Regulatory Alerts2019-04-18
Added · Updated
FEPD Circular No. 16: Opening of branch offices abroad
This circular clarifies that the authorization for annual remittance of up to USD 30,000 applies solely to opening and meeting current expenses of branch offices abroad, and is not usable for equity remittance to establish subsidiaries. Consequently, the term 'subsidiary companies' as stated in paragraph 24, chapter 10 of the Guidelines for Foreign Exchange Transactions-2018 is repealed. The regulation affects residents in Bangladesh and Authorized Dealers in Foreign Exchange.
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