For Foreign National
A foreign national residing in his/her own country may invest in the capital market of Bangladesh. He has to take the following steps to invest in the secondary market of Bangladesh:
Opening a NITA Account
It is a cash account where investors can send their respective currencies from their country. After the fund is sent it becomes Bangladeshi Taka in this account. Through this account the investor shall invest in Bangladesh. Thus opening a NITA account is the first step that has be to taken by the investor.
City bank would be assigned as the custodian. The job of a custodian is to execute all sorts of activities on behalf of the Client i.e. Opening a Beneficiary Owners (B.O) account on clients name. Custodian shall comply with all the wishes of the client. A deed has to be signed between the client and the custodian, so the custodian shall have the authority.
Beneficiary Owners Account
The client then will have to open a B/O account in Dragon Securities Ltd via authorized custodian. Once the account is complete, funds can be transferred anywhere in the world anytime. In order to open a B.O account the client or the custodian will have to submit the following documents to the broker as a requirement of Your Customer (KYC):