Monday, December 01, 2008

Forming a Company in Bangladesh

Like the road system of Bangladesh, the path to company formation is fraught with potholes, u-turns, and unpaved roads, but for the intrepid entrepreneur starting a business here can be very rewarding – both economically and personally. Foreigners are allowed to 100% own land and companies and they can repatriate 100% of their profits – a rare financial find in the developing world. Businesses also bring jobs to the country’s 150 million inhabitants, many of whom live on less than a dollar a day.

Since forming a company in Bangladesh is a complicated process, I have decided to document the process in the hopes of saving the next entrepreneur a bit of time navigating through the system.

I will use this as the index page for my blog entries so others will be able to link to this single blog entry and will be able to easily find all of my other posts on the subject. I will update this page whenever I add a new entry. If any one else has any other tips that they would like to add, please feel free to add them here.

Company Formation in Bangladesh:

Company Formation Part I - 5/8/08
Company Formation Part II - 5/26/08
Company Formation Part III - 6/17/08
Company Formation Part IV - 2/12/09
Company Formation Part V - 5/17/09
Company Formation Part VI - 6/1/09
Company Formation Part VII - 3/18/10

In Part 1 I cover the following things:
  1. Starting the process
  2. The different types of companies in Bangladesh
  3. Forming/ incorporating a company
  4. Registering with the Registrar of Joint Stock Companies
  5. Obtaining encashment certificates
In Part 2 I cover the following things:
  1. Steps you need to take to form a company (from A to Z!)
  2. What order everything needs to be submitted in
In Part 3 I cover the following things:
  1. "Commercial Side" vs. "Industrial Side" of the Bangladesh Board of Investment
  2. Opening a corporate bank account
  3. "Non-operating" vs. "Operating" bank accounts
In Part 4 I cover the following things:
  1. BOI Registration
  2. Fees for BOI Registration
  3. Getting a Bank Draft
  4. Getting a Tax ID Number (TIN)
  5. Getting a Trade License
  6. Land requirement of BOI Registration
In Part 5 I cover the following things:
  1. Investor Visa Application Process
  2. Work Permit Application Process
  3. Finally Opening Your Bank Account!
In Part 6 I cover the following things:
  1. Amending Your BOI Registration Letter
In Part 7 I cover the following things:
  1. First Annual General Meetings
  2. Overseas Document Attestation
  3. Annual RJSC Filing
  4. Filing Documents with the Registrar of Joint Stock Companies (RJSC)
  5. Audited Financials

3 Comments:

At Monday, April 05, 2010 10:47:00 AM, Blogger M Jahirul said...

Kudsos for taking the initiaitve to open an eco resort in Jesore. There is much to learn from the detailed description of how to open and operate a conpmany in Bangladesh.

All best.
Jahir

 
At Monday, April 05, 2010 10:50:00 AM, Blogger M Jahirul said...

Kudos for taking the initiative to open an eco resort in Jessore. There is much to learn from the detailed description of how to open and operate a company in Bangladesh.

All best.

Jahir

 
At Sunday, January 16, 2011 10:20:00 AM, Blogger Tofazzul said...

Hi Kristin-

Congratulations on everything you have done so far! I also thank you for sharing your experience during the process of establishing your project near the Sundarban mangrove forest. This is useful information particularly for the people engaged in serving FDI clients in Bangladesh.

I hope to hear more from you on various topics. Wishing you all the best!

Regards.

Tofazzul Hussain, FCA

 

Post a Comment

Links to this post:

Create a Link

<< Home