acquired.

In order to obtain the Import Registration Certificate, the applicant must provide the CCI&E office with a properly filled out application form, as well as the necessary supporting papers and a Treasury Challan. The applicant will get their Import Registration Certificates, along with their passbooks after the CCI&E has authenticated all of the documentation they have provided.

Along with photocopies, it is strongly advised that you hand in the original papers for verification purposes. This will make the procedure much faster. The original papers are going to be handed back as soon as the verification is concluded. Each and every document has to be properly attested by a first class gazetted official, a magistrate, or by a public notary.

Individual or Proprietorship Firm:

Here is the list of the probable documents that are required for an IRC certificate:

1. Valid mobile number.
2. Valid email address.
3. Recent passport sized photographs of the applicant.
4. National ID or passport of the applicant.
5. Valid original copy of membership certificate of any trade organisation.
6. Recent original copies of bank statements and bank solvency certificate.
7. E-TIN certificate (Contact ABC Partners if you do not have one).
8. Valid original copy of the trade licence (Contact ABC Partners if you want to procure trade licence).
9. Predetermined government fees.
10. Prior approval letter for special business.

Partnership Firm:

Here is the list of the probable documents that are required for an IRC certificate:

1. Valid mobile number.
2. Valid email address.
3. Recent passport sized photographs of the partners.
4. Copies of National ID or passports of the partners.
5. Valid original copy of membership certificate of any trade organisation.
6. Recent original copies of bank statements and bank solvency certificate.
7. E-TIN certificate (Contact ABC Partners if you do not have one).
8. Valid original copy of the trade licence (Contact ABC Partners if you want to procure trade licence).
9. Partnership Agreement.
10. Registration Certificate of Partnership.
11. Predetermined government fees.
12. Prior approval letter for special business.

Private Limited Company:

Here is the list of the probable documents that are required for an IRC certificate:

1. Valid mobile number of the managing director of the company.
2. Valid email address.
3. Recent passport sized photographs of the managing director of the company.
4. National ID or passport of the managing director of the company.
5. Valid original copy of membership certificate of any trade organisation.
6. Recent original copies of bank statements and bank solvency certificate.
7. E-TIN certificate (Contact ABC Partners if you do not have one).
8. Valid original copy of the trade licence (Contact ABC Partners if you want to procure trade licence).
9. Memorandum of Association and Articles of Association.
10. Certificate of incorporation of the company.
11. Predetermined government fees.
12. Prior approval letter for special business.

Renewal:

The validity of the IRC is for one year and the IRC has to be renewed on an annual basis. The applicant is responsible for gathering all of the necessary paperwork for the renewal. Payment of the yearly renewal charge must be made at either the Sonali Bank or Bangladesh Bank. At the bank, you are required to provide an IRC that has expired in addition to a copy of the Treasury Challan. Following the completion of the verification process, CCI&E will provide the updated IRC Certificate.

In order to renew the licence, the applicant needs to produce the following documents:

1. The original copies and 2 photocopies of the expired IRC and Passbook.
2. An application for renewal submitted by the applicant.
3. Original copy along with 2 photocopies of the treasury challan for the yearly renewal fee, which may be submitted at the Sonali Bank or Bangladesh Bank.

The processing period for IRC renewal typically takes between four and five business days.

Fees:

On the basis of the value limitation of their total yearly import, the importers have been divided into six different groups. The following is a list of the initial classification and registration costs as well as the yearly renewal fees:

How ABC Partners can Help?

ABC Partners is a full-fledged corporate law firm, which indicates that the company’s primary objective is to provide clients with a broad variety of legal services rather than specializing in any one particular sector of the legal profession. It is one of the biggest and most well-respected law firms in Bangladesh, and it provides clients with legal advice that satisfies their requirements and expectations. These clientele include clients from Bangladesh as well as clients from other countries. ABC offers a wide variety of services relating to business incorporation, including acquiring ERC and IRC registrations, name clearing certificate, VAT and TIN numbers, and trade licenses, among other things. ABC is staffed with legal professionals that are able to provide a trouble-free legal procedure and help clients secure the necessary certificates and licenses for incorporating a company.

The following list of services, which ABC Partners provide in order to receive an Import Registration Certificate:

ABC has a team of wonderful and capable staffs that is able to progress swiftly forward in the process of acquiring an IRC Certificate. In order to apply for IRC, the legal advisers at ABC may give assistance to the clients via consultations and meetings, and they can also request that the clients to supply the appropriate papers, such as their NID, Trade License, Incorporation certificate, photos, MOA/AOA, and so on. The kinds of papers that are requested for an application are determined by the kind of business being requested.

Legal professionals at ABC are able to produce all of the essential drafting of paperwork to get IRC. These documents are then distributed to the clients for execution once they have been shared with them. After the customers have signed the necessary paperwork, they are then returned to ABC together with the other documents that were requested of them.

After that, ABC finishes the application by handing over the supporting papers to the relevant authorities and maintaining communication with that body in order to get a certified copy of the IRC. 

ABC’s legal professionals have strong working relationships with government agencies like as BIDA and RJSC, which makes it much more effortless for them to secure whatever certificate their clients need.

If the License is about to expire, ABC will also offer the service of renewing it by completing the required measures at the appropriate times.