Wholly foreign own share holding company registration process in Bangladesh
Required documents are:
a. Promoters board meeting decisions should preserve for future
b. Certificate of Incorporation provider of RJSC
c. Memorandum of Association - MOA, provider by RJSC
d. Article of Association - AOA provider registered copy by RJSC
e. Joint Venture Agreement (if any), when business shall be started between parties
f. Rent/ lease deed is required to open bank account and other purpose
g. Project Profile, another document, require for manufacture / industry setup
h. Personal information, contact detail of the entrepreneurs
i. Purchased machines, equipment, cost and number of them should print in letter head to submit in different bodies of government and non government
j. Government fees/ non government fees should pay through bank draft/ cheque
Other:
1. Approval copy of factory/ warehouse from concern department and approve plan copy too
2. Manage bonded Warehouse permission from concern department providing require papers and government fees
Industrial Registration Application
Board of Investment is authorized body to register a industry/ BOSTRO ODHIDOPTAR, require papers are shared below:
a. All above papers those are given
b. Other papers such as export and import license
c. Work permit in case of living and / staying in Bangladesh and investor visa from Board of Investment (BOI), applying with require papers.
Joint Venture Company Registration in Bangladesh
• All above papers with some other documents as below
• Encashment Certificate against Paid Up Capital (Encashment shall be issued by schedule bank of Bangladesh)
• Passport copy
• Address in Bangladesh & Contact detail
• PI Visa (For investors) & EI Visa (For foreign employee) from BOI
• USD 50,000 has to deposit in terms of PI & EI Visa & inward remittance, Office expenses & so on as government rules.
Branch Office open in Bangladesh, Liaison Office open in Bangladesh
The following papers and / or permissions are required to open/ register branch office:
1. Apply with prescribed forms where provide business name, contact number, address of parent company;
2. Field of business mean area of business that want to do in Bangladesh shall have to be shared them;
3. Main business of parent company should mention in form;
4. Expected time of starting a business in Bangladesh shall have to be cleared;
5. How longer permission is applied for shall have to be written;
6. Organogram of enterprise man power structure in Bangladesh;;
7. Primary expected expenses and source of fund availability shall have to be cleared;
8. Incorporation certificate and directors board meeting minutes of parent company;
9. Lawyer/ consultant appointment letter and agreement copy;
10. Memorandum and Articles of Association of the principal company, duly executed, notarized and authenticated by the High Commission/Embassy of Bangladesh in the country of origin
11. USD 50,000 has to deposit in bank initially as rules of government of Bangladesh for inward remittance, Work Permit, Office expenses & so on.
Except some other documents all documents those discussed above have to forward to Bangladesh bank to get clearance from there;
Note: Some documents should notarized from embassy where parent company is located .
What are the conditions given from BOI (normally) in case of opening branch office in Bangladesh BUT it varies upon activities & types of company?
• Foreign exchange regulation of state have to follow accordingly;
• All expenses as above discussion, have to be adjusted by the parent company that fund shall be remitted to company account of Bangladesh;
• No money shall be allowed to transferred from Bangladesh to outside
• Quarterly expenses report have to be shown to some bodies of government;
• Security confirmation should be cleared and getting them have to get consent from some government organs;
• US$ 50 thousand have to be ensured within 60 days of starting branch office in Bangladesh, in case of failure penalty shall be applied;
Foreign Investment in Bangladesh
Bangladesh wish welcoming the foreign investors to start trading in all sectors except (i.e. (1) arms and defense particulars, (2) forest plantation which may harm of environment, (3) production of relating of nuclear weapon, and (4) mining ) . BOI, BEPZA, other export processing zone of Bangladesh facilitate tax free upon conditions as foreign direct investment (FDI).
Tax-holiday in Bangladesh
Tax holiday facilities are available on certain goods and those business are located inside of export processing zone, for 5 to 7 years upon conditions.
Tax exemption
Foreign employees may skip paying tax for 3 years and specially those are called technician.
Facilities/Incentives of Foreign Investment and income tax of foreign investors in Bangladesh
Tax incentives can be applicable on conditions and some goods. Foreign employees may have tax incentives. Government is more attentive to develop in sectors those attract foreign investors and solve those make problem to encourage of foreign entrepreneurs. Normally foreign tax rate is 37 to 47 percent.
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