In order to set up a Branch office and the foreign investor intending to set up a Branch office, permission of BIDA will be required. For obtaining such consent, it is required to submit application in the prescribed form along with the following documents, which must be attested by the Bangladesh Embassy or High Commission of the country of origin or Apex Chamber of Commerce of the country of origin:
- Prescribed application form,
- Memorandum of Association (MoA) and Articles of Association (AoA) of the principal Company;
- Certificate of Incorporation of the principal Company;
- Name and nationalities of the directors of the principal Company;
- Board resolution to open a Branch office in Bangladesh;
- Audited accounts of the last financial year;
- Proposed organogram of the office showing the posts to be occupied by expatriates as well as local personnel;
- List of activities of the proposed office.
How much time required getting an approval from BIDA?
Once the aforementioned documents are submitted to BIDA, it takes about 2-3 weeks to get an approval for setting up a Branch office in Bangladesh.
How much fees are required for opening up a Branch Office?
The governmental fees for opening up a Branch Office are BDT 25,000 and an inward remittance of USD 50,000 needs to be remitted to the local bank account of the branch office from the Parent Company.