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Business laws and regulations of Bangladesh

Foreign Investment

Bangladesh enacted its first Public-Private Partnership (PPP) Act, 2015

Bangladesh gets is first Public-Private Partnership (PPP) law. On September 16, 2015 government publish the act through gazette. Previously “Policy and Strategy for Public Private Partnership (PPP), 2010” was the only relevant policy. That Policy is now repealed by the new act. In 2013, PPP Office published a draft laws for public consultation.

The law will provide public-private partnership a firm legal basis and hopefully will promote economic development.

Key provisions of the Public Private Partnership (PPP) Act, 2015

Establishment of PPP Authority:

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Foreign Exchange Regulation Act amended

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.

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Foreign owned companies exempted from going public

Foreign companies and the joint venture companies with foreign investment are exempted by Bangladesh Securities Exchange Commission from the requirement of converting into a public limited company when the paid-up capital exceeds BDT 40 crore and issuing initial public offering when the paid-up capital reaches BDT 50 crore.Foreign owned companies exempted from going public

Through a notification on June 11, 2015, Bangladesh Securities Exchange Commission informed this decision.

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New list of required documents for 18A and 18B approval from Bangladesh Bank

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.