Documents need to be submitted to BIDA physically or through the website of the organization. After going through proper scrutiny of all documents, the officials of BIDA will place the application and documents to the Inter-Ministerial Committee.
The Committee will then review the documents and might ask for more documents or a physical presence. If the committee is satisfied with all the presented documents, then they will provide the approval. The Inter-Ministerial Committee generally sits twice every month; the usual timeline is one month or less.
Generally, the authority provides approval to open a representative or branch or liaison office initially for a period of 3 (three) years which can be extended later.
After acquiring the approval for opening a Representative or Branch or Liaison office, a bank account needs to be opened in any scheduled bank in Bangladesh.
An amount of foreign exchange that is equivalent to US$ 50,000 or more needs to be brought in as inward remittance in Bangladesh within 02(two) months from the date of issuance of the BIDA permission letter.
- All Documents (item 2-5) need to be attested by the concerned Bangladesh mission/mission of the respective country in Bangladesh/respective country’s Apex business chamber/local business chambers.
- 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.
- After reviewing the above-mentioned documents BIDA might ask for more 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.