When we are setting up a company for the first time in Bangladesh there are several questions that arise in the mind, for example "What are the legal obligations one may have to face while incorporating the company?" or "What relevant institution that I have to contact for registering the company".
The Government of Bangladesh has introduced a number of important legislations in order to assist and protect the foreign investment in the country. Laws such as the Foreign Private Investment (Promotion and Protection) Act of 1980 seek to treat foreign investment reasonably and equitably, as result private investors will be benefited from the full protection and precautions of the country.
Peoples’ Republic of Bangladesh is a common law country and after it attained its independence in 1971, Legal System of Bangladesh adopted own constitution in the year 1972 under the brave leadership of Father of the Nation Bangabandhu Sheikh Mujibur Rahman. Based on the constitution, the legal system of Bangladesh has taken its shape.
When a foreigner enters Bangladesh, he enters with specific visas as set by the requirements of the land. Procuring a work permit and visas in Bangladesh could be a hurdle some process at times. If a foreign expat wants to enter Bangladesh, he needs to apply and obtain work permit from the Board of Investment in Bangladesh. Obtaining visa and work permit
Now in Bangladesh non-banking financial institutions are allowed to hold their board, executive committee and audit committee meetings by video conferencing, if necessary, with prior permission from Bangladesh Bank. Any non-banking financial institutions will be allowed to hold such meetings through video conferences if its chairman and directors stay outside of Bangladesh.
Deaths attributable to smoking are projected to increase substantially throughout the 21st century and much of the increase will occur in low- and middle-income countries such as Bangladesh, whose population of 160 million makes it the seventh most populous country in the world. More than half of Bangladeshi men over the age of 25 years smoke cigarettes or bidis. Of the estimated 21.9 million smokers in Bangladesh, 21.2 million are males while 0.7 million are females. Hence, one can imagine the level of negative impact smokers have on the environment as a whole- especially when environment
In the international arena, the Freight Forwarders are practicing the international rules and norms abiding by the legal provisions of the country of origin concerned. In Bangladesh a good number of Freight Forwarders are also operating and contributing to the country's export-import business, with their valuable services and the freight forwarding business is governed by the Freight Forwarders (Licensing and Operations) Rules 2008. According to this law the Freight Forwarders need to apply for the license and after fulfilling the necessary provisions they get license from the National
Dhaka, the capital of Bangladesh, is one of the most densely populated cities in the world. The huge population has meant a huge influx of vehicles. However, the number of roads has not increased at the same rate as the population. With a collaboration between Bangladeshi Government and Japan International Co-operation Agency (JICA) a 20.1 kilometer long metro rail is going to be built to cater the need of the commuters. This will be known as the Mass Rapid Transit (MRT) line 6 and it will be the first and the most advanced mass transport system in Bangladesh. In this regard, the Metro Rail Act, 2015 (hereinafter referred to as “Act”) has been passed by the Parliament of Bangladesh with a view to ease the perplexity of traffic congestion and providing fast and reinforced public transport service in the capital
The ICT (Information and Communication Technology) Act 2006, a law designed to combat cybercrimes, was passed by the Bangladesh National Parliament on 8th October 2006 and under this Act, the provisions were counted as noncognizable and hence the police or the law enforcers could not arrest anyone without the prior approval from an authority or court and it further stipulated that the police cannot lodge any case for a non cognizable offence. Section 57, the most criticized provision of the 2006 Act stated that if any person deliberately publishes any material in electronic form
The increasing globalization has led to a massive growth in the number of foreign transactions in recent times. The foreign exchange market, globally, experiences transactions of trillions of dollars on daily basis. Foreign exchange transactions encompass many things, starting from billion-dollar payments made by business conglomerate, corporate giants and governments for goods and services purchased from overseas to the conversion of currencies by a traveler at an airport. Bangladesh inherited its Foreign Exchange Regulation Act 1947 (hereinafter referred to as
The Power of Attorney is a legal document that gives an individual the power to act on behalf of another person or another entity executing the power of attorney.
The new wave in laws relating to the power of attorney came in force when Power of Attorney Act, 2012 was enacted. Previously, the power of attorney could be executed in favour of an individual without being mandated by specific regulations or particular formats, but after the incorporation of the said Act, the scenario was