How to Set up a Limited Company?
Hello, Everyone how are you? Today, I came here with an important topic about creating a Limited Company. How to create, how to set up everything you will know from todays post.
What is called a company?
A company is any entity in which the business is involved. It can be structured differently. For example, your company may be a sole proprietorship, partnership or corporation. It can be owned by one person or a group, depending on the type of company you are dealing with. Generally, a company is called a company when it is formed by law.
What are the benefits of forming a company?
Managing large-scale production activities.
The amount of risk remains low to shareholders.
People have more confidence in the company.
Have easy access to bank loans.
To exist forever.
Contains the artificial person.
Easily transfer ownership shares.
What does it take to create a company?
Minimum of 2 Entrepreneur and their Identity.
How much the registration fee?
Fees vary depending on the company’s Authorized Capital. If the company’s authorized capital is Tk 1 Lac, then the government fee will be about Tk 20,000. There are 5% VAT on 20 thousand (20,000*15%)= Tk 3000. It turns out that the total government spending fee is Tk 23,000.
If the company’s Authorized Capital is higher, the fee will increase and if the Authorized Capital is less, the fee will be decreased. In addition to government fees, there are other costs, such as lawyer fees, office fee documentation fees etc.
The process for registration a Limited company-
These documents required for a company registration.
Election Card or Voter Identity Card.
You need to select a name for your company. Note here that there must be kept the ‘limited‘ word at the end of your preferred name.
Now check, the eligibility of name from this website-
2. Apply for the registry in your name, with the preferred fee paid. After receiving your application for the name, Zens tock will give you a certificate of approval if they are satisfied with the verification. After getting the name clearance, you should prepare a memorandum and article of association of the company known as the constitution of the company through a skilled lawyer.
3. After preparing the memorandum and the Articles of Association, there are many forms of company for the registration. Complete the forms correctly.
4. When everything is done, submit a scanned copy of the memorandum and other papers, including the Articles of Association to Zenstock’s website for final editing of the company registration.
Zens tock, if they are satisfied with your paperwork and everything is fine, they will issue your Company Certificate of Incorporation in a timely manner.
5. After getting the company license, your first task is to open a bank account in the name of your company.