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How to set up a Private Limited Company in Bangladesh

A new era of corporate culture means that setting up a company for carrying out a business is the best way forward in opposed to proprietorship or partnership format. In this excerpt let's shed some light into the procedure and

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How to set up a Private Limited Company in Bangladesh

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  1. How to set up a Private Limited Company in Bangladesh

  2. The new era of corporate culture means that setting up a business to do business is the best way to achieve ownership or collaboration. In this step, we will introduce the procedure and documents necessary to establish the company. In the perspective of would be the best option to do business because it offers a multitude of tools, including tax relief, a legitimate and easy way to raise capital, business continuity, despite the absence of its founder, a simple transfer Stock or property rights, limited liability of shareholders, using certain business discounts that would otherwise not be available to a consumer / entrepreneur, brand for access to the subject of the proprietary name, easy international transactions, etc.

  3. The Limited Liability Company of Bangladesh is a separate legal entity and the shareholders are not liable for the debts of the company that exceed their contribution. In 1994, the Companies Law (Registry and Management Law of Bangladesh companies), Any two people (foreign or local) over 18 years of age with good reason and who are not unqualified under any law in Bangladesh. At least two members and no more than 50 members may establish a limited liability company. There are three different steps in the process of setting up a company registration in Bangladesh: a) Approval of names; (b) The opening of a bank account and the payment of the capital disbursed; and finally c) Company registration.

  4. All these actions must be carried out in accordance with the Law of Companies and the corresponding registry office of the company are the registrar of companies and companies. Name: This is a simple procedure in which you can obtain an RJSC certificate by sending an application to the RJSC website and publishing 600 BDT to ensure that the second company is not identical to the one you chose for your business. The registration procedure of the Company must be completed within 30 days after the receipt of the "Certificate of approval". Bank configuration: Opening of a bank account in the name of the proposed company and obtaining a bank solvency certificate (if applicable).

  5. Documents required for company registration: documents confirming the PRIVATE registration application (1994 Company Law) Statutes and statutes, original + 2 copies (The government memorandum of understanding memorandum (MoU) signed by the government can be found in the 1994 Annual Company Law and the Bylaws [AoA]). 2. Form completed I: Statement of company registration. 3. Completed Form VI: Notification of the registered offi 5. Form X completed: List of people who accept to be directors. 6. Form XII completed: information about directors, executives and managers.ce. 4. Form IX completed: the director's consent to act.

  6. 7. Evidence of authorization of names. 8. Information about the shareholder (national identity / passport information) 9. Director's information (including the tax identification number) 10. Special adhesive stamps and collection of treasury stamps (photocopy) of the Challan treasure from the bank of Bangladesh. Registration: After receiving all the previous documents, if the Secretary of RJSC is satisfied, he will sign and approve the documents and will issue (i) the certificate of establishment that the company will bring; ii) MoA and AoA and iii) Model XII.

  7. Official procedures after registration: After registration and receipt of the RJSC registration certificate, a private limited company may start its activities immediately. However, you will also have to request a commercial license and a tax identification number. Depending on your business, you may need more business licenses. Company registration costs: the cost of registering a limited liability company can start at 5000BDT and can reach 27,000 BDT (company capital up to 50 BDT lac). However, these costs are limited to stamps and government fees and do not include legal fees and other technical and incidental costs.

  8. The measures mentioned above describe the procedure to establish a limited liability company in Bangladesh. Compared to a public limited company, a limited liability company is much more desirable than other business formats for both an experienced entrepreneur and entrepreneurs. Anyone wishing to create a private limited company can follow the steps above; However, you always have the opportunity to consult a lawyer for professional advice on your needs and needs. Nasreen Sultana Miley lawyer is a lawyer at the Supreme Court of Bangladesh. He also teaches Corporate Law at the State University of Bangladesh.

  9. Thank You

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