An Annual General Meeting (AGM) is a chance for the company's management and shareholders to talk to each other. The Companies Act of 1994 says that every company must hold an annual general meeting to talk about things like the year's results, who will be the auditor, and so on. For the AGM, a company should follow the steps in the Companies Act of 1994.
Companies Required to Hold an AGM
All companies except Proprietorship, should hold an AGM after the end of each financial year. A company must hold its AGM within a period of six months from the end of the financial year.
There are few procedures should be taken in terms of arranging an Annual General Meeting and they are given below,
Timing
Notice
Quorum
Documents
Audit
Question
Registration of copies of special and extra ordinary resolution
However, in the case of a first annual general meeting, the company can hold the AGM in less than nine months from the end of the first financial year. In such cases where the first AGM is already held, there is no need to hold any AGM in the year of incorporation. Do note that the time gap between two annual general meetings should not exceed 15 months.
Procedure to Hold an AGM
With fourteen days' written notice, an annual general meeting can be called. With twenty one days' notice, a special resolution can be called. At least 21 days before the meeting, the Board of Directors must put together a report and send it to every member of the company.
If the report is sent after the time limit set by the law, it will be considered to have been sent properly, and shareholders won't be able to say anything about it. On a valid shareholder's meeting for a special resolution, the notice must have been given at least 21 days before the meeting.
All members of the company including their legal representative of a deceased member and assignee of an insolvent member.
The statutory auditor(s) of the company.
All director(s) of the company.
You can send the notice in writing by speed mail, registered mail, or electronically. The notice should be sent to the member's address, which is listed in the company's records.
In the case of electronic communication, the notice should be sent to the member's e-mail address listed in the company's records. The notice can be written as text in an email or sent as an attachment. Notice of the AGM should be posted on the company's website or any other website that the government may suggest.
If at least 95% of the members who are allowed to vote at the AGM agree, the meeting can be called with less than 21 days' notice. The permission can be given either in writing or electronically.
What is the Agenda of an AGM?
The matters discussed or business transacted in an AGM consists of:
Consideration and adoption of the audited financial statements.
Consideration of the Director’s report and auditor’s report.
Dividend declaration to shareholders.
Appointment of directors to replace the retiring directors.
Appointment of auditors and deciding the auditor’s remuneration.
The ordinary business of the company will be passed by an ordinary resolution where the votes cast in favour are more than the votes cast against the resolution.
However, in case of special business transactions, the resolution may be passed as an ordinary resolution or a special resolution, depending on the applicable legal provisions. A special resolution requires at least 75% votes in favour of the resolution.
An AGM should be conducted during the business hours between 9 a.m. and 6 p.m. only. The meeting can be conducted on any day, which is not a national holiday, including holidays declared by the Central Government. The meeting can be held at any place which is within the limits of the city or town or village in which the registered office is situated.
An unlisted company can hold an AGM at any place in Bangladesh after obtaining consent from its members in writing or in electronic mode. The Board decides the date, time and place of the AGM as per the directions given in a general meeting of the company.
Quorum for an AGM
In the case of a private company, two members present at the meeting shall be the quorum for the AGM. In the case of a public company, the quorum is:
Five members present at the meeting if the number of members is within one thousand.
Fifteen members present at the meeting if the number of members is more than one thousand but within five thousand.
Thirty members present at the meeting if the number of members is more than five thousand.
Hence, A meeting must have a quorum of at least two people, which must be present at the AGM (proxies included). In public companies, there must be at least 5 people there. In case the quorum for the meeting is not present within half an hour from the scheduled time, the meeting will be adjourned to the same day in the following week for the same time and at the same place.
Members’ Rights in an AGM
The members (including shareholders) of the company are entitled to attend and vote at the AGM. Members can cast their votes by a physical ballot or postal ballot or through e-voting. Members can appoint proxies to attend an AGM and vote on their behalf. The proxy should be appointed in writing, and the proxy form should be signed by the member.
In case the proxy is appointed by a corporate shareholder, the proxy form should be signed and sealed by an authorised signatory of the corporate. The members can elect one among themselves as the chairman of the meeting. However, if the articles of association of the company provide for a chairman, such person shall chair the AGM of the company.
Minutes of an AGM
Every company has to prepare the minutes of the AGM compulsorily. The minutes of the AGM means the written record of the proceedings of the meeting. They state the events that took place and the resolutions passed in the AGM.
The Company Secretary will record the proceedings of the AGM. Where there is no Company Secretary, any other person duly authorised by the Board or by the Chairman will record the proceedings.
The minutes of the AGM should be signed and entered in the minute book within thirty days from the AGM. The Minutes book will be kept at the Registered Office of the company or at such other place approved by the Board. Any member/shareholder of the company, upon request to the company, can inspect the Minutes book of the AGM on paying the prescribed fee.
Documents:
The company's annual financial report is one of the things that must be shown at the Annual General Meeting.
Report of the auditor
Report of the director
Questions:
At an AGM, the person in charge will give shareholders a chance to ask questions about the company's management, the compensation report, and the auditors.
Audit:
The shareholders can send the company auditor any questions they have about the business in writing at least five days before the AGM or at the meeting itself. They have to send their questions to the board of directors, and if the questions are about the company, the company will send them to the auditor. The company's auditor can also go to the annual general meeting and answer all the questions.
Extension of Time for Holding an AGM
The Registrar of Companies can extend the time available to hold an AGM by three months. The company should apply for an extension through e form GNL-1 specifying the reasons for the extension and the period for which the company requires an extension. The RoC will record the reasons for giving the extension. However, no extension is available to hold the first annual general meeting.
Reasons for Seeking an Extension of AGM
Mergers and acquisitions.
Delay in finalising the financials.
Delay in audit reports due to absence of auditors because of reasons such as death, resignation, incapacity to sign or other such valid reasons.
Information loss in a computer due to virus or system-related issues.
Non-readiness of the economic records due to natural calamity, loss of commercial data, and vacancy of directors.
Change in a financial year.
Non-availability of shareholders leads to the absence of a quorum.
Non-availability of directors on valid grounds. For example, there is the sudden demise of a director due to which the limit of directors goes below the minimum requirement of directors.
Confiscation of books of accounts by the IT department, Serious and Fraud Investigation Cell or other government officials.
Steps for Filing an Application Seeking Time Extension for Conducting AGM
The director of the company will initiate a meeting of the board of directors concerning which notice has to be sent to all the directors 7 days before holding the board meeting.
Hold a board meeting on the particular date mentioned in the notice.
Pass a board resolution for time limit extension for holding the annual general meeting detailing the unsettled reason for an AGM extension.
The form will go through the office of the RJSC.
The Registrar will verify the application on the precise grounds and may permit an extension when he/she thinks it’s valid to grant the same.
Get the certificate of the extension privilege in the holding of AGM of the company from the Registrar.
Registration of copies of special and extra ordinary resolution
Within fifteen days of the resolution being passed, a copy of it must be printed, signed by a person with the right to do so, and sent to the Registrar to be recorded. Every copy that was printed after the date of the resolution included a copy of the registered article.
If the article wasn't registered, it could be sent to be printed for 50 taka or less, depending on what the company said. If a company makes a mistake, it will have to pay up to 50 taka for each copy. Section 88 says that anyone in the company who makes a mistake on purpose will be punished for that mistake.
Penalty for delaying to hold AGM
If default is made in terms of holding the annual general meeting in prescribed time in accordance sub-section (1) and (2) of section 81 of the Companies Act, 1994, the person or company responsible for the default will have to pay a fine that could go up to BDT 10,000. If the default continues, the fine will go up by 250 taka every day after the first day it happens.
Consequences and Penalty for Default in Holding an AGM
In case a company fails to hold an AGM within the stipulated time or extension obtained by it, the Tribunal may itself or on an application made by any director or member order an AGM to be conducted as per its directions.
If the company further defaults in holding a meeting in accordance with the directions of the Tribunal, the company and every officer of the company who commits the default shall be punishable with a fine of up to Rs 1 lakh. In case of continuing default, a fine of Rs 5,000 per day is levied for each day during which the default continues.
Points
Explanation
Mode of issuing Notice
In the current circumstances, the notices can be sent via e-mails registered with the company or depository participants. Before sending out notices together with the financial statements, company must publish atleast once in a vernacular newspaper in the district in which the registered office of the company is situated and one english newspaper also preferably having electronic editions.
Access to Auditor’s Report
Due to the difficulty in sending out physical copy of the financial statements (including Board’s report, Auditor’s report, or other documents), these can be sent out via e-mail to the members, trustees and the persons entitled.
Dividend dispatch measures
The companies can make adequate arrangements to allow the mermbers to give their mandate for receiving dividends directly in their bank accounts through the ECS or any other means. For shareholders not have not shared bank accounts details may receive the dividend warrant/cheque by post.
Matters considered in the AGM
Only the items of special business, considered to be unavoidable by the Board, may be transacted, apart form ordinary business.
Mode of conducting a meeting
The meeting must be conducted through Video Conferencing or other audio-visual means (OAVM).
Place of conducting AGM
At any other place in the district where the registered office of the company is located taking cautionary steps as stipulated. It can also hold meeting virtually with some members physically present and providing the facility of VC or OAVM, for allowing other members of the company to participate in such meeting.
Quorum of the AGM
All the members physically present in the meeting and those attending the meeting through the.facility of VC or OAVM shall be taken together for arriving at the quorum under section 103 of the Act.
Frequently Asked Questions
How many AGMs must be conducted in a year?
A company that is not a sole proprietorship must hold at least one Annual General Meeting (AGM) every year. If the company just got started, the first AGM should take place within nine months of the end of the first financial year. So, the company doesn't have to have an AGM in the same year it was founded.
Do AGM rules apply to a General Meeting?
There are many different kinds of general meetings in a company. These include the annual general meeting, the extra ordinary general meeting, meetings of members, and meetings of creditors or debenture holders. All general meetings of a company must follow the rules about how to hold an AGM, the quorum, the rights of members, and the minutes of an AGM.
Can we hold an AGM on Sunday?
Yes. An AGM can happen on any day, even a Sunday, as long as it's not a national holiday on Sunday. But the AGM should be held on a Sunday during business hours, from 9 a.m. to 5 p.m.
Can an AGM be held on a public holiday?
Yes, an annual general meeting can be held on a holiday. According to the Companies Act of 1994, an AGM cannot be held on a national holiday. But the Act says nothing about public holidays. So, a company can hold its annual meeting on a holiday.
If an adjourned AGM falls on a National holiday, can the AGM be held on that day?
Yes. An AGM cannot be held on National Holiday; however, no specific provision restricts an adjourned AGM to be held on a national holiday. Thus, an adjourned AGM can be held on a national holiday as the original scheduled date of the meeting was not on a national holiday.
What are the national holidays in Bangladesh in 2023?
Holidays and Observances in Bangladesh in 2023
Date
Name
Type
1 Jan
Sunday
New Years Day
Optional Holiday
10 Jan
Tuesday
Bangabandhu Homecoming Day
Observance
26 Jan
Thursday
Saraswati Puja
Optional Holiday
5 Feb
Sunday
Maghi Purnima
Optional Holiday
14 Feb
Tuesday
Valentine's Day
Observance
18 Feb
Saturday
Maha Shivaratri
Optional Holiday
19 Feb
Sunday
Shab-e-Meraj
Optional Holiday
21 Feb
Tuesday
Language Martyrs' Day
Government Holiday
2 Mar
Thursday
National Flag Day
Observance
7 Mar
Tuesday
Doljatra
Optional Holiday
8 Mar
Wednesday
Holi
Hindu Holiday
8 Mar
Wednesday
Shab e-Barat (Tentative Date)
Government Holiday
17 Mar
Friday
Sheikh Mujibur Rahman’s birthday
Government Holiday
19 Mar
Sunday
Arrival Day of Sri Sri Harichand Tagore
Optional Holiday
21 Mar
Tuesday
March Equinox
Season
26 Mar
Sunday
Independence Day
Government Holiday
6 Apr
Thursday
Maundy Thursday
Optional Holiday
10 Apr
Monday
Easter Monday
Optional Holiday
14 Apr
Friday
Bengali New Year
Government Holiday
19 Apr
Wednesday
Shab-e-qadr (Tentative Date)
Government Holiday
21 Apr
Friday
Jumatul Bidah (Tentative Date)
Government Holiday
22 Apr
Saturday
Eid ul-Fitr (Tentative Date)
Government Holiday
23 Apr
Sunday
Eid ul-Fitr Holiday (Tentative Date)
Government Holiday
24 Apr
Monday
Eid ul-Fitr Holiday (Tentative Date)
Government Holiday
25 Apr
Tuesday
Eid ul-Fitr Holiday (Tentative Date)
Optional Holiday
1 May
Monday
May Day
Government Holiday
4 May
Thursday
Buddha Purnima/Vesak
Government Holiday
14 May
Sunday
Mothers' Day
Observance
18 Jun
Sunday
Fathers' Day
Observance
29 Jun
Thursday
Eid al-Adha (Tentative Date)
Government Holiday
30 Jun
Friday
Eid al-Adha Holiday (Tentative Date)
Government Holiday
1 Jul
Saturday
Eid al-Adha Holiday (Tentative Date)
Government Holiday
2 Jul
Sunday
Eid al-Adha Holiday (Tentative Date)
Optional Holiday
29 Jul
Saturday
Ashura (Tentative Date)
Government Holiday
15 Aug
Tuesday
National Mourning Day
Government Holiday
6 Sep
Wednesday
Janmashtami
Government Holiday
11 Sep
Monday
Akhari Chahar Somba (Tentative Date)
Optional Holiday
27 Sep
Wednesday
Eid e-Milad-un Nabi (Tentative Date)
Government Holiday
24 Oct
Tuesday
Durga Puja
Government Holiday
16 Dec
Saturday
Victory Day
Government Holiday
25 Dec
Monday
Christmas Day
Government Holiday
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Legal Advice regarding Annual General Meeting by Tahmidur Rahman Remura:
Barristers, Advocates, and lawyers at Tahmidur Rahman Remura Wahid in Gulshan, Dhaka, Bangladesh, have a lot of experience helping clients through the whole process of legal provisions and consequences of Annual General Meeting of any Domestic and International Companies in Bangladesh. If you have any questions or need legal help, please send us an inquiry over email or phone.
Email at: info@trfirm.com Call us on: +8801847220062, +8801779127165 Address: House 410, Road 29, Mohakhali DOHS Phone: +8801779127165 or 01847220062
EB-1 category has shorter backlogs or no backlogs. For applicants born in India and China facing years-long backlogs in the EB-2 and EB-3 categories, this is an important consideration;
EB-1C category doesn’t have a labour certification requirement;
EB-1C category generally comes with the ability to concurrently file an adjustment of status petition with the Form I-140 since the EB-1 category is often “current” for most applicants.
EB-1C disadvantages:
EB-1C category requires foreign employment abroad for a company related to the U.S. petitioner;
Business in the United States must be operating for at least a year before the I-140 petition can be filed;
USCIS rules seem to favor larger organizations with multiple layers in the organizational hierarchy. Startups can face more challenges.
There is no rule that says the U.S. company and the foreign company have to be in the same business field.
For EB-1C cases, it's important to show that the U.S. entity and the foreign entity that is sending the beneficiary to the U.S. are owned and controlled by the same people and have the right kind of relationship.
Before coming to the United States, the law says that the beneficiary must have worked for an affiliate or subsidiary of a U.S. firm, corporation, or other legal entity.
According to USCIS Manual:
A qualifying relationship exists when the U.S. employer is an affiliate, parent or a subsidiary of the foreign firm, corporation, or other legal entity.
To establish a “qualifying relationship”, the petitioner must show that the beneficiary’s foreign employer and the proposed U.S. employer are the same employer (i.e., a U.S. entity with a foreign office) or related as a “parent and subsidiary” or as “affiliates.”
Joint ventures may also qualify as a subsidiary.
The rules allow for a broader reading of “control” to include a stake less than 50% if one entity has effective control over the other.
For startups, USCIS allows for “self-incorporated” petitioners with as few as one owner or employee to seek an EB-1C as long as the corporation is a “separate and distinct legal entity from its owners or stockholders.”
Keep in mind that if a company stops doing business abroad before the beneficiary has finished getting their immigrant visa, the visa will be denied.
The employer must have been "in business" in the U.S. for at least a year.
“The regular, systematic, and continuous provision of goods and/or services by a firm, corporation, or other entity and does not include the mere presence of an agent or office.”
EB-1C petitioners are required to demonstrate that they have the ability to pay the offered salary. The following documents can be submitted to USCIS as proof of ability to pay:
Annual reports;
Federal tax returns;
Audited financial statements.
Employee Requirements
The applicant must meet the following requirements:
The beneficiary must have been employed full-time by an overseas entity for a period of at least one year during the three years before the date the immigrant visa petition is filed;
The work abroad must have been in a managerial or executive capacity and the beneficiary must be coming to the United States to work in a “managerial” or “executive” capacity.
According to USCIS, managerial capacity means that the employee primarily:
Manages the organization, or a department, subdivision, function, or component of the organization;
Supervises and controls the work of other supervisory, professional, or managerial employees, or manages an essential function within the organization, or a department or subdivision of the organization;
If another employee or other employees are directly supervised, has the authority to hire and fire or recommend those as well as other personnel actions (such as promotion and leave authorization), or, if no other employee is directly supervised, functions at a senior level within the organizational hierarchy or with respect to the function managed; and
Exercises direction over the day-to-day operations of the activity or function for which the employee has authority.
“Function managers” may also qualify for the EB-1C category.
According to USCIS, “functional” or “function manager” is someone who:
Does not supervise or control the work of a subordinate staff;
Instead is primarily responsible for managing an “essential function” within the organization.
A manager may qualify as a “function manager” if the beneficiary will be primarily managing or directing the management of a function of an organization, even if the beneficiary does not directly supervise any employees.
A function manager will have the following characteristics:
Manages the organization, or a department, subdivision, function, or component of the organization;
Manages an essential function within the organization, or a department, or subdivision of the organization;
Functions at a senior level within the organizational hierarchy or with respect to the function managed; and
Exercises discretion over the day-to-day operations of the activity or function for which the employee has authority.
“Executive capacity” is defined by law as an employee who primarily:
Directs the management of the organization or a major component or function of the organization;
Establishes the goals and policies of the organization, component, or function;
Exercises wide latitude in discretionary decision-making; and
Receives only general supervision or direction from higher level executives, the board of directors, or stockholders of the organization.
With respect to newer U.S. operations, there must be sufficient staff (e.g., contract employees or others) to enable the beneficiary to be primarily employed in the executive function.
The petitioner must also establish that the U.S. entity itself is in fact conducting business at a level that would require the services of an individual primarily engaged in executive (or managerial) functions.
To prepare a strong EB-1C application, you should be very specific about:
Job duties;
The percentage of time being spent on each job duty;
How the employee is going to manage a function or a department;
How an executive’s senior-level role is reflected in their day-to-day specific job duties;
Organizational chart;
Showing there are sufficient employees below in the hierarchy managing everyday operation and that the manager or executive is not also filling those roles.
EB-1C application should be accompanied by a letter from the foreign entity verifying:
One year of full-time employment outside the United States;
The nature of the work performed abroad by the petition beneficiary and the salary paid;
Foreign company’s organizational chart showing the beneficiary’s role.
EB-1C Checklist of Required Documents
Type of documentExamples of acceptable documentsWho provides itForeign company documents◉ Incorporation documents:Partnership or Joint Venture Agreement;Articles/Memoranda of Incorporation;Bylaws;Stock certificates/ledger;Name change/registration. ◉Business permits/licenses/registration; ◉Company annual report/marketing brochure/resume; ◉Lease/deed;Mortgage or rent receipts;Organizational chart; ◉Articles, promotional materials about the company, its products, services or key people; ◉Recent company tax return or financial statement; ◉Awards, memberships or special achievements by the company or key personnel; ◉Photographs of the inside and outside of the facilities.
Foreign company
U.S. company documents
◉Incorporation documents;Branch qualification to do business in the U.S. or state; ◉ Business permits/licenses/registration;Company’s annual report/marketing brochure/resume;Latest financial statement or federal tax return; ◉Four most recently filed IRS Form 941 Employee Quarterly Report;Four most recently filed State Employee Quarterly Reports; ◉Documentation showing any changes affecting corporate structure (if applicable);Lease/deed; ◉Mortgage or rent receipts;Organizational chart; ◉ Articles, promotional materials about the company, its products, services or key people;Awards, memberships or special achievements by the company or key personnel; ◉Photographs of the inside and outside of the facilities.
U.S. company
Employee’s position abroad
◉ Highly detailed job description of the employee’s position abroad, including: ◉Foreign job title;Description of duties;Task performed in the position; ◉Estimated percentages of time spent on each activityDescription of how the beneficiary supervised and controlled the work of other supervisory, professional, or managerial employees, or Managed an essential function, department or subdivision of the organization. ◉ Organizational chart which should list:Beneficiary’s position; ◉ All employees in the employee’s immediate division, department, or team by name, job title, summary of duties, education level and salary.If the beneficiary supervised other employees: ◉ Work product examples showing how he supervised and directed these employees (for example, copies of performance appraisals or reviews, any other evidence that demonstrates the beneficiary had sufficient managerial authority). ◉ Payroll records showing employment of all employees under the beneficiary’s direction;Pay stubs or other documentation showing employee’s employment by the foreign company for at least one year during the previous three years.
Foreign company
Offered U.S. position
◉ Highly detailed job description of the U.S. position being offered, including:Job title;Description of duties;Tasks performed;Estimated percentages of time spent on each activity ◉ Description of how the beneficiary will supervise and control the work of other supervisory, professional, or managerial employees, or Manage an essential function, department, or subdivision of the organization.Organizational chart showing:U.S. position being offered to the employee; ◉ All employees in the employee’s immediate division, department, or team by name, job title, summary of duties, education level and salary.If the beneficiary will supervise other employees:
Work product examples showing how he supervised and directed these employees (for example, copies of performance appraisals or reviews, any other evidence that demonstrates the beneficiary had sufficient managerial authority).
◉ Payroll records showing employment of all employees under the beneficiary’s direction;Employment agreements entered into by newly hired employees now shown in the payroll records who will be managed by the employee;
◉Assignment or transfer letter/contract showing proposed terms of assignment and salary.
U.S. company
Here is a general list of some of the documents you should include with your EB1C visa petition:
Signed statements from authorized representatives of the US company and foreign company explaining the qualifying relationship between the foreign company and the US company.
Tax returns for both the US company and the foreign company.
Records of stock ownership for both the US company and the foreign company.
Articles of incorporation for both the US company and the foreign company.
By-laws for both the US company and the foreign company.
Detailed organizational charts for both the US company and the foreign company.
Signed statements from authorized representatives of the US company and foreign company clearly explaining the foreign workers job description and daily duties with percentages of time spent on each task.
What is the Process of Applying for an EB1C Executives and Manager Visa from Bangladesh?
i. Step 1: Hire an Immigration Lawyer
The first step in applying for an EB1C visa is to hire a qualified immigration lawyer. Your immigration lawyer will analyze the specific details of your case and provide you with a plan for how to proceed.
Your immigration attorney will also give you a list of all the documents you need to file your EB1C petition. Your job will be to gather these documents and give them to your immigration lawyer so that he or she can make your immigrant petition and send it in.
ii.Step 2: File Form I-140
The Immigrant Petition for Alien Worker is another name for Form I-140. This is the first form that will be filled out on your behalf by your immigration lawyer. The petitioner is the US company, and the beneficiary is the foreign worker.
Along with the Form I-140, your immigration lawyer will also send all supporting documents, such as organization charts, tax records, signed statements, etc.
iii. Step 3: Changing your status or getting a visa
The next step will depend on the specifics of the EB1C visa recipient's case. There are two different ways to move forward:
Adjustment of Status
Visa Processing
Adjustment of Status
The adjustment of status is the process of going from non-immigrant status to immigrant status.
An adjustment of status is an option available to certain non-immigrants who are lawfully present in the United States in a non-immigrant status. For example, if you lawfully present in the United States in L1 status, then you may be eligible for an adjustment of status.
In order to do an adjustment of status, your immigration lawyer will file a Form I-485. The Form I-485 is also called the Application to Register Permanent Residence or Adjust Status.
If you are not lawfully present in the USA, then you will likely go through visa processing. Visa processing, also referred to as consular processing, is the process of getting a visa at a US Consulate abroad.
In order to do visa processing, you will file a Form DS-260 (Immigrant Visa Application) with the appropriate US consulate. Once your DS-260 is processed, you will schedule and attend a visa interview. Upon successful completion of your visa interview, you should get an EB1C visa.
The EB1C visa is a great way for a foreign company to send a manager or executive to work for a related US company. With an EB1C visa, a foreign worker can get a US green card, which allows them to live and work in the US.
It is very important to make sure you meet all of the EB1C visa requirements if you want to get an EB1C visa approved. Since EB1C is an immigrant classification and qualifies for a green card, it is handled more strictly than L1 visas.
If you need help applying for an EB1C visa or have questions about this guide, please email me at info@trfirm.com.
A top immigration law firm in Bangladesh, Tahmidur Rahman Remura Wahid is based in Dhaka. Our law firm helps professionals and business owners get visas to the U.S., and we would be happy to help you as well.
A residence permit is needed if you want to live in the UK for more than six months at a time.
A residence permit is an immigration document that lets people from other countries live, work, use public funds, and settle in the country. Here are some of the most common types of permission to live in the UK.
Getting a UK biometric residence permit shows that you are living, working, or going to school in the UK legally. You can get a UK biometric residence permit if you:
Apply to come to the UK for longer than six months.
Extend your visa for longer than six months.
Apply to settle in the UK.
Transfer your visa to a new passport.
Apply for certain Home Office travel documents.
The BRP has a chip that prevents it from being forged or misappropriated, with dimensions of 86mm x 54mm, and is made of polycarbonate.
How Do I Apply for a Biometric Residence Permit?
If you are applying for a UK visa or to move there, you do not need to apply for a biometric residence permit separately. You will need to make an appointment with the UK Visa and Citizenship Application Services whether you are applying from inside or outside the UK.
At this appointment, you will have to give some information about yourself for your biometric residence permit. It takes about five to ten minutes to finish. If your visa application is accepted, you'll get a BRP that you can pick up once you're in the UK.
How Long Is a UK Biometric Residence Permit Valid?
The biometric residence permit is valid for ten years, but if you were granted indefinite leave to remain within the last few years, then your BRP may expire on the 31st of December, 2024.
In addition, those granted a five-year indefinite leave to remain are also eligible for BRPs with an expiration date of December 31st, 2024.
How Long Does It Take To Get a UK Biometric Residence Permit?
Once the Home Office sends you a decision letter stating that you are permitted to remain in the UK, you will receive your BRP within ten days.
However, if you apply from the Isle Man, Isles of Scilly, and Scottish Highlands and islands, it might take longer.
UK Residence Card
You can no longer get a UK residence card, which is also called an EEA biometric residence card (BRC). As an EU citizen, you need another type of permission to stay in the UK, like settled or pre-settled status under the EU Settlement Scheme, if you want to keep living there.
EU Settlement Scheme
The EU Settlement Scheme was made so that people from the EU could live in the UK after Brexit. Most people had until June 30, 2021, to sign up for the EU Settlement Scheme. You can still apply if you or a member of your family lived in the UK by December 31, 2020, and you are from the EU, Switzerland, Norway, Iceland, or Liechtenstein. Also, you have to either:
Meet one of the criteria for a later deadline application.
Have valid reasons for not applying by 30 June 2021.
Pre-Settled Status
The pre-settled status is granted to the EU settlement scheme applicants who cannot demonstrate that they lived in the UK for five uninterrupted years.
You must have started living in the UK by 31 December 2023 to be eligible to apply. After being given pre-settled status, you will be given five years to remain in the UK.
You are allowed to stay for two years outside of the UK and not lose the pre-settled status. However, you will not be able to apply for the settled status. In order to qualify for pre-settled status, you need to prove:
You are an EEA citizen, or
You are a family member of an EEA citizen, or
You are a family that gained the right of residence through a relationship with an EEA citizen, or
You are a person with a derivative right to reside, or
You are a person with a Zambrano right to reside, or
You have started to live in the UK on 31 December 2020, and
You are not eligible for settled status because you have not completed the qualifying five-year period of residence.
There are no fees for a pre-settled status application. It usually takes five working days for an application to be processed.
Settled Status
People who apply for the EU Settlement Scheme and can prove that they have lived in the UK, the Channel Islands, or the Isle of Man for at least five years without stopping are given settled status. Unless you are a new family member, you must have moved to the UK by December 31, 2020.
The settled status is commonly known as the indefinite leave to remain.
The Indefinite Leave to Remain (ILR)
The UK permanent residence permit is another name for the indefinite leave to stay. If you stay in the UK for a certain amount of time, you might be able to apply for indefinite leave to stay. As an ILR holder, you no longer have to follow any rules about how long you can stay in the UK. You can work, study, and do business there for as long as you want.
Routes to Indefinite Leave to Remain
Visas that provide a route to ILR include the following:
ILR based on a work visa.
Skilled Worker Visa.
Scale-up Worker visa.
Global Talent visa.
Tier 1 Entrepreneur.
Investor visa.
Innovator visa.
Representative of an overseas business.
Turkish Worker or Businessperson visa.
Private servant in a diplomatic household with an International Agreement visa or a domestic visa.
Returning residents who have previously held ILR and are a refugee or have humanitarian protection or Discretionary leave.
Personnel of armed forces.
What Are the Requirements for Indefinite Leave to Remain?
To be eligible for Indefinite Leave to Remain, you must reside in the UK for a certain period that depends on the categories of immigration:
Current Category
Qualifying ILR Period
Spouse or civil partner of a British Citizen or person settled in the UK visa
After five years
Unmarried partner
After five years
EEA Family Permit
After five years
UK Ancestry visa
After five years
Tier 1 (Investor) visa
After two, three or five years depending on the level of investment
Tier 1 (Entrepreneur)
After three or five years depending on the business activity
Tier 1 (Exceptional Talent) visa
After three years
Tier 2, T2, International Sportsperson or Skilled Worker visa
After five years
Scale Up visa
After five years
Innovator visa
After three years
Global Talent visa
After three or five years
PBS visa dependants
After five years
Representative of overseas business visa
After five years
Turkish Worker of Businessperson visa
After five years
Retired Person visa
After five years
Discretionary Leave to Remain
After six years
Long residence
After ten continuous years
Returning resident
If settled in the UK prior to departure and returning to the UK within three years of departure, they may be able to apply immediately on return
Turkish worker or businessperson
After five years
Except for completing your period of staying in the UK, you will also need to submit:
Proof that in any 12 months of the qualifying period, you are not absent from the UK for more than 180 days.
Proof that you have passed a Life in the UK Test.
English proficiency evidence.
Provide evidence that your application meets the General Grounds for Refusal.
How Long Can I Stay in the UK With a Indefinite Leave to Remain?
The validity of indefinite leave to remain is indefinite, but it may expire if you stay away from the UK for two years, regardless of the expiration date of the BRP or passport stamp.
UK Residence Permit for Commonwealth Citizens
Commonwealth citizens can get a UK residence permit through:
UK Ancestry Visa.
Certificate of Entitlement for the Right of Abode, and
Residence permits under the Windrush Scheme.
UK Ancestry Visa
As a commonwealth citizen, you can apply for a UK ancestry visa if one of your grandparents was born in the UK and you intend to work there. A UK ancestry visa is valid for five years. To be eligible for a UK ancestry visa, you must:
Be 17 years or older.
Have enough money to support yourself or any other dependents without help from public funds.
Prove that you can and plan to work in the UK.
Prove that you have a grandparent born:
In the UK, the Channel Islands, or the Isle of Man.
Before the 31st of March 1922 in what is known now as Ireland.
On a ship or aircraft registered in the UK or belonging to the UK government.
Certificate of Entitlement for the Right of Abode
A certificate of entitlement for the right of abode is a vignette inside your passport or any travel documents proving that you have the right of abode in the UK. Commonwealth citizens have the right of abode because of their parents or spouse.
Residence Permits Under the Windrush Scheme
The Windrush Scheme enables Commonwealth citizens and their children of the UK to obtain documentation confirming their status free of charge. You can apply for the Windrush scheme within and outside of the UK. You can apply to prove you can live and work in the UK if:
Before the year 1973, you came to the UK from a Commonwealth country.
Your parents came to the UK from a Commonwealth country before 1973.
You came to the UK before the 31st of December 1988 from any country and now live in the UK.
To get UK PR, it is required to live in UK for 5 years under one of the following categories:
Tier 1
Tier 2 of the points based system: for the skilled professionals from overseas who has a valid job offer in United Kingdom
Businessperson
Investor
International students and Research Fellows
Representative of an overseas newspaper, news agency, PR agency or broadcasting organization
Private servant in a diplomatic household
Domestic worker in a private household
Overseas government employee
Self-employed lawyer or solicitor
UK ancestry
Highly skilled migrant under the Highly Skilled Migrant Programme (HSMP)
Retired person of independent means
Sole representative of an overseas firm
One can also apply for UK PR if you have a family member or a partner who is a British citizenship.
Eligibility Criteria
Applicant must be able to submit proof of living in the UK for a pre-set time duration, legally or otherwise corresponding to their granted visas. The following Table shows time period of stay in UK to be completed the stated categories:
S. No
Various visas/ Conditions of Stay
Duration of Stay
1
Marriage or unmarried partner to UK citizen
2 years
2
Lawful stay on any basis (long stay)
10 years
3
Unlawful stay
14 years
4
Tier 1 and Tier 2 Work Permit
5 years
5
Investor, sportsperson, business owner, arts
5 years
6
Ancestry
5 years
Eligibility for settlement as a family member of a UK Citizen
Applicant must be a partner of a UK citizen or of one permanently settled in the UK. He or she must be currently on a family visa (of 2, 5 or 10 years) as a partner or spouse the partner who is a British citizen.
Marriage
The applicant for a partner visa is eligible if they are married to a British partner, in a civil partnership, or in a long-term relationship with a British partner who is not married.
Living together
You must show that you are living together and plan to stay together after you get residency. Proof can come in the form of a joint bank account, a joint lease, or other official papers.
‘Life in the UK’Test
It is compulsory to pass the ‘Life in the UK’ test. This test is designed in a simple manner to evaluate your knowledge of British life and assess your reverence and compatibility towards it.
English test
Since English is the official language of communication in all parts of British life, applicants who don't speak English as their first language must take this test to show that they can speak and understand it well. This requirement can be met with a degree or certificate from a UK school that is known and respected.
Proof of finances
In case you have dependant family, your finances need to be in order as per the prescribed limits of the immigration system. Currently the funding expectations to support your family if you are on the 5-year route visa are as follows:
At least £18,600 a year in case of no dependents.
At least £22,400 a year in case of one dependent child.
Extra £2,400 a year for each child above the limit on one.
This way of figuring out income includes all children under 18 except those who were born in the UK or EU. The limits are based on the combined income of both people.
For both the 2-year and 10-year routes, there is no minimum amount of money that must be made. When submitted, proof of finances must show that the applicant can take care of their family without help from UK public funds.
Permanent residence as a family member of someone settled in the UK
Spouse or partner must be settled in the UK on the basis of a work visa (Tier 1, 2 or 5 visa). Applicant must be married /in a civil partnership/ be in a relationship for at least 2 years to be eligible for permanent residence.
Eligibility for partners
You must currently be on a visa as your partner’s dependent. If you received your visa after your partner was granted settled status, you will need to apply as a partner of a settled person.
If your current visa was issued before 9 July 2012, you must have lived with your partner for at least 2 years. This will go up to 5 years if your visa was granted on or after 9 July 2012.
When you apply, you must still be living together with your partner and intend to continue doing so. You should not be claiming benefits (accessing public funds) when you apply.
English Language and knowledge of life in the UK requirements also apply so you should make sure you satisfy these requirements before making your application.
Documentation:
Current Pay slips
Bank account statements
Address proof (like rent or lease contract etc.)
Council tax letters
Proof supporting calculation of an applicant’s disclosed other sources of income, if any.
Appointment Letter from employer on company Letterhead with signatory authority stamp and date in case the applicant is a job employee.
In case of business owners, material apropos must be provided regarding registered business address, relevant valid permits etc.
Application Process
Carefully check all requirements for eligibility criterions and compile all the relevant documents to submit as proof. Provide access to your immigration history, with details of UK visas since your arrival.
Categories of application forms offered:
Select the one suitable to the applicant’s personal background out of the two categories:
Set(O):
Applicable to partner of a UK citizen or the parent of a child settled in the UK.
Documents as proof of your legal relationship status:
Marriage / Birth certificate (as the case may be).
Documented Photo/ video proof with the said settled family member.
Set(M)
Applicable to immigrants living in the UK in any one of the above-mentioned categories.
Registration for family members of non-EU Immigrants in the UK
Non-EU immigrants can fill out a separate application form for each member of their family who wants to join them. The application can be sent on behalf of minors and children under 18 by their parent or guardian. If all of the requirements are met, each case will be judged on its own merits to see if it can be registered as a resident.
Applicants for a Tier 1 or Tier 2 visa can let their family join them in the UK if each permit for sponsoring a spouse or dependent children is checked and found to be valid.
Online applications can be sent in with a copy of the downloaded application form that has all of the required fields filled out with correct and checked information. Along with it, the applicant must include a copy of his or her passport, biometric information, and proof of all the information given.
Your application can be sent online. In 6 months, you will hear back about your application.
You can use the premium processing service if you would like to. You will be given a time when your application will be looked at in person, and on that day, you will find out what will happen.
Cost
It takes £2389 for an individual application by post. Application in person fees might be slightly higher and the advantages of this method is that a decision is declared on the same day avoiding the 6 months waiting.
Processing
It takes 6 months in general.
Citizens of the EU, the EEA, or Switzerland can no longer apply for a visa to live permanently in the UK. If a request is made before January 1, 2021, it will still be looked at, but it could take up to 6 months to get a decision.
After June 30, 2021, all EEA permanent residence cards that have already been issued will no longer be valid. These cards show that a person has the right to live permanently in the UK if they have used their Treaty rights in the UK for 5 years straight.
Until then, it can be used to apply for British citizenship and sponsor your partner's visa application if they're applying for a visa based on your residence.
Living in the UK after 30 June 2021
For those who were living in the UK by 31 December 2020, it is possible to apply to the EU Settlement Scheme and if ‘settled status’ is granted, you can apply for British citizenship at a later date. Applications close on 30 June 2021.
Family members
Your close family members (spouse or civil partner, child, grandchild, parent or grandparent) can also apply to the EU Settlement Scheme. Your ‘extended’ family members (unmarried partner, brother, sister, aunt, uncle, cousin, nephew or niece) can apply if they have a UK residence card.
Applying for British citizenship
A PR document qualifies you to apply for British citizenship only after 1 year, provided you have lived in the UK at least 5 years just prior to the application.
However, if your husband, wife or civil partner is a British citizen, you can apply after living in the UK for 3 years
Conditions that apply in permanent residency
Your visa status expires if:
You spend more than 2 years outside the country. The pre settled status becomes void and you will need to reapply for it in case you want continuous residence in the country once again.
Any criminal offense is committed by the individual which would cancel the PR permit and could lead to deportation.
Permanent residency applications could be turned down if the applicant's social media handles don't pass the fairness test. Immigration officers are allowed to check the information that applicants give based on the information they get from their social media accounts.
Are you intending to get a Permanent Residence in UK or a residence permit?
Get your Permanent Residence in UK from Bangladesh with the help of Tahmidur Rahman Remura: TRW: The Law Firm in Bangladesh:
ব্যবসার জন্য ফায়ার লাইসেন্স নিবন্ধন এবং লাইসেন্স :
ফায়ার লাইসেন্স নিবন্ধন এবং সংগ্রহের পদ্ধতিঃ
যে কোন শিল্প প্রতিষ্ঠানের জন্য ফায়ার লাইসেন্স গ্রহণ অবশ্য প্রয়োজন। ফায়ার লাইসেন্স হল একটি বাধ্যতামূলক লাইসেন্স যা অগ্নি প্রতিরোধ ও অগ্নিনির্বাপণ আইন, ২০০৩ দ্বারা নির্ধারিত বাংলাদেশের সমস্ত কারখানার জন্য প্রয়োজন৷ এই আইনটি প্রতিরোধ, সফলভাবে আগুন নির্বাপণ এবং আগুন ক্রীত ক্ষতি হ্রাসের বিষয়ে নিয়ন্ত্রক আইন নির্ধারণ করে। বাংলাদেশে ফায়ার লাইসেন্স ফায়ার সার্ভিস অ্যান্ড সিভিল ডিফেন্স (FSCD) দ্বারা জারি করা হয়।
ট্রেড লাইসেন্স প্রাপ্তির পূর্বে ফায়ার লাইসেন্স করতে হবে। যদি আপনি উৎপাদনমুখী কোনো শিল্প কারখানা করেন তবে আপনাকে ফ্যাক্টরি পরিদর্শক-এর অফিস থেকে রেজিস্ট্রেশন গ্রহণ করতে হবে।
যদি ট্রেডিং ব্যবসা করেন, তবে উক্ত লাইসেন্স গ্রহণ করতে হবে না। আপনি যদি একটি উৎপাদনমুখী শিল্প কারখানা স্থাপন করেন তখন আপনাকে কারখানা আইনের অধীনে লাইসেন্স নিতে হবে এবং পরবর্তীতে ফায়ার বিভাগ থেকেও ফায়ার লাইসেন্স গ্রহণ করতে হবে।
এই দুটি লাইসেন্স অবশ্য ফ্যাক্টরি করার জন্য মূল মেশিন আমদানির উদ্দেশ্যে প্রয়োজনীয় প্রস্তুতি গ্রহণের পদক্ষেপ ।
ট্রেড লাইসেন্স সংগ্রহের পূর্বে নিম্নলিখিত কাগজপত্র দাখিল করে এই ফায়ার লাইসেন্স নিবন্ধন এবং লাইসেন্স সংগ্রহ করতে হবেঃ
নির্দিষ্ট ফরমে আবেদন করতে হবে; -
■ অগ্নি নির্বাপক যন্ত্র চিহ্নিতকরণপূর্বক কারখানার নকশা ২ সেট;
■ মালিকানার দলিল/বাড়ি ভাড়ার চুক্তিনামা;
■ ট্রেড লাইসেন্স সংক্রান্ত কাগজপত্র;
■ ফায়ার ফাইটিং যন্ত্রপাতি ও যন্ত্রাংশের প্রতিবেদন;
■ টি.আই.এন সংক্রান্ত কাগজপত্র ।
ফায়ার লাইসেন্স নিবন্ধন এর জন্য কোন অফিস হতে লাইসেন্স সংগ্রহ করতে হবে?
মহা-পরিচালক, বাংলাদেশ ফায়ার সার্ভিস ও সিভিল ডিফেন্স, ঢাকা হতে ফায়ার লাইসেন্স সংগ্রহ করতে হয়।
ফায়ার লাইসেন্স নবায়ন আবশ্যক কিনা?
ফায়ার লাইসেন্স বৎসর ভিত্তিতে নবায়ন আবশ্যক।
[doc id=371803]
ফায়ার লাইসেন্স দেওয়ার পদ্ধতি
আবেদনকারীকে প্রয়োজনীয় নথিপত্র সহ ফ্যাক্টরি পরিদর্শক-এর অফিস অর্থাৎ FSDC অফিসে যথাযথভাবে পূরণ করা নির্ধারিত আবেদনপত্র জমা দিতে হবে। FSDC কর্তৃপক্ষ স্থাপনা পরিদর্শন করে এবং পারমিশন জারি করে। আবেদনকারীকে পারমিশন নোটে নির্ধারিত পরিমাণ ব্যাংকে পরিশোধ করতে হবে। ফ্যাক্টরি পরিদর্শক-এর অফিসে ব্যাঙ্কের রসিদ স্লিপ জমা দেওয়ার পরে, পরিদর্শক সংস্থাটি পুনরায় পরিদর্শন করবেন। যদি তিনি সন্তুষ্ট হন যে প্রতিষ্ঠানটি অগ্নি নিরাপত্তার মানক প্রয়োজনীয়তা পূরণ করে, ফ্যাক্টরি পরিদর্শক-এর অফিস একটি ফায়ার সার্টিফিকেট প্রদান করবে।
ফায়ার লাইসেন্স প্রদানের জন্য আনুমানিক প্রক্রিয়াকরণের সময় সাধারণত 90-120 কার্যদিবস হয়।
ফায়ার লাইসেন্স পাওয়ার শর্তাবলীঃ
১। বাংলাদেশ ফায়ার সার্ভিস ও সিভিল ডিফেন্স বিভাগের পরিচালকের দ্বারা নিয়োজিত অফিসার বা অফিসারগণ কর্তৃক পরিদর্শনের নিমিত্তে গুদাম/কারখানা সর্বদা খোলা রাখতে হবে।
২। গুদামকে/কারখানাকে ৬ সংখ্যক ধারায় বর্ণিত শর্তাবলীর সাদৃশ্য হতে হবে।
৩। কোন গুদামের বা কারখানার উপরে বা ছাদে পূর্ণ বা আংশিকভাবে ২ সংখ্যক ধারার ১১ সংখ্যক ধারায় বর্ণিত দ্রব্যাদি তৈয়ার, প্রস্তুত, শুকান অথবা অন্য কোন প্রকারে ব্যাবহার করা যাবে না।
৪। পাট বা তুলা প্রক্রিয়াকরণ বা পাকানোরূপে ব্যবহৃত গুদামের কোন অংশ বাসস্থানরূপে ব্যবহার করা চলবে না এবং পাট বা তুলা গুদামজাত থাকা অবস্থায় গুদামে কোন কৃত্রিম আলো বা বাতি বহন করার অনুমতি দেয়া যাবে না । কোন ব্যক্তি ধুমপান করতে অথবা দিয়াশলাই বাক্স বা দিয়াশলাই শলাকা বা অসংরক্ষিত কোন ক্রিত্তিম আলো বা বাতি ব্যাবহার করার অনুমতি দেওয়া যাবে না ।
৫। নিম্নবর্ণিত অগ্নি নির্বাপক ব্যবস্থা গ্রহণ করতে হবেঃ
i) পানি ভর্তি ৪০-৪৫ গ্যালনের ১ (এক) টি ড্রাম গুদামের বাহিরে সহজে দেখা যায় এমন স্থানে স্থাপন করতে হবে প্রতি ড্রামের পার্শ্বে লোহার ষ্ট্যান্ডে ৬টি করে বালতি হুকের সাহায্যে উল্টিয়ে রাখতে হবে। ড্রাম ও বালতির বাহিরে লাল ও ভিতরে সাদা রং করতে হবে। ড্রাম ও বালতির বাহিরে “আগুন” শব্দটি সাদা রং দ্বারা লিখিত যায় এমন ঢাকনি দিতে হবে। ড্রামের পানি মশা/মাছি যাতে নষ্ট করতে না পারে সেই জন্য সহজে খোলা যায় এমন ঢাকনি দিতে হবে ।
ii) কর্মরত কর্মকর্তা ও কর্মচারীদের আপদকালীন সময়ে সহজে বাহির হওয়ার জন্য নিয়মিত সিড়ি ছাড়াও উপর হতে নিচ তলা পর্যন্ত একটি বিকল্প সিড়ি রাখতে হবে।
The Bangladesh government has ordered that all garment and textile buying houses in Bangladesh must register with the textile department in order to conduct business. The textiles and jute ministry stated in a gazette notification on May 28, 2023 that registration is required within 60 days. If a buying house requests an extension for valid reasons, it may be granted an additional 60 days. The government will take legal action if registration is not completed on time.
On April 1, 2023 the ministry published a gazette notice outlining the registration process. Many buying houses operate unregulated in the country, and the government has no idea how many companies are involved, according to Bangladesh Garment Buying House Association president Kazi Iftequer Hossain, who spoke to a Dhaka-based English-language daily. According to the association, there are over 1,200 buying houses in the country, with approximately 400 of them being members. Ten buying houses have been registered since April 1st of this year.
In summary, there are three major steps that must be taken in order to establish a Buying House in Bangladesh, which are as follows:
Establishing a Business in Bangladesh (i.e. Limited Company, Partnership or Proprietorship, Branch office or liaison office)
Register with the Textile Department (DoT)
Obtain the necessary licenses and memberships.
Step-by-step instructions for establishing a Buying House
What are the procedures for establishing a buying house in Bangladesh?
Step one: Applying for the Name clearance
To begin, a unique selected name must be approved by Joint Stock Companies and Firms before forming a private limited company (RJSC).
Time:
The certificate is usually delivered within 1 to 2 days.
Cost:
The government fee for Buying house name clearance is currently 230 BDT (3 USD including VAT).
Step 2: Create an MOU and an AOA.
A limited company's Memorandum of Association (MOA) essentially includes the company's objectives. You can include as many objectives as you want. The Articles of Association (AOA), on the other hand, are the company's constitution. An AOA contains all of the rules for how a limited company will operate as well as the company's Managing Director, Chairman, and so on.
Time for drafting:
We can draft the MOA and AOA within the same day, if we have all the necessary information. Fast and efficient client service is always the priority of Tahmidur Rahman Remura.
Step 3: Open a bank account (for foreign nationals or entities)
When it comes to opening a bank account, there will be a distinction between foreign nationals/entities and Bangladeshi nationals.
Bank Account Documents Required:
a photocopy of the certificate of name clearance
AOA and MOA drafts
Passport photocopy (application for foreign nationals)
Following receipt of the aforementioned documents, the bank will open a provisional account in the company's name.
Time:
In Bangladesh, opening a bank account takes one working day.
Step 4: Deposit your share money (for foreign nationals or entities)
Following the opening of the provisional bank account, a share money deposit will be sent from the foreign shareholder's country to the provisional account. Following that, the bank will issue an encashment certificate.
Step 5: Registration in RJSC
Following receipt of the encashment certificate, a few documents, including the AOA, MOA, and encashment certificate, as well as all other necessary information, must be submitted to the RJSC. RJSC will generate an invoice to be paid to the recognized bank after receiving all necessary documents and information.
a). Documents needed:
MOA and AOA
Certificate of Encashment
Name, parents' names, passport number, email ID, and mobile number of directors
Managing Director's Name Chairman's Name
NID (if Bangladeshi national) (if Bangladeshi national)
TIN (if Bangladeshi national) (if Bangladeshi national)
Paid-up capital limit
authorized capital limit
All shareholders' photos (1 copy)
Signatories to the bank account's address
b) Document filing fees to RJSC: The registration filing fee is BDT 1200 (one thousand and two hundred taka).
c) The government registration fee is determined by the company's authorized capital. If the authorized capital is 50 lakh, the government fee is BDT 13570 (thirteen thousand five hundred and seventy takas) or USD 160 (one hundred and sixty takas) plus 15% VAT.
d) Incorporation certificate: After receiving all of the aforementioned documents, RJSC will verify all of the information contained in the AOA and MOA, as well as the encashment certificate, with the bank. After reviewing all of the information, the RJSC will issue an incorporation certificate in the company's name. The formation of a limited company is complete at this point. However, in order to do business in Bangladesh, a few other requirements must be met.
Step 6: Obtain a Tax Identification Number (TIN) for Buying house in Bangladesh.
Following receipt of the incorporation certificate, you must apply to the National Board of Revenue (NRB) for a tax identification number. Following receipt of the application, a tax certificate in the name of the company will be issued.
Step 7: Obtain a business license for Buying house in Bangladesh.
To obtain a trade license, an application must be submitted to the relevant city corporation. This is necessary in order to conduct business in Bangladesh. a). Documents: Along with the application, the following documents must be submitted: AOA and MOA photocopies TIN Rental agreement Photo of the company's managing director or chairman The nature of the business b). Time A trade license usually takes 3–4 working days to obtain.
Step 8: Certificate of Value Added Tax (VAT)
To conduct normal business operations in Bangladesh following the formation of a private limited company, the company must have a unique Business Identification Number (BIN). Companies must therefore have a VAT registration certificate in order to obtain a Business Identification Number. The National Board of Revenue's Customs, VAT, and Excise Department regulates VAT (NBR). It is free to apply for VAT registration.
a). Documents:
TIN Import/Export License Certificate Certificate of Registration
Memorandum and Articles of Association for BOI Registration
Every private limited company is required to pay VAT on the 15th (fifteenth) of each month. To learn how to open a branch office in Bangladesh, click here, and to learn how to open a liaison office, click here.
Register with the Textile Department (DoT).
All buyers' houses in the country must be registered with the Textile Department. As a result, once a company is formed, it must register with the DoT. The following documents must be submitted to the DoT for registration:
a) Documents and information:
Registration letter to the Director General of the Department of Transportation:
Certificate of Incorporation, Memorandum of Association, and AoA
Annual revenue projections
Membership certificate from a relevant commercial association (for example, BGBA or BGME) (attested copy)
The registration fee is payable by bank draft.
bank's certificate of solvency
b) Registration fee:
The registration fee is BDT 20,000 (twenty thousand takas only) and must be deposited with the appropriate bank.
c) Form of application:
For your convenience, the application form for registration with the DoT is attached below.
d) Registration Process:
Temporary Registration Certificate: Once the primary and main documents are submitted to the DoT, the authority can issue a temporary registration certificate. However, the temporary certificate's validity period will be 60 (sixty) days from the date of issue, after which it will expire automatically. As a result, all of the above-mentioned documents must be submitted within 60 (sixty) days. It should be noted that a temporary registration certificate will only be issued once to a purchasing house.
Registration certificate:
Once all of the above-mentioned documents are submitted to the authority within 60 days of the temporary registration certificate's issuance, the documents will be inspected. Following that, the authority will issue the registration certificate within 60 (sixty) days of receiving all of the documents.
e). Certificate validity:
The registration certificate is good for three years.
f) Registration certificate renewal:
It should be noted that you must apply for registration certificate renewal at least 60 (sixty) days before its expiration date. To apply for renewal, submit an application in the appropriate form along with the required documents to the Director General of the DoT.
The following documents must be submitted for renewal:
a business license (copy attested)
Certificate of Income Tax (attested copy)
Certificate of membership in a relevant commercial association (e.g., BGBA or BGME) (attested copy)
Export data from the previous year
For the renewal fee, a bank draft pay order is required.
Following inspection of the aforementioned documents, the authority will issue a new registration certificate within 30 (thirty) days of receipt. This will be valid for another three years.
g) Renewal Fee
The government fee for renewing a registration certificate is BDT 5,000 (five thousand takas only), which must be deposited at the appropriate bank.
Licenses Required
The following licenses are required :
Certificate of Export Registration (ERC)
Certificate of Registration for Import (IRC)
Chamber of Commerce membership
BGMEA membership
Process of Running a buying house in Bangladesh:
SL No.
Process
Job
01
Contact with the buyer
At first, the clothing merchandiser contacts the buyer and collect the order from them.
02
Placement of order in the factory
Here, should search for a qualified factory according to the buyer’s demand for placing that order.
03
Consumption
Garments Merchandiser makes all the consumption according to the buyer’s specification.
04
Costing
Prepare actual costing sheet and approved by the buyer.
05
Making & approval of product develop sample
Make product development sample (Proto, Fit, SMS, etc) and approved by the buyer.
06
Received master L/C from the buyer
Here, the garments merchandiser must collect a master L/C copy from the buyer as an order approval and pass it to the buying house commercial team.
07
Provide Back to back L/C to the suppliers
The commercial team forwards the Back to back L/C copy to the suppliers for in-housing necessary raw materials.
08
Follow up the production
Here, the garments merchandiser collects the regular production update from the factory.
09
Online inspection by buyers Q.C
In the meantime, an online inspection has to be completed by the buyer nominated Q.C.
10
Final inspection
Final inspection has done here by third-party Q.C or as order contract specification.
11
Complete all the documents for shipping
Here, the Buying house commercial team makes ready all the necessary documents or papers for shipping the goods.
12
Shipping the goods
Finally, all the goods are shipped here containing necessary documents.
13
Contact with bank
The commercial team contacts the bank for order payment here.
14
Payment received
Finally, the payment received from the bank.
Are you planning to register a private limited company in Bangladesh?
Company formation and registration at Tahmidur Rahman Remura: The Law Firm in Bangladesh:
The legal team of Tahmidur Rahman, TRW Law Firm in Bangladesh: The Law Firm in Bangladesh are highly experienced in providing all kinds of services related to forming and registering a Private Limited Company in Bangladesh . For queries or legal assistance, please reach us at:
E-mail: info@trfirm.com Phone: +8801847220062 or +8801779127165
