To make your experience easier, here is how to create a company in Tanzania and thus realize your dream of entrepreneurship.
Tanzania is one of the countries in Africa that appeals to a good number of foreign entrepreneurs, not to say all types of investors, when it comes to investing in the African continent.
See also: Tanzania EOR
As you may know, Africa is a very emerging continent where it is still almost possible to operate any kind of business without facing a fierce competition as in Europe or America, and this means that it is easier to launch your business and make it a real brand that will make you talk about the four corners of the globe.
Tanzania is a country that offers a wide range of advantages to international investors, especially in terms of taxation (lower taxes or even complete exemption from VAT), but also a highly skilled workforce, abundant and low cost, and a great ease in the steps to create a business.
That’s why, if this is where you intend to start your company, then this country must be on your list of priorities because another advantage that this country presents is the opening to the world economic market because of its official language which is (English) and because of its strong history because it is exactly in this country that we could discover the most ancient vertices belonging to the prehistoric man.
Tanzania is a country located in Africa, in the eastern part of the continent, and it has built its reputation on its fascinating historical past, its numerous national parks, and especially on the fact that it is home to the highest mountain in Africa (Mount Kilimanjaro).
The capital of Tanzania (city: Dodoma), is home to a high concentration of the country’s population but also a good number of activities (large companies) allowing the economic stability of the country and its growth over the years.
The Tanzanian population is now estimated at more than 20.85 million people and this is immediately felt by the strong workforce that this country offers in the world of jobs allowing it to ensure the security of production and bring most of its population out of the poverty line.
How to start a business in Tanzania:
The main steps to start a business in Tanzania:
Reserving the name of your company and registering it with the Trade Registry.
-Opening a bank account for the company and depositing your registered capital.
-Registering the articles of association of your company before its launch.
-Registering the company’s bylaws with a local notary public.
-Registering the company with the tax authorities (VAT) and obtaining a tax registration number.
-Registration of employees with the social security of Tanzania.
-The official opening of the company.
Forms of business in Tanzania:
There are various legal forms of business in Tanzania, and in this regard we can mention:
A sole proprietorship (The self-employed)
-Commercial or industrial company
-Limited Liability Company (LLC)
-Public limited company (SA)
Limited partnership/share company
-A branch office
-General partnership (SNC)
Tanzania is one of the countries in Africa that offers excellent conditions in the great world of business to allow you to implement all your business projects under a more promising and encouraging economic climate in the long term.
So, if it is in this country that you intend to make your expatriation in Africa, well go there because it is in this kind of countries that people succeed the most in the establishment of their companies even with rather limited financial means.