One Person Company (OPC) Formation in Bangladesh
An One Person Company (OPC) is a new type of business entity that was introduced in the Companies Act of 1994 in Bangladesh in 2022. OPCs are designed to make it easier for individuals to start and operate their own businesses.
Advantages of One Person Company
- Limited liability
- Separate legal entity
- Easy to establish and maintain
- Low cost of establishment
- Complete control over the business
Disadvantages of One Person Company
- Only one shareholder and director is allowed
- Minimum paid-up capital requirement of Tk. 25 lakh
- Annual turnover should not exceed Tk. 5 crore
Required Documents for Opening an OPC
- National ID card of the shareholder
- Recent passport size photo of the shareholder
- OPC incorporation 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 the Registrar of Joint Stock Companies and Firms (RJSC&F)
- Copy of Bank Solvency Certificate of the shareholder
- TIN Certificate
Additional Services Offered by Right Solutions
- Advice on the establishment and operation of an OPC
- Preparation of all necessary OPC incorporation documents
- Submission of OPC incorporation documents to the RJSC&F
- Follow-up with the RJSC&F to ensure that the OPC is incorporated promptly
- Assistance with other aspects of OPC establishment, such as bank account opening and tax registration
If you are interested in incorporating an OPC 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.