Starting A Business in Bangladesh As Foreigner

Steps of company formation in Bangladesh as foreigners are shared below. This is not like local shareholding company registration from RJSC. As foreign and local, both companies will be followed by Company Act 1994. There must be 2 share holders, 1 of them is Chairman and another one is Managing Director. Contact S & F Consulting Firm, as they are expert to handle foreign shareholding company setup since 2012. Legal papers are foundation of a business, that must be strong. There is a proverb that, local shareholder (Bangladeshi) person is required to start LLC, that is FALSE. As foreigners can hold full shares of the company and can open subsidiary company in Bangladesh as well.

Company registration steps are:

1. Contact Expert (FDI consultant-S & F CONSULTING FIRM)
2.  Fill up forms and signatures
3. Open temporary bank account for remittance purpose
4. Propose company name in proposed board resolution
5. Once company incorporation is done apply for Trade License 
6. Apply for TIN
7. VAT
8. Export and import license (If need)
9. Membership from any chamber of commerce (if need)
10. Make sure rental tenancy agreement
11. Factory setup (if manufacture)
12. Rajuk plan (for manufacture)
13. Manpower authority (manufacture)
14. BOI permission (For visa, work permit and branch office open)
15. Convert your temporary bank account into permanent.

Company Registration and licenses Time

To register limited company will takes 10 days if bank letter is managed faster. Other licenses time as Trade License-7-10 days. Tin number can manage by same day. VAT registration takes 7-10 days as new policy. Earlier it could manage by 3 days. Other licenses or permission like membership from chamber of commerce will take 3-7 days. Export and import- 5-7 days time need to obtain licenses. Fire licenses can be managed by 7 days. Factory setup permission might need 3-5 days. Ensure plan copy by architecture in amount of Taka 100000 to above.

Advantages

As everything is possible in Bangladesh to easier to generate revenue. Labor cost, operation cost and living cost are cheaper than many cities in the world. Other supporting goods, accessories and materials are available in nearby. Anything can obtain by money if know where will pay. Tax consultant will give you comfortable and inspire of investment. 

Disadvantages

Nothing is manageable without extra money in Bangladesh. Life is insecure and money transfer from Bangladesh to overseas is restricted and no banks will allow it. Income tax rate is 30 per cent and above. Heavy traffic will make live difficult unless used to.

Question and Answer

Can I open LLC in Bangladesh?

Ans-yes, can but at least 2 partners are needed.

How much investment can i start up?

Ans- We recommend to show investment (paid up)capital in Taka 500000.

Can foreigner hold 100% shares?

Ans-Yes can.

Can I open subsidiary company in Bangladesh?

Ans- Yes can. 

Who is the legal expert?

Ans-Contact S & F Consulting Firm

Can I open public limited company?

Ans- Yes can. But minimum 5 shareholders are required along with other conditions.