Procedure to open Account of a Foreign Company:

During opening of a account of a foreign company in Bangladesh we need to maintain following procedure:

• The organization must have the authority to do business in abroad
• Board resolution mentioning the person authorized to operate the said account
• Power of attorney of the authorized person which needs to be authenticated by the Embassy in Bangladesh
• List of Directors of the company
  
• Memorandum & Article of Association with a certificate of Incorporation registered in abroad
• Permission of Board of Investment (BOI)
• Permission of Bangladesh Bank/other regulatory bodies may be required if it is mentioned in the permission of BOI
• Certificate of TIN & VAT Registration or a waiver in this regard
  
• Transaction Profile to be filled mentioning the numbers of transaction will be made to this account on monthly basis

It has be kept in mind that the KYC guideline to be maintained during opening of the account as well.