At present, Bangladesh is one of the most emerging economic tiger of the Asian countries for lucrative business into the world, so enthusiastic foreign investors are coming here to invest on different kinds of business sector of Bangladesh. Basically foreign entrepreneurs can do Joint Venture Company or 100% Foreign Company Registration in Bangladesh. Joint Venture Company means there foreign entrepreneurs and local entrepreneurs both jointly operating the business and paid up his/her equity investment of the company.
Potential Business Sectors in Bangladesh:
There are huge lucrative businesses are laying here on for investing business capital and to earn profit on the respective business. Now the most of potential business sectors in Bangladesh are private business where local and foreign entrepreneurs are investing their capital for doing trading, manufacturing, exporting, importing business and so on. There leading business sectors are frozen food, potato export, sea food, Handicrafts, readymade garments, jute products, IT sector, shrimp lobster & eel fish, Hotel & rest house, food processing plants, agriculture, leisure hospitality & truism sector. Now, World’s renowned chain company set up Branch Office, Liaison Office or Regional Office in Bangladesh.
Procedure of Foreign and Joint Venture Company Registration in Bangladesh:
Company Incorporation and Company Formation is the same thing of company registration at RJSC (Office of the Registrar of Joint Stock Companies and Firms) in Bangladesh. The first step of company formation is Name Clearance of the company’s proposed name of the company from RJSC, if RJSC approved the name of the company, RJSC will issue a company name clearance certificate then we start next step to make Company’s Memorandum of Association and Articles of Association for company incorporation at RJSC in Bangladesh. Know more about RJSC activities.In general, Company has two types; one is public limited and another private limited company. Private limited company has to at least 2(two) Directors or share holders and highest 50 (Fifty) Directors or shareholders in the company. The privet limited company has three categories, as like local company, foreign company and Joint Venture Company. Foreign company (100% foreign share owned company) where 100 % Directors or shareholders are overseas country’s citizen, joint venture company where Bangladeshi shareholders and foreign shareholders are jointly operating the business and sharing risk, business developments, profit & loss of the company by setting up limited company in/ of registration at RJSC. The local company there cent percent Directors or share holders are Bangladeshi citizen. For preparing foreign company (100% share owned by overseas citizen) Memorandum of Association and Articles of Association needs some information which mentioned on it. A list of information that needed for preparing of private limited (100% share owned by overseas citizen) foreign company or joint venture Company’s Memorandum & Articles of Association.
Flowing information needed for Foreign Company Registration in Bangladesh:
- Apply for Name Clearance of proposed company’s name at RJSC
- Company’s Name clearance certificate which issued by RJSC
- All Shareholders, Directors, Chairman and Managing Director’s Name
- All Shareholders, Directors, Chairman and Managing Director’s Address
- TIN Certificate (Taxpayer’s identification Number) not applicable for overseas citizen
- National ID Card (Voter ID card) for Bangladeshi citizen
- Cell Phone Number of all Shareholders, Directors, Chairman and Managing Director’s
- Email Account of all Shareholders, Directors, Chairman and Managing Director’s
- To be mentioned number of shares of each Shareholder, Director, Chairman and Managing Director’s
- To be mentioned qualifying share of company Directors
- To be mentioned who are the Shareholder, Director, Chairman and Managing Director of the company
- To be mentioned Company’s Paid up capital and Authorized capital
- Passport Number (mandatory for overseas citizen) alternative of Bangladeshi citizen without National ID Card
- Assure foreign equity investment of overseas Directors
- Joint venture agreement of Joint Venture Company ( If Joint Venture Company)
After making Memorandum & Articles of Association of the company to pay Govt. fees and submit Memorandum & Articles of Association to the RJSC in Bangladesh. The RJSC scrutinized all the (submitted papers) documents by following company act.1994 and issues incorporation certificate of the company. The RJSC is the only legal authority of company registration, company return filling, Company Share Transfer, Share Allotment and other activities. At present, Bangladesh government cordially encourage to national, multinational, foreign and local enthusiastic entrepreneurs to invest their investment on country’s lucrative business sector for growing handsome benefit all the way. Representative Office/ Branch Office has to deposit of USD 50,000 of company’s account or equivalent like estimated primary development cost and business running cost must be coming from foreign country to Bangladesh. Branch office has no legal right to involve any kinds of profitable business activities.
After receiving Company incorporation certification we collect company’s Trade License to start company business for small scale. For opening import and export business at first we need to collect Export Registration Certificate and Import Registration Certificate of starting international business with foreign countries. VAT Registration Certificate and TIN Certificate are most useful documents for local & international business and some particular business required of respective ministry permission of the Government.