The new companies would now be able to register their entities with the Office of the Registrar of Joint Stock Companies and Firms (RJSC) within 24 hours as the process with key services goes online today (Monday).
The new service styled 'Single Process Registration' offers the application of registration, name clearance (NC) and payment of fees.
Once the service starts, anyone can register a company within 24 hours subject to the submission of required papers and documents, deputy registrar Abu Essa Mohd. Mostafa Bhuiyan told the FE.
Earlier, the NC was a prerequisite for registration of a new entity, except for the foreign companies and partnership firms, and the promoters had to submit NC application to the designated office of the RJSC through its website.
The promoters used to pay the NC application fee to the designated banks and on the receipt of an NC application and fees, the RJSC puts name clearance seal for the new entity upon satisfaction that it does not closely match or resembles with any of the existing names, which are registered, booked or under the process of registration of the same entity type.
The NC remains valid for 30 days (society 180 days) from the date of its issuance. Then, the promoters need to apply for registration of the name within the validity.
"This entire NC process is eliminated now, said Mr Bhuiyan.
Now, an applicant can choose a company name and check the RJSC database. If the name is not taken yet, it can be selected for the new entity, he added.
He further said that the applicant can now apply by filling up an online form after taking a name, attach the scanned copies of all necessary documents and pay the fees online. Fees can be paid through MasterCard, Visa Card or Amex Card.
"This is simple and easy," he said, adding that the RJSC is doing so to meet the requirement of easing the process to do business.
