The IRC Regular-Recommendation Letter is an essential document designed to streamline the process of granting incentives under the Board of Investments Development Act (BIDA) of 2016. This letter serves as a formal endorsement from the Investment Regulatory Committee (IRC), affirming that the applicant meets all necessary criteria to qualify for the incentives and benefits provided under the Act. By ensuring compliance with the legal framework established by the BIDA Act of 2016, the IRC Regular-Recommendation Letter plays a pivotal role in promoting investment and economic growth.
Issuing Authority:
Name : Bangladesh Investment Development Authority (BIDA)
Address : E-6/B, Sher-e- Bangla Nagar, Agargon Dhaka 1207, Bangladesh
Email : service@bida.gov.bd
Required Documents:
- Applications (letterhead Pad)
- BIDA Registration (Photocopy of the Original)
- Import Statement Regarding raw materials/Spears parts against their Ad-Hoc IRC (6 Months/1 year in the lean Bank letterhead pad)
- L/C (Photocopy of the Original)
- Bill of Entry (Photocopy of the Original)
- Bill of Lading (Photocopy of the Original)
- Fire License (Updated)
- Environment Certificate (If Applicable)
- Sales/Export statement (Original)
- List of the existing Machineries (With value)
Process Steps:
Step 1 Application submission with supporting documents: The applicant must prepare an application letter on the company’s official letterhead, outlining the request for the IRC Regular Recommendation. This letter should be signed by an authorized representative of the company. Along with the application letter, the applicant must submit all necessary supporting documents, which may include company registration certificates, tax identification numbers, proof of business operations, and any other relevant documentation as required by BIDA
Step 3 Inspection by BIDA Officials: Step 3 Issuance of Inspection Date and Field Inspection: Upon receiving the application and supporting documents, BIDA will review the submission and issue a date for a field inspection. On the scheduled date, BIDA officials will conduct a field inspection of the applicant’s business premises to verify the details provided in the application and ensure compliance with relevant regulations and standards. The applicant will be notified of the inspection date in advance.
Step 5 Preparation and Submission of Inspection Report: Based on the inspection report, the concerned section within BIDA will prepare the Recommendation Letter, which will contain the official recommendation regarding the issuance of the IRC Regular Recommendation to the applicant. Once the letter is prepared, the applicant will be notified to collect it, thereby completing the process.
Fee Schedule:
No Fee
Official Time Limit
7 days**
Actual Time Limit
Depends on both the parties (Issuance Authorities and Client)