How To Get Trade License In Bangladesh?
GGetting a trade license is among the first steps of starting your business. To start you need the legal permission and trade license from City Corporation or City Council of your business area is that way to be legal. As far system says, the process of getting trade license in Bangladesh is not complicated but due to lack of transparency and corruption it is almost impossible to get a trade license without bribe. So, if you know that, the cost of getting a trade license is BDT 2000 and you are going with a light mind to get your license then I’ll tell you to stop and check your money bag for extra lubrication money.
For writing this post, I tried to find out the exact cost for getting a trade license but alas there is no information. So, don’t over expect from this post. However, here goes some vital information on how to get your trade license that I believe will help. Learn more on financial technical analysis software from MBoxWave.
History: Trade License is being introduced in Bangladesh under the City Corporation Taxation Rules, 1983 . It is issued when an entrepreneur applied through the license form . You can download trade license form, Dhaka City Corporation South Here and North Here.
As far system says, getting trade license in Bangladesh is not complicated but due to lack of transparency and corruption it is almost impossible to get a trade license without bribe. So, if you know that, the cost of getting a trade license is BDT 2000 and you are going with a light mind to get your license then I’ll tell you to stop and check your money bag for extra lubrication money.
PProcess: The process is managed by the City Corporation or city council where the business exists. A license is issued exclusively in the name of the licensee and such license is not transferable. The licensee shall not use the license for any other purposes, except for the purpose and nature of profession, trade or calling it was issued. A renewed Trade License is provided by the concerned staff of the zonal taxation office. A fee for trade license has to be deposited at any Bank as indicated on the Trade License form.
RRequired Documents for Trade License:
1. In case of general Trade License – Attested Copy of Rent Receipt or Rental Agreement and also the copy of the Holding Tax payment receipt.
2. In case of Trade license for industries – Everything mentioned in serial no. 1 plus:
- No objection declaration on the surrounding
- Location Map,
- Copy of fire certificate
- Declaration on non judicial stamp of Tk 150/- to abide by the rules & regulation of DCC,
- One copy of passport size photograph
3. In case of Clinic/Private Hospital: permission from the Director General of Health.
4. In case of Limited Company :
- Memorandum of Article
- Certificate of In-Corporation
5. In case of Printing Press & Residential Hotel – Permission from Deputy Commissioner (DC).
6. In case of Recruitment Agency – License from Manpower Man-power export Bureau.
7. In case of Arms and Ammunition – Copy of Arms License.
8. In case of Drug and Narcotics – Copy of Drug/Narcotics License.
9. In case of Travailing Agency – Approval from civil aviation authority.
Over to you:
Getting trade license should be hassle free to make doing business easy. Like many other things in this country it does not work that way. But to promote business we need to make the process simple and easy.
What can we do to make these systems tick? Let us know your opinion in comment.
[Note: Since this is a legal type post, due to changes in legal structure parts or whole of the article may become irrelevant and require updates. WE try to keep these types of articles updated, even then sometimes we can’t. If you find anything outdated and needs to be updated please let us know in the comment. Thank you. ]