Foreign Enterprise Service Company (FESCO)

Company Formation and Registration VAT and TAX Services.

Foreign Company Business registrations VAT service tax.

Business Plans and market entry support services

Advice on choosing a business structure

Tax registrations (Corporation Tax, VAT)

Advice on finding office space

Advice on choosing a business structure

Foreign Enterprise Service Company (FESCO): A Smart Move For Foreign Company

 

Foreign enterprises wishing to develop abroad will find Bangladesh to be an interesting place to do so. There are several significant laws that a corporation must follow in order to enter the Bangladesh market and develop a local presence. Many foreign enterprises looking to break into the Bangladeshi market may find it challenging owing to a lack of understanding of local legislation and requirements. We are a trustworthy foreign enterprise service company (FESCO). Small businesses may find it difficult to find all of the services they require in one location. Getting firms up and operating smoothly is no longer a challenge with our extensive support offerings.

For your business plans, we will advise you on the optimal company structure to adopt. We can set up a corporation in a matter of days and establish accounting systems as well as take care of financial and tax compliance on a daily basis. However, because there are so many additional factors to consider, our assistance does not end there.

Bangladesh has been a major rising market in the world for the past two decades, thanks to its educated and well-spoken population, which has provided strong backend staff to big corporations looking to set up shop in Bangladesh. Bangladesh’s presence has become even stronger since the introduction of a unified Goods and Services Tax and the creation of a single-window registration and compliance system. With our high-quality business setup services in Bangladesh, Eicra.com can help you start a business.

Benefits You Get From Foreign companies setting up in Bangladesh

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Skilled workforce
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Funding grants, loans and other support
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Provide incentives for firms to locate in specific locations
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Good infrastructure

 3 Special Reasons You Get Foreign Enterprise Service Company (FESCO) In Bangladesh To Rich brand experience

1. Business Sustainable Environment

Bangladesh, being a developing economy, provides a fairly stable environment for a variety of industries. We are strengthening its infrastructure in terms of roads and internet access in rural regions, making Bangladesh an ideal place to do business and creating a favorable business environment for a variety of industries to operate in.

2. Increasing Demand in the Market

When it comes to the consumption of commodities, the expanding population and a better-off middle class have expressed an interest in a global approach. The need for basic facilities is increasing in tandem with the growing population. This enables a variety of enterprises with a competitive advantage to expand and sell to a more educated public.

3. Cost-Effectiveness

When compared to industrialized countries, Bangladesh has cheaper labor, food, electricity, and infrastructure, which encourages manufacturers to set up shop there, not only to take advantage of the large markets it offers, but also to save money on production costs. Another economic advantage to run the units in Bangladesh is the availability of skilled low-cost labor.

Online Company Registration Smart Approach To The Taxation in Bangladesh

Our Foreign Enterprise Service Company has everything you’ll need to get your business off the ground.

We Provide The Best Tax and VAT services for foreign company

This is only one of several sectors of professional services where our firm has a significant advantage over the competition. For both individual and corporate clients, the Eicra.com Tax Consultancy team provides comprehensive taxes solutions. Many of our partners and lawyers are experts in tax consulting, and many of their cases have been approved as guidelines by the Bangladeshi High Court and tax authorities, and are used to determine the resolution of numerous tax issues.

International professional services businesses have approached us for our experience in these areas, as they seek the finest solutions for their clients. We make an effort to understand our clients’ businesses and collaborate closely with them in order to give tailored tax advice that results in the most effective and efficient discharge of their tax liabilities.

When doing business overseas, value added tax (VAT) can affect practically every transaction and can be a significant component in a company’s cash flow as well as a genuine bottom-line cost. As more businesses operate globally and conduct cross-border transactions involving the delivery of goods or the provision of services, there is a growing desire to be VAT compliant in a foreign country and to obtain information about VAT treatment during business case planning, including VAT rates, VAT registration obligations, simplifications, and refund options.

More than 40 VAT specialists from across the world are organized in our International VAT Group, which provides regular communication, professional exchange, discussing methods and hot themes in VAT and changes in law, as well as leading practice across industries. As a result, Eicra.com can advise you on all national and international VAT difficulties as well as declaration requirements. Eicra.com is glad to assist you in navigating the complex topic of VAT in relation to your company needs, with the help of a global team of experienced VAT professionals.

Advisory services for all ongoing VAT queries in your daily business, with a high-level practical and sector-oriented approach for national and cross-border concerns, as well as collaboration with colleagues in the relevant countries across the world. Dealings with local tax authorities: Support in conversations with the tax authority during audits or special VAT audits, as well as filing appeals or statements of claims, and judgments. Client-designed in-house workshops for common business cases and the qualifications of participating employees.

  • Corporate Tax Assessment and Planning
  • Preparation and submission of income tax returns for local and Expat individuals
  • Deferred tax computation and application
  • Acting on behalf of the clients as a tax representative
  • Capital Gains Tax
  • Partnership tax
  • Tax appeals
  • Tax effective Remuneration planning

Core Benefits You Get From Our Services

 

1. Your Products and Services Will Have Access to New Markets:

 

A foreign subsidiary is a legal entity that is established in another country. Legal entities have the ability to promote their goods and services to the general public. We have the ability to import and export commodities as well. Furthermore, businesses with a local presence can spread their brand recognition into new markets, thereby increasing earnings.

 

2. Access to Local Knowledge  

 

By establishing a legal entity in Eicra.com, a business can make new business relationships with local partners and set up joint ventures that take advantage of localized knowledge.

 

3. Streamlined Processes and Incentives  

 

We encourage foreign investment and make the process of forming a business as straightforward as possible. We even offer financial incentives to attract foreign investment, such as:

Tax incentives

There is no requirement for a minimum amount of capital.

Zones of special economic significance

Zones of free trade

Integration procedures that are more efficient

There are no or little limitations on foreign company ownership.

FAQ for Foreign Enterprise Service Company (FESCO)

Are there any exceptions to the new rules?

The contribution used to be computed based on the participating employee’s average monthly pay income from the preceding year, therefore the greater the salary, the higher the contribution. Because employers are required to match employee contributions, businesses must set aside more money when salaries climb. Individual income taxation does not apply to contributions.

What are the main indirect taxes in Bangladesh?

The main indirect tax is VAT, which is levied at rates of 16 percent, 10%, and 6%. Different sectors or activities may have lower rates. There are also consumption taxes ranging from 1% to 56%, land appreciation taxes ranging from 30% to 60% of gain, customs charges, stamp duty, and environmental taxes.

How can FIEs recruit local and foreign employees?

Bangladeshi personnel might be hired directly by FIEs or through local employment service centers. Foreign nationals, on the other hand, must obtain permission from the local Human Resources and Social Security Bureau, and the business must show why local employees are unable to fill the post or are otherwise ineligible. Expatriates must meet a number of criteria, including an academic degree, a professional certification, a post, and a contract period, among others.

How easy is it in Bangladesh to terminate employment?

Only legislative grounds allow employers to terminate an employee’s contract. Employers must pay an employee a severance payout equal to one month’s average wages for each year of service, subject to legislative limits. Employees can easily end their employment contracts by giving 30 days written notice (or three days during the probationary period).

Foreign Enterprise Services Solutions For Foreign Employees Cover Life Services

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