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.
According to foreign company registration official data, 78 foreign firms were created in the country under company’s law in the previous financial year.
Government approval is required, and some industries prohibit both domestic and international investment for foreign company registration.
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.
There are different types of company in Bangladesh such as private limited company, public limited company
5 Steps To Do Foreign Company Registration
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).
Prepare the necessary documentation: As part of the RJSC's requirements, a foreign company in Bangladesh will have to draft it alongside other forms.
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.
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.
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
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.
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.
How long is the average establishment period for a foreign company in Bangladesh?
Including foreign company registration process, it takes approximately 45-65 days.
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