Company Registration in Bangladesh
Due to rapidly expanding business in Bangladesh, now a company registration procedure in Bangladesh is a widely asking question to a new entrepreneur. RJSC (The Registrar of Joint Stock Companies and Firms) is the solitary authority for Company Registration in Bangladesh.
In a recent study fast growing business of Bangladesh are ICT and IT based business, Agrobased food and food industry, Export and Import business, fast Food Outlet, Restaurants, Travels and Tours and many more.
Mainly three types of business structure are continuing in Bangladesh. These are Limited Company, Partnership Firm and Sole Proprietorship. Limited Companies are two types one is Privet Limited Company and another is Public Limited Company. RJSC also register foreign company and Branch Office, Liaison Office, Representative Office of Multinational Company. Joint Venture Companies are also register at RJSC (to know more about RJSC).
To form Privet Limited Company minimum two and maximum fifty directors required. On the other hand, for Public Limited Company minimum member should be seven and maximum is unlimited. For forming a Joint Venture Company minimum member should be two and maximum fifty. Out of all members minimum one should be Bangladeshi and minimum one should be Foreigner. In Bangladesh no scope to start a Limited Company by one man.
Steps of Company Registration in Bangladesh:
1st step is Apply for Name Clearance to RJSC.
2nd step is if the Name Clearance of proposed name has approved then prepare Memorandum of Association ( MoA) and Articles of Association (AoA). MoA contains the nature of the business which promoter intends to start. And AoA contains legal rules a regulation of business.
3rd step is online submission of prepared MoA, AoA and duly signed scan copy to RJSC.
4th step to pay stipulated fees by the schedule commercial bank.
After review the all above matters, RJSC authority upon their satisfaction they are approved the matters and issue Incorporation Certificate with a Registration Number of proposed Company along with digitally signed Memorandum of Association and Articles of Association and Form-XII. Now it is complete the Company Registration in Bangladesh.
After company registration more tasks should be done to operate business. First of all need a Trade License for the company name and it collect from nearby license providing authority (In case City Corporation area City Corporation Authority issue the Trade License or for rural area Union Council authority issue the Trade License).
Getting Trade License an e-TIN certificate is needs for the newly registered company. E-TIN should be collect from National Board of Revenue (NBR).
Now you have to open a Bank Account for the company name. A Board Resolution requires company bank account.
If you want to go for Export Business you have need Export Registration Certificate (ERC) or if you want to do Import Business then you have need Import Registration Certificate (IRC). If you can start Indenting Business then you have need Indenting Registration Certificate. All of ERC, IRC & Indenting Certificate issue by Office of the Chief Controller of Imports and Exports.
At present VAT Registration certificate needed for the most of the business in Bangladesh. For starting special type of business you have need prior permission from respective authority.
For being a proud Chairman, Managing Director or Director you have need register a Company in Bangladesh and you should follow step by step procedure for Company Registration in Bangladesh. To BRAND YOURSELF & BRAND YOUR BUSINESS start a Open a LIMITED COMPANY IN BANGLADESH.