International Transactions

Importations

A. General procedures of importation and payment

The importer must be approved by the Ministry of Trade.
The importer has to fill with his banker a form called "Declaration of import and payment ".
The payment of the goods and the related expenses is made according to the modalities resumed below:

a) Payment after import

Thepayment is made on presentation of :

  • Original definitive invoices.
  • Declarations of stake in consumption as well as the receipt of payment established by the services of the customs.
  • The certificate of check established by the controlling organisation, if necessary.
b) Payment before import

The payment before import concerns the payment either, by documentary credit, or by documentary delivery. 
The payment is made on presentation at the bank approved speaker or her foreign correspondent of the usual documents.
The documents of transport are established in the order of the approved Bank speaker, to notify to the importer.

B. Validation of the Declarations of import and payment ( DIP).

All the declarations of import and payment are aimed by banks approved according to the General Regulation of the Exchange control.

The demand of declaration of import and payment must be accompanied with :

  • A pro forma invoice to 6 copies;
  • An insurance certificate;
  • An authorization of the Ministry of Health for pharmaceutical products.

The validity of a DIP is of one year with the possibility of continuation only once for the same period.

The overtakings on the value FOB or the amount of the related expenses can be adjusted without having to validate an additional DIP on the condition of producing definitive invoices or certificate of check, if necessary.

The increase of the price due to a supplementary quantity with regard to the one who was initially foreseen on the DIP, asks for the validation of a new DIP to pay the supplement.

The validation of an additional DIP is required in case of increase of the price due to a supplementary quantity with regard to that foreseen on the DIP.

The DIP of a superior value in USD3000 for medicines, chemical, food products and secondhand clothes shops and USD 5000 for the other products, must be subjected to the control.

The partial expeditions for these declarations are the object of control.

The contract of check of the imports is at present insured by the General Company of Surveillance SGS in abbreviation.

The imports on behalf of model "A" are only authorized in the approved importers.

The import of the second-hand vehicles with personal custom(usage) is henceforth authorized.

The limitations relative to the import of the new and second-hand vehicles are got rid of.

The official structure of the prices of fuels is periodically published by the central Bank according to the ministerial prescription of the Ministry of Trade and the Industry.

The validation of the global DIP to cover the urgent imports is authorized.

The validity of a global DIP is fixed to 12 months.

The visa of a global DIP is subordinated to the checking(discharge) of that in the course of use. An importer can arrange only a single global DIP in force.

Payments on the global DIP are subordinated to the presentation of the following documents: Ø Original definitive invoices.,Original DMC containing N of the concerned DIP; receipts of payment of the entrance fees.

The import without payment of currencies(slogans) is authorized on base of a DIP.

The numbers attributed(awarded) to the BCB for the global DIP meet themselves in the beach of: LG / B1 / 400.000 - LG / B1 / 499.999

Exportations

All the export and of re-exportation declarations are aimed by the banks according to the General Regulation of the exchange control.

In case of temporary export of vehicles, besides the usual documents, the approved Bank will have to ask for the registration card and the yellow card of COMESA insurance, if necessary.

The repatriation of the product of the exports or the paid re-exportations has to be made for the periods at the risk of statutory penalties impose on the failing exporter.

The continuation of export customs entries and re-exportation is also within the competence of approved banks.

The income in currencies bound to the export of the coffee, the tea and the cotton must be given up to the BRB at the level of 50 %.

Also, assets in currencies of Banks exceeding 10 % of stockholders' equity must be also given up to the BRB.

Financial Transactions

The approved banks are authorized to validate the models "A" for imports whose C&F value does not exceed USD 5.000, the travel expenses, the care of health, the school fees, the transfers of salaries and retro-transfers. By the expenses, we understand the expenses of official missions, the journeys for commercial contacts, visits, tourism and holidays, installations of the diplomats and the international civil servants and finally supplement at the expense of mission.

Any deal concluded in Burundi and concerning possessions situated in Burundi or services returned to Burundi cannot be drawn up in foreign currencies, except special dispensation of the Bank of the Republic of Burundi.

The demands of transfer towards the foreigner are presented on an entitled form " Model A ". They are introduced to approved banks for treatment and the files with which they are not authorized to deal are passed on to the BRB.

For the imports on model "A", documentary evidences have to reach the Bank in charge within 3 months to pass on them in the BRB.

The demands of travel expenses for official missions must be introduced by the employers.

The children of less than 10 years cannot benefit from the exchange.

The standards, the documents required as well as the amount authorized for every type of expenses are fixed by the BRB and can be communicated to the customer on inquiry.

The authorization of transfer of the professional incomes is granted to the foreign physical persons who do a professional activity in Burundi.

The authorization of transfer of the consular receipts is granted to Embassies and Consulates without conditions.

The payment of foreign capital, the percentages and remunerations paid to the administrators and the foreign auditors residents and non-residents are transferable after payment of the taxes. The queries of authorization of transfer must be introduced before September 30th by the fiscal executive during which the tax collection took place.

The companies which transfers from abroad the capital intended to replace their working capital benefit of a retro-transfer guarantee.

Compensation currencies

Since the 1st of April 2004, a clearing house in currencies has been set up by the BRB. It holds a session every working day with the exception of the last working day of the year.

All the delegates must be present in the room of compensation at precise 10 am, provide with their details to be compensated, notes and sheets of sale.

Change Bureau

The opening of a foreign exchange office requires beforehand the approval of this last one by the BRB which delivers for that purpose a licence of operation.

Any foreign exchange office has to open and hold in its name an account with an approved bank.

The foreign exchange office can buy and sell currencies in bank notes, in traveller cheques at freely negotiated rates.

The foreign exchange office has to pass on in the BRB a weekly report of its purchases and sales of currencies as well as its position of exchange.

 

 

 

 

 

 

 

 

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