ToR of ‘Solar Power Generation Feasibility and Transaction Advisor, Package No.: PMC-9-BSMSN-BEZA=::=Specific Procurement Notice of WD-2-BSMSN-BEZA for Road and Storm Water Network for Mirsarai-2B EZ
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FAQs

Ans: You may set up business in the Processing area of any Economic Zone under the organizational structure of a Private Limited Company, Public Limited Company or Unit of a limited Company. But in the case of Non-processing area or Commercial area of any Economic Zone you may have several organizational structures known as Single Proprietorship, Partnership, Limited Company, Branch Office, Representative Office and Regional Office.
Ans: 100% ownership: Investment Policy of Bangladesh liberalizes ownership of investment by any national in any enterprise except enterprises with activities listed on the ‘reserve list’ which are prohibited for both foreign and Bangladeshi nationals. The reserve list includes:
  1. Arms and ammunitions and other military equipment and machineries;
  2. Nuclear power;
  3. Security printing and minting; and
  4. Afforestation and Mechanized Extraction within the boundary of reserved forest.
Ans: The Foreign Private Investment (Promotion and Protection) Act, 1980 provides fair and equitable treatment to foreign private investment which shall enjoy full protection and security in Bangladesh.
Ans: The terms of sanction, permission or license granted by government to an industrial undertaking having foreign private investment shall not be unilaterally changed so as to adversely alter the conditions under which the establishment of such undertaking was sanctioned; nor shall foreign private investment be accorded a less favorable treatment than what is accorded to similar private investment by the citizens of Bangladesh in the application relevant rules and regulations.
Ans: In the event of losses of foreign investment owing to civil commotion, insurrection, or riot, foreign private investment shall be accorded the same treatment with regard to indemnification, compensation, restitution, or other settlement as is accorded to investments by the citizens of Bangladesh.
Ans: Foreign Private Investment shall not be expropriated or nationalized or be subject to any measures having effect of expropriation or nationalization except for a public purpose against adequate compensation which shall be paid expeditiously and be free transferable.
Ans: In respect of foreign private investment, the transfer of capital and the returns from it and, in the event of liquidation of industrial undertaking have such investment, of the proceeds from such liquidation is guaranteed.
  1. Trade license – All business organizational structure need to get Trade License from the concerned City Corporation/ Municipal Corporation/ Union Council office under which jurisdiction the business entity or the EZ is located. They may apply through BEZA’s One Stop Service cell to get the Trade License, the later will expedite the process of getting the document.
  2. Limited Company and Partnership Firm will apply to the Registrar of Joint Stock Companies and Firms for obtaining Certificate of Incorporation/ partnership Registration Certificate (as the case is applicable).
  3. All Single proprietorship, Partnership, Limited Company, Branch office, representative office, regional office need to obtain project clearance/ registration of business from BEZA.
Ans: All industrial processing unit need to obtain Environmental Impact Assessment (EIA) from the Department of Environment before starting construction of industry.
Ans: Yes, the business unit need to obtain Tax Identification Number (TIN), Value Added Tax (VAT) Registration Number before starting the business, In this case BEZA will facilitate in getting the above certification under OSS.
Ans: To qualify for incentives, the company or firm must register with BEZA, but prior to that the investors need to obtain Certificate of Incorporation/ Partnership registration, TIN, VAT Registration and Environment clearance.
Ans: VISA Categories for entering into Bangladesh to do business:
  1. A-3 – Foreign citizen as per agreement signed in between the Government of Bangladesh and the Development Agency;
  2. FA3 – Family members of A-3 Visa holder;
  3. B – Business purpose travel;
  4. PI – Travel by prospective investor;
  5. FPI – Family members of PI Visa holder;
  6. E – Employment of foreign technician;
  7. FE – Family members of E Visa holder;
  8. E1 – To train local people/ supervise in regard to supply/ installation/maintenance of machineries and software.
Ans: Application along with necessary papers must be submitted to the Executive Chairman, BEZA. After due scrutiny BEZA will recommend to the Embassy or High Commission of Bangladesh in the respective countries to issue desired VISA.
Ans: The nationals of any country not having Diplomatic Mission of Bangladesh will have to obtain “VISA On Arrival”. On getting application from foreign nationals BEZA will recommend to respective Airport or Land Port to issue “Visa on Arrival”.
Ans: Every industrial unit located inside Economic Zone(s) must obtain Work Permit before employing any foreign national. To get Work Permit the following criteria are needed to be fulfilled:
  1. Before applying for Work Permit the concerned person upon recommendation of BEZA need to obtain specific category of VISA;
  2. Work Permit will be discouraged unless the incumbent is a person of specialized knowledge and skill which is not commonly available in Bangladesh;
  3. Before processing the appointment of foreign nationals, the EZ unit shall have to try to appoint local people of same expertise through advertisement in the national dailies;
  4. Work Permit will be issued only to the foreign nationals who have obtained PI Visa and E Visa.
  5. Work permit will be issued initially for one year. On satisfactory performance this can be extended for four years.
Ans: Any foreign national will be eligible for “NO VISA REQUIRED” permission by investing minimum USD 5.00 (Five) million in any heavy industry or long term business in Bangladesh.
Ans: With prior recommendation from BEZA, EZ foreign investor/ shareholder will be entitled to use Airport VIP Lounge.

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