Trade License Process in Bangladesh – How to get one in the best possible way
Trade License
following your private limited company’s successful registration in Bangladesh. Before starting any business, the company needs to get a trade license. Another name for a trade license is a business permit.
In Bangladesh, a private limited company with a trade license is permitted to operate in the particular industry covered by the license. The company must make sure that all applicable trade licenses are obtained if it engages in multiple commercial activities.
All business forms, including partnerships, limited liability corporations, and sole proprietorships, must get a trade license. The business must apply for a trade license that is appropriate for its operations and select the appropriate application form based on where in Bangladesh the firm is located.
The Bangladesh Companies Act of 1994 describes the steps and prerequisites for obtaining a trading license. The standards have also been further specified in the city corporation code of 1983 and the municipal taxation ordinance of 1986.
Types of Bangladeshi trade licenses
1 General Trade License
A general trade license can be applied for by any kind of eligible small or medium-sized business. To be eligible for the general trade license, businesses must reach the designated revenue and transaction criteria. There are some exceptions, including in the case of commercial or manufacturing enterprises.
How to Apply for a General Trade License
Getting the form
The necessary application form can be obtained by the applicant by visiting the Union Parishad, City Corporation, or Municipal Corporation office.
2. Commercial TRADE LICENSE
A company wants to engage in commercial activities like superstores, retail establishments, and various suppliers. The business may be incorporated under a person’s name or as a distinct legal entity.
How to Apply for a Commercial Trade License
Getting the form
Depending on the kind of business, Dhaka City Corporation (DCC) grants two different kinds of commercial trade licenses. The “K” form must be completed by a business company. The K form is used by all ten zone offices, however the entity has to pick it up from its own zonal office. The form is distinguished from other zones by a seal and the initials of the officer who sold it. The form costs Tk. 10.00.
3. LICENSE FOR MANUFACTURING Companies
Any business that runs a production facility, including factories and industries, is eligible to apply for a manufacturing trade license. The majority of Bangladesh’s largest companies are covered by this license. This group includes any business that manufactures and sells goods.
How To Apply For A Manufacturing Trade Licence
Getting the form
The manufacturing firm’s application must be submitted at the DCC zonal office, where the “I” form for TK.10 must be acquired.
The application procedure for a Bangladeshi e-trade license
The E-Trade licensing system allows for the digital acquisition of all three types of trade licenses. Under their purview, the relevant zonal offices and city corporations shall grant trade permits.
The candidate must go to the local government division’s E-Trade License website and choose the “New Registration” option. Following that, a form with the applicant’s personal data will appear on the page. A form including details about the sort of business will thereafter be available.
The applicant needs to enter the right information.
A digital copy of the necessary paperwork must be uploaded with the application, depending on the kind of trade license. We’ll send the application for validation. In order for the applicant to track the status of their application, they will simultaneously obtain a tracking number.
The online copy of the Trade License can be obtained from the same website after verification and payment of the necessary cost.
BANGLADESH TRADE LICENSE RENEWAL PROCEDURE
How to Renew Your Trade License
Taking the demand bill out of the licensing file
The licensing supervisor provides the business handbook, fills out the demand bill, and verifies the expired trade license. The demand bill is a booklet with four pages. They both include the identical information, with one page dedicated to the business and another to the bank.
Documents needed in Bangladesh to obtain a trade license
- Three sizes of passports pictures of the company’s proprietor
- If the business owner is a foreign national, a copy of their passport
- Details needed to complete the form
- Ownership records or current documents
- A non-judicial stamp of Tk. 150 for following the city’s rules Company
- Articles of association and memorandum of association for a limited company; partnership agreement if the owner of the firm is a partnership TIN A person’s and the business organization’s certificate
- In the event of a limited company, the certificate of incorporation
- A copy of the company’s bank solvency certificate
- When applying for a manufacturing trade license, you must have a work permit from the Bangladesh Investment Development Authority (BIDA) and a license from the Civil Defense and Fire Services.
HOW TO GET A TRADE LICENSE IN BANGLADESH WITH THE ASSISTANCE OF TRW law firm
You must obtain an appropriate trading license for your company if you want to open for business in Bangladesh. In Bangladesh, Trw law firm has assisted numerous companies in obtaining trade licenses.
To find out the precise license requirements for your business in Bangladesh, get in touch with our staff. We will assist you in applying for the trading license that is appropriate for your enterprise.