In any country, a company registration process can seem quite stressful due to bureaucratic procedures and regulatory requirements. But with a clear understanding of the process, and if you have the support of the relevant authorities, it can be done easily.

If you are an entrepreneur and looking forward to expanding your business in South Asia, Bangladesh will be a perfect location to start your company. This article aims to guide with company registration in Bangladesh for foreign entrepreneurs. To ensure your business is set up for success in this market, we will walk you through each necessary phase for your company registration.

Why Should You Register Your Foreign Company in Bangladesh?
Registering and starting your foreign company in Bangladesh is beneficial for you from many aspects. Here is why you should register in Bangladesh :

● Strategic Graphic Location: Bangladesh is a perfect place to start your business in South Asia, as it has easy access to China, India, and all the ASEAN countries.

● Robust Economic Growth: With an increasing consumer demand, Bangladesh has been experiencing consistent economic growth over the years.

● Government Incentives For Foreign Investments: The government of Bangladesh offers various incentives like tax exemptions, duty-free import, profit repatriation, special economic zones, etc., to attract foreign investments.

How to Register for Foreign Entrepreneur's Company?
If you are interested in registering your company in Bangladesh, here is a full guide on how you can register your foreign entrepreneur's company :

Choose the Type of Business Entity
There are various types of entities foreign investors can establish in Bangladesh :

● Private Limited Company: Private ownership is the most common option for foreign entrepreneurship. This method allows 100% ownership to the owner of the business.

● Public Limited Company: A Public limited company is suitable for larger enterprises to go into a large-scale business. This method is for businesses that issue shares to be bought by the public and raise capital from them.

● Branch Office: A Branch office is an extension of the main company that does not manufacture in the branch office. But it can continue the business-related activities like sales, marketing, offering services, etc.

● Representative Office: A representative office can only use their company for research activities, conduct marketing, and liaison, but they can not generate any revenue there or any commercial contract.

Reserve a Company Name
The next step to register your foreign company is to name your company. The name should be unique and not held by any other company. To know if your desired name is taken or not, you can search in the online portal of the Registrar of Joint Stock Companies and Firms (RJSC).

After finding a suitable name, apply for a name reservation by submitting an online form and a fee to the RJSC. Once the RJSC approves your name according to their criteria, you will receive the name reservation certificate.

Open a Bank Account
The next step is to open a provisional bank account under your company name in a scheduled bank. Submit all the documents of your company to the bank.

Keep the initial paid-up capital in the bank. The bank will provide a certificate confirming the receipt of foreign currency. The bank account is for the suppliers and employee payments.

Prepare and Submit Incorporation Documents
Prepare all the necessary documents to submit to the RJSC. You need to prepare the drafting documents, which are the Memorandum of Association (MoA) and Articles of Association (AoA), with an outline of the company's objectives and operational guidelines.

Complete all the necessary forms that are required, submit the documents at the RJSC, and pay all the registration fees. RJSC will register your company if it receives all the documents and fees correctly.

Post-Incorporation Registrations
Once your company is registered, you need to have some additional licenses and registrations. You’ll need a trade license obtained from the local city corporation, a tax identification number, and a VAT identification number registered with the National Board of Revenue (NBR).

Also, if you want to avail investment incentives and necessary approvals, you need to register with BIDA.

Additional Licenses and Permits
Other than all the licenses and documents mentioned above, depending on your business type, you may need some additional licenses and permits such as: import-export license, fire safety certificate, environmental clearance certificate, membership in relevant trade bodies.

Ongoing Compliance Requirements
After registration, every company must file annual returns, prepare and audit financial statements, file tax returns to NBR regularly, comply with local labour law, and keep records of all the transactions and operations.

Conclusion
As a foreign entrepreneur, registering your company in a new market is a great step toward establishing a credible and operational presence. This process unlocks so many opportunities, including access to local customers, investors, and government incentives.

The registration process might seem a stressful task, but knowing all the important information can make it easier for you. By following the guide, you can register your foreign company and have a great start in the local market of Bangladesh.