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Registering a Company in Bhutan Without Any Hassle
Why Should You Consider Registering a Company in Bhutan?
Starting a company in Bhutan while you are away from the place physically can be troublesome but with local services, registering a company in Bhutan can be quite easier. Bhutan is a positive economic country which can yield good business profits. Many multinationals are registering a company in Bhutan to promote their business.
How Can You Register a Company in Bhutan?
Registering a company in Bhutan is easy under the Ministry of Trade and Industry, and it can be registered using the following steps:
1. Choose a unique company name and register for the same.
2. Select the business entity which suits your requirement. The common business entities of Bhutan are Private limited company, Joint venture, and branch office.
3. Obtain a security clearance certificate from Bhutan’s police
4. Register the company in Bhutan at the Office of Registrar
5. Obtain a business license from Regional Trade and Industry office
6. Obtain a unique BIC number
7. Order for a company seal
8. Open a local bank account
9. Apply for work permit and trade visa with relevant authorities as per law of Bhutan.
Registering a company in Bhutan is a simple process and can be completed within 4 weeks. The tax for corporates is around 30% on average, and the businesses can enjoy up to 3 years of holidays on certain products.
Other Information for Registering a Company in Bhutan
The foreign investors must be aware of the following information before registering a company in Bhutan:
1. The top investment sectors for massive earnings are: Electronic products, Oranges, Clothes, Animal goods, Minerals, and Food items
2. One of the important steps for registering a company in Bhutan requires a signature on forms by sponsors.
3. The fees for registering a company in Bhutan is not fixed
4. Before setting up a company in Bhutan, you need to manage a license, have a citizenship
identity and clearance from different government authorities for smooth operations
Although the process of registering a company in Bhutan is easy, setting up a branch office may take more than 6 weeks to complete the set-up process. The branch offices which are set up in free zone area are exempted from tax, and the power of authority of branch office is given to a local resident who takes the liabilities of the business. To complete the set up of the branch office in Bhutan, the approval papers of the parent company must be attested by the embassy.
Bhutan’s economy is growing fast, and there are various sectors for investment to reap good business profits.
To successfully set up a company in Bhutan, you will obviously need professional help. If you plan to open a company in Bhutan, please contact us, 3E Accounting will provide the best quality service at the most affordable price.
