Name clearance is a requirement, and the goal is to determine if an organization has already been registered under the proposed name of the organization to be registered, ensuring that no organizations have the same name. Before registering a new company, entrepreneurs must apply to RJSC for name clearance of the new firm (excluding foreign companies). The procedure is as follows:
Step 1: The clearance application must be sent to the RJSC registrar of the specified RJSC office via the RSJC website.
Step 2: The fee for name clearance has to be submitted to the designated bank.
Step 3: After receiving the clearance application and the required fee, the RJSC gives approval for any of the proposed names on the condition that it does not match or be similar to any name already registered, licensed, or applied.
Step 4: Name Clearance is valid for 30 days (Society 180 days). An application for registration, as well as the required paperwork and payments, must be filed within this time, otherwise, the name clearance will be revoked.
It is to be noted that name clearance is not required for the registration of foreign companies.
Fees (for each proposed name):
- Company (Private and Public) – BDT 200/-.
- Partnership – BDT 200/-
- Society – BDT 1000/-
- Professional organization – BDT 200/-
Further information can be found here: Office of Registrar of Joint Stock Companies and Firms.