FEPD Circular No. 16: Opening of branch offices abroad — BB — BD

Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka www.bb.org.bd
FE Circular No. 16 Date: 18 April 2019
All Authorized Dealers in
Foreign Exchange in Bangladesh
Dear Sirs,
Opening of branch offices abroad
In terms of paragraph 24, chapter 10 of the Guidelines for Foreign Exchange Transactions-2018 (GFET), Vol-1, prior approval of Bangladesh Bank is not required by the residents in Bangladesh for opening of branch offices/subsidiary companies abroad. This paragraph permits annual remittance of upto USD 30,000 or equivalent to meet current expenses of such offices opened abroad.
02. This is to clarify that this authorization for remittance is applicable only for opening
and meeting current expenses of branch offices abroad. In no way, this authorization is useable for equity remittance to establish subsidiaries abroad. Henceforth, ‘subsidiary companies’ as stated in the aforesaid paragraph shall stand repealed. Please bring the contents of this circular to the notice of all your concerned clientele. Yours faithfully, (Md. Kawsar Matin) General Manager (Current Charge) Phone: 9530487

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Issued under

FEPD Guideline of 2018Not in RegAlert
“In terms of paragraph 24, chapter 10 of the Guidelines for Foreign Exchange Transactions-2018 (GFET), Vol-1”

Mentions (1): 1 document mentions this one without changing it

Referred to by

FEPD Circular Letter No. 27: Opening of branch offices abroad2019 · BB
“ase refer to paragraph 24, chapter 10 of the Guidelines for Foreign Exchange Transactions2018 (GFET), Vol-1, read with FE Circular No. 16, dated 18 April 2019 regarding opening of branch offices ab”