Understanding Rwanda Company Registration: The Complete Process Explained
If you were to look at Africa’s map, you’d realise that Rwanda is positioned in the ‘heart’ of the continent. Located in East-central Africa, Rwanda is known for its lush rolling hills, beautiful lakes, and stunning volcanoes. Also known as the ‘land of the thousand hills”, it shares borders with Uganda, Tanzania, Burundi, and the Democratic Republic of the Congo.
Rwanda’s economy has significantly improved due to favourable government policies, investment in infrastructure and human capital, and a growing private sector. The service sector, which includes tourism, finance, and telecommunications, contributes over 50% to the GDP and is expanding rapidly. Apart from that, agriculture is also a growing industry in the country, accounting for up to 35% of the GDP and employing almost 80% of the population.
Thinking of starting a business in Rwanda? You’re in the right place. This article will walk you through the fundamentals of Rwanda company registration.
Let’s Get Down to Business
Here’s the process of starting a company in Rwanda:
Choose a Business Structure
When starting a business in Rwanda, the first decision you’ll need to make is choosing a business structure. The Rwanda Development Board (RDB) offers three types of businesses: individual enterprises, domestic companies, and foreign companies.
Register the Company
You can register your company in two ways. You can submit your application online via the RDB’s official website. Secondly, you can choose to visit the IREMBO offices that can be found throughout the city. Submit the necessary documents to Board and pay the registration fee. Some of the documents you require for the registration process include a letter requesting the visa, a CV or resume, and a police clearance from your home country that is not older than six months. You will also need an RDB Certificate of company registration, a passport, a passport photo, and a list of locations you have stayed in. Remember that this is not an exhaustive list; more documents may be needed (depending on the type of your business choice).
Obtain Necessary Licenses and Permits
Depending on the nature of your business, you may need to obtain licenses and permits from various government agencies. This would include the Rwanda Standards Board and the Rwanda Utilities Regulatory Authority.
Open a Business Bank Account and Register for Taxes
You’ll need a bank account to manage your company’s finances. Register your company for taxes and obtain a Tax Identification Number (TIN) from the Rwanda Revenue Authority (RRA).
If you are planning to hire employees for your company, you must first register with the Rwanda Social Security Fund. This would allow you to obtain worker’s compensation insurance to hire employees legally.
Need Help With Rwanda Company Registration?
Don’t worry if you need help with registering a company in Rwanda. Our team of multidisciplinary experts is at the top of their field, with years of experience, and has established thousands of companies globally. We’ll guide you through every step of the process and are available 24/7 if you need assistance. So, don’t hesitate – to reach out to 3E Accounting today!