In Nepal, an EXIM Code (Export Import Code) is a crucial document required for businesses engaged in importing and exporting goods to and from the country. This code, issued by the Department of Customs in Kathmandu, facilitates various processes such as Letter of Credit (LC) documentation, customs procedures, and currency transfers. Here’s everything you need to know about obtaining and renewing your EXIM Code in Nepal.

What is an EXIM Code?

An EXIM Code serves as an identification number for businesses involved in international trade. It is essential for customs clearance and compliance with regulatory requirements during import and export transactions.

EXIM Code Registration Process

To apply for an EXIM Code in Nepal, follow these steps:

1. Online Application: Submit an online application through the Department of Customs' portal. Click here for EXIM link to access the application.

2. Document Verification: The Department of Customs verifies submitted documents, including company certificates, Memorandum of Association (MOA), and Proof of Share Capital.

3. Issuance of EXIM Certificate: Upon verification, the Department of Customs issues the EXIM certificate within 7 days and sends it to your registered email address.

Documents Required for EXIM Code Application

Ensure you have the following documents ready for upload during the application process:

1. Company Certificate
2. Memorandum of Association (MOA) and Articles of Association (AOA)
3. Share Lagat
4. PAN/VAT/Excise Certificate (confirm if goods are excisable)
5. Tax Clearance Certificate
6. Certificate of Registration from Department of Commerce (for traders) or Department of Industry (for industries)
7. Bank Guarantee: NPR 300,000 from a bank along with Anusuchi 2 certificate (recommendation letter for obtaining Reference Number)
8. Passport Size Photo of the Proprietor or Authorized Person
9. Citizenship Certificate of Proprietor, Shareholders, or Directors
10. Board Resolution Minutes authorizing the application for EXIM Code
11. Power of Attorney from the firm/company

Renewal of EXIM Code

The EXIM Code must be renewed every 6 months during Ashadh and Mangsir by paying the renewal fees. This ensures continuity of your import-export activities without interruption.

Frequently Asked Questions

1. Minimum Paid-Up Capital: NPR 1,000,000 (Ten Lakhs)
2. Minimum Bank Guarantee: NPR 300,000 (Three Lakhs), renewable annually
3. Digits of EXIM Code: 13 digits unique identifier

Conclusion

Obtaining an EXIM Code is essential for businesses in Nepal engaged in international trade. By following the outlined registration process and maintaining compliance with regulatory requirements, businesses can streamline their import-export operations and ensure smooth customs clearance.

For businesses looking to expand their global footprint from Nepal, securing an EXIM Code is a foundational step towards international trade success.