Why Register a Company in Botswana?
- Owing to a sound macroeconomic regime, Botswana has seen sustained periods of economic growth.
- Botswana has a high literacy rate with labour market stability.
- There are no foreign exchange controls in Botswana, allowing full repatriation of profits and dividends.
- Botswana has a sound legal system and a zero tolerance to corruption policy.
Process of Registering a Company in Botswana
A company in Botswana is registered by the Registrar of Companies and Intellectual Property (ROCIP). The process is as follows:
- Apply to the Companies and Intellectual Property Authority (CIPA), proposing 3 prospective company names. Search for names can be done online at the database of the Ministry of Trade and Industry. On submission of the application form to the Registrar of Companies, the applicant should receive a reply within 3 days. Once approved, the company name is reserved for 30 days.
- Get the declaration of compliance of statutory requirement signed by the company representative for incorporation before a Commissioner of Oaths. Submit the company registration form, a consent to act as shareholders, directors, auditors, company secretary and registered officers together with their national ID or passports, along with the declaration of compliance with the company secretary’s practicing licence, to the Registrar of Companies.
- A site inspection shall then be carried out by the Industrial Affairs Department [Ministry of Trade and Industry (MTI)], the Health Department, Environment Department and the Town Planning Department. This should take about 7 days.
- Procure an Industrial Licence from the Industrial Affairs Department or a trade licence from the City Council.
- Open a corporate bank account for the company.
- Obtain a Tax Identification Number (TIN) from the Botswana Revenue Service, and fill a taxpayer registration form.
- Register for Value Added Tax (VAT) with the Department of Customs and Excise.
- Enrol employees for the workplace injury insurance with an insurance company of choice.
Documents Required for Company Registration in Botswana
- Company application form
- Personal details of the director
- Copies of the ID and passport of the director and the shareholders
- Company registered address proof
- A letter authorizing the representative to apply for company registration, in case a representative is applying on behalf of the applicant