Eternity Law International — Ready-made company in Namibia

Ready-made company in Namibia

Published:
April 20, 2020

What is included:

  • Ready-made company in Namibia,
  • Local bank account,
  • Legal address

Cost: on request.

In the state of Namibia there is a division into thirteen regions. The population totals up to two million citizens. The country’s currency is the Namibian dollar. Officially in the state they speak English.

This state is one of the richest countries in the African continent. At the moment, registering a company in Namibia is not only profitable, but also promising in terms of development.

KEY BUSINESS TYPES

You can register a business in Namibia in the following forms:

  • limited liability companies operating both publicly and privately;
  • unlimited companies;
  • various partnerships;
  • and also in the form of trust – a trust.

The most common and popular form of company registration in Namibia is considered a private limited liability company.

In order to register this type of company with a staff of no more than 50 people and start its work, the following actions are required.

  1. Decide on the name of the organization and coordinate it in the Register of Enterprises of the country.
  2. Mandatory payment of bills for registration actions and fees is also required.
  3. The next step will be the registration of the company with the presence of a lawyer and the acquisition of a certificate with which the owner acquires the opportunity to carry out commercial activities.
  4. Then, the owner of the company and part-time shareholder with the help of an accountant or lawyer from Namibia submits the Charter and the Memorandum.

TAXATION IN NAMIBIA

Tax payments in the country have fairly loyal conditions.

  1. In Namibia, an organization is exempt from tax on inheritance and gift giving.
  2. The company’s income that it received during the capital gain in the state is also not taxable.
  3. This does not apply to companies engaged in the development of mineral resources in the state, for them the income tax is 32%.
  4. For individuals, the maximum tax rate is 36%.
  5. Persons whose profit is less than 20 thousand Namibian dollars are fully exempt from income tax.
  6. Mining organizations that have passed mandatory registration in Namibia pay tax at the lowest rate up to 25%.
  7. Organizations working in the diamond industry are taxed at up to 55%.
  8. When oil and gas are produced in the state, a tax of 32% is paid.

The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.

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