Not in the form of a single national security screening statute. Security considerations are applied through reserved sectors closed to private investment, sector licensing regimes with ownership and security conditions, security clearance for certain licences, projects and foreign personnel, and approvals on land, foreign exchange and investment registration, now handled through Invest Bangladesh. In practice, a foreign investor in a sensitive sector may face scrutiny from several agencies. We map those touchpoints for each transaction, so that the investor understands where foreign investment screening effectively happens in Bangladesh and how long it may take.

Sectors reserved for the state, such as arms and military equipment, nuclear energy production and security printing, are generally closed. Beyond those, sensitivity is highest in telecommunications, internet infrastructure and data centres, power and energy, ports and logistics, aviation, banking and financial services, media, and businesses holding large volumes of personal data. Some of these have ownership caps or licensing conditions, and regulators may seek security clearance on investors and key personnel. We review the current sector rules and licence conditions for each target before a deal is structured. Data and technology businesses deserve particular care.

Yes. Since 2020, India has required prior government approval for foreign investment by an entity of a country that shares a land border with India, or where the beneficial owner of the investment is situated in or is a citizen of such a country. Bangladesh is one of those countries. This means Bangladeshi companies and individuals investing in Indian companies generally need approval, even in sectors otherwise open to automatic investment. The definition of beneficial ownership can catch indirect holdings. We coordinate with Indian counsel on foreign investment screening filings and timing for Bangladeshi investors.

Possibly. The National Security and Investment Act 2021 requires mandatory notification and approval before completing acquisitions of control in entities active in seventeen sensitive sectors, such as energy, communications, data infrastructure, defence and artificial intelligence, and allows the government to call in other transactions. The test depends on the target's activities, not the investor's nationality, so Bangladeshi investors are treated like any other foreign or domestic acquirer. We work with UK counsel to assess whether a filing is needed and to prepare the investor information required, starting with the target's activities against the sector definitions.

It varies widely by jurisdiction, sector and complexity. Some regimes have statutory review periods, often with an initial phase followed by an extended review where concerns arise, and periods can pause while information requests are answered. Informal pre-filing discussions also take time. Bangladesh's sector-based processes do not always have fixed periods. We advise building realistic periods into conditions precedent and long-stop dates, preparing information in advance, and agreeing early how the parties will handle extended reviews, so that foreign investment screening does not cause a deal to collapse. Foreign investment screening timetables need float.

Expect questions about the full ownership chain and ultimate beneficial owners, board members and senior management, links to any government, state-owned entity or military body, sources of financing, other investments in the sector, and the investor's plans for the target, including access to data, technology and sites. Inconsistencies between filings in different countries, or with public information, attract attention. We help investors prepare a coherent investor profile and supporting documents, aligned with the Bangladeshi corporate and beneficial ownership records that authorities may also check. Every answer is checked against earlier filings and public records before submission.

In several jurisdictions, yes. Some screening regimes allow governments to review transactions after completion, particularly where a mandatory filing was missed or new concerns emerge, and to order divestment or impose conditions. Completing a notifiable transaction without approval can also make it void or expose parties to penalties. This is why screening risk must be identified before signing rather than after. We help clients review past acquisitions to see whether an approval was missed, and whether a voluntary notification or other remedial step is advisable in a particular foreign investment screening regime.

Outbound investment by Bangladeshi residents is controlled under foreign exchange regulation administered by Bangladesh Bank, and generally requires approval or must fall within permitted categories. A deal may therefore need both Bangladeshi foreign exchange approval and screening clearance in the target jurisdiction, each on its own timetable. The two processes should be planned together, because a foreign regulator may ask about the source and lawful export of funds. We advise on structuring outbound investment lawfully and aligning the information given to Bangladesh Bank and foreign screening authorities. Funding and signing dates should be set once both approval periods are understood.