Cost Of Registering A Business in Namibia

Cost Of Registering A Business in Namibia

What is a Business?

A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. The term “business” also refers to the organized efforts and activities of individuals to produce and sell goods and services for profit.

What is the fees for company registration in Namibia?

The registration fee for organization’s whose nominal share capital is limited to Rs. 10,00,000 – Rs 2,000. The registration fee for organization’s whose nominal share capital ranges between Rs 10,00,000 to Rs 50,00,000 – Rs 2000.

Frequently Asked Questions (FAQ’s)

What is a defensive name Namibia?

A Defensive Name is the first step towards registering your business, and is registered at BIPA for the purposes of protecting such name where the defender holds material interest in such a name. The Name can be defended for an initial period of 2 years and may be renewed for an additional 2 years only.

Is Namibia good for business?

Additionally, it enjoys political stability and support, steady economic growth, and a growing population. As a result, the nation is a hub of business opportunities. Whether you are a large investor or a small entrepreneur looking for a viable commercial entity, Namibia has a suitable business environment.

What are the types of business?

There are 4 main types of business organization: sole proprietorship, partnership, corporation, and Limited Liability Company, or LLC

Where can I register my small business in Namibia?

  • the Ministry of Finance (registration for VAT and Company Tax)
  • the Ministry of Labour.
  • the Ministry of Home Affairs (work permits, visas, etc.)
  • the Social Security Commission.
  • NAMFISA.

How long does it take to register a company in Namibia?

How long does it take to register a Trademark in Namibia? Trademark registration process takes minimum 6 month.

How do I register a SME in Namibia?

Requirements to Apply for SME Certificate

  1. Copy of Company Registration Certificate,
  2. Social Security Commission Good Standing Certificate not older than 3 months,
  3. VAT Good Standing Certificate not older than 3 months, and.
  4. Certified Copies of IDs of all members/owners of the Company .

What do I need to start a business in Namibia?

Setting up Business in Namibia

  • registering a company or a branch;
  • tax registration in Namibia;
  • employee taxes;
  • foreign exchange considerations;
  • industry specific requirements;
  • group structure tax and regulatory considerations.

What documents are needed for company registration in Namibia?

The following supporting documents are required: o Certified identity copy of applicant; o Certified copies of the Identity Documents or passport of the Directors and Incorporators; o The name confirmation certificate (COR9.

How long does CIPC take to register a company in Namibia?

They should process all applications in date order but this is not always the case. Currently names are taking about one to seven business days, as soon as you receive the name and submit for registration it can also take one to seven business days, anywhere in between.

How do I register a Pty Ltd in Namibia?

Procedure to register Private (proprietary) Limited and Public (Limited) Companies

  1. Submit name application/reservation form CM5
  2. Upon approval, you may apply for a Certificate of Incorporation and Certificate to Commence Business. This requires the submission of the following documents:
  • Memorandum and article of Association in triplicate of forms CM3CM4CM44B and CM44C.
  • Copy of approved name on CM5
  • Notice of postal and registered address on CM22
  • List of Directors, Auditors and public Officers on CM29
  • Appointment of an Auditor on CM31
  • Application of Certificate of Registration of memorandum of External Company CM46
  • Request for submission of additional Copies on CM51.

How do I register a cash loan business in Namibia?

The applicant will be required to complete the application form and submit the following documentation with the completed application form to NAMFISA: 5.1 A certified copy of Income Tax registration certificate of the Cash Loan Business as issued by the Ministry of Finance.

Is it good to join LLP Company?

LLPs combine the operational advantages of a Company as well as the flexibility of Partnership Firms. The fee for incorporation of an LLP firm is very nominal as compared to that for Private Limited Company. The compliance requirements for an LLP are significantly lower than those for a private limited company.

Can I start a business without registering it in Namibia?

It is entirely legal to operate as a sole proprietorship without registering your company. Keep in mind, however, that doing so does not provide you with any form of legal protection if you experience debt or face legal action.

How long does it take to get a work visa for Namibia?

How long does the process take? Obtaining a Namibia work visa is not a short process and processing times vary from 7 to 90 working days. It therefore follows that any application for a Namibia work visa be made in ample time.

Which business is more profitable in Namibia?

The cosmetics industry is one of the most lucrative business ideas in Namibia and even in most parts of Africa.

How much is a work permit in Namibia?

Payment for study/work visa is to be made after approval by the Ministry of Home Affairs and Immigration before the actual issuance. payment is made to the Embassy bank account, visa fee is 720 SEK. Visa fee for a period of 4 – 6 months is 2000 Namibia dollars.

Does an NGO have to be registered in Namibia?

In principle, an NGO does not have to register itself to perform charitable, welfare or developmental activities. Ideally, due to obligations required of a registered NGO, the registration process itself can lead to the development of systematic thinking and functioning of an NGO’s management.