Establish a professional business address for your company in a globally renowned location and step into the international market.
Company Registration in Bangladesh – Procedure and Benefits
A common question from international clients is how to set up a branch office or other serviced office space in Bangladesh. As a result, our experts will walk you through the process of opening a register office in Bangladesh.
Obtaining BIDA approval is the first step in opening a branch office in Bangladesh.
Register Branch Office
The final step is to register the branch office with the RJSC after receiving clearance.
Open Bank Account
After gaining approval, the next step is to open a bank account in Bangladesh.
An application must be submitted to the local city corporation to get a trade license.
Representative Office for Business Incorporation Registration in Dhaka
Bangladesh Branch Office Open as Liaison or Representative
A dependent form of the firm is a branch office, which means that its activities are totally manage by the parent company in terms of decision-making. A branch or liaison office provides a high level of authority in many nations worldwide.
Get The Most Cost-Effective Locations For Branch Office
When deciding which country to conduct a business in, cost is usually a major consideration. When comparing the costs of forming a branch vs. a subsidiary in many areas of Bangladesh, it will be considerably more cost effective to open a branch firm because there are no share capital requirements. Maintenance costs are also crucial to consider; for example, when creating a branch office in Bangladesh, the accounting standards will be simpler.
When compared to a subsidiary company, a branch office is typically a superior alternative in terms of taxation. A branch office will be cover by any double tax treaties that a country has signed, and no country in the world has not signed at least one double tax treaty.
Grow & Expand Your Business Globally
Expanding your business internationally can offer numerous advantages, ranging from increased brand visibility to lower business risk. Opening a register office can provide visibility and brand exposure, both of which can help a company’s earnings. By allowing companies to test products in new markets, a branch office can lessen the risk of doing business in the host country.
There are several nations where having a register office has a significant advantage in terms of corporate recognition. Branch offices can be set up under relatively favorable conditions in offshore countries such as Bangladesh. For example, global banks can open branches in Bangladesh and take advantage of the favorable financial industry legislation.
Prepare For Your Success With Proper Market Access
Be a part of one of the world’s largest and most sophisticated markets, with any country conforming to a set of business and immigration norms for safety and convenience.
Everything You Need To Get To Work
When a company opens a branch office in Bangladesh, it will be able to target new customers and introduce new products and services. The opportunity to contact a new group of customers can create revenue, but entrepreneurs are often thrilled to discover that they can access marketplaces in neighboring countries.
Branch offices are establish solely for the purpose of expanding business coverage and facilitating the distribution of goods and services. In a foreign country, branches and any entity must obey the norms and regulations of that country.
Setting up a representative or branch office in Bangladesh
We upload all documents to BIDA’s online portal, and hard copies should be supply afterwards. BIDA staff will submit the application and documentation to the Inter-Ministerial Committee after thoroughly reviewing all materials. The Committee will go over the documents and may request further information or a physical presentation. The committee will provide their permission if they are satisfy. The Inter-Ministerial Committee meets twice a month on average. The typical time frame is one month or less.
Open Foreign Branch Office & Step Into Global Market
A Branch Office provides the benefits of easy service and simple closing. Nonetheless, because exchange control norms are rigidly enforce, a Branch may not provide the optimal structure for a foreign firm’s expansion/diversification goals. With prior BIDA clearance, a foreign company’s register office can engage in commercial activities. With the prior consent of the Inter-Ministerial Committee and appropriate reason and supporting documents, a register office may have a local source of revenue from a permitted business sector in Bangladesh.
FAQ For Foreign Branch Office Services
Because the entire process is digitize, registering a register office in Bangladesh can be complete in a couple of hours. The total process, however, can take anything from one to several days.
According to the Bangladesh Companies Act, each branch office must meet the minimum statutory standards. To learn more from our specialists, please contact us.
After performing business in Bangladesh for the first time, all foreign organizations are given a 90-day grace period to register. Late filing fees will not be impose to an entity that registers during the grace period.
The initial step is to transfer all accounts to the main office, with distinct entries for revenue items and assets and liability being sent. The second approach is preparing the Trading and Profit and Loss Account and then transferring the net profit or loss to the head office account.