Private company (Pty) LtdNamibia
What it takes to form, own and run a private limited company in Namibia, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
Quote
Every public company must have at least two directors and every private company must have at least one director.
The registry’s and the law’s own pages do not mention it.
Form it
Who registers it
- Registry
- Formed without visiting
- Not stated
The registry’s and the law’s own pages do not mention it.
- Formed online
- Not stated
The registry’s and the law’s own pages do not mention it.
What it takes to form
- A notary
- Required
- A resident director
- Not required
- Paying up the capital
- Not in our records
Own it
Who may own and run it
- Directors
- At least 1 · individuals only
Quote
Every public company must have at least two directors and every private company must have at least one director.
- Shareholders
- At least 1 · at most 50 · nominees allowed
Quote
typically limited to a maximum of 50 shareholders
- Members
- At least 1 · at most 50 · one person may form it alone
Quote
or any one person, where the company to be formed is a private company with a single member, may, for any lawful purpose, form a company having a share capital
- A local company secretary
- Not required
Quote
must be signed by one of the directors and the secretary, if any, of the company
- A local registered agent
- Not required
Quote
Every company, including every external company, must have in Namibia - (a) a postal address to which all communications and notices may be addressed; and (b) a registered office
Each year, at the registry
- Annual registry fee
- NAD 120
Quote
Annual duty CM23 N$120.00 N$80.00
- Accounts on the public record
- Not stated
The registry’s and the law’s own pages do not mention it.
- Audit for a small company
- Required
Quote
A company must, at every annual general meeting, appoint an auditor or auditors to hold office from the conclusion of that meeting until the conclusion of the next annual general meeting of the company.
- Audit
- Every company must appoint an auditor at each annual general meeting (Act s.278(1)); the sections of the Act that mention exemption (s.14, s.306(6), s.314) do not exempt small companies from audit.
Quote
A company must, at every annual general meeting, appoint an auditor or auditors to hold office from the conclusion of that meeting until the conclusion of the next annual general meeting of the company.
Important dates
When each obligation falls due, as the authority states it.
- Lodgement of annual return, form CM23, with the annual duty
- 1 month after the end of the accounting period
With BIPA
Companies Act s.181(1): the annual return is lodged not later than one month after the end of the financial year, with proof of payment of the annual duty (s.181(5)). Non-working-day shifting is not stated.
What is public
- Directors
- Public
Quote
any person may, on payment of the prescribed fee - (a) inspect the documents lodged under this Act with the Registrar;
- Shareholders
- Public
Quote
any person may, on payment of the prescribed fee - (a) inspect the documents lodged under this Act with the Registrar;
- Beneficial owners
- Public
Quote
any person may, on payment of the prescribed fee - (a) inspect the documents lodged under this Act with the Registrar;
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Flat · 32%
NamRA's income tax page lists a 'Corporate Tax Rate' of 32 % under 'Companies' (table headed 2018 / 2019); mining companies are taxed at other rates (diamond 55 %, other mining 37.5 %).
Quote
COMPANY TAX RATES 2018 / 2019 Corporate Tax Rate 32 %
Work it out on a profit figure: the company’s tax, the owner’s, and what is left.
- CFC rules in Namibia
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
Not in our records Route, Statutory fee: none of these is in our records for the Private company (Pty) Ltd.
Every business in Namibia
VAT
- Standard rate
- Not in our recordsThe tax authority’s pages have not been read for Namibia.
Payment and banking services
None of the services whose lists we hold names Namibia. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Private limited companyDerived our grouping, the same words in every country
- Name in law
- Private company (Pty) Ltd
- Identifier
- NA-PRIVATE-COMPANYA form ISO 20275 does not list.