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

The instruction about procedure for opening and maintaining by authorized banks currency accounts of legal entities and physical persons of residents and nonresidents of the Republic of Tajikistan

I. General provisions

1.1. The instruction determines rules of opening and maintaining the current and other currency accounts of legal entities and physical persons by authorized banks - residents and nonresidents of the Republic of Tajikistan.

1.2. Current currency accounts are opened for clients for accounting of all receipts in foreign currency irrespective of nature, source of education and purpose of means for benefit of the account holder and implementation of all obligatory and other payments.

1.3. Current currency accounts are opened by authorized banks for the legal entities and physical persons (which are engaged in business activity) in the place of opening of their settlement and other rublovy accounts. If the bank serving the rublovy account has no right to making of currency transactions, from its consent current currency accounts can be opened in one of authorized banks. Supplementary currency accounts are opened for physical persons.

II. Procedure for opening of currency accounts to legal entities

2.1. Current currency accounts are opened by authorized banks:

- to associations, companies and organizations;

- to small enterprises, firms, cooperatives and their unions and societies;

- to joint businesses with participation of the foreign capital;

- to the external economic organizations of all types;

- to the external economic firms and their associations;

- to state bodies (to the ministries, departments, executive bodies on places (Hukumatam) and to their self-supporting structural divisions);

- to foreign firms and companies, their branches and representations;

- to the international organizations accredited in the Republic of Tajikistan or which are abroad, to their branches and representations;

- to other legal persons - residents and nonresidents;

- to physical persons - residents and nonresidents.

2.2. For opening of the current currency accounts legal entities (residents and nonresidents) shall submit the following documents to authorized banks:

- the statement in the form established by authorized bank;

- notarially - verified copies of constituent and registration documents (for the nonresident legalizirovanny in accordance with the established procedure), statements from the trade register, for bank - the license for making of banking and currency transactions. Nonresidents in addition represent copies of permission (petition) of national (central) banks or other authorized body (person) of foreign state on opening of the account, documents on coordination of location of representations and branches with local authorities of the government;

- copies of permissions to opening of representations, statements from the register of accreditation in the Republic of Tajikistan of representative offices of the foreign companies;

- the certificate of tax authority of statement of the legal entity on accounting in tax authority;

- the cards with specimen signatures and impress of a seal of the organization, company in duplicate certified notarially or superior organization;

- the written confirmation about lack of currency accounts in other banks signed by persons having the right of the first and second signature and certified by seal;

- when opening currency accounts in clearing currencies - special government trade and economic agreements with foreign states about implementation of calculations for mutually deliveries in clearing currencies are represented.

2.3. The authorized bank of the Republic of Tajikistan has the right to request at discretion from the applicant to submit additional documents and information.

2.4. Authorized banks draw up opening of the current currency account the order on the established authorized bank to form signed by the head and the chief accountant of authorized bank. One copy of the signed order goes to the account holder.

2.5. In case of renewal of the account in connection with reorganization (merge, accession, separation and allocation) the same documents are submitted, as well as during creation of the companies, organizations and organizations.

2.6. In case of change of the name which is not caused by reorganization and also in case of change of subordination in authorized bank the application of the account holder notifying bank on changes and the copy of the decision of relevant organ is submitted.

In case of change of nature of activities the account holder represents notarially - the verified copy of the new Charter or the made change (amendment).

The specified documents shall be submitted by the resident (nonresident) to authorized bank within a month from the date of renaming, change of subordination or change of nature of activities.

2.7. The nonresidents coming to tours, etc. of action can open provisional currency accounts. For this purpose it is necessary to provide to authorized bank:

- the statement in the form established by authorized bank;

- the copy of the document confirming temporary arrival of the nonresident.

2.8. Currency accounts of legal entities - residents (nonresidents) are closed:

a) according to the statement of the account holder;

b) on the termination of term of functioning of the nonresident specified in registration documents of authorized bodies of the Republic of Tajikistan;

c) according to the decision of National Bank of Tajikistan in case of violation of the existing foreign exchange legislation or transactions on them - according to the petition of agents of currency exchange control and other representatives on it bodies of the Republic of Tajikistan can be temporarily suspended;

d) in the absence of records and account balance within year. In this case authorized banks shall warn in writing in month the owner about intention to close its account.

2.9. For opening of currency accounts and implementation of transactions on them authorized banks levy commission fees according to rates of commission fee (approved by Boards of the relevant authorized banks), pochtovotelegrafny expenses on actual cost in payment currency.

2.10. Authorized banks shall report about opening of currency accounts in 5-dnevny time in the relevant tax authority.

III. Procedure for maintaining the current currency accounts of legal entities

The following mode of currency accounts of legal entities (residents and nonresidents) is set.

3.1. Into currency accounts of legal entities can be enlisted:

a) currency earnings from the permitted foreign economic activity, from sales of goods, works and services for foreign currency in the territory of the Republic of Tajikistan on the Permissions issued by National Bank of Tajikistan, other means arriving in repayment of obligations to account holders;

b) fees in the authorized capital, other receipts from investing activities, the percent paid by authorized banks;

c) currency loans from authorized banks, and also other residents (nonresidents) - legal entities based on Permissions of National Bank of Tajikistan;

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