Payroll2Bangladesh is one of Bangladesh’s leading liaison office setup service providers. Maintain liaison/ coordination between principal and local agents, distributors/exporters’ institutions through correspondences, personal contracts, and other electronic media, collect, compile, analyze, and disseminate business information related to its field of activities as mentioned in the approval letter are just a few of the activities that a foreign company’s Liaison Office can do.
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- The prescribed application form,
- A Memorandum of Association (MoA) and Articles of Association (AoA) for the principal company;
- Certificate of Incorporation for the principal company;
- Names and nationalities of directors of the principal company;
- Resolution by the Board to open a branch in Bangladesh;
- The audited financial accounts;
- The proposed organizational chart of the office, which shows the posts to be occupied by expatriates and locals;
- Describe the activities of the proposed office.
- Apply in a prescribed form, duly completed, signed and sealed,
- Articles of Association and Memorandum of Association of the principal company;
- Certificate of incorporation of the principal company;
- Names of directors/promoters of the principal company;
- Resolving that a Liaison Office should be opened in Bangladesh;
- Company’s audited financial statements for last year;
- Projected organizational chart of the office, showing the posts to be occupied by both locals and expats;
- The proposed office’s activities listed on the Company letterhead.
Upon receiving the permission of the Liaison Office, a fee of BDT 25,000/- will need to be deposited by Treasury Challan at any branch of Bangladesh Bank or Sonali Bank. The Liaison Office license would be valid for three (three) years, after which the license would need to be renewed through BIDA. After getting the approval for a liaison office, a bank account must be opened in any bank in Bangladesh. The amount of foreign exchange equivalent to US$ 50,000 or more must be brought into Bangladesh within 02(two) months from the date of BIDA permission. A Liaison office must be registered with the RJSC once it has received approval from the BIDA
Foreign companies are allowed to operate liaison offices in Bangladesh only on a limited basis, provided that none of the operations are profitable. A liaison office will only provide market analysis and representation services. The List of Approved Activities for the Bangladesh Branch Office can be viewed by clicking here.
In Bangladesh, the cost of forming a business is $3990. The entire cost covers legal document creation, business registration, payment of all taxes and fees due at the time of registration, and the company’s legal address (a year).
The Branch or Liaison Office is a legal entity registered with the BIDA in Bangladesh. Multinational business extensions are not separate legal entities. The parent company of the Branch or Liaison Office is indirectly responsible for all debts and liabilities of the Branch or Liaison Office, unlike a subsidiary of Bangladesh.
- The application process should take between 30 and 45 days.
- There is usually a meeting once a month, but sometimes two meetings are held when more applications are submitted.
- If application is rejected for lack of papers, additional time or a second meeting may be required.