Success tips when doing business in Bangladesh in 2024
- Government agencies play an important role in doing business in Bangladesh. All businesses deal with government agencies on a regular basis, and foreigners setting up a business in Bangladesh should exercise restraint and be patient as much as possible, despite having to potentially deal with extensive red tape, as authorities will always have the final say in any administrative matter;
- As not all local Bangladeshi companies are well-versed with international trade, we encourage our Clients to consistently use and sign contracts of service with their suppliers and counterparties in Bangladesh;
- Your joint venture partner or Bangladesh shareholder must not merely be a nominee for the sake of meeting the rules of foreign company incorporation. You should choose a partner that actually brings a lot to the table, including knowledge which would help your company succeed in Bangladesh;
- When you’re starting a new business it’s important to find out which of Bangladesh’s registrations and licenses apply to your firm. Navigating this system can be a complex task, as different branches of the government will handle registration and licensing for various aspects of your business.
