Regulatory Alerts2014-08-31
Added · Updated
FEPD Circular No. 32: Repatriation of sale proceeds of non-resident owned equity in unlisted companies purchased by residents
Bangladesh Bank amends the Guidelines for Foreign Exchange Transactions-2009 to allow the repatriation of sale proceeds for non-resident equity in unlisted and private limited companies based on fair value rather than solely on net asset value. This fair value must be determined using an appropriate combination of the net asset value, market value, and discounted cash flow approaches depending on the company's nature. Applications for repatriation must be submitted to the Foreign Exchange Investment Department at the head office, accompanied by a Valuation Certificate from a BSEC-licensed Merchant banker or an experienced Chartered Accountant, along with full audited financial statements. Bangladesh Bank reserves the right to seek a second opinion from another qualified valuer if the submitted valuation is deemed inappropriate.
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