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Bangladesh Bank Introduces Simplified Guidelines for Visa and Consular Fee Remittance Abroad

Bangladesh Bank has introduced new guidelines to streamline the process of remitting visa and consular fees collected in the country to foreign embassies.

By Staff Correspondent
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ভিসা ও কনস্যুলার ফি বিদেশে পাঠানো সহজ করল বাংলাদেশ ব্যাংক | বাণিজ্য
BSS

Bangladesh Bank has issued new directives to simplify the process of remitting visa and consular fees collected domestically to foreign embassies. Under the new system, local visa processing agents can now send the collected fees to the respective embassies, their overseas offices, or designated banks through authorized dealer (AD) banks.

Circular Issued by Foreign Exchange Policy Department

The Foreign Exchange Policy Department of Bangladesh Bank issued a circular on this matter. The circular outlines several conditions that must be followed when remitting visa and consular fees abroad.

Conditions for Fee Remittance

The visa fees must be collected at the rate specified by the respective embassy. Additionally, it is mandatory to retain the invoice issued by the embassy or their authorized institution. Detailed information about the fees collected from each applicant must also be maintained. Furthermore, it is essential to ensure that all applicable taxes have been properly deducted before remitting the funds abroad.

Expected Benefits of the New Directives

The new directives are expected to make the process of paying and remitting visa fees simpler, faster, and more organized. Bangladesh Bank believes that these measures will also enhance transparency and accountability in such transactions.

Terms in this story

Source: BSS

FAQ

Who can remit the collected visa and consular fees?
Local visa processing agents can remit the collected fees.
What conditions must be followed for fee remittance?
Conditions include collecting fees at the specified rate, retaining the issued invoice, maintaining detailed records, and ensuring proper tax deductions.

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