The best way of shipping a car into Bangladesh is to ship through a professional transport company. If you are new in this business, you should definitely look for professionals, because they will help you to do it in the exact way.
Now you must be thinking what is the exact way? Well, I am talking about Bangladesh car import rules that you must follow for shipping reconditioned cars into Bangladesh.
When it comes to the rules for shipment of reconditioned cars, most of the newbie business owners become confused. In this article, I am going to make a clear conception of the rules and regulations of car importation, so keep reading!
Bangladesh Car Import Rules: In Depth Information
About 80% of the used cars of Bangladesh are imported from Japan. The vehicles which are imported in Bangladesh should be right hand drive vehicles, because they move on the left hand side of roads.
The popularity of used vehicles of Japan is increasing day by day, and that's why this is becoming a very popular field for business.
But you will need to follow some rules and regulations to do this job. These rules are also made for Japanese car importer in Bangladesh.
Importation of used car, used microbus, used jeep, used minibus, tractors, and other old vehicles are allowed under the following conditions—
- The vehicles that are imported should not be more than 4 years ancient.
- The importation should be done only from the root country or country of origin. Importation of used cars from any third country is not allowed.
- Also, you will need a certificate that is issued by Japan Auto Appraisal Institute (JAAI). The model number, age, and chassis number of the used car is mentioned in the certificate.
- You will need to submit the certificate to the customs authority.
- To ordain the age of the used car, the date is calculated from the 1st day of the next year of the manufacture.
The information mentioned above are not to be considered as the hard and fast rules. It is better checking with the embassy or a clearing agent to know the updated information about the rules.
These are the basic rules and regulations for used car importation from Japan. If you follow all the rules sincerely, you won't face any difficulty.
The Documents You Will Need For Port Clearance:
Only the rules and regulations are not enough for car importation. You will need some documents along with them. The documents you will be asked for are—
- Original Bill of Lading (BoL)
- Certificate of country of origin
- Title and Registration certificate
- Original Passport
- Copy of Work Permit
- Invoice, Registration for determining the age of the car
- Letter of authorization
- Vehicle condition report
- Import Permit from the Chief Controller of Import and Export for foreigners.
Yes, I know these are too much. But you have to provide all the documents because this is an international business, so the documents are crucial, too.
Tax Rate of Importation on Used Vehicles in Bangladesh:
Tax is an important step for importing used cars in Bangladesh. You will be asked to pay a certain amount of Tax for the importation. Here is the details of recondition car import tax in Bangladesh 2020—
- Import Tax is 0-40%
- VAT is 15%
- Infrastructure Development surcharge is 2.5%
Excise taxes are levied on vehicles, too. Only for diplomats and privileged persons duty free importation of 1 used vehicle is allowed in Bangladesh. Other foreigners and nationals have to pay the duties to import a used car.
Nationals who have been living abroad for more than ten years returning to Bangladesh will be considered as 'returning nationals.' They will be eligible for duty free importation of 1 vehicle.
Consideration will be provided to the special circumstances (returning individuals) and the probable contribution of the nation building.
Also, the returning nationals are exempted from Bangladesh Sales Tax charges on a vehicle that has been owned by the nationals for one year at least prior to its importation.
The Shipping Ports of Bangladesh:
I am adding this portion so that in case if you need this information, you can get to know it easily.
The ports for shipment in Bangladesh of used vehicles are ports in Dhaka and Chittagong. The most popular Japanese car model is Toyota in Bangladesh.
More expensive shipping method is the container shipping method which is done by the customer request, but generally, the RoRo (Roll-on, Roll-off) method is used for the shipment of vehicles.
Bottom Line:
Importation of reconditioned cars is becoming a popular job day by day. People are now more comfortable with a second hand car as they can get it at a relatively very cheap price rather than buying a brand new car at a high price.
So, this is the high time to start this business and within a few months you will get the surprising success. All you need to do is— to follow all the Bangladesh car import rules and you won't face any trouble.
