1.  Genuine License & Registration Process: Here it is

There are multiple ways by which an investor can put into security services industry, Sole Proprietorship, Partnership Business, and Private Limited Company. The initial two choices are not accessible for foreign investors. 

2. Sole Proprietorship 

In Bangladesh, a Sole Proprietorship doesn’t comprise a different legal element, in this manner, it isn’t unmistakable from the proprietor/owner. Over the span of business if any responsibilities arise, 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. 

3. Registration Procedure 

To set up a sole Proprietorship business in Bangladesh, the accompanying steps should be followed: 

1. Proposed business name 
2. Obtaining Trade License

Trade License – It is the essential prerequisite for Proprietorship. This can be gotten by making an application to the people City Corporation/local government alongside the rent/lease record of the workplace space of the business. 

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 entry of National Board of Revenue (NBR). 

Registration Procedure 

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

Stage 1- Choosing the Partnership Name 

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

Stage 2 – Prepare A Partnership Deed 

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

Stage 3-Register Partnership Deed With RJSC

The partnership deed along topped off Form I should to be documented with RJSC. The authorities of the RJSC will audit the reports will give a Certificate of Registration. 

Timetable – It normally takes around 15 days to get the Certificate of Registration from RJSC after the accommodation of the archives according to STEP 3. 

Method for organization arrangement: 

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

Stage 2 – Drafting and signing the following: 

1. Memorandum and Articles of Partnership of the organization
2. Consent of chief to act 
3. Particulars of the chiefs, administrator and overseeing service providers 

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

Stage 4 – Bank to give encashment certificate of such foreign settlement (not needed for local investors) 

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

Stage 6 – RJSC will check the reports and give the guaranteed joining records. 

Timetable – It generally requires 3 to about a month, in the wake of presenting the reports according to Step 5, for RJSC to give the certificates. 

The District Magistrate on account of the concerned region and the Commissioner of Police on account of the metropolitan region will be the licensing authority. 

Stage 1 – Any people wishing to build up and work a private security services partnership might apply for a license to the Licensing Authority in the way and structure endorsed by rules. 

Stage 2 – After the application is made for a license, the licensing authority confirm something similar 

Stage 3 – The official coordinated will review the spot referenced in the application face to face and in the wake of looking at the data got and asking into all matters, present a full report consequently to the licensing authority. 

Stage 4 – In the wake of surveying the report, the licensing authority- 

• if it is fulfilled that the candidate has satisfied the conditions recommended for the foundation and activity of a private security services, the licensing authority will give a license to the candidate inside thirty days in the wake of gathering the store, license fees, and so on endorsed by the candidate or 
• If it is considered that it is convenient to allow the candidate the chance to meet the recommended conditions, the Licensing Authority will give the candidate a limit of fifteen days to meet the above conditions  
• Grant the license to the candidate inside the following fifteen days in the wake of being fulfilled that the candidate has had the option to conform to every one of the conditions referenced in that period  Or 
• If the candidate neglects to meet the necessary conditions inside that period, the application will be dismissed and the candidate will be educated Or 
• If the candidate is of the assessment that the candidate has not had the option to satisfy the greater part of the conditions set down and the candidate isn’t probably going to have the option to satisfy the excess conditions inside the time given, then, at that point, the candidate’s application Directly dismiss and educate the candidate inside fifteen days. 

Stage 5 – In the event that the Licensing Authority dismisses any application for not fulfilling the conditions, the candidate might engage the Government inside thirty days from the date of receipt of the said dismissal request and the choice of the Government on the appeal will be conclusive.