Currently Bangladesh is one of the emerging economic tigers of Asian countries for profitable business, so enthusiastic foreign investors are coming here to invest in different types of business sector. Basically foreign entrepreneurs can register joint venture companies or 100% foreign companies in Bangladesh. Joint Venture Company means that both foreign entrepreneurs and local entrepreneurs jointly conduct business and pay equity investments in its company.
Potential business sectors in Bangladesh:
There are large profitable companies that are here to invest business capital and make a profit in the respective business. Now, most of the possible business sectors in Bangladesh are private companies where local and foreign entrepreneurs are investing their capital to do business, manufacturing, export, import, etc. The main profitable sectors are frozen food, export of potatoes, seafood, handicrafts, ready-made garments, jute products, IT sector, shrimp lobster and eel fish, hotel and nursing home, food processing plants, agriculture, and hospitality and tourism sector. Now, the world’s renowned chain company has established a branch, liaison office or regional office in Bangladesh.
Registration process for foreign and joint venture companies in Bangladesh:
The same thing about registering a company and forming a company at RGSC (Office of Registrar of Joint Stock Companies and Firms). The first step in the formation of the company is the name clearance of the proposed name from the RJSC, if the RJSC approves the company name, RJSC will issue a company name clearance certificate. Learn more about activities. In general, there are two types of organizations; one is a public limited company and the other is a private limited company. The Private Limited Company shall have at least two (two) directors or shareholders and a maximum of 50 (fifty) directors or shareholders. The Private Limited Company has three divisions such as a local company, a foreign company and a joint venture company. Foreign companies (5% foreign shareholding company) where 5% of directors or shareholders are citizens of foreign countries, joint ventures where Bangladeshi shareholders and foreign shareholders are jointly conducting business and damaging the company by establishing risk, business development, profit and loss at RJSC. Registration / Limited Company Up. The local company is a percentage of their directors or shareholders who are Bangladeshi citizens. To prepare foreign companies (100% owned by foreign nationals) the Memorandum of Association and Association of Articles requires some information which is mentioned in it. Private Limited (100% owned by a foreign citizen) is a list of the information required to prepare the memorandum and articles of association of a foreign company or joint venture company.
Flow information required for registration of foreign companies in Bangladesh:
- Apply for the name clearance of the proposed company in the RJSC
- Company name permit certificate issued by RJSC
- Names of all shareholders, directors, directors, and directors
- Address of all shareholders, directors, chairmen and directors of directors
- The TIN certificate (taxpayer identification number) does not apply to a foreign national
- National Identity Card (Voter ID Card) for the National Citizen
- The cell phone numbers of all shareholders, directors, directors, and directors
- Email accounts of all shareholders, directors, directors, and directors
- Specifying the number of shares of each shareholder, director, chairman and managing director
- The directors of the company must be mentioned as part of the qualification
- To specify who are the shareholders, directors, chairman and managing director of the company
- Mention the paid-up capital and the authorized capital of the company
- Passport number (compulsory for foreign nationals) is an option for Bangladeshi citizens without a national ID card
- Assure foreign directors of investing in foreign equity
- Joint Venture Company Joint Venture Agreement (if Joint Venture Company)
Submit fee of the company’s memorandum and articles for public payment and memorandum and association article to RJSC in Bangladesh. The RJSC scrutinizes all (submitted papers) documents and issues the law firm’s certification under the law of the agency. RJSC is the sole legal authority for company registration in Bangladesh, company return filing, company share transfer, share allocation and other activities. At present, the Government of Bangladesh wholeheartedly encourages national, multinational, foreign and local enthusiastic entrepreneurs to invest in the profitable business sector of the country for the most handsome benefit. The representative’s office/branch office will have to come to Bangladesh from overseas, with a company account of US $ 1.5 billion or the equivalent of the estimated initial development costs and business expenses. The branch office has no legal right to engage in any kind of lucrative business activity.
After obtaining the company’s certificate of incorporation, we collect the company’s trade license to start the company’s business on a smaller scale. First, we need to collect export and import registration certificate to start an international business with our foreign countries to open import and export trade. The VAT registration certificate and TIN certificate are the most useful documents for local and international businesses and for certain businesses for the approval of a specific ministry of government.