Find Out All You Can on How to Register Company in Gambia
Gambia is a coastal country with plenty of natural resources. It is prominently known for beautiful beaches and is currently making strides in the business world. Before we get to know the steps to register company in Gambia, here are more reasons why you should consider to do business in the country:
- Offers political stability
- Low taxes and an accessible regulatory environment for businesses
- English-speaking workforce
Now that we know what to expect in Gambia, let’s start the company registration process.
Step-By-Step To Register Company in Gambia
Registering a company in the Gambia is straightforward, beginning with the company’s name.
Apply To Reserve the Name
Before you can register company in the Gambia, you must have the company name in mind. Check for its availability. If yes, you can apply to reserve it. The company name will be reserved for 30 days.
Drafting Articles and Memorandum of Association
Next, you must draft the articles and memorandum of association including all the necessary details of your company. Some say these two documents are predecessors to the company profile but are more detailed and transparent.
These two documents require the signature of the shareholders. Registering a company in Gambia calls for at least one shareholder and one director. Their complete information and valid identification are also crucial, like having the share capital and the shareholder’s voting rights. The minimum share capital starts from one dollar.
The Gambia company law requires companies to register with a physical office address in Gambia. It is not allowed to use a post box or a virtual address.
Get A TIN from GRA
A tax identification number (TIN) is mandatory to register company in Gambia. The Gambia Revenue Authority (GRA) issues the TIN to business entities and individuals. Prepare a Gambian business address, details of your business activities, and personal details to apply for the company’s TIN.
File Application & Pay The Fees
Once you have the necessary documents, you can apply to register company in Gambia at the Commercial Registry. Depending on the entity type, you can also pay for the fees here.
To register company in the Gambia will take about three weeks. However, there is some relief. Obtaining the TIN from GRA takes less than a day to complete.
That said, you must comply with all the requirements to obtain the TIN. The challenge of company registration in Gambia would be understanding and complying with local laws.
Knowledgeable & Committed
At 3E Accounting, we want you to know that we are ready to assist you in every way possible when you want to register company in Gambia.
The Gambian local regulations can pose a challenge. As a seasoned business individual or a budding entrepreneur, having a knowledgeable and reputable partner to assist in the company registration will significantly affect the business initiation in Gambia.