Investing in Bangladesh: Incentives
If you wish to set up an operation in Bangladesh, your best contact point is the Office of the Bangladesh Investment Development Authority (BIDA), which operates under the Prime Minister’s office and is the principal government agency for encouraging investment. The BIDA is available to assist you in numerous ways, including:
Income, profits and gains from an industrial undertaking set-up in Bangladesh between the first day of July, 2011 and the thirtieth day of June, 2019 (both days inclusive) shall be exempted from the tax payable under this Ordinance for the period, and at the rate, specified below:
- Offers an attractive and competitive package of tax incentives.
- Imposes no foreign equity restrictions on manufacturing activities or on some service.
- Provide assistance in the provision of visas and work permits to facilitate entry and subsequent operation for a foreign-owned business.
- Waives restrictions on land ownership by foreign entities.
- Provides comprehensive information and advice on establishing operations in Bangladesh.
- Arranges site visits.
- Identifies potential suppliers, subcontractors, joint-venture partners.
- Provides useful contacts with key public and private organizations.
- Coordinates between the foreign business community and other public agencies.
Assistance in Setting up a Business
The BIDA offers a range of valuable business-related services to the international and national investment community. The office helps prospective investors and promoted firms in obtaining official permits and documents required for conducting business, including visas, work permits and permanent residency permits. The BIDA also assists investors in gaining access to utilities such as water, electricity, gas, land and telecommunications.
Information on Investment Opportunities
The Investment Services Center maintains comprehensive information on investment opportunities in Bangladesh, both by sector and by district. Information and investment advice is readily available to both Bangladeshi and foreign investors at no charge.
One Stop Service Center
The BIDA coordinated the establishment of a One-Stop Service Center for
- Trade License from respective city corporation and local government body are given within 48 hours, assuming all required documents are provided. Bangladesh Investment Development Authority with local government division insures this service.
Company registration from Joint Stock Register’s office company registration complete within 48 hours.
- Registration of Bangladesh Investment Development Authority is complete within a day, assuming all required documents are provided.
- Electricity connection’s result are given within 10 days after receive the application from BIDA where representative of power development board authority is working.
- Assistance for Land acquire are supported by BIDA.
- Environmental certificate are given within 10 days from BIDA where respective officer from Environment Department are working.
- From Bangladesh Investment Development Authority representative of Titas Gas Authority the result of gas connection are given within 10 days from the date of application received.
- Foreign loan borrowing application disposed within 30 days assuming all required documents are provided.
- Tax related complication is taken from BIDA by respective National Board of Revenue officer after getting application from entrepreneur and result are given within 10 days.
- Online services also provided by BIDA.