Expert Legal Guidance for Your Business
Comprehensive Business Legal Solutions in Bangladesh
Navigate the complexities of business setup and legal compliance with our expert team at TRW Law Firm. We specialize in providing tailored legal services to help your business thrive in Dhaka.
Company and Corporate
Our Legal Services
Company Formation
We offer comprehensive support for establishing private and public limited companies, ensuring compliance with all legal requirements.
Licensing and Registrations
Our team assists with obtaining necessary licenses and registrations, facilitating smooth business operations in Bangladesh.
Audits and Financial Accounting
Ensure your business’s financial health with our expert audit and accounting services, tailored to meet your specific needs.
Understanding Private Limited Companies
A private limited company in Bangladesh is a preferred choice for many entrepreneurs due to its distinct characteristics and benefits. This type of company is privately held, meaning its shares are not available to the general public. One of the key advantages is the limited liability protection it offers to its shareholders, which means their personal assets are safeguarded against the company’s debts and liabilities.
Additionally, private limited companies enjoy greater flexibility in management and operations compared to public companies. They are not required to disclose as much financial information publicly, allowing for more privacy in business dealings. Furthermore, these companies can attract investment more easily due to the credibility and structure they provide, making them an attractive option for both local and foreign investors.
Establishing a Public Limited Company
Regulatory Requirements for Public Companies
Setting up a public limited company in Bangladesh involves adhering to specific legal and regulatory requirements. Initially, the company must obtain a certificate of incorporation, which is a prerequisite for any business entity. However, to commence business operations, a public company must also secure a trading certificate, ensuring compliance with the necessary legal frameworks.
Public companies are subject to stringent regulations, including the obligation to disclose financial statements and other relevant information to the public. This transparency is crucial for maintaining investor confidence and ensuring market integrity. Furthermore, public companies must comply with the rules set by the Bangladesh Securities and Exchange Commission, which oversees the issuance of shares and the conduct of public offerings.
Key Legal Statutes for Companies
- Companies Act, 1994: Governs the formation, regulation, and dissolution of companies in Bangladesh, providing a comprehensive legal framework for corporate entities.
- Partnership Act, 1932: Regulates partnership firms, detailing the rights and responsibilities of partners in a business partnership.
- Societies Registration Act, 1860: Facilitates the registration and functioning of societies, promoting transparency and accountability in their operations.
- Trade Organizations Ordinance, 1961: Establishes the legal guidelines for the formation and operation of trade organizations, ensuring fair practices in trade and commerce.
- Bankruptcy Act, 1997: Provides the legal procedures for dealing with insolvency and bankruptcy, protecting the rights of creditors and debtors.
- Foreign Exchange Regulation Act, 1947: Controls and regulates foreign exchange transactions, crucial for businesses engaged in international trade.
- Customs Act, 1969: Outlines the regulations for import and export activities, including the clearance of goods and payment of duties.
- Income Tax Ordinance, 1984: Specifies the tax obligations for individuals and corporate entities, ensuring compliance with tax laws.
- Arbitration Act, 2001: Provides the legal framework for resolving disputes through arbitration, offering an alternative to traditional litigation.
- Labour Act, 2006: Regulates employment conditions, worker rights, and industrial relations, promoting fair labor practices.
- Environmental Conservation Act, 1995: Sets the standards for environmental protection, ensuring sustainable business operations.
- Intellectual Property Rights Act, 2000: Protects the rights of creators and inventors, fostering innovation and creativity.
- Money Laundering Prevention Act, 2012: Aims to prevent and combat money laundering activities, ensuring financial transparency and integrity.
- Anti-Corruption Commission Act, 2004: Establishes the framework for preventing and addressing corruption in business and government sectors.
- Investment Promotion and Protection Act, 1980: Encourages foreign investment by providing legal protection and incentives for investors.
- Consumer Rights Protection Act, 2009: Safeguards consumer interests, ensuring fair trade practices and product safety.
- Information and Communication Technology Act, 2006: Regulates the use of digital technologies, promoting cybersecurity and data protection.
- Public Procurement Act, 2006: Governs the procurement processes of government entities, ensuring transparency and fairness in public contracts.
Unlock Your Business Potential with Expert Legal Guidance
Navigate the complexities of business setup with confidence. Our seasoned legal team at BDLP is here to provide you with comprehensive support, ensuring a seamless journey from inception to operation. Reach out today to explore how we can assist you in establishing a robust business foundation.
