Registering a joint stock company in Bangladesh is a very troublesome matter. There are many steps to go through to register a joint stock company, which must be done correctly. After completing all these steps, registering a joint stock company in Bangladesh is possible.
Today in this discussion, you will learn all the steps to register a company in Bangladesh. We have researched and presented all the steps here, which you can follow to register a joint company easily.
Joint Stock Company Registration in Bangladesh
It would be best if you keep several things in mind before registering a joint stock company in Bangladesh. Every organization must have at least two directors; no person under 18 or bankrupt can be appointed as a director.
A private company can have a minimum of two to a maximum of 50 partners. On the other hand, in the case of a public limited company, there should be at least seven partners, which can be considered partners of any other company.
The company should have a constitution that will spell out all the relations of the company well, and the company should be governed accordingly. Such a constitution must be shown at the time of registration.
Let’s see at this stage how to register a joint stock company in Bangladesh. Follow these steps to know them.
Joint Stock Company Online Registration Process
You will need to complete each of the steps we will discuss now. Notice if the steps are good from start to finish and go through them individually. Then you can register the company properly.
- First, visit the Directorate of Joint Venture Companies and Firms website.
- Then Create a user ID.
- then Apply for name clearance.
For this application, a payment slip will be issued from the website through which you can deposit the government fee of TK 200 and VAT of TK 30 for the name clearance at the designated bank. Re-login to your user ID after making the deposit.
Preparation of Documents
After accepting the name everywhere, you need to collect some important documents. All these documents must be presented at the time of registration. Those documents are mentioned below.
For private companies-
- Original copy of Memorandum of Association and Articles of Association (with two additional copies)
- Filling of Form I- Declaration of Company Registration
- Completion of Form VI – Notice of the location of registered office or change thereof
- Completion of Form IX – Director’s Consent Letter
- Filling up Form X – List of persons intending to be directors
- Filling up Form XII – Details of Directors, Managers, and Managing Agents and any changes thereto
- Name clearance
For public companies-
- Original copy of Memorandum of Association and Articles of Association (with two additional copies)
- Filling of Form I: Declaration of Company Registration
- Completion of Form VI – Notice of the location of registered office or change thereof
- Completion of Form IX – Director’s Consent Letter
- Filling of Form X – List of persons intending to be directors
- Filling up Form XII – Details of Directors, Managers, and Managing Agents and any changes
- Declaration before the commencement of business in case of company filing statement instead of
- Form XIV filling-in statement
- Completion of Form XI (where applicable) – Agreement to take up qualifying shares of the proposed company
- Name clearance
Bank Account Opening
Before registering the company, you need to open a bank account for this company. You must provide this bank account certificate at the time of registration.
You have to open a bank account with the permission of all the shareholders and in the name of all the shareholders. This bank account certificate must be presented at the time of registration.
Submit the Registration Application and Documents
This is the last stage of registration. Here you need to apply for company registration. You can do this application online. To apply online, you have to visit the official website of the Register of Joint Stock Companies and Firms.
After entering this link, you will get many options. From all the options, you have to click on the option called Apply for Registration. If you click here, some forms will appear in front of you.
You need to upload some documents here, which are shown above. You have to fill all those documents here step by step, and after filling them, you have to go to the bank account and deposit the money.
The prescribed fee will be written here. You have to go and deposit the amount written in the bank, and you have to print the receipt and bring it. The bank will complete your registration, and it may take some time. I will have to wait until then.
But remember, you have to register the company within 30 days of receiving the name clearance. Otherwise, you have to apply for the name again.
If the registration is not done or the registration is delayed for any reason after completing the online application, you have to go to the office and talk to them. If they ask you to produce other documents, you have to produce them. By doing this, your registration will be completed.