Finance import used car
How to Import a Vehicle That You Have Used Abroad.

The price of brand new or reconditioned vehicles is sky rocketing day by day and people are in search of ways to import vehicles with tax concessions to Sri Lanka. The permit holders of vehicles thrive as they have plenty of opportunities to sell their permits. Since the sale of vehicle permits legalized now,most of the permit holders put their permits on sale placing advertisements in public media. Earlier there was an option to “Importation of Motor Vehicle under the Gift Scheme from a close Family Member”, but that facility was suspended over miss use of the same. But Sri Lankans who have worked in a foreign country have an option to import the vehicle they have used there to Sri Lanka upon their come back to motherland. This scheme facilitates importation of a vehicle used by a Sri Lankan who has remitted foreign exchange to Sri Lanka and it is called “Importing of vehicles under the Foreign Exchange Earned Abroad” scheme.

Who are eligible to import their used vehicles to Sri Lanka?

1. A person who have regularly maintain NRFC or remittance account in recent two years.
2. A person who can prove the sufficient (more than twice of the CIF value of the vehicle)foreign earnings and remittance to Sri Lanka (Minimum of $ 50,000 USD) covering the period of employment abroad at least three years commencing from six months before the date of application .

If you have fulfilled the above the importation can be done under two categories;

Category I – Importation of Used Motor Vehicles between 2 to 5 years old.

Requirements:
I. The motor vehicle should be registered under the name of the applicant and used by him for a period of more than one year.
II. Motor vehicle should not be older than 05 years from the date of first registration.

Category II– Importation of Used Motor Vehicles between 05 to 10 Years Old.

Requirements:
I. The motor vehicle should be registered in the name of the applicant and used by him continuously for a period of more than three years.
II. Motor vehicle should not be older than 10 years from the date of first registration.

Special Conditions for Both Categories.

  • Vehicle should be right hand driven.
  • Licensee should present with him/her self with his/her passport at the time of clearance of the vehicle. Violation of this condition will result cancellation of license and confiscate the vehicle.
  • Vehicle should be registered in the name of the licensee and cannot be transferred for 03 Years.

Importation of a vehicle under this scheme is permitted once in lifetime only.

Documents to be submitted along with the application

  1. Photocopy of applicant’s Passport of pages showing Photograph, personnel details.
  2. Validity period.
  3. All pages including date of departure from Sri Lanka and date of arrival to Sri Lanka with immigration stamps.
  4. Photocopy of valid visa proving that he/she has gone abroad for employment and completed one year/three years in that country.
  5. A copy of work permit or letter of appointment including the date of appointment, post held and salary paid to the applicant. Fax number and E-mail address of the employer should be indicated in the employer’s letter. (If self-employed relevant documents should be submitted to prove the foreign earnings.)
  6. Monthly bank statements (NRFC or remittance receipts) should be attached to prove the sufficient (more than twice of the CIF value of the vehicle) foreign earnings and remittance to Sri Lanka (Minimum of $ 50,000 USD) covering the period of employment abroad at least three years commencing from six months before the date of application.
  7. The applicant should be regularly maintain NRFC or remittance account in recent Two years
  8. A copy of the registration certificate of the vehicle owned and used by the applicant, certified by the embassy of the relevant country.
  9. A valuation report of the vehicle from a recognize body of the relevant country [original document]
  10. Two photographs showing front and back side of the vehicle.
  11. Registration Certificate/ Cancellation of Registration (De-Registration) Certificate of The vehicle and the Pre-shipment inspection certificate from Japan Auto Appraisal Institute or Bureau Veritas should be submitted at the clearance. (Vehicles met with any type of accidents or damage are not permitted to import).
  12. Declaration from the applicant stating that applicant will reside in Sri Lanka and the Vehicle is for his personal use.
  13. The applicant may ready to submit any other relevant document when required for Department further clarifications

All documents /photocopies should be certified as the true copies by the applicant and Genuineness of the documents submitted will be verified with relevant agencies and if Forged documents are submitted the applicant shall be punishable by law.

Applicant required paying a license fee against CIF value of the vehicle. This is payable to the department by a bank draft.

  • 2 – 5 years old vehicle – License fee 03% of CIF value.
  • 5- 10 years old vehicle – License fee 06% of CIF value.

Applicant may send his/her application directly to Import Export Control Department by Registered post or through duly authorized person. Documents in languages other than English must be accompanied with certified English translation.

Please contact Department of Customs for other relevant duties applicable. Also, please note that all the above are only guidelines. Final decision will be taken by the
controller of Import and Export Control considering all documents submitted by the applicant. Contact details of the ‘The Department of Import & Export Control’ as follows; Tel 011-2326774 – web site : www.imexport.gov.lk

Sandun W

Sandun joined Lanka Help Magazine as a contributor in June, 2011. He has been consistently writing articles to our magazine. Many useful articles of this site are under Sandun's name.

About the author

Sandun joined Lanka Help Magazine as a contributor in June, 2011. He has been consistently writing articles to our magazine. Many useful articles of this site are under Sandun's name.

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