Header Ads

Doing business in Bangladesh : Guide

Formal registration of companies has many immediate benefits for the companies and for business owners and employees. Legal entities can outlive their founders. Resources are pooled as several shareholders join forces to start a company. Formally registered companies have access to services and institutions from courts to banks as well as to new markets. And their employees can benefit from protections provided by the law. An additional benefit comes with limited liability companies. These limit the financial liability of company owners to their investments, so personal assets of the owners are not put at risk. Where governments make registration easy, more entrepreneurs start businesses in the formal sector, creating more good jobs and generating more revenue for the government.

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Bangladesh. It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income.This information was collected from World Bank: Doing Business 
No.ProcedureTime to CompleteAssociated Costs
1Verify online the uniqueness of the proposed company name with the Registrar of Joint Stock Companies and Firms1 dayBDT 100
2Pay adhesive stamp fees at a designated bank1 dayBDT 2000
3File documents with the Registrar of Joint Stock Companies and Firms for registration1 dayBDT 2925 registration fees + 1200 registration filing fees
4Make a company seal1 dayBDT 30-50
5Register with the tax authority9 daysno charge
* 6Register for VAT7 days, simultaneously with procedure 5no charge
7Obtain a trade license6 daysBDT 5,000
* Takes place simultaneously with another procedure.
Powered by Blogger.