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The Essential Licenses For Doing Business In Bangladesh

Bangladesh has ranked 168th among 190 countries in the ranking of "Ease of the Doing Business 2020" by the World Bank. Last year, Bangladesh ranked 176th. One of the reasons for this improvement is that starting a new business has now become less expensive with the reduction of registration and name clearance fees and removal of the licensing fee for digital licenses.

When starting a business, one should always perform a preliminary regulatory diligence exercise to determine the licenses he/she would be needing. Below are given a list of basic licenses that one would need to operate a business in Bangladesh, regardless of the nature of the business:

Regulatory License' Services

Trade License

Trade License

Obtaining a trade license is among the first steps of beginning your business if you're considering operating a sole proprietorship, and the second step, if you're considering to establish a company or partnership (preceded by the company incorporation/execution of partnership deed).

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Import License (IRC)

Import License (IRC)

Import licensing provides protection from legal disputes and financial losses for businesses engaged in international trade. An import license is a permit to import an indicated quantity of certain goods over a specified period of time (typically one year).

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Export License (IRC)

Export License (IRC)

An export license is a document issued by the appropriate licensing agency after which an exporter is allowed to transport his product in a foreign market. Export license depends on the nature of goods to be transported as well as the destination port.

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Fire License

Fire License

Fire License is an obligatory permit which is required by all factories in Bangladesh as set out by the Fire Prevention and Fire Fighting Act, 2003. This Act sets out regulatory enactments in regards to the prevention, successful extinguishing of fire and also reduction of damages and consequences of fire.

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Environment Clearance Certificate

Environment Clearance Certificate

According to existing law, the environment clearance certificate is mandatory for the establishment of any kind of factories. In Bangladesh, the department of environment has vested with the authority to issue the Environment Clearance Certificates for the industrial units and projects.

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Factory License

Factory License

In Bangladesh, all factories and establishments must be registered with the Government in compliance with the provisions of the Factories Act and Rules. Factory Establishment License is a mandatory permit which shall be required by all factories in Bangladesh.

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Customs Bond License

Customs Bond License

What is bond license in Bangladesh? Bond License: In order to avail the Bonded Warehousing facility, interested enterprises will have to take a Bond License from the Customs Bond Commissionerate. Bond Licenses are issued and maintained as per the Bonded Warehouse Licensing Rules, 2008. To download the Bonded Warehouse Licensing Rules, 2008.

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BSTI Certificate

BSTI Certificate

Bangladesh Standards and Testing Institution is the authority in Bangladesh which gives certificate for standard of products. The organization started working in 1985 under Ordinance XXXVII of 1985. To launch a product in Bangladesh taking certification from BSTI is often required.

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Wondering Where To Start?

Understanding exactly what kind of license you need and how to register your business can be confusing. LICENSE BD & ASSOCIATES since 2003, who provide advice on licensing. They will give you personal advice, as your company may have multiple needs and will assist you during setup. They have worked with different industries so your business deserves to help you no matter what. They are a professional, reliable company.

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