Starting an import business in Bangladesh is a great opportunity for entrepreneurs looking to enter the global trade market. The country has a growing economy, increasing demand for imported goods, and supportive government policies for trade. However, before you can start importing goods, you need to go through a proper business registration process.

Setting up an import business involves multiple legal procedures, licenses, and approvals. You must complete company registration, obtain a trade license, register for VAT, and apply for an Import Registration Certificate (IRC). If you are a foreign investor, foreign company registration requirements also apply. Understanding the process will help you avoid legal complications and start your business smoothly.

If you are new to the process, navigating these steps might seem complex. Luckily, expert guidance from firms like Law Advisor BD can simplify online company registration in Bangladesh. In this guide, we’ll break down the step-by-step process of registering an import business.

Steps to Register an Import Business in Bangladesh

Starting an import business in Bangladesh requires completing several legal procedures. Below are the essential steps to ensure your company registration is done correctly and efficiently.

1. Choose a Business Structure
   Before applying for business registration, you must decide on your company’s structure. Most import businesses in Bangladesh operate as private limited companies due to their legal benefits. If you are a foreign investor, you must also follow foreign company registration rules.

2. Register the Company with RJSC
   The first step in official company registration is to apply with the Registrar of Joint Stock Companies and Firms (RJSC). You must submit a name clearance application, prepare the Memorandum and Articles of Association, and pay the registration fees.

3. Obtain a Trade License
   After completing company registration, your business must obtain a trade license from the local city corporation or municipality. This document allows you to legally operate in Bangladesh.

4. Apply for a TIN and VAT Registration
   A Tax Identification Number (TIN) from the National Board of Revenue (NBR) is mandatory for tax compliance. You also need to complete VAT registration, which allows your company to conduct legal transactions.

5. Get an Import Registration Certificate (IRC)
   One of the most important steps in business registration for import businesses is obtaining an Import Registration Certificate (IRC). This is issued by the Office of the Chief Controller of Imports and Exports (CCI&E). Without an IRC, you cannot import goods into Bangladesh.

6. Open a Bank Account and Obtain an Exporter-Importer Code (EIC)
   To conduct international trade, you must open a corporate bank account. Additionally, you need an Exporter-Importer Code (EIC) from Bangladesh Bank, which enables your business to engage in import activities.

7. Complete Custom and Port Formalities
   Once all legal formalities are done, you must register with the Bangladesh Customs Department. This step ensures that your imported goods are properly cleared through customs and comply with trade regulations.

Import Duty and Compliance Regulations in Bangladesh

Understanding import duties and trade regulations is crucial before launching an import business. Failing to comply with customs rules can result in delays, penalties, or seizure of goods. Here’s what you need to know about import compliance:

1. Customs Duties and Taxes
Importers in Bangladesh must pay various taxes, including Customs Duty (CD), Supplementary Duty (SD), Value Added Tax (VAT), and Advance Income Tax (AIT). The exact amount depends on the type of goods imported.

2. Product-Specific Licenses
Some imported products require additional permits. For example, importing food products, chemicals, or pharmaceuticals requires approval from regulatory bodies like the Bangladesh Food Safety Authority (BFSA) or the Directorate General of Drug Administration (DGDA).

3. Compliance with Bangladesh Standards and Testing Institution (BSTI)
Many imported goods must meet the quality and safety standards set by BSTI. Without BSTI certification, customs clearance might be delayed or denied.

4. Restrictions on Certain Imports
Bangladesh prohibits the import of specific goods, such as certain pesticides, hazardous chemicals, and counterfeit products. Before placing orders, check the list of restricted and banned items to avoid legal issues.

Conclusion

Starting an import business in Bangladesh involves multiple legal steps, from company registration to customs compliance. Understanding the process and following regulations will help you avoid complications.

If you’re looking for professional assistance, firms like Law Advisor BD can help you with online company registration in Bangladesh and legal compliance. Their expertise ensures that your foreign company registration or local import business is set up smoothly.