Registering a business in Namibia usually involves up to four places: the Business and Intellectual Property Authority for the business itself, the Namibia Revenue Agency for tax, the Social Security Commission if you employ anyone, and your local authority for a trading licence where one applies. Confirm the current forms and fees with each office.
Do you need to register before you start?
You do not need a registered company to test an idea. Talk to customers and cost the product first. Many people pay for registration and then find the business does not work. Register when you are ready to trade properly, open a business bank account, tender, or borrow.
1. The business itself: BIPA
The Business and Intellectual Property Authority (BIPA) registers business entities in Namibia. BIPA's own guidance describes close corporations, which have between one and ten members, and companies, which include private companies and non-profit (Section 21) companies.
- First, reserve a name. BIPA's guidance lists a name reservation form (CC8 for a close corporation, CM5 for a company), a certified copy of the applicant's identity document, and a fee of N$75. A reserved name is held for 60 business days.
- Then register the entity. A close corporation uses a founding statement (form CC1) with a beneficial ownership declaration. A company needs a memorandum and articles of association and further forms.
- Afterwards, each year. Registered entities file an annual return and pay an annual duty. Changes in ownership must be declared.
Which form of business suits you depends on your circumstances. Ask BIPA, or a registered accountant, before you choose. The figures above come from BIPA's published guidance and may have changed.
2. Tax: NamRA
Income from business activities carried out in Namibia is taxable. Register as a taxpayer with the Namibia Revenue Agency (NamRA), and ask whether your turnover requires VAT registration and what you must do if you employ staff. NamRA has a page for people who own a one-person business.
3. Employees: the Social Security Commission
If you employ anyone, employers are expected to register themselves and their employees with the Social Security Commission and contribute each month. Ask the Commission what applies to you.
4. A trading licence: your local authority
Many activities, especially shops, food and accommodation, need a trading licence or a fitness certificate from the town council or other local authority. In Rundu, ask the Rundu Town Council what your kind of business needs before you sign a lease.
Then: a business bank account
Keeping business money apart from personal money is the single most useful habit for a new business. Banks will ask for your registration documents and identification.
Paying someone to register for you
Agents and consultants offer to do the registration for a fee on top of the official fees. That can save time. Ask for the official fee and the agent's fee separately, in writing, and ask for the official receipt.
Where ADA Consulting fits
We help with the part that comes before and after the paperwork: whether the idea works, what to charge, and what to do in the first year. See Will my business idea work?