A proprietorship concern is a business that is owned and operated by a single individual. It is the simplest and most common form of business entity in Bangladesh.
Advantages of Proprietorship Concern
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- Easy to establish and maintain
- Low cost of establishment
- Complete control over the business
- No separate legal entity
Disadvantages of Proprietorship Concern
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- Unlimited liability
- Difficult to raise capital
- Limited life of the business
Required Documents for Opening a Trade License for a Proprietorship Concern
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- National ID card of the proprietor
- Recent passport size photo of the proprietor
- Trade license application form
- Rent receipt or premises ownership proof
- Holding tax payment receipt
- Declaration on non-judicial stamp to abide by the rules and regulations of City Corporation/Municipality/Union Parishad
- Copy of Bank Solvency Certificate of the proprietor
- TIN Certificate
Additional Services Offered by Right Solutions
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- Advice on the establishment and operation of a proprietorship concern
- Preparation of all necessary trade license application documents
- Submission of trade license application documents to the relevant government authorities
- Follow-up with the government authorities to ensure that the trade license is issued promptly
- Assistance with other aspects of proprietorship concern establishment, such as bank account opening and tax registration
If you are interested in establishing a proprietorship concern in Bangladesh, contact ASM & ASSOCIATE today to learn more about our services. We can help you navigate the process smoothly and efficiently, so you can get back to focusing on what you do best: running your business.