Ethiopia - Apply for Franco Valuta License

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Procedure

A written undertaking by a bank given to the seller at a request and/or the instruction of the buyer to make payment or accept and pay bill of exchanging (draft) drawn by the seller up to a stated sum of money within a prescribed time limit and against stipulated documents.

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Required Documents

A letter of guarantee issued by an issuing Bank/guarantor. A Tax identification Number An investment License

Office Locations & Contacts

National Bank of Ethiopia

P.O. Box: 5550

Addis Ababa, Ethiopia

Tel +251 115 517430

Fax +251 115 514588

Email: [email protected]

Website:http://www.nbe.gov.et/

You can Visit the following link for Various Offices in National Bank Of Ethiopia,http://www.nbe.gov.et/contactus/index.html

Eligibility

Customers that request the above products of Trade Service, except guarantee should fulfill the following criteria:

• Should maintain a current account with the bank
• Should be in the possession of valid trade license for import /export as appropriate or business license or investment or industry license or must exist in the list of budgetary government organizations issued by the National Bank of Ethiopia. In case of a non-government organization, a certificate issued by the Ministry of Justice, Regional Governments and offices authorized by proclamation.
• Goods imported for investment activities including capital goods and raw material an adequate up to commissioning stage and for their personal

use by Ethiopian and foreign nationals of Ethiopian origin investors who are permanently residing abroad and having a license from the appropriate government office.

Fees

Fees is determined by NBE

Validity

Valid for 1 year

Documents to Use

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Sample Documents

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Processing Time

Processing take 30 working days.

Related Videos

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Instructions

• should apply for this License in person.
• Should maintain current account with the bank

Required Information

• Should have Tax Identification Number(TIN)
• Should be in the possession of valid trade license for import /export as appropriate.
• Should be in possession business license
• Should be in possession of investment License
• Should be in possession of industry license
• Should be in the list of budgetary government organizations issued by the National Bank of Ethiopia.
• In case of non-government organization, certificate issued by the Ministry of Justice, Regional Governments and offices authorized by proclamation.
• Should have Tax Identification Number(TIN)
• Should not be reported as delinquent by the National Bank of Ethiopia.
• Should not be reported as delinquent by the National Bank of Ethiopia.

Need for the Document

Franco Valuta License (Permit)is a license issued to importers of goods on which no foreign currency is payable.

It is through this method that a seller receives payment from a buyer prior to shipment or the agreed upon goods or rendering the agreed upon service through the Bank transfer,no foreign currency is payable in this case, all the process is handled by National bank of Ethiopia. To import goods through this process you must posses a franco Vaulta License from the Bank.

• Import-available by sight payment/negotiation payment/deferred payment*/acceptance payment*

• Export-payment available by sight/negotiation/acceptance of bills

• If approved by the National Bank of Ethiopia

Information which might help

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Other uses of the Document/Certificate

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e.g. Birth Certificate can be used as proof of identity.

External Links

http://www.combanketh.et/InternationalBanking/TradeService.aspx

Others

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