The Ministry of Commerce commits the cost of registering the company for the easy development of the World Bank or for its dual-business business. From now on there will be no money to register the company’s capital up to Taka 10 lakh. Earlier, for every 10 thousand rupees, the registration fee of Taka 100 would have to be paid.
The Ministry of Commerce issued a notification on Tuesday, reducing the cost of registration. Earlier, the government increased the cost of registration of the company in 2016. The following year, Bangladesh’s dual business deteriorated in a dual business. This year, the end of the reform process for the development of dual business is April 30.
Earlier, the commerce ministry reduced the registration cost by issuing the notification. Bangladesh Investment Promotion Authority (BIDA) has been requesting the Ministry of Commerce for a long time to reduce registration costs. Asked about the company’s executive chairman Kazi M Aminul Islam, “It is not just the cost of registration of the company, it has many reforms.
If the World Bank sees the benefits of these reforms by surveying the field, then this year Bangladesh is expected to improve 20-25 steps. ” He said, the reforms that are being met, the benefits of the same. It is a matter of how fast it is available. Bangladesh’s position in 189 countries is now 176th in the World Bank’s Easy of Dowing Business. By 2021, Bangladesh wants to come in two digits, that is, at least 99th position.
Foreign investors are believed to consider taking into account the progress of dual business in the country for investment planning in any country. Meanwhile, the Ministry of Commerce reduced the expenditure in 19 cases of the company registration. It is said in the new notification that if the company’s nominal share capital is not more than Taka 20,000, the registration fee will not be required.
Earlier in this case, there was a cost of 700 taka. Companies can also be registered free of up to Taka 20,000-10 lakhs. Earlier, the charges were 10 thousand to 350 rupees per month. Thus, in various cases the cost of registration up to 50 thousand and one thousand thousand taka has been reduced. The declaration of the cost of digital certificate will be reduced to Taka 1,000 from the price of free of charge.
Bidar director Touhidur Rahman Khan said that the cost of starting business in the country as the World Bank is 21 percent of the per capita income. Reduction of registration cost will result in 5 percent reduction. It will play a role in the development of dual business. Further reforms Bangladesh has reformed a number of issues in the year 2018 to improve the dual business.
This year, more reforms will be added to these reforms, and Bida hopes to achieve the benefits of previous reforms in the field. Among the new reforms, the permission for construction has been reduced from 16 process to 4. Company law has been simplified and allowed to open single-owned companies. In addition to making land registration easier, exporting the E.P.P. of the form online, according to several reforms, Bida said.