Commodity

Commodity Details

For Imports

Regulating Agencies

Legal Basis

• Manual of Regulations on Foreign Exchange Transactions issued under Circular No. 645 (13 February 2009) – Manual of Regulations on Foreign Exchange Transactions issued under Circular No. 645 (13 February 2009), (As amended by Circular Nos. 794 dated 18 April 2013, 874 dated 8 April 2015 and 922 dated 23 August 2016)

Permits, Clearances, Certifications

• Prior written authorization from the BSP

Requirements & Procedures

Documentary Requirements

Bangko Sentral ng Pilipinas

Prior written authorization from the BSP, through the Mint and Refinery Operations (MROD), is required for the importation of the following commodities:

1. Coin blank essentially of gold, steel, copper, nickel, zinc, tin, aluminum, brass, bronze, all with diameter of less than 30.00 mm and weight of less than 11.50 grams per piece;
2. Coin blank essentially of silver with diameter of 36.8 mm +/- 0.05 mm and weight of 28.28 grams per piece; and
3. Nordic Gold coin metal with diameter of 33.55 mm +/- 0.05 mm and weight of 15 grams per piece.

Documentary Requirements

1. Notarized Application for Authorization indicating, among others specifications of metal, supplier, and purpose of procurement;
2. Owner's registration certificate, if applicable;
3. Importer's Registration certificate, if applicable;
4. Authorization from Corporate Secretary;
5. Two (2) government Issued IDs;
6. Specifications and actual dimension of coin (e.g., diameter, weight, edge thickness, material composition);
7. Customer Satisfaction Survey; and
8. Additional requirements for partnership/corporation:

• Articles of incorporation/partnership;
• Company's By-laws;
• List of Directors/Partners;
• List of Principal Stockholders; and
• List of beneficial owners, if any.

Procedures

Bangko Sentral ng Pilipinas

1. The Applicant shall coordinate with the Office of the Director, MROD at 8988-4642 or mrod@bsp.gov.ph for the scheduling of filing of application. The BSP will then prepare and send the Entry Permit No. to the applicant digitally.
2. Thereafter, the applicant shall submit above documentary requirements to the BSP prior to importation.
3. The BSP will renew and evaluate the application and issue the authorization if the application is approved or letter of regret if disapproved.
4. If the authorization is granted, the applicant shall submit the following within 10 working days from the date of Bill of Lading:

• Bill of Lading;
• Commercial Invoice; and
• Packing List.

Failure to comply with the submission of the required documents will result in the cancellation and revocation of the authorization.

NTMs

1. BSP – Import Clearance to bring in blank coins of various materials

Import Status

Regulated

For Exports

Regulating Agencies

No Regulating Agencies

Status

NTMs

No Related NTMs

Tariff Schedules

Visit the Philippine Tariff Commission (TC) through its Philippine Tariff Finder (PTF).

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