Business entities in Namibia in 2024

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