Examining Real-Estate Business in Bangladesh

How to Establish a Real Estate Business in Bangladesh

Establishing a real estate business in Bangladesh can be a lucrative venture, as the country is experiencing significant economic growth and urbanization. To set up a successful real estate business in Bangladesh, you need to follow several essential steps.

Firstly, you need to register your company with the Registrar of Joint Stock Companies and Firms (RJSC) and obtain a trade license from the local municipality. You should also obtain clearance certificates from the Bangladesh Investment Development Authority (BIDA) and the Bangladesh Bank.

Secondly, you need to identify a suitable location to operate your real estate business. You should consider factors such as accessibility, infrastructure, and demand for properties in the area.

Thirdly, you need to build a team of professionals to assist you with the business operations. This may include real estate agents, lawyers, architects, and contractors.

Fourthly, you need to develop a marketing strategy to attract potential customers. This may involve creating a website, promoting your properties through social media, and advertising in local newspapers and magazines.

Finally, you need to ensure that your business complies with all legal and regulatory requirements. You should also have a solid financial plan in place to manage cash flow and ensure the profitability of your business.

Registration and Licensing Process of Real Estate Business Setup

The registration and licensing process for a real estate business can vary depending on the country or state in which the business operates. However, in general, the following steps may be involved:

1. Determine the legal structure: Before registering your real estate business, you must first decide on its legal structure. This could be a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each type of legal structure has its own advantages and disadvantages, so it’s important to consult with a lawyer or accountant to determine which one is best for your business.
2. Obtain a business name: Your real estate business will need a unique name that isn’t already in use. You may need to conduct a search of the business name registry to ensure that your desired name is available.
3. Register your business: You’ll need to register your business with the appropriate government agency in your jurisdiction. This may involve filling out paperwork and paying a registration fee.
4. Obtain a real estate license: In most countries, individuals who sell or lease real estate must hold a real estate license. This typically involves completing a pre-licensing course, passing an exam, and submitting an application with the relevant licensing authority. The requirements for obtaining a real estate license can vary by jurisdiction, so it’s important to check with your local licensing authority for specific requirements.
5. Obtain additional licenses: Depending on the services your real estate business offers, you may need to obtain additional licenses or certifications. For example, if you offer property management services, you may need to hold a property management license.

Taxation Fact of Real-Estate Business

The taxation of a real estate business can vary depending on the country and state in which the business operates. Real estate businesses are subject to various taxes, including income tax, property tax, capital gains tax, GST or VAT, stamp duty, and transfer taxes. Income tax is calculated as revenue minus deductible expenses, including property taxes, mortgage interest, repairs and maintenance, and depreciation.

Property tax is calculated based on the value of the property, and capital gains tax is applicable if a property is sold for a profit. GST or VAT may be collected on the sale of properties or on rental income.

Stamp duty and transfer taxes are levied on the transfer of property ownership, and they are typically calculated as a percentage of the property’s value and are paid by the buyer or seller, depending on the jurisdiction. Real estate businesses should consult with tax professionals to ensure compliance with all relevant tax laws and regulations and to keep accurate records of their income and expenses.

Examining Real Estate Business In Bangladesh

Bangladesh is a developing country. Just like several other nations in the world, most major businesses has its center at the capital city. In our case it is the Dhaka city. Nowadays Dhaka is an overpopulated city. That is the main reason for the growth of the real-estate business because people need more house for living. “More than 260 companies are working or doing business in Dhaka(According to REHAB 2004)Real Estate & Housing Association of Bangladesh”. So it is proof that real estate business is a rapidly growing venture in Bangladesh.

The great thing about buying a vacant land is that, the land will remain in the same condition in which you bought many years ago. The weather and maybe erosion might have some impact, but generally, over the long term, vacant lands tend to bring great fortune in the market.

If purchased in the right process, your land can see some significant valuations. This usually happens when the land is in an desirable location. However, sometime, the area around it goes through better transformations and becomes a far more desirable place to live in. This is especially true in areas where major growth center have been established. And have fallen in any category of residential areas, which can lead to price hikes overnight.

We have a team of professional project manager to conduct real-estate business in Dhaka, Bangladesh. They undertakes all categories of client’s properties at a bearable price. We also manages real estate properties for companies and home owners who are based in other parts of the world. Moreover, we serve our clients with property acquisitions, legal supports, facilities and many other important services.

Here realestates.com.bd provides best in class real-estate business services that does all for our clients starting from renting, management, maintenance and repairs to paralegal services dealing with the Tenant Protection Act , in Dhaka, Bangladesh.

Conclusion

For more information on our real estate business services please check our property services in this website. You can also call or email our professional property Management team today. You have nothing to lose in receiving our useful consultation which is absolutely free. Let us take the worry out of managing your property investment.