How to open a safari business in Botswana
Have you been won over by this large country in southern Africa, covered in deserts and rich in flora and fauna? Botswanaa unique place that is very popular with families thanks to its famous safaris The country is a great place to visit, both on land and in the water, and to see a wide range of landscapes and animals. But it is not only tourists who are attracted to this country, several young entrepreneurs wish to open a business in Botswana. As the fifth richest country in sub-Saharan Africa, Botswana offers very favourable tax treatment.
Security in Botswana
Security is an important consideration when entering and starting a business in any country. Fortunately for you, the Botswana is a cosmopolitan and peaceful place with an excellent quality of life. Apart from that, it is considered theone of the safest countries in Africa and has a low crime rate. It also has practices in place that ensure the investor protection and is among the least corrupt countries in the world.
Opening a safari business in Botswana: formalities
You wish to create a safari subsidiary in Botswana ? Follow these steps and formalities:
The choice of location and premises
Regardless of the country in which you wish to incorporate your business, you should always consider the location, specifically the your company's registered office. The ease or difficulty of incorporation depends on the subsidiary legislation of each region or state. These have been established to avoid double taxation and to prevent tax evasion and avoidance in relation to income taxes.
These laws also require that an LLC (Limited Liability Company) have at least one resident director. In contrast to other countries, the Botswana does not require a minimum paid-up share capital, but your company must have a registered office and a secretary. You must also register your company's name and title with the Register of Business Names and submit your audited financial statements within five months of the end of the year of your incorporation.
Reserving your company name
This is done in two steps with the Botswana Registrar of Companies and Intellectual Property (ROCIP). At the first stage, ROCIP requires the payment of a reservation fee which allows you to have Form 1 for your company name and Form RBN 1A for the business name.
The second step contains all the requirements for company registration, which you will find in the registration forms available on the Ministry of Trade and Industry. Please note that your company name will only be valid for 30 days and only when valid reservations are accepted. Otherwise, you will have to make a new reservation and go through these processes again.
Obtaining the tax identification number and industrial licence for foreigners
You will get your tax identification number by registering your business for VAT (Value Added Tax). The registration of tax payments is done by the Botswana Unified Revenue Service (BURS), a semi-autonomous body located throughout the country. To register for VAT, you need to fill in a form that can be collected directly from the offices of BURS or download from their website. Registration usually takes 5 days. Once registered, you will be considered a taxpayer and will have a TIN (Trader Identification Number).
As for the industrial licenceIt is issued by theIndustrial Licensing Authority (ILA) and the Regional Licensing CommitteeThis is valid for an indefinite period of time if you comply with all the conditions at the time of delivery. To find out about the steps and requirements for obtaining it, as well as the formalities and payment methods, please download and complete the online application forms available on the Department of Trade and Industry website.
The SIIR signature
The SIIR is a certificate of compliance with the Botswana Import Inspection Regulations. It has been established to reduce the risks associated with unsafe and non-compliant products entering the Botswana market. By signing this document, you guarantee that your products comply with all regulatory requirements.
Opening your business bank account with a Botswana bank
The country is full of financial institutions where you can open your business account BancABC, Bank Gaborone, Bank of Baroda, Capital Bank, etc. It is up to you to choose the one that suits you and may be near your premises. Just be aware that whichever one you choose, certain information, requirements and documents are required such as application forms which must be countersigned by your company secretary. There are also company forms, bank licence, identification and address documents...
Recruitment of employees
Of course, the creation of a company always involves the recruitment of employees. The laws of Botswana require that an employee should not work more than 9 hours a day in a 5-day week or 8 hours in a 6-day week. They must also have 24 hours off every seven consecutive days, usually taken on Sunday. Overtime is 1.5 times the normal hourly rate and public holidays are paid double.
When recruiting, make sure that the person you choose is a perfect match for the job. On the other hand, during the selection process, you must not discriminate in any way, as this is totally prohibited in the Botswana.
With regard to integration, Botswana's laws do not require any specific way, but you just need to draw up a proper employment contract and provide your employee with the necessary vocational training. The employee must also be registered for social security and insurance.
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