Register Company in Tanzania

Register a Company in Tanzania

Registering a company in Tanzania is hassle-free when you work with Block3 Finance. With our deep expertise and a streamlined approach, you can focus on growing your business while we handle all aspects of company formation in Tanzania.

Block3 Finance is dedicated to providing you with a seamless experience throughout the entire registration process, ensuring that your company is operationally ready within the specified timeframe. We offer a full range of services to support your business setup in Tanzania:

Our Service Package Includes

Company Registration with the Business Registration and Licensing Agency (BRELA)

Local Company Secretary, Registered Address, and Public Officer

Corporate Bank Account Opening

Annual Accounting and Tax Services

Benefits of Registering a Company in Tanzania

Tanzania offers a thriving market with plenty of opportunities in sectors such as agribusiness, tourism, manufacturing, and importation. The Tanzanian government provides various incentives for both local and foreign investors. Here are some benefits of registering a business in Tanzania:

No Restrictions on Foreign Ownership: Foreign investors can fully own companies in Tanzania, with the exception of certain regulated industries like banking and insurance.

Low Setup Costs: Tanzania has one of the lowest consumer cost indices in Sub-Saharan Africa, making it an affordable location for business operations.

Tax Incentives: The country offers favorable conditions, including a 100% VAT exemption and no corporate tax for 10 years for businesses in special economic zones (SEZs).

Skilled Workforce: Tanzania has a labor force that is readily available, with skilled and semi-skilled workers across various industries.

Peaceful Environment: The country is politically stable and offers a conducive environment for businesses to thrive.

How Long Does It Take to Register a Company in Tanzania and Open a Corporate Bank Account?

Block3 Finance ensures that your company formation process is smooth and efficient.

Company Registration: Upon receiving the required documents, we will register your company with BRELA and you can expect to receive your Company Registration Certificate, Notice of Incorporation, and Memorandum of Incorporation (MOI) within 6 weeks.

Corporate Bank Account: After registration, we will assist you in opening a corporate bank account with a local or international bank. This usually takes 4 weeks.

Total Timeline: You can expect to start operations and issue invoices with your new company within 10 weeks after engaging Block3 Finance.

Common Challenges When Registering a Company in Tanzania

There are a few challenges you may face while registering a company in Tanzania, but Block3 Finance is here to make the process easier:

Complex Registration Process: The registration process involves multiple steps and paperwork. We will handle all aspects to ensure the process is hassle-free.

Name Reservation Issues: Choosing a unique name for your company can be tricky. We will assist you with the name reservation process and offer international trademark registration for global name protection.

Obtaining Necessary Licenses: We will help you understand which licenses your business requires and assist in acquiring them promptly.

Tax Registration Challenges: Registering for a Taxpayer Identification Number (TIN) can be daunting. We will guide you through the process and ensure you meet all tax requirements.

Language Barriers: Block3 Finance provides services in multiple languages, making communication and understanding of the legal requirements easier.

High Registration Costs: We provide transparent pricing, ensuring you know the cost breakdown from the start.

Can a Foreigner Start a Business in Tanzania?

Yes, foreigners can establish a company in Tanzania. The government encourages foreign investment, and there are no restrictions on foreign ownership, except for certain regulated industries like banking and insurance. Block3 Finance will guide you through every step to ensure compliance with Tanzanian regulations.

Types of Business Entities in Tanzania

Depending on your business needs, you can choose from several types of company structures. Block3 Finance will help you decide the best entity for your business:

Limited Liability Company (LLC): The most common structure for foreign investors. Offers liability protection to shareholders and can be formed with a minimum of 2 shareholders and 2 directors. There is no minimum share capital required.

Public Company: Ideal for those looking to raise capital and list on the Tanzanian stock exchange. Requires 2 directors and at least 7 shareholders, with one shareholder being Tanzanian.

Private Company: Similar to a limited liability company but cannot issue shares to the public. Requires at least 2 members, but no more than 50 shareholders.

Branch: Foreign companies can set up a branch office in Tanzania. The branch is not a separate legal entity but carries out business activities under the parent company’s name.

How to Register a Company in Tanzania

1. Choose the Right Business Structure: Block3 Finance will help you select the most suitable business entity based on your long-term goals and objectives.

2. Company Name Reservation: We will conduct a name search and reserve your preferred business name with BRELA.

3. Prepare the Required Documents: You will need to provide various documents such as passports, proof of address, and business details. We will assist you in preparing and submitting these documents.

4. Register the Company: Block3 Finance will submit the completed documents to BRELA for registration. Once approved, you will receive your Company Registration Certificate.

5. Open a Corporate Bank Account: After registration, we will help you open a corporate bank account with a reputable Tanzanian or international bank.

6. Apply for a Taxpayer Identification Number (TIN): We will guide you through the process of applying for a TIN with the Tanzania Revenue Authority (TRA).

Post-Registration Compliance Annual Returns:

Companies are required to file annual returns with BRELA. Block3 Finance will handle this for you.

Tax Compliance: We will assist with corporate income tax and VAT filings.

Employee Compliance: We ensure your business complies with labor laws, including social security contributions and workplace safety regulations.

Cost to Register a Company in Tanzania

We offer clear and transparent pricing for registering a company in Tanzania. All fees, including government charges, professional service fees, and additional costs are provided upfront, so you can plan accordingly.

Why Register a Company in Tanzania?

Political Stability: Tanzania is politically stable and offers a secure environment for business.

Strategic Location: The country’s infrastructure supports trade across Africa, Asia, and Europe.

Business Incentives: Special Economic Zones (SEZs) offer tax exemptions and other incentives for businesses.

Skilled Workforce: Tanzania has a growing labor force with skills suited to various industries.

Contact Block3 Finance

If you're ready to start your business in Tanzania, Block3 Finance is here to help. Our experts will guide you through every step of the company registration process and ensure ongoing compliance.

Tanzania