Procedure of foreign company registration in Bangladesh (subsidiary, limited liability) and complete business setup as foreign investment rules of Bangladesh are discussed step by step. There are 2 partners required whereas one partner will hold position as Chairman and Another one is Managing Director. Both of the partners will perform duties as guidelines of Company Act, 1994. Recently, one person can register limited company and the process is already started in RJSC. But, BIDA permission is must for all companies if there is foreign shareholder. Registration process is almost same as like local company registration but the difference is collection inward remittence letter from bank and submit to RJSC.
First Step of company registration
| First Phase of new company registration process | First Phase of new company registration process 2 |
|---|---|
| Name clearance of the business | Obtain Trade License from City Corporation |
| Prepare Memorandum & Article of Association | Apply for Income Tax Certificate of the business (as company name) |
| Prepare a board meeting resolution between promoters (as attachment file) that is initial part of company registration in Bangladesh as foreign entrepreneur | Apply for VAT (Value Added Tax) certificate |
| Remit an amount to your bank account (temporary bank account) as encashment which is part of paid up (investment) capital | Open Bank account |
| Obtain individual income Tax certificate (TIN-Tax identification number) showing your original passport to the National Board of Revenue, http://www.nbr.gov.bd | Company Incorporation (from Registrar of Joint Stock Companies and Firms, http://www.roc.gov.bd:7781 ) |
Second Step of LLC registration
| Second Phase: Company Registration Process | Second Phase: Company Registration Process 2 | Second Phase: Company Registration Process 3 |
|---|---|---|
| Apply for Fire License (optional) | Get membership from Chamber of Commerce/ BGMEA/ BKMEA or recognized chamber of commerce | Apply for Export and Import License |
Third Step of registration
| Phase Three: Company Registration Process in Bangladesh | Phase Three: Company Registration Process in Bangladesh 2 |
|---|---|
| Apply for visa | Submit all academic certificate and experience letter to BOI in case of hiring foreign employees and publish the vacancy posts to daily newspaper of Bangladesh |
| Apply for work permit to BOI (Board of investment, http://www.boi.gov.bd ) | Attach remittance certificate to BOI amounting USD 50,000 as enclosed |
| Advertisement to daily news paper for hiring man power of the company | Take clearance from Police department, National Security Intelligence and Home ministry for work permit in Bangladesh |
| Foreign employment ratio is 1:5 mean in case of hiring one foreign five local man power have to be ensured | Without remittance of US$ 50,000 application is not accepted by BOI. |
How to register a company in Bangladesh as foreigner ?
Do you think Bangladesh is a place of wise investment? Foreign entrepreneurs like to invest in garments, textile, buying house, IT, general trading, food, project, medical, transport, roads and high way and many more.
| Ins and outs of a new company registration in Bangladesh are discussed with Asking Questions and Answers: |
|---|
| How to incorporate a company in Bangladesh as foreign entrepreneur? |
| Incorporation your business from RJSC with supporting papers. |
| What are required papers to incorporate a new company in Bangladesh? |
| MoA, AoA, Form XII, Form IX, form VI, form I |
| What are required papers to get TIN (Tax identification number)? |
| Passport, photo, address and local contact number |
| How to get a trade license in Bangladesh? |
| Apply to City Corporation with supporting papers of MoA & AoA, rental agreement, TIN, passport, photo, Board meeting minutes and government and official extra fees. |
| ?How to get VAT license in Bangladesh? |
| Apply to the nearest seasonal office with supporting papers of original application form, photo, bank solvency certificate, trade license, MoA , AoA & agreement of rental. |
| How to open a bank account as foreigner in Bangladesh? |
| Fill up bank account opening form, attach passport copies, photos, rental agreement copy, TIN and contact number. |
| How to obtain Import and export license in Bangladesh? |
| Complete submission formalities to government office with supporting papers: Membership from Chamber of commerce, bank solvency certificate, undertaking, rental deed, passport, trade license, pay government, photo and official extra fees. |
| How to apply for fire license considering an investor? |
| Fire license is a one of major permission to require of starting new business in Bangladesh. Required papers are MoA, AoA, trade license, man power list, instrument list, government fees with official other expenses, building plan copy and passport. |
| How to obtain factory license in Bangladesh? |
| Apply to labor department of government of Bangladesh with supporting papers as fire license, building plan copy, passport, trade license, man power list, instrument /?machinery?purchase list, MoA and AoA. Government fees and other official?extra charges are required. |
| How to get garments / textile business license? |
| Apply to textile business permission authority by supporting copies are building plan copy, passport, trade license, man power list, instrument /?machinery?purchase list, MoA and AoA. Government fees and other official extra charges are?required. |
| How to get PI visa in Bangladesh? |
| Apply to BOI with required papers are US$ 50,000 bank paper, passport, photo, MoA , AoA, application, and fill up prescribe form. |
| How to get E visa in Bangladesh? |
| Employment list, appointment letter, academic certificate, salary confirmation, paper advertisement (may require), confirmation of US$ 50,000 bank letter, prescribe form. Submit all papers to BOI. |
| How to register a branch / representative office in Bangladesh? |
| Supporting papers are Business detail information, board meeting minutes, passport, photo, income source clarification, audit copy of parent company. Submit all papers to BOI. |
Fees of limited company registration in Bangladesh as foreigner
First step: USD 1000-1200 (service and general trading company)
First step+ second step: USD 1500-2000 (export import + general trading company)
First+second+third step: USD 3000-5000 (Production base company including trading and export, import)
A complete professional services are provided.
To know more information about company registration/ incorporation in Bangladesh, Click here
7-10 days. It depend on delivery of inward letter from bank and verification by RJSC.
Yes they can hold full shares of subsidiary & local LLC.
Yes, it is must to get a BIDA permission after registration from RJSC.
Contact us √ email@foreigncompanyregistration.com √ Banani, Awal Center, Dhaka √ Phone: +8801319340140 (Whatsapp) |