How to Register a Foreign Company in Bangladesh
In South Asia, Bangladesh is one of the countries that is growing the fastest and is one of the main focuses of investor interest at the moment. Investors with an interest in Bangladesh and the rest of the world understand the Bangladesh Market and offer tours and incredible benefits like Bangladesh Abroad. They also offer other benefits like Banking Inward Remittance, favourable locations, and the interests Bangladesh offers. Enforce Bank I also receive a company tax combo, a non-income tax. There is an absence of Branch business, which ranges from other parts of Bangladesh. By doing so, and also balancing the positive benefits provided in their user information, I also understand the rest of foreign Countries. In Bangladesh, I also understand the benefits provided by the tax, commission, and the rest of the other in-country.
What is a Foreign company in Bangladesh?
As per the Bangladesh Companies Act of 1994, any foreign company in Bangladesh would require an office/business establishment within the country to conduct business, and such a company is required to register with Bangladesh with the Registrar of Joint Stock Companies and Firms (RJSC).
Bangladesh Registration for Foreign Companies in a Nutshell
Step 1: Name Clearance from RJSC
The company name RCJSC seeks must not be identical or already in use.
Step 2: Document Preparation and Legalisation
The Memorandum and Articles of Association must be drafted by the applicable due dates. The parent company’s certificate of incorporation should accompany it, too. The company’s board must pass a directive on register approval for Bangladeshi operations. The document must be sanctioned by the Bangladesh High Commission or the Embassy of the parent company. The company must declare the shareholders, directors, and representatives.
Step 3: RJSC Submission
The application, as well as the notarised documents and the dues, is remitted to the RCJSC for a government resolution.
step 4: Compliance Customs
The TIN must be obtained from Bangladeshi’s Board of Revenue. The company must also register for VAT in Bangladesh, if applicable. The trade license must also be obtained from the City Corporation. The VAT registration if applicable and Bangladeshi’s Bank TIN Register is also prominent to succession in Bangladesh. The RJSC must also be in the possession of a board of taxation.
Step 5: Starting Operations
- Bangladesh now chairs new companies to open up and formally start new business operations.
- Regulatory requirements specific to foreign companies operating in Bangladesh:
- Submit annual reports and financial checks to the RJSC.
- Accurate transcription and storage of financial and tax documentation.
- Track and submit relevant documentation of changes to the internal structure of the company.
- Active trade license and VAT certificate - reports due changes in VAT Certification.
- Benefits of Bangladesh Foreign Company Registration:
- Entitled to Foreign company sponsorship.
- Entails entry to an expanding 170 million population market.
- Advantageously positioned as a trade link between South and Southeast Asia.
- Access to a maintained, low-cost, and skilled workforce.
- Export-driven companies, especially IT, enjoy tax holidays.
FAQ-Bangladesh Foreign Company Registration
What is a foreign-registered Company?
A foreign registered company is a business incorporated in a foreign land and has been approved to conduct business in Bangladesh by the RJSC. Operatively, it may be provided as a Liaison Office, Branch Office, or Subsidiary Company.
What is the best law firm to assist in the business registration process in Bangladesh?
The Justice Corner is The best law firm for foreign company registration is one experienced in corporate, investment, and business law, with expertise in RJSC filings and compliance. The Justice Corner is a leading choice, offering complete support for company formation in Bangladesh and foreign investment services.
What is the most common type of foreign company in Bangladesh?
The most common type of foreign company is a Subsidiary Company, as it is considered a separate legal entity, offers operational flexibility, and provides better tax benefits compared to a Liaison or Branch Office.
Final Thoughts
The process of foreign company registration in Bangladesh involves multiple steps, from name clearance and documentation to RJSC approval and regulatory compliance. While it may seem complex, the right legal support ensures smooth and timely registration. For investors planning to expand, Bangladesh offers an excellent opportunity to grow in one of the most promising emerging markets.
To register your foreign company efficiently, consult with The Justice Corner, one of the top corporate law firms in Bangladesh, trusted by foreign investors for reliable legal and business solutions.