Introducing Foreign Company Registration In Bangladesh: Know It All

If you’re planning to expand your business in Bangladesh, one of the first steps is to register your company. Foreign company registration in Bangladesh can be a complex process, but it can be done smoothly with the right guidance. In this guide, we’ll cover everything you need to know about foreign company registration in Bangladesh, including the documents required, the process, and the timeline.

Why Register Your Company in Bangladesh?

Before we delve into the registration process, let’s first understand why you should consider registering your company in Bangladesh. Bangladesh is a fast-growing economy with a population of over 160 million. The country’s strategic location provides access to regional markets like India, China, and Southeast Asia. Additionally, the government has introduced several reforms to promote foreign investment, including tax exemptions, repatriation facilities, and simplified procedures for setting up a business.

Types of Companies in Bangladesh

There are several types of companies you can register in Bangladesh, including:

1. Private Limited Company: A private limited company is a separate legal entity with limited liability for its shareholders. It requires a minimum of two and a maximum of 50 shareholders.

2. Public Limited Company: A public limited company can have more than 50 shareholders, and its shares can be traded on the stock exchange.

3. Branch Office: A foreign company can also set up a branch office in Bangladesh, which is treated as an extension of the parent company.
4. Liaison Office: A liaison office can be set up by a foreign company for market research but cannot engage in commercial activities.

Documents Required for Foreign Company Registration

To register your foreign company in Bangladesh, you’ll need to provide the following documents:

1. Memorandum and Articles of Association
2. Board resolution for setting up the company in Bangladesh
3. Incorporation certificate of the parent company
4. Tax identification number (TIN) of the parent company
5. Passport copies of the directors and shareholders
6. Power of attorney for a local agent
7. Bank statement or bank reference letter

Process for Foreign Company Registration

The process for foreign company registration in Bangladesh is as follows:

1. Reserve a company name with the Registrar of Joint Stock Companies and Firms (RJSC).
2. Open a bank account in Bangladesh and remit the minimum required capital.
3. Register the company with RJSC and obtain a certificate of incorporation.
4. Register for TIN with the NBR.
5. Obtain a trade license from the local authority.
6. Register for VAT with the National Board of Revenue (NBR).
7. Obtain any other necessary permits and licenses.
8. Obtain permission from the Bangladesh Investment Development Authority (BIDA).

Timeline for Foreign Company Registration

The timeline for foreign company registration in Bangladesh varies depending on the company type and the documents’ completeness. However, on average, it takes around 1-3 months to complete the registration process.

Conclusion

In conclusion, foreign company registration in Bangladesh can be a complex process, but it can be done smoothly with the right guidance. Bangladesh is an attractive destination for foreign investment, with a growing economy and a business-friendly environment. To register your foreign company in Bangladesh, you’ll need to provide the necessary documents and follow the registration process. If you need any assistance with the registration process, please feel free to contact us.