Board of Investment
Prime Minister's Office
Ref No: 03.219.344.00.00.0000.474.08022016 Date: 08 March 2016
Country Manager,
ASTY INC.
House # 08,1st, 3rd & 4th floor
Road # 13, Sector # 03,Uttara,Uttara
Dhaka-1230
Sub: Permission for opening of Liaison Office
Dear Sir,
With reference to your applications received on 08.02.2016 & 15.02.2016 on the above subject, this is to inform you that according to the decision of 200 th Inter-
ministerial Committee meeting held on 29.02.2016, the Board of Investment of Bangladesh has been pleased to allow you to open Liaison Office in Dhaka for a period
of Three (03) years with effect from 01.03.2016 on the following terms and condition:-
1. The activities of your Liaison Office shall remain confined to Market Research of Textile and Quality Check.
2. You shall have to report to Bangladesh Bank within 30(thirty) days of obtaining permission from Board of Investment 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 commercial nature and the same reported letter
shall have to submit to BOI 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 form at
least 2(two) months before expiry of present term.
4. Ministry of Home will issue security clearance In favour of your office after' verification.
5. If you intend to employ any foreign national(s) in your office, prior government approval should be obtained from this Board. 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
from abroad.
8. No outward remittance of any kind from Bangladesh sources will be allowed.
9. 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.
10. Quarterly return of income and expenditure out of remittance receipt .from abroad shall have to be submitted to this Board, Deputy Commissioner of Taxes,
Companies Circle-17 or clrcle-59(as applicable) and Bangladesh Bank.
11. Any change of your present address should be intimated to this Board for necessary action before the change is actuated.
12. 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.
13. 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.
14. 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.
15. 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.
16. The Company shall have to bring inward remittance of at least US$ 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.
Copy forwarded for kind information & necessary action to:
1. Bangladesh Bank, Motijheel C/A,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).
Yours Faithfully,
( Dr. Khandoker Azizul Islam )
Director (Commercial)
Phone : 9562546
Email : azizul@boi.gov.bd
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Board of Investment, Prime Minister's Office, Jiban Bima Tower, 10 Dilkusha C/A, Dhaka-1000, Bangladesh
Phone: PABX 88 02 956 1416, 957 7271-2, Fax: 8802 956 2312, E-mail: service@boi.gov.bd, Web: www.boi.gov.bd