Its economy has experienced rapid industrialization due to a successful governmental policy, and the lifestyle in Rwanda has gotten better. This quick-developing country seems like a good place to start your own company. The business enrolment procedure is presumably the easiest in the world, and that’s why a lot of people choose Rwanda as their starting point. It’s a safe investment country in sub-Saharan Africa. It has been ranked 38 among 190 economies in the ease of doing business according to the current World Bank periodic conditions. A document of registration is delivered in six hours. The RDB business enrolment service also allows enrolment for levies and workers’ social security.
The following types of companies can be registered in Rwanda
The Rwanda Company Act recognizes four types of companies that can be formed although, in practice, only two are substantially used that is:
- Limited Liability Company.
- Public Liability Company.
Registration of a Public Company
- Make an operation for a reservation regarding the name.
- Upon payment of the needed amount, the suggested name is subordinated to a search in the business registry database.
- Once the name passes the similarity, protective, offensive, and advisability tests, it’s reserved.
- Upload the needed document for registering a company.
- The articles of the association will need to specify that the company shall invite the public to subscribe for shares.
Registration of Foreign Companies
- Upload memorandum and Articles of Association or any other document certified by the Registrar of Companies in the country of origin.
- Upload a certified duplicate concerning the document of incorporation.
- Make the payment for the registration amount and hand in the documents for processing at the business registry.
- The enrolment process begins.
The article of association and memorandum should comprise:
- Company’s name.
- Address.
- Object clause.
- Share capital.
- Class, value, and several shares.
- Provision for the signed signature.
- Must be dated and witnessed.
- Where the subscriber to the memorandum is a commercial reality, the seal for the company is added.
The papers about Association give the following information:
- It must be written by the subscribers.
- It must state the subscriber’s name, occupation, and address.
- It must be dated and witnessed.
Process of Registering a branch of a foreign company
Conditions
- Power of attorney to present the company in Rwanda. (Notarised)
- A properly authenticated duplicate of the memorandum Articles of Association. (Notarised)
- Certificate of Registration/ Incorporation issued by the enrolment authority in the country of incorporation. (Notarised)
- Notarised resolution from the formal agency authorizing the opening of a branch.
- Passport duplicates for the shareholders/ directors.
- List of directors staying in Rwanda (at least One)
- Eligibility.
- Any person who sets up a business or other actions that may be taxable must register with the Tax Administration. Taxpayers must have an account with Rwanda Revenue Authority
Fees
The cost of notarizing the Papers and Memorandum of Association is arrived at by applying the following formula, Rwf 800 number of sheets x number of duplicates plus Rwf 2500. Any person who carries out taxable actions exceeding twenty million Rwandan Francs (RWF) in the prior fiscal year or five million Rwanda Francs (RWF), in the proceeding calendar quarter, is needed to register for VAT with the duty administration within seven (7) days from the end of the year or the end of the quarter mentioned above.
Registration or operation forms are available in two (2) languages, and thus you’re advised to fill the form in the language you understand best to avoid mistakes.
Duration of registration
Still for you to register your Company in Rwanda you need to have a certain minimal quantum of funds in your bank account. It takes one to two (2) business days to register your company in Rwanda starting from the day of submitting your enrolment documents.
The enrolment must be within seven (7) days from the start of the business or exertion or the establishment of the company further, The Rwanda Revenue Authority (RRA) is a public sector agency in Rwanda, created by law and eventually accountable to the congress. The government of Rwanda provides the legal and policy framework within which the Rwanda Revenue Authority (RRA) operates and provides the association’s political support and legality. Rwanda Revenue Authority’s primary thing is to collect domestic earnings that are distributed through the Treasury to different departments.
