How To Register A PTY Ltd In Namibia

What is a PTY Ltd?

Pty Ltd stands for Proprietary Limited. Proprietary means that the company is private (rather than publicly owned or listed) and therefore, would have a smaller number of shareholders and owners in the company. Pty Ltd company shareholders also have limited legal responsibility for the company’s debts.

How To Register A PTY Ltd In Namibia

Procedure to register Private (proprietary) Limited and Public (Limited) Companies

  1. Submit name application/reservation form CM5 or reserve a name online
  2. Upon approval, you may apply for a Certificate of Incorporation and Certificate to Commence Business. This requires the submission of the following documents:
  • Memorandum and article of Association in triplicate of forms CM3CM4CM44B and CM44C.
  • Copy of approved name on CM5
  • Notice of postal and registered address on CM22
  • List of Directors, Auditors and public Officers on CM29
  • Appointment of an Auditor on CM31
  • Application of Certificate of Registration of memorandum of External Company CM46
  • Request for submission of additional Copies on CM51.

Frequently Asked Questions (FAQ’s)

How long does it take to register a company in Namibia?

How long does it take to register a Trademark in Namibia? Trademark registration process takes minimum 6 month.

Where can I register my small business in Namibia?

  • the Ministry of Finance (registration for VAT and Company Tax)
  • the Ministry of Labour.
  • the Ministry of Home Affairs (work permits, visas, etc.)
  • the Social Security Commission.
  • NAMFISA.

What is the difference between Pty Ltd and CC?

Both Close Corporations (CC) and Private Companies (Pty) count as a legal entities and have limited liability of members or shareholders. Close Corporations are often the type of company chosen by small business owners. CCs have members – up to a maximum of 10 natural people.

How do I register my SME in Namibia?

Requirements to Apply for SME Certificate

  1. Copy of Company Registration Certificate,
  2. Social Security Commission Good Standing Certificate not older than 3 months,
  3. VAT Good Standing Certificate not older than 3 months, and.
  4. Certified Copies of IDs of all members/owners of the Company.

Do I need an accountant to set up a limited company in Namibia?

While there is no legal requirement for limited companies to use an accountant there are many benefits in doing so, such as completing your annual accounts and company tax return. They can also take care of tax registration for new companies.

How do I register a sole proprietorship in Namibia?

To register a sole proprietorship, you have to apply with the Business and Intellectual Property Authority of Namibia (BIPA). The application process can be completed online (guide) or by visiting a BIPA office in person.

How do I register a cash loan business in Namibia?

The applicant will be required to complete the application form and submit the following documentation with the completed application form to NAMFISA: 5.1 A certified copy of Income Tax registration certificate of the Cash Loan Business as issued by the Ministry of Finance.

How does a Pty Ltd company work in Namibia?

A Pty Ltd is a private company that is trading for profit, a separate legal entity distinct from its shareholders. It is liable for its debts and creditors cannot sue the shareholders for the payment of these debts.

How much tax does a Pty Ltd company pay in Namibia?

On the other hand, Pty Ltd Company offers the benefit of a flat tax rate of 27.5% – 30% for small businesses.

Do I need to include Pty Ltd?

No, you do not need to include the Pty Ltd, however it is good to use it in some circumstances with correspondence or interactions that you want to present as a company in our opinion. Definitely a great idea to look at trademarks though for either the name if possible or the logo image.

How do you know if a company is Pty Ltd in Namibia?

A company’s name must indicate its legal status. That is, if it is a proprietary company, then the word ‘Proprietary’ or the abbreviation ‘Pty’ must be included in the name, and if the liability of the company is limited, the word ‘Limited’ or the abbreviation ‘Ltd’ must appear at the end of its name.

How do I pay myself as a Ltd company in Namibia?

So, if you own and manage your limited company, you can pay yourself a dividend. This can be a tax-efficient way to take money out of your company, due to the lower personal tax paid on dividends. Through combining dividend payments with a salary, you can ensure that you’re at optimum tax efficiency.

Is it worth becoming a Ltd company in Namibia?

One of the biggest advantages for many is that running your business as a limited company can enable you to legitimately pay less personal tax than a sole trader. Running your business as a limited company could therefore help you to take home more of your earnings.

Can I do my own Ltd company accounts in Namibia?

Can I prepare my own limited company accounts? You can choose to do your own accounting for your limited company, including preparing and filing your annual accounts. They can help you meet all of the legal requirements and avoid any penalties, ensuring company accounts meet accounting standards.

How long does it take to register a CC in Namibia?

How long does it take to register a CC? A Name Reservation takes between 1-3 days. A Founding Statement can be registered within 3-5 days afterward depending on whether you have submitted your documents on time, and the workload of the registrar’s office.

Do you only pay corporation tax on profits in Namibia?

All limited companies must pay Corporation Tax on their profits, and one of the first things you will do as a new company owner is to register your new company to pay Corporation Tax. Your Corporation Tax bill is reduced by allowable expenses, such as travel, subsistence, even your salary (but not dividends).

Do you need Pty Ltd in your business name?

A company has its own name which is required to include the legal terms or abbreviations ‘pty’ and/or ‘ltd’ at the end of the name. Each entity, including franchisees and licensees, operating with a business name must register the name on the Business Names Register.