News: Registration of company in Bangladesh

Bangladesh also known as the People’s Republic of Bangladesh, it is a southeastern Asia country sharing borders with India and Myanmar. The capital of Bangladesh is Dhaka. It is among the top ten most populous nation in the world with over 160 million people. The official language of Bangladesh is Bengali with the Bangladeshi Taka (BDT) its official currency.

Bangladesh is home to the longest sea beach and largest mangrove forest on the planet earth, it’s a nation with a steady annual economic growth over the past years. It is considered to have one of the world’s largest water transport networks which allow the nation not to depend on neighbouring countries, facilitating the delivery of company products around the world.

Bangladesh is a member of the ICAO (International Civil Aviation Organization), its membership in this organization has enabled the airspace over its jurisdiction to conform to the modern requirements set out by the convention.

The government of Bangladesh is a unitary parliamentary constitutional republic. The nation is a member of the UN, Commonwealth of Nations, WTO, World Bank, International Monetary Fund (IMF), OIC, ICAO and many more. The legislative framework in Bangladesh is regulated by the Companies Act 1994 and Securities & Exchange Commission Act 1993, the Registrar of Joint-stock Companies and Firms (RJSC), the Company House of Bangladesh is the authority responsible for company related activities in Bangladesh.

Benefits of Company Formation in Bangladesh

• Political and economically stable state;
• Rapid economic growth;
• Favourable tax regimes for Bangladesh registered a business;
• Favourable government policies backing foreign investments;
• Competitive labour costs;
• Complete foreign ownership;
• No minimum share capital requirements;
• Access to purchase properties in the company’s name;
• Strategic access to the South East market (For example, China and Bangladesh signed a duty-free agreement meaning Bangladesh registered companies can access the Chinese market at no extra costs);
• Double tax treaty agreements with over 30 countries.

Business in Bangladesh: Taxes

1. Corporate tax rate - 25%;
2. Capital gains tax - 15%
3. Dividends, royalties and Interests - 20%
4. Value Added Tax (VAT) - 15%
5. Double tax treaty agreements signed with over 30 countries.

Business in Bangladesh: Types of companies

• Private Limited Company
• Public Limited Company
• Branch of a Foreign Company
• Representative office
• Subsidiary Company

Bookkeeping in Bangladesh

• Annual return filing requirement - Yes.
• Annual audit requirement - Yes.
• Annual account filing requirement - Yes.

Company Formation Requirements

1. Certificate of Incorporation;
2. Memorandum and Article of Association;
3. Minimum of two shareholders and directors for a Private Limited Company;
4. Minimum of seven shareholders and three directors for a Public Limited Company;
5. No minimum share capital requirements;
6. Notarized passport copies;
7. Company Promoter’s Resolution;
8. Declaration of Registration;
9. Directors and Shareholders’ register;
10. Tax certificate;
11. Legal registered contact and address.

How to Register a Company in Bangladesh: The Registration Process

Step 1. Law and Trust works with the client to get the company’s name and activity approval from the RJSC;

Step 2. Law and Trust works with the client to secure the Article and Memorandum of Association (MOA);

Step 3.  Law and Trust works with the client to open a corporate bank account in Bangladesh;

Step 4. Law and Trust collects, prepares and files the necessary incorporation documents on behalf of the client to the relevant authorities for approval;

Step 5. Law and Trust deliver the certificate of incorporation personally to the client or via courier service.

Bangladesh Company Formation FAQs

How much does it cost to register a company in Bangladesh?

The cost of registering a company in Bangladesh is $3990. The total cost includes the preparation of legal documents, company registration, payment of all taxes and fees at the time of registration and legal address for the company (a year).

How long does it take to register a company in Bangladesh?

It takes from six weeks to complete the company registration process in Bangladesh.

Do I need a local address to register a company in Bangladesh?

Yes, it is required to have to a registered local address in Bangladesh to complete the necessary company registration and formation process.

Do I need a local registered agent to register a company in Bangladesh?

Yes, a local registered agent is needed to complete the company registration process in this jurisdiction.

How can I register a company name in Bangladesh?

The registration of a company name begins with the filing of the appropriate documents, Law&Trust helps with preparation and compilation of the necessary documents ensuring it meets the requirements set out by the RJSC, the Company House of Bangladesh with regards to the approval of a company name.

WHY INCORPORATE WITH LAW&TRUST INTERNATIONAL?

Benefits of company registration, formation, and incorporation services with Law&Trust International in Bangladesh include:

Full range of related services: Provision of a full range of legal, corporate, government, and business intelligence related services in Bangladesh. A detailed overview of our services includes full legal support of the company registration procedure, obtaining a legal address, interaction with the official government authorities of the jurisdiction, state fees, legal address of the company for a year, production and registration of company stamps and advising the client as part of the registration process. Opening a bank account and the cost of these services are discussed during the consultation.

Professionals and expertise of Law: Worldwide registration and legal maintenance of companies, accounting services, and audit, tax planning and optimization, trademark and patent registration. Law and Trust provide clients with the best company incorporation services.

Domestic service: Law&Trust ensure our services cover every region, area or state in Bangladesh. Be rest assured that no matter where the new company intends to incorporate in Bangladesh, we’ve got the location covered.

Free initial advice: Free consultation from the lawyers of Law&Trust International regarding strategies or the provision of services for analyzing and developing a legal position on an issue the client raises in Bangladesh.

Confidentiality: Law&Trust makes use of modern technological features to keep the records and details of every client safe.

Efficiency and productivity: Strategically providing up to date personalized services to help your business succeed.

READY FOR COMPANY INCORPORATION?

If you are interested in registering and incorporating a company in Bangladesh, contact Law & Trust International by simply sending an email or call now to take your business to the next level!