COMPANY FORMATION IN TANZANIA

Start a Company in Tanzania within 5 weeks

Company Formation in Tanzania

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    REQUIREMENT TO OPEN A COMPANY

    • Minimum 2 shareholder (Individual/ Corporate Entity).
    • Minimum 2 director.
    • A director or shareholder can be the same or different person of any nationality However, it is advisable to appoint a Local Representative.
    • 100% local or foreign shareholding allowed.
    • There is no minimum share capital required but it is advisable to have a capital of TZS 100,000,000 for a company consisting of Foreign Shareholders.
    • A local registered office address is mandatory.
    • The Director/ Representative of the company need to visit Tanzania for the bank account opening process.

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    OUR SERVICES

    Company Formation Services
    Incorporation Services:
    • Company Formation.
    • Provision for the Local Registered Office Address in Tanzania for the 1st Year.
    • Tax Registration.
    • Assistance in the Corporate Bank Account Opening Process.
    Other Maintenance & Compliance Services:
    • Renewal for the Local Registered Office Address in Tanzania Annually.
    • Accounting (depending on the volume).
    • Drafting of the financial statements Statutory Audit (depends on volume and complexity).
    • Corporate tax filing (depends on complexity).

    TIME PERIOD

    The entire process of formation of a company in Tanzania is estimated to be completed in approximately 4-5 Weeks.

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    ADVANTAGES OF COMPANY FORMATION IN TANZANIA

    The Republic of Tanzania is a sovereign state located in Eastern Africa. It is closely connected to major African countries and borders Mozambique, Kenya, Malawi, Uganda, Zambia, Congo, Rwanda and Burundi. Setting up a business in Tanzania is a viable option for entrepreneurs looking to expand their business in the manufacturing, tourism, agricultural and import sector. With a population of approximately 57 million, it offers one of the biggest markets in Africa. Following are the advantages of company registration in Tanzania.

    • It is the second largest economy in Eastern Africa.

    • As one of the most prominent developing countries of Africa, it offers excellent market opportunities in tourism, import, manufacturing and agribusiness.

    • A pro-business government that facilitates the provision of various incentives for both local as well as foreign investors.

    • As opposed to its neighbours, it offers a comparably stable climate that is conducive to a prosperous business environment.

    • It offers the easy availability of skilled and semi-skilled work personnel.

    • It enjoys low transportation costs by facilitating the conveyance of goods through water for other landlocked countries.

    • Businesses in Tanzania’s SEZs are exempt from corporate and withholding tax for a period of ten years.

    • It has Bilateral Investment Treaties with approximately 19 countries.