Company Registration in Tanzania

Company Registration in Tanzania

Tanzania beckons with its vibrant economic potential and strategic location. But to foreign investors,navigating the company registration process can seem daunting. This blog cuts through the complexity, offering a roadmap to establishing your business in Tanzania with clarity and confidence. Let us be your guide as you unlock the exciting possibilities that await!

Company Registration in Tanzania

Your Tanzanian investment journey starts with choosing your industry. This decision is key, as it will help you select the optimal company structure for your business operations.

Feeling overwhelmed by the legalities? No problem! We offer free consultations to guide you through the options and recommend the ideal structure perfectly aligned with your specific needs.

Company registration Requirements in Tanzania

Certified copies of travel passports for all the directors and shareholders.
Three preferred names of the proposed company.
A registered address in Tanzania.
Minimum Shareholders: At least two shareholders are required for a private Company Limited by Shares (no minimum for a single-member company in Zanzibar).
Minimum Directors: Two directors are needed, with at least one residing in Tanzania for mainland registrations.
Memorandum and Articles of Association: This document outlines the company’s objectives, share capital, management structure, and shareholder rights.
A brief description of the company activities.
For subsidiaries owned by a parent company or those operating as a branch: You’ll need a certified copy of the parent company’s incorporation document and information about its ultimate owners (beneficial owners)

Company registration process in Tanzania

Choose Your Structure: Pick the best company type (e.g., Private Limited).
Name Check: Ensure your desired company name is available (through BRELA).
Prepare Documents: Gather required documents (Memorandum & Articles, passport copies, lease agreement, etc.).
Submit your application electronically through BRELA’s Online Registration System.
Fees and Payment: Pay registration fees based on initial share capital.
Approval and Issuance: Upon successful application, receive your Certificate of Incorporation.

Post -Registration;

After successfully registering your company in Tanzania, there are some important post-registration steps to complete to ensure your business is fully operational and compliant with regulations. Here’s a breakdown:

1. Obtain Tax Identification Number (TIN):

Visit the Tanzania Revenue Authority (TRA) after receiving your Certificate of Incorporation.
Apply for a TIN, which is crucial for tax filing and business activities.

2. Acquire Business License:

Identify the specific business license required for your industry sector,however only the regulated sectors require licence which makes this requirement optional.
Contact the relevant licensing authority (may vary depending on your location and industry).
Submit necessary documents and fees to obtain the license.

3. Open Corporate Bank Account:

Open a bank account for your company to manage finances and business transactions.

4. Register for Social Security (NSSF):

Register your company with the National Social Security Fund (NSSF) if you plan to employ staff.
This ensures social security contributions for your employees.

5. Ongoing Compliance:

Maintain annual filings and updates with BRELA (e.g., annual returns, changes in directors).
File taxes with the Tanzania Revenue Authority (TRA) as per regulations.
Comply with industry-specific regulations and licensing requirements.

Additional Tips:

Consider setting up a bookkeeping system to manage your company’s financial records.
Consult a tax advisor or accountant to ensure proper tax filing and compliance.
Stay updated on any changes to Tanzanian business regulations through Brela website; (https://ors.brela.go.tz/).

By completing these post-registration steps, you’ll ensure your company operates legally and smoothly in Tanzania.

Why invest in Tanzania

Gateway to East Africa: Tanzania’s membership in the EAC unlocks a vast market of over 90 million for your business. Its location also makes it a trade hub for surrounding regions.
Investor Friendly: Attractive incentives like tax breaks, import duty reductions, and streamlined procedures make Tanzania welcoming to foreign investment.
Resource Rich: From fertile land and minerals to abundant wildlife, Tanzania offers diverse opportunities in agriculture, mining, tourism, and energy.
Economic Growth: Tanzania’s steady economic rise creates a thriving market for foreign investors looking to expand their reach.
Political Stability: A history of relative political stability fosters trust and reduces risk for businesses operating in Tanzania.
Workforce Advantage: Tanzania’s young and sizeable population provides a potential pool of skilled and cost-effective labor.
Business-Friendly Environment: The Tanzanian government actively encourages foreign investment by minimizing bureaucratic obstacles.

Conclusion on Company Registration in Tanzania

Don’t let paperwork hold you back! Now that you know the ropes, get ready to conquer Tanzania’s business landscape. Register your company today! We are here to help!