Company registration in Lesotho is handled by the Ministry of Trade, Industry, Cooperatives, and Marketing’s One-Stop Business Facilitation Centre (OBFC). The OFBC is an online company registry system that enables doing business with the company register easier, faster, more transparent, and user-friendly. Stakeholders such as the business community, government legislators, and the general public can access the company register (private, public, non-profit, and international companies) and file registration forms online. Public, private, non-profit, and external enterprises are several types of companies that can exist in Lesotho.
The name of the company is one of the most significant factors to consider when forming and registering a business. A company’s name should not be ambiguous, misleading, or derogatory. Unless the holder of trademark consent, the company name cannot be identical to a name registered in Lesotho, or any well-known trade name or trademark. The following words must not be included: State, Empire, Royal, Dominion, Crown, Government, Imperial, Commonwealth, an international institution, or a term or words implying that the company is supported by the Lesotho government. Before applying, applicants are recommended to check the company registration to verify if the name they seek is available. If the name you want is already taken, you’ll have to choose another. This can be done both online and off.
Lesotho’s Online Company Registration Process
Online company registration in Lesotho takes the following process:
Create an online account
This is a simple and quick procedure to follow. In the Companies Register, click “Register as a New User.” To register as a user, simply fill in your information, including your username and password. Your registration information will be confirmed by email. You are now ready to receive Authority over the company after completing this general registration. You will be granted Authority to submit future filings if you incorporate a new company online.
Getting your business registered
Enter your username and password in the Companies Register. Then send an application to form an internal corporation. Select the type of business under Online Services. Provide the necessary information and documents: Directors Consent Form for each director, Identification Document for each Director and individual Shareholder, Rules (where standard model rules do not apply), List of Shareholders (Form 1A / Form 1B), and Tax Document, then press the Submit button. Articles, translations, and certificates of Incorporation in the home jurisdiction would be necessary for external corporations.
Creating a Savings Account
A charge is required for the majority of documents submitted for registration. Clients can only use a Deposit Account to pay for their online orders. A Deposit Account, also known as a Pre-Paid Account, allows a client to deposit money before using it to pay for services. MTICM Finance Team opens a deposit account. Clients who submit documents for registration online will see a payment confirmation on their screen. They can also visit the OBFC Finance Office to make regular deposits into their account.
Pay fees
An application to register an internal company costs M500, whereas an external corporation costs M1000. Both internal and external companies must pay M30 to reserve a name. Your application is forwarded to the Lesotho Revenue Authority, which will issue a tax number, as well as be examined by MTICM officials. A Certificate of Incorporation (including tax number) will be emailed to you after your application has been approved. You can reserve the company name at the same time as incorporating the business. You could also reserve the company name independently.
For paper filings:
- Submit a proposed name together with an M30 fee;
- Fill out Form 1: Internal Company Registration Application;
- 1A / 1B Complete the form (List of Shareholders);
- Fill out Form 8 for each director;
- Provide a copy of each Director’s and Shareholder’s identification documents;
- Establish Rules (if standard model rules do not apply);
- Shareholders’ List (Form 1A / Form 1B).
For an external company, additional documents are required: a copy of each director’s identification document, a power of attorney appointing the person accepting service on behalf of the company, and the company’s constitutional documents from a foreign country, which must be translated and certified by a notary public if they are not in English. The charge for registering an Internal Company is M500, and for an External Company, it is M1000. Your application is forwarded to the Lesotho Revenue Authority, which will issue a tax number, as well as be examined by MTICM officials. A Certificate of Incorporation (including tax number) will be mailed to you or available for pickup once your application has been approved.
