Regulatory Alerts2020-06-18
Added · Updated
Transfer of shares and repatriation of sales proceeds of shares in favor of non-residents in private/public limited companies not listed with stock exchanges
Authorized Dealers may effect remittances for share sales proceeds regardless of amount if the fair value is determined by the target company's management using the net asset value approach based on latest audited financial statements. No Bangladesh Bank permission is required for repatriating sales proceeds up to Tk 10.00 million equivalent without independent valuer reports, while amounts between Tk 10.00 million and Tk 100.00 million require valuation methods prescribed in FEID Circular No. 1 of May 06, 2018. Authorized Dealers must submit post facto reports detailing transactions exceeding Tk 10.00 million to the Foreign Exchange Investment Department within 30 days of remittance and preserve records for five years.
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