Foreign Company Formation Service In Bangladesh

Foreign Company Formation Service in Bangladesh involves assisting international businesses in establishing a legal presence within the country. This service includes navigating the regulatory framework, registering the company with the Registrar of Joint Stock Companies and Firms (RJSC), and obtaining necessary licenses and permits. It also involves compliance with the Foreign Exchange Regulations Act, tax registration, and ensuring adherence to local laws and business practices. Professional firms providing this service offer guidance on selecting the appropriate business structure, preparing and filing the required documentation, and advising on corporate governance. This facilitates a smooth and efficient entry into the Bangladeshi market for foreign entities.

Steps of opening a foreign company  In Bangladesh

To open a foreign company in Bangladesh, an entrepreneur must follow these nine specific steps:

  • Name Clearance Certificate: Apply to the Registrar of Joint Stock Companies and Firms (RJSC) to obtain a Name Clearance Certificate for the proposed company name.
  • Pay Stamp Duty: Pay the required stamp duty at a Designated Bank.
  • Company Registration: Submit the necessary documents to the RJSC for company registration.
  • Create Company Seal: Make an official company seal for legal and formal use.
  • Open Bank Account: Open a bank account in the name of the company for financial transactions.
  • Trade License: Apply for a trade license from the respective City Corporation or Municipal Corporation where the company will operate.
  • TIN Certificate: Approach the National Board of Revenue (NBR) to obtain a Tax Identification Number (TIN) Certificate.
  • VAT Registration: Register with the Customs, Excise, and VAT Commissionerate for VAT purposes.
  • BIDA Registration: Apply to the Bangladesh Investment Development Authority (BIDA) for registration and approval to operate as a foreign entity.

These steps ensure compliance with local regulations and establish the legal presence of a foreign company in Bangladesh.