How to register a Liaison Office in Bangladesh
Liaison Office in Bangladesh conducts promotional and advertising of its parent company. Liaison Office registration in Bangladesh, one must obtain permission from Bangladesh Investment Development Authority (BIDA). The followings are the matters need to be considered before Liaison office registration in Bangladesh:
- All expenses for setting up a Liaison Office and operating it are basically borne by the parent company which is established abroad.
- Encashment Certificate of inward remittance of minimum $50,000 need to be shown as initial establishment cost for liaison office within one month of the approval of such office from the concerned authority.
- For the purpose of registering the entity, an account has to be obtained with the scheduled Bank of Bangladesh, for receipt of remittances.
- While applying for the approval of Liaison Office some documents are required, for example, application in prescribed form signed by authorized persons for establishment of liaison office; authorization letter to submit the application to Bangladesh Investment Development Authority (BIDA); audited accounts of last financial year of the principal company etc.
Time Frame for successfully completing the Liaison Office Registration in Bangladesh
After submitting the application to BIDA generally it may require 15 (fifteen) working days to issue the approval letter. However it may vary depending on Inter Ministerial Meeting. Generally BIDA gives permission of Liaison Office for a period of Three (03) years.
Al Amin Rahman & Associates Services
Al Amin Rahman & Associates has years of experience in aiding foreign entities to set up their office in Bangladesh. Starting, but not limited to, acquiring permission from BIDA, arranging visa and work permit for expats, approval of Bangladesh Bank, opening bank accounts of entity, etc, we have assisted many leading foreign companies with the process and are still successfully assisting them on a regular basis to operate its activities in Bangladesh. Not only our clients are appreciative about on our efforts but they have their full trust on us, regarding other legal concerns as well.