Third-party fees not regulated by Bipa
The cost of registering a business with the Business and Intellectual Property Authority (Bipa) is not exorbitant but may occur when private parties or consultants are appointed.
Minister of industrialisation and trade, Lucia Iipumbu, said this in response to questions posed in parliament with regards to the cost of registering a business in Namibia and the unnecessary paperwork involved that could instead be streamlined and done online.
She said Bipa is continuously working to improve its internal processes and procedures to facilitate the administration of business registration and make doing business easier.
She said that all forms that are completed by clients are done so for record-keeping purposes and contain important information that is pertinent for Bipa to complete the registration of a business.
"An online platform called the Integrated Client Service Facility exists for reserving a name and registering a CC/founding statement. However, the platform is currently temporarily inaccessible due to IT challenges, which are at an advanced stage of being resolved."
Unregulated
Iipumbu said that business registration, in the meantime, can be done at the Bipa offices in Windhoek and Walvis Bay.
The cost of registration is N$225.
The application fees for the registration of companies vary depending on the share capital, the number of directors, and pro-rated annual duties.
The cost for such a company, on average, will not exceed N$700.
"Most times the purported exorbitant costs are a result of utilising third parties or consultants to register businesses on behalf of clients," the minister said.
She said that it is also important to note that the cost of registration by third parties or consultants is not regulated by Bipa and therefore cannot be determined to be a cost by Bipa.
Normal fees
"In addition, there is an annual fee for annual duties that is payable by all registered businesses at the end of the financial year."
The cost for close corporations is N$120 annually.
For a company with a share capital, the amount is based on the number of nominal shares and those with shares of non-par value. This is calculated at N$6 per each N$10 000 part thereof of its issued share capital.
Minister of industrialisation and trade, Lucia Iipumbu, said this in response to questions posed in parliament with regards to the cost of registering a business in Namibia and the unnecessary paperwork involved that could instead be streamlined and done online.
She said Bipa is continuously working to improve its internal processes and procedures to facilitate the administration of business registration and make doing business easier.
She said that all forms that are completed by clients are done so for record-keeping purposes and contain important information that is pertinent for Bipa to complete the registration of a business.
"An online platform called the Integrated Client Service Facility exists for reserving a name and registering a CC/founding statement. However, the platform is currently temporarily inaccessible due to IT challenges, which are at an advanced stage of being resolved."
Unregulated
Iipumbu said that business registration, in the meantime, can be done at the Bipa offices in Windhoek and Walvis Bay.
The cost of registration is N$225.
The application fees for the registration of companies vary depending on the share capital, the number of directors, and pro-rated annual duties.
The cost for such a company, on average, will not exceed N$700.
"Most times the purported exorbitant costs are a result of utilising third parties or consultants to register businesses on behalf of clients," the minister said.
She said that it is also important to note that the cost of registration by third parties or consultants is not regulated by Bipa and therefore cannot be determined to be a cost by Bipa.
Normal fees
"In addition, there is an annual fee for annual duties that is payable by all registered businesses at the end of the financial year."
The cost for close corporations is N$120 annually.
For a company with a share capital, the amount is based on the number of nominal shares and those with shares of non-par value. This is calculated at N$6 per each N$10 000 part thereof of its issued share capital.
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