Non-Resident Bangladeshis can invest in securities listed on the Dhaka Stock Exchange. The process requires two accounts, specific documentation, and compliance with Bangladesh Bank foreign exchange guidelines. This guide covers every step.
Who Qualifies as an NRB Investor?
Any Bangladeshi passport holder residing or working abroad qualifies. Foreign nationals are also eligible through the same framework, though additional documentation applies. The key requirement is non-resident status — you must be living outside Bangladesh.
Step 1: Open a NITA (Non-Resident Investors Taka Account)
The NITA is your gateway. It is a special BDT-denominated bank account governed by Bangladesh Bank’s Foreign Exchange Investment Department. All investment funds must flow through it — this is not optional.
Where to open: Any Authorized Dealer (AD) bank branch in Bangladesh. Major banks offering NITA services include City Bank, BRAC Bank, Mercantile Bank, Premier Bank, AB Bank, and Bangladesh Commerce Bank. The full list of authorized dealers is available on the Bangladesh Bank website (bb.org.bd).
How to open: Bangladesh Bank Circular No. 05 (August 2023) now requires authorized dealers to offer online NITA account opening through their web platforms. You no longer need to visit Bangladesh in person. The process involves submitting documents electronically and completing verification remotely.
Required documents (six items per Bangladesh Bank Circular No. 02, January 2023):
- Passport copy (valid Bangladeshi passport)
- Recent passport-size photograph
- Proof of current address abroad (utility bill, bank statement, or official correspondence)
- Proof of income source (employment certificate, pay slip, work permit, trade license, or tax return from country of residence)
- Nominee’s passport or NID copy
- Nominee’s photograph
All documents must be in English. Documents in other languages require certified English translation. Attestation by a Bangladesh High Commission/Consulate or a reputable international bank is required.
Step 2: Open an NRB BO Account
With your NITA in place, open a Beneficiary Owner’s account through a BSEC-licensed brokerage that serves NRB clients. The BO account holds your securities electronically via CDBL.
Required documents:
- Two passport-size photographs (attested)
- Passport copy or Social Security Card/Resident Card from country of residence (attested)
- NITA account number and bank statement
- Employment certificate or work permit as proof of NRB status
- Nominee details (photo, NID or passport copy)
- Power of Attorney (POA) — notarized — appointing a resident in Bangladesh to operate the account and sign documents on your behalf
The POA is critical. Since you are abroad, your appointed representative handles trading documentation, IPO applications, and account operations in person when required.
Cost: The BO account opening fee has been reduced by BSEC — annual maintenance is now approximately BDT 150 (effective FY2026), though some brokerages may charge additional service fees. Confirm the current fee with your chosen brokerage.
Brokerages with established NRB services include BRAC EPL Stock Brokerage, LankaBangla Securities, and NRB Bank Securities. Confirm NRB service availability before selecting a broker.
Step 3: Fund Your NITA
Remit foreign currency to your NITA through normal banking channels. The authorized dealer converts it to BDT at the prevailing exchange rate. You can also transfer from an existing foreign currency account held in Bangladesh.
Funds credited to NITA can be used to purchase listed securities through your broker and to subscribe to IPOs directly.
Step 4: Trade on the DSE
Once your NITA is funded and your NRB BO account is linked, you can trade. All buy and sell orders go through your appointed broker. Settlement follows the standard T+2 cycle.
For a detailed walkthrough of order types and trading mechanics, see our guide on how to buy shares on the DSE.
Tax Implications for NRB Investors
Capital gains: The National Board of Revenue (NBR) applies a 15% tax on annual capital gains exceeding BDT 50 lakh from listed securities. Gains below this threshold from listed securities are generally exempt for individual investors — verify current thresholds with a tax advisor.
Dividends: Non-resident individuals face a dividend withholding tax that varies by source — authoritative references cite rates of 20% to 30% depending on the applicable provision and investor category. Verify the current rate under the Income Tax Act 2023 with your tax advisor. This rate may be reduced under bilateral tax treaties between Bangladesh and your country of residence. For example, the Bangladesh-UAE tax treaty reduces the dividend withholding rate to 10%. Check whether your country has an applicable Double Taxation Avoidance Agreement (DTAA) with Bangladesh.
TIN: Obtaining a Bangladesh Tax Identification Number through the NBR e-TIN system is advisable for favorable tax treatment.
Repatriating Your Profits
This is where the NITA structure pays off. Under Bangladesh Bank guidelines, the NITA balance — including sale proceeds, dividends, and interest — is freely transferable to your foreign currency account and remittable abroad in equivalent foreign exchange. There is no separate approval process for repatriation of investment income through the NITA.
Retain transaction records and tax deduction certificates. Your authorized dealer bank handles the forex conversion for outward remittance.
Common Mistakes NRBs Make
1. Skipping the NITA. There is no workaround. Attempting to invest through a resident relative’s account violates Bangladesh Bank foreign exchange regulations.
2. Not appointing a reliable POA holder. Your POA representative has significant authority over your account. Choose carefully and define the scope of the POA document precisely.
3. Ignoring tax treaties. Many NRBs overpay on dividend withholding because they do not claim treaty benefits. Check DTAA provisions before tax season.
4. Choosing a broker without NRB experience. Not all brokerages handle NRB accounts efficiently. Ask specifically about their NRB onboarding process, NITA linkage, and remote trading capabilities before committing.
5. Not keeping a document trail. Every remittance, trade confirmation, and tax certificate should be archived. Disputes across international borders resolve slowly without documentation.
Document Checklist Summary
| Document | For NITA | For NRB BO |
|---|---|---|
| Passport copy | Yes | Yes |
| Photographs | Yes (1) | Yes (2) |
| Proof of address abroad | Yes | – |
| Proof of income/employment | Yes | Yes |
| Nominee NID/passport + photo | Yes | Yes |
| POA (notarized) | – | Yes |
| NITA account statement | – | Yes |
What to Do Next
If you are new to the Bangladesh capital market, start by understanding the basics. Our guide on how to open a BO account in Bangladesh covers the general BO account framework. For NRBs, the NITA is the additional layer that makes everything work.
The Bangladesh capital market remains accessible to its diaspora by design. The regulatory framework exists to channel NRB investment into the formal market. Use it correctly and the process is straightforward.
This content is for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell securities. Past performance does not guarantee future results. Tax rates and regulatory requirements are subject to change — verify current rules with Bangladesh Bank (bb.org.bd), BSEC (sec.gov.bd), and NBR (nbr.gov.bd) before acting. Consult a BSEC-registered financial advisor and a qualified tax professional before making investment decisions.