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2/21/2017 InvestmentFacilities

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Facilities/Incentives Premiumbond Investmentbond Wageearnersdevelopmentbond NRBinvestment Inwardremittancefacilities Prizebond Sanchayapatra NRBdatabase

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Bangladesh offers generous opportunities for investment under its liberalised Industrial Policy and exportoriented, private
sectorledgrowthstrategy.Allbutfoursectors(i.e.(1)armsandammunitionandotherdefenceequipmentandmachinery,(2) Related links
forestplantationandmechanisedextractionwithintheboundsofreservedforests,(3)productionofnuclearenergy,and(4) Newfacilitiesofferedforbonds
security printing and mining) are open for private investment in Bangladesh. The government's role is that of a facilitator
which helps create an enabling environment for expanding private investment, both domestic and foreign. The Board of
ProcessFlowofBond
Investment(BOI),establishedbythegovernmentforacceleratingprivateinvestment,providesinstitutionalsupportservicesto Premiumbond
intendinginvestors. Investmentbond
Generalfacilities/incentives
Wageearnersdevelopmentbond
Nonresidentsinvestment
Taxholiday Inwardremittancefacilities
Tax holiday facilities will be available for 5 or 7 years depending on the location of the industrial enterprise. For industrial
Prizebond
enterprises located in Dhaka and Chittagong Divisions ( excluding Hill Tract districts of Chittagong Division) the tax holiday Sanchayapatra
facilityisfor5yearswhileitis7yearsforlocationsinKhulna,Sylhet,Barisal,andRajshahi,Divisionsandthe3Chittagonghill
districts. Printthispage
Taxholidayfacilitiesareprovidedinaccordancewithexistinglaws.Theperiodoftaxholidaywillbecalculatedfromthemonth
ofcommencementofcommercialproduction.TaxholidaycertificatewillbeissuedbyNBR(NationalBoardofRevenue)forthe
totalperiodwithin90daysofsubmissionofapplication.
Taxexemption

Taxexemptionsareallowedinthefollowingcases:

*Taxexemptiononroyalties,technicalknowhowfeesreceivedbyanyforeigncollaborator,firm,companyandexpert.

*Exemptionofincometaxupto3yearsforforeigntechniciansemployedinindustriesspecifiedintherelevantscheduleoftheincometaxordinance.

*Taxexemptiononincomeoftheprivatesectorpowergenerationcompanyfor15yearsfromthedateofcommercialproduction.

*Taxexemptiononcapitalgainsfromthetransferofsharesofpubliclimitedcompanieslistedwithastockexchange.

Accelerateddepreciation

Industrial undertakings not enjoying tax holiday will enjoy accelerated depreciation allowance. Such allowance is available at the rate of 100 per cent of the cost of the
machineryorplantiftheindustrialundertakingissetupintheareasfallingwithinthecitiesofDhaka,Narayangonj,ChittagongandKhulnaandareaswithinaradiusof10
milesfromthemunicipallimitsofthosecities.Iftheindustrialundertakingissetupelsewhereinthecountry,accelerateddepreciationisallowedattherateof80percentin
thefirstyearand20percentinthesecondyear.

Concessionarydutyonimportedcapitalmachinery

Importduty,attherateof5%advalorem,ispayableoncapitalmachineryandsparesimportedforinitialinstallationorBMR/BMREoftheexistingindustries.Thevalueof
sparepartsshouldnot,however,exceed10%ofthetotalC&Fvalueofthemachinery.For100%exportorientedindustries,noimportdutyischargedincaseofcapital
machineryandspares.However,importduty@5%issecuredintheformofbankguaranteeoranindemnitybondwillbereturnedafterinstallationofthemachinery.Value
addedTax(Vat)isnotpayableforimportedcapitalmachineryandspares.

ForeignInvestment

Privateinvestmentfromoverseassourcesiswelcomeinallareasoftheeconomywiththeexceptionofthefourreservedsectors(mentionedearlier).Suchinvestmentscanbe
madeeitherindependentlyorthroughventureonmutuallybeneficialtermsandconditions.Foreigninvestmentis,however,especiallydesiredinthefollowingmajorcategories
ofindustries:

*Exportorientedindustries

*IndustriesintheExportProcessingZones(EPZs)

*Hightechnologyproductsthatwillbeeitherimportsubstituteorexportoriented.

Facilities/Incentives

(a) For foreign direct investment, there is no limitation pertaining to foreign equity participation, i.e. 100 percent foreign equity is allowed. Nonresident institutional or
individualinvestorscanmakeportfolioinvestments in stock exchanges in Bangladesh. Foreign investors or companies may obtain full working loans from local banks. The
termsofsuchloanswillbedeterminedonthebasisofbankclientrelationship.

(b)Aforeigntechnicianemployedinforeigncompanieswillnot be subjected to personal tax up to 3 (three) years , and beyond that period his/ her personal income tax
paymentwillbegovernedbytheexistenceornonexistenceofagreementonavoidanceofdoubletaxationwithcountryofcitizenship.

(c)Fullrepatriationofcapitalinvestedfromforeignsourceswillbeallowed.Similarly,profitsanddividendaccruingtoforeigninvestmentmaybetransferredinfull.Ifforeign
investorsreinvesttheirrepatriabledividendsandorretainedearnings,thosewillbetreatedasnewinvestment.ForeignersemployedinBangladeshareentitledtoremitupto
50percentoftheirsalaryandwillenjoyfacilitiesforfullrepatriationoftheirsavingsandretirementbenefits.

(d)Foreignentrepreneursare,therefore,entitledtothesamefacilitiesasdomesticentrepreneurswithrespecttotaxholiday,paymentofroyalty,technicalknowhowfeesetc.

(e)The process of issuing work permits to foreign experts on the recommendation of investing foreign companies or joint ventures will operate without any hindrance or
restriction.Multipleentryvisa"willbeissuedtoprospectiveforeigninvestorsfor3years.Inthecaseofexperts,"multipleentryvisa"willbeissuedforthewhole tenure of
theirassignments.

OtherIncentives

CitizenshipbyinvestingaminimumofUS$500,000orbytransferringUS$1,000,000toanyrecognisedfinancialinstitution(Nonrepatriable).

PermanentresidentshipbyinvestingaminimumofUS$75,000(nonrepatriable).

Specialfacilitiesandventurecapitalsupportwillbeprovidedtoexportorientedindustriesunder"Thrustsectors".ThrustSectorsincludeAgrobasedindustries,Artificial
flowermaking,Computersoftwareandinformationtechnology,Electronics,Frozenfood,Floriculture,Giftitems,Infrastructure,Jutegoods,Jewelleryanddiamondcuttingand
polishing,leather,Oilandgas,Sericultureandsilkindustry,Stuffedtoys,Textiles,Tourism.

InvestmentProtections/InternationalAgreements

LegalProtection:Thepolicyframework for foreign investment in Bangladesh is based on 'The Foreign Private Investment (Promotion & Protection ) Act. 1980,' which
ensureslegalprotectiontoforeigninvestmentinBangladeshagainstnationalisationandexpropriation.Italsoguaranteesnondiscriminatorytreatmentbetweenforeignand
localinvestment,andrepatriationofproceedsfromsalesofsharesandprofit.

International Agreements: Bangladesh has concluded bilateral agreements for avoidance of double taxation and investment treaties for promotion and protection of
investmentwiththefollowingcountries:

https://www.bb.org.bd/investfacility/invesfac.php 1/2
2/21/2017 InvestmentFacilities
Bilateralagreements:Belgium,Canada,China,Denmark,France,Germany,India,Italy,Japan,Poland,Romania,Singapore,SouthKorea,SriLanka,Sweden,Thailand,The
Netherlands,UnitedKingdom(includingNorthernIreland).NegotiationsareongoingwithU.S.A,Iran,Philippines,Qatar,Australia,Nepal,Turkey,Indonesia,Cyprus,Norway,
FinlandandSpain.

Investmenttreaty:Belgium,Canada,France, Germany, Iran, Italy, Japan, Malaysia, Pakistan, Philippines, Poland, Republic of Korea, Romania, Switzerland, Thailand, The
Netherlands,Turkey,UnitedKingdom,USA,Indonesia.NegotiationsareongoingwithIndia,Hungary,Oman,Maldova,DPRK,Egypt,Austria,Mauritius,Uzbekistan.

Inaddition,BangladeshisasignatorytoMIGA(MultilateralInvestmentGuaranteeAgency),OPIC(OverseasPrivateInvestmentCorporation)ofUSA,ICSID(International
CentreforSettlementofInvestmentDisputes)andamemberoftheWIPO(WorldIntellectualPropertyOrganization)permanentcommitteeondevelopment cooperation
relatedtoindustrialproperty.

IncentivestoNonResidentBangladeshis(NRBs)

InvestmentofNRBswillbetreatedonparwithFDI.SpecialincentivesareprovidedtoencourageNRBstoinvestinthecountry.NRBswillenjoyfacilitiessimilartothoseof
foreigninvestors.Moreover, they can buy newly issued shares/debentures of Bangladeshi companies . A quota of 10% has been fixed for NRBs in primary public shares.
Furthermore,theycanmaintainforeigncurrencydepositsintheNonresidentForeignCurrencyDeposit(NFCD)account.

RELAXATION/LIBERALISATIONOFEXCHANGECONTROLREGULATIONS

Bangladesh'Taka'isconvertibleforcurrentexternaltransactions.Individuals/firmsresidentinBangladeshmayconductallcurrentexternaltransactions,includingtradeand
investmentrelatedtransaction,throughbanksinBangladeshauthorisedtodealinforeignexchange(AuthorisedDealers)without prior approval of the Bangladesh Bank.
NonresidentdirectinvestmentinindustrialenterpriseinBangladeshandnonresidentportfolioinvestmentthroughstockexchangesinBangladeshalsodonotrequireprior
approvaloftheBangladeshBank.Remittanceofposttaxdividend/profitonnonresidentdirectorportfolioinvestmentdonotrequirepriorapproval.Saleproceeds,including
capitalgainsonnonresidentportfolioinvestmentmayalsoberemittedabroadwithoutpriorapproval.Repatriationofsaleproceedsofnonresident investment in unlisted
companiesisallowedbyBangladeshBankonthebasisofthenetassetvalueofthesharesofthecompany.Investorsmayobtainrelevantproceduraldetailsbycontacting
anyAuthorisedDealerbankinBangladesh.

Tofacilitateinvestment,priorapprovaloftheBangladeshBankisnolongerrequiredfor:

*remittanceofprofitstotheirheadofficesbyforeignfirmsandcompaniesoperatinginBangladesh
*issuanceofsharestononresidentsagainstinvestmentforsettingupindustriesinBangladesh.
*remittanceofdividendsonsuchsharestothenonresidentinvestors.
*portfolioinvestmentbynonresidentsincludingforeignindividuals/enterprisesinsharesandsecuritiesthroughstockexchangesinBangladesh.
*remittanceofdividendsonportfolioinvestmentbynonresidentsthroughstockexchangesinBangladesh.
*remittanceofsaleproceeds,includingcapitalgainsofportfolioinvestmentsofnonresidentsthroughstockexchangesinBangladesh
*remittanceofprincipalandinterestinstalmentsonloans/supplierscreditsobtainedbyindustrialunitsfromforeignlenderswithapprovaloftheBOI.100%foreignowned(
TypeA)industrialunitsintheEPZs(ExportProcessingZone)donotrequirepriorpermissionofBOIforsuchforeignborrowing.
*remittanceinrepaymentofprincipalandpaymentofinterestofsuchloans.
*remittanceoftechnicalfeesandroyaltiesagainsttechnicalassistance/royaltyagreementsinconformitywithBOIguidelines.
*remittanceofsavingsofexpatriatepersonnelatthetimeoftheirleavingBangladesh,outofthesalariesandbenefitsstatedintheiremploymentcontractsasapprovedby
BOI.
*extensionoftermloansbybanksonnormalbankingconsiderationstoforeignfirmsoperatinginBangladesh,subjecttocomplianceoftheinstructionofGFET2009,Vol1,
chapter16,para4(B).
*extensionofworkingcapitalloanstoallforeignowned/controlledindustrialandtradingfirms/companiesbybanksonthebasisofbankcustomerrelationshipandnormal
bankingpractice.
*obtainingofinterestfreerepatriableshorttermforeigncurrencyloansbyforeignfirmsinvestinginBangladeshfromtheirheadofficesoranyothersourcesthroughany
authoriseddealer.

https://www.bb.org.bd/investfacility/invesfac.php 2/2

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