board of investment

BOARD OF INVESTMENT (BOI)

� Board of Investment (BOI) is a sponsoring agency (other sponsors are BEPZA and BSCIC) for all industries setup in the private sector outside EPZs and BSCIC Industrial Estates.

� BOI facilitates and assists all its registered industries to take advantage of any

Government incentives and facilities.

� BOI promotes rapid investment in the country.

� BOI advocates to the government on policy matters to make the investment climate in the country more congenial.

Foreign investment registration and all other relevant regulatory jobs including work permit etc. are the responsibilities of Registration and Incentive (R&I)-1 division of BOI; local investment and all relevant regulatory functions are the responsibilities of Registration and Incentive (R&I)-2 of BOI. For obtaining Industrial plots or acquisition of land and other utility services investors (or their representatives) are required to contact the Investment Facilities and Services division of BOI. The One-Stop Service (present name, Utility Service Cell) is a part of Investment Facilities and Services division. In this Cell the representatives of different utility services provide advisory service regarding their organization. At times, they also help to get the connection. BOI Welcome desk at ZIA and the courtesy service is under Communication Division. As per the new organogram BOI consists of three working divisions headed by a Member of the Executive Council. The Divisions are: (1) Planning and Development, (2) Assistance and counseling, and (3) Systems and Services. In the new organogram, all the services including Welcome desk at ZIA, Counseling, Registration, work permit etc. are the responsibility of the Assistance and Counseling division. Here also the matters on local industries will lie with one director and matters on all foreign investments (including joint venture) will be with another director. There is a third wing headed by a Deputy Director regarding counseling and the Welcome desk at ZIA. The director responsible for foreign investment will also look after work permits, remittances and foreign borrowing of local industries. The Utility services (including land) is the responsibility of one Director under the System and Service Division (all the representatives different utility services and Bangladesh Bank reports to him). Inspection: Following an application to avail any Government facilities including recommendation for IRC, or Bonded ware house license by any BOI-registered entity a BOI official (one or more) inspects the manufacturing factory of products/services at the given address. The nominated BOI official submits a report. BOI makes a recommendation to the relevant authority following the report. Survey: BOI surveys the implementation status of registered industries, conducts sectoral survey, and Foreign Direct Investment Inflow survey. All registered industries are requested to assist such surveys.

Guide Table:

Contacts BOI:

Facilities/Services Service Desk First Contact

Pre-Investment Counseling Assistance & Counseling Assistant Director

Welcome Service at ZIA BOI Welcome Desk at ZIA Assistant Director

Immigration & Visa (at HQ) Development and

Communication

Director

Registration Assistance & Counseling Assistant Director

Industrial Plot Land and Industrial Park Assistant Director

Registration/Approval for

Foreign Loan, Suppliers`

Credit, PAYE Scheme etc.

Assistance & Counseling

(Assistance-Foreign)

(Bangladesh Bank Desk)

Deputy Director

Utility Connections (gas,

electricity, telephone, water

& sewerage, environmental

clearance)

Utility Service Cell of System

and Service Division

Director

Import of Machinery & Raw

Materials

a. 100% Foreign & Joint

Venture

b. Local

Assistance & Counseling a.


b. (Assistance-Local)

a. Director (Foreign)

b. Director (Local)

Work Permit Assistance & Counseling


Director (Foreign)

Remittance of Technology

transfer fees (like Royalty,

Technical Know-How,

Technical Assistance Fees

etc.)

Assistance & Counseling


Director (Foreign)

Policy Counseling Policy & Development Director (Policy & Planning)

Strategic Guidance Executive Chairman Private Secretary of

Executive Chairman

In the first visit, investors are advised to have clarifications of the following issues:

How could BOI assist him in the project implementation?

What procedures have to be completed?

What are the pre-conditions or pre-requisites in each procedure?

How much time would take to complete each process?

Such specific queries would remove any ambiguity therein and help in efficient functioning

of the process.

Time Frame The Following requires to place before the Executive Council

Meeting of BOI

The Following requires only physical inspection

Others

1. Local investment registration

1. First Ad-hoc IRC

1. Importation of Machineries (issuance of certificates only)

2. Foreign investment registration

2. Regular IRC (or The Second Ad-hoc IRC)

2. Work permit (permission is given in file by the Executive Chairman of BOI)

3. Bonded Warehouse License

- 3. Foreign Borrowings (placed before a scrutiny committee headed by Bangladesh Bank Governor)

4. Remittance of Technology Transfer fees

- -

5. Allotment of Plot or Acquisition of land

- -

* Among the above, which are placed before a meeting, the letter of recommendation/

permission is issued within 3(three) days of the issuance of minutes of the meeting.

* Among the above, which require physical inspection only, the recommendation letter is

issued within 3(three) days of such inspection, but within 15(fifteen) days of complete

application received.

* Bonded warehouse license recommendation is made for those industries that have been

issued IRC.

Steps those may be require by an Entrepreneur of an Industry at BOI

1. Application for local investment registration and the registration process:

the registration letter alongwith conditions laid down for the registered industry for such

registration or Application for foreign investment registration and the registration

process:

The registration letter and condition laid down for the registered industry

2. Importation of Machinery for the Industry

3. The First Ad-hoc IRC

4. Regular Ad-hoc IRC

or Second Ad-hoc IRC

5. Bonded Warehouse License

6. Remittance of Technical Transfer fees

7. Issuance of Work permit

8. Foreign Borrowings

9. Allotment of Plot in the public Industrial Zones

10. Acquisition of land by the relevant Deputy Commissioner of the district

The first 4(four) steps

Registration as a company

with Registrar of Joint Stock

Companies & F(RJSC&F)

Registration as an industrial

undertaking with Board of

Investment (BOI)

Ad-Hoc IRC from Chief

Controller of Imports &

Exports (CCI&E) Office irms

Regular IRC from Chief

Controller of Imports &

Exports (CCI&E) Office

BOI facilitate assist the existing proposed industries in the following ways:

Phase 1

Registration:

BOI Registers Industrial concerns (100% Local, Joint Venture & 100% Foreign) set-up

anywhere in the country other than EPZs and BSCIC Industries Estates.

Registration with the sponsoring agency is a must for any industry set-up in private sector

in Bangladesh as per BOI Act (No 10 of Investment Board Act 1989)

As per Industrial Policy 1989, no prior permission will be necessary to start a new industry

out side those in the list “Reserved Industries” and to undertake its subsequent

Balancing, Modernization, Rehabilitation and Expansion (BMRE).

As per Industrial Policy 1999, all foreign investment projects to be registered in the

prescribed manner with the concerned promotional body before setting up an Industry.

Local Investment projects are registered in the same manner but both as an existing or a

proposed Industry.

All BOI registered Industries has a registration number like F-0000000-0000-H. In this

number, F stands for 100% foreign Investment, it may be J for joint venture and L for

100% Local Investment. The first four digit represents the main product as per HS code

number; the next three digits represent the serial number of registration in that month

and the rest four number stands for the year and month of registration. The last

alphabet stands for the registering office (Say, H for Head Quarter of BOI, C for Division

office of BOI at Chittagong, K for same of Khulna, R for the same as Rajshahi, B for the

same at Barisal and S for the same at Sylhet).

The system of providing "Registration Number" for all BOI registered industries had been

introduced in early 1994. Since 2000 on H.S. Code No. (First 4 digits) has been added to

it. All industries are now required to have a registration number of BOI. The Joint

Venture and 100% Foreign Investment industry can only register as proposed industry

as per industrial policy. So the foreign invested industry which were registered by BOI or

erstwhile Department of Industries applied for this number as existing industry.

There is a prescribed registration fee for each industrial undertaking and each application is

made, which is based on slabs of proposed/existing investment outlay. The registration

fee is as follows:

Fee Schedule

Slabs of Capital out lay (Taka in million)

Registration Fees (Taka)

In US $

Upto 100 (including 100) 5000 86.20

From 100+

to 250 10000 172.40

From 250+

to 500 25000 431.00

From 500+

to 1000 50000 862.00

Above 1000 (Excluding 1000) 100000 1724.00

There is a prescribed form and other manners to apply for the registration of an

industry. In the Head quarter all registration applications placed before a meeting of

Executive Council of BOI. After this meeting, all industries having necessary

information in their application form for registration with BOI, are registered

duly and immediately.

The Executive Council meeting rejects any application, which is not an Industry as per

Industrial Policy; or if there is any restriction for registration of its products or services.

In reality such application are not received for registration.

PHASE 2

There is a Courtesy Service and Booth to assist incoming foreign investors, at the Zia

International Airport (ZIA), Dhaka.

Officials from BOI are on duty round the clock to facilitate landing permit (LP) or visa on

arrival (VOA) to prospective foreign investors or foreign entrepreneurs, if needed.

BOI Counseling: On arrival in Bangladesh prospective foreign investors could avail in-

depth BOI counseling. But for all these services BOI should be informed earlier by any

means of communication (by letter, fax, e-mail etc.)

Phase 3

Regulatory Requirements for the Industries BOI recommends to the relevant authority for issuance of the following for its registered

industries:

Regulatory Requirements Action

1. Import Registration Certificate (IRC)

a. Ad-hoc basis b. Regular basis

Recommendations to Chief Controller of Imports and Exports (CCI&E)

2. Importation of machineries.

Recommendations to Commissioner, Customs

3. Bonded warehouse facilities, if needed

Recommendations to Commissioner, Bonds

4. Remittance of technology transfer fees

Permission is given by BOI

5. Work permit for foreign nationals in the private sectors


6. Foreign borrowings by private sector industries.


7. Allotment of industrial plot in the public industrial zones anywhere in the country, other than those of EPZs and BSCIC I/E.

Recommendations to Respective Organization

8. Acquisition of land

Recommendations to Respective Deputy Commissioner (DC) of a District

Phase 4

Any BOI registered industry can apply to BOI for any help they may require during its

operation. If convinced BOI recommends to the appropriate Ministry/Authority for early

action on the matter. [This includes problem with Duty Exemption and Drawback Office

(DEDO), problems with Ministry of Commerce, problems with NBR and so forth]. In such

cases, the industries required to apply BOI alongwith copy of registration letter to the Policy

& Planning Wing of BOI. Industries under "Fishing Trawler" are also required to apply to the

Policy & Planning Wing of BOI for recommendation or replacement of its damaged trawler or

procurement of any new fishing trawler in these cases such prayer is placed before EC

meeting of BOI prior to recommendation.

Chapter 2

Investment Incentives

Approval Authorities Major Fiscal Incentives

Major Non-Fiscal

Incentives

Board of Investment National Board of Revenue Bangladesh Export Processing Zones Authority Bangladesh Small & Cottage Industries Corporation

Tax Holiday Accelerated Depreciation Allowance instead of tax holiday Concessionary income tax in lieu of Tax Holiday and Accelerated Depreciation Allowance Concessionary duty on imported machinery Avoidance of Double Taxation Remittance of royalty, technical Know-how, technical assistance fees.

100% Foreign Equity allowed Unrestricted Exit Policy Full Repatriation facilities of dividend and capital at the event of exit Permanent Residence Permit on investing US$ 75,000 and Citizenship Offer for investing US$ 5,00,000

Incentive How to Avail

a. Ta

x Holiday & Concessio

ns

1. For Existing Industry: Tax holiday facilities (THF) are available in the existing industry for 5 or 7 years depending on the location of the industrial enterprise. a. Dhaka and Chittagong Divisions (excluding 3 Hill Tract districts of Chittagong Division)---- 5 years. b. Khulna, Sylhet, Barisal & Rajshahi Divisions and 3 Chittagong Hill Tract districts ---- 7 years. 2. Important to note: THF for Extension Unit is not allowed. THF will be available for the industrial undertaking formed as a Separate Company. THF availing companies are required to reinvest at least 40% of their exempted income.

1) Register your project with BOI. 2) Apply to BOI for Tax holiday approval and certification. 3) On recommendation of BOI NBR issues Tax holiday certificate within 90 days of submission of application.

b. D

epreciatio

n Allowance

1) Accelerated Depreciation Allowance: Only new industrial undertakings will enjoy accelerated depreciation allowance in lieu of tax holiday as per following schedule: @ 100% on the cost of machinery. For the first year only. In all locations of Bangladesh. 2) Initial Depreciation Allowance has been reintroduced from the FY 2002-03 as per following schedule: On the Machinery: 25% of its costs. On the Factory: 10% of its costs. 3) Restructuring of Depreciation Allowance to ensure better profitability of the industry as following: General Building : 12% Factory Building : 24% Furniture : 10% Machinery : 18% Vehicle : 20% (not plying for hire)

1) By setting up and operating business in Bangladesh.

Summary of Incentives Provided to the Industrial Investors:

Chapter 3 Steps/Processes to be followed by Entrepreneurs

(a) Registration of Local Investment Projects

Required Supporting Documents:

1. A valid Trade License (in case of existing industries) 2. Two copies of application in prescribed form duly filled in, 3. Two attested copies of deeds of the proposed land (if the land is owned by the

entrepreneur, then attach copies of original deed, or copy of loan agreement for rented building)

4. Two copies of project profile if the cost of project exceeds Taka 5 Crore. 5. A pay order/bank draft for registration fees, (from any scheduled bank) in favour of

“Executive Chairman and Member-Secretary, Board of Investment” 6. (a)-For Partnership Firms:

Two attested copies of Partnership Deeds (b)-For Public/Private Limited Company: Memorandum and Articles of Association and Certificate of Incorporation

7. Membership Certificate from local chamber of commerce or trade association (Only for an existing enterprise) Process Steps: Step 1: Collect A Local Registration Form (free of cost) of Investment Project from R&I-2 division or relevant divisional office of BOI; Step 2: Deposit registration fee, as per Fee Schedule Table, from any scheduled bank in favour of “Executive Chairman and Member-Secretary, Board of Investment” and collect a pay order/bank draft Step 3: Submit application form with supporting documents as per Registration Application (List of machineries and other lists should be form provided in letter head pads of the unit. Step 4: Provide information demanded by the Executive Council Remarks: After submission of a completed application, BOI will issue a Registration Letter

alongwith a photocopy of all of letter submitted, and duly signed by a Director of BOI. Entrepreneurs are issued a registration letter having a registration number.

(b) Registration of Foreign Investment/Joint Venture Project


1. Two copies of application in prescribed form duly filled in [2 (two) copies].

2. Certificate of Incorporation alongwith Memorandum & Articles of Association in case of Public/Private Limited Company. In case of Joint Venture Project(JVP), JVP Agreement duly signed in by both the parties [2 (two) copies] will also require.

3. Two attested copies of deeds of the proposed land (if the land is owned by the entrepreneur, then attach copies of original deed, or copy of loan agreement for rented building)

4. If the total project cost exceeds Tk. 50(fifty) million, submit Project Profile [2 (two) copies].

5. Background of the Promoters in official letterhead pad describing a) Name, b) Permanent address, c) Mailing Address, d) Position and e) Nationality. [7 (seven) copies].

6. List of machinery indicating quantity and price. [7 (seven copies)].

7. In case the project is financed by loan, copy of relevant documents in support of loan [2 (two) copies].

8. A pay order/bank draft applicable of registration fee in favour of “Executive Chairman and Member-Secretary, Board of Investment”

Process Steps: Step 1: Collect a foreign investment registration Form (free of cost) from R&I-1 division of BOI, HQ or divisional office of BOI at Chittagong. Step 2: Deposit registration fee, as per Fee Schedule Table, from any scheduled bank in favour of “Executive Chairman and Member-Secretary, Board of Investment” and attach the relevant pay order/bank draft Step 3: Submit application form with all required supporting documents Step 4: Obtain registration

(c) Importation of Machineries

(i) For Import Permit: Applicable for foreign investments only who sends

machinery against their equity of investment. In these cases, import permit fee and

LCA fees are exempted. Recommendation for Import permit certificate is issued by

R&I-1 wing of BOI to CCI&E on receiving the application from the Industry concerned

having Bill of Lading/House Airway bill, Invoice and other necessary documents in

this concern.

(ii) For Other certificates: BOI also issue certificates to the relevant Commissioner

of Customs of a Custom House for its registered 100% Export Oriented Industry (and

others) as required to release the imported machinery/spare parts from the Port of

Entry. Here also copies of L/C, Bill of Lading, Invoice etc. are required to be

furnished.

(d) First Ad-hoc IRC


1. Trade License

2. Prescribed application form of CCI&E duly filled in.

3. Passport size photographs (3 copies).

4. Contract for machinery.

5. Pro forma of invoice.

6. Manufacturing list (list of products, alongwith quantity);

7. Nationality Certificate of entrepreneur.

8. Deed of land ownership document, if rental, contract should be for next 5 years.

9. Tax Identification Number (TIN).

10. Membership Certificate from Chamber of Commerce and Industries or from Business

Association.

11. Bank Solvency Certificate.

12. Main copy of Treasury Chalan

13. Environment Clearance Certificate (if received).

14. Certificate from Drug Administration (if required).

Process Steps: A BOI registered industry can apply for IRC alongwith the above

documents in their letter head pad after paying the relevant fee in Treasury Chalan.

(f) Import Registration Certificate (Industrial, Regular):

IRC (regular) is issued after proper utilization of Imported raw materials as per

IRC (1st

Ad-hoc)


1. Trade License

2. Prescribed application form of CCI&E duly filled in.

3. Passport size photographs (3 copies).

4. Contract for machinery.

5. Pro forma of invoice.

6. Manufacturing list (list of products alongwith quantity)

7. Nationality Certificate of entrepreneur.

8. Deed of land ownership document, if rental, contract should be for next 5 years.

9. Tax Identification Number (TIN).

10. Membership Certificate from Chamber of Commerce and Industries or from Business

Association.

11. Bank Solvency Certificate.

12. Main copy of Treasury Chalan

13. Environment Clearance Certificate (if received).

14. Certificate from Drug Administration

Process Steps:

Step 1: Collect prescribed application form from BOI/CCI&E

Step 2: Submit application with all supporting documents

* Steps are same as regards IRC whether it is Ad-Hoc or Regular.

Physical Inspection

Inspection Report, along with proof of Ad-hoc IRC utilization

Six-monthly entitlement fixed up

Recommendation to CCI&E to issue regular IRC

CCI&E issues regular IRC

The relevant Bank reserves the IRC for future imports of raw materials

Fee Schedule: As per the following schedule of fees and following head no. in Treasury Chalan the IRC fees, as per following schudle, to be deposited at Bangladesh Bank ( or designated branches of Sonali Bank -Sonali bank branches should be used only where Bangladesh Bank is not available):

1 - 1 7 3 1 - 0 0 0 1 - 1 8 0 1 Fee Schedule

Category of Certificate Value Ceiling of Annual Import

Initial Registration Fee

Renewal fee*

Import Registration Certificate Tk. 1,00,000 Tk. 5,00,000

Tk. 15,00,000

1,000 2,000 3,000

1,000 2,000 3,000

Tk. 50,00,000 6,000 5,000

Tk. 1,00,00,000 10,000 8,000

Above Tk. 1,00,00,000

15,000 10,000

* The renewal fee for a IRC should be deposited only at the business-nominated bank branch.

(f) The Bonded Warehouse License


1. Copy of Registration letter of BOI;

2. Copies of letters to the Board of Investment informing the progress of implementation;

3. Factory’s Lay-out-plan for the new license;

4. Copy of Industrial Import Registration Certificate (IRC);

5. Copy of Export Registration Certificate (ERC);

6. In case of renewal copy of Bond License, copies of half yearly report to BOI on utilization of Bond License;

7. Purchase documents of machinery;

8. Past 3 years Imports and Exports detail (for the renewal).

Process Steps:

Step 1: Apply with BOI prescribed application form;

Step 2: Submit application with all supporting documents along with Treasury Chalan;

Step 3: Physical Inspection by a BOI official

Step 4: The respective Wing of BOI place before the Inspection report in the next Executive Council meeting.

Step 5: Recommendation to issue Bonded Warehouse License to relevant Bond Commissionerate immediately after the Executive Council meeting.

(g) Registration of Technology Transfer Fee Agreement


1. BOI Registration Letter

2. Technology transfer agreement

3. Bill of Entry

4. Tax return and audited balance sheet

Process Steps:

Step 1: Apply to the BOI with prescribed application form from BOI Office.

Step 2: Submit application with all supporting documents.

Step 3: The case is placed for Executive Council meeting for approval.

Step 4: Collect the BOI Letter, if approved or the BOI letter with comment.

(h) Remittance of Technology Transfer Fees including Royalty/Technical Know-how fee


1. A copy of Registration letter issued by the Board of Investment (BOI).

2. A copy of Technology Transfer/Royalty Agreement; if not registered earlier.

3. Filled in “B” or “D” Form supplied by BOI duly signed by the Managing Director of the company.

4. Resolution of the Board of Directors of the company regarding remittance of technology fees/royalty showing the amount, due year of remittance and the name & address of the technology/royalty provider as per agreement.

5. A copy of Annual Report Comprising Audited Balance Sheet along with the Profit and Loss Accounts from auditing firm (if any).

6. Income Tax Return certified/authenticated/attested by Chartered Accountants for the concerned tax year along with a certificate and a computation sheet for taxable income for the same period and Chalan/documents showing payment of tax, acknowledgement receipts of income tax return submitted to D.C.T.

7. A copy of Memorandum & Articles of Association & Certificate of Incorporation.

8. Invoice in support of fees to be remitted.

9. Authenticated banking documents showing export earning (if any).

10. Information regarding the remittance of technology fees for the last three years as per the following table

11. A brief background of the technology provider.

12. A brief statement of benefits to be received under technology/royalty agreement by the receiving company.

13. Schedule of payment for the proposed remittance (such as equal rnonthly/quartely/half-yearly/annual installments)

(All documents other than original must be duly certified by authorized Signatory)

Process Steps:

Step 1: Apply in BOI (R&I-1 wing) in prescribed application form.


Step 3: The application is placed before next EC meeting of BOI.

Step 4: If approved in the EC meeting, relevant permission letter is issued.

(i) Work Permit for Foreign Nationals in the Private Sector

Introduction: Work permit for foreign nationals is a pre-requisite for employment in Bangladesh. Private sector industrial enterprises desiring to employ foreign nationals are required to apply in advance in the prescribed form of BOI. For expatriate employment the guidelines are as follows:

Eligibility:

a. National of the countries recognized by Bangladesh will be considered for employment.

b. Employment of expatriate personnel will be considered only for industrial establishments registered with BOI.

c. Employment of foreign nationals is normally considered for the job for which local experts /technicians are not available and persons below 18 years of age are not eligible for employment.

d. Initially employment of any foreign national is considered for a team of 2 years, which may be extended on the basis of merit of the case.

e. Necessary security clearance has to be obtained from the ministry of Home Affairs.


1. Four copies of application in prescribed form along with four passport size photographs.

2. Copy registration letter of BOI.

3. Decision of the Board of Directors regarding employment of the foreign national (in case of limited company) including salary and other facilities duly signed by Directors present in the meeting.

4. Memorandum and Articles of Association duly singed by shareholders along with Certification of Incorporation (in case of limited companies) if not submitted earlier. In case of joint venture project (JVP), JVP agreement duly signed in by both the parties.

5. Photocopy of Passport (Full set) with ‘E’ Visa.

6. Copy of service contract or agreement or appointment letter.

7. Copies of buyer’s nomination letter in case of employment of buyer’s representative.

8. Academic qualification and experience certificate for employment.

9. Newspaper cutting advertising position.

Process Steps:

Step 1:Collect application for employment form (free of cost) of foreign nationals in the private sector industries from BOI office (18th floor) R&I-1 Wing.

Step 2: Submit application form with relevant supporting documents.

Step 3: Deposit Work permit fees at any scheduled bank in favour of “Executive Chairman and Member-Secretary, Board of Investment” and collect a pay order/bank draft. A pay order/bank draft of 5,000 (five thousand taka) for each foreign national employee. The Pay Order is required to submit after approval of the prayer.

Step 4: Obtain work permit from R&I-1 Wing of BOI.

[Remarks: Application form could also be downloaded from BOI website: (www.boibd.org).]

(j) Approval of Foreign Borrowing Agreement


1. Copy of BOI Registration (full set)

2. Loan Agreement

3. Board's Resolution

4. Application form (Annexure-A) duly filled in

5. Repayment Period along with Repayment schedule in details

6. Grace period if any

7. Calculation of effective rate of interest as defined

8. Feasibility report of the project

9. Financial Analysis:

a) Internal Rate of Return (I.R.R.)

b) Break Even Analysis

c) Payback Period

d) Sensitivity Analysis

e) Debt Service Analysis

f) Track Record of past FDI including foreign borrowing

g) Credential of the Sponsors

10. Memorandum and articles of Association (certified copy)

11. Certificate of Incorporation with Joint Stock Company

12. Up to date CIB report from Bangladesh Bank to be collected directly to BOI by the nominated bank

13. Proforma Invoice/Price Quotation through international tender for importing of capital machinery

14. Bank certificate as to indebtedness and creditworthiness of the borrowing company and its sponsors

15. Certificate from BRTC, BUET in respect of Quality, Price and Economic life capital machinery to be imported (in case of supplier’s credit only)

Process Steps:

Step 1: Duly fill in the prescribed application form (Annexure “A”).


Step 3: If approved in the Scrutiny Committee meeting headed by the Governor of Bangladesh Bank, the R&I-1 Wing of BOI will issue the letter of borrowing.

(k) Allotment Of Plot and/or Acquisition of Land in Public Owned Industrial Areas

Introduction:

BOI recommends industrial plot allotment in all Divisional Headquarters: e.g. RAJUK in Dhaka, CDA in Chittagong, KDA in Khulna etc. and also in all Goverment owned industrial estates other than those of EPZs and BSCIC I/E. BOI also makes recommendations for acquisition of land to the concerned Deputy Commissioner of a district if deemed necessary.


1. Two sets of completed application form.

2. Two copies of registration certificate if already registered with BOI.

3. Details of the location of the proposed land (Mouja, Tauji, Khatian, Dag number and size of land required).

4. Implementation schedule of the industry (if new).

5. Justification for size and locations of the proposed land identified.

6. Industrial layout plan.

Process Steps:

Step 1: Collect application form (free of cost) from Services and Facilities Wing of BOI

Step 2: Submit completed application form. (No fee is required for the application

process.)

Step 3: A recommendation letter is issued to the Deputy Commissioner who has legal authority as per law.

Chapter 4 Application Forms and Prescribed letters of BOI and some examples of

recommendation letters

BOARD OF INVESTMENT

APPALICATION FOR REGISTERATION OF FOREIGN INVESTMENT/JOINT VENTURE PROJECT

Please Tick (√) : Proposed Existing

1. Name of industrial Project :

2. Address:

(a) Office:

House/Holding # Road # Phone #

Fax #

City/District: P.O. E-Mail #

(b) Factory:

Mouza/Village: Phone #

Plot/Holding # P. O. Fax #

P.S./Upozila: District: E-Mail #

3. Background of the Promoters(Local and Foreign): (please enclosed in separate sheet

of letter head pad in 7 copies describing Names, Permanent & Mailing address,

Position in the company and Nationality):

(a) Name of the main promoter:

(b) Permanent address:

(c) Mailing address:

(d) Experience (business/industrial):

For Office use Registration # Date:

4. Type of Industry: Household products/Gift Items

5. Target Date of Commercial operation:

6. Investment:

Items Local (Million Taka/Million

US$

Foreign(Million

Taka/Million US$

Total(Million

Taka/Million

US$

(a) Fixed Investment:

(i) Land

(ii) Building

(iii) Machinery & Equipment

(iv) Others

(b) Working Capital (3 months):

Total (a+b) million Tk.)

Million US$

7. Source of Finance (Million Taka): (Please enclose copy of support of loan)

Source Local Foreign Total Investing

Country(ies)

(i) Equity

(ii) Loan

Total: million Tk

million US$

8. Equity Share

Ratio (in

percentage)

Local ............. % Foreign .............. %

9. List of Machinery/equipment: Please enclose 7 copies list including no. & price

Machinery & equipment Quantity Estimated Value

List enclosed: (Please Tick √) Nos. Million Taka Million

US$

(a) Procured/To be procured locally:

(b) Imported/To be Imported:

Total Value (a+b) : Million Tk.

Million US$

10. Annual Production Capacity:

Name of Product(s)/Services Quantity Estimated Value

(Name Max 5 products) Nos. Million Taka

Million US$

Decorated Wax Products Plastic Based Games

11. Description of Raw & Packing Materials:

(a) Local:

(b) Imported: -

12. Requirement Public Utility Services: Gas, Electricity, Telephone, Water, Sewerage etc.

Utility Service

Required Quantity Minimum-Maximum

Target date of Commissioning Month - Year

Distance of project site from nearest source

(Metro) Electricity

Gas

Telephone

13. Employment Local Foreign Total

(i) Managerial

(ii) Employee/Worker

Total 14. Marketing: Not

applicable for services

Local .......... % Foreign............ % (Value/Volume)

15. Tax Identification No. (T.I.N), if any:

16. Enclosed Pay Order/Bank Draft No.: Name of Bank & Branch:

I do hereby declare that the information furnished above are true and correct to the best of my knowledge.

Signature -

Name -

Designation - (Managing

Director/Partner/Proprietor)

Other Documents to be submitted: (i) Application in prescribed form duly filled in (2 copies); (ii) Certificate of incorporation along with Memorandum & Articles of Association in case of

public/private Limited Company, Joint venture agreement duly signed by the parties in case of Joint venture project (2 copies);

(iii) Attested copies of Deeds/Documents in support of project land (2 copies purchase deed

in case of own land, Deed of Agreement in case of lease/rental premises); (iv) If the total project cost exceeds Tk. 50 million project profile ( 2 copies); (v) Pay order/Bank draft in favour of "EXECUTIVE CHAIRMAN AND MEMBER SECRETARY,

BOARD OF INVESTMENT"

APPLIATION FOR EMPLOYMENT OF FOREIGN NATIONALS IN THE PRIVATE SECTOR INDUSTRIE

A.

Particulars of Sponsor/Employer

1. Name and address of the enterprise :

2. Type of industry (please specify products)

:

3. Whether local, foreign or joint venture company (if joint venture, percentage of local and foreign investment is to be shown

:

4. Recommendation of Company's Board :

B. Particulars of the Foreign Incumbent

1. Name (in block letters) :

2. Nationality :

3. Date of birth :

4. Marital status :

5. Particulars of passport of the incumbents (Attested copy should be enclosed)

:

a. Passport No. :

b Valid upto :

c Permanent address of the incumbent :

6. Qualification and experience:-

a. Academic qualification :

b. Professional qualification :

c. Experience (please attach copies of relevant certificates)

:

C. Particulars of Job

1. Designation/post for which the incumbent will work

:

2. Brief job description :

3. Date of employment/extension :

4. Period of employment/extension :

D. Monthly Remuneration (inclusive or exclusive of income tax)

1. Basic pay :

BOARD OF INVESTMENT PRIME MINISTERS'S OFFICE JIBAN BIMA

TOWER,10,DILKUSHA C.A

DHAKA-1000, BANGLADESH

Photograp

h of the

Incumbent

2. Dearness allowance :

3. Overseas allowance :

4. House rent :

5. Conveyance allowance :

6. Entertainment allowance :

7. Bonus :

8. Other fringe benefits, if any

:

9. Monthly estimated expenditure to be incurred on accommodation,car, driver, mail, servants, insurance, club-subscription (if any) and other house-hold amenities

:

10. If remittance claimed (please attach copy of the agreement) entered into with the incumbent

E. Other Particulars

1. Whether advertisement was made to employ local people (if so, relevant press cutting is to be attached)

:

2. Justification for employment of foreign national

:

3. Has the project been approved by any sanctioning authority? If so, please attach copy of the sanction letter

:

4. Arrangement for training of local employees to replace the foreign national

:

5. No. of existing local and foreign employees

:

Salary brackets

Upto Tk. 1000/- p.m. From Tk. 1001/- p.m. to Tk.2500/- p.m. Above tk.2500/- p.m.

Date: (.......................................)

Signature with name and designation of the applicant

Note : 1. Application is to be submitted in 4 copies with 4 passport size photographs.

2. Instead of writing "sec attached sheet"/"bio-data" etc. specific replies in short should be given in each column.

3. Additional sheets may be attached, if required.

4. Copy of approval of the Board of Directors regarding employment of foreign national is to be attached.

5. Employment of foreign national is subject to prior Govt. approval. 6. Appointment letter/employment contract. 7. Certificate of Incorporation along with Memorandum and Articles of Association in

case of Limited Company.

ANNEXURE- ‘B’ Circular no. BOI/R&I/625/92/813

Dated 02/08/1993

I. REGISTRATION OF TECHNOLOGY TRANSFER FEE AGREEMENT

1. a) Name, address and telephone :

number of the firm

b) Registration Permission letter No. :

Date :

Issuing authority :

2. Name & address of the foreign : collaboration(s) on technology

3. Technology transfer agreement :

a) Effective date : Date

b) Copy attached : Tick

c) Previously submitted to BOI : Date

4. Name & address of the firm’s nominated Bank. :

If a new firm :

a) Cost + Freight (C&F) value of imported : Taka in million

machinery (Supported by Bill or Entry).

OR b) If an established firm :

Previous years sales as declared In the : Taka in million

tax return (supported by copies or tax

return and audited balance sheet).

6. Proposed annual technology transfer : (Taka in million) Expressed as % of item 5. remittances

a) Royalties :

b) Technical know-how fees :

c) Technical assistance fees :

d) Other technical fees : (Please specify) Total :

Signature

Name and designation of applicant.