Monday, 18 July 2016 09:44

Advantages of having a Company Lawyer while incorporating a Company

Bangladesh is home for ample opportunities for business resulting in large number of business organizations being incorporated every year. As of May 2016, around 7447 Companies; 198 Societies; 1318 Partnerships and 30 Trade Organizations have been registered with the Registrar of Joint Stock Companies and Firms (RJSC), Bangladesh.

Foreign investments have also been highly encouraged and have been rapidly increasing over time in various sectors, such as textile industry, financial and banking, etc. 

With the increasing expansion of formation of companies, the demand for company lawyers are also in the rise. The expertise of the company lawyers in Bangladesh has assisted the entrepreneurs in many ways starting from the incorporation of companies to lawful administration and operations of the same. 

Company lawyers in Bangladesh with their profound knowledge in company law is able to draft Articles of Association and Memorandum of Association impeccably as per the requirements of the Company house of Bangladesh (i.e.: The Registrar of Joint Stock Companies and Firms (RJSC) and in compliance with the Company Act 1994. The RJSC has certain stipulations while accepting the Articles of Association and Memorandum of Associations, without which they shall not accept such documents and shall return it. The procedures that are to be followed by the RJSC are bureaucratic and complicated, which only a Company lawyer is expedient to do.  Additionally, each clause in the Articles of Association and Memorandum of Association shall always have to comply with the Companies Act 1994.

The company lawyers, along with drafting the Articles of Association and Memorandum of Association, assist their clients regarding the steps that need to be taken in order to obtain name clearance certificate (pre requisite for formation of company) and certificate of incorporation from the RJSC. In addition to that, the company lawyers draft and/ or review various legal documents such as contracts, tender documents and employment agreement (in accordance with the Bangladesh Labour Code 2006).

 

Annual Company Statutory Maintenance

The Company lawyers in Bangladesh is also proficient in keeping up the annual statutory maintenance of the company. Preparation of day to day formalities such as, preparing and serving legal document as to meeting of the board of directors; General meeting; Annual general meeting; Extra-ordinary general meeting; change of address; change of directors; sale of shares; compliances related matters; and many more are all dealt by a Company Lawyer in accordance with the company laws in Bangladesh. 

The company lawyers are also efficient in preparing Legal Due Diligence Report ensuring that the company is operating in accordance with the applicable laws and further advising the clients regarding the consequence of their failure, if any, to comply with the laws and steps that need to be taken on the part of the client in order to ensure compliance with the applicable domestic laws. 

A Company lawyer is adequately skilled in dealing with any law related queries or procedure and land related concerns and also appear before the relevant court when it is necessary.       

FM Associates have years of experience and expertise when it comes to dealing with company related matters. All of the responsibilities conducted by Company lawyers as stated above is very efficiently dealt by FM Associates on a daily basis. We have worked and are still working with many prominent and top notch companies both nationally and internationally, advising on company related issues and we have proven records when dealing with company related concerns as per the laws of Bangladesh.

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Last modified on Monday, 13 February 2017 12:48