Bangladesh, like most other authorities, has a set of initial and continuing regulatory compliance requirements for establishing and maintaining a business.
Because of our lean-and-mean approach, you can rely on our team of specialists to provide you with a flawless experience throughout the business registration process in Bangladesh.
This presents a serious question: Can anyone register a company without hassle in Bangladesh?
Yes, The first are the promoters’ documentation (Pan Card, Address, and Identity proof of the shareholders and directors). The second set is for the company’s registered address, where a utility bill is given for registered address evidence along with a NOC from the owner of the premises.
Let’s talk about diving into that!
How Can I Register My Company In Bangladesh?
Starting a company is an exciting time for a startup, and a lack of accurate information can lead to unneeded confusion and delay in company registration.
This page aims to give the necessary information for forming a corporation in Bangladesh.
The tax rate for Branch offices (where applicable) is 32.5 percent and the deadline for filing the income tax return is the 15th day of the seventh month following the company’s year-end.
Estimated Cost For Registration Procedure of Company
The cost of forming a business in Bangladesh is determined by the type of company founded.
To establish a business in Bangladesh, an estimated capital of BDT 318320 is required. The charge is BDT 4125 (BDT 2925 registration costs + 1200 registration filing fees).
3 Main Steps In Registration Procedure of Company
In Bangladesh, the company registration process is partially digital. The method for establishing a Bangladeshi corporation consists of three parts.
We will look through all of the steps you need to do to get your new business’s certificate of registration.
Step 1: Name Verification
The first step in forming a Bangladesh business is to secure name permission for the intended company name.
To apply for a name clearance, go to www.roc.gov.bd and create a username first.
Step 2: Open a bank account and deposit the paid-up capital
To create an account, funds equivalent to the shares to be owned by foreign shareholders from outside of Bangladesh must be deposited.
The bank will provide an Encashment Certificate, which the RJSC will require for formation.
Step 3: Formal Company Registration
The application for registration procedure is finished after the money is made in the bank. Officials from the RJSC will review the documents and information. The final step is to enter all of the necessary information on the RJSC’s website.
List Of More Documents To Be Needed
Membership in any Chamber of Commerce & Industry (optional but mandatory for obtaining either Import Registration Certificate – IRC or Export Registration Certificate – ERC).
Import Registration Certificate (IRC) for commercial or industrial raw materials by submitting an application in prescribed form to the Chief Controller of Import & Export.
Export Registration Certificate (ERC) may be obtained by submitting an application to the Chief Controller of Import and Export.
The issuing of Industrial IRC requires the approval of BIDA.
Any other license required depending on the nature of the company operation.
4 Major Advantages Of Register A Company
There are various benefits to forming a company, including restricted personal responsibility, easier ownership transfer, business continuity, improved access to financing, and (depending on the corporate structure) occasional tax benefits.
The legal form of your organization, as well as the benefits you gain from it, will be determined by the exact configuration of your firm.
1. Personal liability protection
A corporation shields its owners’ personal assets from liabilities more than any other business form.
One of the primary reasons firms want to incorporate is to insulate themselves from personal responsibility.
2. Business security and long-term viability
Corporation ownership is based on percentage stock ownership, which provides far more flexibility. Than other organizations kinds in terms of transferring ownership and long-term commercial viability.
3. Access to capital
Access to money is a privilege that other organizations do not enjoy. It is beneficial not only for corporate growth, but also for preventing a firm from going bankrupt in times of necessity.
4. Tax advantages
Any income identified as owner remuneration is subject to self-employment tax, while the balance of the business profits are taxed at their own rate (no self-employment tax).
A Lot of Time Required For Registration- A Myth!
For company registration it takes a lot of time which is not advantageous for your business. Actually this is not true.
Setting up a corporation online typically takes 3 to 6 working hours from start to end.
But normally it takes 2-3 weeks from the date of submission of all paperwork to RJSC to establish a company.
In most circumstances, a business formation application may be completed in 5 to 10 minutes and a ready to trade firm registered on the same day.
FAQs For Register A Company
1. Which is the best place in Bangladesh to set up a company?
Ans: Dhaka is the best place in Bangladesh to establish a business since it has the most traffic.
2. Can a foreign-owned business in Bangladesh hire foreign staff?
Ans: Yes, you may recruit international workers. To employ, please contact BIO. To gain clearance on the employment capabilities, the organization must bring $50,000 to the bank.
3. What is company law in Bangladesh?
Ans: According to the Companies Act of 1994, a company is “a company incorporated and registered under this Act or an existing company.”
As a result, a company is created under the Companies Act of 1994 by a group of persons who work together to achieve a similar goal.
As a result, this document will provide you a thorough overview of the business registration criteria, processes, and timeline for founding a company in Bangladesh.
Schedule a meeting with our company lawyer if you require further information or legal assistance with the registration of your business.
Please let us know as soon as possible.