Entity Dissolution in Bangladesh
Liquidation/Winding up/Dissolution is the legal procedure that brings the existence of an entity to an end. Our comprehensive, end-to-end solutions assist you to undertake dissolution of a legal entity in Bangladesh by adopting a strategic approach which enables our clients to maintain compliance with all prevailing regulations and navigate throughout the entire process of entity dissolution.
As a trusted entity dissolution partner to our clients, ACE Advisory enables local and international businesses to liquidate entities reliably and compliantly in Bangladesh.
Helping you dissolute an entity in Bangladesh
Our integrated solutions help our clients to successfully liquidate their entities, cancel their registrations with different regulators in Bangladesh, close their bank account(s) and distribute/repatriate residual funds to the shareholders.
Private Limited Company
Under the provisions of the Companies Act, 1994, there are three modes of winding up a company in Bangladesh. The winding up of a company may either be:
There are two types of voluntary winding up:
Private Limited Company
Companies which are solvent enough to settle their debts within 3 (three) years of the commencement of liquidation are eligible to opt for a Members’ Voluntary Winding up. The process goes in the chronological order as follows:
Compliance Health-Check
The most important issue before going into dissolution is to make sure that the compliance under different regulators are up to date as otherwise the process of liquidation gets delayed significantly. We offer clients a comprehensive health- check before liquidation to point out all non-compliances.
Catch-up Compliance
Our expert compliance team can walk you through the requisite activities based on the result of compliance health-check and help you iron out all non-compliances
accordingly.
Pre-Liquidation Proceedings
Once compliance is brought up to date, the process of liquidation can officially begin. Our liquidation team can help you prepare and submit necessary documents to kick things off and enter liquidation.
Liquidator Appointment
The appointment of liquidator in a general meeting of the shareholders denote the official commencement of
liquidation. In addition to the necessary paperwork, we can help you with the appointment of liquidator as well.
Liquidation Proceedings
The liquidator takes necessary actions to realize or sell the assets of the company and use the proceeds to settle all its debts.
Cancellation of Registration(s), Closure of Bank Account(s) and Distribution/Repatriation of Funds
After the liquidation is over, we can help you cancel registration with all other regulators as well as close the local bank accounts of the company upon distributing / repatriating
the residual funds.
Branch Office
The process of branch office closure is simpler in comparison to that of a limited liability company and it goes in the chronological order as follows:
Compliance Health-Check
The most important issue before going into dissolution is to make sure that the compliance under different regulators are up to date as otherwise the process of liquidation gets delayed significantly. We offer clients a comprehensive health- check before liquidation to point out all non-compliances.
Catch-up Compliance
Our expert compliance team can walk you through the requisite activities based on the result of compliance health-check and help you iron out all non-compliances
accordingly.
Pre-Liquidation Proceedings
Once compliance is brought up to date, the process of liquidation can officially begin. Our liquidation team can help you prepare and submit necessary documents to kick things off and enter liquidation.
Liquidation
The board approval from the parent company for closure of branch office
denotes the commencement of liquidation process. Our liquidation team can help you undertake all necessary compliance
activities during this step.
BIDA Approval
After undertaking the liquidation activities, all necessary supporting documents need to be submitted to BIDA. Upon reviewing all documents, BIDA issues their approval on the closure of branch office.
Cancellation of Registration(s), Closure of Bank Account(s) and Distribution/Repatriation of Funds
After the liquidation is over, we can help you cancel registration with all other regulators as well as close the local bank account(s) of the Branch office upon distributing / repatriating the residual funds.
Trusted by Many!
"ACE Advisory as a company and its founders are proficient in their work and overall approach. We have had a good relationship with them so far for our consultancy work, accounting services, tax filings, compliances. The most important aspect of the company being they go beyond the written word in the scope by supporting their clients/partners in their emergencies too."
"ACE Advisory was instrumental in establishing our back-office operations in Bangladesh and they continue to provide quality and efficient outsourced finance, accounting, payroll and tax services to us. Their insights helped us rollout a SAP localization in under 3 months and they assume a high level of responsibility for client work, compliance, and filings."
"Critical issues surrounding our entity setup in Bangladesh was resolved smoothly and quickly by ACE Advisory. We have since engaged them for complete back office outsourced services and find their service and support to be professional and of the highest quality at all times. Management does not hesitate to provide services beyond the written scope of work."
"The advice and support provided by ACE has significantly contributed to establishing our business in Bangladesh. We experienced them as proactive and professional business and tax advisors helping us to structure our operations in an efficient manner."
"ACE Advisory’s PEO (PEO is the technical term we use for outsourced employee services where we hire on your behalf) and HR services enabled the rollout of our Bangladesh operations in under a month. Since then and over the last 4 years, ACE Advisory has proven a trusted local partner providing the unparalleled fiduciary services."
"ACE advisory has helped us considerably with the local accounting and financial compliance in Bangladesh. We are pleased with their support on different challenges we faced and with their quality of work."
"ACE Advisory is a reliable consulting firm, and we highly recommend it. ACE Advisory provides professional service at a reasonable fee, and I do appreciate their quick and flexible response to my detailed questions, it enables me to satisfy the requirements of our head office in Japan."
"ACE Advisory is our go to firm for tax advisory work for mutual clients. The partners are highly attuned to the needs of MNCs and foreign investors and are very good at providing quick and reliable advice."
"ACE advisory's quality of service has been remarkable. We sincerely appreciate the level of detail and accountability ACE demonstrated in our engagement"
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© 2024 ACE Advisory. All Rights Reserved.