Our service area: Bangladesh branch office open of foreign company;
- Branch, representative, liaison office set up permission from BOI, BEPZA (free zone area)
- Work permit and directors visa (PI and E Visa)
- Income tax and audited Accounts service
Contents
Procedure of branch and liaison office open in Bangladesh
- Forward an application to BOI (Board of Investment) after filling up
- Collect prescribe form from BOI office or our office
- Company name shall remain the same as the parent company, no separate name is a need.
- Let, the parent company name is XYZ LIMITED, here the same name will appear.
- Name reservation is not required in Bangladesh for the branch office.
- Be prepare following attested papers from the embassy of Bangladesh and notarized where parent enterprise is located:
- Incorporation certificate of the parent company
- MoA and AoA of the main corporation
- Board meeting resolution from the parent company to set up a liaison office
- Accounting and audit report of the year of the parent company
- Provide business activities of the branch office in company letterhead
- Expected date of starting operation in Bangladesh business to open a branch office
- Expected initial expenditure information fill up in the prescribed form of BOI
- Mention in application form source of finance to invest in Bangladesh
- Power of Attorney of the lawyer or attorney or legal representative
- An attorney shall responsible to forward all required papers to BOI to open a liaison office
- Ensure US Dollar 50 thousand (fifty thousand) to remit in company account in Bangladesh
- Provided that 5 percent additional charge shall be applicable if the said amount is not transferred by 2 (two) months from the date of permission
- Enclose office rent or lease documents
- Enclose foreign manpower list in the letterhead of the company
- To remember, foreign employment ratio is 1: 5, one foreign is equal to five local employees
Time Line of Branch Office Approval
- 30-45 days need from application date
- As one meeting hold once in month, sometimes 2 meeting holds when more applications are submitted
- Additional time or second meeting might need if application is rejected for lack of papers
Fees of opening branch and liaison office
- Taka 35000/- Chalan to government, Sonali Bank
- Office expenses of Taka 10000/-
- Professional Fees might Taka 30000-50000
Post-registration of branch office
- Permission is given for 2 years normally
- Open a bank account in any scheduled bank
- Remit USD 50000/- as a requirement within maximum of 2 months.
- Do not forget to apply before three months of the period ending to renew the permission along with requiring papers
Apply for PI and E Visa
- Employees and investors both can apply for visa
- Visa is approved for 3-5 years
- Supporting papers are:-
- Academic certificate and any experience papers
- Appointment letter from branch office
- Passport and photograph
- New paper advertisement copy
- Branch office open permission copy
- Number of employees list
- Salary as schedule of appointment for foreign staffs
- Foreign employee is generally appointed as country manager
- Technical and engineer foreign staffs are tax free for first 3 years.
Advantages of representative and liaison office
- Tax free
- Eligible to hire foreign staffs
- Foreign technical staffs are tax free for first 3 years
Disadvantages of branch and liaison office
- USD 50000 has to remit at beginning and renewal
- Permission is approved for 2 years only
- Branch office is not permissible to receive or credit any payment from customers
- Limited of business activities
- Branch and representative office can not sale service and goods
Other information of branch and representative office
- Collect form 18B from the central bank (Bangladesh bank) to withdraw the remit amount.
- Remittance amount is allowed to use ONLY for carrying on operation purpose in Bangladesh
- Branch office, liaison or representative all are same rules.
- No single money can transfer from branch account to any country
- Additional permission is need from Home Ministry to Bangladesh to open branch office, rep and liaison office
- Income tax shall be applied on the project base office
- Provided that all 18 terms and condition have to follow by the branch office, representative and liaison office
Branch office application form
Contact us: +8801790220728 (Only WhatsApp call and text), Mirpur-1, Dhaka, Bangladesh