Procedure Of Register A New Company in Bangladesh
This guide will give you a comprehensive understanding of the requirements, procedure, and schedule for forming a private register a company in Bangladesh. Bangladesh, like most other countries, has a set of initial and continuing regulatory compliance requirements for founding and running a business. Even if you’re a foreign investor, this will assist you in comprehending Bangladesh’s legal framework for foreign investment.
The Process Of Register A Company
Registration can be divided into 3 parts
2.COMPLETE REGISTRATION PROCEDURE
1. Name Clearance:
To begin, you must obtain clearance from The Registrar of Joint Stock Companies and Firms for your company’s name (RJSC).
2. Drafting of required document:
The RJSC would provide the certificate of incorporation. In particular, the MOA and AOA would be provided.
3. Opening a bank account:
If you intend to hire foreign workers, you must open bank accounts in the prospective company’s name and make an inbound deposit of at least TK 50,000.
4.Submission of documents to the RSJC:
To register with the RJSC, you must submit all relevant documentation and deposit the registration fees. During the regular process time, you can also check into RSJC for the incorporating certificate.
Complete The Registration
After doing the previous process authority needs to pay the fees of RJSC by the prescribed bank. Then complete the registration from the office of the registrar of the Joint Stock Company RJSC.
At last receive a certificate of registration from the same organization.
You now have a freshly established company in Bangladesh with the articles of registration, Articles of Association (AoA), and Memorandum of Association (MoA).
You must also complete the following licenses and registrations:
- Tax Identification
- Number for a Trade License(TIN)
- Certificates of VAT Registration,
- Fire Certificates.
- Environmental Clearance Certificates (if necessary)
The Main Challenges To Register A Company
- The entity can no longer maintain an action, proceeding, or procedure in court once it has been registered.
- The Attorney General may prohibit it from doing business in the state.
- The foreign entity would have faced a maximum fine equal to all taxes and fees if it had registered when it was initially required.
- A company that has been doing business in the city for more than ninety (90) days may be required to pay a delayed filing fee equivalent to the registration fee by year or part of the year it has been late.
The Benefits Of Company Registration In Bangladesh
- An economy that is focused on growth.
- Investment in the future was allowed.
- Repatriation was allowed.
- There is no requirement for a minimum capital investment.
- Entrepreneur Tax Exemptions.
The Services Which Can Help To Overcome The Problems
We can assist you with filing your Foreign Company rapidly and simply. Among the services we provide are:
- Check if a name is available for free.
- Getting documents ready for your review of international qualifications
- Any country where you seek to incorporate a foreign entity should transmit those documents to the proper state agency.
- Complete any further filings that are required, such as media publications, first reports, or information statements.
The client was satisfied with the results of the service. .Our specialists will assist you in determining the optimum structure for your company and developing a long-term growth strategy.. We had to allocate a number of full-time services to the clients within the given time.Our team managed the problems and saved a significant amount of time.
Registering a new company can be a complex process that involves various legal and regulatory requirements. However, it is also an important step towards establishing a business and achieving your entrepreneurial goals.
When registering a new company, you need to choose a business structure, register with the appropriate government authorities, obtain necessary licenses and permits, and comply with tax and employment laws.
It is important to carefully research and understand the legal requirements and obligations associated with starting a new company. Seeking professional advice from lawyers, accountants, and business advisors can also be helpful in navigating the registration process.
If you need professional help with company incorporation, please contact us.