Diaspora Engagement Affairs


             Diaspora Information

1.   Diaspora Account

It is a deposit account for Ethiopians in Diaspora to open and use foreign currency with a bank in the home country.

Deposit is made in US Dollar, Pound Sterling and Euro. currencies only.

Deposits that are made in other convertible currency such as Canadian shall be converted to any of the above stated three currencies at spot exchange rate based on the preference of the account opener.

Who is eligible to use a Diaspora account:

§  Non-Resident Ethiopian

§  Non-Resident Foreign Nationals of Ethiopian origin

§  Ethiopian nationals living and working abroad or in due process of living abroad for work for more than one year.

 

Types of Diaspora Account

I. Fixed (Time) Deposit Account

§   It is an interest-bearing account with agreed maturity date. The minimum maturity period is three months. Interest rate is based on LIBOR Rate (London Interbank Offered Rate). Globally accepted interest rate.

§  It is opened with an initial deposit of US Dollar 5,000 or its equivalent in any of the above stated currencies.

II.    Current Account

§  It is operated by cheque book and withdrawals can be made at any time by writing a cheque.

§  It can be opened with an initial deposit of US Dollar 100 or its equivalent in any of the above stated currencies

§  It has no interest

III. Non-Repatriable Birr Account

§  It may take the form of saving deposit account that can be used for local payments only.

§  Interest rate 10%

§  Money can neither be transferred from this account to abroad nor converted from the local currency to any foreign currency.

How to open Diaspora Savings Account

§  in person or

§  through Ethiopian Embassy and councils

 

Required Documents for Application

§  Application form properly filled and signed by the applicant.

§  Ethiopians or foreign nationals of Ethiopian origin shall present valid passport and/or identification card (yellow card)

§  Applicants who could not be physically presented to open the account in the domestic banks can use the Ethiopian Embassies to prove their identities.

 

 The following conditions may lead to closure of the Diaspora account:

§  Upon the request of the account holder.

§  When the account holder starts to live in Ethiopia

§  A foreign currency account is found to be opened in relation to money laundering or terrorist financing services.

 

 

2.   MORTGAGE LOAN FOR ETHIOPIAN DIASPORAS

Who is eligible for Diaspora Mortgage Loan?

• Any diaspora whose age is 18 years and above.

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.  The loan shall be repaid in USD,

   GBP and euro.

·         The applicant shall raise in foreign currency, equity contribution of at least 20% of the cost of the residential house to be purchased or constructed.

·         The bank shall lend up to 80% of the cost of the house to be purchased or constructed.

How to open Mortgage Savings Account

·         in person or

·         through his/her legal representative, or

·         through Ethiopian Embassies.

Required Documents for Application

1.   For foreigners of Ethiopian origin:

·         Renewed passport and yellow card copies

2.   for non-resident Ethiopians:

·         Renewed Ethiopian passport and PR copies

3.   Application forms properly filled and signed by the applicant.

4.   Two latest passport size photographs;

 

3.  Ethiopian Diaspora Trust Fund

If you want to make financial contribution to Ethiopian Diaspora Trust Fund account details are as follows:

Ø  Account Name: Ethiopian Diaspora Trust Fund

Ø  Account Number: 1000255726725

Ø  Bank Name & Address: Commercial Bank of Ethiopia, Addis Ababa, Ethiopia. P.O. Box 255. Tel: +251 (0)11 5515004, +251 (0)11 5515000

Ø  Ethiopian Diaspora Trust Fund official website https://www.ethiopiatrustfund.org

Money should be sent to the opened “Ethiopian Diaspora Trust Fund” account via the following methods:

  • By accessing the official website of the Ethiopian Diaspora Trust Fund or;
  • By sending your contributions to the account using the Commercial Bank of Ethiopia’s SWIFT Code: CBETETAA or;
  • By pressing on “Donate Nowon the website you can directly transferring money “online” by means of Credit card/ Apple pay/ Google Pay/ PayPal;
  • By using the officially authorized international money transfer services currently working with the Commercial Bank of Ethiopia, listed below.

Authorized International Money Transfer Services

 

No

Name

No

Name

1

Western Union

12

Tewkel Money

2

X-Press Money Service

13

Zenji Exchange Company

3

Bole Atlantic International

14

Paco Money

4

Money Gram

15

Irmaan Express

5

Dahabshiil Money Transfer

16

Bakkal Money Transfer

6

Al Ansari (Cash Express)

17

Devine (Blue Nile)

7

World Remit Ltd

18

Dawit Money Transfer

8

Trans Fast Money

19

T and Y Remit

9

Kaah Express Money Transfer

20

Asgori Money Express

10

Golden Money Transfer

21

 

11

Lari Exchange

 

 

 

5.   Investment and Trade

Ethiopian diasporas can participate in investment and trade in Ethiopia, either individually or in group.

Required Documents for Application

1.   Signed application. The application should indicate where the investment will be made and the sector in which you want to invest.

2.   For foreigners of Ethiopian origin:

·         Renewed passport and Ethiopian Origin Identification Card copies

3.   for non-resident Ethiopians:

·         Renewed Ethiopian passport and PR copies

Based on the applicant’s application the Embassy writes support letter to Ethiopia Diaspora Agency.

 

6.   Knowledge and Technology Transfer

Professionals can take part on technology transfer in Ethiopia, either individually or in group.

Required Documents for Application

§  Signed application. The application should indicate where the investment will be made and the sector in which you want to invest.

·         For foreigners of Ethiopian origin:

v  Renewed passport and Ethiopian Origin Identification Card copies

·         For non-resident Ethiopians:

v  Renewed Ethiopian passport and PR copies

After these documents are submitted to our Embassy, the Embassy writes support letter to Ethiopia Diaspora Agency.


In general, the Diaspora Engagement Department of the Embassy is responsible for raising awareness and understanding of Ethiopia among the diaspora and mobilizing them to take part in the country's development activities.

The department’s activities include: providing information, encouraging and facilitating diaspora participation in investment activities in Ethiopia, supporting knowledge and technology transfer initiatives, assisting members of the diaspora to open Foreign Currency Diaspora and Mortgage Accounts, facilitating and supporting professional and community associations.

 

NB. For more information please visit our embassy’s website:

                 www.ottawa.mfa.gov.et

            

Main Contacts

merga tufa
Minister  I - Diaspora Affairs
Tel: 613-565-6637 Ex.213
email: 
merga.tufa@ethioembassycanada.org



~Download Pdf ethiopian citizen in foreign land.pdf
~Download Pdf Commercial Bank Saving Account Form.pdf
~Download Pdf Mortgage Account Form.pdf
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