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How to take Foreign loans in Bangladesh in 2023 | How to effectively process Overseas Financing for Bangladeshi Companies | Pioneering Bangladesh

How to take Foreign loans in Bangladesh in 2023 | How to effectively process Overseas Financing for Bangladeshi Companies | Pioneering Bangladesh

How to take foreign loans in Bangladesh in 2023 | Step by step process of getting loan from foreign entities

11 Jan 2023

Best Advocate Lawyer Barrister In Bangladesh

Tahmidur Rahman, Director and Senior Associate

This post will explain in details about Overseas Financing & Foreign loans for Bangladeshi Companies- How to take foreign loans in Bangladesh in 2023 . Here in this post we explain the Procedure & Guidelines for the required approval of foreign loans by Bangladeshi Companies.

Table of Contents

Find the subsections below, If you want to jump through specific sections instead of reading the whole article.

Foreign Loans

Overseas Financing by Bangladeshi Companies 

Over the last decade, obtaining a foreign loan by Bangladeshi entities or companies, have increasingly become a routine occurrence. Bangladeshi companies choose international loans for a variety of reasons, including lower interest rates and the ability to borrow a big sum from a single lender.

The Government of Bangladesh has been enabling foreign borrowing legally approved by the Scrutiny Committee in order to attract foreign investment in the private sector through simpler long-term financing of industrial projects at lower cost of funds and to relieve strain on foreign currency reserves.

How To Take Foreign Loans In Bangladesh 2023%20 Overseas Financing For Bangladeshi Companies The Most Complete Guideline For Foreign Loans Best Banking Law Firm In Bangladesh

Obtaining  foreign Loans in Bangladesh in 2023

In 2023 , Short-term loans from parent corporations and shareholders are now available to foreign-owned service companies as operating capital. Overseas-owned enterprises operating in Bangladesh now have more flexibility in receiving foreign loans according to the Bangladesh Bank.

According to a notice released by the central bank’s Foreign Exchange Policy Department, foreign-owned service companies can now obtain short-term loans as working capital from their parent companies and shareholders for essential business needs (FEPD).

Previously, such loans were exclusively available to foreign-owned industrial businesses that participated in manufacturing. Such loans were not available to service or trading enterprises. However, service businesses can now take out such loans as well.

The central bank further stated that such a loan might be available in convertible foreign currencies for a maximum of six years from the start of manufacturing and/or service output operations, with the opportunity to renew or extend the term during that time. Borrowing businesses may pay interest at a maximum of 3% per year until additional instructions are issued, with all other relevant transaction directions remaining intact.

 What are the usual requirements to borrow?

Though each foreign lender has its unique set of criteria, the following is a summary of some of the most frequent requirements that a company may be expected to meet before acquiring the foreign loan.

 

  • Borrower possesses the necessary licences and permits to operate its business.
  • The borrower’s business records are up to date.
  • Borrower is a firm that is conscious about the environment.
  • All industry standard certifications have been obtained by the borrower (e.g. ISO certification).
  • Borrower is a company that follows all labour laws.
  • The borrower or the project has proper insurance.
How To Take Foreign Loans In Bangladesh 2023 _ Overseas Financing For Bangladeshi Companies_ The Most Complete Guideline For Foreign Loans_ Best Corporate Law Firm In Dhaka

Step by Step requirements and all the possible documents that you may need

When the documents are issued, they will be thoroughly reviewed by the BIDA Inter-Ministerial Committee. When the committee is content with the verification then they may give the approval or can obtain additional documentation. Hence it is important to carefully prepare the papers.

 

  • The Company’s Board of Directors approval for the proposed foreign loan.
  • Copy of the most recent BIDA registration form, duly attested by a First Class Gazette officer;
  • Original copy of the parties’ Loan Agreement; (For the lender, a copy of the detailed repayment schedule; original copy of the grade period;)
  •  CIB Inquiry Forms 1&2 duly completed, as well as an undertaking from its Sponsors or Directors;
  • Sponsors’ or directors’ credentials;
  • The company’s and its sponsors’ CIB certificates;
  •  Record of previous foreign loans/deferred payments (if available);
  • Audited previous year’s balance sheet;
  • Utilization Certificate from nominated bank;
  • Latest company credit rating report;
  • Latest financial analysis 
  • Updated feasibility report of the proposed project in detail;
  • Form-X, Form-XII and Form-XV from RJSC&F;
  • Certificate of Incorporation of commencement;
  • Memorandum & Articles of Association;
  • Proforma Invoice or Price Quotation (where applicable);
  • Original copy of the Bank Solvency Certificate;
  • Descriptive statement of the use of the loan;
How To Take Foreign Loans In Bangladesh 2023 | Overseas Financing For Bangladeshi Companies| The Most Complete Guideline For Foreign Loans_Best Company Law Firm In Dhaka

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Criteria for foreign borrowing

Foreign lenders typically conduct extensive due diligence on the borrower. Financial due diligence is typically performed by the lender; however, for technical, environmental, and legal due diligence, the lender may hire external consultants. The borrower will be responsible for the costs of these consultants.

The lender may require the borrower to appoint a process agent in the country of its choosing,  an auditor affiliated with an international auditing firm; and a compliance manager. The auditor and compliance manager may require a timely report to be submitted directly to the lender following disbursement.

Other Relevant Criterias for Foreign Loans

i. Debt-to-equity ratio: The debt-to-equity ratio based on anticipated borrowing should be kept to a bearable level. While relatively higher debt levels may be warranted for long gestation infrastructure projects, total debt including the proposed borrowing should not breach 70:30 debt equity ratio even for these projects;

ii. Liabilities to the Government: There should be absolutely no liability to the government, either in Taka or in foreclosed property.

iii. Status of implementation and utilization report of authorized foreign borrowing: On a semi-annual basis, the borrowing firm must submit to the BOI the status of implementation and utilization report of the approved loan in the specified format.

iv) If capital machinery and equipment to be bought: Quality, price, and economic life; The capital machinery and equipment to be procured with the proposed borrowing should either be brand new or, if refurbished, have a sufficient useful life as specified by the Government’s Import Policy Order.

v) Validity of the approval: The Scrutiny Committee’s approval of foreign borrowing is valid for 6 (six) months from the date of the BOI’s permission letter. 

Vi) Common Terms:
a) The borrowing firm must follow Bangladesh Bank’s laws and regulations on the use and repayment of the loan, as well as the interest thereon.

Foreign Loans In Bangladesh

What are the due dilligence you may expect from your foreign lenders?

Foreign lenders typically conduct extensive due diligence on the borrower. Financial due diligence is typically performed by the lender; however, for technical, environmental, and legal due diligence, the lender may hire external consultants. The borrower will be responsible for the costs of these consultants.

The lender may require the borrower to appoint a process agent in the country of its choosing,  an auditor affiliated with an international auditing firm; and a compliance manager. The auditor and compliance manager may require a timely report to be submitted directly to the lender following disbursement.

How to get the BIDA Clearance for Foreign Loan in Bangladesh

After obtaining the prescribed application from BIDA, the applicant must submit the aforementioned documents, along with the applicable licence fee, to the Security Committee of Bangladesh Bank for review. If the committee grants clearance after reviewing the submitted documents, BIDA will grant the loan in accordance with their recommendation.

The official time limit for such a process will be entirely dependent on the Borrower for document collection and, to a lesser extent, on the Scrutiny Committee to conduct the meeting, and the fee schedule for approval will be tentatively between BDT 5k and BDT 100k depending on the amount of lending.

How to get a Trade License in Bangladesh?

Click here and go to the post, Tahmidur Rahman speaks in details about Trade License in Bangladesh | Fees, Processing and Renewal!

Regulatory Permissions from Bangladesh Bank and Board of Investment (BOI).

 

Foreign loans with a term of less than a year require Bangladesh Bank’s prior authorization. The Board of Investment must authorize all other foreign loans (including supplier credits, financial loans from institutions or individuals, and debt issuance in international capital markets) (BOI).

Borrowers in special economic zones, such as the EPZs, are eligible for certain concessions (Export Processing Zone).

It normally takes three to six months for the BOI to approve the application. The loan must be applied for using a stipulated application form, which, along with accompanying documentation, must clearly state the loan’s purpose and planned usage by the borrower, as well as the repayment schedule with dates and amounts, and interest payment dates and amounts.

The following documents must be supplied with the application as supporting documentation:

  • The term sheet, facility agreement, and security documents are all part of the loan documentation. These may be submitted in draft form:
  • The borrower’s corporate documents, such as the memorandum and articles of association; resolutions of the borrower’s Board of Directors approving the foreign loan on the terms and conditions reflected in the loan documentation and the application;
  • If the loan is to be used to import any equipment, a pro-forma invoice for that equipment;
  • Report covering key financial and commercial matters in in respect of the loan and related project.

Foreign loans from Multilateral Development Banks

Each of the major Multilateral Development Banks, including the Asian Development Bank and the World Bank, has a Commercial Liaison Office run by the Commercial Service.

These financial organizations lend billions of dollars to initiatives in developing nations like Bangladesh that aim to boost economic growth and social development by decreasing poverty and inequality, increasing health and education, and expanding infrastructure development.

The Commercial Liaison Offices assist American firms in learning how to participate in bank-financed projects and lobby on their behalf.

How To Take Foreign Loans In Bangladesh 2023 | Overseas Financing For Bangladeshi Companies| The Most Complete Guideline For Foreign Loans_Best Transactioanl Law Firm In Bangladesh.

General Questions that people ask about Foreign Loans in Bangladesh

 

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.

Company Law practice in TR Barristers in Bangladesh 

The Barristers, Advocates, and lawyers at TRW Law chamber in Gulshan, Dhaka, Bangladesh are highly experienced at assisting clients in dealing with and registering branch offices in Bangladesh.   For queries or legal assistance to set up a branch office in Bangladesh, please reach us at:

E-mail: [email protected]
Phone: +8801847220062 or +8801779127165 or +8801708080817
House 410 Road 29 Mohakhali DOHS

 

How To Take Foreign Loans In Bangladesh 2023 _ Overseas Financing For Bangladeshi Companies_ The Most Complete Guideline For Foreign Loans_Best Company Law Firm In Bangladesh

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How to open a Liaison office in Bangladesh – Liaison office formation in 2020

How to open a Liaison office in Bangladesh – Liaison office formation in 2020

How to open a Liaison office in Bangladesh –Registration and Incorporation Procedure of Liaison office in Bangladesh

Tahmidgoldenpicturebackground E1569742859700

Tahmidur Rahman

Senior Associate, TR Barristers in Bangladesh

2 Feb 2020

This post in details will explain in details about the process of opening a liaison office in Bangladesh, the process of getting permission from BIDA, time period of the validity of the license, Bank Account opening, Bangladesh bank approval and everything in regards to registering a Liaison office in Bangladesh with infographics and diagrams.

 

 Liaison Office registration in Bangladesh

Businesses wishing to develop a presence in Bangladesh without carrying out operations within the country immediately are called liaison offices or representative offices.

A liaison office must take approval from the Bangladesh Investment Development Authority (BIDA) for the establishment of the Bangladesh Liaison Office.

Liaison office and Branch office are almost similar. But a liaison office in Bangladesh can not perform any business or income-earning activities.

But a Branch Office can do so with proper authorization. If you would like to know how to set up a branch please click here. On the other hand, in Bangladesh, a limited company or a subsidiary can do full-fledged business through proper incorporation.

 

Liaison Office In Bangladesh

If you want to know everything about Branch office registration in Bangladesh!

Basic requirement of registering a Liaison office in Bangladesh?

Companies wishing to set up a Liaison Office must fulfill the following basic requirements:

  • It’s a foreign company registered outside Bangladesh that wants to set up Liaison Office.
  •  The name of the Liaison Office shall correspond to the name of the international company.
  • Shareholders, the structure of the corporation and its operations shall be regulated by the Memorandum and Articles of Association of the international company. For the Liaison Office, there is no separate Agreement and Articles of Association.
  • The Liaison Office must have an email address in Bangladesh.
  •  The Liaison Office would not have a local source of income in Bangladesh.
  • Establishment and maintenance expenses shall be met by the parent company abroad.
  • The bank account
  • USD 50,000 or equivalent as projected initial establishment costs and 6(six) months operating costs of the Liaison Office shall be charged as inward remittances to Bangladesh within 02(two) months from the date of issuance of the BIDA permission letter.
  •  Other business licenses such as industrial license, tax registration (ETIN) and so on.
  • The registration fee for BDT 25.000.
  •  Registration with the Board of Joint Stocks in Bangladesh.
  •  Job visas for foreign workers.
  • Branch which carries out commercial activities shall pay corporate income tax and comply with sales VAT.
  • Other tax and VAT (GST) laws, such as withholding like tax & VAT, return submission etc., must be complied with, irrespective of the activities of the Branch.
Best Company Formation In Bangladesh_Liaison Office In Bangladesh

How to register a Liaison Office in Bangladesh – Step by Step process

On the basis of funding, we can further extend the scope of NGOs, such as locally sponsored, government-funded, foreign The information provided below offers a comprehensive step-by – step method for setting up a branch or liaison office in Bangladesh.

In the meantime, it is important to notice that the approval of the Bangladesh Investment Development Authority (BIDA) is the primary prerequisite for the establishment of a branch or liaison office in Bangladesh.

Step one: Obtaining Permission from BIDA for setting up a Liaison office in Bangladesh

Permission from the Bangladesh Investment Development Authority (BIDA) is required to set up a Liaison Office. Now, what needs to be done to get permission from BIDA?

The foreign investor will be expected to submit an application in the specified form along with the documents mentioned below. It should be noted that the documents must be accredited by the Bangladesh Embassy / High Commission of the country of origin or the Top Chamber of Commerce of the country of origin.

Required Documents for the permission from BIDA

  1. Application in prescribed form signed by the authorized person for establishment of branch/liaison/ representative office – 4 copies. 
  2. Memorandum of Association and Articles of Association of the principal Company;
  3. Incorporation Certificate of the principal Company;
  4. Nationalities and name of the directors/promoters of the principal Company;
  5. A board resolution for opening a Liaison office in Bangladesh;
  6. Last financial year’s audited accounts of the principal company;
  7. Projected organogram of the office viewing the posts to be occupied by local personnel as well as expatriates;
  8. List of activities on the Company letterhead of the proposed Liaison office in Bangladesh.

Government Cost for Permission

A fee of BDT 25,000 (Twenty-five thousand) is expected to be paid by bank payment order and the original copy of the payment order must be sent to BIDA to get the permission for opening the Liaison office in Bangladesh.

Registration procedure and approval timeline for the Liaison office

All records should be sent to BIDA on a physical basis. You can also apply online via the BIDA website. After careful examination of all records, the BIDA officials shall send the application and records to the Inter-Ministerial Committee.

The Committee may review the documentation and can request further documentation or a physical presentation. If the committee is pleased, the approval will be given for the Liaison office in Bangladesh. The Inter-Ministerial Committee normally sits twice a month. Usually the duration is one month or less.

Usually, permission is given to the opening of a branch or liaison office initially for a term of 3 ( three) years, which can be extended later.

Liaison Office In Bangladesh_Best Law Firm In Bangladesh_Tahmidur Rahman

Step two: Opening a Bank account for the liaison office in Bangladesh

In regards to opening a Liaison office in Bangladesh, A bank account must be opened at any bank in Bangladesh after obtaining the approval from BIDA.

The bank account is required at this stage because a sum of foreign exchange equal to US$ 50,000 (fifty thousand dollars or more) must be transferred to Bangladesh as an inward remittance. This must be achieved within 2 ( two) months from the date of the issuing of the BIDA authorization.

Step three: Obtaining the approval from the Bangladesh Bank (Central Bank)

The Foreign Exchange Regulations Act 1947 has recently been (2015) amended by the Bangladesh parliament. Bangladesh Bank’s criteria for 18B Approval was withdrawn.

Under the amendment, within 30(thirty) days of receiving permission from the Bangladesh Investment Development Authority, the Branch Office or Liaison Office or Representative Office will have to report to the Bangladesh Bank. We will update this section once any notification to that effect is released by Bangladesh Bank in regards to Liaison office in Bangladesh.

In addition to that since the amendment, the government or the Bangladesh Bank will be able to request that any individual residing in Bangladesh return their holdings of foreign exchange, foreign securities, any immovable property or industrial or commercial undertaking or company held, operated, founded or managed by that individual outside Bangladesh.

If you want to know how to open a company in Bangladesh or about company formation click here!

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Step Four: Registering the Liaision office with the RJSC 

After obtaining approval from both Bangladesh Bank and BIDA, registration with the RJSC is required. The following documents will be required for this purpose:

  1. BIDA Letter of Approval.
  2. Bank of Bangladesh letter of approval.
  3. Certified copy of the company memorandum and articles of associations, or other statutory records.
  4. Complete address of the company’s registered office or principal office.
  5. A list of the company’s directors, and secretary, if any.
  6. The name and address or the names and addresses of one or more persons residing in Bangladesh, allowed to accept company service of process on behalf of the company and any notices or other documents necessary to be served on the company.
  7. The full address of the company’s office, which is to be considered as the main place of its business in Bangladesh.

What is the scope of a Liaison office in Bangladesh

A Liaison Office in Bangladesh would only be allowed a very small operation to be carried out, as the Liaison Office it will have the right to carry out feasibility studies, market analysis to determine the quality of the targeted product , customer service and to supervise the activities of local agents. They may also provide customer service and supervise the activities of local officers.

In most situations, the Liaison Office serves as a liaison between the main office and any other company located in Bangladesh that it plans to negotiate with when the time comes.

Liaison Office In Bangladesh_Top Law Firm In South Asia

Limitations of a Liaison office in Bangladesh

Since a Liaison Office in Bangladesh is not legally a corporate organization, it is not authorized to carry out any profit-making operations. Examples of such activities include entering into a strictly binding contract, leasing space for other businesses , providing technical services, issuing receipts, and even ship / store goods without a local agent in Bangladesh.

No outward remittances of any kind from Bangladesh sources shall be permitted except for the unexpended amount brought from the parent company abroad.

“In most situations, the Liaison Office serves as a liaison between the main office and any other company located in Bangladesh that it plans to negotiate with when the time comes.” 

Tahmidur Rahman_ Liaison Office In Bangladesh_Best Law Firm In Bangladesh

Frequently Asked Questions about Liaison office in bangladesh

In regards to Liaison in bangladesh people also ask these questions frequently, hence this FAQ content block is dedicated to answering your questions.

NGO and INGO registration at Tahmidur Rahman TRW:

The legal team of Tahmidur Rahman, TR Barristers in Bangladesh TRW are highly experienced at dealing with company matters along Liaison office set up process, and branch office registration in Bangladesh . For queries or legal assistance, please reach us at:

E-mail: [email protected]
Phone: +8801847220062 or +8801779127165

Address:

 

FAQ

What is a liaison office in Bangladesh?

The liaison office of a foreign company is permitted to function in Bangladesh only on a limited basis, provided that none of the operations is profit-making.

In other words, a liaison office will perform market analysis and representation activities only. Click to see the List of Approved Activities for the Bangladesh Branch Office.

What are the permitted activities for a Liaison office in Bangladesh of a foreign entity?

The liaison office of a foreign company is permitted to function in Bangladesh only on a limited basis, provided that none of the operations is profit-making. 


In other words, a liaison office will perform market analysis and representation activities only. Click to see the List of Approved Activities for the Bangladesh Branch Office.

What is Income Tax rate for a Liaison office of a Foreign Company?

The Liaison Office of a foreign parent company shall not be regarded as a separate and independent body in Bangladesh and, for all tax purposes, the Government of Bangladesh shall tax the income of such entities at higher rates.

What are the conditions of opening a Liaison office in Bangladesh?

Liaison or representative office of a foreign company can be opened if the applicant foreign corporation has had a record of profit generation for the past 3 years and is financially sound. 


When we say that a foreign company is financially sound in the sense of a representative or liaison office in Bangladesh, we mean a net worth of USD 50,000 or its equivalent. The financial statement properly certified by the statutory auditor of the parent company is required.

What are the additional incorporation requirements for opening a Liaison office in Bangladesh?

  • A certified copy of the charter,
  • laws or memorandum and articles of the corporation or other instrument constituting or specifying the company's constitution and,
  • if the instrument is not in the English language, a certified translation thereof into the English language;
  • the full address of the company's registered office or head office;
  • the list of directors and secretary of the company's contents;
  • The full address of the company's office in Bangladesh, which is considered to be its principal place of business in Bangladesh;
  • Specifics of opening and closing a business premises in India on earlier occasions or occasions;
  • a declaration that none of the company's directors or the approved representative in Bangladesh has ever been convicted or removed from the creation of companies and management
  • and any other information as may be prescribed.

Can a liaison office or a branch office be considered a legal entity?

The Branch or Liaison Office is a legal body that has been registered with the BIDA in Bangladesh. It is called a multinational business extension, and not a separate legal entity.

Unlike a subsidiary of Bangladesh, the parent company of the Branch or Liaison Office is indirectly responsible for all debts and liabilities of the Branch or Liaison Office.

Can foreigners set up a Liaison or branch office in Bangladesh?

There are no restrictions on foreign nationals being a Bangladeshi company director, shareholder, or a secretary. 

You even do not have to live in the Bangladesh for the formation.

Who bears the operating expense of a Liaison office in Bangladesh?

All expenses for setting up a Liaison Office and operating it are basically borne by the parent company which is established abroad.

Does the Liaison office needs an office address in Bangladesh?

The general requirement is that, a Branch or a Liaison Office must have an office address located in Bangladesh.

What are the five steps of a Liaison Office Registration in Bangladesh?

1. Apply to BIDA for authorization to open the Liaison Office.
2. Receive the permission.
3. Open a corporate bank account.
4. Bring   USD 50,000 for starting-up the liaison office and running costs for at least six ( 6 )months.
5. Apply to the RJSC to register.

What is the timeline of a Liaison office approval in Bangladesh?

  • 30-45 days need from application date
  • As one meeting hold once in month, sometimes 2 meeting holds when more applications are submitted
  • Additional time or second meeting might need if application is rejected for lack of papers
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Author’s Bio
Tahmidur Rahman | Law Firm in Dhaka, Bangladesh

Tahmidur Rahman is a trained Engineer and one of Bangladesh's most innovative young Barristers. He is regarded as one of the country's sharpest young legal experts.

He is academically qualified Legal Professional (BA LLB) and CS Engineer (BSc CSE- concurrently pursued four different majors at two different universities) with experience structuring and negotiating complex business transactions such as company formations, registrations, mergers, acquisitions, leveraged buyouts, syndicated loans, and acquisition financings.

For the past several years, I've been counseling corporations, investors, and banks on a wide range of capital markets products and financial restructurings, particularly in cross-border settings in rising South Asian markets. I like assisting clients in resolving complicated financial structure difficulties, dealing with difficult market conditions, and navigating Bangladeshi legislation, regulation, and disclosure requirements.

As one of the the leading law firms in Bangladesh, Tahmidur Rahman Remura Wahid chamber aligns its way to consistently exceed the legal expectations from its revered local and International clients. Voted as the best Banking law firm in Bangladesh by ACQ, best Commercial law firm in Bangladesh by FT and best Company law firm in Bangladesh, in 2023 by several world class publications and databases, TRW law firm in Bangladesh is also considered as one of the best multi-disciplinary full service law firm in Dhaka, Bangladesh.

The law chamber functions as a group of many leading practicing lawyers who work together to represent TRW's clients and have so far achieved an outstanding overall success rate in both litigation and commercial matters. The Lawyers and Barristers are working as partners, associates and paralegals of Tahmidur Rahman|TRW- Law Firm in Dhaka, Bangladesh.

They are highly trained and exceptionally qualified with both local and international credentials and skills. The current Managing Partner, Barrister Abul Hashem has the experience of practicing in the Supreme court of Bangladesh for more than 15 years and was educated in England and was also called to the Bar of England & Wales as Barrister of the Honourable Lincoln's Inn Society. Partners and partners have extensive experience and skills in their respective fields of practice, ranging from Admiralty, Writ Matters, Business, Criminal and Private Law, Finance Law, Information Technology Law, Investment Law, Intellectual Property law, Divorce & Family Practice.

The head office of the law firm is situated in the Gulshan 1 circle of Dhaka, which is considered to be the financial center of Bangladesh. The firm is strategically situated close to Gulshan 2 & Banani Commercial Areas and is easily accessible from Uttara, Dhanmondi, Bashundhara Residential Area and Badda. The firm works in compliance with strict ethical principles and maintains international standards in the handling of its business.

Tahmidur also gained broad experiences in antitrust, consumer protection, and general litigation matters, with particular experience in FTC investigations, private antitrust litigation and class actions. Within short span of formation, Tahmidur also served several national and multinational corporations which includes Team Group Plc, Seecen International Ltd., Diplomate Resorts Plc, Cloudcone Technology PTE Ltd., Benaul the Piper etc.

TRW as a firm also defends corporations in a wide variety of industries, including pharmaceutical and technology companies. Despite this exponential growth and proliferation of clients, the managing partner still constantly maintaining the firm’s grounded approach and making sure the members of ‘Tahmidur Rahman Remura’ maintain a contiguous and helping hand towards its clients of all norms.

Email: [email protected]

Address: Jamilla Villa (4th Floor Flat No-C2 House 4/A/1 Road no: 2, Gulshan 1, Dhaka, 1212, Gulshan, Dhaka, 1212, Bangladesh

Gender: Male

Job Title: Senior Associate and Director

Have a Different Question?

Email us anytime : [email protected]

Or call — +8801847220062 or +8801779127165

Procedure of Foreign Investment in Bangladesh | Law, Policy, Direct, Angel, Rules, Policy- Everything you need to know in 21st century

Procedure of Foreign Investment in Bangladesh | Law, Policy, Direct, Angel, Rules, Policy- Everything you need to know in 21st century

Procedure of Foreign Investment in Bangladesh 2020| Law, Policy, Direct, Angel, Rules, Policy- Everything you need to know about Foreign Investment in 21st century Bangladesh

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Tahmidur Rahman
 Director and Senior Associate, TR Barristers in Bangladesh

17 Jan 2020

Procedure of foreign investment in Bangladesh: Leading up to initiating a major investment , investors needs to navigate the basic legal policies on investment law in Bangladesh. Bangladesh is one of the easiest countries in the world to do business with straightforward regulation, a well-respected legal system and low entry barriers. Entrepreneurship is also massively respected and encouraged in the country.

Despite this welcoming atmosphere and a lack of red tape, difficult choices and decisions need to be taken at an early stage, and this article describes everything you need to know about the Procedure of foreign investment in Bangladesh.

Foreign Investment Policy in Bangladesh & Procedure of foreign investment in Bangladesh

 

The Government of Bangladesh has put in place a wide range of policies aimed at bringing substantial socio-economic changes to the citizens of Bangladesh and, eventually, self-reliance to the country, which would in turn pave the way for seamless procedure of foreign investment in Bangladesh.

In recognition of the capacity of the private sector to contribute to the achievement of these objectives, the government has recently initiated a number of major policy reforms, which are planned to create a more transparent and competitive environment for foreign investment in Bangladesh.

In order to achieve the goal of accelerating industrial growth and increasing the share of industry in the Gross Domestic Product ( GDP) and to make industrial policy sensitive to changes in the global economy, the current government announced an Industrial Policy in 1999. 

 The core characteristics of the 1999 industrial strategy are as follows: 

  • To draw foreign direct investment in Bangladesh,  both export and domestic market-oriented industries to compensate for the lack of domestic investment opportunities and to acquire emerging technology and to gain access to export markets, so that the Procedure of foreign investment in Bangladesh bangladesh gets even easier.
  • To ensure the sustainable growth of industrial jobs by promoting investment in labour-intensive manufacturing sectors, including investment in productive small and cottage sectors.
  • Diversifying and increasingly increasing the production of manufacturing.
  • Coordinate economic and fiscal policies to inspire a growth in foreign investment in Bangladesh.
  • Promote the competitive strength of import substituting industries for catering to a rising domestic market.
  • To increase the production base of the economy by increasing the pace of industrial investment to ease the procedure of foreign investment in Bangladesh .
  • Promote the private sector to drive the development of industrial production and investment and making the Procedure of foreign investment in Bangladesh way easier.
  • Emphasis on the role of the government as a facilitator in creating an enabling environment for the expansion of private investment and the procedure of foreign investment in Bangladesh.

Investment Structures in Bangladesh and Procedure of foreign investment in Bangladesh

Bangladesh offers generous opportunities for investment under its relaxed Industrial Policy and export-oriented, private sector-led growth strategy. Except for the previously stated reserved sectors, foreign investors are free to make investments in Bangladesh in industrial enterprises.

In regards to Procedure of foreign investment in Bangladesh, Foreign companies wishing to do business or establish a presence in Bangladesh have a number of options.

1.  Foreign Direct Investment in Bangladesh

FDI (foreign direct investment in Bangladesh) in industrial or construction projects must be registered with the Bangladesh Investment Development Authority (BIDA).

BIDA, formerly known as the Investment Board, was formed by the Bangladesh Investment Development Authority Act 2016 to deal with issues related to FDI and to promote investment in Bangladesh.

The foreign direct investment (FDI) inflow at the end of June 2018 amounted to USD 2.58 billion (foreign investment in Bangladesh stats, Bangladesh bank).

The Bangladesh Investment Development Authority (BIDA) announced an impressive 13.34% rise in FDI in the third quarter of 2018, receiving proposals worth USD 3.23 billion over the same period, suggesting strong interest on the part of foreign investors.

The key objective of BIDA is to encourage domestic and foreign investment as well as improve Bangladesh’s international competitiveness. BIDA also provides the necessary facilities and assistance for the establishment of industries.

In regards to the Procedure of foreign investment in Bangladesh, determining the route of investment usually depends on the specific sector and the policy of the FDI adopted by the Government in regards to foreign investment in Bangladesh. 

2. Wholly owned subsidiaries in Bangladesh

Foreign companies are allowed to create wholly-owned subsidiaries in Bangladesh. Such companies may be known as private limited or public limited companies. Foreign equity ownership can be up to 100% in most sectors, including construction, information technology and production.

Foreign entities can acquire an existing Bangladeshi company or incorporate a new company that complies with the requirements of the Registrar of Joint Stock Companies and Firms (RJSC). Subsidiaries are entitled to remit dividends reported on income after tax.

3. Joint Ventures in Bangladesh (Foreign Investment in Bangladesh)

As with wholly-owned subsidiaries, international companies can have joint venture companies with Bangladeshi partners. The equity ownership of a foreign corporation would depend on the sector in which it is invested.

Procedure Of Foreign Investment In Bangladesh.

If you want to know everything about Branch office registration in Bangladesh!

4. Setting up a Branch or Liasion offices in Bangladesh for foreign investors

International companies can also create a presence in Bangladesh through a representative office, liaison office or branch office for the purpose of foreign investment in Bangladesh.

Typically foreign companies that do not have local earnings in Bangladesh may choose to set up representative offices, liaison offices or branches.

The operations of these organizations are limited to those set out in their BIDA approvals and are subject to strict compliance with the foreign exchange regulations.

Generally, no outward remittance of any kind from Bangladesh is allowed unless expressly approved by the Foreign Exchange Regulations or the Bangladesh Bank.

fSuch offices are expected to pay inward remittances of at least USD 50,000 within two months from the date of establishment as a cost of establishment.

One of the requisite approvals for the establishment is that security clearance must be obtained from the Ministry of Home Affairs of the Government of Bangladesh. (foreign investment in Bangladesh)

5. Option of Participating in an existing Bangladeshi company by purchasing shares (procedure of foreign investment in Bangladesh.)

In regards to foreign investment in Bangladesh, Foreign investors are free to invest in local companies in Bangladesh unless expressly prohibited (as stated above).

Shares can also be given to foreign investors against capital machinery brought by them to Bangladesh (subject to confirmation by the Customs and Excise Office of the import documents, Procedure of foreign investment in Bangladesh).

If you want to know how to open a company in Bangladesh or about company formation click here!

Procedure Of Foreign Investment In Bangladesh

Right to Issue and Transfer Shares in Bangladesh – Procedure of foreign investment in Bangladesh.

 

There is no need for permission from the Bank of Bangladesh to set up such ventures if the entrepreneurs use their own funds. Prior approval of the Central Bank is not necessary for the issuance of shares in favor of non-residents against foreign investment in BD.

 

Shares may be issues relating to freely convertible foreign exchange brought in from abroad via the banking channel or to the importation of capital machinery or the combination of both.

 

Foreign exchange thus entered must be paid out in taka before the issuance of shares, except in the case of Type A (full foreign owned) and Type B (joint venture) units of EPZ and EZ, where FC ‘s foreign bright equity of be held in the FC accounts of the units concerned.

 

Transferring shares and securities in Bangladesh from one shareholder to another shareholder regardless of their nationality / residence does not require approval from Bangladesh Bank.

 

In the event of a transfer of private / public (non-listed) shares between resident-non-residents or vice versa, a general intimation to Bangladesh Bank is required by the Approved Bank within 14 days of such a transaction.

 

As there is no established marketplace for such investment in Bangladesh, Bangladesh Bank will accept fair value of the shares as on the date of sale based on a reasonable combination of three valuation approaches (NAV; Tahmidur Rahman RemuraV and DCF), depending on the nature of the company in regards to the Procedure of foreign investment in Bangladesh.

 

If you want to know everything about Share Transfer process in Bangladesh!

Foreign Investment In Bangladesh

Full Repatriation of Dividend, Investment and Income for foreign investors in Bangladesh.

It will enable complete repatriation of the capital invested from free sources in regards to the Procedure of foreign investment in Bangladesh. Profits and dividends accruing to foreign investment can likewise be transferred in full (Procedure of foreign investment in Bangladesh).

Those would be considered as new investment if foreign investors reinvest their reparable dividends and/or retained earnings. Foreigners living in Bangladesh have the right to remit up to 50 percent of their income and can enjoy facilities for complete repatriation of their savings and pension benefits. (Procedure of foreign investment in Bangladesh.) 

 

Laws for the Protection of Foreign Investment in Bangladesh

 

For a seamless procedure of foreign investment in Bangladesh, the government guarantees immunity from nationalisation and expropriation through the 1980 Foreign Private Investment Act that involves repatriation of capital and dividend for foreign investors.

In addition, to facilitate the Procedure of foreign investment in Bangladesh, Bangladesh has made ample legal provisions to secure intellectual property rights. In addition to the 1980 Foreign Private Investment Act , the government has developed an FDI Policy (Foreign Direct Investment Policy for the Procedure of foreign investment in Bangladesh), which supports easy but efficient investment mechanisms in Bangladesh.

 

The policy encourages the establishment of enterprises by simplifying the leasing and purchasing process of private property, forming an agency, enabling corporate tax holidays for 7 years (15 years in the power sector) and in some respects introducing an exemption of foreign employees’ income tax for up to 3 years.

 

 

 

Foreign Investment In Bangladesh_Trends In Foreign Investment In Bangladesh

Disputes Settlement in regards to the procedure of Foreign Investment in Bangladesh

In dispute cases alternative conflict settlement is possible under the 2001 Arbitration Act. The Bangladesh International Convention on the Recognition and Compliance of Foreign Arbitral Awards was signed. Bangladesh is also a member of International Centre for Investment Dispute Settlement (ICSID).

The new law also provides for the implementation without much hindrance of international arbitral awards. Although venturing in a company may be overwhelming, Bangladesh offers investors a safe and resourceful environment suitable for establishing or expanding any company, and it can be said that Bangladesh is in fact a “dream investment destination,” after much consideration.

 

Visa, Work Permit, Citizenship in Bangladesh (Procedure of foreign investment in Bangladesh)

For periods ranging from one month to five years prospective foreign investors may apply for visas. Foreign workers must get BIDA / BEZA / BEPZA work permit.

In an industrial organization the number of expatriate workers can not exceed the ratio of 1:20 (foreign: local) for industrial settings and 1:5 (foreign: local) for commercial establishments.

Citizenship in a scheduled bank may be subject to investment of USD 1 million or a fixed deposit of USD 2 million. Investors can also get ‘NO Visa Requirement’ exemption for investment of more than USD 10 million.

 

If you want to know more in details about Visa obtaining process in Bangladesh

“Tahmidur Rahman Remura Wahid Parnters is Considered as one of the leading Investment Law Firms in Dhaka, Bangladesh”

Carpe Noctem Bangladesh

Incentives offered to Foreign Investors in Bangladesh

Bangladesh is keen to boost the economy in a short time and turn the poverty-stricken economy into a developed one. Government investment strategy provides competitive stimulus packages to attract foreign investment. These incentives are updated annually and new incentives are announced, too.

These installations are subject to certain conditions and are issued by the BIDA. Moreover, Bangladesh gives international investors citizenship, permanent residency and multiple entry visas for their ease of business and ease of the Procedure of foreign investment in Bangladesh.

 

Investing in the Stock market in Bangladesh

International investors are eligible to engage in Initial Public Offerings ( IPOs) without regulatory restrictions. In addition , capital gains from listed securities are tax-exempt for private investors and lower tax rates apply to corporations and other organizations.

 

Import Duty exemption in Bangladesh (Procedure of foreign investment in Bangladesh)

No import duties are applicable for export-oriented sectors. There are duty exemptions also for some preferred sectors. General exemption of import duties is also available in respect of import of specific Plant & Machinery and spares.

 

If you want to know everything about Immigration and Citizenship in Bangladesh read this articl

Foreign Investment In Bangladesh_Entering The Bangladshi Market

Allowance of Capital repatriation in Bangladesh

Full repatriation of invested capital, profits and dividends is allowed, subject to applicable taxes to make the process seamless in regards to the Procedure of foreign investment in Bangladesh.

 

Tax holiday facility in Bangladesh (THF) for seamless procedure of foreign investment in Bangladesh

Tax holidays are granted to industries subject to the relevant rules and procedures laid down by the National Revenue Board of Bangladesh (NBR). This may vary from 3 to 7 years depending on the location of the establishment. For example, industries located in the Dhaka and Chittagong Divisions (excluding three Hill Tract districts of the Chittagong Division) are exempted for a period of five years.

This tax holiday scheme, which was scheduled to end in 2015, was extended until June 2019 to create an investor-friendly atmosphere in Bangladesh. Tax holiday facilities are also available to manufacturing units and economic zone developers for a period of 10 years and 12 years respectively, and once again it makes it more seamless, the procedure of foreign investment in Bangladesh.

 

Special Tax Exemption for the foreign investors in Bangladesh

Tax exemptions are commonly permitted in the following cases:

  • There will be scope of tax exemption on royalties, technical know-how fees earned by any international partner, business, company and expert;
  • Reasonable income tax-upto-threeyearsforeign technicians working in industries as defined in the respective schedule of income tax regulations;
  • Relevant revenue of a private corporation conducting public infrastructure projects;
  • In regards to capital gains from the sale of shares of limited public company listed on the stock exchange;
  • NGO reported with the NGO Affairs Bureau;
  • Reasonable profits of companies and other sectors defined in the income tax Ordinance

Depreciation allowance in regards to Tax (Procedure of foreign investment in Bangladesh)

Depreciation allowance shall be allowed in respect of any house, equipment, factory, furniture, bridge, road or overhead used in any company or industrial undertaking in the measurement of income or gains.

The third schedule of the Income Tax Ordinance 1984 sets out a list of various types of properties and their corresponding depreciation allowance rates, which usually range from 10 % to 30% of costs.

The plan also sets out the overview of the usual rate of depreciation allowance, the original rate of depreciation allowance and the accelerated rate of depreciation allowance for various asset groups.

 

If you want to know more in details about tax submission in Bangladesh click here!

 

Avoidance of Double Taxation for Foreign Investors

 

Double taxation for international investors can be avoided on the basis of the Bilateral Double Taxation Avoidance Treaties (DTTs). NBR is responsible for negotiating Double Taxation Agreements (DTAs) with foreign countries to facilitate FDI in Bangladesh.

The DTA is an arrangement between two countries that aims to prevent double taxation by specifying the taxing rights of each country with respect to cross-border income flows and providing for tax credits or exemptions to remove double taxation for the ease of the Procedure of foreign investment in Bangladesh.

It also allows for the exchange of information between treaty partners on tax evasion. For instance, Bangladesh has double taxation treaties with  Denmark, France, Germany, Belgium, Canada, China, India, Italy, Japan, Poland, Romania, Singapore, South Korea, Sri Lanka, Sweden, Thailand, The Netherlands, The United Kingdom and other countries.

 

Procedure Of Foreign Investment In Bangladesh

Remittance of profits for foreign investors in Bangladesh

Remittance of income of subsidiaries of foreign companies / companies, dividends / capital gains, wages and savings of expatriates, royalties and technical fees, training and consulting fees, receivables obtained by shipping companies and airlines for freight and transit can be made by approved dealers without the prior approval of the Bangladesh Bank.

In addition to that the Procedure of foreign investment in Bangladesh are placed in such a way that global entrepreneurs are also entitled to the same facilities as domestic entrepreneurs with regard to tax holidays, dividends, technological know-how fees, etc.

Business profits and tax exemption for foreign investors in Bangladesh

The income of an enterprise of a Contracting State shall be taxable only in that State unless the enterprise carries on business in the other Contracting State through a permanent establishment situated therein.

If the enterprise carries on business as mentioned above, the benefit of the enterprise may be taxed in the other Contracting State, but only in so many cases as is due to that permanent establishment. (Article 7 of the Double Taxation Agreement).

Dividends and tax exemption for foreign investors in Bangladesh

Dividends paid by a company resident in a Contracting State to a resident in the other Contracting State may be taxed in the other State.

However, such dividends may also be taxed in the Contracting State in which the corporation paying the dividends is resident and in compliance with the laws of that State, but where the beneficiary is the beneficial owner of the dividend, the tax paid shall not exceed 10% of the gross sum of such dividends (Article 10 of the Double Taxation Agreement).

Interest arising from contract state for investors

Interest occurring in a Contracting State and charged to a citizen of the other Contracting State may be taxed in another State.

However, such interest may also be taxed in the Contracting State in which it exists and in compliance with the laws of that State, however if the beneficiary is the beneficial owner of the interest, the tax so paid shall not exceed 10% of the gross sum of the interest.(Article 11 of the Double Taxation Agreement).

Capital gain derived by a foregin resident in Bangladesh

Gains obtained by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 and situated in the other Contracting State may be taxed in that other Contracting State. (Article 13 to prevent a double taxation agreement, Procedure of foreign investment in Bangladesh)

Foreign Investment In Bangladesh-Formal Sectors In Bangladesh

Repatriation of investment in Bangladesh – Foreign Investment Law in Bangladesh

Full restitution of the capital accumulated from foreign sources is permitted. Likewise, the gains and dividends accrued on foreign investment can be transferred in full.

If foreign investors reinvest their repatriable dividends and/or retained profits, they will be considered as new assets. Foreigners living in Bangladesh are required to pay up to 75% of their wages and will benefit from complete repatriation of their savings and retirement benefits.

In order to allow full repatriation of the capital invested, benefit and dividend, foreign investors will have to apply for repatriation approval from the Bangladesh Bank through an approved bank. 

Foreign Private Investment (Promotion and Protection) Act, 1980, section 8 also states:

(1)  In respect of foreign private investment, the transfer of capital and the returns from it and, in the event of liquidation of industrial undertaking having such investment, of the proceeds from such liquidation is guaranteed.

(2)  The guarantee under sub-section (1) shall be subject to the right which, in circumstances of exceptional financial and economic difficulties, the Government may exercise in accordance with the applicable laws and regulations in such circumstances.

Foreign Investment In Bangladedsh

 

List of online portals for potential investors in Bangladesh (Procedure of foreign investment in Bangladesh)

Foreign direct investment (FDI)

 

www.bida.gov.bd

BIDA
Investing in economic zones www.beza.gov.bd  BEZA
Trade-related Information https://www.bangladeshtradeportal.gov.bd/ Bangladesh Government
Company name Clearance

http://app.roc.gov.bd:7781/psp/nc_ search?p_user_id=

 

Office of the Registrar of Joint Stock Companies and Farm (RJSC)

 

Registration of Company http://www.roc.gov.bd/

Office of the Registrar of Joint Stock Companies and Farm (RJSC)

 

VAT Registration http://www.nbr.gov.bd/

National Board of Revenue

 

Issuance of Certificate for using standard mark

http://www.bsti.gov.bd/Form_Online.html

Bangladesh Standards and Testing Institution (BSTI)

 

If you want to know how to Obtain a Trade License in Bangladesh click here!

Foreign Investment In Bangladesh_All The Priority Sectors For Foreign Investment In Bangladesh

Elimination of Taxation treaty in Bangladesh

 

In double taxation the following shall be eliminated:

 

(a) If a resident of China receives income from Bangladesh, the amount of tax on that income payable in Bangladesh in compliance with the terms of this Agreement may be credited against the Chinese tax levied on that resident.

 

However, the amount of the credit shall not exceed the amount of Chinese tax on that income determined in accordance with China’s tax laws and regulations.

 

(b) where the revenue received from Bangladesh is a dividend paid by a company resident in Bangladesh to a company resident in China and holding not less than 10 per cent of the shares of the company paying the dividend, the credit shall take into account the tax paid to Bangladesh by the company paying the dividend for its revenue.

 

Bilateral Investment treaties in Bangladesh

Bangladesh has with many nations, including China, signed Bilateral Investment Treaties (BIT) and Trade Agreements (TA). Typical provisions contained in BITs are clauses on foreign investment protection and treatment standards which usually address issues such as fair and equal treatment, full protection and security.

Provisions on reimbursement for damages suffered by foreign investors as a result of expropriation or as a result of war and dispute are typically a central part of such agreements as well. Most IIAs also control the moving of funds across borders in connection with the Procedure of foreign investment in Bangladesh.

The BITs also contain a clause on dispute resolution between investor and state. Usually this allows investors the right to bring a lawsuit to an international arbitral tribunal if a dispute occurs with the host country (Procedure of foreign investment in Bangladesh).

The International Center for Settlement of Investment Disputes (ICSID), the United Nations Commission on International Trade Law ( UNCITRAL) and the International Chamber of Commerce (ICC) are common places in which arbitration is sought.

Foreign Investment In Bangladesh_Best Law Firm For Investment Tahmidur Rahman

Funding options for foreign investors in Bangladesh

Foreign entities can conveniently access funding for short- and long-term investments from local financial institutions, including working capital loans, syndication, and trade finance. In addition, some of the Foreign Institutions (FIs) at home and abroad have access to on-shore and off-shore funding.

There are currently 58 planned commercial banks in the financial sector, as well as a host of Non-Bank Financial Institutions (NBFIs) and specialized financial institutions.
In addition to raising debt-based funding, investors may also consider securing equity-based capital-market financing from the country.

Raising Capital from the Equity market in regards to the Procedure of foreign investment in Bangladesh

International companies can start raising capital from the stock market, subject to fulfillment of certain terms and conditions. The government is keen to increase the number of companies listed on the local stock exchange, and offers regulatory incentives to attract profitable businesses and facilitate the Procedure of foreign investment in Bangladesh.

Listed firms pay 25 per cent corporate taxes on non-listed entities, excluding those markets, compared with 35 per cent tax limit.
Formal approval from the Bangladesh Securities and Exchange Commission (BSEC) is required for the fundraising process. Companies may use either the fixed price, or the option of constructing books.

The appointed merchant bank and auditor help prepare a prospectus under the fixed-price process, valuing the business based on current assets and prospects for future growth. The indicative stock price is determined and has to be certified by the regulator.

The method of book building involves a designated merchant bank to prepare an indicatively priced prospectus. The contending business then holds a series of road shows in which institutional investors are invited to bid on their stocks. IPO share price is dependent on input from other institutional investors and their interests. 

The DSEX listing process has the mandatory requirement that an Issue Manager be employed or named (approved by the DSEX). The way IPOs are determined needs support from the approved Issue Manager.

The draft prospectus shall be prepared in compliance with the Regulations of an Issue Manager and the Securities and Exchange Commission (Public Issue for the Procedure of foreign investment in Bangladesh ), 2015. IPOs can be issued by either book building or fixed-price system.

Debt capital from local commercial Banks in Bangladesh

International investors have access to financing for the local debt. Trade finance, term loans, and working capital are readily accessible to large foreign investors, in particular.

Interest rates are low for such loans and between 9-16 per cent. Bangladesh has a very large number of  State and commercial banks (as stated in the preceding section), and bank loans can be obtained against collateral secured in regards to the Procedure of foreign investment in Bangladesh.

Private Foreign Commercial borrowing in Bangladesh

To secure long-term foreign currency loans, a request must be sent to BIDA, which will then be forwarded to the Central Bank for further review.
To secure the loans, a business case supporting the loan condition must be included in the application. The proposal, along with the business case, is submitted for evaluation and decision by a committee chaired by the Bangladesh Bank Governor including members from BIDA, PMO Ministry of Finance.

Procedure Of Foreign Investment In Bangladesh

Regulatory institutions facilitating investment in Bangladesh

The investment route depends on the business sector and on the FDI policy introduced by the Government of Bangladesh. The following government and trade agencies would oversee and encourage investment in most sectors;

The Bangladesh Investment Development Authority (BIDA), Formerly known as the Investment Board (BOI), has been set up to deal with local and foreign investment issues. All incoming investments must be pre-approved by BIDA.

The regulatory body aims to encourage domestic and foreign investment by simplifying the bureaucratic complexities of entering the Bangladesh market in regards to the Procedure of foreign investment in Bangladesh. 

Bangladesh Bank ( BB) is the central bank of the country. The central bank must be officially informed of any foreign transactions, including equity investments made on the stock market. All incoming investments shall be reported to BB via commercial banks.

Relevant trade bodies and chambers in Bangladesh

The Dhaka Chamber of Commerce and Industry (DCCI) is a non-profit, service-oriented chamber serving as the first point of contact for small and medium-sized enterprises. DCCI offers market-oriented inputs to imports , exports and investments throughout the government’s policy formulation period for the Procedure of foreign investment in Bangladesh.

The Chamber periodically publishes guidebooks to promote trade and investment. DCCI also has its own training facility to facilitate the growth of capability of professionals associated with member organizations.

The International Investment Chamber of Commerce and Industries (FICCI), founded in 1963, is made up of 188 members across the mining, service and manufacturing sectors. Classified as Class ‘A’ Chamber of Commerce, FCCI is affiliated with the FBCCI, the International Trade Center (Geneva) and the World Trade Organization (Paris).

The Metropolitan Chamber of Commerce and Industry (MCCI) is a leading chamber body made up of representatives of major local and multinational corporations. The MCCI maintains frequent ties with major international trade organizations and global private sector organizations. (procedure of foreign investment in Bangladesh)

Exit policy for foreign investors in Bangladesh

An investor can terminate an investment either by a decision of an annual or an extraordinary general meeting. Once a foreign investor has completed the formalities to leave the country, he or she can repatriate the net proceeds after obtaining proper authorisation from the central bank (Bangladesh Bank, Procedure of foreign investment in Bangladesh).

Procedure Of Foreign Investment In Bangladesh

Frequently Asked Questions about Foreign Investment in Bangladesh

In regards to Foreign Investment in bangladesh people also ask these questions frequently, hence this FAQ content block is dedicated to answering your questions.

Foreign Direct Investment in Bangladesh at TRW:

The Barristers, Advocates, and lawyers at TRW in Gulshan, Dhaka, Bangladesh are highly experienced at dealing with foregin direct investment, where we assist clients in setting up of the complete business irrespective of whether it is within a specialized zone or any other part of Bangladesh. In TR Barristers in Bangladesh, our experience helps us to efficiently execute local and cross-border global transactions while helping you at all stages of the process and offering you cost-effective, realistic business solutions. In addition to handling various issues related to domestic clients on a regular basis, it also has experience in consulting and assisting numerous international clients with utmost care and attention throughout their legal exploration in Bangladesh. For queries or legal assistance in regards to the Procedure of foreign investment in Bangladesh, please reach us at:

 E-mail:[email protected]
Phone:+8801847220062 or +8801779127165

House 410, Road 29, Mohakhali DOHS

 

FAQ

Which Countries invest the most in Bangladesh?

The country's major investors are China, South Korea , India, Egypt, the United Kingdom , the United Arab Emirates and Malaysia. According to the most recent data available from Bangladesh Bank, FDI flows increased by 5.36% to USD 1.65 billion in July-October 2019 per year. -Procedure of foreign investment in Bangladesh

How is the Investment Scenario in Bangladesh in 2020?

Bangladesh is already recognized as a thriving investment hub, reflected in influxes of foreign direct investment ( FDI) from the region. Bangladesh 's FDI amounted to USD 2.58 billion at the end of June 2018.
According to the Bangladesh Investment Development Authority (BIDA), there was a 13.34% rise in FDI in the third quarter of 2018, with proposals worth USD 3.23 billion in the basket. Mega-projects by the government is seen as the primary explanation for significant FDI investments in  Transportation, transportation , and communications. Exports from the country are also growing amid domestic consumption.

What is an example of Foreign Direct Investment in Bangladesh?

Examples of foreign direct investment in Bangladesh include, but are not limited to, mergers, acquisitions, retail, utilities, logistics, and development. Foreign direct investment and the laws that regulate it can be critical to the growth strategy of a business.

What are the types of foreign Investment?

Examples of foreign direct investment in Bangladesh include, but are not limited to, mergers, acquisitions, retail, utilities, logistics, and development. Foreign direct investment and the laws that regulate it can be critical to the growth strategy of a business.

What is the current trend of foreign investment in Bangladesh?

35.4 per cent of the FDI came from the manufacturing industry in 2016-17. The country witnessed phenomenal Y-o - Y growth of 11 per cent 2017 In this area. Experts in industry are optimistic this development will be maintained in the years to come. The sectors of transport , storage and communications ranked second with FDI inflows of 25 per cent.

This may be due to the mega projects being initiated and executed by the government at the present time. Over the time, electricity, accompanied by gas and petroleum, attracted FDI of 19 per cent. Over the years, the power sector has steadily drawn foreign investments due to the Government 's attractive tax incentives. (Procedure of foreign investment in Bangladesh)

How Foreign investors can enter into Bangladeshi Market?

Foreign investors may either form a wholly / partially owned subsidiary, or set up a branch or liaison office for Bangladesh operations. The type of organization that was created will rely on the medium- and long-term strategy of the investor for market penetration. Hence the three conventional ways of entering the Market in Bangladesh:

  • Wholly owned subsidiaries
  • Limited liability by purchasing shares in an existing Bangladeshi company
  • Joint ventures

How to get work permit and visa as a foreign investor in Bangladesh?

For investors planning to become resident in Bangladesh by taking a full-time position or for the company's expatriate employee, branch office, liaison office, work permit is required.

Upon arrival in Bangladesh for a short period of time under two types of visa, the person is required to apply for a work permit with BIDA and an extension from the Passport and Visa Department, subject to effective completion of the security clearance.

How to get work permit and visa as a foreign investor in Bangladesh?

For investors planning to become resident in Bangladesh by taking a full-time position or for the company's expatriate employee, branch office, liaison office, work permit is required.

Upon arrival in Bangladesh for a short period of time under two types of visa, the person is required to apply for a work permit with BIDA and an extension from the Passport and Visa Department, subject to effective completion of the security clearance.

How to get work permit and visa as a foreign investor in Bangladesh?

For investors planning to become resident in Bangladesh by taking a full-time position or for the company's expatriate employee, branch office, liaison office, work permit is required.

Upon arrival in Bangladesh for a short period of time under two types of visa, the person is required to apply for a work permit with BIDA and an extension from the Passport and Visa Department, subject to effective completion of the security clearance.

What is EPZ or Export Processing Zone in Bangladesh?

Export Processing Zone is ideal for wholly owned export-oriented companies, if it is a Joint Venture, etc. 08 (eight) EPZs are geographically diversified in various locations within Bangladesh.

Depending on the nature of the company, availability of utilities, rental rates, transportation, availability of qualified man power, etc. Customer may choose acceptable EPZ to invest.

Have a Different Question?

Email us anytime : [email protected]

Or call — +8801847220062 or +8801779127165

Tahmidur Rahman | Law Firm in Dhaka

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Immigration and Citizenship laws of Bangladesh | Work permit and All visas

Immigration and Citizenship laws of Bangladesh | Work permit and All visas

Immigration and Citizenship in Bangladesh| All types of visas, work permits and everything  you need to know.

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Tahmidur Rahman, Director and Senior Associate

20 Oct 2019

Immigration and Citizenship in Bangladesh- This post in will explain in details the  Immigration Law in Bangladesh: Business & Work Permit Visa,  Government Delegate visa, BIDA guidelines, FE visa, investor visa, tourist visa – everything you need to know about immigration law in Bangladesh.

    Content Area

    Find the subsections below, If you want to jump through specific sections instead of reading the whole article.

    Immigration And Citizenship In Bangladesh_Bida Requirements_Best Law Firm In Dhaka

     

    Immigration in Bangladesh

     

    How to get immigration in Bangladesh

     

    Immigration and Citizenship in BangladeshImmigration is a process of people traveling or moving from one destination to another and becoming permanent residents or citizens of another State for employment, marriage or settlement, whether legally or illegally. Traditionally, the immigration process has been of great political, economic , and cultural benefit to States. As people cross national frontiers during their migration, they are called refugees from the point of view of the country they enter. On the other hand, from the perspective of the country they leave, these migrants are termed emigrants.

    Bangladesh has recently gained considerable worldwide attention due to its booming business and growing economy. As well as Bangladesh ‘s easy immigration law , foreign people from all around the globe have been inspired to stay there and continue their business. Many foreign nationals have attracted this to pursue jobs in Bangladesh or to invest in Bangladesh. This article provides an overview of Immigration and Citizenship in Bangladesh and the different schemes and procedures to be followed in Bangladesh for obtaining citizenship or a visa.

     How to get the citizenship of Bangladesh

    Step by step process of Obtaining citizenship in Bangladesh

     

    In regards to Immigration and Citizenship in Bangladesh, most nationals require a valid visa to enter Bangladesh. Type, visa category, and length of stay are determined / confirmed by the Embassy. The type and category of visa will differ depending on the intent of the visit, the duration of stay and bilateral agreement with the foreign national ‘s country. Any amendments made by the Government of Bangladesh to the rules and regulations will apply to issuing visas.

    But in regards to citizenship procedure in Bangladesh, A person who has resided in Bangladesh for 4 ( four) years during the last seven (seven) years can apply for Bangladesh citizenship.

    Bangladesh’s nationality law regulates the citizenship and nationality problems of the People’s Republic of Bangladesh. The law governs the status of nationality and citizenship of all people born in Bangladesh, as well as of all persons of Bangladesh descent. This helps the children of expatriates, foreigners as well as Bangladesh residents to evaluate their citizenship status and to apply for and receive Bangladesh citizenship if appropriate.

    In regards to Immigration and Citizenship in Bangladesh, the primary legislation relating to Bangladesh citizenship is the 1951 Citizenship Act, originally the 1951 Pakistan Citizenship Act, later modified by a series of statutory orders passed by the Bangladeshi Government.

     

    Requirements of obtaining a citizenship in Bangladesh

     

    In order to get citizenship well within the framework of Bangladesh’s immigration law, the applicant has to fullfill the following( Immigration and Citizenship in Bangladesh):

     

    • (a) That he is not a minor

       

    • (b) That he is neither a citizen of [Bangladesh] nor a subject of any state of which a citizen of [Bangladesh] is prevented by or under any law from becoming a subject by naturalization;]

       

    • (c) that he has resided in [Bangladesh] throughout the period of twelve months immediately preceding the date of application, and has, during the seven years immediately preceding the said period of twelve months. Resided in [Bangladesh] for a period amounting In the aggregate to not less than four years;

       

    • (d) That he is of good character;

       

    • (e) That he has adequate knowledge of the [Bengali] language; and

       

    • (f) That he Intends, if the application is granted, to reside in [Bangladesh] or to enter or continue in the service of the [Republic] in [Bangladesh].

    Obtaining a certificate of Naturalization

     

    If the above conditions are met, then the person seeking Immigration and Citizenship in Bangladesh must apply to the appropriate government authorities in Bangladesh for a Certificate of Naturalization.
    Any application for a Naturalization Certificate shall be in writing and shall state to the best of the applicant ‘s knowledge and belief-

    • (a) His age
    • (b) His place of birth;
    • (c) His place of residence.,
    • (d) His profession, trade or occupation
    • (e) Full particulars regarding his qualification;
    • (f)Whether he has at any time previously applied for the grant of a certificate of naturalization;
    • (g)Whether any such application has been rejected
    • (h)Whether any such certificate has been granted to him; and
    • (i)Whether any such certificate granted to him has been revoked or whether he has been deprived of his citizenship.

      After receiving the Certificate of Naturalization, the applicant would be registered as a citizen of Bangladesh. ( Immigration and Citizenship in Bangladesh)

    Immigration And Citizenship In Bangladesh_Passport Law Firm In Dhaka

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    Government Delegate visa in Bangladesh

     

    A. Who are eligible to apply

    Government Delegates who want to visit Bangladesh for the purpose of official tour/duty/visit, they are eligible to apply for Government Delegates visa.

    B. Duration of Government Delegates visa

    Government Delegates visa may be issued for as required with single, double or multiple entries. 

    The visa applicant must obtain and fill out the application form from the Bangladesh High Commission in their respective country. The following documents must be submitted to the Bangladesh High Commission along with Visa application

    1. Print-out of duly filled-in Visa application form with applicant’s signature;
    2. 01 (one) recent passport size (45X35 mm) colour photograph with a white background;
    3. Passport (with at least for six months validity);
    4. Note Verbal from the concern Ministry mentioning the applicant’s position, duration of stay and purpose of visit in Bangladesh;
    5. Previous Passport and visa (if any) along with a photocopy.

    Business visa in Bangladesh

    The applicant should apply for the B visa in respect of business travel visa. The following documents must be sent to the High Commission or Embassy of Bangladesh in the respective country for obtaining a B-Business visa-

    • The completed and signed visa application form;
    • Original passport, valid for at least six months;
    • The visa processing fee;
    • Three passport-sized recent photographs;
    • Invitation letter from a business organization in Bangladesh;
    • Letter from your employer confirming your position in the company;
    • Your flight/travel itinerary;
    • A self-addressed, pre-paid special delivery envelope.

    After obtaining B visa, the visa holder can reside in Bangladesh for 180 days.

    Types of  work permit in Bangladesh

    To any foreign national pursuing jobs in Bangladesh, a work permit is compulsory. In Bangladesh, there are 3 government authorities issuing work permits.

    1. For private sector industrial enterprise, branch office and liaison office, outside of Export Processing Zone (EPZ) – Board of Investment (B01).
    2. For employment of foreign national in the EPZ – Bangladesh Export Processing Zones Authority (BEPZA).
    3. For employment of foreign national in any NGO – NGO Affairs Bureau.

    Immigration And Citizenship In Bangladesh_Citizenship Law Firm In Bangladesh

    Complete step by step process of obtaining a work permit in Bangladesh

    For any foreign national seeking employment in Bangladesh, the first move is to get a work permit to work in Bangladesh. The Bangladesh Investment Development Authority (BIDA) is the primary government authority in Bangladesh to grant work permits for foreign nationals pursuing jobs in private companies or industries or public enterprises. This government agency is the primary agency that decides if a foreigner should obtain a work permit to work in Bangladesh. For foreign nationals seeking work permit in Bangladesh, BIDA has a specified form. Please click here to download the Form.

    Necessary documents required for a work permit in Bangladesh

    The following papers/documents are required for new work permit(Immigration and Citizenship in Bangladesh)

    1. Application in prescribed form along with passport size photographs of the foreign national(s) attested by the Managing Director/Managing Partner/Proprietor/appropriate authority.

    2. Attested copy of the permission letter for Branch/Liaison Office/Company.

    3. Commercial Enterprise from the appropriate authority, if not submitted earlier.

    4. Board resolution regarding employment of foreign national(s) including salary & other benefit.

    5. Memorandum, Article of Association and Certificate of Incorporation of the Company duly signed by shareholders, if not submitted earlier.

    6. Attested photocopy of passport with arrival stamp ‘E’ type visa for employee and ‘PI’ type visa for investors.

    7. Attested copy of service contract/agreement and appointment letter, in case of employee.

    8. Attested copies of all academic, professional and experience certificate for employee (Immigration and Citizenship in Bangladesh).

    9. Paper clipping showing advertisement made for recruitment of local personnel prior to appointment of the foreign national(s).

    10. Statement of manpower showing list of local and expatriate personnel employed with designation, salary details, nationality and date of first appointment.

    11. Encashment certificate of inward remittance in favor of Liaison/Branch office for the last 2 years.

    12. Encashment certificate of inward remittance of minimum US$ 50,000 as initial establishment cost for branch/liaison offices and locally incorporated/join-venture and 100% foreign ownership companies.

    13. Up-to-date income tax certificate for branch office of the locally incorporated companies in Bangladesh.

    Guidelines of BIDA for foreign nationals

    Foreign nationals must keep in mind that BIDA strictly maintains the following guidelines:

    • Applicants of the work permit must be from a country which Bangladesh recognizes as a nation.
    • Employment of the foreign national is considered only in industrial/commercial establishments which have been registered by the appropriate authority.
    • Employment of foreign nationals is normally considered for the job for which locals are not available. However, this is not a mandatory requirement.
    • Persons under the age of 18 years are not eligible for employment.
    • A decision of the board of directors of the concerned company or institution for new employment is to be furnished in each case.
    • BIDA ensures that the number of foreign employees does not exceed 5% in the industrial sector and 20% in the commercial sector of the total employees.
    • Initially, employment of any foreign national is considered for a period of one year, which may be extended on the merit of the case.

    BIDA – Step by step process

     

    Step 1: Publishing newspaper or an online advertisement

     

    For the recruitment of a prospective employee the employer must first put a print in a Bangladeshi newspaper or internet advertising. The newspaper or online advertisement must provide a list of the duties that the employee will be expected to perform, future employee credentials, wage description (negotiable or not), work place, and any other necessary terms of employment. Essentially this advertising sets out a job description.

    Step 2: Application for the E Visa Recommendation

    Thereafter, the employer must apply to BIDA for the E Visa recommendation in favour of the foreign national. The documents that must be submitted to BIDA are as follows-

     

    • Copy of permission letter for branch/liaison/representative office or Memorandum of articles of association and certificate of incorporation in case of a locally incorporated company.
    • Board Resolution for the employment of foreign nation(s) mentioning Expatriate Name, Nationality & Passport Number
    • Photograph of the Expatriate.
    • Copy of passport of the Expatriate/Investor/Employee (Whole of the used part).
    • Appointment Letter/transfer order/service contract or agreement for expatriate/investors.
    • Certificate of all academic qualification & professional experience for the employees
    • Paperclipping showing advertisement made for recruitment of local personal prior to the appointment of the expatriate(s)
    • Specific activities of the company
    • Statement of manpower showing a list of local and expatriate personal employed with the designation, salary break-up, nationality and date of the first appointment. (Latest Copy)
    • Encashment certificate of inward remittance of minimum U.S $50,000.00 as initial establishment cost for branch/liaison/representative office and locally incorporated/ joint venture and 100% foreign ownership companies.
    • Up-to-date Income tax clearance certificate (Organization)

    Please keep in mind that all the documents must be attested by the Chairman/ CEO / Managing director/ Country Manager/ Chief executive of the Company/ firms.

     

    Step 3: Application for E Visa in the respective Bangladesh Embassy or High Commission

     

    Once BIDA issues the E visa recommendation, the foreign national must apply for E visa in the respective Bangladesh Embassy or High Commission in their country. Once the E visa is issued, the foreign national should enter Bangladesh with the E visa.

     

    Step 4: Application for a work permit in Bangladesh

     

    After arrival in Bangladesh, the foreign national must submit an application for the work permit to BIDA within 15 days. A fee of Tk. 5,000 is applicable for applying for the work permit.

     

    The following papers/documents are required for a new work permit:

     

    • Attested photocopy of passport with arrival stamp ‘E’ type visa for an employee
    • Copy of permission letter for branch/liaison/representative office or Memorandum of articles of association and certificate of incorporation in case of the locally incorporated company.
    • Board Resolution for the employment of foreign nation(s) mentioning Expatriate Name, Nationality & Passport Number
    • Photograph of the Expatriate.
    • Copy of passport of the Expatriate/Investor/Employee (Whole of the used part).
    • Appointment Letter/transfer order/service contract or agreement for expatriate/investors.
    • Certificate of all academic qualification & professional experience for the employees
    • Paperclipping showing advertisement made for recruitment of local personal prior to appointment of the expatriate(s)
    • Specific activities of the company
    • Statement of manpower showing list of local and expatriate personal employed with the designation, salary break-up, nationality and date of the first appointment. (Latest Copy)
    • Encashment certificate of inward remittance of minimum U.S $50,000.00 as initial establishment cost for branch/liaison/representative office and locally incorporated/ joint venture and 100% foreign ownership companies.
    • Up-to-date Income tax clearance certificate (Organization)

    Step 5: Security Clearance

     

    Once a work permit is issued by BIDA, a copy of the work permit would then be sent to the Ministry of Home Affairs for security clearance by BIDA. After some scrutiny, security clearance will be issued. (Immigration and Citizenship in Bangladesh)

     

    Immigration And Citizenship In Bangladesh_All Types Visas In Bangldaesh

    If you want to know everything about obtaining a VISA in Bangladesh - Read this Article

    FE – visa in Bangladesh

    One additional feature of the E Visa is that after the foreign national obtains work permit through E Visa, he is eligible to bring his spouse or dependent members to Bangladesh through the FE VISA.

    Authorized Period of stay: the same length of stay as the Principal visa trip in the E category.

    Birth/ marriage certificates must be presented to BIDA to obtain the FE Visa. (Immigration and Citizenship in Bangladesh)

     

    Investor visa in Bangladesh

    The investor visa is applicable to foreign investors who want to invest in a business in Bangladesh.

    The applicant for a visa must obtain and fill out the Bangladesh High Commission application form in their respective country. The following documents and the Visa application must be sent to the Bangladesh High Commission (Immigration and Citizenship in Bangladesh)-

    • A printed copy of duly filled in the online VISA application form and signed accordingly;
    • Recent passport size colour photo- 2 (Two) copies with white background;
    • Original Passport (valid at least for six months) with a photocopy of photo page;
    • Recommendation letter from BIDA/BOI/BEPZA.

    Tourist visa in Bangladesh

     

    To obtain a tourist visa to visit Bangladesh, the visa applicant must appear for visa application in person at the Bangladeshi Embassy in their country. As part of the application, the visa applicant must have the following documents (Immigration and Citizenship in Bangladesh )-

    • Filled-out online Application form (print out copy with a signature signed
    • Passport and a copy of the main page.
    • 2 recent colour photographs(2 inches size and a stamp size 2 cm. x 2 cm.) with a white background.
    • An employment letter (mentioning that individuals appointment/post, passport number, duration of period serving in the company and salary. ) OR an invitation letter from Bangladesh in the subject in Tourism together with a copy of a passport of the host/ a person who invites you to Bangladesh.
    • A copy of Hotel reservation.
    • A copy of the recent book bank or bank statement (alternative)
    • A copy of Ticket
    • A valid Passport with a sufficient number of pages
    • Copy of the previous visa

     

    After the tourist visa period ends, the visa applicant can apply for extending the visa.

     

     

    Immigration And Citizenship In Bangladesh_ Best Law Firm In Bangladesh_Tahmidur Rahman Trw

    “One additional feature of the E Visa is that after the foreign national obtains work permit through E Visa, he is eligible to bring his spouse or dependent members to Bangladesh through the FE VISA”

     

    Finallllllll 1 3

    Student visa in Bangladesh

    Students seeking admission to any government-approved educational institution must apply at their respective Bangladeshi Embassy or High Commission for a student visa (Immigration and Citizenship in Bangladesh ).

    The following documents must be submitted to the Bangladeshi Embassy or High Commission in order to apply for a student visa:

    • Proof of letter from the Bangladesh Bangladeshi educational institution where the applicant got admission or is going to get admission;
    • Sponsorship letter from the Bangladeshi educational institution;
    • Bank statement of the previous three months;
    • Student ID issued by the Bangladeshi educational institution with a photocopy;
    • Two copies of 45mm X 35mm photographs;
    • Filled-in visa application form.

     

    Diplomatic visa in Bangladesh

    This visa applies to individuals employed in a diplomatic position. To apply for a diplomatic visa, the following documents must be submitted to the respective Bangladesh ambassy or high commission.

    • Official letter from the concerned Government/ Embassy/ Office/ Organization;
    • Two copies of 45mm X 35mm photographs;
    • Filled-in visa application form
    • Letter from the Ministry of Foreign Affairs required for the Exemption of the Visa fees for the official visits
    • Visa will be given on the Official Passport.

     

    NGO visa in Bangladesh

    A person who has been named to a Bangladesh registered NGO is eligible for a visa from the NGO. The following documents for NGO visas must be sent to the relevant Bangladeshi Embassy or High Commission (Immigration and Citizenship in Bangladesh):

    • A certified letter from the concerned NGO in Bangladesh which should be duly attested by the NGO Affairs Bureau, Dhaka stating that the visa applicant has been appointed by the concerned NGO;
    • The appointment letter issued by the concerned NGO with the terms and conditions from the NGO where the applicant has been appointed;
    • A letter from the present employer of the applicant;
    • Two copies of 45mm X 35mm photographs;
    • Filled-in visa application form.
    • Recommendation letter from the concerned Bangladeshi NGO.

     

    Journalist visa in Bangladesh

    Journalists from newspapers / magazines / TV or radio networks / news agencies / print , electronic or satellite media / self-employed journalists will be eligible for a journalistic visa for their professional service in Bangladesh. To obtain a journalistic visa, the following documents must be submitted by the visa applicant to the respective Bangladesh embassy or high commission (Immigration and Citizenship in Bangladesh):

    • A support letter from his/her employer describing the purpose of the visit to Bangladesh;
    • Filled in FF-Iand FF-II forms;
    • Two copies of 45mm X 35mm photographs
    • Filled-in visa application form.
    • Passport copies
    • One set of a copy of the work permit in the country that he/she is employed in.
    • A copy of the journalist/press identity card
    • A recommendation letter from the current employer in their respective country, providing necessary information such as the details of the journalist, what subject will be reported or what information will be obtained in Bangladesh and the types of equipment that will be necessary to conduct the report in Bangladesh.

     

    Immigration practice at TR Barristers in Bangladesh 

    The Barristers, Advocates, and lawyers at TRW (Tahmidur Rahman, TR Barristers in Bangladesh) in Gulshan 1, Dhaka, Bangladesh are highly experienced at providing any kind of services related to immigration for foreign nationals. This is often considered as the best Immigration law chamber in Bangladesh, it has assisted numerous clients to obtain visa in Bangladesh. It can provide any kind of documentation, paperwork, consultation or any other related services to any foreign national who seeks visa in Bangladesh or anything in regards to the Immigration and Citizenship in Bangladesh. For queries or legal assistance, please reach us at:

    E-mail: [email protected]

    Phone: +8801847220062 or +8801779127165
    House 410, Road 29, Mohakhali DOHS

     

    Immigration And Citizenship In Bangladesh_ Tahmidur Rahman_ Best Law Firm In Dhaka

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    Business Visas in Bangladesh | Types, Eligibility and Requirements and how to get them | Immigration Law Firm in Dhaka, Bangladesh

    Business Visas in Bangladesh | Types, Eligibility and Requirements and how to get them | Immigration Law Firm in Dhaka, Bangladesh

    Bangladesh Business Law –  Top Commercial Law Firm in Dhaka Bangladesh

    Business Visa in Bangladesh | Types and Requirements

    Tahmidgoldenpicturebackground E1569742859700
    Tahmidur Rahman, Managing Partner

    8 jan 2020

    Table of Contents

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    Visa Application Process In Bangladesh_Best Immigration Law Firm In Bangladesh

    Business Visa in Bangladesh

    Business visa is valid for six months in Bangladesh and as it is a multi-entry visa. From up to three to five (3-5) years, you can extend your business visa to Bangladesh.

    You don’t get a business visa to work in Bangladesh. If you’re going to get a job, you need a work permit.

    Nevertheless, you can use your business visa to carry out activities such as:

     

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    Obtaining process of a visa in Bangladesh 

    Bangladesh offers various types of visas to foreign nationals who want to use the current investment and work opportunities provided by the Bangladesh government. Visa from any foreign country is relatively easy to obtain, but there are no clear guidelines and the procedure of diplomatic missions in Bangladesh varies from mission to mission.

    A visa to be obtained from the Bangladeshi diplomatic mission in the country of the visa applicant will be required for business visitors to Bangladesh. Depending on the political climate and other domestic issues, visa availability varies. It is generally recommended to obtain a visa before arrival in your home country.

    General Requirement of visa (There will be additional requirement based on the type of visas)

    • Filled-in application form
    • Photographs (Size: 37mmX37mm and recent one): 02 copies
    • Valid passport and
    • Payment receipt of visa fee

    Types of Visas:

     

    Visa Types Law Firm In Dhaka Bangladesh

    Here are the Visa Classifications in details:

     

     Business Visas in Bangladesh

     

    Business visa is usually approved for business people who want to make use of the possibility of doing business in Bangladesh. For example, meeting various business people and government officials to make investments in Bangladesh, visiting factories and workers, testing legal barriers, contacting various staff to discuss possible business strategy in Bangladesh. However, the purpose of such a visit should be limited to the type of activities mentioned above and the person with business visa is not permitted to do any kind of business without the permission of the relevant authority (e.g. BIDA, BEPZA) or to engage in any kind of work without work permit.

            Employment Visa in Bangladesh

    A Bangladesh employment permit enables its holder to work and be employed in the country. It is a multi-entry visa and is valid for three (3) months in the beginning. Therefore, once it loses its value, you can also expand it. Note, however, that the period of validity depends on the duration of the contract of employment. The Department of Immigration and Passports will subsequently extend the validity of a multi-travel facility visa for a maximum period of 1 (one) to 2 (two) years at a time, based on the receipt of a work permit for employees, airlines, banks and insurance companies and on the recommendation of Bangladesh’s sponsors. 

    Eligible persons:

    (A) Govt-employed experts / consultants / employees. /Half Govt. Organization, organisations that are independent and similar.

    (B) Local and Foreign Govt./Private, Industrial / Trading Organizations and Liaison Office, Branch Office employees and employees.

    (C) Local and foreign workers and individuals. /Private undertakings and institutions of the same class.

    Authorized duration of stay: The relevant Bangladesh Mission initially issues visa for a maximum period of 3 (three) months subject to submission of papers/documents in support of the appointment with application.

    Indicative list of required documents: Letter of Appointment and Letter of recommendation from the concerned Ministry in Bangladesh / Bangladesh Investment Development Authority (BIDA) / Bangladesh Export Processing Zones Authority (BEPZA)

     

    Us Embassy Visa Types

     

     Investment Visas in Bangladesh

     

    The primary purpose of the Bangladesh investment visa is to allow the holder to attend business meetings and keep them. But these meetings will, of course, be linked to their domestic investments.

    The initial duration of this visa is one (1) year with a maximum of three (3) months per year, which means that every three (3) months the investor has to leave and re-enter Bangladesh. The visa may be extended up to five (5) years if the investor decides to continue investing in Bangladesh.

    Note that a letter of recommendation is required for this visa. It can be from either a local or a Bangladesh sponsor from abroad. Another prerequisite is that you need a BEPZA or BOI certificate to prove you have a Bangladesh investment.

    In general, seven (7) working days are the process time for this visa. You must seek a visa from a foreign embassy in Bangladesh.

    Recall also that the investment visa does not allow employment to be taken up. Therefore, if you are planning to be employed in Bangladesh by a corporation, you must also obtain a work permit.

    FE VISA in Bangladesh

    Eligible Individuals: spouse and other dependent members of the Principal Visa group E.

    Authorized period of stay: the same length of stay as the Principal visa trip in the E category.

    Indicative list of required documents: Relevant documents e.g. birth/ marriage certificates / letter from recommending authority

     

    “Visa from any foreign country is relatively easy to obtain, but there are no clear guidelines and the procedure of diplomatic missions in Bangladesh varies from mission to mission.”

    Visa on Arrival in Bangladesh:

     

    Eligible people: HSIA may also apply for VOA from foreign investors and business persons. VOA may not be qualified for by all nationals. The issuance of this visa is the Bangladeshi immigration officer’s sole discretion.

    Permitted length of stay: 30 days.

    Required document indicative list:

    a. The candidate for the LP / VOA must have a return ticket together with

    b. Letter or identity certificate from various associations of export-oriented commercial / industrial organizations (i.e.–FBCCI / BGMEA) in their letterhead specifying the relationship between the claimant and the organization and the length of the relationship.

    c. The VOA applicant must have US $500 or equivalent foreign currency endorsed in his/her passport, credit card, debit card, travellers’ cheque or in cash.

     

    Visa Application Process Top Law Firm In Dhaka Tahmidur Rahman

     

     

    ➤ E1 Visa in Bangladesh –

     

    Authorized length of stay: E1 visa is granted by the Embassy of the People’s Republic of Bangladesh of the country concerned for a maximum period of 6 (six) months, subject to the presentation of papers / documents in support of the appointment.

     

    Eligible persons: Persons visiting equipment and software / project supervision supply / installation / maintenance etc. Indicative list of required documents: invitation from the local sponsor, copy of the agreement, recommendation from the Bangladesh Investment Development Authority (BIDA)/Bangladesh Export Processing Zones Authority (BEPZA)/department / agency.

     

     

     

    ➤ PI Visa in Bangladesh:

     

     

    Eligible Persons: Investors in existing / new / under construction / new industrial / commercial entity in the private sector under a joint venture or a 100% foreign-owned company Authorized length of stay: PI visas shall be issued at the first application for a period of 3 months, if applied with the relevant documents.

    Authorized duration of stay: PI visas are issued for a period of 3 months at the first application, if applied with relevant documents.

    Indicative list of required documents: Certificate / Letter of BIDA / BEPZA (if applicable) certifying that the applicant is a genuine investor

     

     

     

    ➤ A3 Visa in Bangladesh-

     

    Eligible Persons: Experts / advisers / officials / staff members / labors working in any project under the bilateral / multilateral agreement between Bangladesh government

    and development partner agencies

    Authorized duration of stay: The concerned Bangladesh Mission grant A3 visa for a maximum period of 3 (three) months subject to submission of appointment letter upon application.

    Indicative list of required documents:

    1. Recommendation from concerned Ministry / ERD / Govt. Organization and copy of agreement.

    2. Security clearance from Ministry of Home Affairs.

     

     ➤FPI Visa in Bangladesh

     

     

     

    Eligible Persons: Spouse and dependent members of the Principal travelling on PI category visa

    Authorized duration of stay: same duration as Principal travelling on PI category visa.

    Indicative list of required documents: Relevant documents e.g. birth/ marriage certificate / letter from recommending authority

    ➤FA3 Visa in Bangladesh:

     

     

    Eligible Persons: Spouse and other dependent family members of A3 visa holders.

    Authorized duration of stay: same duration as Principal traveling on A3 category visa.

    Indicative list of required documents:

    1. Recommendation from concerned Ministry / ERD / Govt. Organization/copy of agreement/MOU etc. with GOB.

    2. Police Verification Report

     

     

    ➤ J visa in Bangladesh

    Eligible Persons: Journalists of newspapers / magazines / TV or radio networks / news agencies / representatives of print, electronic or satellite media / freelance journalists etc.

    Authorized duration of stay: usually 3 years

    Indicative list of required documents: A clearance from the Ministry of Foreign Affairs ‘ External Publicity Wing is required for the issuance of J category visa. Usually it takes 21 days to process after the application has been submitted. The applicant must also apply, together with the visa application form, duly filled in FF-I and FF-II forms.

     

     

     

    Visa Requirement In Bangladesh Law Firm In Dhaka

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    What to do When cheque dishonour or bounce in Bangladeshi Law?

    What to do When cheque dishonour or bounce in Bangladeshi Law?

    Law Firm Of Barrister Tahmidur Rahman Best Lawyer In Bangladesh

    Tahmidur Rahman, Senior Associate 

    5 Aug 2019

    Cheque Dishonour or Bounce in Bangladesh – Law, Solution, Retrieve, Remedies, Punishment – A complete Overview of Cheque Bounce in 2023

    Table of Contents

    Find the subsections below, If you want to jump through specific sections instead of reading the whole article.

    Best Cheque Dishonour Law Firm In Bangladesh Tahmid

    What to do When Cheque Dishonour or Bounce in Bangladesh? How can you take legal actions to retrieve your money? This post provides complete overview of how to deal with cheque dishonouring in Bangladesh.

    Cheque Dishonour or Bounce in Bangladesh

    Currently, even a business organisation in Bangladesh like many other countries, without maintaining a bank account, can not operate its daily activities. Despite the massive development in the recent past in Bangladesh of alternative delivery channels such as Internet Banking, BEFTN (Bangladesh Electronic Funds Transfer Network), RTGS (Real Time Gross Settlement) and many other aspects of digital banking, people are still comfortable enough to use checks for personal and business transactions. In the case of large-scale transactions, the use of checks is obviously the best way in our country because of security issues.

    The possibility of a check being dishonoured is significantly high due to the high number of transactions through this mode. The receiver of checks must therefore have sufficient and effective legal redress, which they can consider when faced with this situation. Recently, in a case of dishonouring the test, a well-known film actor has been accused and filing these cases is almost regular occurrences with different courts across our country. People deliberately issue checks without making funds available in their bank accounts due to a lack of integrity and ethical practice. It may only seem to be a misdemeanour, it is, in fact, a serious crime.

    Cheque Dishonour or Bounce – In Laws of Bangladesh

    Both the government of Bangladesh and the Bank of Bangladesh have taken a number of steps to provide adequate legal remedy to protect and pull this state. The following discussion will focus on our country’s prevailing check dishonour law:

    1. The most vital law enacted to provide legal remedy to such a situation is the Negotiable Instruments Act, 1881 (Act No. XXVI of 1881). Section 6 of this Act established what constitutes a cheque, stating that’ a bill of exchange drawn on a stated banker and not presented as payable other than on order.’ In addition, in the case of laws, a check was also known as an order on a borrower by a lender to pay the whole or part of a debt to another person.

    2. If a check is not cleared because of insufficient funds or if the debtor who issued the check to the lender ordered his bank to dishonor the check or for any other reason, then the remedy will be under Section 138 of the above Act.

    3. Section 138 of the Negotiable Instrument Act, 1881 makes it clear that, whenever a check is bounced, it is then accepted as correct until it is otherwise proved that an unscriptural guilt is created which involves punishment of a criminal nature which may include 01 (one) year of captivity or fine, which may extend to three times the value of the dishonoured check or both. In addition, the person who is regrettable also has a civil remedy under the same section, and in order to obtain the civil remedy, the person has to take some steps.

    Best Cheque Dishonor Law Firm In Bangladesh | Tahmidur Rahman

    4. The first issue to be assessed by the court is whether the check has been presented to the bank for withdrawal within six months of the person being dismissed. If the check has been presented to the bank for withdrawal any time after it has been given to the regrettable person for six months, then the court will not allow the claim. Considering that the check has been submitted within a valid period of time and if it is dishonored, then pursuant to Section 138 of the Negotiable Instrument Act, 1881, the unfortunate person must send a written notice by registered post with acknowledgement due to the person who gave the check claiming the money back.

    5. This notice requiring the money back must be sent within 30 days after the check has been bounced, that is, when the regrettable person has been notified that the check given has bounced due to insufficient funds or other reasons. Again, the court will not provide any redress if the notice demanding the money is not sent within the constitutive time. After the above process has been completed and the person receiving the notice does not pay back the money within 30 days of receiving the notice, the mortified person will be allowed to bring a civil claim against that person for the recovery of the money.

    6. It should be remembered that the crime of dishonor of the search referred to in section 138 of the Act is considered a criminal offence. The legislation was aimed at punishing and not obtaining a due sum. Nevertheless, the section retains the possibility of restitution as the owner of the check can be paid by the court an amount of any fine recovered up to the check value. If someone wants to recover cash that has not been discovered then he or she will file a civil suit for money recovery. In reality, however, it was found that filing a criminal proceeding under s.138 was the most effective way to recover money.

     

    Infographics Cheque Dishonour In Bangladesh

    Step by Step Process for filing a case for Cheque Dishonour or Bounce in Bangladesh

    The recipient of the check may file a case against the applicant under the following conditions:

    (A) Submitting the check to the bank:

    The default check must be submitted to the bank for encashment within 6 months from the date it is drawn. If the check is dishonored, due to such dishonour, the bank shall give a slip.

    (B) Legal Notice:

    Upon obtaining a check dishonor slip from the bank, the payment application shall be made by notifying the giver of the check within 30 days by registered post. The recipient will give the money back for 30 days.

    (C) Implementing Section 138

    Unless, within 30 days of receiving the notice, the giver of the check fails to make the payment of the said amount of money, the receiver of the check shall file a case under section 138 of the Negotiable Instruments Act, 1881.

    Now where and how to file a case for Cheque Dishonour or Bounce in Bangladesh

     

    The recipient of the check may file a case against the applicant under the following conditions:

    When the owner presents the check for encashment to a bank, he will bring in court the claim for check dishonor that has local jurisdiction over that bank.
    The offense of check dishonor can be completed with the emphasis on certain specifics:

    i) drawing of the check,

    ii) presenting the check,

    ii) returning the check unpaid by the drawee bank,

    iv) giving written notice to the drawer of the check demanding payment of the check sum,

    v) failure of the drawer to make payment within 30 days of receipt of the notice.s of receiving the notice, the giver of the check fails to make the payment of the said amount of money, the receiver of the check shall file a case under section 138 of the Negotiable Instruments Act, 1881.

    Now, if the above five different acts were carried out in five different locations, one of the courts exercising jurisdiction in one of the five local areas could become the place of trial for the offense of cheque dishonour. The plaintiff may select any of the courts in whose jurisdiction any of the five components of the said offense have been made.

    Bank Cheque Bounce Legal Action Law Firm In Dhaka_Tahmidur Rahman

    Essential documents you need if you would like to file a case against a dishonoured cheque in Bangladesh

    Before proceeding to file a case, a complainant must keep some essential requirements in mind which are as follows:

    • The dishonoured cheque
    • Bank slip regarding cheque dishonour
    • Copy of legal notice
    • Postal receipt and acknowledgment letter of legal notice
    • Copy of newspaper where legal notice is published, if any
    • Authorization letter or power of attorney if ‘Authorized Agent’ files the case
    • List of witnesses
    • Costs of the case such as Court fee, lawyer’s fee etc.
    • Government or private legal aid if unable to bear the costs of the case
    • Intention to go for settlement with the offender to get the money.
    Best Banking Law Firm In Dhaka Bangladesh Tahmidur Rahman

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    Telegraph Bangladesh

    PENALTY FOR CHEQUE DISHONOUR or Bounce in Bangladesh:

    The offender who commits the dishonor of the cheque shall be punished with imprisonment for a term of up to one year or with a fine of up to three times the value of the cheque or both.

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    Skyscrapers in Bangladesh

    FAQ

    What is a Cheque Dishonour in Bangladesh?

    Dishonoured checks are ones that the bank on which they are drawn declines to honor (pay). Non-sufficient funds (NSF), which denotes that there are not enough cleared funds in the account on which the check was drawn, is the most frequent cause for a bank to refuse to honor a check. [1] A bad check, dishonored check, bounced check, cold check, rubber check, returned item, or hot check are all terms that might be used to describe an NSF check. Such checks are often returned with the endorsement "Refer to drawer," instructing the recipient to get in touch with the check's issuer for a justification of why it wasn't cashed.

    What are the differences between cheque bounce and Dishonour?

    The sole difference between a cheque bounce and a cheque dishonour is that a cheque dishonour happened because of a distinguishing signature, an incorrect date, etc. However, the reason the check bounced was because there weren't enough funds in the drawer's account.

    Can I present the dishonoured cheque again for a second time?

    Yes, even if the check was previously dishonored, you may still bring it to the bank for payment. It should go without saying that the check can only be presented in the bank once while it is still valid. The typical check's validity term is three months.

    What are the reasons for refusing a cheque in Bangladesh by a Bank?

    Any major bank may refuse to honor a check if there aren't enough cleared funds in the account to cover it. Additional justifications for not honoring a check include: 

    1. The account holder instructs the bank not to pay the cheque, which is known as a stopped cheque; the account holder's funds are frozen; 
    2. the account does not actually exist because a false cheque was presented; the cheque's date is outside the time frame allowed by law; 
    3. the signature on the cheque does not match the signature on file of the account holder or another authorized signatory on the account; 
    4. or the cheque is damaged.

      There are also further justifications for payment refusal as per Bangladeshi law.

    Under Negotiable instrument is Section 138 a bailable offence?

    A violation of Section 138 constitutes a non-cognizable offense. Additionally, it is an offense that is subject to bail. Section 138 violation will consist of the following elements: Drawing a check by the drawer to pay off a debt or other obligation

    Is it a criminal offence when a cheque gets bounced in Bangladesh?

    A violation of Section 138 constitutes a non-cognizable criminal offense. Additionally, it is an offense that is subject to bail. Section 138 violation will consist of the following elements: Drawing a check by the drawer to pay off a debt or other obligations.

    Can I file cheque bounce case after 30 days under NI 138?

    A complainant and/or the person holding the check in good faith are obligated under Section 138(b) of the Act to notify the accused within 30 days of receiving notification from the bank that the check or other instrument has been dishonored.

    What is the limitation or the time limit of filing a 138 complaint in Bangladesh?

    30 days 

    The day the complainant receives notification from the bank that the disputed check has been returned unpaid must be removed when calculating the 30-day limitation period required by Section 138(b) N.I. Act for the issuance of a valid legal notice.

    Can a cheque bounce case be be filed together be filed under both s138 and 420 PC?

    Yes.

    They can both be filed jointly. Cheating is a crime under S. 420, whereas dishonoring a check is a crime under S. 138 of the NI Act.

    When the amount of a check exceeds the amount owed, is 138 of the NI Act violated?

    The check must be used to discharge all or a portion of the debt in order to comply with Section 138 of the Negotiable Instruments Act of 1881. Section 138 cannot be invoked if the amount of the check exceeds the amount of the debt.

    Infographics
    Best Cheque Dishonor Law Firm In Bangladesh | Tahmidur Rahman
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    Author’s Bio
    Barrister Tahmidur Rahman

    Barrister Tahmidur Rahman is a Bangladeshi lawyer, businessman, and engineer. He is reportedly the first Bangladeshi to simultaneously qualify as a lawyer and an Engineer, while graduating from two different universities at the same time. He was appointed as the CFO of Matte IT LTD and Altersense in 2018 and the Name Partner of Tahmidur Rahman Remura Wahid LP and Tahmidur Rahman Remura in 2023 , two of the most renowned corporate law firms in Bangladesh. He is also working as an executive advisor to Alam Group which is considered in one of the biggest trading companies and grain importers in Bangladesh. Website Tahmidur Rahman Native name Tahmidur Rahman (তাহমিদুর রহমান) Born 6 July 1995 (age 27)Dhaka, Bangladesh Residence Dhaka, Bangladesh Nationality Bangladeshi Education City, University of LondonThe Honourable Society of Lincolns InnNorth South UniversityUniversity of LondonNotre Dame CollegeAdamjee Cantonment Public School Occupation Lawyer Years active 2018- present Known for Lawyer, Engineer, Entrepreneur Home town Gulshan, Dhaka Height 5.10" https://tahmidurrahman.com/ Contents [hide]  1 Early Life 2 Career 3 Personal Life 4 Awards 5 References 6 External links Early Life Tahmidur Rahman was born in Dhaka, Bangladesh in July 6, 1995. He is the middle child of M.A Monsur and Sazia Afrin Ivy. He grew up in Dhaka Cantonment, before moving to United Kingdom to pursue higher studies in 2020. He later came back to Bangladesh to pursue the legal profession in his homeland. Career Barrister Tahmidur Rahman is widely credited with being the first provider of transaction oriented legal web toolkit to his clients in Bangladesh, which was initially modelled after CC Draft. He also leads TRW's Corporate Commercial Practice and became one of the youngest Partner in the history of the firm in 2023 at the age of 25. His areas of expertise include mergers and acquisitions, FDI in Bangladesh, banking, insurance, joint ventures, corporate restructuring, private equity , tax, family, and fund formation. Tahmidur has spent over a half-decade in the legal profession with some of Bangladesh's leading corporate law firms, and has a diverse and all-encompassing client portfolio. Tahmidur has extensive experience in transactions in a variety of industries and advises clients on all aspects of a transaction, from structuring to exit strategies. Tahmidur is regarded as a Foreign Direct Investment specialist in Bangladesh, having designed several high profile entry strategies for his clients in 2021. He is also the host of Bangladeshi Experience, a lead fin-tech podcast in Bangladesh. Furthermore, he is the CEO of one of the first venture backed Real Estate portfolio companies in Bangladesh, named Lands BD. Personal Life Tahmidur Rahman is married to Barrister Remura Mahbub Remura, who is also a Barrister and got called to the Bar of England and Wales in 2023 alongside Tahmidur and this was the first occasion in the history of the Inn, where a married couple, both the husband and wife got called to the bar at the same time. She is also working as the name partner of Tahmidur Rahman Remura and the acting chairman of Tahrem Group. Awards 10 Best Attorneys - BD Law Firms [1] Top 100 FDI lawyers in Bangladesh [2] Best Law Firm in Bangladesh [3] Top 3 Barrister in Bangladesh [4]

    Email: [email protected]

    Job Title: Name Partner

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