Understand the Jurisdictions Setup Requirement Before Proceed Your Company Registration in Mozambique
It has never been easy to register a company in a different country and Mozambique is also included. It is continuous growth in the economy with the likely possibility of being a world-leading exporter of coal and natural gas in the near future. But the utmost poverty affecting the majority of the population causes limited market opportunities. Fortunately, the steady economic growth still makes registering a company in Mozambique a potential business expansion for entrepreneurs.
Company Registration in Mozambique
Before going to the detailed process of company registration in Mozambique, make yourself knowledgeable on the two types of corporations that can you can consider to register:
Limited Liability Company (LLC)
- A minimum of two shareholders is required for incorporation.
- Does not require minimum share capital.
- An LLC can also be managed by one or more managers.
Branch of a Corporation or Company
- This has to be registered with the Ministry of Commerce and Industry.
- The objective is usually to execute a specific contract and the activities permitted under the license granted are restricted to the contracts.
You should acquire a license that you can operate a business in Mozambique which can get from the Permit. It is a one-stop solution (BAU) launched by the Ministry of Industry and Trade. It takes 5-8 weeks for the process of incorporation. Then, it takes 2-3 days to open a corporate bank account. It’ll cost approximately USD20,700 to set up. A physical office isn’t required. Remember that the corporate tax rate is 32%. Under Mozambique law, foreigners can own 100% of the company. The requirements are Memorandum and Articles of Association and a tax registration certificate.
Why Invest in Mozambique?
The economy growth in Mozambique is a huge benefit for entrepreneurs and business owners alike. A growing economy is an ideal picture for potential entrepreneurs. The oil and gas industry is also a pretty good reason to invest. Mozambique is the third-largest holder of liquefied natural gas (LNG) in Africa. It is an open investment opportunity around natural gas abound in areas like supplying the equipment and infrastructure required in manufacturing LNG. It has commercially important deposits of coal, ruby, graphite, etc.
Today, a business from Brazil has made major investments in a coking coal mine, which has led to further investments from Australia and India. There will be a growing demand for Mining and refinery equipment, maintenance services and machinery, automation equipment and other efficiency-improving services, thus providing investment opportunities for companies with such expertise.
Tourism has been a vital source of business and decrease of poverty in Mozambique. It boosts competitiveness, expand economic opportunity and provide a pathway to a greater and better future. Commercial tourism gives chances for locals to get a direct-employment and providing services to tourism-related businesses through direct interaction with the tourist. Also, it applies the unilateral method to prevent double taxation of income to resident companies and the permanent establishment of non-resident companies.
The process of company registration in Mozambique is easier when we go to the detailed steps. We help you cope up in the economy and to set up business in Mozambique, contact us if you have any questions or clarifications.