Partition deed, distribution of undivided property inherited, bd

 Partition deed, distribution of undivided property inherited

Distribution document

Suppose after the death of your parents, you siblings want to share their inheritance among themselves. Usually in our country in such cases the partners enjoy the property by sharing through verbal agreement. But in the future, there is a risk of serious complications among the heirs regarding the possession, sale or transfer of this property. In that case, the distribution of documents plays an important role in resolving such complications.

In today's video I will discuss with you, what is a partition or distribution document? How to distribute this, how much money is spent on preparing this document, how much is the registration fee, etc. about all the details.

In order to facilitate the usurpation of undivided property inherited, jointly owned property, jointly purchased property of the joint family, a deed of distribution is prepared for distribution among the partners.

Section 2 (15) of the Stamp Act of 1899 defines a deed of distribution as: "A deed of distribution means a document by which the co-owners of a property take or agree to take a certain property into private ownership".

In the case of inherited family property, all the heirs can share their share.

It can be divided into two ways-

1. Through the courts

2. By local means or by parties

The legal basis for local or family distribution is not strong, so the complexity is greatly reduced if the inheritance property is distributed through the courts. For this, the shareholders have to go to court with all the heirs of the property, which is called partition suit in English. However, if the parties agree, they can distribute the shares by mutual consent, a document can be prepared by the author and the registration can be done by going to the registration office. In this case it is possible to avoid the hassle of the case, the cost will be saved and time will be saved.

Terms of distribution

First you have to mark the boundaries by measuring the land with a good surveyor

The partners should clearly state how much is allocated to whom and from which part

This division of property must be recognized and signed by each partner

All the issues that need to be mentioned in the distribution document

In the deed of distribution, how the ownership of the property is real, why it is being distributed, how it has been distributed, the list of partners, who will get which part, etc.

It is best to include in the deed who will have the original copy of the deed of distribution and who will present the original deed to the other partners if required. If you want, you can spend 50 to 100 Tk. for the stamp duty on the copy.

All parties must actively participate in the distribution document, and if there is a minor person, his or her legal guardian can participate.

How to sue the sharecroppers

First of all you have to go to a wise lawyer with all the documents related to the ownership of the property, such as ownership documents, inheritance certificate, land survey ledger, mutation ledger etc. to file a case. The court fee for this case is usually Tk.. In the case of partition, the land of each dag is usually divided among all the co-partners. In such cases, two decrees are issued twice, the first is called the initial decree and the latter is called the final decree. Distribution is ordered according to the share in the initial decree. And in the final decree, if necessary, the Amin Commission is sent and the property is seized on the spot and the final decree is issued by dividing (dividing the land) by boundary pillars. The court, if necessary, appoints law enforcement agencies and demarcates the boundaries of the property and arranges for the possession of the property by the decree recipient.

 

Registration of shared documents

Registration of deed of inheritance has been made compulsory since 2004. [This provision was added by amending Section 16 (1) of the Registration Act, 1908] {screen writing pop-up.

Prior to this, the registration of inherited property was at the discretion of the parties. In addition to making the registration of distribution documents mandatory, the government has fixed fees and stamp duty on these documents. Earlier, the registration fee of the deed of distribution was the same as that of the deed. The parties to the registration of the distribution deed did not want to register it as they had to pay such a high fee and stamp duty.

The cost of getting the document ready

[According to Article 45 of Schedule-1 of the Stamp Act of 1899] Stamps have to be added to the deed of distribution, the stamp duty value of the deed of distribution is presently only twenty Tk. [By order of His Excellency the President 142 of 1972] Affidavit has to be attached with the distribution letter. The stamp duty on the affidavit is Tk.. 50 and the registration fee on the affidavit is Tk.. 100. In addition, if the number of pages of a document is more, the fee may increase at the rate of twenty five Tk. per additional page.

Registration fee

The registration fee for the deed of allotment is as follows:

(A) If the value of the property is less than three lakh BDT. - the fee is 500 Tk.

(B) If the value of the property is between three lakh to ten lakh BDT. - 600 Tk.

(C) If the value of the property is between ten lakh to thirty lakh BDT. - 1200 Tk.

(D) If the value of the property is between three lakh to fifty lakh BDT. - 1800 Tk.

(E) If the value of the property is more than fifty lakhs, a fee has to be paid - 2000 Tk

No matter how the property is distributed, after the registration of the distribution deed, each owner has to register his property in his own name and pay the government rent including land development tax.

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Rules for licensing travel agencies 2021-2022

 Rules for licensing travel agencies 2021-2022

Traveling is one of the main hobbies of human beings, people want to rush to a new place in search of a little adventure or serenity when they get a little rest in their busy life. If traveling is your passion and you are thinking of starting a profitable business with a small investment, then you can also start a travel agency business.

In today's video, I will discuss with you, how to apply for a travel agency license in Bangladesh, how much does it cost, what documents do you need, etc.

If a person wants to do business of travel and tourism in Bangladesh, he must be the owner of a travel agency and must register with this agency-

Existing laws regarding travel agency registration and management are-

Bangladesh Travel Agency (Registration and Control) Act, 2013 and Bangladesh Travel Agency (Registration and Control) Rules 2014.

Eligibility to obtain a travel agency certificate

If a person wants to get a certificate of registration as a travel agent -

· Must be a citizen of Bangladesh

· Must be an adult

 Must have a healthy brain

 Not to be declared bankrupt by any court.

· If he has been convicted of any crime of treason or moral turpitude, then 2 (two) years must have elapsed after the conviction.

Before starting any kind of business in Bangladesh, some steps have to be taken as a first step, such as-

1. First you need a business address, i.e. where your office will be; For this you can rent an office in your own building or in a convenient place.

2. In order to conduct business, you need to obtain a trade license from the Union Council or City Corporation of the area where your organization is located.

3. Need to collect Tax Identification Number or TIN Certificate.

Application for registration certificate:

After doing these three things, now you have to apply to the Ministry of Civil Aviation and Tourism, i.e. Civil Aviation, for the registration of your travel agency.

The documents to be submitted for the application are: -

Attested photocopy of trade license

 Attested photocopy of TIN certificate or Tax identification certificate

Business Address (Photocopy of Office Rental Agreement)

 Attested copy of the Memorandum of Association, Articles of Association, and Certificate of Incorporation, and, if company;

 Do not take extra money from any person for providing transportation, accommodation and other similar facilities related to travel, do not show him false temptation or take any fraudulent affidavit with him.

· Five thousand (5,000) Tk as application fee [pause] should be deposited through treasury invoice in the code prescribed by the government and original copy of that invoice.

A bank certificate with a balance of Tk. 10 lakhs in a scheduled bank as the initial capital for conducting a travel agency business.

Application Process: Travel agency registration application can be submitted only online. This is basically done using a web application called Travel Agency Management System.

Scan all the paperwork I mentioned for submitting the application, then enter this web address https://www.regtravelagency.gov.bd, sign up and open an account, then fill up the prescribed form and Upload the files that have been scanned in the attachment and re-check everything and submit, it is time to submit your application.

The Registration Authority i.e. Bangladesh Civil Aviation will inspect it within 15 (fifteen) days after receiving all the above mentioned papers and can ask for any more information or documents if required.

Issue of registration certificate

After verifying the paperwork attached to the application, confirm its authenticity / validity and inform the applicant. After that you will be asked to submit the registration certificate fee of Tk. 50 (fifty) thousand within 15 days through treasury invoice in the prescribed code and you will be asked to submit the original copy to the registration authority.

Even if the registration authority does not approve the application for registration certificate for any reason, it will inform the applicant within 15 days along with the reasons.

Duration and renewal of registration certificate

Within 15 days of receipt of the registration certificate fee, the registration authority will issue the registration certificate in favor of the applicant. This certificate is valid for three (3) years and is renewable.

License renewal:

You have to apply for the renewal of the certificate at least 60 days before the expiry of the term. Renewal fee is Tk. 25,000 (twenty five thousand) and once renewed it is valid for 3 (three) years.

If the license issued by the registration authority is lost for any reason, a duplicate license can be obtained by depositing Tk. 5,000 (five thousand) by submitting reasonable reasons and evidence.

Every travel agency has to show the certificate in its office. Whenever the government asks for any information from a travel agency, it must provide it to the government.

Once you have a travel agency license, you can legally start a business as a travel agent.

However, every professional or trader has some organization, just like a travel agency businessman, you can call Atab or Association of Travel Agents Bangladesh; (Toab) Tour operators association of Bangladesh and (Ayata) International Air Transport Association can take membership,This will make running your business easier and more convenient for many.

So friends, you can start a small travel agency business by investing around 1 to 2 lakh Tk in the first place. You can do various training courses from Atab to learn the job or you can work for a few months in a travel agency.

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What is a person's company? Advantages / disadvantages, rules of registration, detailed discussion

 What is a person's company? Advantages / disadvantages, rules of registration, detailed discussion

Everyone knows that a private limited company requires a minimum of 2 members and a public limited company requires a minimum of 6 members, but the Companies Amendment Act 2020 provides for a new type of company, ie one person can open a company alone. Such a company is called One-Person Company or OPC.

So in today's In the article we will try to find out what is this OPC or one-part company? How can such a company be formed? How is its board formed? Etc. About the details?

 

Although the introduction of one person company in different countries of the world has been around for a long time, it is a brand new addition for Bangladesh. The 2nd Amendment to the Companies Act, 1994 adds the tenth- (a) clause to the one-person company or one-person company from sub-section (a) to (l) of section 392.

 

OPC / OPC (ONE PERSON COMPANY)

 

A person with natural rights can only form an OPC. Under the Companies Act, only one person will own 100% of the shares in the company. However, the company memorandum must name one of its heirs or nominees. In this case, there will be an opportunity to change the nominee by informing the registrar of RJSC.

 

He will become the owner of the company after the death of the shareholder. If the nominee dies before the death of the shareholder, another successor or nominee can be determined.

 

Only one person who owns the entire shares will be a member of the board of directors of this company. Managers, company secretaries and other employees can be appointed to manage one person company. One person will call the company director at least one board meeting every 6 months.

 

To form an OPC, the minimum paid-up share capital will be Tk 25 lakh, and the maximum paid-up capital will be Tk 5 crore. And the amount of annual turnover in the previous financial year should be between a minimum of BDT 1 crore and a maximum of Tk 50 crore.

 

If the paid up share capital of One Person Company is more than Tk 5 crore or the annual turnover is more than Tk 50 crore, then the One Person Company can be converted into a private limited company or a public limited company subject to fulfillment of the required conditions.

 

What are the documents required to apply for One person Company?

 

1. National Identity Card

 

2. Mobile number

 

3. Picture of the applicant

 

4. Email address

 

5. Copy of tin certificate of the applicant etc.

 

You do not need to have a trade license in advance to start OPC. After opening a company, you have to apply for a trade license in the name of that company.

 

All shares of an individual company may be transferred to a natural entity only and the provisions of section 37, with necessary adaptations, shall apply to the transfer of shares.

 

 

 

 

 

Advantages of one person company:

One person company has all the benefits. What are the advantages-

 

Biggest The biggest advantage is that you can keep all the money or profit to yourself.

· Another advantage is that you are the sole decision maker of your company. You can make any decision on any issue yourself.

 

· And it’ll speed up the process, since you are a board member, you don't have to wait for someone else's approval. On the other hand, in order to take such a decision in a private or public limited company, the consensus of the board members needs a majority or 2/3 majority.

 

The privacy of the business is very well protected.

 

In the case of a sole proprietorship business, the liability of the owner is unlimited, but in the case of a one-person company or OPC, the liability of the shareholder is limited.

 

Winding-up can be decided quickly.

 

 

 

Disadvantages of one person company

 

A person can only open one OPC.

 

There may be a possibility of combining personal assets or liabilities with business assets due to being a single person.

 

· Besides, the rules of this amended law have not come yet, there is a need for clarity on many issues, how the tax will be on the shareholders of one person company. Whether his personal income will be taxed, or corporate tax will be levied on the company's income, or double taxation, etc., will hopefully be known when the rules are published.

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Rules for import and export licenses 2021-2022

 Rules for import and export licenses 2021-2022

 In this era of the Fourth Industrial Revolution, the free market economy, globalization and at the same time the continuous advancement of information technology have made it impossible to keep trade and commerce within the borders of any country or continent.

Due to the huge demand for some Bangladeshi products in the international market, there is also a demand and shortage of foreign products in Bangladesh, which has opened the door of possibilities in the import-export sector.

If any trader or industrialist wants to import any raw material or commodity from abroad, then if he wants to export any product produced in Bangladesh to foreign market, it is mandatory to have his import and export license.

Assalamu Alaikum Friends In today's article I will discuss with you how to apply for Import and Export License or IRC and ERC for short.

The regulatory authority for issuing and renewing this license is:

Office of the Chief Controller of Imports & Exports (CCI & E)

First let's find out who can get this license-

Any proprietorship concern or sole proprietorship

No partnership firm

Or any limited company

Import and export licenses are two different licenses and have to be taken separately, but the process is the same.

What documents are required to apply for an import or export license:

1) will need a trade license;

2) Membership Certificate of the concerned Chamber of Commerce or any of the recognized recognized trade associations will be required;

[For those who are new, the Chamber of Commerce is a business organization, each district has a chamber of commerce, you can become a member there for a fixed fee. There are also various recognized trade associations such as BGMEA, an association of garment owners and manufacturers.

3) TIN certificate of the owner;

 

4) national identity card of the owner;

5) passport size photo of the owner;

6) Bank Solvency Certificate;

7) Copy of VAT Registration Certificate;

If your organization is a partnership firm, a copy of the partnership agreement;

If your organization is a limited company then copy of Memorandum of Association, Articles of Association and Certificates of In-Corporation approved by RJSC.

Names, addresses of the directors of the company, trade license in the name of the company, TIN certificate, VAT registration certificate etc.

And the receipt of deposit after depositing the money of the prescribed fee in Bangladesh Bank or the designated branch of Sonali Bank through treasury invoice in the code prescribed by the government.

How much is the fee for IRC and ERC licenses?

You can see the list of fees on the screen, these fees may be updated more or less at different times and may be accompanied by 15% VAT and other charges, so to know the exact amount of fees, visit the relevant website or contact the office.

This application can be done both offline and online.

In case of offline, you have to go to the head office of the regulator of import and export from Dhaka or to your respective regional office and submit a copy of all the supporting documents in the prescribed form.

And in order to go online, you have to login to CCIE's web application, input the required information, upload all the supporting documents by scanning and submit.

If all goes well, IRC or ERC certificates are usually available within 2-3 days.

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All information about income tax 2021-2022

 All information about income tax 2021-2022

The people of a country have to pay for running a country or state just as the head of a household or the earning members have to pay for running a country or state. Income tax is the mandatory amount paid to the government to meet the expenditure of the state in the interest of all the people of the state. The most important source of income for the government is income tax. In the general sense, those on whom taxes are levied are called taxpayers.

In today's article we will discuss about who is subject to income tax, what kind of income is to be taxed, what amount of income a person has to pay income tax, income tax payment period and income tax rate etc.

 

Income tax sectors / which are covered by income tax

 

According to the Income Tax Ordinance, 1984, income from 6 types of sectors is subject to income tax.

 

1. Salaries

 

2. Interest on security collateral

 

3. Income from home property

 

4. Agricultural income

 

5. Business or profession income

 

. Capital gains

 

. Income from other sources

 

However, part of the firm's income and the income of the husband, wife or minor child will also be included in the return submission.

 

Income tax limit

 

In general, if the annual income of a person is more than 250,000 Tk, then he will have to file an income tax return.

 

In case of women or persons above 65 years of age, if the annual income exceeds Tk. In some cases, regardless of the amount of income, the taxpayer has to file an income tax return.

 

Due to the coronavirus epidemic and declining human income, the tax-free income limit for individual taxpayers has been slightly increased in the 2020-21 budget.

 

 

 

 

The tax-free income limit for male taxpayers has been increased from Tk 250,000 to Tk 300,000. The tax-free income limit for women and taxpayers over the age of 65 has been increased from Tk 300,000 to Tk 350,000. The number of women, disabled and gazetted freedom fighters is increasing proportionately. The government has not increased this income limit for a long time to increase the number of direct taxpayers.

 

In addition, it is proposed to reduce the minimum tax rate from 10 percent to 5 percent and the maximum tax rate from 30 percent to 25 percent. That is, 5 per cent of the total income up to Tk 1 lakh after Tk 3 lakh, 10 per cent up to the next Tk 3 lakh, 15 per cent up to Tk 4 lakh and up to 20 per cent up to Tk 5 lakh has been proposed. If the income is more than this, 25 percent income tax has been proposed on the total income in this year's budget. At present, if the income is more than Tk 48 lakh, there is a provision to pay income tax at the maximum rate of 30 percent.

 

According to the Income Tax Ordinance 1984, if the tax-free limit is exceeded, the tax identification number as a taxpayer or a 12-digit e-TIN number has to be collected by registering online from any circle office under the National Board of Revenue.

 

The persons who are required to file an income tax return are-

Regardless of the amount of income, the individual taxpayer must file an income tax return for the relevant income year.

 

1. A shareholder director or shareholder employee of a company.

 

2. No firm partner.

 

3. If the income of an employee of a government organization at any time of the year is 18 thousand BDT. or more.

 

4. If you have become a salaried employee in an executive or management position in any business or profession, whatever the name may be.

 

Apart from this, in some cases, income tax returns have to be shown as a condition. For example, from national elections to local level elections, participants in tenders, members of any established club in the society, etc.

 

The cases in which it is mandatory to file income tax returns with the National Board of Revenue are-

 

* Owner of a motor vehicle (motor vehicle also means jeep or microbus).

 

* Member of any club registered under the Value Added Tax Act.

 

* A person who conducts a business or profession by obtaining a trade license from a city corporation, municipality or union council.

 

* A person registered with a recognized professional body as a physician, dentist, lawyer, chartered accountant, cost and management accountant, engineer, architect or surveyor or similar professional.

 

* Income tax professionals registered with the National Board of Revenue.

 

* Member of any Chamber of Commerce or Industry or Business Association.

 

* To be a candidate for any post or Member of Parliament of any Municipality or City Corporation.

 

* Participant in any tender of any government, semi-government, autonomous body or any local government.

 

* To be on the board of directors of a company or a group of companies.

 

Deadline for return submission

 

Our income year is from July to June. From then onwards, i.e. from the 1st of July, the filing of income tax returns started.

 

Continued until tax day. Tax Day is celebrated on November 30 in Bangladesh. That means any taxpayer can submit his income tax return till November 30.

 

You can submit your income tax return online at any circle office under the Board of Revenue, or at the income tax fair or at home.

 

Income tax calculation

 

Calculating income tax is not as easy as water. Income tax assessment requires a little calculation and calculation.

 

In general, the tax rate structure is in the case of individual taxpayers

 

 

 

Total income

 

Tax rate

 

(A) On total income up to the first Tk. 250,000 / -

 

Zero

 

(B) Next Tk. 4,00,000 / -

Up to total income

 

10%

 

(C) Up to Tk.5,00,000 / - on total income

 

15%

 

(D) Up to Tk. 600,000 / - on total income

 

20%

 

(E) Up to the next 30,000,000 / - on the total income

 

25%

 

(F) On the remaining total income

 

30%

 

Then you need to figure out which income tax to pay, how much money or what percentage to pay.

 

Income tax varies from case to case. The unit of the employee is different from that of the businessman, but also that of the company and the artificial legal person.

 

 

 

The basic salary, special salary, bonus, expensive allowance of the working taxpayers are all taxable income. For example, if the basic salary of an employee is 30 thousand Tk  per month, then at the end of the year the basic salary of those 12 months is added and the taxable income is 3 lakh 60 thousand Tk. If the two festivals are equal to the basic salary, an additional Tk 60,000 will be added. Even if there is expensive allowance, it has to be added in the tax return.

 

Employees will get tax exemption on house rent. The employee is tax free, whichever is less than 50 per cent of the basic salary or Tk 25,000 per month. Suppose the basic salary of an employee for the whole year is 3 lakh 60 thousand Tk. The employee will be able to get tax exemption up to 1 lakh 60 thousand Tk. In the same way, the medical allowance of that employee will get a discount of 10 percent of the basic salary or whichever is less than 1 lakh 20 thousand Tk. In that case, the employee will get tax exemption up to Tk 36,000.

 

If the employer pays the travel expenses along with the salary. There is no need to pay tax up to 30 thousand BDT. a year. However, if an employee gets a car from the office, then 5 percent of the basic salary or up to Tk. 60,000 per year will be tax free.

 

If you suffer from life-threatening diseases such as heart, kidney, eye, liver and cancer, the amount of money your office pays for surgery is completely tax-free. However, the shareholder director of a company will not get this facility.

 

Many employees receive money at risk from their office's Workers Participation Fund. Even if you get Tk. 50,000 from such fund, it is not taxable.

 

Many companies pay their employees cash in return for leave. Cash payment for such leave is also tax free. However, it should be less than 60 thousand BDT. a year. Up to two and a half crore Tk. tax-free on gratuity after retirement.

 

The full income will not be taxed on rent. If you rent a house, you will get a discount of up to 25 percent of the annual income by showing the cost of repair and maintenance. In case of commercial rent, the rate is 30 percent. If the flat is not rented in any month, it should be excluded. Apart from this, municipal tax, land revenue, housing installment money will be excluded.

 

So friends understand that in order to find out this taxable income, it is necessary to do a lot of calculations.

 

There are various Income Tax Law Year, Accounting Firms, Chartered Accountants, Consultancy Firms to handle all these issues of Income Tax.

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Rules and registration fee for forming a private limited company bangladesh 2021-2022

 

Rules and registration fee for forming a private limited company 2021-2022

 A new investor has to start a business by following certain rules. First the new company has to be registered with the Registrar of Joint Stock Companies and Firms. The address of the registration office is TCB Bhaban (7th floor), 1, Kawran Bazar, Dhaka. It deals with the registration of companies, associations and partnership organizations in accordance with the Companies Act and other rules. There are separate rules for private limited companies and public limited companies

Basic Information of Private Limited Company 7

A private limited company has to have a minimum of two shareholders. And the maximum shareholder can be 50 people. In order to take more shareholders, a private limited company has to be converted into a public limited company. In the context of Bangladesh, a company is called a limited company based on the number of members and infrastructure of the company. A limited liability company in which the number of members is kept to a minimum of 2 or a maximum of 50 and the company is registered on the basis of limited liability under the law given to it, is called a privately owned limited company or private limited company. There are certain restrictions on the transfer and sale of shares of a private limited company. If any shareholder of a private limited company wants to sell his shares, he has to sell it among the existing shareholders. However, subject to their consent, the shares may be sold or transferred to an outside person or organization. The company cannot sell to the public any type of debt, including shares and debentures and bonds.

** Formation of Private Limited Company Process:

It has already been said that a minimum of 2 people and not more than 50 people can form a private limited company.

Necessary documents

(1) Company name (name clearance must be obtained)

(2) Union rules and association memorandum.

(3) Statement of shareholders (National identity card if the shareholder is a Bangladeshi)

(4) Director's Statement (with Tax Identification Number)

(5) Registered address

(6) Signed IX form

(6) Copy of passport of foreign shareholder and director.

Step-1: Name clearance:

To establish a company in Bangladesh, your first step is to get a name clearance for the proposed company name. You can apply for name clearance by visiting http://www.roc.gov.bd and creating an account in your own name. After applying for name clearance, you will get a bank payment slip and you have to deposit BDT.600 and 15% VAT i.e. BDT.90 in the designated bank. After making the payment, you will get a clearance certificate in the name when you log in to your account on the website again.

You can follow RJSC's guideline for name clearance. Click here to see the guide line.

The approved name will be reserved for 6 months from the date of clearance. You can extend the validity of the name by submitting a time extension request before it expires.

Step 2: Company registration

To register a company, one has to submit the required information on the RJSC website. You will also need to upload Form IX and the company's share-holding page (with signatures). After you complete all the process, you will get a bank payment slip to pay the registration fee along with stamp duty.

After making the payment to the bank, it is assumed that your work is done at a glance. RJSC officials will examine the documents and information you provide. If they are satisfied, the document will be digitally signed and the following documents will be sent to your e-mail.

1) Certificate of In-Corporation;

2) MOA and AOA; And

3) Form XII

Receiving these documents means that the company is registered. After registration of the company some more process has to be completed. The matter of tax has to be properly complied with as per the instructions of NBR. A trade license is required, in all cases a trade license is required. You can also register the company name or logo trademark to ensure security. However, it is important to register the name of the product or service provided by the company, the logo trademark, otherwise it may be counterfeit.

** Registration Fees:

Private companies (under the Companies Act, 1994)

Stamp fee:

1. For Memorandum of Association: tk.

2. For Articles of Association:

Authorized Capital (Money) Fee (Money)

20,000 to 3,000

More than 20,000,000 to 600,000 to 8,000

More than 600,000 to 20,000

Registration fee:

1. For filing 6 documents (5 forms and 1 memorandum and article of association) - 6× 400 Tk. per document = 2400 taka.

2. For authorized share capital:

Authorized Capital (Money) Fee (Money)

Up to 20,000 zeros

Extra zero for every 10,000 or part thereof of more than 20,000 to 50,000

Extra zero for every 10,000 or part of it, from 50,000 to 10,000,000

Over 100,000 to 50,000,000 per 100,000 or additional 50 for every part thereof

An additional 60 for every 1,000,000 or part thereof over 50,000,000

3. Digital Certificate Supply Fee = Zero.

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Private Limited and Public Limited Company Registration in Bangladesh

 Bangladesh, like other countries in the world, has to go through a legal process for company registration, fulfilling some initial and on-going regulatory requirements.

 

There are mainly two types of companies in Bangladesh- 1. Pvt. Ltd. and II. Public Limited Company.

 

According to the Companies Act of 1994 existing in Bangladesh, in case of a private limited company a minimum of 2 persons and a maximum of 50 partners or partners are required. However, the recent amendment to the Companies Act provides for the opening of a company by One Person Company (OPC) or just one person. In today's article we will discuss how to register a private limited company in Bangladesh, how much time it takes, how much money it costs etc.

 

Before we start discussing the registration process of the company, it is very important to discuss some basic issues.

 

If you start a shop on a private initiative or a small business, you can start a business with just a trade license, and then you will be the proprietor or owner of the business and if you form a company, you will be. Chairman of the Company, one of the Board of Directors, or Managing Director.

 

While there is no legal complication for starting a sole-proprietorship concern or sole proprietorship, there are a number of legal compliance for starting a private limited company ....

Determining capital:

 

There are different types of capital, such as initial capital, share capital, equity capital, net capital, which will take a long time to discuss. However, the two most important types of capital are authorized capital and paid up capital or paid up capital.

 

The authorized capital of a company is the maximum capital limit that is set and approved at the start of the company;

 

Suppose your company has an authorized capital of Tk. 1000, and 10 partners, then a maximum of 10 shares out of ten can be distributed for 100 Tk.

 

Paid-up capital is an amount within the authorized capital limit that must be deposited in your business bank account.

 

To register a company in Bangladesh, you need to have a minimum paid-up capital of Tk. For example, if the paid-up capital is TK.500 within the authorized capital of Tk.1000 / -, then Tk.500 should be deposited in your business bank account, if it is Tk.100 paid-up capital, then Tk.100 should be deposited. This money can then be withdrawn and spent at any time for business needs.

 

Not to mention two more important issues after this-

 

Memorandum of Association or MOA for short

 

The Memorandum of Association is a description of the company's goals and functions, including the name of the business, the type of business, the purpose of the business, the amount of authorized and paid-up capital, and so on. The word Limited must appear at the end of the name of the Private Limited Company.

 

Article of Association or AOA for short

 

Articles of association The rules of management of the company will include how the company director will be elected, AGM, how the general meeting of the company and special meeting will be held, how new members will be hired, how a member will be expelled, how dividends will be distributed. Etc. The issues are described in detail in the Article of Association.

 

Memorandums of Association and Articles of Association are best prepared by a lawyer with experience in company law.

STEP-01: Name clearance

 

The first step in registering a company is to check if the name you want to register the company is available, if your desired name is available then apply for name clearance. Your company name must be unique, meaning there will be no other registered company in Bangladesh with this name. You can easily check if your preferred name is available from RJSC's servers, and if it is free, you can apply for name clearance.

 

 

 

 

Once you get the name clearance, you can start the company registration process.

To register a company, one has to input all the required information on the RJSC website, scan the documents like Memorandum of Association, Article of Association, list of directors, etc. and upload the documents. If everything is successfully uploaded and submitted, there will be an option to download the bank's payment slip for depositing other government fees including registration fee. You have to print the slip and deposit the fee in the designated bank. After that the Memorandum of Association, Original Copy of Article of Association, Form-1, Form-6, List of persons willing to become a Director, Director's Consent Letter, Form-12 etc. must be duly filled and submitted to the Registrar's Office of the joint venture company.

 

RJSC officials will then examine your uploaded documents and, if all goes well, approve your company registration application, meaning that your company registration has been successful and you will receive an e-signed Certificate of In-Corporation, MOA, AOA and Form-xii. Will send.

 

 

 

Receiving these documents means your company is registered. You will need to collect some more certificates to start business activities after the company is registered. The amount of this certificate may vary depending on the type and nature of the business. Certificates that are mandatory after company registration:

 

    Trade license

 

    Tin certificate in the name of the company

 

    VAT registration etc.

 

Once everything is ready you can start business activities.

 

So friends, so far today, if any of you have any questions, you can comment. If you like the article, you can share it with your friends. Regularly you can subscribe to our blog to get our articles in your email inbox, I invite you to read the next article, stay well till then, stay healthy, Allah Hafez.

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