How Foreign Investors Can Incorporate Companies In Bangladesh?
The phrase "incorporation" refers to the formation of a company. A certificate of registration will be issued once this
Formation Of A Company Explained in 500 Words
The phrase "incorporation" refers to the formation of a company. A certificate of registration will be issued once this process is completed. An incorporated business has the legal position of being a separate legal entity from its owners.
Fact: If you are self-employed and own a business, it is not a legal entity until it is incorporated and granted a registered business name. Until this happens, you, as a self-employed person, are the legal owner of the firm and are consequently liable for any liabilities incurred by it.
PRINCIPLE POINTS:
- A corporation is an organisation that exists in its own right, separate from its owners. Many of the same legal rights and responsibilities apply to incorporated entities as they do to individuals.
- Limited liability is a crucial feature of corporation incorporation, as it ensures that its shareholders are not personally liable for the company's debts.
- A person or a group of people with a common aim might perform offshore company registration. Making a profit isn't always a requirement.
Let’s See How Beneficial Incorporated Businesses Are
One may think incorporating a business means going through a hefty amount of paperwork, spending a way lot of money and resources. But not only it’s not true but also it is totally opposite of that. If we look at the ratio between incorporated companies and the revenue they make, it will get clearer:
Our Client Story: A Case Study
Our client company is based in the Philippines. The company wanted to open up a liaison business here in bangladesh, planning to launch new products based on our market. The challenges they were facing are stated below:
- Quality and Standards: There is no quality assurance policy or enough support structures in place to help all businesses grasp quality principles and develop quality awareness in their business practices.
- Marketing: Foreign enterprises that have been incorporated do not have sufficient marketing capabilities or a network.
- Shortage of Skilled Workers: Incorporated businesses do not have sufficient marketing capabilities or a network.
- Physical Infrastructure: Bangladesh's physical infrastructure for formation of company is in poor condition.
- Geographical Disadvantage: Bangladesh is geographically isolated from more profitable global markets such as the United States and Europe.
The Assistance We Provided To Make Our Client Incorporated
The company incorporation services we provided our client with are described below:
COMPANY
LICENCES
AUTHORITY
Private Limited
Incorporation
RJSC
2 Share Holders
Trade License
City Corporation
Min. Capital 50,000 BDT
Tax Identification Number
NBR
7-10 Days Timeline
Value Added Tax
NBR Local Office
Cost: 90k to 400k BDT
Chamber of Commerce
DCCI, BGMEA, IBCC
Subsidiary Allowed
Export/Import
Commerce Department
100% Share Held By Foreigners
Work Permit/Visa
BOI/EPZA
Final Words
Many people believe that offshore company registration is a difficult and time-consuming process. Having said that, it is by no means a simple task, but the benefits far surpass the work involved. In any case, if business owners run into any challenges or unexpected obstacles when forming a business, they may always turn to us for assistance.
