Online Company Registration in Tanzania
Online company registration allows individuals and businesses to register a company through electronic means, streamlining the registration process. The following is a step-by-step guide for company registration.Procedures of registering a company in Tanzania | Steps of registering a company in Tanzania | BRELA Company Registration Procedures | How to Register a Company in Tanzania pdf | Procedures for registration of a company in Tanzania
Now, let’s explore the procedure for company registration in Tanzania:1. Selecting a Business Name
Choose a distinct and memorable name for your company that is in line with your business activities. It is important to confirm that the name is not already registered or too similar to existing companies.
2. Drafting the Company’s Articles of Association
Prepare the Articles of Association, which outline the internal operations and regulations of your company. This document includes important details such as the company’s objectives, share capital, management structure, and shareholder rights. Seeking legal assistance is recommended to ensure compliance with Tanzanian company law.
3. Filling Out the Registration Forms
Obtain the necessary registration forms from the Business Registration and Licensing Agency (BRELA) or access them online. Fill out the forms accurately, providing all the required information, including the company name, registered office address, director details, and shareholder information.
4.Paying the Applicable Fees
Calculate the registration fees based on your company’s authorized share capital and make the payment at the designated bank. The fee structure varies depending on the type and size of the company. Ensure that you receive a receipt as evidence of payment.
5.Submitting the Application
Submit the completed forms, Articles of Association, and proof of payment to BRELA. The registration process will begin once your application is received. It is advisable to submit the application in person or through a reliable representative to ensure that all documents are properly received and processed. For better understanding feel free to contact us today!
Company Registration Fees in Tanzania | Cost for Company Registration in Tanzania | Fees required to Register a Company in Tanzania
The Cost of company registration in Tanzania consists of fees for registration, consulting fees (if you choose to involve a consultant like Afrisetup), fees for notarization, and any other costs associated with preparing and submitting documents. The overall expenses will vary based on the authorized share capital and the particular requirements of your company.Documents required for company registration in Tanzania
To register a company in Tanzania, you will need the following documents:- At least 3 proposed Company Names
- Passport Size Photographs of the shareholders and directors
- Proposed Business Location
- Physical Address, Phone number, Email Address of the shareholders and directors
- National ID / Travel Passport copies of the shareholders and directors
- Description of the business activities
Registration of foreign company in Tanzania
Documents required for Registration of foreign company in Tanzania | What do you need to register a foreign company in Tanzania?
To register a foreign company in Tanzania, you will need the following documents:1.A certified copy of the Certificate of Incorporation.
2.A certified copy of the Memorandum and Articles of Association, Statutes, Charter, or any other instrument that defines the Constitution of the Company, as applicable.
3.A Board resolution Authorizing opening of a company in Tanzania
5 Benefits of Company Registration in Tanzania
Registering a company in Tanzania offers numerous advantages for both local and foreign entrepreneurs. Some of the key benefits include:1.Limited Liability
One of the primary advantages of company registration in Tanzania is that it provides limited liability protection. As a registered company, your personal assets are separate from the company’s liabilities. In the event of financial difficulties or legal issues, your personal assets are generally protected, and your liability is limited to the amount you have invested in the company.
2.Business Credibility
Registering a company enhances your business credibility and professionalism. It gives your business a legal identity, which helps build trust with customers, suppliers, and business partners. Potential clients and partners often prefer to work with registered companies as they perceive them as more reliable and trustworthy.
3.Access to Funding
Registered companies in Tanzania have better access to various sources of funding. Banks and financial institutions are more likely to provide loans or credit facilities to registered businesses compared to unregistered ones. Additionally, registered companies may have opportunities to secure funding from investors, venture capitalists, or apply for government grants or financial assistance programs.
4.Ease of Doing Business
Tanzania has made significant efforts to improve its business registration processes, making it easier and faster for entrepreneurs to set up and operate their businesses. The government has implemented initiatives to streamline administrative procedures, reduce bureaucracy, and provide online platforms for company registration. These efforts aim to promote a business-friendly environment and facilitate the ease of doing business in the country.
5.Tax Benefits
Registered companies in Tanzania may enjoy tax incentives and exemptions provided by the government. These incentives can include reduced corporate tax rates, tax holidays for specific industries or regions, exemptions from certain taxes or duties, and other incentives aimed at attracting investment and promoting economic growth. Taking advantage of these tax benefits can result in significant cost savings for your business.