BangladeshBest Business Opportunities in Bangladesh and Types of Business in 2024

November 24, 2023by Tetra Consultants0
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  • With a highly competitive business environment and large labour force present Bangladesh has become one of the attractive spots for many business opportunities. Moreover, Bangladesh has been one of the fastest-growing economies of the world with a steady growth rate of 6% (Which has been increasing). 
  • These charts presenting the rapid growth induces many entities to register company in Bangladesh and grab many business opportunities in Bangladesh.  
  • The country has been taking a competitive advantage of its strategic location in the southern parts of Asia, helping in linking with other members of the Asia-Pacific Trade Agreement and South Asian Free Trade Area. 
  • Furthermore, with the easy foreign ownership grants and a high degree of openness to the foreign investment makes the country more attractive and appealing for many foreign investors and entrepreneurs helping in constructing a strong economy of the country. Adding to which, Bangladesh has been a member of various trade agreements and treaties enabling businesses to export goods with ease and at a reasonable price and in providing a global opportunity.  

Best business opportunities in Bangladesh 

Fashion house 

  • Fashion houses are becoming very popular in Bangladesh in recent years because of the availability of resources at a cheaper price. Thus, fashion industry in Bangladesh has been accounting for a significant portion of the country’s export earnings.  
  • These fashion houses require a moderate amount of capital, but the returns can be exponential if done correctly.  

Livestock and poultry farming 

  • This business includes raising animals for milk, meat, and eggs and because of the increasing population of the country the demand for these products is always growing.  

Information Technology 

  • With a booming and thriving economy of Bangladesh, the IT sector is also booming. The country has abundant supply of skilled IT professionals and low-cost operating environment which makes it much more feasible for IT industries to come to Bangladesh.  

Renewable energy 

  • Bangladesh has a lot of potential for renewable energy including, solar, wind and hydro. To promote renewable energy the government has been providing various incentives and subsidies to those company who are generating this energy.  
  • The energy sector is one of the important sectors in Bangladesh as the country has been facing energy shortage and thus, it is one of the best opportunities in Bangladesh to be grabbed. 

Digital marketing agency 

  • With booming online presence of brands and service providers, every industry needs digital marketing services which can improve their online presence. The digital agency in Bangladesh can provide these services at a very affordable rate to the foreign industries and businesses. 
  • Thus, if you are willing to operate a digital marketing agency in Bangladesh, Tetra Consultants can help you with various business services which you will require in the process of making your business operational. 

Types of business in Bangladesh 

Sole trader 

  • It is one of the simplest forms of business structure which can be operated in Bangladesh. The business involves a single person to own and operate the whole business. If you are willing to operate as a sole trader, you will not have to worry about the capital requirement as the legislative framework provides no capital requirement for sole traders. 
  • These type of business in Bangladesh does not have a separate legal entity which implies that the owner of the business is personally liable for all the business debts and obligations.  
  • Operating as a sole trader in Bangladesh, you will be required to obtain certain trade license which can be obtained by Tetra Consultants on your behalf through our offshore financial license services 

Partnerships 

  • A business co-owned by two or more partners is a partnership business. You can carry out various activities through this type of business in Bangladesh.  
  • The partnership businesses require various trade permits and licenses which can be obtained easily by the engagement with Tetra Consultants which will make ease out the process for you. 
  • Further, these partnership businesses do not have requirement of minimum capital requirement which makes it easy for businesses to set their businesses. 
  • Engagement with Tetra Consultants can be beneficial as we can conduct the whole offshore company incorporation process for you on your behalf and you will not have to worry about any compliances as we will be there to adhere to all the compliances within the stipulated timeframe. 

Private limited company 

  • It is a separate legal entity which is managed by the Board of Directors and owned by its shareholders.  
  • The statutory requirement for this type of business in Bangladesh includes: 
  • A private limited company must have at least two shareholders and can have a maximum of 50 shareholders. 
  • According to the Companies Act 1994, any person (foreign or local) above the age of 18 can register a company in Bangladesh. 
  • No residency requirement for directors and shareholders.  
  • Obtaining name clearance certificate, Tax Identification Number (TIN), and VAT registration certificate. 
  • Drafting of Memorandum and Articles of Association 
  • Minimum capital required to form a private company in Bangladesh is US$ 1. 
  • Further, these statutory requirements can be fulfilled by our experts at Tetra Consultants. We are well versed with the bylaws of Bangladesh and can draft legal documents for your company. Moreover, we can also help you with corporate bank account opening as it is also essential to have a bank account for easy financial transaction.   

Public limited company 

  • A separate legal entity whose membership is open to public. The Registrar of Joint Stock Companies and Firms (RJSC) provides detailed guidelines required to be adhered for registering a public limited company. 
  • The regulatory requirement for public limited company includes: 
  • A public limited company must have at least three directors. 
  • A public limited company must have at least seven shareholders, and there is no maximum limit on the number of shareholders. 
  • There are no nationality requirements for directors and shareholders in Bangladesh. 
  • There are no specific age requirements for directors and shareholders in a public limited company. 
  • There is no official minimum capital requirement for a public limited company, but it must have a minimum of BDT 5,000,000 authorized capital. 
  • If your company in future requires any local director or shareholder Tetra Consultants can provide you with that through our nominee director and shareholder services. Further, we can also help you with various other compliances for you company through our regulatory compliance services. 

Branch office 

  • An extension of any foreign office in a different country will be a branch office. It requires approval from the Bangladesh Investment Development Authority (BIDA) to operate in Bangladesh.  
  • The branch office must maintain a liaison between the branch office and the parent company. Moreover, the branch office is also required to have various documents for incorporation which can be taken care of once the engagement starts with Tetra Consultants. 

Conclusion 

  • There are many exciting business opportunities in Bangladesh making it an appealing location for entrepreneurs and investors. Moreover, there is a significant potential for investment in many attractive sectors for investors to consider. The government has been taking encouraging steps to promote investment in various sectors of the economy and to create a favourable business environment which is feasible and attractive for many foreign entrepreneurs.  
  • Our experts can provide you with various ancillary services for your business, eventually providing you with extra time to focus on other important aspects of business.  
  • Contact us to find out more about the business opportunities in Bangladesh and various types of business in Bangladesh, and our dedicated and experienced team will respond within the next 24 hours. Tetra Consultants will not only empower you by helping to navigate the different regulations of Bangladesh but also aid in facilitating the registration of your company there while providing invaluable, nuanced insights into any potential challenges. 

Tetra Consultants

Tetra Consultants is the consulting firm that works as your advisor and trusted partner in your business expansion. We tell our clients what they need to know, instead of what they want to hear. Most importantly, we are known for being a one-stop solution for our valued clients. Contact us now at enquiry@tetraconsultants.com for a non-obligatory free consultation. Our team of experts will be in touch with you within the next 24 hours.

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