TRADE LICENSE PROCESS AND COST in Bangladesh:
Obtaining a trade license is the first step in starting a business. Doing business in Bangladesh necessitates formal authorization from an essential office of the Dhaka City Corporation or Municipality (Union Parishad, Pouroshava, Upozilla, or Zilla parishad). This permission is granted as a Trade License. This article discusses the trade license application and cost in Dhaka, Bangladesh.
Initial Step and how to start getting your trade license:
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 licensing form/structure. Working in business in Bangladesh without an exchange permit is illegal. To successfully obtain an exchange permission, the business visionary must use the appropriate structure and apply through the key expert’s office.
Dhaka City Corporation, for example, is divided into two sections, North and South. The candidate will be asked to select the appropriate structure based on the territory where the firm is located. To begin, a legal authorization and trade permit from the applicable business zone’s City Corporation or City Council must be secured. The cost of obtaining a business permit is BDT 2000.
PROCEDURE of getting trade license:
The procedure is managed 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 cause and nature of the calling, trade, or calling for which it was issued.
The concerned staff of the zonal tax collecting office issues a renewed Trade License. An exchange permit fee must be retained at any bank as indicated on the Trade License form/structure.
The following archives are required to obtain a trade permit:
- Dhaka City Corporation Application Form (North Form) or (South Form)
- Entrepreneur’s national identification card
- A recent receipt or proof of ownership
- Work Permit from the Board of Investment Statement of Bank Solvency&TIN Certificate Recent passport-size photo of the entrepreneur
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 included in serial 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 laws and regulations.
- In the event of a clinic or a private hospital, authorisation 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 event 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 event of a labor agency, approval from the civil aviation authorities is required.
TIME LIMIT FOR PROCESSING:
The processing time for issuing the license is projected to be 3-4 working days, but this may vary depending on the nature of the firm.
PAYMENT FOR RESERVED ADMINISTRATION:
The entry fee is BDT 10.00.
The license charge 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 dependent on paid-up capital.
BUSINESS CERTIFICATE REnewal (COMMERCIAL COMPANIES): Business licenses must be renewed on a yearly basis. The documents necessary are a License Book, which is delivered when the Trade License is issued, a Challan Book, proof of rent and receipt of ownership, and a TIN Certificate.
RENEWAL Process of Trade license in Bangladesh:
The candidate must keep the scheduled charges at the allocated bank. If the different requirements are completed, the City Corporation or Municipality’s relevant zonal office will complete the restoration operation after receiving the charge receipt.
TRADE LICENSING AT TRW law firm in Bangladesh:
TRW’s Barristers, Advocates, and Lawyers in Gulshan, Dhaka, Bangladesh have extensive expertise assisting clients with trade licensing. Please contact us at for any questions or legal assistance.
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