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A limited liability partnership is a hybrid of a corporation and a partnership. It possesses the characteristics of both of these types. As the term implies, partners have limited liability in the firm, which means that their personal assets are not used to pay off the company’s debts. It has become a very popular form of company in recent ...
A partnership may be registered with Registrar of Joint Stock Companies and Firm of Bangladesh (“RJSC”). The partnership registration process consists of two steps: a) name reservation; and b) registration of the entity. Under normal circumstances, a partnership registration can be completed within one/two days.
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Oct 10, 2019 · Here are a few naming guidelines that need to be followed while deciding a name for your LLP company. Acceptable name. An acceptable name for an LLP has three parts. Name part. Object part. Constitution part. Name Part. According to the Company Act, 2013 or LLP Act, 2008, the name suggested for an LLP has to be unique and acceptable.
Notable companies Active State-owned Defunct; Name Industry Sector Headquarters Founded Notes A K Khan & Company: Conglomerates - Chittagong: 1945 Textiles, logistics, water, financial services, telecoms, agriculture Aarong: Consumer goods Personal & household goods Dhaka: 1978 General retail Abul Khair Group: Conglomerates -
- Key Facts About Company Formation
- Considerations For Foreigners
- Required Documents
- Registration Procedure
- Post-Registration Formalities
Company Name.The name must be approved (cleared) before incorporation of the company in Bangladesh. Directors.Minimum two directors are mandatory. Directors can be either local or foreign. Directors must be at least 18 years of age and must not be bankrupt or convicted for any malpractice in the past. The law requires that a director must own quali...
Foreigners wishing to open a Bangladesh company, must take into consideration the following points: 1. You must open a bank account in the name of the proposed company with the name clearance obtained from the Registrar of Joint Stock Companies and Firms (RJSC)i.e. the registrar of companies and bring in the initial paid up capital. This is a manda...
For the purpose of company incorporation in Bangladesh, the following information is required by the company registrar: 1. Company Name. A name clearance must be obtained. 2. Memorandum of Association and Articles of Association.RJSC requires that the object clause in the MoA to be within 400 words and 7 clauses. 3. Shareholders Particulars(Nationa...
Company registration procedure in Bangladesh is partially computerized. There are three distinct steps involved in the Bangladeshi company setup procedure: a) Name Clearance; ii) Bank account opening and bringing in the paid up capital; and finally b) Company Registration. Step ii is only applicable if there is any foreign shareholder in the propos...
Documents Issued by RJSC:
1. Certificate of Incorporation: RJSC will issue a Certificate of Incorporation of the company. The certificate will have the registration number, name of the company and the date of incorporation. 2. Form XII: Form XII contains the list of directors of the incorporated company. 3. Certified copies of MoA and AoA Some of the other items you will almost certainly need upon registration of your Bangladeshi company include: 1. Share certificates for each of the shareholders. 2. Register for shar...
Applying for Trade License, Tax Identification Number and other licenses
After the incorporation, you should buy a commercial space or rent some space in any commercial area. Then you 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.
Return Filing Requirements
Annual Return: Each calendar year, an Annual General Meeting must be held. The AGM must be conducted within 18 months of company incorporation, after which no more than 15 months can elapse between one AGM and the next. Regular Return: In case of any change in the board of directors or in the shareholding structure or any other change, a relevant return must be filed with the RJSC within a certain period of time. If you need professional help with company incorporation, please contact us.
For income tax purposes, an LLP will be treated as a partnership and not as an individual legal entity. This means that the Limited Liability Partnership or LLP entity will not be liable for taxes at the entity level. Instead, each partner will be taxed on his or her share of income from the LLP. Where the partner is an individual, part of his ...
Jan 13, 2024 · A limited liability partnership (LLP) is a flexible legal and tax entity where every partner has a limited personal liability for the debts or claims of the partnership. Partners of an LLP can ...
