Bangladesh

Legal form:

LLC, LLP, PLC

Delivery:

6 weeks

Price: $

2500

Payment methods:

Requirements:

Document checklist:

Local legal address (Handled by B2B Hub)

1.Passport
2.Proof of Residence

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Inquiry

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Registrar

Organization name

Abbreviation

Country

Bangladesh

Phone

Listing

Open website

About

Bangladesh

Capital
Official languages
Population
Currency

ISO 4217

Dhaka

Bengali

164 million

Bangladeshi Taka

BDT

FAQ

Q: What are the types of companies that can be formed in Bangladesh?

A: The most common types of companies in Bangladesh are Private Limited Companies, Public Limited Companies, and Branch Offices.

Q: What are the requirements to form a company in Bangladesh?

A: The requirements for forming a company in Bangladesh include at least two directors and two shareholders, a minimum paid-up capital of BDT 1 (approximately USD 0.01) for a Private Limited Company, and a registered office address in Bangladesh.

Q: How long does it take to register a company in Bangladesh?

A: The registration process for a company in Bangladesh can take approximately 7-10 business days.

Q: What are the documents required to register a company in Bangladesh?

A: The documents required include the company's Memorandum and Articles of Association, details of the company's directors and shareholders, a registered office address, and payment of the relevant registration fees.

Q: Can foreigners own a company in Bangladesh?

A: Yes, foreigners can own and operate a company in Bangladesh. However, there may be restrictions on foreign ownership in certain industries.

Q: What are the tax implications of forming a company in Bangladesh?

A: Companies in Bangladesh are subject to corporate income tax, which is currently set at a rate of 25%. There may also be other taxes and fees depending on the industry in which the company operates.

Q: What are the ongoing compliance requirements for a company in Bangladesh?

A: Companies in Bangladesh are required to file annual tax returns, maintain accurate financial records, and comply with various reporting and disclosure requirements. There may also be industry-specific regulations and compliance requirements.

Q: Can I use my Bangladeshi company to do business outside of Bangladesh?

A: Yes, you can use your Bangladeshi company to conduct business anywhere in the world, as long as you comply with the relevant laws and regulations in those jurisdictions. However, you may need to obtain additional licenses and permits to operate in certain countries.

Economy

Bangladesh has seen impressive economic growth in recent years, with a GDP growth rate of 7.86% in 2019. This is the highest growth rate in South Asia and the second highest in the world. The country has also seen a steady increase in its exports, with exports reaching $41.5 billion in 2019, a 7.2% increase from the previous year. The country has also seen a steady increase in its foreign direct investment, with FDI reaching $3.2 billion in 2019, a 7.3% increase from the previous year. The country has also seen a steady increase in its remittances, with remittances reaching $16.4 billion in 2019, a 7.3% increase from the previous year. The country has also seen a steady increase in its per capita income, with per capita income reaching $1,876 in 2019, a 7.2% increase from the previous year. All of these factors have contributed to Bangladesh's impressive economic growth in recent years.

Taxation

In Bangladesh, taxes are imposed on both individuals and corporations. The National Board of Revenue (NBR) is the central authority responsible for tax administration.

Corporate Tax:

- The corporate tax rate in Bangladesh is 25% for domestic companies and 35% for foreign companies.

- A 2% additional tax is levied on the income of publicly traded companies.

- Companies operating in the Export Processing Zone (EPZ) are exempt from corporate tax for the first 10 years, and then pay a reduced rate of 10% for the next 12 years.

- The tax year in Bangladesh runs from July 1 to June 30 of the following year.

Personal Income Tax:

- The personal income tax rate in Bangladesh ranges from 0% to 30%, depending on the income level.

- Individuals are exempt from paying tax on the first BDT 250,000 of their annual income.

- The tax year in Bangladesh runs from July 1 to June 30 of the following year.

Value Added Tax (VAT):

- The VAT rate in Bangladesh is 15%.

- Certain goods and services are exempt from VAT or subject to a reduced rate of 5%.

- The VAT registration threshold is BDT 3 million per year.

Process and Calendar for Payments:

- Companies and individuals are required to file their tax returns within the prescribed deadline.

- The deadline for filing tax returns in Bangladesh is September 30 of each year for individuals and November 30 for companies.

- Taxes are generally paid in quarterly installments, with the first payment due on September 15 and subsequent payments due on December 15, March 15, and June 15 of each year.

- Late payment of taxes may result in penalties and interest charges.

Company incorporation application form

Representative

Chosen company name

Main business activity

Legal address of director

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