Ready to take your business global and thinking about getting an EXIM code in Nepal? You’ve come to the right place. Our simple guide will help you navigate the steps to secure your Export-Import (EXIM) code.
What is an EXIM Code?
In Nepal, an EXIM Code, or Export-Import Code, is a 13-digit unique identification number. It’s also referred to as the Harmonized System (HS) code. The Department of Customs issues this code.
Businesses involved in international trade must have it. Its purpose is to assist the government in monitoring the movement of goods in and out of the country.
Why is it important?
- Smooth International Trade: For businesses in import and export, having an EXIM Code is a must. It ensures that the movement of goods across borders happens smoothly.
- Customs Clearance: When your goods arrive at the border, customs officials use the EXIM Code to quickly identify and process them. It’s like a magic key that opens the doors for your goods to enter or leave the country.
- Legal Requirement: The government requires businesses to have an EXIM Code. It’s a legal necessity to engage in cross-border trade activities.
Steps to Register for an EXIM Code in Nepal
To register for an EXIM code in Nepal, you need to follow the below steps:
- Step 1: Gather the required documents:
- Company/Firm Registration Certificate
- PAN and VAT Certificate
- Bank Guarantee of NPR 300,000
- Recommendation from the bank where you have an account
- Recent Photograph
- Step 2: Go to the official website of the Department of Customs in Nepal (https://www.customs.gov.np/) to access the online registration portal.
- Step 3: If you don’t have an account, create one by providing the required information. If you already have an account, just log in.
- Step 4: Navigate to the EXIM Code registration section on the portal.
- Step 5: Complete the online application form with accurate details about your business. Remember to attach scanned copies of the necessary documents mentioned earlier.
- Step 6: Before submitting, review your application and attached documents. Once you’re satisfied, submit the application.
- Step 7: Provide a cheque deposit of NRS 300,000 issued by a Class A bank certified by Nepal Rastra Bank.
- Step 8: After completing the application, wait for 7 days to receive your EXIM code.
Note: The EXIM code is valid for 1 year, and you need to renew it annually.
FAQs
What is the renewal fee for an EXIM code in Nepal?
The renewal fee for an EXIM code in Nepal is NPR. 1,000.
Why is the EXIM code important in international trade?
The EXIM code plays a vital role in global trade. It helps categorize products. It figures out import duties, eases customs clearance and collects trade statistics.
Do I need to include the EXIM code on shipping documents in Nepal?
Yes, including EXIM code on shipping documents is essential for smooth customs clearance and compliance with import/export regulations in Nepal.
