Setting up a business in Zanzibar is straightforward with the right professional guidance. This guide covers the essentials for foreign entrepreneurs.
Company Types
- Limited Liability Company (LLC): Most common for foreign investors.
- Branch Office: For existing international companies.
- Representative Office: For market exploration.
Registration Process
1. Prepare memorandum and articles of association.
2. Register with the Companies Registry.
3. Obtain tax identification number (TIN).
4. Register for VAT if applicable.
5. Open a corporate bank account.
Key Considerations
- Local partnership: Some business types require local participation.
- Capital requirements: Minimum capital thresholds vary by sector.
- Licences: Sector-specific licences may be required.
- Tax: Corporate tax rate is competitive in the region.