Foreign Remittance
Foreign Remittance
Ministry of Planning and Finance / April 19, 2018
Service Requirement
Personal, companies, organizations, foreign investment companies, foreign joint-venture companies can apply for Foreign Remittance.
Required Documents
Inward Remittances
Application with company letterhead
- Company Incorporation Certificate (copy) or receipt of the company registration fees paid to Directorate of Investment and Company Administration is needed for Initial Capital.
Outward Remittances (Trade)
- Application with company letterhead
- Transfer Application Form
- Import License, Import Declaration (I.D)
- Bill of Lading / Airway Bill / Cargo Receipt
- Invoice
- Packing List
- Sale contract if imported with Non-License
Outward Remittances (Non-Trade)
- Application with company letterhead
- Foreign currency transfer application (Form A)
- Audit Report, MIC Permit
- Taxation Documents for evidence
- Loan Agreement and CBM permission if Loan repayment.
- Other necessary documents based on type of remittances.
Service Fees
USD 15 per transaction is collected as bank charges.
Bank commission for outward remittance is ⅛% on remittance amount (Minimum USD 50).
Steps to Apply
Inward remittances
- Application with company letterhead.
- Checking Statement of Income at SWIFT Message (MT-103), and requesting for approval
- Transfer the money to respective account after getting approval
Outward Remittances (Trade/ Non -Trade)
- Application with company letterhead.
- Check applied documents by Manager and Assistant Manager whether the data are correct or not
- Presented documents will be checked by Manager as per the FEMD Regulations and submit to more authoritative departments for approval
- Sending SWIFT to Beneficiary Bank for permitted remittances.
Contact Address
Yangon
No.170/176, Corner of Bo Aung Kyaw Road and Merchant Road, Botahtaung Township, Yangon.
Mandalay
No.100, 84th Street,between 29th Street and 30th Street,Chan Aye Thar Zan Township,Mandalay.
Website Address