Regulatory Alerts2026-04-06 | EPD Circular Letter No. 06Facilitation for IT Companies and Freelancers
This policy mandates that Authorized Dealers open Exporters’ Special Foreign Currency Accounts (ESFCAs) for IT companies and freelancers, allowing them to retain up to 50% or USD 5,000 of their monthly export proceeds. Account holders can utilize these funds for various current, capital, and financial account transactions without prior approval, while banks must process outward remittances within one working day. Additionally, the requirement for IT exporters to submit 'Form R' for export receipts is abolished to streamline regulatory reporting processes.
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