Business Setting Up & Licensing
Starting business in Bangladesh, South Korea or Malaysia
Bangladesh : Doing business in Bangladesh can be very rewarding for local people of the country or foreigners. Setting up a company for carrying out a business is the best way forward in opposed to proprietorship or partnership format. The procedure and documentations required for setting up a company in Bangladesh perspective, a private limited company is the best choice for carrying out a business as it provides a number of facilities including tax benefits, legal and easy pathway to raise capital, continuity of a business despite absence of its founder, ease of transfer of shares, limited liability for shareholders, availing certain business discounts which otherwise would not be available to a single consumer, branding of the business name due to availability of patented name facility, ease of carrying out international transactions etc.
A private limited company is a separate legal entity and shareholders are not liable for the company’s debts beyond the amount of share capital they have contributed. According to the Companies Act 1994, any two persons (foreign or local) and a maximum of 50 members who are not disqualified under any law of Bangladesh can register a private limited company in Bangladesh. Besides the owners can be either individuals or other companies.
There are three distinct steps involved in company setup procedure under the RJSC in Bangladesh:
- Name Clearance;
- Bank account opening and bringing in the paid up capital; and
- Company Registration
Name Clearance: You can obtain a certificate from RJSC by applying online whereby you are ensured that no second company exists with an identical name which you have chosen for your company. You must give three name options just in case your first choice is not available. Be sure that you clearly indicate what your first name choice is, because registrars might pick whatever name they like the best.
Bank Set-up: Opening a bank account in the name of the proposed Company and obtaining Bank Solvency Certificate (as and when needed).
Company Registration: Documents Constituting a Registration Application for a PRIVATE Company (Companies Act, 1994)
- Memorandum of Association & Articles, original copy (Format of government prescribed Memorandum of association.
- Filled in Form I: Declaration on Registration of Company.
- Filled in Form VI: Notice of Situation of Registered Office.
- Filled in Form IX: Consent of Director to act .
- Filled in Form X: List of Persons Consenting to be Directors.
- Filled in Form XII: Particulars of the Directors, Manager and Managing Agents.
- Evidence of Name Clearance.
- Shareholders Particulars (National ID/Passport details)
- Directors Particulars (including Tax Identification Number)
- Special Adhesive Stamps and Treasury Challan from Bangladesh Bank to Treasury (photocopy) of Collecting the Stamps.
Duration : Maximum 3 days from the date of submission the RJSC required documents and payment paid slip.
Registration: After receiving all the above documents if the Registrar of RJSC is satisfied he will sign and attest the documents and issue an
- Certificate of Incorporation which brings the company into existence;
- MoA and AoA, and
- Form XII.
Post-Registration Formalities: After registration and obtaining Certificate of Incorporation from RJSC a private limited company can commence its business immediately. However, you would also need to apply for Trade License and Tax Identification Number. Depending on your company’s business activities, you may need to obtain more business licenses as and when needed.
Memorandum of Association
Memorandum of Articles
Paid up Capital
Authorized Capital :
South Korea : You can invest in South Korea for high returns. South Korea is a dynamic and vibrant place to do business because of the12 largest economy worldwide, and the 4th largest in Asia. GDP per capita in South Korea is expected to be 26800.00 USD by the end of this quarter.
It is very easy to set up a new business in South Korea. You can form a company with one or more than one with or without Korean partner by owning 100% shares or ownership, and all of shareholders of the company are allowed to live in Korea for long time with their family members, even you can recruit management staffs and workers for your company.
There are many types of businesses you may run in South Korea except defense materials. To be registered as foreign investment, the investment amount would be at least KRW 100 Million Or US$ 86350.00 equivalent to BDT 7350000.00 (Seventy three lac fifty thousand). Your investment amount shall remain secured in the company bank account in South Korea, you can draw it for starting your business activities after the end of company registration.
For details, you are most welcome to visit us. We will cooperate you for setting up a new business in South Korea in a easy and simple way.
For Details :
Malaysia : Malaysia is one of the top ten countries in the world for doing business, due to its steady economic growth. With the rise of investment opportunities in this country, the demand for the incorporation of company in Malaysia has been rising up day by day. We understand the challenges you will face when it comes to starting a business. We have experience with the trials and tribulations of building a start-up, and will be able to journey with you from beginning to end—not just as a service provider, but as a business consultant as well.
If you are interested to incorporate a company in Malaysia with SSM (Companies Commission of Malaysia), we are having a lot experiences, you can trust and rely on. The entire incorporation process will take approximately 7 to 10 days without any hassle from your end.