Document from CIS Legislation database © 2003-2024 SojuzPravoInform LLC

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

Procedure for issue of permissions to opening by residents of accounts in foreign currency in banks outside the Republic of Tajikistan

1. Opening of the current and other accounts and making of foreign currency transactions on them abroad legal persons - residents is the currency transactions connected with capital movement is performed with the permission of National Bank of Tajikistan in the following cases:

1.1. Implementation of calculations for production cooperation with foreign partners;

1.2. Servicing of the foreign credit (loan) in the presence of permission to its obtaining;

1.3. Content of representations and branches outside the Republic of Tajikistan for implementation of the tasks connected with proizvodstvennokhozyaystvenny activities of resident;

1.4. Lack of possibility of carrying out required settlement transactions by authorized banks of the Republic of Tajikistan;

1.5. Content sanatorium and improving organizations, financing of treatment, cultural and sporting events, exhibitions and accomplishment of other tasks of social nature, implementation of insurance and transportnoekspeditsionny activity outside the Republic of Tajikistan;

1.6. Financing of the specialized works performed outside the Republic of Tajikistan (construction, geological and prospecting, construction and repair and other works of prospecting nature);

1.7. In other necessary cases.

2. The National Bank of Tajikistan considers applications on issue of permissions to opening of the account to residents in foreign currency abroad taking into account specifics of carrying out specific currency transactions and in case of impossibility of opening of such account in authorized banks of the Republic of Tajikistan and has the right to issue reasonable refusal in consideration of the application.

3. The National Bank of Tajikistan has the right to cancel and require transfer to accounts to authorized banks of the Republic of Tajikistan of the means in foreign currency which are on accounts abroad in cases of violation of the mode of the account, non-presentation of information and reporting under required form and at the scheduled time.

4. For consideration of question of issue of Permission to opening of the account in foreign currency in the banks which are outside the Republic of Tajikistan, the resident submits the following documents to National Bank of Tajikistan:

4.1. The letter - the petition with reasons for need of opening of the account with indication of specifics of the currency transactions of resident complicating their carrying out through authorized banks of the Republic of Tajikistan;

4.2. Notarially - verified copies of constituent and registration documents;

4.3. Balance and reports on financial results of resident for the last accounting year and as of the last reporting date, certified of tax authority;

4.4. The reference from tax authority in which the resident stays on the registry, the containing following information:

- confirmation that the tax authority is informed on intention of resident to open the account abroad;

- information on absence of debt before the budget;

4.5. The reference of the authorized bank keeping the currency account of resident and containing the following information:

a) about the main source of foreign currency at the applicant and as the main source the following types of receipts shall be specified:

- 01. Receipts under export contracts from nonresidents.

- 02. Receipts from nonresidents in the cases permitted by the current legislation of the Republic of Tajikistan.

- 03. Receipts from realization to citizens of goods (works, services) for foreign currency in the territory of the Republic of Tajikistan.

- 04. Purchase of foreign currency in the domestic foreign exchange market of the Republic of Tajikistan.

- 05. Receipts in type of loan from authorized banks of the Republic of Tajikistan.

- 06. The credits from nonresidents.

- 07. Fees in the authorized capital of resident.

- 08. The income from transactions with share values.

- 09. The income from earlier performed investments.

- 10. Other sources of receipts of foreign currency (with their specific description).

б). About availability or lack of violations of the foreign exchange legislation

4.6. Copies of the documents of the specifying nature relating to various cases of opening of the account determined in Item of 1 this Procedure:

- the credit agreement and the feasibility statement on the credit project in case of attraction of the credits from nonresidents, the copy of permission to attraction of the credit;

- the contract extract about financial conditions of calculations (in case of construction abroad);

- the decision of the supreme body of resident on creation of representation abroad, its approved staff list and annual expense budget, regulations on representation;

- schedules and/or traffic patterns of money into the opened accounts;

- copies of decisions of the Government of the Republic of Tajikistan and the President of the Republic of Tajikistan and other regulating documents relating to this case, etc.

5. The National Bank of Tajikistan has the right to demand provision and other documents considering specifics of resident and necessary for decision making.

6. Opening of accounts and foreign currency deposits outside the Republic of Tajikistan, storage on them currency means, to rezidentamfizichesky persons is allowed for stay of these physical persons abroad, and in other cases - with the permission of National Bank of Tajikistan.

On the termination of term of stay abroad the resident shall close the foreign bank account and transfer remaining balance of means on accounts to the Republic of Tajikistan or import with observance of Customs rules everything the currency values received abroad into the Republic of Tajikistan.

7. Residents, it was authorized to them to place means on accounts in foreign currency outside the Republic of Tajikistan, shall represent the reporting under remaining balance of means and movement on the specified accounts, and also information on the percent received and transferred to the Republic of Tajikistan during the accounting period, monthly to the 10th of every month following month under report with application of copies of account statements on the 1st day since date of opening of the account on appendix form No. 1 to the Procedure and also any other information on the first oral or written requirement of National Bank of Tajikistan.

Appendix No. 1

     The report on remaining balance and movement of means on the currency account

      ________________________________________________________
                             (resident)
      opened in foreign bank on 01 _____________ 200 ____.

       Account currency ____________, account No. ___________________,

                    bank ________________________

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