Document from CIS Legislation database © 2003-2024 SojuzPravoInform LLC

It is registered

in the Ministry of Justice

Republic of Tajikistan

On July 31, 2003 No. 95

Approved by Board of National Bank of Tajikistan of September 16, 1997 No. 51

Regulations on procedure for carrying out the currency transactions connected with capital movement.

The provision is obligatory to execution by all residents of the Republic of Tajikistan (legal entities and physical persons) by all types of the currency transactions connected with capital movement, performed by them in the territory of the Republic of Tajikistan or beyond its limits.

1. Basic concepts

1.1. The currency transactions connected with capital movement are the transactions providing movement of currency values between residents of the Republic of Tajikistan and nonresidents of the Republic of Tajikistan performed for the purpose of;

- creations outside the Republic of Tajikistan of sources of financing of production and economic and other activities;

- carrying out investing activities, including participation of residents of the Republic of Tajikistan in the capital of residents (in foreign currency) and nonresidents on the share (equity) or joint-stock beginnings for implementation of joint activities and/or commercialization on the invested capital in various forms;

- extraction by residents of the Republic of Tajikistan of investment revenue in the form of percent or dividends on securities of foreign states and treasuries - nonresidents of the Republic of Tajikistan.

a) direct and portfolio investments that is investments in the authorized capital of the company for the purpose of attraction of the income and receipt of the participation rights in enterprise management;

- acquisition by the resident of the nonresident of the Republic of Tajikistan (share in it) at the expense of sources in foreign currency;

- contributing to the capital (authorized, the main and turnover) the resident (nonresident) of the Republic of Tajikistan in foreign currency residents of the Republic of Tajikistan for joint financial activities;

- share purchase;

- reinvestment of income of the residents of the Republic of Tajikistan gained from participation in the share (share) capital of nonresidents of the Republic of Tajikistan;

b) transfers to payment of the property rights to buildings of construction other property including the earth and its subsoil carried by the legislation of the country of its location to real estate and also other rights to the real estate;

c) provision and receipt of financial loans for the term of more than 180 days:

- loan granting by residents of the Republic of Tajikistan (including authorized banks) to nonresidents of the Republic of Tajikistan;

- loan granting by legal entities of the non-bank sector by residents of the Republic of Tajikistan to residents of the Republic of Tajikistan;

- receipt of the credits (loans) in foreign currency (both bank, and non-bank) residents of the Republic of Tajikistan about the nonresidents of the Republic of Tajikistan, international banks and financial organizations attracted without use of guarantees of the Governments of the Republic of Tajikistan or outside intergovernmental agreements about provision of the foreign credits (except all the obtained credits within intergovernmental agreements, agreements between the Government of the Republic of Tajikistan and National Bank of Tajikistan and international financial institutions, and also their guarantee to the Government of the Republic of Tajikistan or National Bank of Tajikistan);

d) representation and receipt of payment deferral for the term of more than 180 days on export and commodity import of works and services:

- implementation of advance payments under import contracts exceeding maximum amount of advance payment established by National Bank of Tajikistan for benefit of the nonresident and on term;

- provision of commercial credit to residents of the Republic of Tajikistan for benefit of the nonresident under export contracts for term more than 90 days of shipping date of goods (acceptance to transportation or sendings)

- execution of export contracts, rendering services in t.ch on consignment basis), the payments providing implementation by not dividend for benefit of resident of the Republic of Tajikistan in time, exceeding 90 days of shipping date of goods, rendering services;

- execution of barter, goods exchange and compensation transactions, payment due date and counter delivery of goods on which exceeds 90 days of shipping date of goods delivered by the partner;

- execution of reexport contracts if exceeds payment due date for benefit of resident of the Republic of Tajikistan 90 days of date of implementation by the resident of the Republic of Tajikistan of payment for the goods which are subject to the subsequent re-export;

- execution of import contracts if is not provided delivery by the paid resident of the Republic of Tajikistan in foreign currency of products (works, services) on customs area of the Republic of Tajikistan, i.e. delivery of goods is performed on the territory of the third countries.

e) all other currency transactions which are not the current currency transactions:

- opening by residents of accounts in foreign currency in banks outside the Republic of Tajikistan;

- obtaining and use of guarantees and guarantees of National Bank of Tajikistan, in foreign currency;

- leasing transactions, transactions on lease of the equipment used in the production purposes for the term of more than 180 days.

- consolidation of means in foreign currency residents of the Republic of Tajikistan for implementation of joint financial activities (projects).

1.3. All transactions connected with capital movement can be performed only on Permission of National Bank of Tajikistan and be carried out through authorized banks or according to the procedure, specified in Permission of National Bank of Tajikistan.

2. Procedure for consideration of the application of resident about issue of Permission to implementation of the transactions connected with capital movement

2.1. For consideration of question of issue of Permission, residents submit to National Bank of Tajikistan the following documents of general nature (obligatory):

- statement;

- notarized constituent and registration documents;

- the certificate of tax authority of absence of debt before the budget and about lack of violations of the tax legislation

- the reference of authorized bank of the Republic of Tajikistan the currency account is opened and there is remaining balance of currency means

- the reference of the State management committee state-owned property if the company uses state-owned property

- balance of the company for the last accounting year and as of the last reporting date certified by tax authorities;

- the report on financial results of resident for the last accounting year and on the last reporting date, certified by tax authorities;

- the reference of the State statistical agency about assignment of codes to resident.

2.2. In addition to the list of documents of general nature and depending on transaction type, listed in item 1.2. this provision, the applicant represents one of the following documents of the additional (specifying) nature disclosing specifics of this transaction to National Bank of Tajikistan:

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