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Understand the Jurisdictions Setup Requirement Before Proceed Your Namibia Company Registration
Namibia is a fascinating area in Southern Africa, with untapped potential and entrepreneurial spirit. Blessed with wonderful nature and vast natural resources the country is ideal for setting up a business. Besides, Namibia Company Registration is simple and prompt as the country is known as “optimistic Africa”. It possesses one of the most friendly, peaceful, and economically stable cultures in the region and infrastructural facilities that beats many industrialized countries.
Moreover, the passion, dedication, and perseverance of the people towards entrepreneurship are exceptional. Thus, For a knowledgeable investor, Namibia provides a variety of rare opportunities.
Aside from that, there are several reasons to register a Namibia company, and below are some examples.
First and foremost, Namibia has stable foundations for a democratic system, effective governance, security, and stability. The nation has well-functioning institutions, a legal system, and an autonomous judiciary. More importantly, there is an eminent observance of preservation of property ownership and the highly praised peace and prosperity in Namibia.
One of the metrics to determine whether a country is ideal for setting up a business or not is its economy. Global economic growth has a positive impact on the development of Namibia’s economy. It produces a ripple effect of growth in high commodities prices and stable and effective macroeconomic policies.
In addition to the progressive Namibian economy, the industrial environment comprising agriculture (livestock production) and natural resources products (rare metals, fishery, etc.) are equally important. Along with that, the tourism industry continues to flourish in the leading-edge. Yet, all the advancements don’t end there; the country developed limited manufacturing bases and effective political systems to encourage foreign investments.
Essentially, Namibia has a professional and well-developed company law structure and a diverse informal economy. In doing business in Namibia, various essential services are marketed and managed by the government. These services include telecommunications mail providers, water, electrical, transportation, ports, and airline operations. Also, private enterprises, small to medium-sized, are an important part of the economy.
Global Trade Relations
Next to Namibia’s industry framework is the country’s global trade relations. Namibia is one of the 12-country members of the Southern African Development Community (SADC) in Southern Africa. This means that the nation is under Africa’s biggest trade and cooperation agreement.
Policy on Taxes
Likewise, Namibia’s tax system provides different exemptions. These exemptions are not only attractions to international investors but also opens Namibia to targeted businesses.
Labor Attitude Towards International Investment
Another important reason you should set up your business in Namibia is its labour attitude towards International investments. Labor attitudes are always responsive when international investments create jobs with salaries and labour conditions similar to the business market. In Namibia, since labour unions are strong, extra attention must be given to maintaining good employment relationships.
Benefits for Exporters / Manufacturers
In addition to the reasons mentioned above, Namibia’s employment benefit systems are intended to offer a competitive advantage to Namibian-based enterprises. Such taxable and non-taxable benefits are available to current and new manufacturers. These benefits will result from manufactured products in all industries, like local value-added production of Namibian mineral resources, seafood, and agricultural goods exported in the original form. Exporters also have tax benefits when shipping manufactured products from Namibia.
Finally, the requirements for general licenses and registration to do business in Namibia are quick as thought. However, it is better to ask for clarification from the authority(s) involved based on a particular matter.
The Government of Namibia seeks to help businesses get started by facilitating the needs of startup companies. 3E Accounting has supported several startup enterprises in Namibia to grow by offering company registration solutions. Please feel free to contact us if you plan to set up your business in Namibia.