A UK based money exchange company willing to set up money drawing arrangements with any designated commercial bank in Bangladesh has to first approach to the desired commercial bank in Bangladesh who in turn will request the Mission to send confidential report about the said money exchange company in the UK. The Commercial Wing will then request the concerned money company to send two sets of hard copies of the following documents.

• 1. Company profile and pertinent information regarding the management,and ownership, of the company;
• 2. Detail profiles of all directors/partners/proprietor (name, contact details,telephone number, nationality, passport number, previous occupation, educational qualification, etc.) and photocopy of passports;
• 3. Copy of the Memorandum and Articles of Association;
• 4. Certificate of incorporation with Companies House;
• 5. MLR Money Laundering Re gulations) Certificate issued by HM Revenue and Custom (HMRC) office;
• 6. FCA (Financial Conduct Authority) registration certificate;
• 7. Certificate issued by respective bank regarding the business performance and reputation;
• 8. Bank details (full name, address and account numbers) of all the banks with which the company maintains account and three months bank statement supplied by the Bank;
• 9. Name of Bangladeshi banks with which the company has already established remittance arrangement (if applicable); and
• 10. A copy of the credit report of the company prepared by an independent credit rating agency;
• 11. Latest audited accounts and a certificate issued by the auditor/accountant regarding present financial status of the company.

Upon receiving the above documents, Commercial Wing verifies these and sends a confidential report about the said money exchange company to the commercial bank in Bangladesh which in turn signs a money drawing arrangement if the report recommends to do so.

The Foreign Exchange Regulations Act, 1947 imposed restrictions on transferring money from Bangladesh to other countries. NRBs living abroad therefore, encountered difficulties in sending money accrued in Bangladesh to their country of residence. Considering this as a real problem, Bangladesh Bank has relaxed this provision on December 07, 2014 via FE Circular No: 38.

The circular allows non-residence taka accounts to make outward remittances for:

• 1. Subsistence expenses of account holders and their family members living in their country of residence; and
• 2. Current payments by institutional account holders for the purchase of international goods and services

In order to transfer money out of Bangladesh, an account holder has to apply in the following form (Form-7) to his bank in Bangladesh.

Form A 7

(Application to transfer Bangladesh Taka from/to a private Non-Resident Taka Account held in Bangladesh.)

N.B.-

(1) This form should be used only when payment is made in Bangladesh Taka to/or from an account in the name of a person or firm other than a bank resident outside Bangladesh.

(2) This form should be completed in duplicate when the transfer is from one non-resident account to another.

I/We the undersigned apply for permission to transfer/pay Taka ………………………… (in figures) Say …………………………………………………………………………………………………………………………(in words) from/to the account of…………………………………………………………………………………………………………………………… (name and address of the transferee/ transferor or full title of account debited/credited stating ………………………………………………………………………………………. at ………………………………………………………………………………………to/from the country of residence) …………………………………………………… (insert name of bank with whom account is kept) ……………………………………………………………………………………………………………………………… ………………………………………………………………………………………………………………………………… (name and address of the transferee/transferor or full title of account credited/debited stating the country of residence)......…………………………………… at ……………………………………………………………………………… (insert name of bank with whom account is kept) for the purpose stated below: ……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… ………………………………………………………

I/We declare that the statements on this form are true, that the transfer is solely for the purpose specified above and that this purpose in no way contravenes the provisions of the Foreign Exchange Regulation Act, 1947.

Name of the Applicant ….......………………………………………………..................……….………….
Nationality ............…………….......………………………………………..………….…………………………….
Address………………………………………………………………………………………………………......………… ……………………………………………………………………………………………………………………………………

Dated: Stamp and Signature(s) of the applicant

A passenger is allowed to carry the following items to Bangladesh after paying duties as scheduled below:

1. LED, LCD, plasma and similar type of technology based TV

• 1. Cassette player/ two in one;
• 2. Disk man / walk man (Audio);
• 3. Portable audio CD Player;
• 4. Desktop/Laptop Computer (with Printer & UPS);
• 5. Computer scanner;
• 6. Computer printer;
• 7. Fax machine;
• 8. Video camera (other than HD Cam, DV Cam, BETA Cam & professional camera);
• 9. Still Camera/ Digital Camera;
• 10. General/Push button/ Cordless telephone set;
• 11. General/ Electric Oven/ Microwave Oven;
• 12. Rice Cooker/Pressure Cooker/ gas oven (including burner);
• 13. Toaster/sandwich maker/ electrical blender/food processor/juicer/coffee maker;
• 14. General and electric type writer;
• 15. Household sewing machine (manual/electrical);
• 16. Table/ pedestal fan/ceiling fan for domestic uses;
• 17. Sports materials (for personal use only);
• 18. 100 grams gold jewelry/ 200 grams of silver jewelry (not more than 12 pcs of the same type);
• 19. One carton cigarette (200 sticks);
• 20. 21’’ plasma, LCD, VCR, CVP and similar type of technology based TV and Up to 29” CRT black & white /colour Television;
• 21. VCR/VCP;
• 22. General CD & with 02 (two) speakers component (music center);
• 23. VCD/DVD/LD/MD blue ray disk player;
• 24. LCD Computer monitor (with or without TV function) up to 17”;
• 25. Two mobile/cellular phone sets;

The following goods shall not be importable to Bangladesh:

1. Maps, charts and geographical globes which do not indicate the territory of Bangladesh in accordance with the maps published by the Department of Survey, Government of the People’s Republic of Bangladesh;

2. Horror comics, obscene and subversive literature including such pamphlets, posters, newspapers, periodicals, photographs, films, gramophone records and audio and video cassette tapes etc;

3. Books, newspapers, periodicals, documents and other papers, posters photographs, films, gramophone records, audio and video cassettes, tapes etc. containing matters likely to outrage the religious feelings and beliefs of any class of the citizens of Bangladesh;

4. Unless otherwise specified in the import policy order, goods of secondary or sub-standard quality or below –standard or old, used, reconditioned goods or factory rejects and goods of joblot/stock-lot;

5. Reconditioned office equipment, photocopiers, type-writer machines, telex, phones, and fax, old computers, old computer accessories, old electronic items ;

6. Goods (including their containers) bearing any words or inscriptions of a religious connotation the use or disposal of which may injure the religious feelings and beliefs of any class of citizens of Bangladesh;

7. Goods (including their containers) bearing any obscene pictures, writing inscription or visible representation;

8. Import of live Swine and any item prepared from swine;

9. All kinds of industrial sludge and fertilizer & any other products produced from sludge;

10. Unless or otherwise specified in the import policy order, all kinds of waste;

Any person other than the Members of Parliament in Bangladesh, foreign diplomats and UN staff undertaking jobs in Bangladesh have to pay taxes for importing cars in Bangladesh. Import taxes are calculated based on the value of the car published at the internationally recognized automobiles journal, not on the basis of the value declared by the importer.

Vehicle which are more than five years old (counted from the date of first registration) are not allowed to import. For each year of the use of a car 9% depreciation is allowed and the maximum allowable depreciation is 45%.

Duties on Jeep/Car/Microbus (CBU) during Fiscal Year 2016-2017

A person may TEMPORARILY import a vehicle can without paying duty to other countries including Bangladesh under the Carnet de Passages (CDP) eb Douanes rules which normally requires a deposit against import charges for such vehicles. The Carnet is used within the framework of the UN Customs Conventions of 1954 & a956.

In the UK, CPD carnets are issued by the Royal Automobile Club (RAC).

Contact Address: RAC Carnets, RAC Motoring Services, Great Park Road, Bradley Stoke, Bristol, BS32 4QN. Email: carnets@rac.co.uk or Tel. 08705 722 722

The applicant must also provide a security deposit, calculated on the basis of vehicle value and countries of visit. The security deposit is 500% of the value of the car in Bangladesh, Iran, India, Pakistan and Nepal.

A carnet must be returned to RAC within 3 months of the expiry date, unless prior contact or arrangements have been made regarding issue of a further carnet.

If the Carnet is not returned to RAC and the carnet holder fails to comply with the temporary importation regulations & procedures, RAC reserves the right to withhold release of a bank guarantee or refund of monies to cover costs incurred.

All items including Revolvers and Pistols (HS Code 93.02) are importable by authorized dealers of firearms subject to prior permission of the Ministry of Home Affairs. For private sector 1 (one) NPB revolver/pistol with 50 rounds of cartridges/ammunitions and .22 bore rifle/.12 bore short gun/ gun with 100 rounds of cartridges/ammunitions shall be importable by Trading Corporation of Bangladesh (TCB)/appointed authority/persons on approval of the Ministry of Commerce on NOC/recommendation from the Ministry of Home Affairs.

Import of air guns is banned (All HS Code 93.03 to 93.05). However, air guns can be imported for the use of sports and shooting clubs subject to prior permission of the Ministry of Home Affairs. All items including other firearms (except banned bore) are importable by authorized dealers subject to prior permission the of Ministry of Home Affairs. For the private sector, these items shall be importable by the Trading Corporation of Bangladesh (TCB)/appointed authority/person on approval of the Ministry of Commerce on the basis of NOC/Recommendation from the Ministry of Home Affairs.

Import of air gun ammunition (HS Code 93.06) is banned. However, air gun ammunition can be imported for the use of sports and shooting club subject to prior permission of the Ministry of Home Affairs and other ammunitions are importable by Ministry of Defense.

The import duty on air gun/air rifles is Tk. 5000.00.

Bangladesh citizens willing to return back to Bangladesh after staying abroad for two consecutive years, or more are entitled to enjoy benefits in terms of reduced import duty under the Transfer of Residence Baggage Rules (import), 2000 (SRO No. 165 – Law/2000/1846/Customs, Date: 08 June 2000).

The items eligible for having tax benefits under the TR Rules:

Television set, refrigerator, deep freezer, home cooker and oven, washing machine, cloth dryer, dishwasher, VCP, VCR, sewing machine, knitting machine, music center, laser disk player/compact disk player, movie camera, video projector, all kinds to fan, air, conditioner, air-cooler, telephone set (including mobile set), video cassette (recorded), micro-computer, satellite receiver, cookeries or utensils, furniture, nebulae machine, crutch, wheel chair and not more than US$ 500.00 worth of other household items.

Note: Personal car/vehicle is not covered under the rules.

Obligations of the passenger for enjoying benefits under the Transfer of Residence Baggage Rules, 2000

DECLARATION FORM

Transfer of Residence Baggage (Import) Rules, 2000

Signature of the Passenger: ……………..
Name of the Passenger: …………………..
Passport No.: …………………….
Address:

Present: …………………………….
Permanent: ……..........……….
Date: …………….......…………..

Signed the declaration form in my presence on the date: ……………………….