Partnership business is one of the renowned business platforms in Bangladesh. Partnership Firm Registration is quite simple process in Bangladesh. There at least 2 (two) and highest 20 (Twenty) entrepreneurs can open this particular business. Partnership business is called Partnership Firm in the country. A partnership Firm is established under the provision of the Partnership Act. 1932. Partnership business registration authority is RJSC (The Registrar of Joint Stock Companies and Firms) Limited company registration also doing here.
Two and more entrepreneurs are joining together and creating a business platform that’s a partnership firm. All partners unanimously creating a business agreement there indicates partner’s sharing profit, business operation, business fields and many more. Minor (bellow 18 years) can be a partner of partnership firm if all partners unanimously agreed.
At present, partnership firm must be registered at RJSC otherwise Company’s bank account couldn’t be opened at any schedule bank in Bangladesh.
Partnership Agreement:
Partnership Agreement is very much known as Partnership Deed. Every partnership business has to partnership deed for operating the business activities. Must be needed Taka 2,000/= non judicial stamp for write down the partnership deed there indicates business activities and terms & conditions.
- Name of the Partnership Firm
- Farm’s Business Address & Commercial Address
- Kinds of Business
- Partnership Firm’s Duration of activities
- Profit & Sharing percentage of each partner
- Portion of capital contribution of each partner
- Retirement Terms of the Firm
- Management body of firm’s
- Partnership Dissolution terms
- Borrowing percentage of Interest
- Partner’s details as like Name, Permanent Address, Present Address
Partnership Firm Registration Steps in Bangladesh
The RJSC authority is the only legal entity to register Partnership Firm in Bangladesh. Few information essential for Partnership Firm Registration:
- Partnership Firm Name Clearance Certificate
- the Partnership Firm Duration
- Firm’s registered address
- Partner’s joining date
- Business Particulars of the Firm’s
- Establishment date of the Partnership Firm
- Partner’s Particulars of the firm
- Partnership Firm Application must be submitted on the prescribed Form- I
Benefits of Partnership Business:
More entrepreneurs joining together for setting up a partnership firm that’s why large capital accumulated here of operating medium or big business. Some partners have exceptional knowledge which will be strength for business capability of competitive market in the global village.
Partnership firm set up and registration is more flexible than Limited Company Registration in Bangladesh. Partnership firm’s operating rules and regulations are not strong as limited company operation. Basically, profit of partnership business distributed by following the partnership agreement. Different type of experts operating the partnership firm for this reason increasing business and profit capability from others kinds of business.
After receiving Partnership Firm registration certificate, we commence the partnership business and take some documents / certificate such as Trade License, TIN Certificate, VAT Registration Certificate for essential every kinds of business. If you want to start international business to other countries, must be needed Export Registration Certificate and Import Registration Certificate for Export & Import Business to foreign countries. Some kinds of business needs respective authorities permission such as manufacturing industry required BOI permission, Fire license, No objection certificate and so on.
