Company incorporation in Botswana can be undertaken through The Companies and Intellectual Property Authority (CIPA). CIPA facilitates the registration of Business names and Companies for individuals, groups or corporations in accordance with the Companies Act and the Registration of Business Names Act.
Companies can be registered in any of the following categories:
* Sole Proprietorship: A sole proprietorship is a company by a single person, known as the sole proprietor. He/she reaps the entirety of the profits and also bears unlimited liability for the business, implying that he/she is personally liable for any debts or obligations of the company.
* Partnership: A partnership is similar to a sole proprietorship in all respects, except that it is owned by 2 or more people.
* Private Limited Company: A private limited company in Botswana can be formed by 2 to 50 members. A Botswana private limited company is required to appoint at least 1 director (who must be a local resident) and 1 shareholder (who can be of any nationality). It must have a registered office in Botswana.
* Public Limited Company: A public limited company in Botswana can be formed by more than 50 members. It must appoint at least 2 directors (1 of whom is required to be a resident of Botswana) and 7 shareholders.
* Branch Office: An overseas firm may set up a 100% foreign-owned company in Botswana in the form of a branch office. It may be used to carry out business activities within Botswana, and calls for only 1 director and 1 shareholder for its incorporation.
* Representative Office: A representative office is set up to purely for market research or promotion purposes. It is not allowed to carry out commercial or business-related activities.
Benefits of Company Incorporation in Botswana
Setting up a company in Botswana has the following benefits:
* Botswana allows free outflow of capital and profits, and does not exercise foreign exchange controls or restrictions – fostering investment activity.
* Botswana, being Africa’s longest standing democracy, has a stable political environment.
* The literacy rate in Botswana is high, with the official language being English.
* In terms of banking and finance, Botswana is one of the most developed countries in the continent.
Please browse through the Services Category on Skymartbw for assistance packages to get your business going.
