How to Register a Company in Bangladesh

How to open a company in Bangladesh: This publication and the infographic will provide you with a comprehensive overview of the process of Company registration in Bangladesh.

STEP BY STEP Process of registration of a company in Bangladesh (Company Formation)

This tutorial/guide will provide you with a complete description of the criteria, the procedure and the schedule for the company registration in Bangladesh, that is, how to open a company in Bangladesh. Bangladesh, like most other jurisdictions, has a set of original and ongoing regulatory compliance requirements to start and operate a business.

Keep in mind that most Bangladeshi companies are registered as private limited liability companies (often known as private limited companies) when they consider registering a new business or relocating their current business in Bangladesh. A private corporation is a separate legal entity in Bangladesh and the shareholders are not responsible for the company’s debts beyond the amount of share capital they have contributed. Any individual (foreign or local) over 18 can Register Company in Bangladesh under the Companies Act of 1994.

THE PROCEDURE OF REGISTRATION:

The company registration is partially computerized in Bangladesh.

The Bangladesh company configuration procedure involves five separate measures:

a) Name authorization;

b) Drafting documents (AoA, MoA),

c) open and bring the paid investment bank account;

d) company registration and, finally,

e) Post-registration procedures.

Step (C) is only relevant if the suggested business has any foreign shareholder.

The five-step process to open a company in Bangladesh

STEP 1: NAME AUTHORIZATION

To establish a business in Bangladesh, your first step would be to acquire a name authorization for the business name you are proposing. Visit www.roc.gov.bd and first generate a username. You can then request authorization for your name. You will get a bank payment receipt after you have sent the name authorization request and you must pay Taka 600 to the specified bank. You must log in to your account on the RJSC website after making the deposit and then obtain the name authorization.

Make sure the name is not identical or too similar to any current local business name that does not infringe any registered trademark, that is not obscene or vulgar, that is not reserved to increase your likelihood of rapid name approval. An authorized name will be reserved for 6 months from the date of authorization. You can extend the name just before the expiration date by sending an extension request.

STEP 2: DRAFTING DOCUMENTS

To open a company in Bangladesh, after authorization of the name, you must write the Association Article (AoA) and the Association Memorandum (MoA). While preparing these, you should write them along with other types such as RSJC compliance requirements.

STEP 3: Opening and deposit of the investment bank account paid

This step only applies if the suggested company has foreign participation.

You must then open a bank account with any bank programmed in Bangladesh with the suggested company name. You must remit cash equivalent to the shares of the account after opening the account that will be owned by the foreign shareholder from outside Bangladesh. The bank will issue a Collection Certificate that must be incorporated by RJSC.

STEP 4: Submission of Documents to RJSC for Registration

The fourth step on how to open a company in Bangladesh is to provide all the necessary data on the RJSC website. You must also load Form IX and the Subscriber’s Page. You will get a bank payment receipt to pay the registration fees along with the stamp duty after completing the entire process.

Also read: Guidance For Entrepreneurs To Start A Business In Malaysia

You are finished after making the bank deposit. Now you need to follow up with the RJSC to get the certificate of incorporation. The documents and data will be verified by the RJSC authorities. If they are satisfied, they will issue the Certificate of Incorporation I signed digitally; (ii) MoA and AoA; and (iii) Form XII. These documents will be mailed to your RJSC-related email address.

STEP 5: Post-registration formalities

There are cases in which the incorporation process can be postponed if the shareholders or managers are of certain nationalities, although this only occurs in rare cases. In such cases, the authorities may request additional information.

STEP 5: Post-registration formalities

DOCUMENTS ISSUED BY RJSC:

Certificate of incorporation: RJSC will issue the Certificate of incorporation of the company. The certificate will have the registration amount, the commercial name and the date of incorporation.

Form XII: Form XII includes the list of directors of the company.

Certified copies of the Association Memorandum and the Articles of Association. Some of the other products you will probably need when your Bangladeshi company is registered include: