Registering foreign companies in Bangladesh is now easier than before. The Bangladeshi government is now promoting and encouraging foreign investment in Bangladesh. Bangladesh will now be a developing country very soon. As a result, there will be a great economic change in the near future. As an investor or entrepreneur, you have many opportunities to invest in various sectors of this country. Bangladesh’s main resource is the human population. You will get an easy workforce by giving a low cost compared to other parts of the world.
So, if you want to start a business with Bangladesh, here is the rest of the article for you.
So how to start a business in Bangladesh?
As a foreign investor, the Bangladeshi government welcomes you to start your own business. The paperwork procedure is becoming flexible and simple for all foreign investors to register foreign companies in Bangladesh. So what do you have to do? Simply follow these steps below and voila.
RJSC (Register of corporations and companies) is the only authority that grants you the license to register or incorporate the company. Then, at first, you must take an RJSC Name Authorization.
What is the name authorization?
Name authorization means the name of your company that you want to use as your company’s brand identity. And make sure that this name is not used by others in the territory of Bangladesh. therefore, to guarantee this, you must obtain a certificate of name authorization from the RJSC. Visit the RJSC website for more details. You will only have to verify the name of the RJSC database for the registration of foreign companies in Bangladesh. And if available, you will have to pay the name settlement fee at a prescribed bank.
After obtaining your name authorization, you must prepare an Association Memorandum (MOA) and an Association Article (AOA).
What will be included in the MOA and AOA for the registration of foreign companies in Bangladesh?
- Should you mention how many directors will be in your company?
- How much will be your authorized capital and paid capital?
- Passport of the whole director and if it is Bangladeshi that NID
- How many actions and percentage of actions will each take?
- Name and address of all shareholders, directors and managing directors.
- Name authorization certificate.
- Cell phone number of all share holders, directors and managing directors.
- The TIN Certificate is not required for foreign citizens.
- Email account of all shareholders, directors and managing directors.
- If you are under a joint venture that a joint venture agreement
- Ensure foreign capital investment by foreign directors.
Then, after the fulfillment of all the previous information in the MOA and AOA. You must send them to RJSC. After examining all the documents and the authenticity of the documents, RJSC will deliver the Certificate of Incorporation.
After obtaining the RJSC license. You must open a business license from the location you want to start your business.
- What to accomplish the next task
- Open a bank account in the name of your company.
- Make an initial deposit as paid capital
- Take TIN and VAT Certificate
- Export license if you want to export
- Import license if you want to import