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Company Registration in Bangladesh
Bangladesh does not have a complicated process for business formation- all thanks to the simplified and transparent system. LLP is the most preferred option among all the business structures, particularly for non-native investors. The RJSC oversees the process of company formation. It stands for The Registrar of Joint Stock Companies and Firms. However, the first-timer may stumble upon some legal complexities while incorporating their company. In such cases, you can avail yourself of Adviso’s service without any second thought. Let’s delve deeper into the legal implications concerning company registration in Bangladesh.
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Requirements for Private Limited Company Registration in Bangladesh:
Directors:
- The availability of two directors serving a legal age is mandatory.
- One of the directors must have qualification shares.
- There is no cap on the nationality
Shareholders:
- At least two directors are required.
- Only 50 shareholders can serve a single company.
- On some grounds, the roles of director and shareholder can overlap
- Foreign investors can have 100% shareholding.
Authorized and Paid-Up Capital:
- There is no cap on the authorized capital.
- Minimum paid-up capital has been capped at $1 for a private limited company and $50,000 for a Bangladesh branch.
- Paid-up capital must find its way to the bank account before registration.
Registered Office Address:
- The presence of a legalized local office is mandatory.
- All companies must have a trade license to stay operational
Documents Required for Company Registration in Bangladesh:
- National ID for Bangladeshi directors or shareholders.
- Detailed business activity description.
- MoA, Articles of Association, and relevant documents.
- Registered office address.
- Shareholder information.
- Passports for foreign directors and shareholders.
- Name clearance certificate from RJSC.
How does Adviso help you secure company registration in Bangladesh?
Although Company registration in Bangladesh is not that complicated, sometimes things may not end as expected. That’s where Adviso comes in. Here’s how our professionals proceed with the company registration process.
Step 1: Company Name legalization
In this step, we will approach the competent authority to reserve the company name. While reserving the company name, we will ensure that the selected name is free from any legal issues to prevent future mishaps.
Step 2: Opening a Temporary Bank Account and Remittance of Share Capital
In this critical step, we will help you open a temporary bank account to hold the share capital. Post this, we will help you ensure the remittance of share capital and secure the encashment certificate.
Step 3: Finalization of Registration Forms, Memorandum, and Articles of Association
Next, our professionals will help draft the charter documents and double-check them for factual and legal accuracy.
Step 4: Application submission
Next, we will visit the RJSC, the competent authority, to submit the registration application. The form filling shall done by our experienced professionals. Not doing so can lead to severe mistakes, costing your time and money.
Step 5: Securing Trade License and tax registration
In this crucial step, we will help you secure the trade license by filing an application and arranging the necessary documents. Following this, our experts approach the tax authority to secure the tax identification number, a unique code assigned to legally-abiding firms. If applicable, we will help you secure VAT.
Step 6: Bangladesh Corporate Bank Account Opening
Lastly, our professionals shall take care of the banking formalities, paving a platform for you to execute corporate transactions seamlessly.
FAQs for Company Registration in Bangladesh:
Limited Liability Partnership is the most favored option
A minimum of two directors is mandatory, with no nationality restrictions.
Yes, roles can overlap, and a company can have a maximum of 50 shareholders.
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Adviso ensures a seamless process by legalizing company names, facilitating the opening of temporary bank accounts, finalizing registration forms, submitting applications, securing trade licenses and tax registrations, and assisting with Bangladesh corporate bank account opening.
