The much awaited amendment is here folks. Finally the Parliament has passed the Foreign Exchange Regulation (Amendment) Act, 2015 and on September 9, 2015, the gazette has been published.

Let’s take a look what has changed and how you might be affected.

• Applicable to all resident in Bangladesh:

From now on Foreign Exchange Regulation will be applicable to virtually all persons living in Bangladesh irrespective of their nationality except foreign diplomatic representations or accredited officials of such representations located within Bangladesh and offices of organizations established by international treaty located within Bangladesh.

[Read more…] about Foreign Exchange Regulation Act amended

Update September 15, 2015: Recently Bangladesh Parliament has amended the Foreign Exchange Regulations Act 1947. The requirement of and 18A and 18B Approval from Bangladesh Bank has been removed. 

You can read about the amendment here.

Bangladesh Bank on 10 March 2015, through FEID Circular no. 01/2015 provides a new list of required documents. In the circular, Bangladesh Bank also informed that all application must be made through online, no hard copy will be allowed from now on.

If you are a foreign investor, or run a Liaison Office, Branch Office, or have a buying house, you should take a look at the Circular.

The circular is in Bangla. You can download the circular from here.

 

From now on Bangladesh Bank will allow foreign shareholders to repatriate fair value of shares in unlisted public companies and private limited companies as on the date of sale based on appropriate combination of three valuation approaches (net asset value approach, market value approach and discounted cash flow approach) depending on the nature of the company.

On August 31, 2014, through FE Circular No. 32 Bangladesh notified this decision.
Previously, it was net asset value of the shares as on the date of sales, based on latest audited financial statements.

[Read more…] about Foreign shareholders can now remit fair value of their sold shares