How To Renew Your Trade License?

[Maliha Islam]

How To Renew Your Trade License?

We regularly receive queries about trade license and trade license renewal procedure. This is normal because any regulatory issue is a lengthy process in Bangladesh. Things have improved in recent years but it is yet to get to the level we need it. We still need to bribe for getting licenses, we still need to go through someone insider and so on. However, knowing basics helps.

Trade License renewal is simple. You submit few documents and pay a fee and you are done. However, in reality is not as simple as that. Below is a list of required documents and other tidbits. We hope this will make things a little easier for you. 

Required Documents [Commercial Firms]

1. License book: Provided at the time of issuance of Trade License
2. Chalan Book: Same as before
3. Rent Receipt or Ownership proof: A copy of original attested by first class gazetted officer
4. TIN Certificate: A copy of original attested by first class gazetted officer

Process
Submit all required documents and then deposit the scheduled fees at the designated bank. City Corporation/Municipality receives the fee receipt from designated bank and update the register.

Time
Officially, it should not take more than 1-2 working days. However, it often takes longer than that.

Fees
Depending on the nature of business, fees can ranges from BDT 100.00 to 20,000.00. For limited company license fee is determined on the basis of paid up capital. You can collect the information from City Corporation/Municipality/Union Parishad.

Source:https://futurestartup.com/2015/09/14/trade-license-renewal-process-in-bangladesh/