In Bangladesh, starting a business typically involves obtaining various licenses and permits to operate legally. The specific licenses and permits required can vary depending on the type of business, its size, and its location. Following are some of the common types of business licenses and permits that may be required in Bangladesh:
1.Company Registration: If you plan to operate as a company, you will need to register your company with the Registrar of Joint Stock Companies and Firms (RJSC) under the Ministry of Commerce. This is a legal requirement for incorporated businesses.
2. Trade License: A trade license is a basic requirement for most businesses in Bangladesh. In Dhaka, a trade license is required to be obtained from the relevant City Corporation. You must apply for a trade license in the area where your business is located.
3. Tax Identification Number (TIN): You must obtain a Tax Identification Number (TIN) from the National Board of Revenue (NBR) for tax purposes. It is required for paying income tax, value-added tax (VAT), and other taxes.
4. VAT Registration: If your business meets the turnover threshold set by the NBR, you may need to register for VAT and collect and remit VAT to the government.
5. Import and Export Licenses: If your business involves importing or exporting goods, you may need import and export licenses from the relevant government agencies, such as the Bangladesh Customs Department.
6. Environmental Clearance: Certain industries, especially those with potential environmental impacts, may require environmental clearance from the Department of Environment (DOE).
7. Factory License: As mentioned in a previous response, factories in Bangladesh require specific licenses from the Department of Inspection for Factories and Establishments (DIFE).
8. Bond License Rule: Bond License is issued and maintained by Customs Bond Commissioner ate (CBC) under direct supervision of Bond Commissioner ate.
9. Specialized Licenses: Some businesses, such as those in the healthcare, pharmaceutical, food, and telecommunications sectors, may require specialized licenses and permits from respective regulatory authorities.
10. Fire License: A fire license is a requirement for all Bangladeshi businesses that produce clothing. This license is issued by the Fire Service and Civil Defense (FSCD) in accordance with the Fire Prevention and Fire Fighting Act of 2003.
11. Foreign Investment Approval: If your business involves foreign investment, you may need to obtain approval from the Bangladesh Investment Development Authority (BIDA) or the Bangladesh Export Processing Zones Authority (BEPZA) depending on the nature of your investment.
12. Labor and Employment Compliance: Ensuring compliance with labor laws, including employee contracts, working conditions, and wages, is essential for businesses with employees.
13. Trade Body Memberships: Depending on your industry, it may be beneficial to join relevant trade associations or chambers of commerce.
14. Bank Account: You will need to open a bank account for your business operations.
It’s important to note that the specific requirements and procedures for obtaining these licenses and permits can change over time. Therefore, it’s advisable to consult with local authorities, legal experts, or business consultants in Bangladesh to ensure that you meet all the necessary legal and regulatory requirements for your specific business.
In case you require any help of securing these licenses, Jural Acuity team will be happy to assist you. We can be contacted @+880170710800 or info@juralacuity.com
