Mozambique Company Registration and Business Opportunities
Mozambique could be one of the world’s next great energy superpower in the next few decades due to its abundant energy resources and the discovery of various gas reserves in the last decade. Other sectors that are noteworthy include mining, precious metals, tourism, renewable energy, and manufacturing
Mozambique also benefits from being one of the five major trading partners with South Africa. It is the regional economic hub of Africa and continues to be one of the fastest-growing economies in the continent.
Mozambique Company Registration
Company registration in Mozambique is done with the official company registry. It is known as Conservatória do Registo de Entidades Legais or CREL.
However, there are important pre-registration and post-registration procedures that need to be done. It will take a total of around 10 procedures. Also, it isan average of 17 days to complete in Maputo City, which is also the capital city.
The 10 procedures are as follows:
Reserving the company name by obtaining a certificate of name reservation
The applicant company must first verify the availability of the company name and then reserve the name. This is done at the Legal Entities Registrar of Maputo (Conservatória do Registo das Entidades Legais). It will take 1 day to complete.
Validating the signatures on a contract and receiving Articles of Association
Partners of the applicant company will need to sign a written contract before a notary. Then, the Articles of Association can be issued. This can be done at the notary’s office, the one-stop-shop (Balcão de Atendimento Único) or the Legal Entities Registrar (Conservatoria do Registo das Entidades Legais).
Opening a bank account
The applicant must then open a bank account to deposit the share capital and also to make payment for registration fees.
Registering the company
Mozambique company registration is done at the official company registry known as Conservatória do Registo de Entidades Legais or CREL. The registration fees will vary according to the capital. There will also be a fixed fee for publication of the Articles of Association on the official gazette (Boletim da República).
Registering for taxes and obtaining a unique tax identification number (NUIT)
The applicant company can register at the Tax Department (Repartição de Finanças) to obtain their tax identification number. The process will take 2-5 days on average and involves no fee.
Applying for a simplified operating license
A simplified operating license (lincenciamento simpli cado) can be obtained by some sectors and will involve filling a form and providing some paperwork before the license can be obtained. This step may not be required by certain companies after the Mozambique company registration is done.
Declaring the commencement of operations
For VAT and corporate income tax, notification of the commencement of operations must be submitted 15 days before commencement to the tax department of the appropriate district. Some paperwork will need to be filed and an authenticated copy of the operating license needs to be shown.
Declare the beginning of the activity and register job candidates at the provincial employment centre
In order to register employees, the employer must request work cards within 30 days of the start of employment agreements, submit a schedule of work hours, and declare the employment of national workers in 30 days of the start of their respective employment agreement. Additional paperwork is required for employers that have more than 10 employees.
Register workers with the social security system
This must be done within 15 days of the commencement of operations and within 30 days of the start of employment agreements. A special form must be filled out for each employee and submitted to the Social Security Institute (Instituto Nacional de Segurança Social) within 15 days of signing the labour contract, accompanied by other employee and company documents.
Subscribe to a workers’ compensation insurance coverage
Life insurance (seguro colectivo) is legally required by Article 231 of Decree 21, 2007. Companies must, therefore, provide their workers with life insurance for risks not covered by the social security system.
Contact Us Today
If you are interested in company registration in Mozambique, 3E Accounting is the right choice for you. Our partner firm in Mozambique ensures that we have the most effective and up-to-date information to ensure your success, while our effective and high-quality work will make sure that the results are quick and thorough.
Contact us today and let us take care of all the procedures so you can devote your valuable time to achieving what you deserve.