Foreign Company Registration
Foreign Company Formation Bangladesh: foreign investor 100% ownership is allowed An entrepreneur has to follow nine specific procedures and legal steps to set up a business in Bangladesh. At the very first, the entrepreneur has to apply to the Registrar of Joint Stock Companies and Firms (RJSC) for a Name Clearance Certificate. After receiving the certificate, the next step is to pay stamp duty at a Designated Bank and again apply to RJSC for registration. Then the company makes a seal and opens a bank account and then applies for a trade license to respective City Corporation or Municipal Corporations. After completing all those procedures, the entrepreneur has to approach the National Board of Revenue (NBR) for receiving a TIN Certificate and registering with the Customs, Excise, and VAT Commissioner. Finally, the investor is required to apply to the Bangladesh Investment Development Authority (BIDA) for registration.
Name Clearance Approval for Foreign Company Formation
The first step is to apply to the Registrar of Joint Stock Companies and Firms (RJSC) for receiving name clearance approval for Foreign Company or any Company. This is a pre-requisite for registration of a new company (other than Foreign Company and Partnership firms) or a society or a trade organization. An applicant needs to apply via the RJSC website. The RJSC office will check the database and issue name clearance if it does not closely match or resemble any of the existing names. It will be valid for the next 30 days. An applicant will have to apply for registration within this timeline.
One-Stop Service Center
The BIDA coordinated the establishment of a One-Stop Service Center for
- Trade License from respective city corporations and local government bodies are given within 48 hours, assuming all required documents are provided. Bangladesh Investment Development Authority with local government division insures this service.
- Company registration from Joint Stock Register’s office company registration completes within 48 hours.
- Registration of Bangladesh Investment Development Authority is complete within a day, assuming all required documents are provided.
- Electricity connection’s results are given within 10 days after receiving the application from BIDA where a representative of power development board authority is working.
- Environmental certificates are given within 10 days from BIDA where a respective officer from the Environment Department is working.
- From the Bangladesh Investment Development Authority representative of Titas Gas Authority, the result of gas connection is given within 10 days from the date of application received.
- Foreign loan borrowing application disposed within 30 days assuming all required documents are provided.
- The tax-related complication is taken from BIDA by respective National Board of Revenue officers after getting an application from the entrepreneur and results are given within 10 days.
- Online services also provided by BIDA.
- Assistance for Land acquisition is supported by BIDA.
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