BANGLADESH

Name of country

  • BANGLADESH

Region

  • Southern Asia, bordering the Bay of Bengal, between Burma and India

Population

  • 164,098,818 (July 2021 est.)

General Introduction

  • Bangladesh's nationality law governs issues of citizenship and nationality in the People's Republic of Bangladesh. The law governs the nationality and citizenship of all people who live in Bangladesh as well as those of Bangladeshi descent. It enables the children of expatriates, foreigners, and residents of Bangladesh to examine their citizenship status and, if necessary, apply for and obtain Bangladeshi citizenship.

Wifi Speed

  • According to Ookla, Bangladesh ranked 98th out of 181 countries in terms of broadband internet speed. The broadband download speed in the country is 38.27 Mbps while the upload speed is 37.22 Mbps with a latency of 11 milliseconds.

Electrical outlet

  • All power sockets in Bangladesh provide a standard voltage of 220V with a standard frequency of 50Hz.

Per Capita GDP 

Real GDP per capita

  • $4,754 (2019 est.)
  • $4,441 (2018 est.)
  • $4,161 (2017 est.)

Climate

  • tropical; mild winter (October to March); hot, humid summer (March to June); humid, warm rainy monsoon (June to October)

Residence-by-Investment

  • Permanent residency permits a person to stay in Bangladesh for as long as they like, as well as enter and exit the country without the need for a visa on an unlimited number of occasions.

Investment

  • People who invest in Bangladesh can acquire permanent residency status by investing a minimum of US$75,000 in non-repatriable funds. Citizenship is available by investing a minimum of US$500,000 or by transferring US$1,000,000 in non-repatriable funds to any recognised financial institution in Bangladesh. Although the initial investment to obtain permanent residency or citizenship is non-repatriable, profits, dividends and salaries are repatriable overseas. Under its export oriented, private sector led growth strategy and liberal Industrial Policy, Bangladesh offers potential investors and entrepreneurs generous opportunities, tax exemptions and many other incentives for investment.

Processing Time

  • Between 6 to 7 months.

Key Benefits

  • Permanent residency allows a person to stay in Bangladesh for as long as they want, as well as enter and exit Bangladesh unlimited times without requiring a visa

Requirements

  • Applicants for Bangladeshi citizenship must invest $5,000,000.00 (US) in an industrial or commercial project in Bangladesh or transfer $1,000,000.00 to any authorized financial institution in Bangladesh. This sum is non-repatriable.
  • Permanent residency is available to those who invest $75,000.00 in Bangladesh.

Natural Resources

  • natural gas, arable land, timber, coal

 Ethnic Groups

  • Bengali at least 98%, other indigenous ethnic groups 1.1% (2011 est.)

note: Bangladesh's government recognizes 27 indigenous ethnic groups under the 2010 Cultural Institution for Small Anthropological Groups Act; other sources estimate there are about 75 ethnic groups; critics of the 2011 census claim that it underestimates the size of Bangladesh's ethnic population

Languages

  • Bangla 98.8% (official, also known as Bengali), other 1.2% (2011 est.)

Religion

  • Muslim 89.1%, Hindu 10%, other 0.9% (includes Buddhist, Christian) (2013 est.)

Median Age

  • total: 27.9 years
  • male: 27.1 years
  • female: 28.6 years (2020 est.)

Urbanization

  • urban population: 38.9% of total population (2021)
  • rate of urbanization: 2.88% annual rate of change (2020-25 est.)

 Physician density

  • 0.58 physicians/1,000 population (2018)

 Government type

  • parliamentary republic

 Unemployment Rate

  • 4.4% (2017 est.)
  • 4.4% (2016 est.)

note: about 40% of the population is underemployed; many persons counted as employed work only a few hours a week and at low wages

Taxes

Headline Personal Income Tax Rate (highest marginal tax rate) - 25%

Headline Corporate Income Tax Rate (excluding dividend taxes) - 32.5%

  • Individuals must pay income tax on their complete income from all sources, excluding exempt income. However, taxation differs depending on an individual's residency status within a tax year. For tax purposes, individuals can be categorized as either residents or non-residents.
  • Residents are taxed on all of their income, no matter where it comes from. Foreign nationals, on the other hand, are normally taxed only on income generated from working in Bangladesh and foreign money received from Bangladesh sources, despite the fact that they are considered residents for tax reasons.
  • Non-residents are only taxed on income earned, accumulated, or deemed to be earned in Bangladesh. As a result, income earned outside of Bangladesh that is unrelated to Bangladesh is not taxed.

 

 

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