Section 18BRestriction on foreign companies

s. 18B

18B. Restriction on foreign companies [(1) Person resident outside Bangladesh (whether or not a citizen of Bangladesh) or a person who is not a citizen of, but resident in, Bangladesh or a company (other than a banking company) not incorporated under any law for the time being in force in Bangladesh shall report to Bangladesh Bank within 30(thirty) days of obtaining permission from Board of Investment or similar competent authority in Bangladesh to establish in Bangladesh a branch office or liaison office or representative office or any other place of business for carrying on any activity of a trading commercial or industrial nature.] [***]

1. 20. Sub-section (2) and (3) were omitted by section 8(b) of the Foreign Exchange Regulation (Amendment) Act, 2015 (Act No. XVII of 2015).