Start a Bangladesh Company
Expand Your Business Legally With Our Branch Office Setup Services
To start a branch office setup in Bangladesh, an entrepreneur must follow nine specific procedures and legal steps. The entrepreneur must first apply for a Name Clearance Certificate from the Registrar of Joint Stock Companies and Firms (RJSC). Following receipt of the certificate, pay stamp duty at a Designated Bank and reapply for registration with RJSC. The company then creates a seal and opens a bank account before submitting an application for a trade license to the appropriate City Corporation or Municipal Corporation.
After completing all of these primary steps for branch office setup, the entrepreneur must visit the National Board of Revenue (NBR) to obtain a TIN Certificate and register with the Customs, Excise, and VAT Commissionerate. Finally, the investor must apply for registration with the Bangladesh Investment Development Authority (BIDA)
NetworkBD Helps To Accomplish Branch Office Process Without Any Hassles
NetworkBD’s Business Setup Services in Bangladesh provide you with a complete branch office setup. Our experts will assist you in completing the procedure with ease, thanks to their extensive understanding of business activities and skills. If you attempt to perform the surgery on your own, it will become an uphill battle. Don’t worry, the NetworkBD team is available to assist you with all aspects of establishing a branch office.
Branch office setup in Bangladesh, a country that is always growing and developing, you will be able to flip the tables in your favor. Your firm will thrive after you do a branch office setup here.
With the approval of the Board of Investment, a foreign company’s branch office setup can engage in commercial activities (BoI). Unlike a representative office, a branch office may have a local source of income from approved business activities in Bangladesh, with prior approval from the Inter-Ministerial Committee, proper justification, and sufficient supporting documents.
8 Legal Procedure For a Complete Branch Office Setup
Network BD is a leading firm in Bangladesh with extensive experience assisting large corporations and businesses in establishing branch or liaison offices in the country. A foreign investor must submit an application in the prescribed form along with the following documents, which must be attested by the Bangladesh Embassy/High Commission of the country of origin or the Apex Chamber of Commerce of the country of origin, to open a Branch office, Liaison office or Representative office:
- Completed, signed, and sealed prescribed application form
- The principal Company’s Memorandum of Association (MoA) and Articles of Association (AoA)
- The principal Company’s Certificate of Incorporation;
- The names and nationalities of the principal Company’s directors/promoters
- Board resolution to open a Bangladesh branch/liaison/representative office
- The principal company’s audited financial statements for the previous fiscal year to establish the branch offices.
- Proposed office organogram, indicating which positions will be filled by expatriates and locals
- On company letterhead, a list of the proposed office’s activities.
Appropriate Guideline And Procedures For Set Up a Branch Office Easily
According to the BOI Guidelines, the procedures for a branch office setup, Liaison office, and Representative office are nearly identical.
It should be noted that for branch office setup will be required to pay a fee of BDT 25,000 in order to receive the permission letter. This amount must be deposited via Treasury Chalan in any Bangladesh Bank or Sonali Bank branch.
After submitting the application, the applicant must present all original copies of the documents to the BOI. All documents for branch office setup must be submitted by an authorized person, who must also include the letter of authorization with the other documents.
The number of documents that must be submitted to the BOI in order to obtain a license to open a Branch office setup or Liaison Office may appear to be large, but the process is not difficult or time-consuming. The Applicant would need to gather the necessary information from the BOI office or the website. After that, he or she must create an online account and fill out the required information as specified by the BOI. If BOI determines that the submitted documents are satisfactory and that the applicant has properly submitted all required documents, BOI will issue an online Payment-Approval. After receiving approval, the applicant must upload a copy of the Challan. Overall, the processing time for issuing the License would be 15 (fifteen) days, but this will depend on the Inter-Ministerial Meeting as well as how long it takes in practice. We give you the Proper guide to Bangladesh Company Registration.
The license to open a branch office would be valid for 3 (three) years, after which it would need to be renewed by submitting an application to the BOI.
Previously, the procedure for applying to the BOI for approval to open a Branch Office was tedious because all of the tasks had to be completed manually. Now that the process has been reversed and streamlined to be completed entirely online, it has become completely comprehensive.
Why Trust NetworkBD For Setup Your Business Affordably?
We will provide you with a full range of services for a branch office setup in Bangladesh. You can talk to us about your needs. And we will provide you with the greatest option that will provide you with the most advantage.
1. Our branch office setup solution is a cost-effective way for large organizations to meet their clients’ needs.
2. Depending on the demands of the organization, our branch office setup services can be performed by a single person or by a team.
3. We can also better cater to and educate ourselves on the needs of diverse regions for a representative office, such as rolling and everything.
4. With our branch office setup service, you can rapidly establish a branch office in Bangladesh or any other emirate.
FAQs For Branch Office Setup Services in Bangladesh
What are the requirements for the appointment of a local director/authorized agent at a Branch Office?
1. Bangladeshi citizen
2. Bangladeshi permanent resident
3. An employee who holds an Employment Pass at a Branch Office.
What are the minimum requirements for the registration of a branch office in Bangladesh?
1. There is one local authorized representative
2. Registered at a local address
Do we need to register a Bangladeshi branch or subsidiary as a foreign company?
1. Liabilities of a subsidiary do not extend to its parent.
2. Business activities of a subsidiary are not restricted to those of the parent company.
3. The subsidiary can take advantage of incentives and tax breaks available to local companies.
The subsidiaries of a parent company are not required to file financial statements.
We are an international company. Do we need to register a Bangladeshi branch?
1. It is only the shareholder capital of a subsidiary that is liable and not the parent company
2. It is generally considered that a subsidiary is a local resident and is therefore eligible for local tax incentives
3. Subsidiaries can benefit from double tax treaties.