FIRST DIGITAL OFFICE IN BANGLADESHFIRST DIGITAL OFFICE IN BANGLADESH

REGISTRAR OF

JOINT STOCK COMPANIES & FIRMS

MINISTRY OF COMMERCE

BUSINESS REGISTRATION IN BANGLADESH

Types of business registration1. Trade License --- by Local Govt. Institutions

2. Company Registration --- by Registrar of Joint Stock Companies & Firms (RJSC)

3. Partnership Firm

BUSINESS REGISTRATION IN BANGLADESH

What is a company :-

Artificial entity Possessing both Individuality and Immortality

Corporate entity based on legal business agreement

Liability limited to share holding

Juristic entity to do business

BACKGROUND OF RJSC:

This office was set first under the Companies Act of 1913 in colonial period followed by British Joint Stock Companies Act 1844. In Bangladesh the Office of the Registrar of Joint Stock Companies and Firms (RJSC) was first set in Chittagong in 1947 on transfer from Kolkata.

In 1962, this office shifted to Dhaka. It has three regional offices in Chittagong, Khulna & Rajshahi. Currently there are around 135,000 entities registered under RJSC.

RJSC’s main business services : # Name clearance # Registration # Returns filling # Issuance of certified copies # Winding up; and # Struck off , and

Keeps Records of Company ownership

Registers the mortgages and charges created for loans and debts

RJSC ONLINE SERVICES:

RJSC PROVIDES SERVICES UNDER :

Companies Act 1994 (evolved from the Companies Act 1913)

Societies Registration Act 1860

Partnership Act 1932

Trade Organization Ordinance 1961

Business Registration Process in RJSC:

Online Registration Process :

1. Online reservation of Company Name

2. Online submission of Registration application with following : a. Memorandum & Article of Association

b. For Private Limited Company - Form I, VI, IX, X, XII

c. Scanned copy of signed Form ix & Subscribers Pages of MA &A

d. Scanned copy of Encashment certificate (in case of foreign investor)

e. For Public Limited Company - additionally Form XIV & schedule IV.

f. Permission of Bangladesh Bank for Financial Institution

g. Permission of Controller of Insurance for Insurance Company CONTD.

Business Registration Process in RJSC:

Requisites of registration:1. Memorandum & Article of Association

2. Name, number of share & signature of subscriber,

3. Date of birth, Name of Mother & Father,

4. Present & Permanent Address,

5. TIN # & National ID #,

6. Cell phone, Fixed phone & e-mail,

7. Signature of 2 Witness & their description,

8. If paid up capital is more than 10 crore for private company & exceeds 1 crore for public limited company permission of SEC is required. contd.

Business Registration Process in RJSC:

Foreign company already registered in other country:

1.MA&A should be authenticated by respective Bangladesh Embassy

2.Form 36, 37, 38, 39 and 42

3.Permission BOI and Bangladesh Bank

4.Fees taka 750

contd.

STEP BY STEP TO REGISTRATIONhttp://www.roc.gov.bd

Visit us athttp://www.roc.gov.bd

SERVICE IMPROVEMENT SCENERIO

ISSUE PREVIOUS CURRENTName Clearance 7 days 1 day

Registration 30 days 4 Hour

Return Filing Misfiling, hard to trace Easy to locate

Fee Payment Long queue from dawn Easy to pay at Bank

Stamp Duty Collection was difficult Easy Pay order

Visit to Office 6 times for registration 1 time

Transparency No Transparency Online Monitoring

Accountability Poor Accountability Strong Accountability

Registration of 1947- 71 1972- 82 1983- 08 JAN-DEC 09

Public Ltd Company

1445 1782 2795 53

Private Ltd Company

2322 7813 78,166 8866

Foreign Company 321 384 543 10

Partnership Firm 16917 27901 35,136 912Trade Organization 47 142 714 25Society 556 927 9343 2317

AVERAGE 3656 11,136

SERVICE IMPROVEMENT - 1

Total NC in one day (Jan 09 - Dec 09) : 14860 Total NC in one day (Jan 10 - Apr 10) : 7170 Registration in one day (Feb 10 - Apr 10) : 1296 Registration in 4 hours (Feb 10 - Apr 10) : 608 Registration in 2 hours (Feb 10 - Apr 10) : 372 Return Filing in a day : 305 From 101 countries RJSC website visited

(Jan 09 - Jan 10) : 304848

SERVICE IMPROVEMENT - 2

07 Jan 09 In house LAN Practice

22 Feb 09 Online Name Clearance starts

08 Mar 09 Online Registration starts

02 Apr 09 Collection of fees through bank

16 Apr 09 Same day Name Clearance & Registration

27 May 09 Draft M&A posted in our web site

18 Oct 09 Online Return Filing starts

24 Jan 10 Hassle of Stamp Collection Removed

27 Jan 10 4 Hour Registration Service

27 Jan 10 Payment through online bank

MILESTONES OF CUSTOMER SERVICE DEVELOPMENT

Care the demand of customer and match the system.

Understand your colleagues and motivate them.

Be friendly with the colleagues and win their hearts.

Keeping pace with the environment to be successful.

Always remember target, it will lead to success.

Stakeholders who could make a negative impact to be

handled very carefully.

Reform is possible within existing legal frame.

RJSC AUTOMATION: INNOVATIONS & LESSONS