The requested operation could not be completed due to a file system limitation Here : CartFunctionsxx() ShoppingBasket : BindQty()
How To Start A Business in Namibia

 

 

1

 

Starting a Business in Namibia

Starting a business, or company, in Namibia takes approximately 66 days as compared to about 46 days for the Sub-Saharan Africa region. This piece outlines the general technical procedures for starting a company in Namibia, according to the Doingbusiness.org database by the World Bank. It includes details and requirements to be in good standing with all relevant agencies beyond the company registrar like social security agencies.

Use this as a guide while you complete the process and consult with agents carrying out work on your behalf.  Additional notes may be found here.

Technical Procedures

The steps involved in registering a company (Private Limited Liability Company) in Namibia are:

  1. Obtain the approval for a company name from the Registrar of Companies.
  2. Pay the registration fees and buy revenue stamps at the Receiver of Revenue.
  3. Hire an attorney to register the company with the Registrar of Companies; obtain the certificate to commence business.
  4. Deposit the initial capital in a bank account.
  5. Apply for a town planning certificate.
  6. Apply for a trading license from the local municipality.
  7. Register for PAYE with the Receiver of Revenue.
  8. Register for VAT with the Receiver of Revenue at the Ministry of Finance.
  9. Register workers with the Social Security Commission.
  10. Register workers with the Workmen’s Compensation Commission.

Namibia: Economic Development 2015

Robust construction and mining activities have kept the domestic economic recovery on course with gross domestic product (GDP) growing by 5.3% in 2014, up from 5.1% in 2013. Accounting for 60% of GDP in 2014,…

 

Industrialization and Global Value Chains in Namibia

Namibia has the potential to step up its integration into a number of global value chains (GVCs).Some positive diversification trends have occurred in the structure of the Namibian economy over the past three decades although…

 

Namibia Economy 2014: Recent Developments and Prospects

The Namibian economy recovered quickly from the global economic crisis. The annual real GDP growth rate in the 2002-08 period was strong, averaging 5.7%. This robust growth was underpinned by sound macroeconomic policies and buoyant…

 

 

Top Agricultural Products in Namibia

The following are the top agricultural products (by quantity) in Namibia in 2011. Rank Commodity Production (MT) 1 Roots and Tubers, nes                     344,569 2 Cow milk, whole, fresh                     115,000 3 Maize                       60,000…

 

Housing Supply in Namibia

The Government has stipulated clear objectives related to housing provision in Vision 2030, in National Development Plan III and in Targeted Intervention Program on Employment and Economic Growth (TIPEEG) which strategic objectives, the National Housing…

 

 

 

 

 

Namibia 2013: Key Government Leaders and Ministries

Pres. Hifikepunye POHAMBA Prime Min. Hage GEINGOB Dep. Prime Min. Marco HAUSIKU Min. of Agriculture, Water, & Forestry John MUTORWA Min. of Defense Nahas ANGULA Min. of Education Min. of Environment & Tourism Uahehua HERUNGA…

 

Namibia Stock Market Commentary – Week Ending August 23, 2013

The NSX Local gained 0.1% to close the week at 307.9 on the back of gains in FNB Namibia (+0.3%). During the week, no losses were recorded. The top traders by value were Bank Windhoek…

 

Namibia Stock Market Commentary – Week Ending August 16, 2013

The NSX Local gained 0.3% to close the week at 307.7 on the back of gains in Bank Windhoek (+1.4%), Namibia Breweries (+0.1%), and FNB Namibia (+0.1%). The top traders by value were Bank Windhoek…

 

Namibia Stock Market Commentary – Week Ending August 9, 2013

The NSX Local gained 0.3% to close the week at ,306.7 on the back of gains in Oryx Properties (+1.0%), Bank Windhoek (+0.5%), and FNB Namibia (+0.2%). During the week, losses were recorded in and…

 

Namibia Stock Market Commentary – Week Ending August 2, 2013

The NSX Local gained 0.5% to close the week at 305.8 on the back of gains in Oryx Properties (+3.3%), Namibia Breweries (+0.1%), and FNB Namibia (+0.1%). The top traders by value were FNB Namibia

 

Namibia Stock Market Commentary – Week Ending July 26, 2013

The NSX Local remained flat to close the week at 304.3 though seeing losses in Oryx Properties (- 3.2%).During the week, gains were recorded in Bank Windhoek (+0.9%), Namibia Breweries (+0.6%), and Bidvest Namibia (+0.1%)….


Namibia Stock Market Commentary – Week Ending July 19, 2013

The NSX Local gained 0.8% to close the week at 304.3 on the back of gains in Oryx Properties (+6.2%), Bank Windhoek (+0.3%) .During the week, losses were recorded in Bidvest Namibia (-0.1%). The top…


Niger: Economic Development 2013

GDP growth in 2012 was estimated at more than 13.0%, fuelled by the start of oil production and a good harvest. The contribution made by the primary, secondary and tertiary sectors to that growth was…

 

 

 

Renewable Energy Potential in Namibia

ENERGY SOURCES Total installed electricity capacity (2008): 467 MW The national utility, NamPower, only has the capacity to produce 360 MW of available power, which is often not produced in full. At present, energy production…


Namibia Stock Market Commentary – Week Ending July 12, 2013

The NSX Local gained 0.2% to close the week at 302.0 on the back of gains in Primetime (+1.8%), Furnmart (+1.1%), and Sefalana (+1.0%). During the week, losses were recorded in G4S (-5.1%), Barclays Botswana…


Namibia Stock Market Commentary – Week Ending July 5, 2013

The NSX Local gained 0.2% to close the week at 301.4 on the back of gains in Oryx Properties (+0.7%) and FNB Namibia (+0.6%).The top traders by value were Bank Windhoek (USD 3.0m), Oryx Properties…

Namibia: Economic Developments 2013

After contracting by 1.1% in 2009 due to the impact of the global economic crisis, the Namibian economy recovered strongly, growing by 6.6% in 2010 and 4.9% in 2011. The strong growth was boosted by…

Namibia: Market Opportunities for US Firms

Namibia has a population of about 2.3 million people, but with the ever-expanding port of Walvis Bay, the country is positioning itself as a gateway to the more than 240 million person Southern Africa market….


Namibia Stock Market Commentary – Week Ending June 28, 2013

The NSX Local gained 0.5% to close the week at 300.7 on the back of gains in Bank Windhoek (+1.4%), Namibia Breweries (+0.4%), and FNB Namibia (+0.1%). There were no decliners on the local board…


Key Government Leaders and Ministries in Namibia 2013

Pres. Hifikepunye POHAMBA Prime Min. Hage GEINGOB Dep. Prime Min. Marco HAUSIKU Min. of Agriculture, Water, & Forestry John MUTORWA Min. of Defense Nahas ANGULA Min. of Education Min. of Environment & Tourism Uahehua HERUNGA…

 

 

Reserve a unique company name
Agency: Registrar of Companies

Company name search and reservation is done at the Registrar of Companies within the Ministry of Trade and Industry. If the proposed name is acceptable, it will be reserved for 60 days. The Registrar of Companies is working on an online service platform, and the system is in phase 1.

18 days included in the cost of registration
 2Pay the registration fees and buy revenue stamps at the Receiver of Revenue
Agency: Receiver of Revenue

Annual duty varies depending on number of shares per Companies Act. The fee is ND 4 per 10,000 share capital and ranges between a minimum fee of ND 80 and maximum fee of ND 100. There is also a stamp duty of ND 100 to buy the annual return form CM23.

Subject to the provisions of Section 10 (1) (a) and (b) of the Companies Act, fees, additional fees, annual duty, or other moneys payable to the Registrar, may, except where otherwise provided in these regulations, be paid to any receiver of revenue. Proof of payment of such fees, additional fees, annual duty, or other moneys must be affixed to the relevant form or document by spreading adhesive paste or glue over the entire surface of the reverse side of the acknowledgement of receipt form. Fees for inspection or copies of documents may be paid on an account, subject to such conditions as the Registrar may stipulate.
1 day ND 230 - ND 250
 3Hire an attorney to register the company with the Registrar of Companies and obtain the certificate of incorporation and the certificate of business commencement
Agency: Registrar of Companies

Section 63 of the Companies Act stipulates that the memorandum and articles of association must be filed and uplifted by a subscriber or by a local accountant or company attorney.
The following documents must be filed for the registration and incorporation of a company:
- The original and two notarized copies of the memorandum and articles of incorporation referred to in regulations 17 and 18, bound as prescribed in regulation 4 (1)
- Form CM5: Application for Reservation of Name or Shortened Form or Defensive Name, containing particulars of the name reserved for a company, as approved by the Registrar, together with other forms, if any, containing particulars of the shortened form of the name of the company, as approved by the Registrar (ND 50)
- Form CM22: Notice of Registered Office and Postal Address of Company, containing a notice of the company’s registered office and postal address within the geographical boundaries of Namibia (ND 10)
- A power of attorney, signed by the subscribers to the memorandum, in favor of the person filing the documents
- Form CM29: Contents of Register of Directors, Auditors, and Officers (ND 10)
- Form CM31: Notice of, Consent to Appointment, Change of Name, or Resignation by Auditor or Removal of Auditor, containing the acceptance of appointment of an auditor (ND 10)
- Form CM46: Application and Certificate to Commence Business (ND 60 plus annual duty)
- Form CM1: Certificate of Incorporation of a Company Having a Share Capital
- Form CM2: Memorandum of Association of a Company Having a Share Capital. Proof of payment of the registration fee under Section 63 (2) of the Companies Act must be affixed to the original Form CM2 (ND 100)
- CM47: Statement by Each Director Regarding Adequacy of Capital of Company. This is a statement, as prescribed by Section 172(3)(a) of the Companies Act, of the opinion of each director to the effect that the capital of the company is adequate for the company’s purpose and its business, or, if the director believes that it is inadequate, the reasons and the manner in which and the sources from which the company is to be financed and the extent thereof. (ND 25)
The Registrar of Companies automatically forwards a copy of the memorandum and articles of association to the Receiver of Revenue, which in turns registers the company as a taxpayer and issues a tax identification number. Taxation of 33% of all profit is payable to the Receiver of Revenue.
14 days about ND 5,750+ ND 556 notary fees
 4Deposit the initial capital in a bank account
Agency: Bank

The funds for the initial capital deposit must be paid into a bank account.
- Authorized share capital: 4,000 ordinary shares of ND 1 each.
- Issued share capital: 100 ordinary shares of ND 1 each.
No legal requirements are mandated for the minimum startup capital for a private company.
1 day no charge
 5Receive fire and health inspection
Agency: Municipality

The company should not apply for a town planning certificate unless it is the owner of the premises. Companies must have a registered address in Namibia and must apply to receive fire and health inspection in order to obtain the certificate for fitness prior to the commencement of business operations. Local Authorities Act gives Municipalities authority to regulate, though Fire Regulations and Healthy Regulations, that the municipal fire chief and healthy division should inspect the business premises for safety and health of working environment. The municipality carries out municipal inspection and approves business premise occupancy after reviewing applications for receiving health and fire inspection. The inspector typically conducts inspection no later than the second day of application receipt.
1 day no charge
 6Obtain the certificate of fitness from the local municipality
Agency: Municipality

Upon satisfactory inspection of the company premises, the inspector provides the entrepreneur with a letter stating that the workplace has successfully passed inspection. The entrepreneur then returns to the local municipality in order to obtain the certificate of fitness with this proof. The certificate is annually renewable.
According to the “Healthy Regulation (Inspection Fees for Premises)” by Department of Economic Development & Environment Division: Health Services, the fees for formal non-food premises (per annum) per Schedule C (c A) (iii) is ND 172.17 of tariff plus ND 25.83 VAT, which is equal to a total of ND 198.
1 day ND 47.00 to ND 350 depending on the type of business
 7Register for VAT with the Receiver of Revenue at the Ministry of Finance
Agency: Receiver of Revenue at the Ministry of Finance

Any person, as defined by the law, who has carried on a taxable activity on or since November 27, 2000, and whose taxable turnover in any 12 month period exceeds or is likely to exceed ND 200,000 must register for VAT. The applicant submits Form VAT I to the Receiver of Revenue at the Ministry of Finance and receives the registration number within 1–4 weeks depending on the application date. The VAT number once issued is validated at the beginning of the month following the month of application.
Manufacturing companies must register for VAT. It is not compulsory for other types of businesses to register for VAT if their profit is less than ND 200,000. In order to register for VAT, the company must have a local bank account and a certificate of fitness.
9 days no charge
*8Register for Pay-As-You-Earn (PAYE) tax with the Receiver of Revenue
Agency: Receiver of Revenue at the Ministry of Finance

The registration for pay-as-you-earn tax is separate from registration for VAT, but both are registered by the Receiver of Revenue at the Ministry of Finance.
4 days (simultaneous with previous procedure) no charge
 9Register employees with the Social Security Commission
Agency: Social Security Commission

A percentage of 1.8% is deducted from the basic salary of all employees, shared on a 50/50 basis by the employee (0.9%) and employer (0.9%), with a maximum of ND 81 and a minimum of ND 2.70. The figures reflect the social security contribution of 0.9% on minimum payroll of ND 300 and maximum payroll of ND 9000. SCC has a computerized system in place. The workers will receive one social security card (one card per person) via post after as a confirmation in about 1 month.
21 days ND 10 per employee
*10Register employees with the Workmen’s Compensation Commission
Agency: Workmen’s Compensation Commission

The employer must file an application with the Workmen's Compensation Commission for all employees earning less than ND 72,000 a year, with special circumstances for those employees earning above that amount. The annual amount payable is based on a wage rate scale and on the company industry. Registration types are divided into farming (agriculture) and confirming companies.
20 days (simultaneous with procedure 9) no charge

  * Takes place simultaneously with another procedure.