Overview
Bangladesh, as a country, has its set of regulatory compliances for those who consider company formation in Bangladesh. In Bangladesh, most companies are registered as private limited liability companies. A private limited company is a private entity in Bangladesh. This means that shareholders won’t be liable for any debt of a company beyond their share capital contribution.
Formation process
The following is the procedural process of registration:
You should first attain a name clearance for the proposed business name. This can be done on an online platform. You will get a bank statement which you will sign after paying Taka 600 to the specified bank;
Drafting Association Article {AoA} and Association Memorandum{MoA} is vital in Bangladesh. The relevant RSJC compliance requirements should accompany this. This requires a reputable law firm;
Opening and bringing in the paid-up investment bank account. Open a bank account with any bank in Bangladesh with your suggested name of the business. Remit cash equal shares in the report after opening a foreigner owned account. The bank will then issue the Encashment Certificate, which needs to be incorporated by RJSC. The step applies when foreign shareholding is held by the business being suggested;
Submit your documents to RJSC. Provide all the necessary data by filling form Ix and the subscriber page. After completion of the whole process of paying registration charges and stamp duty charges, you will be issued with a bank payment slip and a stamp duty;
Now you need to do a follow up with the RJSC to get the certificate of incorporation. After thoroughly checking the papers and data to their satisfaction with the RJSC, you will be issued with the digitally signed incorporation certificates {MoA and AoA} and form XII via your email address.
Documentation package
The following are the documents issued by the RJSC:
Incorporation certificates: RJSC is responsible for the issuance of the certificate of incorporation. The certificates will indicate business name, share capital and date of incorporation;
Form xii which includes the company’s director list;
Certified copies of Memorandum of Association and Article of Association;
Share certificate for each shareholder;
Company seal.
The annual general meeting should be carried every year within eighteen months of the incorporation of the business. Not more than fifteen months can pass between one general meeting and another.
Useful information
In case there are any changes in the board of directors or shareholding structures. A corresponding return should be submitted to RJSC within the specified period.You may need to get more permits depending on your company business.
The whole company formation process and incorporation of the business in Bangladesh requires adequate professional support from a reputable law firm. This will enable you to reach the necessary objective of your prospective company.
Would you like to order company formation in Bangladesh please contact our specialists!