Organization : Gambia Investment & Export Promotion Agency
Type of Facility : Business Registration
Country: Gambia
Website : http://www.giepa.gm/node/12
Business Registration :
Businesses in The Gambia may be registered as a company, a sole proprietorship, a partnership, or other forms of businesses (namely co-operatives, subsidiaries of other companies).
Related : Investment & Export Promotion Agency Licenses & Permits Gambia : www.statusin.org/8851.html
Requirements of Business Registration:
When registering a business, a tax deposit is made with the Department of Income Tax. This deposit is paid together with a registration fee, and the amount paid depends on whether the business is being registered as a company, a sole proprietorship, or a partnership. Upon payment, the Department of Income Tax would issue an Income Tax Clearance Certificate to enable the business to be registered.
Investors wishing to seek GIEPA’s support and assistance through the issuance of the Special Investment Certificate (SIC) must first register (incorporate) their business ventures as legal entities operating in The Gambia. The process of registering a business in The Gambia has been simplified and requires the following documents with the Registrar of Companies:
Memorandum of Association – includes the name and registered place of business of the company, its objectives and authorised share capital subscribed by each shareholder.
Articles of association – provides information on the organisational structure and operational rules of the company.
Applicable Taxes:
Direct Taxes:
Personal Income Tax: Ranges from 10-35% on a graduated basis
Corporation Tax: 32% of computed/accepted net profit or 1.5% of turnover of audited accounts or 2.5% of turnover of un-audited accounts (Whichever is higher)
Withholding Tax: 10% of gross receipts
Indirect Taxes:
Capital Gains Tax :
15% of net gains or 5% of sales tax (in the case of personal tax)
25% of net gains or 10% of sales tax (in the case of Company tax)
Environmental Tax:
US$0.03 per person per month
National Education levy:
Ranges from US$334 to US$667 depending on turnover
Goods and Customs Clearance Procedures:
The Port of Banjul is considered as one of the safest and most efficient port in the sub region. Goods arriving in The Gambia by sea, land, or air can be cleared within 24 hours, which is the fastest in the sub-region. The process of clearing goods in The Gambia involves The Gambia Ports Authority (GPA), Customs and Excise Department (Gambia Revenue Authority), and shipping Agencies, all working in the same premises and offering One- Stop services to importers and exporters.
The following documents are required in the clearing of goods:
Bill of Lading
Certificate of Origin
Delivery Order
A Gate Pass
Go to the Single Window Business Registration Offices at the Ministry of Justice in Banjul or the Kanifing Municipal Council for the following :
| Procedure | Associated costs | |
| 1 | Obtain a registration form | No charge |
| 2 | Reserve a unique company name / name search | GMD500 |
| 3 | Obtain a Tax Identification Number (TIN) | GMD50 |
Submit a complete registration form with the registration fee of GMD 1,000 and the applicable incorporation fee below :
Incorporation Fee Structure :
| Share Capital (GMD) | Incorporation Fee |
| 1 – 500,000 | GMD10,000 |
| 500,000 – 1,000,000 | GMD15,000 |
| 1,000,000 – 10,000,000 | GMD20,000 |
| 10,000,000 – above | GMD25,000 |
Time to Complete: 1 day ( once all the required documents are in place)