Botswana

Yes, a resident director is mandatory to incorporate a company in Botswana.

The corporate income tax (CIT) rate in Botswana is 22%. However, a reduced rate of 15% applies to manufacturing and financial services companies (having approval from the Ministry of Finance).

Company setup in Botswana takes around 50 days – starting from the time the application is submitted and all supporting documents are furnished to the Ministry of Trade and Industry.

The maximum income tax rate in Botswana is 25%.

The maximum VAT rate in Botswana is 10%.

GAAP stands for Generally Accepted Accounting Principles and is a collation of accounting rules and standards that are followed globally.

ACCA stands for Association of Certified Chartered Accountants. It was founded in the year 1904, with an aim of developing a body to accelerate the accounting profession for a better and transparent society.

Seniority is a blend of knowledge, experience, along with industry exposure. Experienced business experts will be able to guide your company in a much better way compared to a fresher.

Companies having a turnover of more than BWP 10 million, or possessing assets more than BWP 5 million, need to necessarily undergo an annual audit.

MyBICA is an online platform developed by Botswana Institute of Chartered Accountant (BICA) to introduce online membership with the aim of increasing the online traffic in this profession.