March 15, 2023

TRADE LICENSE PROCESS AND COST in Bangladesh

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TRADE LICENSE PROCESS AND COST

Contents hide

1 TRADE LICENSE PROCESS AND COST

2 FIRST STEPS:

3 PROCEDURE:

3.1 The following are required for obtaining a trade license in Bangladesh:

4 ADDITIONAL DOCUMENTS REQUIRED FOR TRADE LICENSE:

5 TIME LIMIT FOR PROCESSING:

6 PAYMENT FOR RESERVED ADMINISTRATION:

6.1 BUSINESS CERTIFICATE Renewal (COMMERCIAL COMPANIES):

7 RENEWAL STRATEGY:

8 Hire the best law firm in Bangladesh to start your business

Obtaining a trade license is the first step in starting a business. Doing business in Bangladesh necessitates a formal authorization from an important office of Dhaka City Corporation or Municipality (Union Parishad, pouroshava, upozilla, or zillaparishad). This permission is granted as a Trade License. This article discusses the trade license application and cost in Dhaka, Bangladesh.

FIRST STEPS:

To obtain a Trade License in Bangladesh, the legal basis for this requirement is presented in Bangladesh under the City Corporation Taxation Rules 1983 and Municipal Taxation Rules 1986. It is granted when a business visionary is linked via the license form/structure. Working for a living in Bangladesh without an exchange permit is illegal. a lot of the time in the country.

Dhaka City Corporation, for example, is divided into two sections, North and South. The candidate will be required to select the appropriate structure based on the territory where the business is located. To begin, the relevant business zone’s legal authorization and trade permit must be obtained from the City Corporation or City Council. The cost of obtaining a business permit is BDT 2000.

PROCEDURE:

The procedure is overseen by the City Corporation or a city committee in the city where the business is located. A permit is issued solely for the licensee’s benefit and is not transferable. The licensee will not use the permit for any other purpose other than the reason and nature of the calling, trade, or calling for which it was issued. The concerned staff of the zonal tax collection office issues a renewed Trade License. An exchange permit fee must be kept at any bank as specified on the Trade License form/structure.

The following are required for obtaining a trade license in Bangladesh:

Dhaka City Corporation Application Form (North Form) or (South Form)
Entrepreneur’s national ID card Recent receipt or proof of ownership
Recent passport-sized photo of the entrepreneur Work Permit from the Board of Investment Bank Solvency
TIN Certificate

ADDITIONAL DOCUMENTS REQUIRED FOR TRADE LICENSE:

In the case of a general trade license, an attested copy of the rent receipt or rental agreement, as well as a copy of the Holding Tax payment receipt, is required.
In the case of a trade license for industries, everything listed in number 1 plus:

On the surrounding Location Map, there is no objection declaration.
Fire certificate copy
Declaration on non-judicial stamp of tk 150/ to follow DCC rules and regulations.
In the case of a clinic or a private hospital, permission from the Director General of Health is required.
Memorandum of Articles in the case of a Limited Company Incorporation Certificate
In the case of a printing press and a residential hotel, DC permission is required.
In the case of a recruitment agency, a license from the Manpower Manpower Export Bureau is required.
In the case of Arms and Ammunition, a copy of the Arms License is required.
In the case of drugs and narcotics, a copy of the drug/narcotics license is required.
In the case of a labor agency, approval from the civil aviation authority is required.

TIME LIMIT FOR PROCESSING:

Processing Time Estimate The time it takes to issue the license is 3-4 working days, but this may vary depending on the nature and type of business.

PAYMENT FOR RESERVED ADMINISTRATION:

The entry fee is BDT 10.00.
The license fee ranges from BDT 100.00 to 40,000.00 depending on the nature and type of business.
The license fee for a limited company is determined by its paid-up capital.

BUSINESS CERTIFICATE Renewal (COMMERCIAL COMPANIES):

Business licenses must be renewed on a yearly basis. The documents required are the License Book, which is provided when the Trade License is issued, the Challan Book, proof of rent and receipt of ownership, and the TIN Certificate.

RENEWAL STRATEGY:

The candidate must keep the planned charges at the assigned bank. If the various requirements are met, the City Corporation or Municipality’s relevant zonal office will complete the restoration procedure after receiving the charge receipt.

Hire the best law firm in Bangladesh to start your business

Tahmidur Remura Law Firm’s TRADE LICENSING: Lawfirm’s Barristers, Advocates, and Lawyers in Mohakhali, Dhaka, Bangladesh have extensive experience assisting clients with trade licensing. For queries or legal assistance, please reach us at:

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