Physical presence of the shareholder is now compulsory for transfer of shares. By a circular on March 27, 2016, the Registrar of Joint Stock Companies and Firms (RJSC) impose this condition. Main goal of the circular is to prevent fraud relating to transfer of shares.

The circular does not provide any guideline for corporate shareholders or foreigner shareholders. How these types of shareholders will transfer their shares is not clear from the circular.

Though RJSC issued this circular now, in practice, they imposed this condition for the last several months. We are already facing trouble with transferring share of some of our foreign and corporate clients.

You may read this article to learn more about transfer of shares of a Bangladeshi company.