Bank Account Services for Businesses in Bangladesh

Bank account services matter because a Bangladeshi business cannot do much without a working account: paying share capital, receiving customer payments, deducting and depositing TDS and VAT, running payroll and paying suppliers. Banks apply strict know-your-customer checks under anti-money laundering rules, and an application that is missing a board resolution or an attested passport copy simply waits.

We prepare and organise the documents, coordinate with the bank's relationship and compliance teams, and keep the account aligned with your RJSC and tax records over time. We do not operate accounts, hold client funds or act as a bank; you choose the bank and sign the forms, and the bank makes its own decision.

Who needs bank account services?

• Newly incorporated private limited companies opening their first current account
• Foreign-owned companies that must receive share capital from abroad through banking channels
• Branch and liaison offices of foreign companies after BIDA permission
• Partnership firms, sole proprietors with trade licences, trusts, societies and NGOs
• Companies changing directors or signatories, or consolidating accounts across banks
• Non-resident shareholders who need dividend or repatriation-ready account structures

Typical documents for a company bank account

Exact lists vary by bank, but a private limited company should expect to provide most of the following.

• Certificate of Incorporation, Memorandum and Articles of Association, Form XII and Schedule X from RJSC
• Board resolution authorising account opening and naming signatories and their operating rules
• Company e-TIN certificate, and trade licence; BIN where the business is VAT registered
• NID or passport copies, photographs and personal e-TIN of directors and signatories
• Proof of business address, such as tenancy agreement or utility bill
• For foreign directors or shareholders: passport copies, and documents notarised or apostilled or attested as the bank requires

Foreign investors: share capital and encashment

Foreign equity in a Bangladeshi company is normally remitted from abroad through a scheduled bank into the company's account, and the bank issues an encashment certificate confirming the foreign currency was converted. That certificate is the evidence of foreign investment you will need later for BIDA records, Bangladesh Bank reporting, and eventually for repatriating dividends or sale proceeds under the Foreign Exchange Regulation Act 1947 and Bangladesh Bank's Guidelines for Foreign Exchange Transactions.

Branch and liaison offices follow a separate route: the bank will usually ask for the BIDA permission letter before opening the account, and inward remittances for office expenses must follow the conditions in that permission.

Keeping accounts compliant after opening

• Update signatories promptly when directors resign or join, with matching RJSC Form XII filings
• Refresh KYC when the bank requests it, especially after shareholding changes
• Use the account for business receipts so turnover matches VAT returns and income tax filings
• Keep bank statements and reconciliations ready for audit and NBR review
• Close dormant accounts formally rather than leaving them unused

Common reasons account opening is delayed

• Board resolution wording that does not match the bank's mandate format
• Foreign documents not attested or notarised in the form the bank needs
• Mismatched names or addresses across RJSC, e-TIN and trade licence
• Beneficial ownership not clearly explained for layered or foreign shareholders
• Signatories unable to attend in person when the bank requires it

How the process works

1. Assess the structureWe review your entity type, ownership and banking needs, and shortlist banks suited to foreign currency or sector requirements.
2. Prepare documentsWe draft board resolutions and assemble the KYC file, checking that names and addresses match across records.
3. Coordinate with the bankWe liaise with the relationship manager and respond to compliance queries on your behalf where permitted.
4. Account activationSignatories complete the bank's own verification, and the account is activated by the bank.
5. Capital and ongoing upkeepWe track inward capital remittances, encashment certificates and later signatory or KYC updates.

Typical timeline: Account opening for a local company typically takes one to three weeks once documents are complete; foreign-owned entities and branch or liaison offices often take longer, depending on document attestation and the bank's compliance review.

How Tax & VAT Associates helps

• Bank-ready KYC document file and board resolution drafts
• Checklist tailored to your entity type and the bank you choose
• Coordination of foreign share capital remittance and encashment certificate records
• Signatory change packs aligned with RJSC filings
• Support with bank KYC refresh requests and account closures
• Advice on keeping banking records consistent with VAT and income tax returns

Frequently asked questions

Related services

Last reviewed: 6 October 2026. Bangladesh tax and regulatory rules change with each Finance Act, SRO and authority circular. This page is general guidance; confirm current requirements for your case before filing.