Bangladesh Bank has granted local startups permission to invest up to $10,000 in foreign currency to establish a single company abroad, according to a circular issued by the bank.
The move, made under the Foreign Exchange Control Act of 1947, allows resident businesses and individuals with innovative ideas to expand operations internationally. The initiative aims to create investment opportunities and generate income for Bangladesh.
Additionally, the central bank has introduced a share-swapping mechanism that enables resident companies to invest abroad without cash transactions. Instead, they can exchange shares or securities with foreign firms, provided the swap ratio aligns with global standards.
Eligible applicants must apply through their banks to remit funds for overseas ventures. The policy is expected to enhance cross-border business opportunities and promote entrepreneurship.
