Understand the Jurisdictions Setup Requirement Before Proceed Your Bangladesh Company Registration
For a Bangladesh company registration, the process is the same for foreigner and local investors. However, the rule assessment is different, and there are some restrictions for foreign investors. All this used to be confusing; especially before some years but not now. Well, 3E Accounting from this year will be providing company registration services in Bangladesh. This means 3E Accounting will now register your business in Bangladesh, with you only having to know about some basics and giving us a call.
Types of Business in Bangladesh
Among the various types of businesses in Bangladesh, foreigners have three choices.
- Liaison Office
- Branch Office
- And A Private Limited Company
Among these three, most of the investors are interested in the private limited company, as it is more oriented towards an independent business. However, you will need to know about all these companies before you move on to registering your company in Bangladesh.
Liaison Office, as its name suggests is for administrative work only. This is a type of company which can’t do any business. Or, more specifically let us say can’t make any profit. The main reason for the establishment for Liasion office is for investors to study the market before fully starting a business. It is for the business houses to communicate with customers beforehand and create brand awareness before going all out. So, let us say that a liaison office is for research purposes and market analysis.
A branch office is just an office which represents another office. It doesn’t remain as a separate legal entity itself, but anyway, unlike the liaison office, can do business. You need prior permission from the Bangladesh Investment Development Authority (BIDA) before opening a branch office in Bangladesh. And, what you can and can’t do depend on the type of business and of course, BIDA decides it.
Private Limited Company
This is the most preferred type of business entity in Bangladesh. A private limited company exists as a separate legal entity.
Directors: You will need at least two directors and they can be of any nationality. Bear in mind, however, that they must be above 18 years old and cannot be bankrupt. They will also need to have a clean police record.
Shareholders: You can have anywhere between two (2) and fifty (50) shareholders. They can also be the directors of the company, it doesn’t matter and 100% foreign shareholding is allowed in most fields.
Registered Address: You will also need a registered address in Bangladesh. Keep on mind that it is supposed to be a physical address and can’t be a P.O. ox number.
Minimum Paid-Up Capital: There is no paid-up capital. However, the Bangladeshi rule says it is 1 Taka.
Looking forward to opening a business in Bangladesh? Want help? Well, at 3E accounting we take yours through all the process of Bangladesh company registration. All you need to do is contact us, and then we will complete your Bangladesh company registration in little to no time and cost.