The Diaspora Affairs Section of the Consulate General of Ethiopia is committed to delivering various services to Ethiopians and foreign nationals of Ethiopian Origin in the USA. Currently, the Consulate office is providing the following vital services to encourage members of the Ethiopian Diaspora community so that they actively participate and benefit from the ongoing political as well as socio-economic transformation.

1. Foreign Currency Diaspora Bank Account

Foreign Currency account is an account in which the source of fund is overseas and can be maintained in hard currency or in birr. Type of foreign currency account may include: Non-Resident Transferable Foreign Currency Account (NRT FCY), Non-Resident Transferable Birr Account (NRT), Non-Resident Non-Transferable Birr Account (NRNT), Foreign Exchange Retention Accounts for Exporters, Foreign Exchange Retention Accounts for the Recipients of Inward Remittances, Foreign Currency accounts in the name of Ethiopian and foreign nationals of Ethiopian origin ( Diaspora a/c)

2. MORTGAGE LOAN FOR ETHIOPIAN DIASPORAS

The Commercial Bank of Ethiopia has designed mortgage loan for Ethiopians living abroad and foreigners of Ethiopian origin.

Who is eligible for Diaspora Mortgage Loan?

  • Any Diaspora whose age is 18 years and above.
  • Any applicant who can submit the following documents during loan application:
  • Residence and/or work permit;
  • Renewed passport for non-resident Ethiopians or renewed passport and the yellow card for foreigners of Ethiopian origin;
  • Two latest passport size photographs; o Marriage certificate, or otherwise;
  • If applicable, power of attorney, the copy of ID and 2 passport size photographs of the agent(s);
  • Employment letter showing annual gross and net income from an employer or individual tax return; (Optional)
  • Copy of employment contract, if applicable;
  • Bank account statement for at least one year from the foreign bank;
  • If the applicant is a business person/he shall present
  • Financial statement for at least three consecutive years;
  • Renewed trade license and trade registration certificate; and Tax payment certificate.
  • The applicant shall raise in foreign currency, an equity contribution of at least 20% of the cost of the residential house to be purchased or constructed.
  • The bank shall finance up to 80% of the cost of the house to be purchased or constructed.
  • The loan shall be repaid in USD, GBP and euro.
  • CLICK HERE TO DOWNLOAD THE MORTGAGE LOAN FOR ETHIOPIAN DIASPORAS APPLICATION FORM

How to open Mortgage Savings Account

  • The applicant can open a saving account beforehand and save for his/her equity contributions in person or through his/ her agent at a nearby branch of the Commercial Bank of Ethiopia or through Ethiopian Embassies.
  • Upon fulfilling his/her equity contributions, the applicant can lodge his/her loan request to any of the bank’s Consumer and Housing Credit Processing Units and Outlying District Offices.

Features of the Mortgage Loan

  • Purpose : – Purchase or construct residential house
  • Loan period : – Maximum of twenty years
  • Equity contribution : – Minimum of 20% of the house to be purchased or constructed
  • Interest rate : – Minimum of 8.5% per annum

It is possible to settle the loan at any point without additional charge.

3.Interest Free Banking (IFB) Diaspora Mortgage Financing(DMF)

Who is Eligible to apply for DMF

  • All Diaspora whose age is 18 years and above.
  • All Diaspora who can submit the following documents:
    • Residence and /or work permit ,renewed passport (for non-resident Ethiopian);
    • Renewed passport and yellow card (for non-resident foreigners of Ethiopian Origin);
    • Two passport size photograph;
    • Marriage certificate, or otherwise;
    • If applicable, power of attorney, copy of ID and 2 passport size photograph of the agent(s);
    • Employment letter showing annual gross and net income from employer or individual tax return ; (Optional)
    • Copy of employment contract, if applicable;
    • Bank account statement for at least one year from foreign bank;
    • If the applicant is a business person, She/He shall present
      • Financial statement for at least three consecutive years;
      • Renewed trade license and trade registration certificate ;and
      • Tax payment certificate;
    • All Diaspora shall pay, in foreign currency (USD, GBP, EUR) at least 20% of the cost of the residential house to be purchased as down payment

How to open Wadia’h Diaspora Mortgage Savings Account (WDMS)

  • Applicants may approach branches of the bank with IFB windows service in person or through their agent to be open wadia’h based Diaspora Mortgage savings account.
  • Alternatively, applicants may consult Ethiopian Embassies to open the saving account.
  • Applicants can lodge their financing request to IFB Financing Business in Addis Ababa or to District Offices out of Addis Ababa or the account opening branch of appropriate and at their convenience.

Features of Interest Free Banking Diaspora Mortgage Financing

  • Purpose: purchase of residential houses
  • principle :based on Sharia’h through Murabaha financing
  • Repayment schedule: maximum of twenty years
  • Down payment : at least 20% of the house to be purchased
  • Profit Margin: to be determined based on amount ,life of financing and option of financing

CLICK HERE TO DOWNLOAD THE WADIAH SAVING ACCOUNT OPENING FORM

Commercial Bank of Ethiopia
PO BOX. 255
Addis Ababa,
Ethiopia

Tel:  (251-11-551 95 06 / 251-11-553 00 42)
Fax: (251-11-554 62 43)

Website: WWW.COMBANKETH.ET

4. Tax Identification Number(TIN)

The Consulate general of the Federal Democratic Republic of  Ethiopia in Los Angeles, CA Would like to inform all Ethiopian and foreign national of Ethiopian origin that it has been facilitating the issuance of Tax Identification Number(TIN) in collaboration with Ethiopian customs and Revenue Authority.

Therefore, the Service Shall be provided at the Consulate office during our business hours. To get the service, customers will be required to provide a copy of valid American passport and Ethiopian origin ID (for those who have changed their nationality) and a copy of valid Ethiopian passport and Permanent Residence ID (for those who haven’t changed their nationality).

On the other hand,  those customers who cannot appear in Person shall send the required information by mail as per the following requirements and procedures.

Requirements of  Tax Identification Number(TIN)

  1. Download both registration and fingerprint forms. Click here to download the form REGISTRATION FORM FINGER PRINT FROM
  2. Print the form on a clean white A4 or Letter size paper. Make sure that the top left and bottom right corner ‘markers’ are printed
  3. Complete fields: 2.1 to 6.5 ( do not fill in fields: 1 and 7 (7.1 & 7.2) )
  4. Take the form to the nearest law enforcement agency (e.g. Police Station) to have fingerprints taken and transposed to the form using ink as follows:
  5. Mark an ‘X’ to indicate which fingerprints cannot be taken (Missing fingers).
  6. Please use only BLACK ink.
  7. Fingerprints taken should be flat and not rolled.
  8. Ensure that each fingerprint image is placed in the center of the box provided.
  9. Fingers should be spread slightly, not pressed together.
  10. Try not to slant the fingers or have it at an angle.
  11. The officer, who captures the fingerprints, should complete Block-1 with his/her relevant details.
  12. Affix a color passport photograph to B using glue, not a staple, as this will damage the photograph. It should neatly fit in the block, and should not be larger or smaller.
  13. Enclose a copy of valid American passport and Ethiopian Origin ID (for those who have changed their nationality) and a copy of valid Ethiopian passport and Permanent Residence ID (for those who haven’t changed their nationality).
  14. Upon completion send the documents to the Consulate general of Ethiopia in Los Angeles, CA by mail (3250 Wilshire Blvd UNIT 1101, Los Angeles, CA 90010)
  15. Make sure that you are given a receipt for your application.
  16. Yourself appointed representative should regularly follow up with ERCA on the status of your application. ERCA will not contact you or your representative. Your representative will be responsible to ensure that you get your newly issued TIN number. You will be able to collect your TIN card from ERCA once you are back in Addis Ababa.

5.Investment

To Download Investment Support letter Request form. (CLICK HERE)

6. NGO Matters

To register any NGO matters use this form (DOWNLOAD)