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 also disseminate business information related to its field of activities as mention in the approval letter are just a few of the activities that a foreign company’s Liaison Office can do.
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A Liaison Office Setup, on the other hand, is not permit to engage in any business or commercial activity in Bangladesh for the purpose of producing money, as it is not liable to corporate tax in Bangladesh. Branch offices of foreign companies already incorporate outside of Bangladesh must register also.
Bangladesh has attract many foreign investors in recent years. Registering a branch office in Bangladesh provides the flexibility of not needing to incorporate a fully pledg company in Bangladesh. In Bangladesh, there will be no local source of income for a liaison office setup. The parent firm will be responsible for all setup and operations expenditures, including compensation for expatriates.
Among the many ways to initiate business in Bangladesh, establishing a branch office is among the most viable options for foreign investors. As it does not require the hassle of incorporating a 100% foreign-owned company in Bangladesh. Branch offices of foreign companies already incorporated outside of Bangladesh must register as such.
Bangladesh has attracted many foreign investors in the recent years. Registering a branch office in Bangladesh provides the flexibility of not needing to incorporate a fully pledged company in Bangladesh. Create a Bangladeshi branch office and conduct all the business a Bangladeshi corporation has the right to do. Listed below is a procedure for incorporating a branch office in Bangladesh.
To open a Branch office, and for foreign investors seeking to open a Branch office, permission from BIDA is required. The applicant must submit the following documents, attested by the Bangladesh Embassy or High Commission, or the Apex Chamber of Commerce, of the country of origin, in order to obtain such permission:
Companies and investors wishing to take advantage of Bangladesh’s liberalized FDI caps should carefully consider their investment options in the country and available avenues for setting up a business. The following outlines the functions and requirements for liaison offices in Bangladesh.
In Bangladesh, foreign companies can open a liaison office to facilitate and promote the parent company’s business activities, and act as a communications channel between the parent company and a domestic company. Those foreign affiliates unable to engage in commercial, trading, or industrial activities must depend on private, inward remittances from their parent companies. Liaison offices are permitted to carry out the following activities:
There will be no local source of income for a Liaison office in Bangladesh. The parent company aboard is liable for all setup and operational costs, including salaries of expatriates and local employees of the Liaison or Representative office.
Bangladesh Investment Development Authority (BIDA) must grant permission for Liaison Office Setup. Foreign investors must submit an application in the prescribed form, along with the following documents. Which must be attested by the Bangladeshi Embassy/High Commission of the country of origin or the Apex Chamber of Commerce of the country of origin also:
Upon receiving the permission of the Liaison Office Setup, a fee of BDT 25,000/- will need to be deposit 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 renew through BIDA. After getting the approval for a liaison office, a bank account must be open in any bank in Bangladesh.
The Representative Office & Liaison Office Setup in Bangladesh operate as one business entity in Bangladesh. Its operation & scope of work is different from that of a branch office. A liaison office can carry out very limited activities as long as it maintains communication with the local agency, distributors and exporters via direct contact, electronic communication, and also correspondence.
As specified in their letter of approval, the liaison office sometimes collects business information, complies analytical business data. And conducts studies related to their area of responsibility. Liaison offices are not allow to earn from local business activities. All costs related to establishment, operation, and employee management are borne by the Parent company.
Get in touch with our Company lawyer for more information if you need assistance in registering your liaison office setup. If you need professional help with a branch office or liaison office setup or with foreign investment, please contact us.
Payment is required by bank pay order and the original of the pay order should be submitted to BIDA. The fee is BDT 25.000 (Twenty five thousand).
After submitting an application, there is a 3- to 4-week wait. It will take another 2 weeks to complete the remaining formalities.
For most applications, permission is granted for a period of three years, after which it can be renewed.
There is a government fee of approximately USD 300 for BIDA registration. The local government will charge an additional 100 USD to obtain a trade license.
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Foreign companies are allow to operate liaison offices in Bangladesh only on a limit basis, provide that none of the operations are profitable. A liaison office will only provide market analysis and representation services. The List of Approve Activities for the Bangladesh Branch Office can be view by clicking here also.
In Bangladesh, the cost of forming a business is $3990. The entire cost covers legal document creation, business registration. The payment of all taxes and fees due at the time of registration. And also the company’s legal address (a year).
The Branch or Liaison Office is a legal entity register 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.