How to Do Business in Namibia

How to Do 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.

2022 Intakes in Namibia [Universities, Colleges, VTC Intake]

Where and how to do business in Namibia

To establish business in Namibia, you need to;

Step 1: Establishing a legal entity in Namibia.
Step 2: Registration with the relevant authorities.
Step 3: Making taxable supplies exceeding N$500,000.
Step 4: Employing people in Namibia.
Step 5: Payments made to Non-Residents.
Step 6: Other considerations.
Contact one of our Namibian experts for assistance.

Frequently Asked Questions

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.

What do you need to start a business in Namibia?

  • Conduct market research. Market research will tell you if there’s an opportunity to turn your idea into a successful business.
  • Write your business plan.
  • Fund your business.
  • Pick your business location.
  • Choose a business structure.
  • Choose your business name.
  • Register your business.
  • Get federal and state tax IDs.

What is the best business in Namibia?

  • Roadside Fast Food Corner: This is an old tried and tested business.
  • Office Supply.
  • Rice Farming.
  • Website Designing.
  • Internet Business.
  • Tutoring.
  • Snail Rearing.
  • Poultry Farming.

Can foreigners open a business in Namibia?

The most common structure for a Namibian investor permit applicant is a Namibian company. 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.

How do I get a work visa for Namibia?

  • A signed and completed application form.
  • A passport that’s valid for at least three months beyond the projected expiration of the work permit.
  • Two passport photographs.
  • A letter from the employing company in Namibia.

How do I register a SME in Namibia?

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

What business should a teenager start in Namibia?

Farmers market vendor. Farmers markets are generally a great way to sell handmade goods in your local area, and they can be an easy way for teens to start a business and sell their wares close to home. Whether selling crafts, food items, or handmade beauty products, there are several avenues for this type of business.

Is it expensive to live in Namibia in Namibia?

The cost of living in Namibia is very high. High transportation costs make prices very high and unaffordable. Monopoly in some business sectors causes higher profit booking, which also results in raising of prices.

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.

How do I register a micro business loan in Namibia?

To register a new micro finance company a non-refundable application fee of R500 is needed as well as a R250 branch fee per location. Application forms and all relevant regulations can be easily downloaded from the NCR website or you can download the forms below: Application for registration as a credit provider.

Can I start a business without registering it in Namibia?

It is entirely legal to operate as a sole proprietorship without registering your company. All you need for IRS recognition is that you file your first business tax return, as required by federal law.

Is registration compulsory for one person company in Namibia?

Minimum One People: One person is required to start the OPC in India. These companies shall have minimum one director. The same person can become shareholder and director of the company.

Can a single person start a company in Namibia?

To incorporate a One Person Company, two person are required. The Director of the One Person Company and Nominee Director. The Nominee Director is responsible for management of the Company in case the Director is not able to execute his functions. To incorporate a Private Limited Company, two persons are required.

What are the documents required for company registration in Namibia?

  • Passport.
  • Election Card or Voter Identity Card.
  • Ration Card.
  • Driving License.
  • Electricity Bill.
  • Telephone Bill.
  • Aadhaar Card.

What are the good business ideas in Namibia?

  • Start a dropshipping business.
  • Design and sell print-on-demand t-shirts.
  • Launch your own book.
  • Create digital products or online courses.
  • Sell print-on-demand posters, greeting cards, and prints.
  • Start a charitable business.
  • Sell a service.
  • Create an online fashion boutique.

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