Entering a new market requires more than just capital; it demands the right local alliance. For international investors, Joint Venture company registration in Bangladesh serves as a strategic gateway. It combines global expertise with local market insights.

By forming a strong partnership, you effectively share operational risks while unlocking long-term growth potential. This collaborative approach allows your business to navigate complex regulatory landscapes with greater ease and confidence.

Understanding how to register limited company in Bangladesh is the first step toward building a sustainable presence. A clear legal framework ensures that your operations remain compliant from day one.

Proper joint venture company registration Bangladesh provides the foundation for your future success. By following the correct legal path, you set the stage for a thriving, secure, and profitable enterprise in this dynamic region.

Key Takeaways

• Strategic partnerships help mitigate risks for foreign investors.
• Legal compliance is essential for long-term operational stability.
• Local expertise accelerates market entry and growth.
• Proper documentation prevents future regulatory hurdles.
• A solid foundation supports sustainable business development.

Strategic Advantages of Joint Venture Company Registration Bangladesh

Entering the local market through a collaborative model offers a unique pathway to sustainable business growth. When you pursue foreign company registration in Bangladesh, choosing a joint venture allows you to combine your international experience with the deep insights of local partners. This synergy creates a robust foundation for long-term success in a competitive economy.

Merging Global Expertise with Local Market Knowledge

Your global expertise provides the technical standards and innovative processes needed to excel. However, local partners offer essential knowledge regarding consumer behavior and regulatory landscapes. By merging these two strengths, you ensure that your business model remains both world-class and locally relevant.

Risk Mitigation and Accelerated Growth Strategies

Operating in a new country often involves unforeseen challenges that can slow down your progress. A joint venture helps you mitigate these risks by sharing the burden of capital investment and operational management. This collaborative approach acts as a catalyst, allowing you to scale your operations faster than you could alone.

Navigating Cultural Differences for Operational Success

Understanding cultural nuances is vital for maintaining a healthy workplace and strong client relationships. When you complete your foreign company registration in Bangladesh, your local partner acts as a guide to help you navigate these social complexities. This cultural alignment builds lasting trust, which is the cornerstone of any successful enterprise in the region.

By prioritizing these strategic advantages, you position your firm for stability and growth. A well-structured partnership ensures that you remain compliant while effectively managing the intricacies of foreign company registration in Bangladesh. This proactive strategy ultimately secures your place in the evolving Bangladeshi market.

Understanding the Legal Framework for Joint Ventures

Entering the legal world is crucial for any entrepreneur. Before starting your Joint Venture Company Registration in Bangladesh, it’s vital to understand the legal framework for corporate entities. Knowing these rules ensures your business stays compliant from the start.

Distinguishing Between Joint Ventures and Partnership Firms

Many investors mix up joint ventures with standard partnership firms. Though both involve teamwork, they differ legally and in protection levels. A joint venture is usually a private limited company, giving it a distinct legal identity separate from its owners.

Feature	Joint Venture (Company)	Partnership Firm
Legal Status	Separate Legal Entity	Not a Separate Entity
Liability	Limited Liability	Unlimited Liability
Registration	RJSC Incorporation	Partnership Act Registration

The right structure depends on your goals. Limited liability is key for joint ventures, shielding personal assets from business debts. Partnerships, however, expose partners to personal financial risk, less ideal for big international projects.

Regulatory Requirements for Foreign Investors

Foreign investors must follow government guidelines to stay legitimate. The joint venture company registration in Bangladesh process requires strict RJSC compliance. All documents must accurately show foreign equity participation.

After incorporation, you need BIDA clearances. Transparency in capital and shareholding is crucial for approval. By meeting these regulations, you lay a solid base for your business to succeed locally.

Essential Steps for Company Name Clearance and Registration

Starting your business journey requires a name that’s unique and meets local laws. This first step is critical as it sets your brand’s identity in Bangladesh’s legal framework. Proper preparation helps avoid delays in your application.

Navigating the RJSC Name Clearance Process

The Registrar of Joint Stock Companies and Firms (RJSC) oversees the verification of business names. You must submit your name through their online portal to check if it’s available. Accuracy is essential to avoid application rejection due to name similarities.

After submitting, the authorities check the database to ensure your name doesn’t conflict with trademarks or existing names. If approved, you get a clearance certificate valid for a certain time. It’s crucial to

complete your registration quickly after approval to secure your name.

Selecting a Compliant Business Name

Choosing the right name is more than creativity; it’s about following strict naming rules. Whether it’s for company name clearance or partnership firm name clearance, your name must be unique and professional. Avoid names that could confuse the public about your business type.

When deciding on your name, consider these important points:

• Make sure the name is not the same or very similar to another company’s.
• Ensure the name doesn’t suggest government support or official status.
• Check that the name fits the legal structure of your business.

By adhering to these guidelines, you reduce the chance of your name being rejected. A compliant name is the first step in gaining trust from stakeholders and clients in Bangladesh.

Drafting a Robust Shareholders Agreement

A well-crafted shareholders’ agreement is the cornerstone of your business partnership in Bangladesh. It safeguards your capital and operational interests when you engage in a joint venture. This document ensures all parties are aligned with the company’s long-term objectives.

Without a formal agreement, your business may face significant risks during disagreements or market volatility. Proactive planning helps establish clear rules before disputes occur. It bridges the gap between initial expectations and daily operations.

Defining Roles and Responsibilities Among Partners

Clear communication about individual duties is crucial for your joint venture’s smooth operation. Documenting each partner’s specific roles prevents overlapping authority or confusion. This clarity ensures operational efficiency and accountability across departments.

By outlining these responsibilities, you create a framework for accountability. It’s wise to include provisions for decision-making, especially for major corporate actions. This ensures your business remains agile while respecting all partners’ input.

Structuring Equity Shares and Capital Contributions

The financial structure of your venture needs careful attention for long-term stability. Define the equity distribution and capital contribution schedule for each party. A transparent approach to these financial commitments prevents future friction over ownership stakes and funding obligations.

Consider the following table to understand the critical components of your agreement for a balanced partnership:

Component	Purpose	Impact on Partnership
Equity Allocation	Defines ownership percentage	Determines voting power and profit share
Capital Injection	Sets funding timelines	Ensures liquidity for business growth
Dividend Policy	Outlines profit distribution	Maintains financial transparency
Dispute Resolution	Provides conflict mechanisms	Protects the company from deadlock

Structuring these elements correctly protects your investment from unforeseen financial burdens. Fairness and consistency in your capital contribution strategy fosters trust among partners. A well-structured agreement is crucial for sustained success in the competitive Bangladeshi market.

Incorporating Dispute Resolution and Exit Strategies

Creating a resilient joint venture in Bangladesh goes beyond a solid business plan. It’s crucial to embed robust legal safeguards in your foundational documents to safeguard your interests. This proactive step ensures your business remains resilient against unforeseen market changes.

Establishing clear protocols early on helps avoid operational paralysis. Proactive planning enables you to tackle complex challenges without sacrificing your core objectives. These strategies form the foundation for your company’s long-term stability.

Planning for Market Changes and Business Continuity

The economic landscape in emerging markets can shift rapidly. It’s essential to include clauses that address market volatility and potential changes in local regulations. These provisions ensure business continuity, even when external conditions become challenging.

An effective exit strategy is crucial for your peace of mind. It outlines a clear path for partners to follow if the venture no longer fits their strategic goals. Documenting these terms prevents costly litigation and safeguards the value of your investment.

Establishing Transparency to Build Partner Trust

Transparency is the key to a healthy partnership. Sharing financial data and operational updates openly fosters a culture of mutual accountability. This honesty builds trust, essential for overcoming inevitable disagreements.

Implementing regular reporting cycles keeps all stakeholders informed. Clear communication channels ensure that both local and foreign partners are aligned with the company’s vision. When everyone understands the rules of engagement, conflict likelihood decreases significantly.

Method	Primary Benefit	Speed of Resolution	Cost Efficiency
Negotiation	Preserves Relationship	Very Fast	High
Mediation	Neutral Guidance	Moderate	Medium
Arbitration	Binding Decision	Slow	Low
Litigation	Legal Precedent	Very Slow	Very Low

Navigating BIDA Registration for Foreign Entities

The Bangladesh Investment Development Authority is the main entry point for international investors. Getting your bida registration is crucial. It confirms your business’s legitimacy and ensures you follow the law.

Understanding the Role of the Bangladesh Investment Development Authority

BIDA is the government’s key investment promotion agency. Its main goal is to make it easier for foreign investors to enter the market. They simplify the setup process for newcomers. By connecting the private sector with government ministries, BIDA helps overcome obstacles. This support is vital for a smooth start in Bangladesh.

Documentation Requirements for BIDA Approval

To start your bida registration, you need a detailed set of documents. Being precise here avoids delays and keeps your application moving smoothly. Here’s a list of the main documents you’ll need:

• Certified copies of the Memorandum and Articles of Association.
• A formal application letter signed by the authorized representative.
• Proof of inward remittance of initial capital investment.
• Detailed project profile or business plan outlining your operational goals.
• Valid trade license and tax identification documents.

Consistency in your paperwork is essential. After submitting these documents, the authority checks if your application meets the national policy. A successful bida registration gives you the legal backing to grow your business.

Managing RJSC Annual Return Filing and Compliance

Ensuring your business meets the requirements of the Registrar of Joint Stock Companies and Firms (RJSC) is crucial. Maintaining your company’s good standing demands ongoing attention to legal obligations. This diligence safeguards your business from penalties and operational hiccups.

Deadlines and Procedures for Annual Returns

The necessity of rjsc annual return filling cannot be overstated for all registered entities in Bangladesh. Adherence to filing deadlines is imperative to avoid unnecessary costs. A proactive stance towards rjsc return submission ensures a spotless corporate history.

Companies must organize an Annual General Meeting (AGM) and submit the required documents promptly. Neglecting these deadlines can result in the suspension of your company’s status. Always refer to the RJSC portal for the latest filing schedules to fulfill your obligations.

Importance of Schedule X Submission in Bangladesh

The duty of company schedule x submission is paramount. This document updates the authorities on your share capital and shareholder details. Accurate company schedule x submission ensures your corporate data is up-to-date and legally compliant.

Effective rjsv schedule x submission in Bangladesh confirms your internal records align with the government’s database. This synchronization is essential for securing future investments or obtaining bank loans. Utilize the table below to monitor your compliance milestones.

Compliance Task	Frequency	Primary Purpose
Annual General Meeting	Once per year	Approval of financial statements
Annual Return Filing	Annually	Updating company status
Schedule X Filing	As needed	Reporting capital changes
Audited Accounts	Annually	Financial transparency

Taxation and VAT Registration Requirements

Setting up a strong tax foundation is crucial for your business’s success. In Bangladesh, following tax laws closely helps avoid legal issues and boosts your company’s reputation. Proactive management of your tax affairs is a sign of a well-organized business.

Obtaining a Tax Identification Number (TIN)

Getting a Tax Identification Number (TIN) is your first step in managing taxes. This number is essential for doing business, opening bank accounts, and handling payroll. You must apply for it through the National Board of Revenue (NBR) portal to register your business in the national tax system.

After getting your TIN, you must file annual tax returns, even if your business doesn’t make a profit. Timely filing is crucial to avoid penalties and keep your business in good standing. Keeping your financial records up to date will make filing easier.

Navigating VAT Registration and Periodic Return Submission

Your business also needs to handle indirect taxes through vat registration. This registration lets your company collect and pay value-added tax on goods and services sold in the country. Registering as soon as you start operations is important to stay in line with local laws.

Once registered, you must submit vat returns regularly. These submissions help the government track your taxable activities and ensure your business pays its fair share. Consistency is key to avoid any operational disruptions.

Requirement	Frequency	Primary Authority
TIN Registration	One-time	NBR
VAT Registration	One-time	NBR/VAT Office
VAT Return	Monthly	VAT Commissionerate
Corporate Tax Return	Annually	NBR

Import and Export Licensing for Joint Ventures

Your joint venture’s success in importing and exporting goods hinges on strict adherence to government trade policies. A thorough understanding of the local regulatory framework is crucial. Obtaining the correct import registration is essential for any business aiming to engage in cross-border commerce in Bangladesh.

Securing Import Registration Certificates (IRC)

To start your trade activities, securing an Import Registration Certificate (IRC) from the Office of the Chief Controller of Imports and Exports (CCIE) is mandatory. This certificate is your official permit to import commercial goods into the country. Without it, your venture cannot legally clear shipments through customs.

The application process requires submitting your trade license, tax identification number, and proof of bank solvency. Your business profile must clearly outline the goods you plan to trade. After approval, your

import registration is valid for a set period and must be renewed on time to avoid disruptions.

Compliance Standards for International Trade

Effective operation in the import and export sectors demands strict adherence to compliance standards. You must keep accurate records of all transactions, including invoices, bills of lading, and packing lists. These documents are vital for audits and show your commitment to transparency with regulatory bodies.

Additionally, staying current with customs duty structures and prohibited item lists is crucial. Non-compliance can result in heavy fines or the suspension of your trade privileges. By focusing on import registration and maintaining strict documentation, you safeguard your joint venture from legal risks and ensure smooth supply chain operations.

Managing Foreign Company Share Transfers

Understanding the intricacies of a joint venture share transfer is crucial when restructuring your business’s equity. Ensuring that your ownership changes are legally recognized is paramount. This involves proper documentation that meets the standards of the Registrar of Joint Stock Companies and Firms (RJSC) in Bangladesh.

Legal Procedures for Joint Venture Share Transfers

Executing a foreign company share transferrequires adherence to several mandatory steps. The first step is to draft a formal share transfer instrument, commonly known as Form 117. This document outlines the details of the transferor and transferee.

After drafting the instrument, you must submit the updated share transfer deed to the RJSC. It is essential to ensure that all stamp duties are paid according to the local valuation of the shares. Neglecting these procedural requirements can result in significant delays in updating your company’s statutory records.

Regulatory Approvals for Equity Restructuring

Equity restructuring often requires specific approvals from the Bangladesh Investment Development Authority (BIDA). If the transfer involves a foreign entity, verifying that the transaction complies with existing investment permissions is necessary.

In some instances, clearance from the Bangladesh Bank may be required, especially for cross-border capital movements. Transparency throughout this process is crucial for building trust with partners and regulatory bodies. Keeping detailed records of board resolutions authorizing the restructuring is essential to avoid future disputes.

Requirement Type	Primary Authority	Key Document
Share Transfer Filing	RJSC	Form 117
Investment Approval	BIDA	Amended Permission Letter
Capital Repatriation	Bangladesh Bank	Encashment Certificate

Establishing Branch and Liaison Offices

Deciding between a branch office and a liaison office is crucial for any international company entering the Bangladeshi market. Before starting your branch office registration, assess your long-term goals and the activities you plan to undertake in the country.

Differences Between Branch and Liaison Office Registration

A liaison office serves as a communication link between your parent company and local entities. It is strictly prohibited from engaging in any commercial activity that generates income in Bangladesh. On the other hand, a branch office acts as an extension of your foreign company. It is allowed to conduct business operations, including sales and service delivery.

Choosing liaison office registration means setting up a representative office to promote your brand. This is ideal for market research and coordination. However, if you aim to generate direct revenue, the more detailed branch office registration process is necessary.

Operational Limitations and Regulatory Compliance

Both office types need approval from the Bangladesh Investment Development Authority (BIDA). A branch office can repatriate profits after paying local taxes. In contrast, a liaison office cannot earn income, so all operational expenses must be covered by the parent company abroad.

Compliance standards are strict for both structures. You must keep accurate financial records and submit regular reports to the relevant authorities. This ensures your liaison office registration remains valid. Non-compliance can result in severe penalties or the cancellation of your business permit.

Feature	Liaison Office	Branch Office
Commercial Activity	Not Permitted	Permitted
Income Generation	None	Allowed
Profit Repatriation	Not Applicable	Allowed
Primary Purpose	Communication	Business Operations

Handling Company Annual Tax Submissions

Managing your tax obligations is crucial for a successful joint venture in Bangladesh. By focusing on your company annual tax submission, you keep your business compliant with the National Board of Revenue (NBR). This compliance shields your venture from legal issues and lays a strong foundation for growth.

Corporate Tax Obligations for Joint Ventures

Joint ventures in Bangladesh face specific corporate tax rates, depending on their structure and industry. You must file your income tax return annually to avoid penalties. Timely filing is a sign of a professional and reliable business.

Your company annual tax submission must accurately report your income, expenses, and tax credits. Inaccurate financial data can attract tax authority scrutiny. Stay updated on Finance Act changes to ensure compliance.

Best Practices for Financial Reporting and Audits

Keeping financial records clean and transparent is key for a smooth audit. Implement strong internal controls to track all transactions. Organized records make the company annual tax submission easier, not a burden.

To prepare for audits, follow these steps:

• Maintain a detailed ledger of all income and expenses.
• Keep verified copies of VAT challans and tax deduction certificates.
• Prepare financial statements according to International Financial Reporting Standards (IFRS).
• Reconcile bank statements monthly to spot discrepancies early.

Adopting these best practices shows your commitment to transparency and governance. A well-prepared audit report meets regulatory needs and builds trust with partners and stakeholders. Financial discipline is vital for staying competitive in the Bangladeshi market.

Visa and Work Permit Extensions for Foreign Personnel

Managing the legal status of your foreign staff is a critical component of operating a joint venture in Bangladesh. It’s essential to ensure that every international team member has valid documentation. This prevents disruptions in your business activities. Staying ahead of regulatory deadlines also protects your company from penalties and operational delays.

Applying for E-Visa Extensions

When your foreign personnel need to extend their stay, the e-visa extension process is the primary administrative pathway. Start this application well before the current visa expires to maintain continuous residency. Timely submission is crucial to avoid any lapse in legal status for your employees.

The online portal offers a streamlined experience, but you must provide accurate supporting documents from your joint venture. Ensure your invitation letters and company registration papers are current. By being proactive with your e-visa extension filings, you ensure stability for your international staff.

Securing Work Permits for Expatriate Employees

Beyond residency, your expatriate employees need valid work permits to legally perform their duties. These permits are processed through the Bangladesh Investment Development Authority (BIDA). You must show that the specific skills required for the role are not available in the local labor market.

Compliance with local labor laws is non-negotiable for your joint venture. You are responsible for ensuring all tax filings and salary disclosures for expatriates are transparent and accurate. Keeping these records helps avoid complications during audits or permit renewals.

Document Type	Primary Authority	Key Requirement
E-Visa Extension	Department of Immigration	Valid Passport & Sponsor Letter
Work Permit	BIDA	Employment Contract
Security Clearance	NSI/SB	Background Verification

Navigating the Process of Company Winding Up

When your joint venture reaches its end, you must navigate the formal company winding up process with precision. A structured approach ensures you meet all regulatory obligations. It also protects your professional reputation in the Bangladeshi market. Planning for a clean exit is as crucial as the initial registration of your business.

Legal Requirements for Voluntary Liquidation

The voluntary liquidation of a company in Bangladesh starts with a formal resolution by the shareholders. You need to appoint a liquidator to oversee the distribution of assets and settle liabilities. This person is the primary authority during dissolution.

After appointing the liquidator, you must file necessary notices with the Registrar of Joint Stock Companies and Firms (RJSC). Not doing so can lead to legal issues or penalties. Compliance with the Companies Act is essential to officially terminate the entity’s legal status.

Managing Creditor Claims and Final Filings

Managing creditor claims is a key step in the company winding up process. You must give public notice to all potential creditors, allowing them time to submit claims. It’s crucial to verify these claims before distributing assets.

After settling debts and tax obligations, prepare the final accounts for the liquidator’s review. These documents, along with a report on the liquidation, are submitted to the RJSC for approval. Transparency throughout this stage builds trust with stakeholders and ensures a legally sound exit.

Best Practices for Partnership Firm Registration at RJSC

Planning to start a collaborative business? Mastering the registration process is crucial for success. A smooth partnership firm registration Bangladesh requires attention to detail and following RJSC guidelines.

Step-by-Step Guide to Partnership Firm Registration

Understanding how to register a partnership firm registration at rjsc involves several steps. First, choose a unique name that meets local rules and doesn’t conflict with trademarks. After picking a name, draft the partnership deed. This document outlines profit sharing, capital, and partner roles. Then, submit the application with key documents:

• A signed partnership deed copy.
• Form I with firm and partner details.
• Proof of office address, like a utility bill.
• National ID copies for all partners.

Maintaining Statutory Records for Partnership Firms

Registration is just the start of your compliance journey. To keep your business compliant, maintain accurate records at your office. Consistency is key in managing these documents to avoid legal issues.

Keep updated records of partners, meeting minutes, and financial ledgers. Prioritizing transparency and organized record-keeping builds trust among partners and stakeholders. Proper documentation is essential for a successful partnership firm registration Bangladesh, providing a solid base for your business.

Securing Long-Term Success Through Strategic Compliance

Establishing a joint venture in Bangladesh demands more than just the initial setup. It requires a steadfast commitment to ongoing vigilance. This is essential to safeguard your business interests and uphold operational integrity.

Regular audits are crucial for your company’s health. They pinpoint potential legal gaps before they turn into expensive issues. By staying ahead of regulatory changes and reporting needs, you gain a competitive advantage.

Ensuring timely filings with the Registrar of Joint Stock Companies and Firms keeps your entity compliant. Proactive management of tax obligations and work permit renewals avoids disruptions. This disciplined approach builds trust with local partners and government bodies.

Your commitment to transparency lays the groundwork for sustainable growth. By focusing on these administrative tasks, your venture is set to flourish in the dynamic Bangladeshi market. Adherence to legal standards is the key to long-term stability and success.

FAQ

Q: How do you initiate joint venture company registration in Bangladesh?

A: To start the joint venture company registration in Bangladesh, first get your company name cleared by the Registrar of Joint Stock Companies and Firms (RJSC). After approval, draft the Memorandum and Articles of Association. Then, complete the necessary filings to register your limited company in Bangladesh successfully.

Q: What are the primary benefits of foreign company registration in Bangladesh through a joint venture?

A: Choosing foreign company registration in Bangladesh through a joint venture merges your global expertise with local market knowledge. This approach is crucial for managing risks, understanding cultural nuances, and boosting growth in the Bangladeshi economy.

Q: How to register a partnership firm registration at RJSC effectively?

A: To register a partnership firm at RJSC, apply for name clearance first. After approval, submit the partnership deed and required forms to RJSC. This ensures your partnership firm in Bangladesh is legally recognized.

Q: Why is BIDA registration essential for your foreign entity?

A: BIDA registration is vital for foreign investors. It grants the necessary approvals for industrial projects. It also allows profit repatriation, expatriate staff work permits, and access to government investment incentives.

Q: What are your obligations regarding RJSC annual return filing and company Schedule X submission?

A: Your entity must comply with RJSC annual return filing. A key part is submitting the company Schedule X, which lists shareholders and share capital. Regular submissions are crucial to avoid penalties and keep your company in good standing.

Q: How do you manage VAT registration and VAT return submission for your business?

A: After registering your company in Bangladesh, apply for VAT registration to get a Business Identification Number (BIN). Then, submit a monthly VAT return to comply with the National Board of Revenue’s rules.

Q: What is required for import registration to facilitate international trade?

A: To trade, you need an import registration certificate (IRC). You must submit incorporation documents, trade license, and VAT registration proof to the Office of the Chief Controller of Imports and Exports. This ensures your international trade is legal.

Q: How is a joint venture share transfer or a foreign company share transfer legally executed?

A: Executing a joint venture share transfer requires board approval and a formal transfer deed. For a foreign company share transfer, report all equity restructuring to RJSC and the central bank where necessary. This ensures the transaction is legally binding.

Q: What is the difference between branch office registration and liaison office registration?

A: Branch office registration lets your foreign parent company conduct commercial activities and earn income in Bangladesh. Liaison office registration, however, limits activities to coordination, market research, and promotion, without profit-making permissions.

Q: What should you know about company annual tax submission in Bangladesh?

A: Every registered entity must submit an annual tax return. This involves preparing audited financial statements and filing corporate tax returns with tax authorities. It fulfills your fiscal duties and ensures transparency.

Q: How can foreign personnel secure an e-visa extension?

A: For expatriate employees, manage the e-visa extension through the Department of Immigration and Passports. This requires a BIDA recommendation and proof of valid employment to maintain legal residency.

Q: What does the company winding up process involve for joint ventures?

A: The winding up process for joint ventures includes a formal voluntary liquidation. You settle all creditor claims and distribute remaining assets. Complete final RJSC filings to formally dissolve the entity and ensure a compliant exit.

Q: Why is the RJSC Schedule X submission in Bangladesh considered critical?

A: The RJSC Schedule X submission in Bangladesh is a mandatory annual filing. It updates your company’s shareholding structure. Failure to submit can lead to legal issues and hinder future corporate actions.

For official information, visit the RJSC official website or the BIDA official portal. Learn more about our company registration services. Read our guide on foreign company registration in Bangladesh or partnership firm registration.