Success tips when doing business in Namibia in 2021
- Your joint venture partner or Namibia shareholder must not merely be a nominee for the sake of meeting the rules of foreign company incorporation. You should choose a partner that actually brings a lot to the table, including local knowledge your business would need in Namibia;
- To optimize the success of your new business venture in Namibia, Healy Consultants recommends your firm i) complete a feasibility study ii) prepare a detailed business plan iii) communicate with the Namibia Chamber of Commerce iv) speak to your local embassy in Namibia and v) communicate with Healy Consultants Clients who successfully launched their business in Namibia;
- Foreign companies should be aware i) Namibia statistics and market data are usually imprecise ii) transactions tend to take longer than expected iii) more frequent and longer market visits are required, at least initially iv) complex business procedures are common;
- An essential factor in starting a business in Namibia is to thoroughly research the business sector you are planning to invest in. Healy Consultants recommends our Client prepare a detailed business plan including an extensive market study and evaluation of competitors.
Interesting facts about Namibia?
- Namibia has a literacy rate of 83%, which is one of the highest in Africa;
- The official currency of Namibia is Namibian Dollar. However, South African Rand is also a legal tender and can be used to purchase goods and services;
- 80% of Namibian land is made up of desert and the country is home to the oldest desert in the world (about 80 million years old);
- The largest economic sectors of Namibia include i) mining ii) agriculture and iii) tourism.
Frequently asked questions
What is the minimum share capital requirement for starting a business in Namibia?No minimum paid up share capital is mandated when registering a company in Namibia.
How many directors and shareholders are required for registering a company in Namibia?Only 1 director and 1 shareholder are required for business registration in Namibia.
Is it mandatory to have a resident director or shareholder for Company Registration in Namibia?No. It is not necessary to appoint a resident director or shareholder for registering a new company in Namibia.
Is a company secretary mandatory for company registration in Namibia?No. A company secretary is not required for opening a business in Namibia.
How to register a business in Namibia?For business registration, our Client will be required to i) reserve the company name ii) supply the Namibia office lease agreement iii) sign the company setup forms iv) register for tax and social security and v) obtain a business license.
Healy Consultants’ experts are Namibia company registration specialists and will assist our Clients at every step.
Can Healy Consultants assist my firm with Namibia subsidiary company registration?Yes. Our Namibia company registration services include i) business registration ii) business license registration iii) immigration solutions iv) employment strategies v) business banking solutions and vi) office rental requirements.