Bank Account Opening

Registered Office Services

A foreign investor can generally operate its business in Bangladesh by opening up a Subsidiary Company or Branch office.

The Company, as mentioned above, is registered under Company House, i.e. Registrar of Joint Stock Companies And Firms (RJSC), and Branch Office or Liaison Office is registered at Bangladesh Investment Development Authority (BIDA).

Company: The foreign investors are required to obtain a name clearance for the proposed company in Bangladesh. To incorporate a Company under RJSC with foreign shareholders, the Passport copies of the shareholder/shareholder’s representatives and the directors along with the signed copies of the Articles and Memorandum, Form XII, Form IX, and passport size picture of all the shareholders and directors shall be required to be submitted to RJSC. Additionally, a bank account needs to be opened, where the foreign shareholders are required to remit the initial capital investment from their bank account in their home country. The bank certificate of such inward remittance shall also be required to be filed at the RJSC.

Branch Office: To incorporate a Branch, the documentation of the Parent Company, such as Incorporation certificate, Articles and Memorandum of Association, Financial statements etc., along with the reasoning of establishing the Branch needs to be submitted to BIDA.

Both above type of entities requires the following general licenses after the incorporation of the entities:

  • Tax Identification Number (TIN) certificate
  • VAT certificate
  • Tarde license

It is important to mention that both for incorporation purpose and to obtain the post incorporation licenses the entity needs to have a register office address which needs to be provided at the time of make the application for entity incorporation and also for obtaining the post incorporation licenses. It is often inconvenient for foreign investors to obtain a full pledged office for the incorporation of the entity. Hence a lot of investors opt for registered office services from law firms or financial firms. This is to be noted that the address can be changed anytime as the investors wish to do so by making an application to the authority, i.e. to RJSC or BIDA for company or Branch office respectively.  This helps the invertors to avoid unnecessary cost at the initial time of investment.