Foreign Company Starting Up A Branch/ Liaison Or Representative Office
It is easier and simpler to Liaison Office Setup in Bangladesh as opposed to forming a branch or a company. We explain how to open a liaison office/representative office in Bangladesh in this article. We at HostBangla offer secure & legal foreign entity setup services affordably.
Ensure the bank and it's branch where your account will be opened.
Apply to the Reserve Bank of Bangladesh with all necessary documents
Apply accurately and get approval from the Reserve Bank of Bangladesh.
You must apply to the BIDA for a Certificate of EPB in Bangladesh .
Apply to the Income Tax Authority
Register for TIN to Income Tax authority.
Take a receipt of your account number.
For location, apply Establishment Act.
Establishment Of Branch Office (BO)/ Liaison Office (LO) In Bangladesh.
There is no difference between the Liaison Office and Representative Office in Bangladesh. An international company’s Liaison Office is limited in its abilities, including:
1. Keep in touch/coordinate with principals, local agents, distributors/exporters’ institutions through personal contracts, and other electronic media.
2. According to the letter of approval, gather, analyze, and disseminate information pertaining to its field of activities.
3. For a liaison office in Bangladesh, there is no source of funding. The parent business outside is responsible for covering all startup and ongoing expenses, including local and international staff members’ salaries.
The BIDA, the concerned bank, the National Board of Revenue, and the Bangladesh Bank shall be required to receive quarterly returns of remittances received from abroad with documentary evidences.
Before the proposed change is carried out, any changes to the current address must be notified to BIDA for action and approval.
In accordance with the rules of the country, the permitted office must obtain clearances and licenses from the appropriate government agencies.
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The name of the Bangladeshi branch or liaison office must be the same as that of the foreign company.
Articles of Association
The Branch and Liaison Office have no separate Memorandum and Articles of Association.
All Bangladeshi branches and liaison offices must have a Bangladeshi address.
Limitations Of Liaison Office Setup In Bangladesh
Liaison offices in Bangladesh are not legally recognized as corporations, so they cannot make money. These activities include entering into a strictly binding contract, leasing space for other businesses, providing technical services, issuing receipts, and even shipping / storing goods without a local agent in Bangladesh.
FAQs On Liaison Office Setup In Bangladesh
Foreign companies can apply for a representative or liaison office in Bangladesh if they have a net worth of USD 50,000 or its equivalent. The parent company’s financial statement must be properly certified by its statutory auditor. If the foreign corporate applicant has had a track record of profitability for the past 3 years, and its financial standing is strong.
The Branch or Liaison Office is registered with BIDA as a legal entity. It is called a multinational business extension and not a legal entity. As opposed to a subsidiary of Bangladesh, the parent company of the branch or liaison office is indirectly responsible for the debts and liabilities of the branch or liaison office.
It is possible for foreign nationals to become a director, shareholder, or secretary of a Bangladeshi company. It is even not necessary that you live in Bangladesh.
- It takes between 30 and 45 days from the date of application
- One meeting per month, sometimes two meetings if there are more applications submitted
- If the application is denied for lack of documents, additional time or a second meeting might be required.