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HOW TO REGISTER A BUSINESS IN NAMIBIA
How to register a business in Namibia. In this post, we are going to explore the different types of business entities that you can register in Namibia. I am going to help introduce you to company/close corporation procedures and requirements that you need to follow in order to register a business in Namibia.
Types of businesses you can register in Namibia
In Namibia there are different types of business forms that you can register:
- Sole Proprietorship
- Partnership
- Company
- Close Corporation
Sole proprietorship
This is a type of business that can only be owned by one individual. It can trade under your name or under a different name that fits your business products/services.
How to Register a Sole proprietorship in Namibia
- Apply for the name reservation using CM5 form
(This will cost you N$75 for the revenue stamp) - Appy for the registration of defensive name using CM8 form
(This will cost you N$300 for the revenue stamp) - Renew it after 2 years using CM8 form
(This will cost you N$160 for the revenue stamp)
A defensive name is valid for 2 years and you can renew it by submitting the CM8A form.
Close Corporation
This is a type of business that can be owned and registered by a minimum of one (1) and a maximum of ten (10) individuals. The individuals who own and manage a close corporation are referred to as members of the close corporation, their total interest in the Close corporation must always add up to 100% and be expressed as a percentage.
A Guide to Close Corporation Forms in Namibia
How to Register a Close corporation in Namibia
- Apply for the name reservation using CC8 form
(This will cost you N$75 for the revenue stamp) - If step 1 is approved, you should go on and submit the CC1 form (Founding statement) in triplicate ( 3 copies).
(This will cost you N$150 for the revenue stamp).
How to register a company in Namibia
The CC1 form (Founding statement) should be accompanied by:
– Copy of approved form of name reservation
– Consent letter from your accountant
– Copy of identification
Company
This is a type of business with a more complex business structure, the owners of a company are called shareholders.
How to register a company in Namibia
Due to its complexities, you may need professional advice from legal practitioners, auditors, accounting officers to assist you in the registration of your business.
Types of Companies that you can register in Namibia: How to register a company in Namibia
- Public Company
This is a type of business with a minimum of seven (7) shareholders, and there is no limitation on the maximum number of shareholders. - Private Company
This is a type of business with a minimum of one (1) shareholders and a maximum of fifty (50) shareholders. - Section 21 or NGO
This is regarded as a public company, it has the same charecteristics as a Public Company except there is no share capital.
How to register a company in Namibia
How to register a company in Namibia
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