Rules and guideline for an organization enlistment in Bangladesh are diverse for every nearby business people and unfamiliar business visionaries. To enlist an organization in Bangladesh, for unfamiliar business visionaries is truly troublesome. Unfamiliar business people are dealt with contrastingly in regard of charges, government official extra costs, time and conduct. Unfamiliar financial specialists don’t get same treatment as neighborhood speculators. To get the licenses or pass the archives to begin a business in Bangladesh you should confront counterfeit multifaceted nature from the finish of government officials, staffs and so forth Nonetheless, it isn’t difficult to get your organization enlisted in Bangladesh.
There are essentially two sorts of organization enrollment in Bangladesh
- Private restricted Company (Limited by offers or Limited by ensure)
- Public restricted organization (Limited by offers or Limited by ensure)
In any case, while thinking about the enlistment of another organization or migration of your current organization to Bangladesh, it is critical to take note of that most organizations in Bangladesh are enrolled as private restricted risk organizations (private restricted organizations). A private restricted organization is a different legitimate substance and investors are not obligated for the organization’s obligations past the measure of commitments share capital of the organization. As per the Companies Act 1994 of Bangladesh, any individual (unfamiliar or neighborhood) over the age of 18 can enroll an organization in Bangladesh.
Private Limited Liability Company enrollment in Bangladesh
- A Private Limited Company in Bangladesh requires at least two chiefs.
- According to the Companies Act, 1994 of Bangladesh Statutory gathering and report are not pertinent to Private Limited Company.
- Retirement arrangements are not appropriate for Private Limited Companies.
- It is additionally not needed to do legal filings in lieu of outline.
- There is no limitation for apportioning of offers.
- Endorsement of initiation of business isn’t needed to get in the event of secretly restricted organization enlistment in Bangladesh.
- Accommodation of records to individuals is likewise not needed.
- Retirement and turn of chiefs are not necessary for the Private Limited Company in Bangladesh.
- Private Limited Company in Bangladesh is precluded to give a solicitation to people, in general to buy in for offers or debentures
- The quantity of individuals is restricted up to 50 barring people who are representatives of the organization
Checklist for Company registration in Bangladesh?
The absolute initial step for an organization enrollment to begin a business in Bangladesh is the name freedom (endorsement) by The Registrar of Joint-stock Companies and Firms (RJSC).
You have to choose a name for the proposed organization and submit it to RJSC with recommended charge. After name freedom from RJSC, you have required drafting Memorandum of Association and Article of Association and depicts a wide range of business and exercises which the organization will work and offers dissemination of each Director and investors in the Memorandum of Association. All investors, chief, overseeing chief, Chairman will sign the Memorandum for their proposed share.
The approved capital of the organization is referenced in the Memorandum of Association and Articles of Association. Approved capital is the greatest measure of offer capital that the organization is approved to issue (dispense) to investors. There is no base or most extreme cutoff for approved capital in Bangladesh.
Least settled up capital for enlistment of an organization in Bangladesh is Taka 1. It tends to be expanded any time after the joining of the organization.
To enlist an organization in Bangladesh, you are needed to give a residential area the enrolled address of the organization. It must be an actual location (can be either a private or business address) and can’t be a P.O. Box.
Chiefs and Shareholders:
A private restricted organization in Bangladesh will have least two chiefs and at least 2 and limit of 50 shareholders.A chief and investor can be the equivalent or an alternate individual. The investor can be an individual or another lawful entity.Directors can be either neighborhood or unfamiliar. He should be at any rate 18 years old and must not be bankrupt or indicted for any negligence before. The chief will claim capability shares expressed in the Articles of Association.
Technique for organization enrollment in Bangladesh?
Organization enrollment in Bangladesh is partitioned into three stages.
- Name Clearance;
- Ledger opening and getting the settled up capital; and
- Organization Registration.
Stage 2 is just relevant if there is any unfamiliar investor in the proposed organization.
Stage 1: NAME CLEARANCE
The absolute initial step to fuse an organization in Bangladesh is to acquire a name freedom for the proposed organization name. The application for name leeway is recorded on the web. Subsequent to documenting the application for name freedom, you will get a bank installment slip and you should pay Taka 600 to the assigned bank. When the installment is done, you can sign in to your record on the RJSC site and you will get the name leeway.
While petitioning for the name application, ensure the name is as per the naming rules as endorsed in Bangladesh.
The name endorsed will be held for a time of a half year from the date of freedom. You can broaden the time span of the name by recording an augmentation demand not long before the expiry date.
Stage 2: BANK ACCOUNT AND PAID-UP CAPITAL
In the event that the investor in the proposed organization is from an unfamiliar nation you should open a ledger in the proposed organization name with any planned bank in Bangladesh. In the wake of opening the record, cash equivalent to the offers to be claimed by the unfamiliar investor must be dispatched from outside Bangladesh in the ledger. An Encashment Certificate is given by the Bank which will be needed by RJSC for consolidation.
Stage 3: COMPANY REGISTRATION
The last advance to enlist the organization is to present all the necessary data in the RJSC’s site. Structure IX and Subscriber Page of the MOA and AOA is additionally needed to be transfer alongside all the necessary data. In the wake of transferring the structure, endorsers page an all the information’s, you will get a bank installment slip for paying the enrollment expenses alongside stamp obligation.
Whenever you are finished with the installment in the bank, RJSC authorities will check & confirm the reports and data. On being happy with the application recorded, RJSC authorities will give the carefully marked reports:
These reports will be sent to your email address related with your RJSC account.
- The declaration of Incorporation will have the enlistment number, the name of the organization and the date of fuse.
- Structure XII contains the rundown of heads of the organization consolidated.
- After joining, when you a business space you have to apply for Trade License and Tax Identification Number. Contingent upon your organization’s business exercises, you may need to get more permits to operate.
- Your organization needs to hold, an Annual General Meeting each scheduled year. The AGM will be directed inside year and a half from the date of joining of the company. From the ensuing years, not over 15 months will slip by between one AGM and the following.