The climate is favorable for setting up a business in Bangladesh. The government has laid the necessary foundations for a period of extended economic growth. Entrepreneurs are feeling confident and taking risks again. Thinking of setting up a business? This might help!
The Regulatory Authority
The RJSC is the authority which governs the formation of new companies. They keep track of all ownership related issues.
Types of Companies
You will need to decide what type of company you want to establish.
Companies Act 1994
Societies Registration Act of 1860
Partnership Act of 1932
Clearance of Names
This process of choosing a company name has been computerized since 2003. After checking the availability of the desired name, the businessman has to apply online on the RJSC website. The status of the application can be checked online. This usually takes no longer than one working day. A print of the name clearance certificate must be submitted to the RJSC.
Payment of Stamp Fees
For share capital of Tk 1,000,000, the fee is Tk 2,500.
Stamps for the Articles of Association and the Memorandum of Association are included.
Submission of Document
Name clearance certificate
Memorandum and Articles of Association
Form I (Declaration on the registration of the company)
Form VI ( Notice of the registered office)
Form IX (Consent to act as directors)
Form X (List of persons)
Form XII (Particulars of directors etc)
Proof of Payment
Fee for six documents is Th1,200
Obtain a Tax Identification Number (TIN)
Register at the Deputy Commission of Taxes of Company Circle.
Register for Vat
Register with Customs, Excise, and VAT Commission.
Obtain a Trade License
You can get this from the city corporation, this is split between north and south.