Regulatory Alerts2013-08-20
Added · Updated
FEID Circular Letter No. 07: Relaxation of Approval Process for Foreign Nationals in Power Sector
Foreign nationals working in branch or liaison offices of foreign organizations in the power sector who stay in Bangladesh for six months or less and receive salaries paid abroad are exempted from the requirement to open local bank accounts when applying for permission under Section 18A of the Foreign Exchange Regulation Act, 1947. Authorized Dealer Banks are instructed to omit the confirmation of local account maintenance from Annexure-2 of Circular Letter No. 04/2013 for these specific applications, while applicable taxes must still be paid within the country. This instruction takes immediate effect.
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