The Royal Monetary Authority of Bhutan would like to bring to the kind notice of the general public for information and compliance that some of the Bhutanese individuals have been opening and maintaining accounts abroad without prior approval from the RMA.
In this regard, we would like to notify the general public that as per Section 46 of the Foreign Exchange Rules and Regulations 2018, a Bhutanese person may not open and maintain foreign currency account abroad except for the following:
(i) diplomatic and consular mission of Bhutan located abroad and their staff;
(ii) authorized bank with prior approval of the RMA;
(iii) Bhutanese citizens stationed outside Bhutan for higher study, training, or employment abroad;
(iv) public corporation and trust fund approved by the Royal Government with regular operation abroad; and
(v) Any other person specified by the RMA.
Individuals violating provisions of the Foreign Exchange Rules and Regulations 2018 and other guidelines issued by the RMA shall be liable for penalties as per the Penalty Rules and Regulations 2018.