Foreign Currency Account
think global, bank local.
We provide the following Foreign Currency Accounts as per RMA regulations.
- FC I – for Individuals;
- FC II – for Entities; and
- FC III (accounts opened under Inward Remittance Rule and regulation 2016).
Foreign Currency Account
different types.
Foreign currency account for all Bhutanese individual residing in Bhutan
- Staff of permanent diplomatic or consular missions of foreign government and international organization in Bhutan;
- Staff of representative office of donor agency;
- Staff of third country contracting firm engaged to execute project approved by the Royal Government of Bhutan and financed by donor agency;
- Individual Bhutanese citizens having earnings/remunerations in convertible currency in Bhutan; and
- All Bhutanese individuals residing in Bhutan
Requirements
Savings account.
FC II is a foreign currency account that can be opened by following entities:
- Permanent diplomatic or consular missions of foreign government and international organization in Bhutan;
- Representative office of donor agency;
- Third country contracting firm engaged to execute project approved by the Royal Government of Bhutan and financed by donor agency;
- Bhutanese manufacturing industry earning foreign currency;
- Bhutanese exporters exporting goods and services to India and third country;
- person receiving grant, donation or similar inward remittance in convertible currency
- for project that have been approved by the Royal Government;
- FDI company approved by the Royal Government of Bhutan; and
- Any other entity approved by the RMA.
Requirements
Savings account.
FC III is foreign currency account type that can be opened by Bhutanese living abroad for higher study, training, or employment abroad or having earnings in foreign currency, including foreign currency accounts opened under Remit Bhutan scheme. This type of account is governed by the RMA’s Inward Remittance Rules and Regulations 2016.
Requirements
Savings account & approval letter from RMA.
