RJSC to Register Companies Within Hours Under New System

The government has taken an initiative to reduce delays and bureaucratic dependence in company registration by making the entire process online. The Registrar of Joint Stock Companies and Firms (RJSC) is set to introduce an Electronic Business Registration System (EBRS) modelled on Singapore’s fast and efficient business registration system.

Once fully operational, the new system will allow entrepreneurs to complete all procedures—from name clearance to final company registration—from home. Initially, the government aims to complete the registration of a new company within a few hours through prompt verification by officials.

The progress of the new system was presented at a meeting on modernising RJSC operations held at the conference room of the Ministry of Commerce on Monday. Commerce Minister Khandaker Abdul Muktadir attended the meeting as the chief guest, while Commerce Secretary Md Ataur Rahman Khan chaired it.

The commerce minister said applicants would no longer need to visit RJSC offices to register a company. The organisation’s operations will be fully automated to allow registration to be completed from home within a short time.

Under the new EBRS, entrepreneurs will be able to apply for company registration online at any time. To ensure the accuracy of application information and prevent fraud, the system will enable instant pre-verification of national identity cards, e-TINs and mobile phone numbers. This will help identify incorrect or inconsistent information quickly.

The government is also working to simplify the legal process for forming a company. Entrepreneurs will have three options for the memorandum and articles of association: a standard Model Memorandum and Articles of Association, a Customisable Memorandum and Articles of Association allowing additional clauses according to business needs, and a pre-approved Pre-approved Memorandum and Articles of Association.

Officials expect that greater use of the model and pre-approved documents will significantly reduce the time required for verification and approval.

The Department of Computer Science and Engineering at Bangladesh University of Engineering and Technology (BUET) has been engaged as a consultant to ensure the technical security, reliability and quality of EBRS. A team of BUET experts is monitoring different stages of software development and providing necessary technical guidance.

The user acceptance testing of the software’s registration module has already been completed successfully. Necessary modifications based on user feedback are also nearing completion.

Direct links with government databases

To fully automate the process, EBRS is being connected to the databases of several key government agencies. Work is nearing completion to establish links with the Bangladesh Election Commission for verifying voter and NID information, the Bangladesh Telecommunication Regulatory Commission (BTRC) for verifying entrepreneurs’ mobile SIM information, and Bangladesh Data Center Company Limited to ensure cloud security and uninterrupted services.

According to the ministry’s administrative approval, software developer Dynamic Solution Limited is scheduled to complete the final transformation and handover of the software by January 15, 2027.

Initial target: registration within hours

Work is underway to improve the backend algorithms to make the fully automated name-clearance system more accurate. To ensure that services for entrepreneurs are not disrupted while waiting for the fully automated system to be launched, RJSC has adopted an interim strategy.

Under the plan, during the first six months, officials concerned will promptly recheck name-clearance applications after they are submitted. If all required information and documents are accurate, the registration process is expected to be completed within a few hours.

At the same time, efforts will be made to encourage businesses to use the model memorandum and articles of association and to further improve the automated name-clearance system.

Officials believe that once fully implemented, the initiative will reduce both the time and cost involved in setting up companies. It will also reduce the need for entrepreneurs to visit government offices and increase transparency and accountability through automated verification of application information.

The initiative is expected to particularly benefit new entrepreneurs, startups and domestic and foreign investors by enabling them to start businesses more quickly.

The government believes the digital transformation of RJSC will simplify the process of starting a business, create a more investment-friendly environment and help reduce the overall cost of doing business in Bangladesh.

Additional Secretary (IIT) of the Ministry of Commerce and Registrar (Additional Charge) of RJSC Shibir Bichitra Barua, along with senior officials of the organisation, attended the meeting.