5 Step By Step Guideline To Follow
There are various reasons that Bangladesh is emerging as one of the world’s most promising new markets. Flexibility to international investment, competitive labor prices, and quick economic development are only a few of the essential elements. It is critical to understand which partnership firm is open to international stakeholders before making an investment. This guideline will walk you through the knowledge of foreign company registration services.
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According to foreign company incorporation official data, 78 foreign firms were created in the country under the company’s law in the previous financial year.
Focus Points:
1. Government approval is required, and some industries prohibit both domestic and international investment for foreign company registration.
2. If foreign workers are to be hired, investors should take note that internal remittances of fewer than 50,000 wards are required for foreign company doing business in Bangladesh.
3. There are different types of company in Bangladesh such as private limited company, public limited company.
4. Foreign companies registered in Bangladesh are subject to various taxes, such as income tax, value-added tax (VAT), and customs duties. You need to be aware of the tax implications of your business activities and comply with the tax laws and regulations in Bangladesh.
5. As an employer in Bangladesh, you need to comply with the labor laws and regulations set by the government. These laws cover various aspects of employment, such as minimum wage, working hours, holidays, and social security.
5 Steps To Do Foreign Company Registration
1. Exemption by name: If any foreign company doing business in Bangladesh, they need to get approval of their company name from the Registrar of Joint Stock Companies (RJSC).
2. Prepare the necessary documentation: As part of the RJSC’s requirements, a foreign company in Bangladesh will have to draft it alongside other forms.
3. Create a bank account: For foreign company registration process, if any company wants to hire a foreign labor, they’ll have to open bank accounts in the company’s name and send at least US $ 1.50 in internal remittances.
4. Send the material to the RJSC for review: A foreign company in Bangladesh must submit all relevant papers to the RJSC and deposit the registration cost in this step.
5. Registration completion: You’ll receive your Certification of Incorporation, Articles of Association (AOA), and Memorandum of Agreement (MOA) at this period, and you’ll have completed the foreign company registration process in the proper way.
Questions To Ask
1. How many additional licenses are needed to do foreign company registration process?
As a foreign company doing business in Bangladesh, you may require the following additional licenses: Trade license, Fire Certificate, Tax identification number (TIN), VAT registration certificate, Environmental approval certificate etc.
2. How much is considered a minimum capital contribution for a foreign company in Bangladesh?
In their rules, $1 is the minimum capital contribution for a foreign company doing business in Bangladesh.
3. How long is the average establishment period for a foreign company in Bangladesh?
Including foreign company incorporation process, it takes approximately 45-65 days.
Are You Planning To Hire A Foreign Company Registration Service?
We are providing foreign company incorporation services for many years in Bangladesh. Our advisors will gladly help you register your business in Bangladesh. We are ready to help foreign company in Bangladesh to start a business.
If you’re planning to register a foreign company, hiring a foreign company registration service can save you time and effort by handling the legal and regulatory requirements and ensuring compliance with local laws and regulations.
