In Bangladesh, the Registrar of Joint Stock Companies (RJSC), often known as Company House, is the legislative authority in charge of company registration. As a result, you must apply through them to form a joint-stock corporation in Bangladesh.
Let’s take a look at the RJSC registration process and requirements in Bangladesh.
In Bangladesh, there are four steps to forming a joint stock company.
Here’s a step-by-step guide to walk you through the entire procedure
Step 1: Obtain a certificate of name clearance for your business.
Obtaining a name clearance is the first step in creating a business in Bangladesh. You must first choose a solid business name before registering your company’s name. It can’t be too identical to another one that already exists.
To do so, follow these steps:
- Visit http://app.roc.gov.bd:7781/ for more information. To get to the RJSC name clearance portal, click here.
- Fill out the form with your email address, password, and other business details.
- Once you’ve finished the online application, send a bank invoice to the RJSC-designated bank for a fee ranging from BDT 500 to BDT 1000.
- After submitting the Challan, you must update your details on the RJSC website.
- N.B. If you don’t register your firm within a month of receiving name clearance, you’ll have to repeat the process.
Step 2: Gather all of the necessary paperwork for the registration process.
For verification, the RJSC requires the following documents:
The company’s Memorandum of Association (MOA) and Articles of Association (AOA) are: In Bangladesh, these two documents are joined to constitute the company’s constitution. As a result, you should seek an expert consultant for the job.
The MOA and AOA are the most crucial parts of your company’s registration process in Bangladesh. As a result, take considerable care when drafting the company’s charter.
The decision of the promoters to establish a company in Bangladesh is as follows:
This document outlines the steps necessary to start a business in Bangladesh. It is frequently required when a foreign entity is an investor in a proposed Bangladeshi corporation.
After receiving the documents, you must complete the following forms:
Form I: Declaration of the company’s registration
Notice of the status of the registered office (Form VI)
Form IX: Director’s Consent to Act
Form X: List of those who agree to serve as directors
Details of the directors, managers, and managing agents (Form XII)
Step 3: Complete the banking procedures.
The company registration procedure in Bangladesh introduces a new condition if a foreign corporation desires to become an investor in a Bangladeshi company. Following Bangladeshi legislation and RJSC standards, the foreign business must pay its participation share in the Bangladeshi enterprise.
You’ll need to open a temporary bank account by submitting the necessary documents to the appropriate banks:
- Drafts of the MOA and AOA
- Certificate of clearance of the name
- Resolutions of foreign company boards of directors
- Copies of representative shareholders’ passports
- Forms for bank accounts
- Other documents required by the authority
After opening the company bank account and entering the joint-stock amount, you must get a “Encashment Certificate” from the bank. This document verifies that the capital contribution amount has been properly deposited into the proposed company’s temporary bank account.
Step 4: Complete the registration process in its entirety
For the business to be registered, the registration fee and stamp amount must be paid at the RJSC’s authorized bank. The government fee will be calculated using the proposed company’s approved share capital. Following complete fulfilment of all conditions, the RJSC will issue a registration certificate.
Before forming a joint-stock company in Bangladesh, you must first determine which category your company belongs to. If you don’t follow the procedures exactly, the process might be quite time consuming and difficult.
You can also employ an experienced consultant to help you launch your Bangladesh joint-stock corporation.