In this post, I am going to look at the simple process of “how to register a company” in Botswana. We come across a good number of people who think registering a company is a lengthy, complex, and expensive exercise. This in part is due to a lack of access to information, not enough research, and some bad apples in the industry. So let us demystify it!
Have a look at The difference between a Business Name and Company registration, if you are not sure how they differ.
1. Pick a Relevant Name
This is the most important exercise you can do for your brand. Unfortunately, many people overlook this step (beware of this rookie mistake). Put some time, thought into this decision, and pick a name that thoroughly represents your business activity. For example, Royal tailors. Having the right name will reduce your company’s marketing and running costs in the long term.
2. Register with CIPA
Do it yourself
Please note: This step is a service offered by company secretaries. I urge you to consider hiring a trained and experienced professional to save time and create local jobs.
Once you have registered your business on the CIPA website, CIPA gives you 3 months grace period to appoint a company secretary. If you do not fulfill the appointment within the grace period, your business registration is be purged from their system.
3. Appoint the Right Company Secretary
Company secretaries come in different shapes and sizes. Like The Brand Business, some practices offer secretarial services as related services and others as an area of specialization. You need to ask what the company secretary is bringing to the table. What other services do they offer that will help your business grow and succeed beyond the appointment with CIPA?
Please pick the best secretary for your company goals.
4. Open a Bank Account
The next step is to open a bank account. You need a business bank account to register for tax with BURS and to trade reputably in the market. You need to pick the right business banking partner for your business. Please insist on spending the least possible time at the bank, choose a bank with an online platform and a bank with credit card security.
5. Register for Botswana Revenue Services (BURS)
The Botswana unified revenue service (BURS) is the Botswana government’s tax collector. Contact your secretary for this process or inquire with BURS about the steps.
6. Register for PPADB
The Public Procurement and Asset Disposal Board (PPADB) registration is optional and depends on your industry and type of business. For example in the construction industry, companies need a PPADB registration and relevant codes are required for consideration for government projects.
7. Trade License
The local councils (By-law Office) in your area issue trading licenses. This is conditional depending on the type of business and industry you are in, especially with recently (as of 2020) updated trade guidelines by the ministry of trade and industry. For example, the advertising industry does not need a trading license to operate (worldwide).
A few key things to remember :
- Choose relevant name
- Company registration
- Open a bank account
- Appoint a company secretary
- Registering with the BURS
Do you need help with starting or growing your next business in Botswana? Starting a business in an emerging market can be exciting. Looking for information, knowing where to start can be a challenge. We understand that.
We to empower you with the tools need to start, grow and lead in the Botswana market. Email us at email us or contact us.