JGC JGC CORPORATION Dhaka Branch
9, Mohakhali C/A, 11th floor, Banani, Dhaka-1212
Date: 23 August 2022
The Director (Commercial)
Bangladesh Investment Development Authority (BIDA)
Prime Minister's Office
E-6/B Agargaon,
Sher-e-Bangla Nagar,
Dhaka-1207.
Subject: Submission of Shortfall Documents for waiver of BIDA condition no. 8. (Seeking approval
of sending outward remittance).
Dear Sir,
We, JGC Corporation have a Branch Office in Bangladesh (BIDA permission Ref No:
03.219.344.00.00.0000.2567. 15102019).
I would like to inform you that, we have applied for waiver of condition no. 8 of BIDA permission. BIDA
has sent a letter to Bangladesh Bank seeking an opinion. Bangladesh Bank has issued a letter to our AD
Bank (Standard Chartered Bank) for the submission of the Encashment Certificate, but Bangladesh Bank
did not receive any immediate response from Standard Chartered Bank regarding this matter and issued
letter to BIDA with their opinion on 20 January 2022.
But our AD Bank (Standard Chartered Bank) has replied to Bangladesh Bank on 03 February 2022 with
proper documents and Bangladesh Bank has issued 18B intimation letter on 10th February 2022 but BB did
provide further opinion to BIDA regarding waiver 8 even though AD has submitted encashment certificate.
In this circumstance, it requested to accept this application take the necessary steps to approve the waiver
of BIDA condition no. 8.
Thanking you
Takaya ársuoka
General Manager
JGC CORPORATION
(Bangladesh Branch Office)
Enclose:
1. Copy of office permission.
2. Encashment certificate.
3. Copy of all letters of BB and AD
Bangladesh Investment Development Authority (BIDA)
Prime Minister's Office
Ref No: 03.219.344.00.00.0000.2567.15102019 Date: 25 November 2019
Country Manager,
JGC Corporation
9 ,Mohakhali
CIA, 11th floor, Banani,Banani
Dhaka-8062
Sub: Permission for opening of Branch Office
Dear Sir,
With rererence to your applications received on 15.10.2019 & 24.11.2019 on the above subject, this is to inform you that according to the decision of Z/5 inter-
ministerial Committee meeting held on 27.10.2019, the Bangladesh Investment Development Authority of Bangladesh has been pleased to allow you to open Brance
Office in Dhaka for a period of three (03) years with effect from 30.10.2019 on the following terms and condition:-
1. Ihe activities of your Branch Office shall remain confined to Engineering, procurement, construction and operation & maintenance activities of inirastructure and
industrial facilities.
2. You shall have to report to Bangladesh Bank within 30(thirty) days of obtaining pemission from Bangladesh Investment Development Authority to establish in
Bangladesh a branch office or iaison office or representative office or any other place of business for carrying on any activity of a commercial naure and the same
reported letter shall have to submit to BIDA for recording,
3.In case you intend to continue your office beyond the period approved in this order, you shall have to apply for necessary renewal In the prescribed torm at least
2(two) months before expiry of present term.
4.Ministry of Home will issue security clearance In favour of your offtice after' verification.
. lt you intend to employ any foreign national(s) in your office, prior government approval should be obtained from this Authority. In this context, you are to ensure
appointment of 5(five) local people at your. office preferably in executive position under appropriate pay structure against l(one) foreign national
6. While operating, your business programme In this country, you shall have to abide by the rules, regulations, orders and instructions issued by the Government of
Bangladesh from time to time.
7. All operational, functional and establishment costs including salaries of the expatriates and local employees in your office will be met on receipt of remittance rom
abroad.
8. No outward remittance of any kind from Bangladesh sources will be allowed.
9. If your office earns profit locally and wants to meet the necessary expenditure of the company in Bangladesh with that profit, you can apply to this Authority with
proper justification and sufficient supporting documents for exemption of condition-7 & 8.
10. You shall have to open an account with any scheduled Bank of Bangladesh for receipt of remittance to meet the expenses mentioned in condition-7 & 8 above.
11. Quarterly return of income and expenditure out of remittance receipt .from abroad shall have to be submitted to this Authority, Deputy Commissioner of Taxes,
Companies Circle-17 or clrcle-59(as applicable) and Bangladesh Bank.
12. Any change of your present address should be intimated to this Authority for necessary action before the change is actuated.
13. The permission Issued under this order does not exempt you from the responsibility for obtaining clearance from any other Govt. agency If required under the
existing Laws/Rules of the country.
14. You are not entitled to open any other business establishment beyond what has been sanctioned under the coverage of this order. If you intend to open any business
establishment other than this, you have to apply separately.
15. Income tax shall have to be deducted at source while paying house rent, salaries, bills for supply of goods, services and contract work & subsequently to be
deposited to the government accounts as per provisions of Income Tax Ordinance, 1984.
16. The permission issued under this order may be revoked, suspended and altered either in part or whole and new condition be added at any time without assigning
any reason thereof.
17. The Company shall have to bring inward remittance of at least USS 50,000.00 within 2 (two) months from the date of issue of permission letter as established cost
and 6 months operational expenses failing which the Company shall have to remit 5% additional amount for each month.
Yours Faithfully,
Copy forwarded for kind information & necessary action to:
1. Bangladesh Bank, Motijheel CIA,Dhaka
(Attention: The Governor).
2. Ministry of Foreign affairs, Segunbagicha, Dhaka
(Attention: Foreign Secretary).
3. Ministry of Home Affairs, Bangladesh Secretariat, Dhaka
(Attention: The Secretary).
4. National Board of Revenue, Segunbagicha, Dhaka
(Attention: The Chairman).
(Md. Ariful Hoque)
Director (Commercial)
Phone: 55007213
Email: arif@bida.gov.bd
Bangladesh Investment Development Authority, Prime Minister's Office, Plot # E-6/B, Agargaon, Sher-E-Bangla Nagar, Dhaka-1207,
Phone: PABX 88-02-55007241-5, Fax : 88-02-55007238, E-mail: info@bida.gov.bd, Web: www.bida.gov.bad
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Notification under Section 18B ofthe foreign Exchange Regulation (Amendment) |Act, 2015
On Establishment of Branch Offee.
A/G: JGC Corporation
oTei (7he Compary stall have to bring invard remitance|of at least USS 50,000.00 within
02 (hwo) months from the date ofissuelof permission letter ds established cost and 6 months
operational expenses failing which the fompany shall have td remit 5% additional amount for
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Slandard Charlered Ban Uice afhe Chiel Eaecubve Olicer, Bangladest
15 JUL 2020
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Standard
Chartered
03 February 2022
Ref: $CB/ACS/DOCI2022-02-b3/1692
The General Manager
Foreign Exchange Investmen Department|
Bangladesh Bank
Head Office
Dhaka
Notification Under Section/18B of Forejgn Exchange Regulation (Amendment) Act 2015
on Establishment of Branch Office by JGC CORPORATION (AIC:1310147
Dear Sir,
This is in reference to the instruction number 02 of your letter ref. Boimubil729/B-BIBIDHO/2020-
1934 dated 07/07/2020
We are enclosing herewith the encashment certificates with Inward payment customer advice
copy & Board Resolution coby submitted by our client, JGC Qorporation (Branch Office) fÇr your
kind consideration according to your instruction. We apoldgize for the late reportingwhich
happened due to miscommunications within our units and assuring to be more careful in future.
Attached relevant documents have been yerified and attested
Sincerely Yours,
S JN_
Gazi Salimul Hoque
Senior Manager, Liability Orboarding
Operations & UDR
Moble: 01713061829
Phone: 096663 55211
Email: Gazi-Salimul. Hoque@sc.com
Employee ID: 1153902
Ma Rashidul Aziz
Senior Manager, Liability Ondoarding
Operations & UDR
Mobile: 48801911344098
Phone: +8809666355552
Email: Md-Rashidul.Aziz@sc.com
Employee ID: 1167513
Ehclosure:
1. Copies of Encashnment Certificate for USD 20,000 &USD 15,000
2. Copy of Inward Payment customer advices for USD 52,500
3. Copy of Board resolution copy
4. Copy of Bangladesh Letter dpte-g.072020 Cen esh Bank
in J'ie, Dhaka,
Common ces Jarmert 1
CR&DSection
07 FEB 2022
$tandard Chartered Bank
67 Gulshan Avenue, Gulshan
Dhaka-1212, Bangladesh Rece: B8e003 V(880-2) 8833004
Fax (8860-2}-989 44455 www.sc.com/bd
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