The Foreign Company Registration Service In Bangladesh

A Complete Process To Foreign Company Registration For 2022

Step-by-step instructions on how to register a foreign company in Dhaka, Bangladesh (subsidiary, limited liability) as well as how to build up a complete firm in accordance with Bangladesh's foreign investment legislation. There are two partners necessary, one of whom will serve as Chairman and the other as Managing Director. Both partners will carry out their responsibilities in accordance with the Company Act of 1994. One individual can now register a company name as a limited corporation, and the process has begun in RJSC. However, if a company has a foreign stakeholder, BIDA approval is required. The overseas company registers are nearly identical to that of a local firm, with the exception of collecting the inward remittance document from the bank and submitting it to the RJSC.

The percentage of foreign business registration mostly sponsored by the government (54%) and those primarily paid by consumer payments remains about equal (46%).

Focus Point:

If you are a foreigner considering starting a business within Bangladesh, here are a few things to consider:

1. The company's directors and stockholders might be of any nationality according to foreign business registration law.

1. The suggested company name must be the same as the bank account you register for the foreign corporation registration.

1. The investor does not need to be in Bangladesh to complete the foreign corporation registration process.

Note: If the investor only intends to form a Private Registered Company and not to relocate to Bangladesh, no special visas are necessary for the overseas company registers.

Required Documents For Foreign Business Registration

These documents must be prepared to commence the overseas company registers procedure in Bangladesh:

1. Register Company name

2. Articles of Association and Memorandum

3. Particulars of the Shareholder

4. Particulars of the Director

5. A physical address that has been registered.

6. If the shareholder or director is not really a Bangladeshi resident, a copy of his or her passport is required.

7. The subscription page with a signature of Form IX

Shareholders should be informed that the foreign business registration procedure in Bangladesh is mainly mechanized; nonetheless, not all steps are completed manually.

Step By Step Process For Foreign Corporation Registration

The following are the processes to forming a overseas company registers in Bangladesh:

Step 1: Get Your Name Cleared

Before a company may be incorporated in Bangladesh, the proposed name must be authorized. A name clearance application must be sent to the RJSC, along with the application form as well as the desired name as register company name.

Step 2: Documentation

For the purposes of foreign company registration, the required information must be created and compiled:

1. Articles of Association (AOA) and Memorandum of Association (MOA)

2. Foreign promoters' decision to register company name in Bangladesh

3. Obtaining and completing some forms is another documentation requirement for overseas company registers.

Step 3: Formalities Concerning a Bank Account

The promoters must create a temporary savings account in the prospective company's name with any scheduled bank, with the understanding that the account would be regularized after properly completing the foreign business registration with the company house. The capital contribution must be remitted to the special account after the account has been formed, and an Entitlement certificate must be acquired from the bank stating that the need to look for the investment has been properly remitted and received.

Step 4: Documents to be submitted to the Register

Finally, an application must be sent to the RJSC for foreign corporation registration, along with all of the above-mentioned documents, as well as the government costs. After reviewing all paperwork, the RJSC registers the business and issues an article of registration.

Compliance After Foreign Business Registration

Following the completion of the foreign company registration process, a Limited Company may be required to receive any or all of the relevant documentation:

1. Investment Registration Board

2. A trade license from the local government.

3. National Board on Revenue Tax Identifying Number (TIN) (NBR)

4. NBR Vat Registration Certificate

5. Bangladesh Fire Brigade and Civil Protection Authority Fire Certificate (for industrial ventures)

6. If the business is engaged in industrial undertakings, an Environmental Clearing Certification from the Department of the environment is required (for industrial ventures)

7. Foreign national investor visas, work permits, and employee visas.

To Conclude

We are here to assist businesses and investors like you that want to expand into new areas get off to the best possible beginning for maximum success. Contact today to learn more about our services and how we can assist you with your foreign company registration in Bangladesh.

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