How to start a business in Bangladesh
How to start a business in Bangladesh as foreign investors:
Local investors can start business easily although we do not guide the local investors. Our main focus is only to guide the foreign investors who are planning to start business in Bangladesh.
Know Bangladesh at first before planning to start a business: Human behavior, required business licenses, cost of business setup, political environment, population density, investment sectors, possibility of investment return, income tax rate, VAT, market and many other things.
Private Limited Company Registration
Registration of branch office
Permission of project office
Above information are required for the legal formalities. Starting a business as foreign investors are little bit complicated in Bangladesh. Many other licenses are required to start Manufacture Company. However, after completion of legal procedure and licensing you are permission to start business in Bangladesh. Some other steps should keep in mind:
Business location: Dhaka is the biggest traffic city. Location of business is an import issue.
Rent office: As law, trade owners have to rent commercial office to start business and commercial space renting is expensive. You may ask for good suggestion to consultant. You may rent virtual office to save money and time for certain period or longer.
Foreign staff hiring: BOI has the right to approve hiring of foreign staffs. Foreign investors have to bring US$ 50,000 in bank to prove of capability of hiring so.
EPZ: There are advantage and disadvantage to setup office inside of export processing zone. Tax free for certain period upon conditions.
Man power cost: It’s cheaper than many countries and labor force can save your money comparatively setup office in another country.
Raw material: I hope, raw materials are available if you have garments business. But machines are imported in most of the cases.
Prospective sectors to start business in Bangladesh
Garments, manufacture, power, education, highway, tourism, transport, IT and labor supply business.
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