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Doing Business in Namibia
 
 
 

Forms of Business Organisation

A business may be conducted by individuals, partnerships, trusts, close corporations, Namibian companies or branches of foreign companies.

Close Corporation

A close corporation is governed by the Close Corporations Act. It may have only individuals as members and, thus, is not usually a suitable vehicle for foreign investors.

Company

A Namibian company may be public (name ends in Limited ) or private (name ends in (Proprietary) Limited). Both private and public companies are governed by the Companies Act. There is no minimum equity capital requirement for companies.

The private company is the most common vehicle for operating a business in Namibia. It may have only one member and director. There need not be any Namibian resident directors.

Branches of Foreign Company

A subsidiary of a foreign company is regarded as a Namibian company. The legal liability of the parent company is limited to the amount of capital committed (together with any guarantees provided).

Both a Namibian company and a branch operation are subject to the provisions of the Companies Act.

An annual duty is payable on the issued share capital of a Namibian company of a branch. The duty is payable on incorporation or registration and thereafter annually within one month of a company's year end. The rate of annual duty is N$ 80 up to N$ 200 000 issued capital, thereafter N$ 4 per completed N$ 10 000 of issued share capital.

A branch is obliged to lodge a certified copy of its Memorandum and Articles of Association (or other instrument defining its constitution) with the Registrar of Companies, as well as a sworn translation into English where appropriate.

Two primary requirements for a branch are:

an annual audit, and

financial statements must be lodged with the Registrar of Companies. (Financial statements must also be lodged for the company as a whole. Exemptions, renewable every two years, may be obtained in certain circumstances).

Locally registered private companies are also required to be audited but are not required to lodge their annual financial statements with the Registrar of Companies.

 

 
 

 



 


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