Perhaps you’re running an existing business somewhere outside of Tanzania.And your business is doing fairly well. So you’re thinking of expanding your business operation to Tanzania.
Your intention, however, is not to incorporate a new business in Tanzania without getting in legal trouble.
The purpose of this article to provide guidance to business owners and entrepreneurs who seek to expand business in Tanzania.
As I said in the previous article the categories of business registration in Tanzania are divided into 4 segments
- Foreign company
I have already covered Business name and Private company registration in the previous article.
Today I will cover the last segment which is registering your foreign company in Tanzania. Read on to find out
What’re foreign company?
In Tanzania, a foreign company is regarded as any company incorporated outside Tanzania but they come in Tanzania as a branch of such company even all shareholders are Tanzanians.
All business registration in Tanzania begins At Business Registration and Licensing agency(BRELA) which is an organization responsible for business operation in Tanzania.
There are two options to register your business in Tanzania
A.Set up a Local Limited company
This option will require having a local guy as a director, partner, and shareholder of a company.
You should submit to the BRELA offices the following certified true copies
1.Copies of passport for directors
2. Signature of director
4. Postal address in Tanzania
5. Power of attorney appointing a local partne
B.Open Branch of The Foreign Company
In this categories, you open representative offices of your foreign company in Tanzania
And you will submit to the BRELA office the following certified copies:
- Certified copies of Memorandum and Article of association. If these copies will be in your native language, you should translate into the English language
- Notice of situation of the registered office in the country of domicile
- List of the three names of each director and company secretary, their nationality and physical address
- Pick a Tanzanian who will act as a local representative of such company and submit his full names, physical address, and his current occupation
- You will also propose company address in Tanzania, street, plot or house where business will be conducted
- Copy of most recent accounts and related reports of the company
- Certificate of the compliance is issued after the process
The processing time might take 3 to 7 days. So after 7 days, you will get your business registered in Tanzania.
I hope this article has given you the guidance you need to go about registering your business in Tanzania.
If you have any suggestions, kindly, drop your comment below and let’s share with others.
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