Cost of registration
The cost of the second year
Tax on profits
Starting a business in Namibia
The Republic of Namibia is in southwest Africa, on the Atlantic coast. The state is bordered by four countries, Botswana, Zambia, Angola and South Africa.
Business registration in Namibia can be carried out in the following forms:
– a limited liability company (public or private);
– limited liability companies;
The most common form of enterprise in Namibia is a private company with limited liability. To open such a company (with the number of employees less than 50 people), you must:
Choose a name for the company and to approve it in the Register of Companies. If the name is deemed appropriate, it will be placed in reserve up to 60 days. 7-30 working days required for the inspection, as well as the backup name.
Make a payment for the registration fee, will be followed by the purchase of revenue stamps to the Tax Authority.
Register your company with the participation of a lawyer and obtain a certificate, which will make it possible to conduct business.
A shareholder of the company in Namibia, a local accountant or lawyer of the company submits Memorandum and Articles of Association.
Possible additional licenses that will need to get to conduct a full-fledged company in Namibia:
– For the transportation of goods / people;
– The development, mineral extraction;
– Import / export of goods;
– On the sale of alcohol shops or retail chains.
Depending on the industry, the procedure for obtaining a license may have specific nuances.
Taxes in Namibia
Company in Namibia does not pay inheritance tax and gift tax.
Non-taxable income derived from capital gains.
Income tax for the company in Namibia (excluding mining enterprises) – 35%.
The marginal tax rate for individuals is 36% rate.
Individuals with earnings up to 20,000 Namibian dollars are exempt from income tax.
Mining companies pay taxes in Namibia with a minimum rate of 25%.
Diamond-mining companies pay 50% tax, plus – 10% surcharge.
Oil and gas companies are taxed at a rate of 35%.
For all types of companies have special tax schemes, so the tax rate can fluctuate.
The tax on the import and production of goods – 5-15%.
VAT levied on goods and services, can be calculated at zero or 15% rate (depending on the product).
How to register the company in Namibia?
If You are interested in starting the company in Namibia or to open a bank account in Namibia, then please contact us directly firstname.lastname@example.org, and our experts will help you to choose the best solution and the most suitable procedural path for you.