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EXIM Code provides an institution the right to make a cross-border selling/purchasing of goods or services with real-time data flow to the Government in context of export/import of goods from Nepal.
A 13 letter code for Export and Import of goods is known as an EXIM code provided by the Department of Customs, Ministry of Finance (Government of Nepal). In an era of globalization, selling and purchasing of any goods or services to an international market is doable but it comes with a set of protocols that needs to be adhered before commencing the act, i.e. attaining an EXIM code.
EXIM Code provides an institution the right to make a cross-border selling/purchasing of goods or services with real-time data flow to the Government in context of export/import of goods from Nepal. The usage of EXIM Code prohibits any illicit ways of importing or exporting of goods that possibly effect the Government’s revenue generation. The EXIM Code needs to be regularly updated on an annual basis with Bank Guarantee. A company registered in Nepal with a minimum Paid up Capital up to 10 Lakh can apply for an EXIM Code, however for export purpose solely; no minimum Paid up Capital is required.
Documents Required for the Application:
How to Register?
The sole motive of introducing an EXIM Code in any country is to monitor the bogus firms that are responsible for revenue leakage of the Government.
The 13 letter within the EXIM Code represents the registered PAN number (9 letters) of the firm, 01/02 respectively represents a single ownership (01) or a partnership firm (02), and a special 2 digit unique number is software generated. NP at the end of an EXIM Code represents Nepal.
To illustrate how an EXIM Code is created, an example is created for your perusal.
Trilegal Nepal Pvt. Ltd. has an EXIM Code i.e. 1234567890121NP
The EXIM Code remains the same for a company throughout its existence, however due to unpaid taxes, cancellation request, Bank Guarantee cancellation; EXIM Code can be cancelled by the Department of Customs but upon request it can be reinstated with clearance of taxes or any other required documents are submitted. EXIM Code requires an annual renewal and an extension of Bank Guarantee certificate is mandatory.