Registration and License Process

There are multiple ways by which a financial backer can put into the restaurant business, eg: Sole Proprietorship, Partnership Business, and Private Limited Company. The initial two choices are not accessible for foreign investors. 

Sole Proprietorship 

In Bangladesh, a Sole Proprietorship doesn’t comprise a different lawful element, along these lines; it isn’t particular from the proprietor/owner. Over the span of business if any risk emerges, the entrepreneur will be actually responsible for all liabilities. Any Bangladeshi resident of a base age of 18 years is qualified for a sole proprietorship. 

Registration Procedure 

To set up a sole proprietorship business in Bangladesh, the following advances should be followed: 

1. Proposed business name. 
2. Obtaining Trade License. 

General Licenses 

Trade License – It is the essential prerequisite for proprietorship. This can be gotten by making an application to the individual City Corporation/nearby government alongside the rent/lease record of the workplace space of the business. Elements which will work in business area and the elements which will work in modern area will need to apply for business trade license and modern trade license individually. 

TIN Certificate – The application should be made through internet based gateway of National Board of Revenue (NBR). 

VAT Certificate – The application should be made through internet based entrance of National Board of Revenue (NBR). 

Association Business 

Registration Procedure 

An association business should be registered with Registrar of Joint Stock Companies and Firm of Bangladesh (“RJSC”). 

1. Choosing The Partnership Name 

A Name Clearance for the proposed name of the Partnership Business should be gotten from the Registrar of Joint Stock Companies and Firms (RJSC). 

 2. Prepare A Partnership Deed 

The Partnership Deed ought to be composed on a stamp paper as per the Stamp Act and all accomplices should sign it and in this manner be authenticated. 

3. Register Partnership Deed With RJSC

The association deed alongside topped off Form I ought to be recorded with RJSC. The authorities of the RJSC will audit the records will give a Certificate of Registration. 

Timeline – It as a rule takes around fourteen days to get the Certificate of Registration from RJSC after the accommodation of the archives according to STEP 3. 

General Licenses 

TIN Certificate: The application should be made through internet based entry of National Board of Revenue (NBR). 

Trade License: The application should be made, alongside the suitable government expenses, to the important city enterprise office/local government office alongside the business archives and the rent/lease deed of the workplace space of the Business. Elements which will work in business area and the substances which will work in modern area will need to apply for business trade license and modern trade license separately. 

VAT certificate: The application should be made through internet based entryway of National Board of Revenue (NBR). 

Private Limited Company 

Procedure for organization arrangement: 

The procedure of setting up an organization is as below: 

Organization Incorporation: 

1. A Name Clearance for the proposed name of the Company should be gotten from RJSC. 
2. Drafting and marking the following: 

• Memorandum and Articles of Association of the organization; 
• Consent of chief to act; 
• Particulars of the chiefs, supervisor and overseeing specialists. 

1. Opening the financial balance for the Bangladeshi Company and transmitting the offer capital measure of the unfamiliar investors (not needed for local investors) 
2. Bank to give encashment declaration of such unfamiliar settlement (not needed for nearby investors) 
3. The marked reports, as referenced in sync 2, will be needed to be submitted to the RJSC alongside the encashment declaration and the public authority expenses for the joining the organization. 
4. RJSC will check the records and give the confirmed joining reports. 
5. Timeline – It normally requires 3 to about a month, subsequent to presenting the reports according to Step 5, for RJSC to give the certificates. 

Private Limited Company 

Procedure for organization arrangement: 

The procedure of setting up an organization is as below: 

Organization Incorporation: 

1. A Name Clearance for the proposed name of the Company should be gotten from RJSC. 

2. Drafting and marking the following: 

1. Memorandum and Articles of Association of the organization; 
2. Consent of chief to act; 
3. Particulars of the chiefs, supervisor and overseeing specialists. 

3. Opening the financial balance for the Bangladeshi Company and transmitting the offer capital measure of the unfamiliar investors (not needed for local investors) 

4. Bank to give encashment declaration of such unfamiliar settlement (not needed for nearby investors) 

5. The marked reports, as referenced in sync 2, will be needed to be submitted to the RJSC alongside the encashment declaration and the public authority expenses for the joining the organization. 

6. RJSC will check the records and give the confirmed joining reports. 

7. Timeline – It normally requires 3 to about a month, subsequent to presenting the reports according to Step 5, for RJSC to give the certificates. 

Import Registration Certificate (IRC) 

Entities which will need to import Food items or hardware for eateries needs to acquire the IRC. 

The application for IRC should be made to the Office of Chief Controller of Imports, with element consolidation reports, TIN declaration, trade license, dissolvability testament from the bank and office of business participation certificate and significant government charges. The certificate should be recharged every year. 

Fire License 

Considering the environment and to guarantee the security of the foundation alongside the workers occupied with the business, it is compulsory for structures and business associations to get fire license. It is given by the Fire Service and Civil Defense (FSCD) authority working under the Ministry of Home Affairs, Bangladesh. 

The records needed to be submitted to acquire a fire license are as per the following: – 

1. Prescribed application structure; 
2. Trade license; 
3. Yearly valuation declarations; 
4. Deed of understanding; 
5. Layout of the foundation; 
6. Certificate of Incorporation; 
7. Memorandum and Articles of Association; 
8. No protest certificate from the local authority; 
9. Clearance certificate from the FSCD office; 
10. Deposit slip/depository challan. 

Certificate Mark from Bangladesh Standards and Testing Institution (BSTI) – There are 71 Agricultural and Food Products which are under the obligatory Certification Marks (CM) plan of BSTI which as such implies that advertising of any of these things needs similarity certificate of Bangladesh Standard from the BSTI. There are imported 23 Food Products required obligatory confirmation before customs freedom. In the event that any eatery utilizes any of the items from these two records it should check whether the items have the Certification Marks on it.