The Bangladesh Bank has allowed startup businesses in the country to invest abroad.

A circular was issued in this regard on Thursday (March 27) which said, Bangladeshi startups can now send up to 10,000 US dollars or its equivalent in foreign currency to establish a single company abroad. 

This permission is granted following the Foreign Exchange Regulation Act of 1947.

From now on, resident companies can apply to banks to remit funds for setting up foreign companies. The circular also grants permission to Bangladeshi citizens to establish companies abroad individually, provided they have an innovative idea that can help expand their business internationally and bring investment and revenue back to Bangladesh.

In addition to small-scale investments, the Bangladesh Bank has given resident companies the opportunity to invest abroad through share swaps with foreign companies. This process eliminates the need for cash investments and ensures that share swap ratios align with global best practices.

BDST: 1613 HRS, March 27, 2025
MSK/SMS