Understand the Jurisdictions Setup Requirement Before Proceed Your Company Registration in Namibia
Many are living on the wrong impression that African countries, particularly Namibia is not a good place to do business. On the contrary, it is. In fact, it ranks among the top sub-Saharan states with an above-average per capita gross domestic product (GDP), fuelled by its government’s economic policy easing company registration in Namibia.
What makes it more attractive is the economic perk offered by its government wanting to boost its productive sector amid an inadequate capital stock. In fact, this means ease of doing business in Namibia.
Web sources hinted on its government’s efforts to lure in foreign commitments seen to boost investments in its major industries.
Among Namibia’s top industries include mining, manufacturing, agriculture and fisheries. These are the major industries that have shown rapid growth.
Major Industries in Namibia
History and its geographical attributes see this sub-Saharan state as a region where natural resources are of abundance. Except for agriculture, which is considered seasonal because of the high temperature in Namibia, all other three major industries appear promising.
Allow us to make a synopsis for the thriving industries worth venturing into.
The extreme weather condition in this part of the African continent has not been fairly good for farmers. That is the very reason why most of them have shifted from planting crops to the exportation of live stocks, specifically the Karakul sheep and beef. There are still a handful of farmers into crop-raising. There is still hope though as the government has put in place a calibrated rural development program, but results will have to wait longer.
The fishing industry may not be as lucrative as it is amid depleted stocks. However, fishing appears promising in a few more years with the government program replenishing what has been lost in its aquamarine resources. This particular industry is open for food processing entrepreneurs vying for company registration in Namibia.
Africa is best known for its mineral resources from where Namibia gets 30 per cent of its gross domestic product. With mineral resources in abundance in this sub-Saharan country, more businesses – local and foreign, are finding ways to get into what is deemed as the lifeblood of Namibia. Among its precious finds include diamonds, gold, uranium oxide, natural gas and base metal. Furthermore, interestingly Namibia supplies 30 per cent of the world’s diamond demand. So as Uranium production and natural gas fields. What Namibia doesn’t have are big-buck investors who can bankroll in its development.
This particular industry accounts for five per cent of Namibia’s gross domestic product. There is lots of room for new businesses under this sector complementing livestock and fishery industries. Namibia’s manufacturing industry also embarks on processing, brewing, and metal fabrication, aggregate products, chemical processing, among many others.
Namibia’s contour and diversity are what made this sub-Saharan country a stand-out. Namibia’s coast in Etosha and the Fish River Canyon has all the potentials of a remarkable tourist attraction. This is where the business comes in. Namibia needs businesses which could help the government develop its potential of becoming a world-class tourist attraction which translates to more investments and jobs for local folks.
Finance and Trade
There is also a vacuum for banking and financial institutions. It’s quite odd that a country with such precious resources like gold and diamonds doesn’t have much of these. In fact, there are only two commercial banks lording over Namibia – the First National Bank of Southern Africa and that of the Standard Bank Namibia.
Ninety per cent of Namibia’s production of gold, diamond, uranium oxide, meat, sheep furs, base metals and fish are being exported to neighbouring countries. Entrepreneurs vying for company registration in Kenya as traders would be welcome to form part of the thriving business since time immemorial. Exported products go to South Africa and adjacent countries. Thus, taking the Namibian products to other countries has always been profitable in this country.
Why Consider Company Registration in Namibia
Namibia may not be as economically active as Singapore, Hong Kong or Japan. However, it offers lots of rooms for entrepreneurs vying for company registration in Namibia. Namibia’s vast resources have to be tapped, processed, manufactured and exported to far more destinations.
Investors have every reason to consider company registration in Namibia. Allow us to cite a few.
These are two major considerations before investors think about company registration in Namibia. Its democratic system has yielded good governance, which translates to peace and stability. Namibia may not be rapidly growing economically, but its government sees a better future with an investment-friendly economic policy in place.
Business-Friendly Economic Policy
Since its Independence in 1990, Namibia embarked on a legal and regulatory framework. This framework allowed liberalization of investments if only to ensure that they catch up with other African states in getting a slice of the global market embarking on similar commercial products.
Namibia boasts of its stable foreign exchange and the state’s gold reserves.
Namibia is an ideal transit point to the South African Development Council’s regional market. Even, it has a railway system, decently road access and air infrastructure.
Namibia’s geographical location is deemed essential for sea transport of goods. It has an efficient ISO Certified Port.
Aside from structural and geographical accessibility, it also has an efficient telecommunications system apt for online business forms.
The ease of doing business and easy company registration in Namibia are among the many proofs of its streamlined bureaucracy embarking on efficiency and transparency.
Namibia is not much thought it is. Gone are the days of disarray. Today, Namibia boasts of its land-use and zoning code which took each and every structure in its proper perspective. So, the community has decent housing areas, academic institutions and ample recreational facilities.
Availability of Manpower
Namibia’s local folks, a large chunk of which aptly referred to as young blood, are known for the skills, hard work and dedication. The government’s economic policy on ease of doing business also provides a mutually acceptable wage law.
Second Home for Expats
Expatriates may find this place an ideal place both to live in, study, do business or work.
We’ll Take You There
Investments are basically designed to earn big bucks. Besides, this premise alone should be enough reason to consider company registration in Namibia, where gold, diamonds and oil are of abundance. For those who are not into mining and oil exploration, there is also a promising future in the manufacturing and logistics industries.
More than profitability is the government’s business-friendly economic policy which makes company registration in Namibia as easy as A-B-C. However, sheer knowledge on it may not be able to take your business where you want it to be.
Entrepreneurs are advised to seriously consider tapping the services of a business advisor with a track record of excellence, efficiency and economy.
3E Accounting maintains a dynamic team of professionals with the capability to register a company in Namibia effectively, for less. We guarantee results or your money back.
For more information about our Namibia incorporation services, contact us.