Requirements To Register A Company In Tanzania
Do you need help with company registration in Tanzania? At Tan Biz Link we help locals and foreigners to register their businesses or companies in Tanzania. We are a trusted and licensed company based in Tanzania that dedicates its entire scope of resources to fulfilling the whole procedures of registering a company in Tanzania. Let us guide you to a successful company formation in Tanzania.
Our team is fully dedicated to helping you understand the procedures on how to register a company in Tanzania. Our goal is to serve our clients with the best experiences. Whether you are a Tanzanian or a foreigner looking to start a business in Tanzania, we can help you register a business or company here in Tanzania.
HOW TO REGISTER A COMPANY IN TANZANIA
Company registration in Tanzania is very simple, It’s done through BRELA(Business Registration and Licensing Agency) a government agency that facilitates business registration and post-registration issues. Setting up a company in Tanzania is a right of those who wish to associate and form themselves into a company pursuant to the existing company laws.
Also, foreigners looking to start a business in Tanzania, need to follow defined laws and processes associated with company registration in Tanzania.
STEPS TO REGISTER A COMPANY IN TANZANIA
For successful company registration in Tanzania, follow these steps:
- Choose the type of company you want to register
- Register your business name with BRELA
- Submit your Memorandum and Articles of Association
- Register with Tanzania Revenue Authority
- Get your business licence
DOCUMENTS REQUIRED FOR COMPANY REGISTRATION IN TANZANIA
- Certified Memorandum and Articles of Association
- Certified copy of the lease agreement (with stamp duty and withholding tax paid) for the office
- Passport copies of the shareholders and directors
- TIN application form
- VAT application and registration form
- Application for employer registration
STEPS TO REGISTER A COMPANY IN TANZANIA
BUSINESS STRUCTURES YOU CAN REGISTER IN TANZANIA
- Limited Liability Company In Tanzania, a limited liability company (LLC) is a separate legal entity from its shareholders. Each shareholder’s liability for an LLC’s debts and obligations is limited to their respective share capital contribution. The requirement for an LLC incorporation in Tanzania is at least two shareholders and two directors, all of whom can be of any nationality. There is no requirement for a minimum paid-up share capital. An LLC is the most commonly used legal entity for registering a business by a foreigner, and it is best suited for the incorporation of a small business with a simple shareholding structure.
- Public company A public company in Tanzania is one whose shares are available for public trading. To form such a company, at least two directors and seven shareholders are required (one of whom must be a Tanzanian national with a minimum 40% stake in the company). A minimum share capital of US$300,000 is also required to establish a public company. A public company is ideal for anyone looking to raise capital or list his or her business on the Tanzanian National Stock Exchange.
- Branch A foreign firm may establish a 100 percent foreign-owned company in Tanzania as a branch office. It can be used to conduct business within the country.
- Representative A foreign firm may establish a 100 percent foreign-owned company in Tanzania as a branch office. It can be used to conduct business within the country.
BENEFITS OF REGISTERING A COMPANY IN TANZANIA
- Tanzania allows free capital and profit outflows and does not impose foreign exchange controls or restrictions, thereby encouraging investment activity.
- Tanzania has one of the lowest consumer cost indices in Sub-Saharan Africa, so starting a business is inexpensive.
- Tanzania’s special economic zones offer a variety of incentives, including a complete exemption from value-added tax (VAT) on utilities and a 10-year exemption from corporate tax and withholding tax
How can a foreigner register a company in Tanzania?
Foreign companies can register in Tanzania through the Tanzania Investment Centre or the Business Registration and Licensing Agency (BRELA). If you are a foreign company looking to establish a branch in Tanzania, you may find it hard to do so if you don’t have enough information on procedures to do so.