Easier & Straightforward Representative Office Setup Services In Bangladesh
As a 360-degree corporate service provider, we provide a complete solution for the setup requirements of your liaison office, branch, subsidiary or representative office in Bangladesh.
Setting up an agent or contact office in Bangladesh requires a few stages to be finished at a few specialists’ workplaces. We are a group of office arrangement specialists who can help you with the absolute strategy.
The name of the Bangladeshi Representative or Branch or Liaison Office should compare to the name of the Foreign Headquarter Company. There are some obligatory prerequisites that should be determined to open a Representative Office in Bangladesh.
A Branch or Liaison or Representative Office is an appropriate lawful substance once when enrolled with the BIDA in Bangladesh is considered as an expansion of the unfamiliar organization and not as a different lawful element. So get in touch with us to get the best services. Our valuation services are only for customer satisfaction.
Why Come Into Contact With Our Representative Office/Branch/Liaison Office Services?
Bring The Following 8 Documents We Ensure Your Branch Office Setup Services Legally
After getting approval from both Bangladesh Bank and BIDA, registration with the Registrar of Joint Stock Companies and Firm (RJSC) is required. The following documents will be needed:
We Ensure Your Legal Entity Successfully & Affordably
Records should be submitted to BIDA genuinely or through the site of the association. BIDA will put the application and reports to the Inter-Ministerial Committee.
Generally, the authority gives endorsement to open a delegate or branch or contact office at first for a time of 3 (three) a long time which can be broadened later.
The Committee will at that point survey the archives and may request more records or an actual presence. In the event that the panel is happy with every one of the introduced reports, they will give the endorsement. The Inter-Ministerial Committee for the most part sits double each month; the standard timetable is one month or less per regulation.
After gaining the endorsement for opening a Representative or Liaison Branch office, a ledger should be opened in any planned bank in Bangladesh. An measure of unfamiliar trade that is comparable to US$ at least 50,000 should be acquired as internal settlement in Bangladesh inside 02(two) months from the date of issuance of the BIDA consent letter.
- All documents (items 2-5) must be certified by the relevant Bangladesh mission of the relevant country in Bangladesh/the respective country’s Apex Chamber of Commerce/local Chamber of Commerce.
- If any document is not in English that must be translated into English before submission.
- 4 copies of all the documents must be submitted to BIDA.
- BIDA may request more documents after reviewing the above documents.
To open a branch/liaison/representative office a fee of BDT 25.000 (Twenty five thousand) is required to be paid via bank Pay Order. Then the original copy of the Pay Order needs to be submitted to the BIDA.
General Requirements for Setting Up Branch Office in Bangladesh Exactly
1. The application must be done in the prescribed form signed by the authorized person for establishment of branch/liaison/ representative office – 4 copies.
2. Memorandum and Articles of Association & Certificate of Incorporation of the parent company.
3. Name & nationality of the directors/promoters of the principal company.
4. Audited Accounts of the last financial year.
5. Resolution of the Company’s board of directors regarding the opening of an office in Bangladesh.
6. Proposed organogram of the office screening the posts to be occupied by both expatriates and local personnel.
7. Details of duties and responsibilities need to be performed through the proposed branch/liaison/representative office in Bangladesh.
8. Forwarding Letter needs to be submitted.
FAQ For Representative Office Setup Services
The abroad parent firm must have been in operation for at least three years to meet the conditions for set up a agent Office in Bangladesh. In addition, the foreign parent firm must have a sales turnover of at least $ 250,000 and have a maximum headcount of five people.
A Representative Office’s main function is to perform market research. It is not permitted to engage in profitable trading business activity. The number of employees should be fair and limited to a bare minimum. A Chief Representative Office must be appointed. The intention of relocating to Bangladesh.
The application must be approval by the appropriate authorities. There should be no issues with the approval process. If your abroad company is well established and your probable activities are within the scope of activities legal for a Representative Office.
It usually takes about a week for officials to approve an application. The authorities may at times request more explain. Which could cause the procedure to be delayed by another 1-2 weeks.