Regulatory Alerts2020-03-11
Added · Updated
FE Circular No. 10: Transfer of remunerations to Foreign Currency accounts for foreign nationals in EPZ/EZ/HTP companies
Net income of foreign nationals employed in EPZ/EZ/HTP companies may be credited to their Foreign Currency accounts maintained under paragraph 1, chapter 13 of the Guidelines for Foreign Exchange Transactions-2018, Vol-1. Authorized Dealers must ensure such credits originate only from FC accounts of the respective EPZ/EZ/HTP companies. Outward family remittances from these credits are eligible up to 75% of net income, while account balances remain freely encashable to Taka for local expenses, and air ticket purchases are permissible within the eligible family remittance limit.
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