How to Do Business in Namibia

How to Do Business in Namibia

What is 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.

Where and how to do Business in Namibia

Obtain the approval for a company name from the Registrar of Companies. Pay the registration fees and buy revenue stamps at the Receiver of Revenue. Hire an attorney to register the company with the Registrar of Companies; obtain the certificate to commence business. Deposit the initial capital in a bank account.

Frequently Asked Questions

What is the main purpose of a business in Namibia?

The primary purpose of a business is to maximize profits for its owners or stakeholders while maintaining corporate social responsibility.

What is the main purpose of business in one word in Namibia?

There is only one valid definition of business purpose: to create a customer. The customer is a foundation of a business and keeps it in existence. The customer alone gives employment. And it is to supply the customer that society entrusts wealth-producing resources to the business enterprise.

What is the purpose of business in society in Namibia?

The role of a business is to produce and distribute goods and services to satisfy a public need or demand.

How is a business successful in Namibia?

Successful businesses understand the need to continuously improve their business processes: to become more efficient and productive, and to respond to market changes faster while providing better service to customers. They benefit a business in several ways including making a business competitive and enabling growth.

How do you create a business purpose in Namibia?

  • Start with you.
  • Define the values and activities around your purpose.
  • Build (or rebuild) a practical, inspiring business.
  • Core purpose statement.
  • Go back to yourself.

Can foreigners do business in Namibia?

It therefore follows that a foreign shareholder can own 100% of the shares in a Namibian company. The company may appoint Directors and shareholders need not be natural persons. A Namibian close corporation can only have members that are natural persons, in other words a business may not be a member.

What is the best business in Namibia?

  • Food Business Ideas In Namibia.
  • Organizing Private Classes For Students.
  • You Can Become a Web Designer In Namibia.
  • Start A Gym Business.
  • Photography Business In Namibia.
  • Start A Backyard Garden.
  • Create Your Own Blog.
  • Start A Cosmetic Business In Namibia.

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.

How many companies are there in Namibia?

Global Database has 8479 registered organisations listed in the Namibia database.

How do I register a foreign business in Namibia?

  • Submission of name application/reservation form CM5. Name reservations can also be done online.
  • Once the name reservation is approved, you can now apply for a Certificate of Incorporation and Certificate to Commence Business.

Can a South African buy a business in Namibia?

It is important to note that Namibia has no restrictions on the ownership of shares in Namibian entities by foreign nationals. In Namibia a business can be managed and property purchased through companies, closed corporations and/or business trusts.

Is Namibia good for business in Namibia?

Economy. The mining industry is one of Namibia’s key sources of income and provides more than half of the country’s foreign exchange income. Namibia is on of the largest producers of uranium in the world. Namibia also has an active commercial fishing industry centred around Walvis Bay and its sardine-packed waters.

How do I register a sole proprietorship in Namibia in Namibia?

To register a sole proprietorship, you have to apply with the Business and Intellectual Property Authority of Namibia (BIPA). The application process can be completed online (guide) or by visiting a BIPA office in person.

Can a South African buy a house in Namibia?

The Namibia currency is pegged to the SA rand which you can use in the country. All you need is your South Africa passport to get in and out and you can stay for up to 120 days. South Africans are free to buy residential property in the country. Namibia – Henties Bay Golf Estate Retirement Village – priced from R1.

Does Namibia tax foreign income?

Namibia has a source based system of taxation with the result that Namibian residents are, save for some exceptions, only taxed on their Namibian income while foreign residents are taxed only on the income generated within Namibia.