A proprietorship concern is a business that is owned and operated by a single individual. It is the simplest and most common form of business entity in Bangladesh.
Advantages of Proprietorship Concern
- Easy to establish and maintain
- Low cost of establishment
- Complete control over the business
- No separate legal entity
Disadvantages of Proprietorship Concern
- Unlimited liability
- Difficult to raise capital
- Limited life of the business
Required Documents for Opening a Trade License for a Proprietorship Concern
- National ID card of the proprietor
- Recent passport size photo of the proprietor
- Trade license application form
- Rent receipt or premises ownership proof
- Holding tax payment receipt
- Declaration on non-judicial stamp to abide by the rules and regulations of City Corporation/Municipality/Union Parishad
- Copy of Bank Solvency Certificate of the proprietor
- TIN Certificate
Additional Services Offered by Right Solutions
- Advice on the establishment and operation of a proprietorship concern
- Preparation of all necessary trade license application documents
- Submission of trade license application documents to the relevant government authorities
- Follow-up with the government authorities to ensure that the trade license is issued promptly
- Assistance with other aspects of proprietorship concern establishment, such as bank account opening and tax registration
If you are interested in establishing a proprietorship concern in Bangladesh, contact Right Solutions today to learn more about our services. We can help you navigate the process smoothly and efficiently, so you can get back to focusing on what you do best: running your business.