Why Investors Are Taking Interest in Company Incorporate in Bhutan?
Bhutan’s economy and GDP growth rate have managed to make strides. Therefore, as a member of the South Asian Association for Regional Corporation, or SAARC, Bhutan’s economy is getting the boost it needs to keep growing. Bhutan has a free trade agreement with India which allows the transit of imports and exports to Bhutan through India. Hence, all these continue to attract many multinationals for company incorporate in Bhutan.
Requirements for Company Incorporate in Bhutan
To register a business in Bhutan, investors have to fulfil specific requirements. Our equipped team at 3E Accounting Indonesia will help you qualify for the same.
- Complete a registration form with company name, registered office address, details of directors and staff, etc.
- They should submit the promoter’s original citizenship identity card to the Company Registry Division. Investors need to submit application and documents for registration of a company under the Companies Act of the Kingdom of Bhutan.
- An investor seeking to register a business in Bhutan can register or incorporate an enterprise if the capital of investment is in the currency of USD.
- The first directors should duly sign the consent to act as Directors of the company
- The concerned sector and Industrial license number will release sectoral clearance.
How to Incorporate Company in Bhutan?
To incorporate a company in Bhutan, the registration of the company name is the first step. They also don’t allow the investor to use an existing company name.
Once the company name has been confirmed with the approval to go ahead, the rest of the steps to register in Bhutan where we will help are as follows:
- Security Clearance Certificate, or SCC, must get from the Royal Bhutan Police
- The business proposal to be submitted to the Industrial Department Division (IDD) of the Ministry of Economic Affairs
- Then, you can obtain a business license from the Regional Trade and Industry Office of the Ministry of Economic Affairs
- Formulate the official company seal because all companies must have a seal within one year of the company incorporate in Bhutan
- Open a local bank account for the business. The bank account needs to be solely for business purposes
- Overseas employment rules vary based on the size of the enterprise; for example, two foreigners shall be engaged if investment sum is below US Dollar one million, if investment capital is more than US Dollar five million, a five-person power can be higher
- Ensure company Name, Address, MOA, Paper’s notary, Trade authorization, VAT (Value added tax) and other permissions are in place
- Applying for obtaining documents for work permit and trade visa as the law of Bhutan
Get in Touch With Us
Registering a company in Bhutan is not as more comfortable as other countries and hence been ranked 142nd for ease of doing business by the world bank. Our efficient team at 3E Accounting Indonesia understands the pressures of setting up shop in a different environment.
Our experts help investors ease down the process of transition. They also assist in the process of incorporation to marketing as well as taxation. Our end-to-end services act as an advantage and will help you concentrate on your business activities while we do the rest for you. Then, Contact us now.