5,683 firms receive registration from RJSC in Jul-Dec

Some 5,683 companies, societies and partnership firms received registration from the Office of the Registrar of Joint Stock Companies and Firms (RJSC) in the first half of the ongoing financial year.   

Of them, 4,298 were companies, 76 one-person companies (OPCs), 122 societies, 1,172 partnership firms and 11 trade organisations, according to the website of the government agency.

The office of the RJSC is mandated to provide name clearances and registration to all public companies, private companies, liaison offices or branches of foreign companies, trade organisations, societies and partnership firms.

In the July-November period, the RJSC earned Tk 138 crore in revenues. Of the sum, Tk 71.23 crore was generated in the form of non-tax revenue, Tk 56.28 crore was in the form of stamp duties, and Tk 10.68 crore was as value-added tax.

As of December, there were 278,277 companies, societies and partnership firms registered with the RJSC. Of them, 3,650 are public limited companies and 201,816 are private limited companies.

Besides, there are 1,041 liaison offices of foreign companies, 54,772 partnership firms, 1,169 trade organisations, 15,629 societies, and 200 OPCs.

OPC means a company formed with only one person as a member, unlike traditional private companies with at least two members. In November 2020, the parliament passed the law to help set up OPCs.

Registration of new firms declined 9 per cent year-on-year to 13,480 in the last fiscal year of 2021-22 owing largely to the persisting economic uncertainty at home and abroad. The fall came after it rose to an all-time high of 14,826 in 2020-21.