The rules say in addition to a central one-stop service centre at Bida, regional centres will be set up at divisional level
Bangladesh Investment Development Authority (Bida) has issued rules by bringing 26 facilities under its one-stop service to help investors save time and money by easing business and reduce sufferings.
The rules say industrial projects will get power connection in 28 days and gas connection in 30 days. Also, the whole process, including issuance of land clearance certificate and land use certificate after completion of construction, will be completed within 60 days.
The Prime Minister's Office has issued a notification, keeping such rules under the one-stop service act passed in 2018. The notification was issued in the form of a gazette on Sunday.
Bida officials hope this will help Bangladesh improve its position on the ease of doing business index in addition to easing the country's trade environment.
They said Bangladesh ranked 168th among 190 countries on the World Bank's Ease of Doing Business index. The one-stop service rules, if implemented correctly, will enable Bangladesh to climb down to a two-digit position, they added.
According to the rules, in addition to a central one-stop service centre at Bida, regional centres will be set up at divisional level. Those seeking service will have to apply online.
Trade licence, name clearance certificate for company registration, certificate of incorporation, certificate of commencement of business will be ensured in one day.
The Registrar of Joint Stock Companies and Firms will take three days to approve articles of association in company registration and memorandum of association, and to increase approved capital. But seven days will be required for share transfer, amendment to memorandum or articles of association, and changing director.
One day will be needed for land purchase documents, lease agreement registration, and land-related power of attorney registration while it will be three days for supplying a copy of registered deed.
Of its own services that Bida offers, it will take one day for industry registration, resident and non-resident visa, on-arrival visa recommendation for industry, resident and non-resident visa recommendation at commercial level, recommendation for import permit, giving import certificate for capital-based machinery, recommendation for controlled product import, and correcting registration certificate. Bangladesh embassies will give visas of different classes in seven days for Bida's recommendation and permission for giving foreign remittance. Three days will be required for giving new work permits and renewing those in industry. Also, Bida will take 10 days for recommending import registration certificate in industry, 15 days for permission for branch, liaison and commercial office setup, and 16 days for new work permit certificate and its renewal in commercial organisations.
The immigration and passport department will take seven days for extending visas of different categories, and changing visa category. There is a 21-day time limit for police's special branch report submission, and it is 30 days for security clearance from the special branch and the national security intelligence. But the home ministry will issue clearance for visa or work permit renewal three days after getting report.
The Office of Chief Controller of Imports and Exports will take three days for industry import registration certificate, permission for sample import and export, and import permission for controlled products. For final land acquisition approval, Bida will take one day, deputy commissioner's office 90 days and land ministry 60 days.
The environment department will take seven days for issuing environment and site clearance for green category establishments, 22 days for orange-A category, 41 days for orange-B category and 105 days for red category. For renewing environment clearance certificate, seven days will be needed for green and orange-A category, 20 days for orange-B category, and 30 days for red category.
Fifteen days will be needed for land use clearance for building construction and special project clearance, three days for on-spot inspection, 20 days for building construction approval, and seven days for certificate for living or using the building.
Five days will be needed for technical investigation and survey for power connection, 10 days for load allocation, two days for issuing demand note, four days for depositing money, and seven days for metre supply and connection. Seven days will be needed for water connection and drainage system, and three days for telephone and internet connection.
Thirty days will be needed for fire safety plan approval, 21 days for fire safety licence approval, and 15 days for licence renewal. The explosives department will take 21 days for issuing and renewing explosives licence.
The Department of Inspection for Factories and Establishment will take 15 days for licence of factory, 10 days for machinery and layout plan approval, and 10 days for licence renewal and correction.
The Office of the Chief Inspector of Boiler will take three days for boiler import no-objection certificate, 14 days for boiler registration and certificate issuance, 21 days for boiler certificate renewal and 15 days for change of ownership.
The revenue board will take one day for tax identification number registration, VAT registration, and business identification number and customs-related clearance. It will take 15 days for bond licence issuance and tariff refund.
The central bank will take 15 days for giving permission for taking term loan in foreign currency from offshore banking unit in private industry projects registered with Bida. Also, it will take 10 days for informing of issuing or handing over shares from resident to non-resident, non-resident to resident and non-resident to non-resident in companies not registered with the stock market, seven days for profit and dividend repatriation and seven days for permission for sending consultancy fee that excludes general authority.
The Bangladesh Bank will take 15 days for permission of sale of shares of non-listed companies owned by non-residents to residents or repatriation of remaining money abroad on proportional basis in case of company dissolution.