| (VII) FINANCIAL
REGULATIONS |
| (1) BORROWING |
Domestic borrowing in foreign currency is not available.
Domestic borrowing in local currency can be provided by the
commercial banks operating in the country.
|
(2) FOREIGN
LOAN |
| There is a 15% withholding tax for interest paid
to non-resident lender. |
(3) FOREIGN
EXCHANGE |
Foreign borrowings and foreign equity investments would require
prior approval from MIC. All foreign investments should be registered
with MIC to enable applications for capital repatriation and
profit remittance.
|
| (4) REPATRIATION
OF CAPITAL/PROFITS |
Remittance of profit and capital repatriation are subject to
prior approval of MIC and are also subject to Foreign Exchange
Regulations.
|
|
