LION CONSULTING: COMPANY INCORPORATION STEP BY STEP GUIDE
Establishing a company in Tanzania is a multi-stage process. The successful establishment of a company requires the submission of a number of documents as well as detailed information provided by the client to Lion Consulting.
In order for Lion Consulting to assist our clients in the best and most efficient manner, we provide a detailed checklist in stages which we ask our clients to provide to us. Once we have all the required information and documentation we ensure all deliverable are swiftly delivered.
Stage 1 – Obtaining a Certificate of Incorporation
Upon clearance of the company name provided by the client, preparation of the memorandum and articles of association as well as relevant company forms they are submitted to the Business Registrations and Licensing Agency.
We aim to deliver a Certificate of Incorporation within 4 working days once we have received all required documentation and information from the client.
Stage 2 – Obtaining a Tax Identification Number Certificate
After incorporation the new company must register with the Tanzania Revenue Authority to obtain a Tax Payer Identification Number. This is again completed once all relevant information and documentation requested is provided to Lion Consulting.
We have this processed within 2 working days.
Stage 3 – Obtaining a Business Licence
Before commencing business activities, the new company will be required to obtain a business licence which is renewable on a yearly basis. Once we have the new company’s objective provided in stage, Lion Consulting will provide a list of the requisite documents and fees applicable.
We aim to process the business licence within 3 working days.
Stage 4 – Obtaining a Value Added Tax Certificate
VAT is chargeable on the supply of goods or services in Mainland Tanzania. In order to obtain a VAT certificate, a company’s turnover must be approximately USD 46,000. This is usually an estimation and in order to process the same a thorough evaluation is conducted by the Tanzania Revenue Authority in order to verify the provided estimation.
We aim to process the VAT certificate within 5 working days.
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