Company Incorporate in Rwanda: A Comprehensive Guide
Rwanda is largely known for its economic growth and business-friendly environment. According to the Ease of Doing Business Index, it’s the second easiest country in Africa to operate a venture.
This article provides a detailed step-by-step guide to help you navigate Rwanda’s company registration process.
How to Complete Company Incorporate in Rwanda
The process of company incorporate in Rwanda is relatively straightforward and can be done with professional help. Here’s how you move on with the process:
Choose a Company Name
Firstly, you need to have the company name approved before proceeding with the incorporation process.There are two factors for this: the chosen name is unique and not already in use by another entity.
The Rwanda Development Board (RDB) can help you check if your name is available. This can be done online or through the RDB’s physical office.
Identify Shareholders and Directors
Most foreign investors choose to start a limited company in Rwanda. In such cases, you’ll need a director and shareholders. The director should be living in the country.
A company can have between 0 to 100 shareholders in Rwanda. They can be nationals, foreigners, or legal entities. 100% non-local shareholding is permitted.
Prepare the Necessary Documents
Here are some documents you’ll need for company incorporation in Rwanda:
- Articles of association
- Memorandum of association
- Notarized copy of the passport or identification card of each shareholder and director.
The articles of association should strictly outline the company’s purpose, shareholders’ rights and obligations, and the internal governance structure. Similarly, the memorandum of association specifies the company’s name, registered address, and share capital.
Get a Registered Location
To comply with the requirements, applicants need to provide a local physical address as the company’s registered address. This address serves as the official location where the company’s legal documents and correspondence will be sent.
Remember, a company can only have one registered address, which should be real. Ensure that you get access to every important document or message sent to this address. After all, this is also where the government will send you its messages.
Register for Taxes
Registering for corporate taxes in Rwanda involves obtaining a Taxpayer Identification Number (TIN) and registering the company at the Rwanda Revenue Authority (RRA). Required documents include the certificate of incorporation, memorandum, articles of association, and proof of identity.
Companies with an annual turnover exceeding RWF 20 million must also register for VAT. Compliance includes filing tax returns and making timely payments. Staying updated with tax regulations is crucial for successful corporate tax registration in Rwanda.
How Much Time Does it Take to Register a Company in Rwanda?
One of the notable advantages of incorporating a company in Rwanda is the efficiency of the business registration process. Upon delivering the certificate of incorporation, the registration is typically completed within six working hours, allowing entrepreneurs to commence their business activities quickly.
Can You Make Changes Later to Your Company Information?
After the registration is complete, shareholders can amend various company details. This includes changes such as company name, address, business activities, directors or board members, share issuance, share transfers, and even de-registration. These changes can be made through a notarized resolution at the shareholder’s discretion.
How We Can Help
3E Accounting can be your trusted partner for a company incorporate in Rwanda. With our extensive experience and understanding of the local regulatory landscape, we provide personalized assistance throughout the registration process. Contact us today, and let’s embark on this exciting venture together.