‘No fee for starting companies with below Tk 50,000’...

Dhaka, Thursday   06 August 2020

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‘No fee for starting companies with below Tk 50,000’

 Staff Correspondent daily-bangladesh.com

 Published: 04:45 PM, 13 June 2019   Updated: 08:37 PM, 13 June 2019

File Photo

File Photo

Finance Minister AHM Mustafa Kamal said that there will be no fee for starting companies having capital of less than Tk 50,000 to facilitate rapid industrialization and employment generation in the country.

“An amendment to ‘Companies Act 1994’ has been initiated for improvement of the business environment,” he said these on Thursday while unveiling the fiscal year 2019-20 (FY20) budget in the Jatiya Sangsad.

The minister said, “Rapid industrialization and employment generation will be possible if we can reduce the cost of starting a business. To attain this objective, reform activities have been strengthened to improve (position) in the Ease of Doing Business Index of Bangladesh within two digits.”

“Various registration fees applicable for companies have already been significantly reduced,” he added.

“One Stop Service (OSS) has been introduced so that the investors can get different kinds of investment-related services easily and quickly,” informed Finance Minister adding, “Provision of investment-related services as One Stop in 64 districts will be monitored, and investment-related services will be gradually provided to all districts through One Stop Service.”