Stress-Free Business Formation Services in Bangladesh by TRW Law Firm
Starting a business in Bangladesh has never been easier with the comprehensive support provided by TRW Law Firm, the leading legal partner for company incorporation services. Whether you’re a local entrepreneur, a foreign investor, or an established business planning to expand into Bangladesh, our end-to-end solutions ensure a smooth incorporation process tailored to meet your unique needs. From legal compliance to operational readiness, we guide you every step of the way, leveraging our extensive experience and robust network.
Understanding the Business Landscape in Bangladesh
Bangladesh is one of the fastest-growing economies in South Asia, offering numerous opportunities for entrepreneurs and investors. Key factors that make Bangladesh an attractive destination for business formation include:
- Strategic Location: Positioned at the crossroads of South and Southeast Asia, providing access to vital trade routes.
- Pro-Business Policies: FDI-friendly regulations, tax incentives, and economic zones tailored for global businesses.
- Cost-Effective Operations: Availability of a skilled, youthful workforce at competitive rates.
- Robust Growth Potential: Emerging industries such as textiles, ICT, renewable energy, and manufacturing.
Types of Business Entities in Bangladesh
Under the Companies Act, 1994, businesses can be structured in various ways, each offering unique benefits depending on the nature and scale of operations.
| Type of Company | Minimum Shareholders | Minimum Directors | Key Features |
|---|---|---|---|
| Private Limited Company | 2 | 2 | Limited liability, no public share offerings. |
| Public Limited Company | 7 | 3 | Ideal for large-scale operations with public shares. |
| One-Person Company (OPC) | 1 | 1 | Suitable for solo entrepreneurs. |
| Limited by Guarantee | Varies | Varies | Commonly used for non-profit organizations. |
| Unlimited Liability Company | Varies | Varies | Typically for specialized business purposes. |
Comprehensive Business Formation Services by TRW Law Firm
At TRW Law Firm, we offer a full spectrum of company incorporation services that go beyond registration, ensuring your business is set up for success from the start. Our services include:
1. Pre-Incorporation Advisory
- Business Structure Consultation: Determine the most suitable structure based on business goals, industry, and long-term strategy.
- Regulatory Guidance: Understand Bangladesh’s legal requirements and compliance obligations.
- Market Entry Strategy: Tailored advice on navigating the local market, including licensing, permits, and operational planning.
2. Name Clearance
- Process: Secure a unique name through the Registrar of Joint Stock Companies and Firms (RJSC).
- Requirements: Submit proposed company names and pay the requisite fees.
- Timeline: 1–2 working days.
3. Document Drafting and Legal Preparation
- Memorandum and Articles of Association: Comprehensive drafting to define company objectives, share structure, director roles, and board regulations.
- Shareholder Agreements: Drafting and notarization to formalize ownership distribution.
- Director Consent Forms: Preparing and submitting consent documentation for compliance.
4. Bank Account Assistance
- Temporary Bank Account: Facilitate account opening for paid-up capital deposits.
- Encashment Certificates: Required for foreign investors to demonstrate capital remittance.
5. Submission to RJSC
- Digital Submission: Uploading required documents via the RJSC server.
- Physical Submission: Submitting hard copies with non-judicial stamps.
- Timeline: 3–4 working days for approval.
6. Post-Incorporation Compliance
- Trade License Registration: Obtaining licenses from local city corporations for business operations.
- Tax Identification Number (TIN): Registering with the National Board of Revenue (NBR).
- VAT Registration: Ensuring compliance with value-added tax requirements.
- Work Permits for Foreign Employees: Facilitating visa applications and employment passes.
Step-by-Step Guide to Incorporation
Here’s a detailed breakdown of the company registration process in Bangladesh:
Step 1: Name Clearance
- Submit a name clearance request via the RJSC portal.
- Pay nominal fees for verification and approval.
Step 2: Draft Key Documents
- Memorandum of Association (MoA): Define business objectives, share capital, and shareholder details.
- Articles of Association (AoA): Establish governance, board powers, and operational rules.
Step 3: Open a Bank Account
- Deposit paid-up capital in a temporary bank account.
- Obtain an Encashment Certificate for compliance.
Step 4: Submit Documents to RJSC
- Required documents include MoA, AoA, Name Clearance Certificate, and Encashment Certificate.
- Pay applicable registration fees.
Step 5: Obtain Certificates
- Incorporation Certificate: Legal proof of your company’s registration.
- Certified Copies: Digital copies of MoA, AoA, and other corporate documents.
Step 6: Register with BIDA (if applicable)
- Foreign investors in industrial projects must register with the Bangladesh Investment Development Authority (BIDA).
Post-Incorporation Obligations
After incorporation, businesses must meet ongoing compliance requirements:
| Requirement | Description | Timeframe |
|---|---|---|
| Trade License | Obtain from local government authorities. | 3–5 working days. |
| Tax Identification Number | Register electronically through the NBR portal. | Immediate. |
| VAT Registration | Required for eligible businesses to comply with tax laws. | 5–7 working days. |
| Fire Certificate | Mandatory for industrial and manufacturing entities. | 7–10 working days. |
| Environmental Clearance | Required for businesses impacting the environment. | Varies by industry. |
Foreign Investor-Specific Requirements
- Paid-Up Capital: Minimum USD 50,000 recommended for foreign businesses hiring expatriates.
- Director Flexibility: Foreign directors allowed; no requirement for local directors.
- Ownership: Bangladesh permits 100% foreign ownership in most sectors.
- Workforce Ratio: Foreign employee ratio capped at 20:1 (local to expat).
Advantages of Incorporating with TRW Law Firm
1. Tailored Solutions
Our services are designed to cater to businesses of all sizes, from startups to multinational corporations.
2. Expert Legal Team
With years of experience, our team ensures compliance with all legal and regulatory requirements.
3. Cost Transparency
Competitive pricing with no hidden charges ensures maximum value for our clients.
4. Efficient Processes
We expedite incorporation, enabling your business to start operations within 30 working days.
5. Post-Incorporation Support
From licensing to compliance audits, we provide ongoing assistance to ensure your business thrives.
FAQs on Company Incorporation in Bangladesh
1. What is the Cost of Incorporation?
- Starting from USD 1,500, depending on authorized capital and additional services.
2. Can I Incorporate Remotely?
- Yes, TRW facilitates remote incorporation for foreign investors.
3. Are Tax Holidays Available?
- Yes, tax holidays of 5–7 years are available in certain sectors.
4. Is Foreign Ownership Allowed?
- Yes, 100% foreign ownership is permitted across most industries.
Hire TRW for Business Formation Services in Bangladesh
Incorporating a company in Bangladesh has never been more accessible, thanks to the expertise and dedication of TRW Law Firm. From pre-incorporation advisory to post-registration compliance, our comprehensive services ensure that your business is built on a strong foundation. Whether you’re a local entrepreneur or an international investor, trust TRW to simplify the incorporation process and set your business up for success in one of the most promising markets in South Asia.
For personalised assistance, contact TRW Law Firm today and take the first step towards establishing your presence in Bangladesh.
Contact No:
+8801708000660
+8801847220062
+8801708080817
Emails:
info@trfirm.com
info@trwbd.com
info@tahmidur.com
Global Law Firm in Bangladesh.
Locations
Dhaka: House 410, Road 29, Mohakhali DOHS
Dubai: Rolex Building, L-12 Sheikh Zayed Road