Foreign Company Formation: An entrepreneur has to follow nine specific procedures and legal steps to set up a business in Bangladesh. At the very first, the entrepreneur has to apply to the Registrar of Joint Stock Companies and Firms (RJSC) for Name Clearance Certificate. After receiving the certificate, the next step is to pay stamp duty at a Designated Bank and again apply to RJSC for registration. Then the company makes a seal and open a bank account and then apply for trade license to respective City Corporation or Municipal Corporations. After completing all those procedures, the entrepreneur has to approach to the National Board of Revenue (NBR) for receiving a TIN Certificate and registering with the Customs, Excise, and VAT Commissioner-ate. Finally, the investor requires to apply to the Bangladesh Investment Development Authority (BIDA) for registration.
- Firstly, Applicant fills in the online application
- Secondly, Opening an E-account an RJSC website
- A preliminary name search on the RJSC website
- Payment of fees to the designated Bank
- Submits the money receipt
- Obtain the name clearance certificate
- A print out of the name clearance certificate
- Original copy of Money Receipt
Pay Stamp Duty at a Designated Bank
Payment of stamp duty is made to the account of the Treasury at the BRAC Bank. According to the Stamp Act, 1899 as amended on June 30th, 2012.
For authorized share capital of up to BDT 1,000,000, the total stamp duty fees are BDT 4,000.
These include BDT 3,000 for affixing stamps on the Articles of Association and BDT 1,000 for stamps on the Memorandum of Association. In addition, a certified copy of each document costs BDT 50.
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