What is the best Law Firm in Dhaka?
Guided by Barrister Hafiz khan and Tahmidur Rahman, Counsels Law Partners is regarded as one of the best law firms in Bangladesh. This law firm in Dhaka boasts a commendable 12 departments with more than 30 lawyers situated across three major cities in Bangladesh.
Who is the best lawyer in Dhaka?
It's hard to pin down the single best legal mind in Bangladesh. But Counsels Law Partners certainly boast one of the best legal minds in Bangladesh.
Is it necessary to register a partnership in Bangladesh?
A partnership business is not necessary to register but it is still advisable to register a partnership business as per section 69 of the Partnership Act, 1932.
How to file annual returns in Bangladesh?
Registered entities shall file returns in specified formats and schedules, and RJSC shall, upon satisfaction, authorize and preserve such documents. There are two (2) types of returns, i.e. Annual returns' and 'Returns for any change in the organization'
How to apply for a certified copy of record for a company?
Anyone may apply for a certified copy of an entity's record(s). In response to any such request and upon receipt of the appropriate payment, RJSC issues a certified copy of the entity's historical records. However the profit & loss account is available only to registered employees of the company concerned.
How to get name clearance in Bangladesh?
This is a condition for the registration of a new company (other than a foreign company and a partnership) or a company or a trade association. Promoters of a new entity (company, company, or trade organization) apply, and RJSC issues a name clearance for one of the proposed names to the satisfaction that it does not closely fit or imitate any of the names that have already been designated (registered, booked or under the process of registration of the same entity type)
How to do Liquidation or winding up of a company?
A business having agreed or made an order or a Memorandum & Articles of Association shall provide for the winding-up of the company, send to RJSC information on the winding-up and dissolution of the proceedings. For more: https://tahmidurrahman.com/liquidation-or-winding-up-a-company-in-bangladesh/
How strike-off works in Bangladesh?
RJSC strikes off the Register a company’s name if it is not in operation any more
How to submit application to RJSC?
RJSC Computerized Platform allows online submission of applications/returns (through internet). If the RJSC client does not have access to the Internet (web), the RJSC client can send applications/returns in the following two (2) ways: Using the RJSC kiosk facility (also called 'Online Submission') or Manual submission to the RJSC counter
How to register a Private Limited Company in Bangladesh?
Step by step process for a private limited company registration in Bangladesh: 1. Memorandum & Articles of Association, original plus 2 copies 2. Statement of Registration of Company 3. Address of the registered office and any modifications therein 4. Consent to act by the Director 5. List of individuals who agree to be directors 6. The particulars of the Directors, Managers and Managing Agents and any modifications therein 7. Evidence of the clearance of name. 8. Special Adhesive Stamps and Treasury Challenge from the Bank of Bangladesh to the Treasury (photocopy)
How to register a Public Limited Company in Bangladesh?
Step by step process for a public limited company registration in Bangladesh: 1. Memorandum & Articles of Association, original + 2 copies 2. Declaration on Registration of Company 3. Address of Registered Office and of any change therein 4. Consents of Directors to Act 5. List of Persons Consenting to be Directors 6. Particulars of the Directors, Manager and Managing Agents and of any Change therein 7. Declaration before Commencing Business in case of Company Filing Statement in lieu of Prospectus 8. Agreement to Take Qualification Shares in Proposed Company (if necessary) 9. Evidence of Name Clearance 10. Special Adhesive Stamps and Treasury Challan from Bangladesh Bank to Treasury (photocopy) of Collecting the Stamps
How to register a foreign company in Bangladesh?
Step by step process for a foreign company registration in Bangladesh: 1. The Charter or the Statutes or the Memorandum and the Articles of the Company or some other document constituting or establishing the Constitution of the Company. 2. Address of the registered or principal of the trust of the Company. 3. List of directors and directors 4. Return of Approved Persons to Accept Service 5. Note of the situation of the principal place of business in Bangladesh or any improvement therein 6. Certificate of Encashment obtained from any Scheduled Bank. 7. Permission from the Investment Board of Bangladesh.
What is the process of registration as a trade organisation in Bangladesh?
1. Memorandum and Articles of Association, original plus 2 copies. 2. Statement of Registration of Company 3. Address of the registered office and any modifications therein 4. Consent to act by the Director 5. List of individuals who agree to be directors 6. The particulars of the Directors, Managers and Managing Agents and any modifications therein 7. License of Government (Trade License from the Ministry of Commerce). 8. Evidence of the clearance of name. 9. Special adhesive stamps and Treasury Challenge from the Bank of Bangladesh to the Treasury (photocopy) of Set of stamps.
Can I own property in Bangladesh as a foreigner?
The main laws regulating the ownership of movable and immovable property, namely the Transfer of Property Act 1882 and the Registration Act 1908, do not include provisions banning the ownership of property by foreign persons. Articles 13 and 42 of the Constitution of the People's Republic of Bangladesh, which specify the "principles of ownership" and the "rights to property" respectively, state that all citizens of Bangladesh have the "right to acquire, hold, transfer or otherwise dispose of property." However the Constitution does not provide for any clause that expressly forbids a foreigner from owning land or any other property in Bangladesh.
How to register a Land in Bangladesh?
Land registration is compulsory under Section 17 of the Registration Act 1908. The transfer instrument, unless it is a will, must be sent to the registration process within the next three months of its implementation. The place of presentation of the document for registration shall be in the office of the Sub-Registrar within whose sub-district the entire or most part of the property is situated. The presentation should be made by the person who executes the document, the person who argues under him or the representative of the person who executes the document.
How to check whether my land is registered on Bangladesh or not?
The first step of testing whether or not your land is registered is to find a land schedule that includes information such as the corresponding district, Upazila, Mouza, Khatian, Dag No., etc. Then one must go to the sub-registry office which has territorial authority over the land and submit a search report to find out whether or not there is a registered document relating to that land. One can also go to the Office of the Assistant Commissioners to see if any papers have been sent there for carrying out a land mutation. This is relevant because the mutation process involves all the paperwork relating to the land and will therefore provide a definitive response as to whether or not the land has been registered.
How to find the ownership of a property in Bangladesh?
The two most basic ways to gain possession of land in Bangladesh are done in the following two ways – firstly, by means of a registered instrument (by way of sale, will and donation, among others and, secondly, by way of inheritance. As far as ownership by registered documents is concerned, records about who owns the property can be found in the relevant sub-registry office, since the name of the owner is to be registered there. However in the event of ownership by way of inheritance, the name of the owner might not be present, but the names of his ancestors should be mentioned in detail.
What is Khaitan of Land?
In essence, Khatian translates to the "Record of Rights." They are prepared by means of land surveys to assess the possession and ownership of the land. Every Upazilla is divided into a number of plots called Mouza. Khatians are then prepared to split more plots out of the Mouza to allow a more accurate evaluation of who owns the plot.
Is it possible to receive international venture capital funding to launch a business in Bangladesh?
IFC and IDLC funding helped Chaldaal, a food e-commerce firm, raise US$ 5.5 million. This is a positive indicator since if the business thrives, additional financial institutions may be willing to invest in it. Sindabad, a B2B e-commerce, received US$ 4.2 million from Aavishkaar, an Indian Impact Fund. Handy Mama, C-work, Gaze, and Beatles are among the four start-ups that BD Venture has invested in. They joined other Angel Investors in a second round investment in Esoshikhi, an educational technology. The government has set aside Tk 1 billion in the budget for new business ventures. However, the specifics of how that cash will be used have yet to be determined. The cabinet recently approved the ICT Ministry's initiative to establish a venture capital business.
Can I take loan from foreign bank in Bangladesh?
A company can obtain a soft loan in one of two ways: automatically or through the government: The automatic method allows a borrower to get a loan from a foreign firm without first obtaining clearance from Bangladesh's Central Bank. The loan arrangement must, however, be recorded with the BIDA in this case.
How to determine the existing indebtedness structure and creditworthiness of the borrowing company?
(a) CIB report: A CIB report will be needed for all proposals to be processed. The CIB report will be collected by BOI from Bangladesh Bank. (a) Bank certificate: Existing indebtedness structure and creditworthiness of the sponsors involved, duly confirmed by their bankers, will be required for foreign borrowing permission. The chosen bank will submit to BOI the required inquiry papers as well as an undertaking from the borrowing company's Sponsor Directors.
What are the funding programs for Bangladeshi Entrepreneurs?
Robi, a mobile telecom business, has overhauled its Accelerator program. They broadened the scope by allowing applications from anybody in Robi payroll. They expanded its coverage to include all of Bangladesh. They got almost 2200 applications, of which 56 were chosen for pitching. Finally, eight funds and incubation facilities were given. These programs were aired on television in order to raise awareness and encourage people about the notion of entrepreneurship. Grameenphone has renamed its Accelerator program GP Accelerator 2.0, which is divided into two parts: Pre-Accelerator and Accelerator. Pre-Accelerator is an 8-week program that provides training and coaching to assist verify their concept and get it to market. The accelerator is a 4.5-month program for teams with a Minimum Viable Product (MVP).
How to determine the Quality & Commercial viability of the project for Foreign Loan?
The following financial analyses are necessary to verify the quality/commercial viability of the project feasibility study; a) The project's internal rate of return (IRR) b) The payback period c) The break-even point at what capacity and what time of year d) A sensitivity analysis in terms of IRR d) Ratio of Debt Service Coverage (DSCR)
What are the challenges regarding overseas financing in Bangladesh?
Globally, governments that backed startups saw an increase in their GDP. In the fourth industrial revolution period, creativity and technology assistance are critical for competing in global marketplaces. As a result, startups should be at the top of everyone's priority list. It is a priority for our government, but it should be represented at all levels of policy making. Our entrepreneurs have difficulties in obtaining trade licenses, intellectual property rights, and other business licenses and permissions. Foreign investors are hesitant to invest in a company that lacks all necessary legal documentation. Foreign investors are likewise unconvinced about the ease with which they might abandon their investments. Regional centers such as Singapore and China have vast amounts of money to invest, yet we are unable to entice them to engage in our enterprises.
Can an individual from Bangladesh take loan in foreign currency?
Provided, however, that for sufficient reasons, the Central Bank may permit a person resident in Bangladesh to borrow or lend in foreign exchange from or to a person resident in or outside Bangladesh, and/or permit a person resident in Bangladesh to borrow or lend in BDT from or to a person resident outside Bangladesh.
Can a foreign director give loan to Bangladeshi company?
Yes, it is permitted. But bear in mind, a company cannot lend to a director without paying taxes, while a director can lend to a company.
How do I record a loan repayment?
When your company records a loan payment, you debit the loan account to remove the liability from your books and credit the cash account. Repayments on an amortized loan are made over time to meet interest expenditures and principle reduction.
What are the 3 classification of loans in Bangladesh?
A loan is a sum of money borrowed from a lender by an individual or a business. It is divided into three types: unsecured and secured loans, conventional loans, and open-end and closed-end loans. Before any money crosses hands, the beneficiary and the lender must agree on the conditions of the loan. In some situations, the lender may compel the borrower to put up an asset as collateral, which will be specified in the loan agreement. Individuals, businesses, and governments can all get loans. The major reason for taking one out is to obtain funds to increase one's total money supply. The lender earns money by charging interest and fees.