Business Setup in South Asia

Why doing business in South Asia?

Business prospects flourish in South Asia, where the market landscape is dynamic and changing quickly. With a combined population of over 1.8 billion, the region offers a sizable consumer base that is eager to buy products and services from a wide range of businesses. The expanding middle class in South Asia, along with rising levels of urbanization and disposable income, is driving a strong demand for a wide range of goods and services. Furthermore, South Asia is a vital hub for international trade due to its advantageous location at the intersection of important trade routes. Businesses can take use of the region’s connectivity to access markets not just within South Asia but also across Asia, the Middle East, and beyond, thanks to ports, airports, and transportation networks that facilitate efficient trade flows.

Choosing Bangladesh as a business destination within the South Asia region offers several compelling advantages for companies looking to expand their operations. Bangladesh has seen a number of investments and new enterprises come to the country as a result of the government’s efforts to boost the business climate in the nation. Bangladesh currently offers an outstanding alternative to the standard Asian industrial and service sector.

Setting up a business in Bangladesh can be an attractive proposition for several compelling reasons. Firstly, Bangladesh boasts a growing and diverse consumer market with a population of over 160 million people. This provides a substantial customer base for various industries and products. Additionally, the country offers a favourable cost of labour, making it cost-effective for manufacturing and outsourcing operations. Bangladesh’s strategic location in South Asia also provides access to neighbouring markets, enhancing trade opportunities. Moreover, the government has taken steps to improve the ease of doing business, streamlining administrative processes and creating a more investor-friendly environment. With these factors in mind, entrepreneurs and investors often see Bangladesh as a promising destination for business expansion and growth.

How we can help you

Setting up a business is a long and complex process for which partnering up with an accounting and financial form would be a wise decision. Outsourcing services from a trusted and reliable accounting firm can be beneficial in several sectors. Firstly, navigating the regulatory landscape in Bangladesh can be complex and challenging, with numerous legal and compliance requirements specific to various industries. Secondly, an accounting firm can assist with the often intricate process of company registration and tax compliance.

Furthermore, managing finances and bookkeeping in Bangladesh can be intricate due to tax laws and financial regulations. Additionally, these firms offer insights into local accounting practices and can provide valuable financial advice tailored to the Bangladesh market. This guidance is crucial for making informed business decisions and optimizing your financial strategies for success.

Business Setup service

Our accounting firm offers comprehensive business setup services to assist both local and foreign entrepreneurs in establishing and managing their businesses. These services are designed to help clients navigate the complexities of starting a business in Bangladesh efficiently and in compliance with local laws and regulations. Here’s an overview of the typical services offered by de tempête:

Business Idea and Market Research:

We will assist you in researching the market to understand the demand for your product or service in Bangladesh by identify your target audience and competitors and also Ensuring your business idea aligns with local preferences and needs.

Company Registration:

Our service includes registering your business with the Registrar of Joint Stock Companies and Firms (RJSC) in Bangladesh and obtaining a Trade License from the local City Corporation or Municipality.

Location and Office Setup:

Finding a suitable location for your business premises, if required and securing any necessary permits or licenses related to your business location are included in this service

Legal Compliance:

Assisting to comply with all local laws and regulations, including labor laws, environmental regulations, and foreign exchange regulations.

Business Permits and Licenses:

Depending on your industry, assist on acquiring specific permits and licenses, such as environmental clearances, import/export licenses, or industry-specific approvals.

Market Entry Strategy:

We can assist you in Develop a marketing and sales strategy tailored to the local market considering partnerships, distribution channels, or online platforms for reaching customers.

Intellectual Property Protection:

If your business relies on intellectual property our firm will help you considering trademark or patent registration for protection.

Insurance:

Exploring insurance options for your business, such as liability insurance or property insurance.

Business Structure:

Deciding on the legal structure for your business. Options include sole proprietorship, partnership, private limited company, or branch office of a foreign company. we cooperate choosing a suitable name for your business and ensure it's not already in use.

Tax Registration:

Our business setup service support by registering for tax purposes with the National Board of Revenue (NBR) and also getting a Tax Identification Number (TIN) for your business.

Bank Account:

Opening a business bank account in a local bank in Bangladesh which is essential for financial transactions.

Capital Investment:

Our firm helps you Determining the initial capital required to start and operate your business. We also advice you on considering funding options, such as personal savings, loans, or investments.

Hiring Employees:

If your business requires employees, adhere to labour laws and employment regulations, this firm will provide service on that. Also, registering your employees with social security and ensure their proper documentation.

Accounting and Bookkeeping:

Maintaining accurate financial records and hire an accountant, if necessary and providing support in tax filing deadlines and comply with tax regulations.

Networking:

Building relationships with local business associations, chambers of commerce, and industry groups. Also attend relevant events and engage with potential clients, suppliers, and partners.