Private Company or Limited Company Registration in Bangladesh
Limited or private company registration in Bangladesh offers numerous benefits for entrepreneurs looking to grow their businesses in a stable and organized manner or sole proprietor businesses looking to expand their operations. In this page, we'll cover some key aspects of limited/private companies and some compelling reasons why entrepreneurs should register their commercial venture as a private or limited company:
A limited or private company is a distinct legal entity separate from its owners, providing them with limited liability protection. This business structure is ideal for entrepreneurs seeking a more formal organization, attracting investors, and separating their personal assets from their business liabilities.
Advantages of a Limited/Private Company
Limited liability protection: By registering as a limited or private company, you can enjoy limited liability protection, meaning that your personal assets are separate from your business assets, and not at risk in the event of legal issues or business failure.
Professional image and credibility: Registering as a limited or private company lends credibility and professionalism to your business, which can help you attract more clients and customers.
Access to funding: Limited or private companies are generally considered more stable and secure, which makes it easier to access funding from investors, banks, and other financial institutions.
Ease of management: Limited or private companies have a clear management structure and a defined set of rules and regulations, making it easier to manage the business and make important decisions. Our legal services can help you navigate this process and ensure compliance with all relevant laws and regulations.
Limited/Private Company Registration Process in Bangladesh
Our legal team will guide you through the following steps to register your limited/private company in Dhaka:
1. Choose a unique company name: Select a distinctive and original name that complies with Bangladesh's naming guidelines.
2. Draft the Memorandum and Articles of Association: Prepare these essential documents outlining your company's purpose, structure, and internal regulations.
3. Register with the Registrar of Joint Stock Companies and Firms (RJSC): Complete the registration process by submitting the required documents and paying the applicable fees.
4. Obtain a Taxpayer Identification Number (TIN) and register for VAT (if applicable): Register with the National Board of Revenue (NBR) to receive your TIN and VAT registration.
5. Open a corporate bank account: Establish a separate bank account for your company to manage its finances.
Related Legal Services for Limited/Private Companies
In addition to company registration, our legal experts provide a range of services for limited/private companies, including:
1. Corporate governance and compliance advisory
2. Drafting and reviewing contracts and agreements
3. Intellectual property protection and management
4. Employment law and labour regulation guidance
5. Mergers and acquisitions support
6. Dispute resolution and litigation assistance
Ongoing Support and Business Growth
As your business grows, our legal team will continue to provide support and advice to ensure your limited/private company remains compliant with all legal and regulatory requirements. We can also assist you in exploring potential business expansion options, such as opening new branches or entering strategic partnerships.
Get Started with Your Limited/Private Company Registration in Dhaka, Bangladesh
If you're ready to set up your limited/private company in Dhaka, Bangladesh, our experienced legal team is here to help. We'll guide you through the registration process, provide comprehensive legal services tailored to your unique business needs, and offer ongoing support to ensure your company's success. Contact us today to learn more about our services and take the first step towards launching your successful limited/private company.
How we help entrepreneurs and businesses with company registration services
Registering a business as a limited or private company in Bangladesh can be a complex and challenging process. At LACSB, we specialize in assisting entrepreneurs with this process and ensuring that their businesses are registered correctly and compliant with all relevant laws and regulations.
1. Expertise and Experience
Our legal team has extensive experience and expertise in the field of business registration and corporate law in Bangladesh. We are intimately familiar with the registration process, the legal requirements, and the challenges that entrepreneurs may face when registering their business as a limited or private company.
2. Customized Solutions
We understand that every business is unique and that the needs and requirements of entrepreneurs may vary. That's why we offer customized solutions that are tailored to the specific needs and goals of each client. Whether you are a small startup or a large corporation, we can provide personalized guidance and support that is designed to help you achieve your business objectives.
3. Streamlined Process
We understand that entrepreneurs are busy, and that time is of the essence when it comes to registering a business. That's why we offer a streamlined registration process that is designed to be as efficient and hassle-free as possible. Our legal team can handle all aspects of the registration process, from preparing and filing the necessary documentation to communicating with regulatory agencies and providing ongoing support.
4. Cost-Effective Solutions
We understand that entrepreneurs may be operating on a tight budget and that the cost of legal services can be a concern. That's why we offer cost-effective solutions that are designed to meet the needs of businesses of all sizes and budgets. We offer transparent pricing, with no hidden fees or charges, and we strive to provide the most value for our client's investment.
5. Clear Communication
We believe that clear communication is key to a successful partnership with our clients. That's why we prioritize open and transparent communication throughout the registration process. Our legal team is always available to answer questions, provide guidance, and keep clients informed about the progress of their registration.
6. Compliance with Legal Requirements
At our legal services, we prioritize compliance with all relevant legal requirements and regulations. We understand that non-compliance can result in legal issues, fines, and other negative consequences for businesses. That's why we ensure that every aspect of the registration process is compliant with the relevant laws and regulations, and we provide ongoing support to ensure that our clients remain compliant in the future.
7. Competitive Advantage
Registering a business as a limited or private company can provide a competitive advantage in the marketplace. Limited or private companies are perceived as more established, credible, and professional than sole proprietorships or partnerships. By registering as a limited or private company, entrepreneurs can establish a unique identity and build trust and credibility with the potential to expand.
Frequently asked questions about our company registration-related legal services
1. What are the minimum requirements for incorporating a private limited company in Bangladesh?
To incorporate a private limited company in Bangladesh, the following minimum requirements must be met:
1. At least two shareholders (maximum 50)
2. At least two directors (at least one should be a Bangladeshi citizen)
3. A registered office address within Bangladesh
4. A unique company name, which must be approved by the Registrar of Joint Stock Companies and Firms (RJSC)
5. A paid-up capital of at least BDT 1,00,000
6. Compliance with the requirements of the Companies Act 1994 and other relevant regulations
4. What are the annual compliance requirements for a private limited company in Bangladesh?
Private limited companies in Bangladesh must comply with the following annual requirements:
1. Hold at least one Annual General Meeting (AGM)
2. File annual financial statements and audit reports with RJSC
3. Submit annual income tax returns to the National Board of Revenue (NBR)
4. Renew the Trade License from the local city corporation or municipality
5. Comply with any sector-specific regulations, licenses, or permits
2. How long does it typically take to register a private limited company in Bangladesh?
The entire registration process for a private limited company in Bangladesh can take approximately 15-20 working days, provided that all required documents are submitted accurately and in a timely manner. The time frame includes name clearance, preparation of Memorandum and Articles of Association, digital signatures, and the registration process with RJSC.
5. Can a foreign individual or entity incorporate a private limited company in Bangladesh?
Yes, foreign individuals and entities can incorporate a private limited company in Bangladesh. They are required to have a minimum of two shareholders and two directors (at least one director should be a Bangladeshi citizen). Foreign investors must also obtain necessary permissions from the Bangladesh Investment Development Authority (BIDA) and follow the procedures specified for foreign investment.
3. What are the major steps to be taken for registering a private limited company in Bangladesh?
The major steps for registering a private limited company in Bangladesh are as follows:
1. Obtain a unique name clearance from RJSC
2. Prepare the Memorandum of Association and Articles of Association
3. Obtain digital signatures for the directors and shareholders
4. Pay the registration fees and stamp duties
5. Submit the required documents to RJSC
6. Obtain the Certificate of Incorporation from RJSC
7. Register for taxes, including VAT and income tax, and obtain relevant licenses and permits
6. How can our online legal service cater to both local and international clients seeking to establish a private company in Bangladesh?
Our online legal service provides comprehensive assistance for both local and international clients who want to set up a limited liability company in Bangladesh, regardless of the client's location. We offer:
1. Expert guidance on business registration processes and legal requirements
2. Assistance in obtaining necessary licenses, permits, and certifications
3. Access to a network of local professionals, including accountants, lawyers, and consultants
4. Convenient online communication, document submission, and payment options
5. Customized support to cater to clients' unique business needs and preferences.