Tuesday, December 03, 2013

How Foreign Company start business in Bahrain

S & F CONSULTING FIRM LIMITED is an international business consultancy firm incorporated asprivate limited company in Bangladesh.

Lower Cost & higher service quality
Contact information: 


Email: contact@sfconsultingbd.com
Mobile: +880 01790220729 or, +880 01790220728
Corporate Office, Dhaka, Bangladesh
Service area:
  1. Foreign company registration ( 100 % foreign owned share, Joint Venture, Branch/ Liason/ Virtual office)
  2. Legal
  3. Accounts Audit
  4. Income Tax
  5. Company Secretarial
We are all Countries in Asia




Branch Office opening at Bahrain

Branch office companies are businesses that are established outside Bahrain and are permitted to open branches or offices in the country, on the condition of approval from the Minister of Commerce and Agriculture and a local sponsor is appointed. The sponsor must be a Bahraini merchant. However, the branch offices are exempted from the necessity of a Bahraini sponsor if the office uses Bahrain as a regional centre or a representative office for their activities.


Can I own a business in Bahrain?
100% foreign ownership of business is allowed. Sector-specific and/or company type restrictions may apply.
Foreign ownership:
· Nationals of the Gulf Co-operation Council (GCC) are permitted 100% ownership
· Foreign (non-GCC) investors may acquire up to 100% of the company
· Under the terms of the Bahrain-U.S. Bilateral Investment Treaty (BIT), U.S. investors were accorded MFN (or GCC) treatment beginning January 1, 2005
· Annual submission of audited financial statement is required


Do I need a Local Sponsor to open a Foreign Company Branch?
No. A local sponsor is required only for an operational office
Holding Company
The purpose of a holding company is to own shares in Bahraini or foreign joint stock companies and to own shares or stakes in Bahraini or  foreign  limited  liability companies, or to participate in the establishment of such companies and to manage them and provide loans thereto and to guarantee them before third parties. A holding company may take the form of a Closed or Public Shareholding Company, a Limited Liability Company, or a Single Person Company. Characteristics of a holding company will depend on its legal form. A Holding Company must own more than 50% of the shares of the affiliated company.
Is 100% foreign ownership allowed for an individual establishment?
Individual Establishment
Only Bahraini citizens and citizens of the Gulf Cooperation Council (GCC) countries (must be resident in Bahrain) may register an Individual Establishment in the Kingdom of Bahrain. An Individual Establishment is a non-incorporated entity and is owned by one individual only. The owner is liable for all debts and liabilities of the business to the extent of his/her personal assets.

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How Foreign Company start business in Myanmar (Burma)


S & F CONSULTING FIRM LIMITED is an international business consultancy firm incorporated asprivate limited company in Bangladesh.

Lower Cost & higher service quality
Contact information: 


Email: contact@sfconsultingbd.com
Mobile: +880 01790220729 or, +880 01790220728
Corporate Office, Dhaka, Bangladesh

Service area:
  1. Foreign company registration ( 100 % foreign owned share, Joint Venture, Branch/ Liason/ Virtual office)
  2. Legal
  3. Accounts Audit
  4. Income Tax
  5. Company Secretarial
We are all Countries in Asia

Registration under Myanmar Companies Act
Minimum investment to be brought in by a foreign service company under the Act is US$ 50,000. The registration process under the Act requires one to follow the same last two steps- mentioned below – as MFIL companies have to. Under the Act, the ‘Permit to Trade’ is valid only for two years. The renewal needs the same documents as when applying for the first time.  The incorporation process for this sort of business takes only 2-3 months.
Registration under Myanmar Foreign Investment Law
Companies with one hundred per cent foreign investment and in joint venture with Myanmar government and nationals can be registered under the law. For the latter case, minimum foreign share equity must be 35 per cent. Despite minimum capital requirement specified at US$ 500,000, the business entities invests a minimum of US$ 1,000,000 to US$ 2,000,000 in practice, depending on size and nature of investment. In case of a joint venture with the government, the company could opt to enjoy a local company status under Special Company Act (1950).

Step-1: Applying for Myanmar Investment Commission’s Permit
Companies under this law have to apply for permit of Myanmar Investment Commission (MIC) first to be able to enjoy three years’ tax holiday which is period of construction or first three years of business  activities during which companies are exempted from paying customs duty.
Essential documents required for this process are:
(a)               Proposal to the Foreign Investment Commission in the prescribed form – Form I
(b)               Draft contract or contracts, as the case may be (eg. JV Agreement)
(c)               Draft Memorandum of Association and Articles of Association
(d)              Feasibility Study and Profitability Projection Statement for the project period or first ten years,             including a “Cash Flow Statement
(e)               Bank reference regarding financial standing
(f)                Lease of Land or Properties with maps etc.
(g)               For a company, (i) last two years’ Annual Reports and (ii) Performance guarantee
Step-2: Applying for ‘Permit to Trade’
Apart from a joint venture with the government, as it is regarded as a local company, every business entity needs a ‘Permit to Trade’ issued by the Directorate of Investment and Company Registration (DICA).
The following documents are required to apply for ‘Permit to Trade’:
1.    Intended business or economic activities
2.    Statement of Estimated Expenditure for first year of operations
3.    Bank reference regarding financial standing of the Subscribers to the Memorandum & Articles of Association
4.    Power of Attorney in favour of individually signing the applications, if he/she is not a    subscriber to the proposed Company’s Memorandum and Articles of Association or one of its        proposed first Directors
5.    If any of the parties is a company, Board of Directors’ Resolution to incorporate a Company in Myanmar
6.    If the Company is to be incorporated as a subsidiary of a company abroad, accounts of the        parent company for last two years duly signed, authenticated and legalised. (If accounts are     published and properly bound, it is not required to be authenticated and legalised.)
On receipt of approval of the application, ‘Conditions’ attached thereto must be agreed, signed and returned to DICA.

Remittance of capital
The minimum capital set out in the ‘Conditions’ have to be brought into Myanmar in two installments: the initial half before issuance of the permit and the second half within twelve months after. The initial capital is required to be remitted either to Myanmar Investment & Commercial Bank or to Myanmar Foreign Trade Bank.
After the receipt of credit is presented, the ‘Permit to Trade’ is issued.
Step-3: Incorporation of company
With a photocopy of the ‘Permit to Trade’ attached, the application for incorporation of the company has to be filed.
The following data are required for this purpose:
1.    List of persons authorized to accept service of notices and processes;
2.    Particulars of the Directors and their details such as address, occupation, nationality
3.    Passport copies and photos of Directors
4.    List of shareholders and share ratios
5.    Particulars of shareholders and their details such as address, occupation, nationality
Estimated time frame for this incorporation process is 4-6 months.

Email: contact@sfconsultingbd.com


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Sunday, December 01, 2013

Doing business in Bangladesh

Doing business in Bangladesh, Doing Business in Bangladesh 2014, Doing Foreign Business in Bangladesh, Foreign Business registration in Bangladesh

S & F CONSULTING FIRM LIMITED is an international business consultancy firm incorporated as private limited company in Bangladesh.

Lower Cost & higher service quality
Contact information: 

Email: contact@sfconsultingbd.com
Mobile: +880 01790220729 or, +880 01790220728
Corporate Office, Dhaka, Bangladesh
Service area:

  1. Foreign company registration ( 100 % foreign owned share, Joint Venture, Branch/ Liason/ Virtual office)
  2. Legal
  3. Accounts Audit
  4. Income Tax
  5. Company Secretarial

We are all Countries of Asia



Email: info@sfconsultingbd.com 
or, 
contact@sfconsultingbd.com
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