Business Incorporation in Bangladesh

Business Incorporation in Bangladesh

Our “Company Formation Assistance” refers to a program that acts as a one-stop-shop and first point of contact with customers. Often, depending on the essence of the market and other applicable factors, counsel clients on potential solutions. There are numerous private firms/agencies in Bangladesh that have this kind of assistance. Once a decision has been taken, they assist clients in establishing their company, whether it is in a specialized zone or elsewhere in Bangladesh. The Company Formation Assistance service in Bangladesh is defined as follows:

Clearance of names is the first step

(To begin, you must obtain permission from The Registrar of Joint Stock Companies and Firms for your company’s name (RJSC).)

Secondly, prepare the required documentation

( must ready to the Articles of Association (AoA) and the Memorandum of Association (MoA) (MoA). You must draft it along with other forms as conditions for RSJC enforcement when planning them.)

Thirdly, Make a bank account:

(If you want to hire foreign workers, you must open a bank account under the planned company’s name and make an inward remittance of at least US$ 50,000. They will assist you with the bank account setup.)

Fourthly, Records must be sent to the RSJC:

(You must send the necessary papers to the RJSC and pay the registration fees in this process.)During the normal phase time, you can also look at RSJC for the integration certificate.)
Finally, Compliance after registration:
(You now have a newly incorporated company in Bangladesh with the certificate of incorporation, Articles of Association (AoA), and Memorandum of Association (MoA).)

You may also complete the following licenses and registrations:

  • Trade License (A trade license is a document/certificate that allows an applicant (person who wants to open a shop) to start a certain trade or business in a specific area/location.)
  • Tax Identification Number (TIN) (The National Board of Revenue is the only authority in Bangladesh that can issue a Tax Identification Number (TIN) (NBR).
  • VAT Registration Certificate (VAT registration and a Company Identification Number are required to resume routine business operations, including involvement in tenders, banking practices, and export and import.)
  • Fire Certificate (According to the Bangladesh National Building Codes (BNBC), any structure of more than six stories is considered a high rise. House owners must adhere to fire safety regulations and install firefighting equipment in those structures. Building owners must seek Fire Service certification prior to completing construction work.)
  • Environmental Clearance Certificate (if necessary) (According to the Bangladesh Environmental Conservation Act of 1995, environmental clearance is required for all types of industries and projects. An Environmental Clearance Certificate (ECC) from the Department of the Environment is required for every industrial establishment (DOE).)
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