Business entities in Namibia in 2022

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Healy Consultants will assist our Clients with incorporating the optimal corporate structure. There are several ways of doing business in Namibia, the most common being the setting up of an LLC. Alternatively, foreign companies can also incorporate PLC or a branch office.

The Namibia limited liability company (LLC)

  • This Namibia business setup can be incorporated with i) share capital of US$1 ii) 1 shareholder and 1 director, both of whom can be of any nationality and may be resident anywhere in the world. However, the company must secure a lease agreement for its registered office to complete the company registration;
  • During incorporation, the entity must appoint a registered auditor, as the company is legally obliged to carry out an annual audit of its financial statements. However, resident companies are not required to submit the financial statements to the government.

The Namibia public limited company (PLC)

  • Although the Namibian law does not set a minimum level for the paid-up share capital requirement, at least seven shareholders and two directors must be appointed. Furthermore, like an LLC, a Namibia PLC is also required to go through an annual audit and must designate a statutory auditor for that purpose;
  • This business entity is recommended when the company owners intend to raise capital by publicly listing their company. However, it is not mandatory for a public limited company to be listed on the Namibian Stock Exchange (NSX).

The Namibia branch office

This Namibia business setup will not be considered an entity separate from the parent company. However, it will have an independent management team and corporate bank account, but the scope of its operations will still be defined by the parent company. Lastly, a branch office will be required to appoint a Namibian registered accountant and auditor and maintain statutory records in Namibia.

Table of comparison between Namibia business entities

  LLC PLC Branch
Also known as: Private company Public company Branch
How long to set the company up? 14 weeks 16 weeks 18 weeks
How long to open company bank account? 2 weeks 3 weeks 4 weeks
Legal liability? Limited Limited Unlimited
Wholly foreign owned? Yes Yes Yes
Minimum paid - up share capital? US$1 US$1 US$1
File annual tax return? Yes Yes Yes
Tax registration certificate required? Yes Yes Yes
Recommended corporate bank account? Bank Windhoek First National Bank Nedbank
Does our Client need to travel? No No No
Resident director required? No No No
Resident shareholder required? No No No
Minimum directors allowed? 1 1 1
Minimum shareholders? 1 1 1
Tax identification code needed? Yes Yes Yes
Namibia resident company secretary required? No No No
Corporate shareholders allowed? Yes Yes Yes
Corporate director(s) allowed? Yes Yes Yes
Statutory audit required? Yes Yes Yes
Namibia corporate tax rate? 33% 33% 33%
Annual financial statements required? Yes Yes Yes
Regulated by? Ministry of Trade and Industry Ministry of Trade and Industry Ministry of Trade and Industry
Allowed to issue sales invoices? Yes Yes Yes
Allowed to sign contracts? Yes Yes Yes
Allowed to import and export goods? Yes Yes Yes
Can rent an office space in Namibia? Yes Yes Yes
Can buy Namibia property? Yes Yes Yes
Total Namibia business setup costs in yr. 1? US$11,900 US$11,900 US$13,100
Subsequent annual costs (incl. accounting and tax fee)? US$8,810 US$8,810 US$9,610
Sample engagement invoice? View invoice PDF View invoice PDF View invoice PDF

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Contact us

For additional information on our business setup services in Namibia, please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi
namibia-bank of namibia namibia-chamber of mines namibia-government namibia-ncci