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Botswana

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Registering a company in Botswana in 2020

Benefits of doing business in this jurisdiction:

  • A rapidly developing economy;
  • One of the least corrupt countries in Africa;
  • A flexible tax system;
  • The presence of agreements on the avoidance of double taxation;
  • Minimum requirements for authorized capital;
  • The ability to register a company without a personal presence.

A business registration is from 1900 €

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Botswana is an independent landlocked state located in Southern Africa. It borders on South Africa, Namibia, Zimbabwe and Zambia.

If you want to register a company in Botswana remotely and open an account with Botswana bank, note that:

  • Official languages are Setswana and English;
  • The state currency is BWP (Botswana pula);
  • The country is a member of the WIPO/TRIPS, ICSID, African Union and WTO, South African Customs Union, ACT, African Development Bank, Commonwealth of Nations, Group of 77 and other international organizations;
  • The main foreign policy partner of Botswana is the Member States of the South African Development Community (SADC);
  • The country has signed free trade agreements.

If you are interested in starting a business in this jurisdiction, we recommend that you ask for personal advice on company registration procedure in Botswana from IQ Decision lawyers. Also, we can provide you with legal assistance in opening an account for a Botswana company.

Popular types of business activities

Those, who are planning to open a business in Botswana, we propose to consider the following options:

  • Setting up a travel company in Botswana. In the state, for every 100 km² there are only 34 people. Most of the country is protected areas and national parks;
  • Opening a Botswana agricultural company. Cereals are grown on soils of the north-eastern and northern parts of the country;
  • Setting up a farm in Botswana, since the livestock breeding is a well-developed economic sector;
  • Registering a mining company in Botswana, since the country has high quality oil and hard coal deposits;
  • Opening a Botswana saltworks. Botswana has one of the largest salt marshes in the world with an area of 40 km² (Makgadikgadi).
Advantages of the jurisdiction

If you want to set up a company in Botswana and open a corporate account with an African bank, then take into account the following:

  • There is the largest diamonds market located in Botswana;
  • Botswana is one of the least corrupt countries in Africa;
  • The country ranked 87th in ease of doing business and 59th in taxation according to the Doing Business 2020 rankings;
  • The government has a positive attitude to the foreign investment.

For more information, you can request for individual advice on business organization process in Botswana and account opening from IQ Decision experts.

Tax rates

If you are intended to open a company in Botswana, you should know that:

  • The corporate tax rate for resident companies is 22%;
  • Registering a production company in Botswana can be a good solution, because the government offers such benefits as low tax rates of 15% of taxable income for manufacturing companies, IFSC and Botswana Innovation Hub;
  • There is no additional taxes for certain types of activities, but branches are taxed at a rate of 30%. Tax incentives are available for a group of companies, for example, tax holidays (up to 10 years).

If you decide to set up a Botswana company, note that the country has DTA agreements with 12 countries that minimize withholding tax and, as a result, allow investors to avoid double taxation.

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Registration process

In order to start a business in Botswana, you need to fulfill the following conditions:

  • Mandatory appointments: at least 2 shareholders, 2 resident directors, 1 secretary. Documents of shareholders and directors must be certified/translated;
  • Physical office required (temporary physical office solutions available). The average monthly rental office is 25 USD per m²;
  • A non-resident founder can own all the shares of the company and set up a company in Botswana remotely;
  • As the owner of the business you can apply for a residence permit in Botswana. A non-resident foreign director does not need a work permit;
  • Monthly VAT reporting to the government is required;
  • Incorporation terms: 2 months;
  • Minimum share capital: 1 USD.

Most entrepreneurs choose to register a LLC in Botswana or a PLC.

How to open a Botswana company

In order to register a company in Botswana, you will need to open a bank account in Botswana. It is worth noting that multi-currency bank accounts and corporate visa debit cards are available in Botswana.

The quality of the electronic banking platform is satisfactory: the country has poor Internet coverage. Nevertheless, you can open a corporate account in Botswana remotely at the following banks:

  • Stanbicbank;
  • Barclays;
  • SKB Botswana;
  • NWF Botswana.

If you have questions, please ask for qualified advice on company registration process in Botswana by contacting IQ Decision lawyers.

Also, we can provide you with legal support services in Botswana bank account opening and physical office registration.

The information outlined in the article is actual at the time of its publication. Please refer to our specialists for checking possible solutions for your business.

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