Investment Guide
A Business and Investment Guide for Namibia
Published by PricewaterhouseCoopers Namibia, this Guide has been prepared for the assistance of those interested in investing and doing business in Namibia. It does not cover exhaustively the subjects it treats but is intended to answer some of the important, broad questions that may arise.
When specific problems occur in practice, it will often be necessary to refer to the laws, regulations and decisions of the country and to obtain appropriate accounting and legal advice.
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Foreign Investment Amendment Act
Commenced 7 July 1992 as amended by Act No. 24, 1993, Foreign Investment Amendment Act 1993
To make provision for the promotion of foreign investments in Namibia
(Signed by the President on 19 December 1990)
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How to Register a Business in Namibia
This booklet explores how the choice of business entity may be important to you as a business person. This guide is designed to be your introduction to companies and close corporation registration procedures and requirements.
The mission of the division of the Registration of Companies and Close Corporation in the Ministry of Trade and Industry is to manage, regulate and facilitate the formation of business entities and to encourage investment through an appropriate legal framework and conducive environment that ensures the flourishing of businesses.
One of the most important decision to be taken by anyone, who wishes to launch a business enterprise, is the choice of business form. In modern-day Namibia there are various important business forms, namely sole proprietorship, partnerships, companies and close corporations.
It is not, however, a comprehensive text nor a substitution to the Companies Act and Close Corporation Act. Nor is it a substitute for the professional advice you may need from legal practitioners, auditors, accounting officers or secretarial firms to assist you in the registration of your business.
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Cost of Doing Business in Namibia
All companies doing business in Namibia or those wishing to conduct business in Namibia are required by law to register with the Registrar of Companies within the Ministry of Trade and Industry under the Companies Act 61 of 1973.
Section 63 of the Act dictates that the registration of a company should be lodged by a company lawyer or accountant, however close corporations and public/private companies are exempted from the latter prerequisite.
The following summarizes the steps, procedures and costs associated with setting up a business in Namibia:
- Deposit the initial capital in a bank account however, no legal requirements are mandated for the minimum startup capital for a private entity.
- Obtain the approval for a company name from the Registrar of Companies.
- Pay the required registration fees and buy relevant revenue stamps at the receiver of revenue.
- Hire an attorney (not applicable for a close corporation) to register the company with the Registrar of Companies. Then obtain a Certificate to Commence Business.
- Register for Value Added Tax (VAT) with the Receiver of Revenue.
- Apply for a town planning certificate.
- Apply for a health certificate/trading license from the local municipality.
- Register workers with the Social Security Commission.
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