Do you want to know the way of business setup in Bangladesh as foreigner / nonresident? 100% foreign ownership company, subsidiary company, branch office open is allowed as law of Bangladesh. RJSC permission, BOI approval, income tax and VAT license, bank account opening, remittance of $ 50,000 for work permit, enjoy tax free zone area to setup business and setup factory or garments business in Bangladesh have different policy from each other.
It’s not so easier and similar of others states. Although many foreign investors like to invest in many sectors considering good return within short time due to many causes for example; labor cost, raw materials, similar industry, easy to manage government, old machinery use permission, tax rebate and some more issue. We shall discuss in detail point by point as follows:
The process of company registration in Bangladesh or business setup in Bangladesh are shown below:
Shareholders or directors: Minimum two shareholders are required to meet with law open a company in Bangladesh and no local shareholders/ directors are required. Same shareholders will act as director of the company.
Capital: There is NO limitation of investment capital to start a business in Bangladesh as foreigner unless need to apply for work permit or E visa.
Joint venture or merger: Foreign entrepreneurs may merge business with other business and or start joint operation and private limited business setup Bangladesh by law.
Let share information of Bangladesh company registration steps:
This is government body of every pvt ltd company registration approval authority. Name of company and incorporation certificate are issued from this department.
Temporary bank account:
All banks are not familiar to open account of foreign ownership companies. Very limited banks are expert in this field, if you keen to open new company in Bangladesh is requested to contact us.
NBR, revenue board of Bangladesh open services for income tax certificate to the overseas directors and the process is not easier and accounting firms in Bangladesh. Company/business tax number is provided unless personal, directors tax number is ready.
It’s a law that all business will be situated in commercial building at any place of Bangladesh.
Unless have bank certificate and office in commercial place VAT license is not given by the VAT authority.
License authority of Bangladesh
All below mentioning authorities approve business license: