Applications for business registration, various approvals, clearances and other government services required for doing business will have to be processed within a maximum of one week. If the relevant government agency fails to provide a decision or clearance within the stipulated timeframe, the application will automatically be deemed approved.
The government is set to introduce a range of such initiatives in the upcoming 2026–27 fiscal year to boost private and foreign investment and simplify the process of doing business in the country. Finance Minister Amir Khasru Mahmud Chowdhury shared this information while presenting the budget in the National Parliament yesterday, Thursday.
In his budget speech, the finance minister stated that the government has taken steps to make the private sector more dynamic, aiming to ease doing business, increase domestic and foreign investment, and diversify export products. To achieve this, he noted that the time, cost, uncertainty, and bureaucratic complexities associated with business and investment services will be reduced.
The finance minister further added that this deregulation process does not mean the abolition of any necessary laws, rules, or regulatory frameworks; rather, the processes will be simplified and made corruption-free while keeping public interest, the environment, and investors' rights intact. Verification processes will be carried out within specific timeframes using technology under clear guidelines.
Company registration within 48 hrs
Amir Khasru Mahmud Chowdhury said company name clearance, registration applications, fee payments and the issuance of certificates will be completed entirely online, allowing company registration to be completed within a maximum of 48 hours.
An online-based preliminary approval system will be introduced for small and new businesses, enabling entrepreneurs to start operations quickly and complete the remaining registration requirements within six to twelve months. In addition, trade licence services provided by city corporations and municipalities will gradually be integrated into a centralised service system to make doing business easier at the local level.
The finance minister said work permits for foreign experts and skilled professionals will be issued within a maximum of seven days, while visas for investors and project-related personnel will be granted within ten days. The government will also introduce five-year multiple-entry visas for eligible investors. Applications and verification processes for security clearances for foreign employees will also be brought under an online system with fixed deadlines.
Integrated industrial facilities
The government plans to introduce “plug-and-play” integrated industrial facilities in selected industrial and economic zones, Amir Khasru Mahmud Chowdhury said. Under this arrangement, land, infrastructure, electricity, gas, water, road connectivity and primary approvals will be prepared in advance in an integrated manner.
As a result, entrepreneurs will be able to establish factories and begin production quickly once they receive land allocations. The finance minister also announced plans to expand bilateral investment treaties and update double taxation avoidance agreements to strengthen legal protection for investors and enhance international confidence.
End to sole authority of tax officials
In his budget speech, the finance minister announced a suite of reforms and deregulation initiatives aimed at easing business by modernising the country's tax, VAT, customs duty, bond, and banking systems. He stated that the proposed budget suggests abolishing the unilateral powers of tax officials, reducing tax and VAT appeal fees, and permitting the use of private laboratories alongside state facilities to ease product congestion at customs.
The finance minister added that the requirement for 100 per cent export-oriented ready-made garment factories to undergo annual bond audits is being lifted.
Alongside individual taxpayers, arrangements are being made from the upcoming fiscal year for corporate taxpayers to submit their corporate income tax returns online, the finance minister noted.
He added that filing returns early in the year will yield special tax incentives. Furthermore, submitting VAT (Value Added Tax) returns online through the 'e-VAT' system is being made mandatory from the start of the next fiscal year. A simplified and separate VAT return form is also being introduced for small VAT-payers.
Profit repatriation facilities extended
The finance minister announced that a maximum 30-day deadline is being set to resolve applications for the repatriation of legitimate profits and capital by foreign investors. He added that for unlisted companies, valuation reports will not be required for transactions up to Tk 10 million (1 crore), and capital up to Tk 1 billion (100 crore) can be repatriated to their home countries without prior approval from the Bangladesh Bank.
Digital 'e-loans' up to Tk 50,000
In his budget speech, the finance minister also mentioned the launch of instant micro-loans via digital means or 'e-loans', increasing the loan limit for eco-friendly vehicles, shortening the share settlement time in the capital market, and launching the country's first commodity exchange.
Under the digital 'e-loan' system, customers will be able to access micro-loans of up to Tk 50,000 in a completely digital manner without any bureaucratic complexities. The Initial Public Offering (IPO) process is also being made entirely online and technology-driven. Amir Khasru Mahmud Chowdhury said, “We will form a high-level task force to implement these deregulation activities swiftly and smoothly.”