Tanzania is an independent country located in East Africa and bordering on Kenya, Uganda, Republic of Congo, Malawi, Zambia, Rwanda, and the Indian Ocean. In addition to the mainland part, Tanzania includes tropical islands: the Mafia and Zanzibar.
If you want to register a company in Tanzania and open an account with Tanzanian bank, then note that:
- The state is a member of the Commonwealth of Nations;
- The capital is Dodoma;
- A currency is Tanzanian shilling (TZS).
- Official languages are: Swahili and English.
- Tanzania has very cheap electricity and unskilled workers.
To learn more, please ask for qualified advice on company registration procedure in Tanzania from YB Case experts. Also, we can provide you with professional advice on how to open a corporate account with a Tanzanian bank.
Leading economic sectors
If you are intended to start a business in Tanzania, then we propose you to consider the following options:
- Registering an agricultural company in Tanzania. Coffee, exotic fruits, tropical varieties of cereals and nuts are grown here;
- Setting up a mining company in Tanzania. The extraction and processing of raw materials (diamonds and other precious stones, ferrous and non-ferrous metals) and gas production in Zafarani;
- Opening a Tanzanian energy company (hydroelectric power);
- Setting up a service company in Tanzania. The service sector is half of GDP;
- Opening a production company in Tanzania (food production);
- Registering a Tanzanian tourism company.
Also, it can be profitable to register an export company in Tanzania, since the government reimburses entrepreneurs half the cost of aircraft, machinery and vehicles.
Legal forms & tax treatment
If you want to set up a company in Tanzania remotely and open an account for a Tanzanian company, then we recommend you taking into account the following legal forms and tax conditions.
|
Legal form |
Corporate tax |
VAT |
Minimum share capital |
|
LLC (Private LLC) |
30% |
18% |
8 USD |
|
SEZ company |
0% for 10 years |
0% on export, 18% otherwise |
8 USD |
|
Tourism company |
30% |
0% |
8 USD |
|
LLP |
30% |
18% |
8 USD |
|
RO |
0% |
- |
8 USD |
Most investors choose to register a LLC in Tanzania.
If you have questions about the tax regime or the choice of legal form, you can ask for personal advice on the business process in Tanzania from YB Case professional team.
Registration requirements
Those, who are planning to open a company in Tanzania, must fulfill the following conditions of regulator:
- Two directors and shareholders of any nationality;
- A unique company name;
- A company secretary.
Registering a Tanzanian company will take about 5-7 weeks.
If you decide to set up a company in Free Economic Zone in Tanzania, it will take up to 3 months.
How to open a business in Tanzania
If you are interested in opening a corporate bank account in Tanzania remotely, our specialists can provide you with professional advice on the account opening in Tanzania? and we recommend you pay attention to the following reliable banks:
- Stanbic Bank;
- Akiba Commercial Bank;
- Standard Chartered Bank;
- Ecobank;
- Barclays bank;
- Accessbank.
For more information, you can ask for individual advice on company registration process in Tanzania from YB Case experts.
In addition, we can provide you with support services in registering a local office in Tanzania and preparing all the necessary documents.
