It is Africa’s youngest country and is seeking to make a different economy after decades of war and poverty. The country, though still facing internal conflict, is committed to creating a business-friendly terrain to attract global investors, especially in major sectors. The South Sudanese government has created a bureaucratic system to attract these investors, similar to the Investment Promotion Act of 2009, which governs investment, and the Taxation Act of 2009, streamlined in 2016.
International Company Registration
The incorporation must go through the below process:
Prepare Applicable company documents in the home country
These documents must be signed by their public notarization office and also taken to their Embassy in that country, or to the nearest South Sudan Embassy to that country for verification and authentication. Later, the document will be transferred to South Sudan. The company must appoint a regional South Sudanese counsel who’ll take these documents to the South Sudan Ministry of Foreign Affairs for further verification and authentication before the documents are transferred to the Ministry of Justice.
Complete the company enrolment
The process can take roughly two weeks to two months, depending on the speed from the company side and regional counsel. Aside from attorneys’ charges, the applicable amount due to the government varies with the current inflation.
Reserve the company name
The entrepreneur submits a standard form with three different business names to check the name’s accessibility. Once it is verified, the entrepreneur can reserve the name, which will be valid for 30 days. This process is now systematic and can be completed on the spot at the Business Registry in the Ministry of Justice and Indigenous Development. The data officer signs the name search form approving the company’s name. Charges are paid together with the amount for carrying the Certificate of Incorporation.
Prepare the company documents with a counsel
The Business Registry requires entrepreneurs to use counsel to draft the Memorandum and Articles of Association, which has to state the company’s goals and list the shareholders of the company with their share’s probabilities, and shareholders’ postal addresses. passports duplicates or nation identification cards must be attached and handed to by the shareholders. The counsel who drafts the paperwork must be an enrolled advocate in the Republic of South Sudan and must hold a valid practicing license for that specific time.
Drafting the Memorandum and Articles of Association can be completed within one day and cost roughly $100 or SSP at the formal rate of the Central Bank of that country
Acquire the Certificate of Incorporation from the Business Registry
The advocate collects the necessary documents at the business registry and obtains the Certificate of Incorporation. The legal counselors are divided into two sections, some for limited liability companies, and others for business names and partnerships. They check the conditioning, capital, and shareholders of the companies. After verification by the legal counselors, the document of enrollment is published and signed by the Registrar.
Get an Operation License
The entrepreneur fills in a form, presents the Certificate of Incorporation, indicates the address of the company headquarters, and pays the charges to the Jubek State’s Directorate of Commerce and Supply. A member from the Directorate should visit the office to confirm its whereabouts, but it doesn’t occur in practice.
The process can take two days and bring $50 or SSP five thousand at the formal rate of the Central Bank of that country.
Register with the Chamber of Commerce
All businesses must register with the Chamber of Commerce in order to get tax duty clearance and conduct certain monetary operations. Also, the Chamber of Commerce document is needed to open a bank account. Only the document of incorporation is demanded to register with the Chamber of Commerce. This process takes two days and costs roughly $50 or 5000 SSP at the formal rate of the Central Bank of South Sudan, apart from the attorney’s charges.
Register with the Ministry of Labor
Part X of the Labor Act of Sudan (1997) establishes that the company must deposit the introductory work and penalties regulations with the competent labor office. The Ministry of Labor approves the contract of the company’s workers. Each year, the Ministry of Labor asks the company to submit a list of its workers. This process takes one day, and while there’s no charge, attorneys’ fees will apply.
