In Bangladesh it is very straightforward to start a proprietorship business. A sole proprietorship also referred to as a sole trader or a proprietorship, is an unincorporated business that has just one owner who pays personal income tax on profits earned from the business.
Note: This option is not open for foreign investors looking to start business in Dhaka or Bangladesh.
The procedure for starting a proprietorship business is outlined below:
1. Choose a Name for the business in Bangladesh
2. Rent a commercial space for starting the business
3. Fill out the trade license application form from your local government/city corporation/union etc.
4. Apply and obtain a trade license
5. Apply for e-tin certificate
6. Open a Bank Account in the name of the business
That's it! You are all set to start your new business.