Starting Business
Flow Chart
Form and incorporate a Company (12 days)
Business Procedure Flow Chart
Open Bank Account (7 days) Register with Private Sector Assoc. (30 Days)
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Form Partnership (7 days)
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Business Name Search (3 Days) Register Business Name (2days) Are Permits and Licenses Required? Register for Tax (2 days) Register for Social Security (1 day) Start Business
Yes
Apply to GIDC (30 days) 440-1035 Are Incentives required?
No
Yes
Apply to PMO 440-2255 Is Alien Landholding License Required?
No
A company is not legally required to have a constitution. If the company has a constitution, it is generally filed at the time of incorporation. However, notice of the adoption of the constitution does not have to be filed until 10 working days after the constitution is adopted PROCEDURES 1. Register the business name 2. Prepare and notarize Company Statutes 3. Register the company with Supreme Court Registry 4. Register the company for taxes 5. Register the company for social security 6. Make company seal 7. Open bank account 8. Apply for permits and licenses COST The cost to set up a company is as follows US$1,369(local registrant) US$1,848(foreign registrant) • Business Name Registration Certificate US$4 • Filing Fee US$442 • At least one shareholder • At least one director • A registered office • An address for service
Yes
Apply to Ministry of Labor 440- 2532 Is Work Permit required?
No
Yes
Apply to physical planning & Dev. Authority 440-2471 Is Building Permit required?
No
Yes
Apply to Ministry of Finance 440-2101 Is Trade License required?
No
Apply to Ministry of Health 440-2649
Yes
Is Health & Safety Inspection required?
No
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