Because of the numerous recent political events in Afghanistan, a majority of the world population is familiar with Afghanistan. Particularly in light of the changes in governmental leadership, this is accurate. You might want to give Afghanistan another look, though, as it has the potential to grow into a major economic force. Natural resources in the country, including an abundance of oil and gas, support investors’ choice to incorporate in Afghanistan. Afghanistan may have experienced some difficulties, but the country is still open for business.
Afghanistan corporation incorporation
Investors looking to register a business in Afghanistan may also choose to register a corporation as an alternative to setting up an LLC. This applies if you are considering starting a business that you may want to open to the general public at some point while it is operating. In Afghanistan, a corporation must have at least one director and two shareholders, just like a limited liability company. Additionally, a board of directors and a resident company agent are required. Make sure the company name is the top priority, along with the address, memorandum of agreement, notary seal, trade authorization, VAT (value-added tax), and any other permits needed to conduct foreign business.
A joint venture is a business partnership between two parties from Afghanistan and a foreign party that is permitted under Afghan law. Don’t forget to provide the administration with a copy of the investor’s passport, a photo, and all relevant information. Submit tax returns, annual reports, and director information to the authority on time to demonstrate that you are a legitimate businessperson. Follow the ratio of non-resident workers to the registration of foreign companies in Afghanistan.
Banks in this state are willing to work with non-resident investors to open accounts or apply for credit.
Afghanistan’s procedure for registering businesses
Here is a summary of Afghanistan’s company registration procedure:
Letter of referral to the ACBR
The first step in registering a business in Afghanistan is to take a referral letter from the Trade License Office, ASIA, to the Afghanistan Central Business Registry, or ACBR. Any other licensing division. The following specifications should be included when submitting the referral to ACBR:
The online business application form provided by ACBR
A copy of the company president’s passport or its equivalent for the vice president.
colored passport photos in two sets of the company’s vice president and president.
Constitutional documents.
Tax identification number issuance
The issuance of a tax identification number is the following step in the registration of a company in Afghanistan after the successful registration of a business profile. It is a ten-digit, unchanging, permanent identification number. Anyhow, when it expires, you will need to renew it.
Posting in the official journal
Following the issuance of the PIN certificate, the ACBR office will compile the new business’s specifications and submit them for publication in the Official Gazette. Among other things, the publication in the Gazette will contain:
- The name of the business.
- Its initial capital, as well as the kind of operations or activities it will be carrying out.
A registration certificate is received
You’ll receive a certificate of registration from the authorities. The business must keep this certificate on file for record-keeping purposes as it has no expiration date.
Acquire a business license
You will receive a memo from the relevant licensing officer after the registration process is finished. This shows that the company has been properly registered, issued a TIN, and published in the official gazette.
Conclusion
Understandably, foreign investors are still on the fence about committing to Afghanistan. After all, there have been numerous political changes in the nation. The good news is that you can seize this chance to break new ground in the Afghan market. To register a business in Afghanistan and then see it through to profitability will require guts, knowledge, talent, money, and energy. Both new business owners and seasoned entrepreneurs may see this opportunity and decide to take action soon.
