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.
REQUIREMENT TO OPEN A COMPANY
Minimum 2 Shareholders
Minimum 2 Directors (Can be a foreign national)
A Company Secretary
A certified copy of Memorandum & Articles of Association (or other instrument defining the company constitution).
A list of Directors and Company Secretary.
A statement of all subsisting charges created by the company.
Name and address of resident individuals authorized to be a permanent representative of the business.
Full address of the registered principal office of the company.
Full address of the place of business in Tanzania.
A statutory declaration made by the director or company secretary stating the date of establishment, business activity and company name.
A copy of company accounts and reports.
Business Set up Services
Bank Account Opening
Licensing (if required)
Post Incorporation Services (if required)
Provision for Local Resident Office Address
The entire process of formation of a company in Tanzania is estimated to be completed in approximately 4-5 Weeks.