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Incorporating your business in The Gambia offers multiple advantages to all types of business structures as it offers Low to Nil taxation on international trading and Zero withholding tax for shareholder dividends and creditors outside of The Gambia.

Typically The Gambia Tax resident companies are used for one of the following activities:

  • International Trading and Re-invoicing
  • Consultancy Services
  • Holding or Group Structures
  • Investment and Financial Services including  Financial Trading activities
  • Royalty-based Intellectual property
  • Real Estate

Incorporation Procedure

The incorporation process takes 30 seconds and can be completed via our online form.

Tax Resident Companies are incorporated as a Private Limited Company (LTD) and require:

  • At least one director. The director can be an individual or a company. Corporate directors and shareholders are acceptable and the company register is maintained privately to ensure anonymity. The director must be a resident of The Gambia to qualify the company as Tax resident in The Gambia. There are no nationality or residence restrictions for other company directorships
  • At least one shareholder (either an individual or a person). The director is also eligible to act as a shareholder. There are no nationality and residence restrictions for company shareholders.
  • A company Secretary may or may not be appointed. The local agent interfaces with the Government or incorporation authority on behalf of the owners. The secretary may be an individual or a company. There are no nationality and residence restrictions for company secretaries.
  • A registered postal address in the Gambia must be provided at the time of the incorporation. This same address is used as the contact address of the Registered Agent.
  • The company’s Certificate of Incorporation, Articles of Association and Memorandum of Association have to be submitted to the Companies Registry. No other documents are required for incorporation.
    The GBC1 Company will also receive a Tax Residency Certificate from the Company Registry.
  • The Gambia GBC1 must also maintain a trading address and office in The Gambia. A serviced office within The Gambia trade zone district is available.
  • The Gambia Tax Resident companies may also issue dividends and profits from the sale of securities exempt of tax in The Gambia to non-resident shareholders/creditors. However, please note that the shareholder/creditor may be required to pay tax on the income received at the shareholder/ creditors resident tax rate.

Annual requirements

The company may opt to apply for an Audit Exemption Certificate at the time of incorporation to declare to The Gambia Company Registry that the majority of its trade will be outside of The Gambia. Once the Audit Exemption Certificate is obtained, the company is required to maintain accounts but does not have to file audited or abbreviated accounts. The cost of the Audit Exemption Certificate is dependent upon the anticipated turnover of the company and it is advised to apply at the correct threshold as upgrading between thresholds can be expensive.

All Gambian Onshore companies are required to file annual returns.

Registry of Directors and officers need not be maintained by an IBC. If prepared, the registers may or may not be maintained at the registered address of the IBC in the Gambia, however the registers of the shareholders must be maintained at the registered address of the IBC in the Gambia.

Share Capital

There are no maximum or minimum limits or minimum limits for the authorised share capital. The share capital can be in any currency or in more than one currency.

There is no requirement for issued share capital for a Global Onshore Company. An Global Onshore Company may or may not issue shares at the discretion of the director. However, if the shares are issued, the amount must be paid in full. Shares can be issued for considerations other than cash, such as services, properties, shares of another company, etc.

The minimum issued capital may also be one share, with or without par value. Payment of minimum capital is not required. However, if paid, it can be one fully paid share. The Global Onshore Company is also allowed to redeem its shares, which may either be cancelled or kept as treasury shares.

A Global Onshore Company may have the following types of shares:

  • Registered shares
  • Shares of no par value
  • Preference shares
  • Bearer shares
  • Redeemable shares
  • Shares with or without voter rights

Taxation

A Global Onshore Company is a tax resident private limited company that may operate internationally and pay tax at the rate agreed by its jurisdiction.

Gambian Tax Resident companies are subject to Zero tax on all revenues received from business conducted outside of The Gambia.

Gambian Tax Resident companies pay tax on income received from business within The Gambia at a rate of either 32% on taxable profit or 1.5% on taxable turnover. Income derived from business activities outside of the Gambia are taxed at 0%.

The Gambia currently has double taxation treaties with Great Britain, Sweden, Norway, Switzerland and Taiwan.

What’s Included

  • Registered Address and Agent
  • Government fees
  • Certificate of Incorporation
  • Memorandum & Articles of Association
  • Appointment of First Directors
  • Consent Actions of the Board of Directors
  • Share Certificates
  • Register of Directors and Members

Options

  • Services Office in The Gambia
  • Nominee Director
  • Nominee Shareholder
  • Audit Exemption Certificate
  • Bank Account opening
  • Company Seal*

* Delivery of the physical seal will be extra.

 

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