Foreign Companies to Open Liaison or Representative
Bangladesh is becoming one of the world’s fastest-growing foreign corporate entity hubs, given to a liberal industrial strategy that offers foreign investors a multitude of attractive options.
Bangladesh is making a strong mark on the world map for its economic expansion.
Spend less than your head office and get more work done.
Expand your compan beyond country borders and make your mark abroad.
Basically done work with another liaison office.
Make your mark on the international market and know the latest about your industry.
A liaison office can provide high level of authority in any nations worldwide.
Open and Register a Liaison Office, Project Office & Branch office in Bangladesh.
Setup a Liaison Office Bangladesh as a Procedure to Open a Liaison Company.
Permission from the Bangladesh Investment Development Authority (BIDA) is necessary to open a Liaison Office. What must be done now to obtain BIDA’s permission? The foreign investor must submit an application in the prescribed format together with the following papers. It is important to remember that the documents must be attested by the Bangladesh Embassy/High Commission in the country of origin, or the country’s Apex Chamber of Commerce.
Cost For Permission
Expert Advisory For Every Step Of The Way
After receiving BIDA permission, a bank account must be open in any Bangladeshi bank. At this stage, a bank account is required because a quantity of foreign exchange equivalent to US$ 50,000 (fifty thousand dollars) or more must be brought into Bangladesh as inward remittance. This must be done within 2 (two) months of the BIDA permission being issue.
In Bangladesh, establishing a branch office typically takes between 60 and 90 days (sixty to ninety). The remaining requirements are important and also will take around two weeks.
Get Approval From the Central Bank Of Bangladesh
The Foreign Exchange Regulations Act 1947 was recently revised by the Bangladesh Parliament. The requirement for Bangladesh Bank approval under 18B has now been removing. According to the modification, the Liaison Office must report to the Central Bank of Bangladesh after gaining approval from BIDA. Within 30 (thirty) days of the approval, such a report shall be submit.
The branch office must report to the Central Bank of Bangladesh after gaining approval.
Prepare For Your Success With Perfect Office Space
Unlike our competitors, we provide our clients with 5 star business addresses, a receptionist who answers calls in their company name, and a landline number that is entirely provided by us – all in a modern shared space with excellent views and ample natural light.
Register For Your Liaison Office In Bangladesh
Finally, after receiving clearance from both Bangladesh Bank and BIDA, the Liaison office must be register with the RJSC. Every step of the way, our knowledgeable and also licensed experts will assist you. Our aim is to ensure that our clients receive a quick, efficient, and cost-effective service.
Small firms are understandably apprehensive to make long-term commitments and also open a liaison office. However, you can rent any space for as long as you need it with our flexible packages.
Setup Liaison Office Affordably
One month is the average time it takes to submit and receive approval. However, BIDA may request physical representation of the documents, which could lengthen the procedure. (Bangladesh branch office registration) The government’s cost of obtaining BIDA permission is USD 300. Our specialists, on the other hand, know how to make the procedure easier and more cost-effective for you. For the opening of a branch office, no minimum paid-up capital is required; nevertheless, a remittance of US$ 50,000 must be made within 2 (two) months of the date of issuing of the BIDA letter of authorization.
Foreign Company Starting a Business in Dhaka
It is necessary for the branch office to have a unique Business Identification Number in order to conduct normal business operations in Bangladesh after it has been establish (BIN). A VAT registration certificate must be receive from the Department of the National Board of Revenue in order to obtain a Business Identification Number (NBR). In Bangladesh, establishing a branch office typically takes between 60 and 90 days (sixty to ninety). The remaining requirements are important and will take around two weeks. We do, however, know how to make things go faster.
FAQ For Setup Liaison Office
Processing dates for Liaison Office applications are 15-20 days and for Branch applications are 20-30 days if all paperwork is complete.
No. If the Liaison Office is set up for the purpose of representation, however, it can forward all potential commercial contacts to the foreign company.
Financial and legal books, such as balance sheets and business books, are not require of liaison offices. Similarly, there is no need for a trade registration. Instead, Liaison Offices must report their actions once a year to the Ministry of Industry and Technology.
VAT is not deductible for liaison offices. In their B2B (business to business) dealings, they must pay VAT. They do not, however, required to report VAT transactions to the Tax Office, unlike other business kinds.