Business in The Gambia

 Setting up Your Business in The Gambia

The different broad categories of business that can be registered under the Laws of The Gambia include Sole Proprietorships, Partnerships, Limited Liability Companies and Organisations/Associations. The Enterprise Support Department in an effort ease transactions leading to business registration both for local and international investors, has sequentially streamlined the different processes involved for the different categories.

Sole Proprietorships 

  • Obtain a Tax Identification Number (TIN) if you do not have one
  • Complete two Business Registration Forms at GRA at no cost
  • Make a minimum Income Tax Deposit of D5,000 plus D500 Business Registration fee all at GRA
  • Obtain an Income Tax Clearance
  • Provide copies of the Income Tax Clearance, TIN Card and Business Registration form to the Registrar of Companies at Ministry of Justice in Banjul
  • Get issued a Business Registration Certificate by the Registrar of Companies at the Ministry of Justice

Partnerships

  • The first thing is to get a Legal Practitioner to prepare a Partnership Deed. Cost varies between D10,000 - D20,000. GIEPA can connect you with a number of Legal Practitioners to prepare your Partnership Deeds
  • Get the Partnership Deed registered at the Registrar General’s Office at the Ministry of Justice at D100
  • Obtain a Tax Identification Number at GRA at D50.00 for the partnership you wish to register
  • Complete two Business Registration Forms at GRA at no cost
  • Make a minimum Income Tax Deposit of D10,000 + D1,000 for Business Registration all at GRA
  • Obtain an Income Tax Clearance from GRA
  • Get issued a Business Registration Certificate presenting the Tax Clearance Certificate, TIN and Registered Partnership Deed at the Registrar of Companies Office at Ministry of Justice in Banjul
  • Obtain a Municipal Trade License from the Municipal Authority under which the business location falls

Limited Liability Companies

  • Get a Legal Practitioner to prepare your Memorandum and Article of Association. Fees vary from D10,000 - D20,000
  • Obtain a Tax Identification Number at D50 from GRA if you do not have one
  • Complete 2 Business Registration Forms at no cost at GRA
  • Make a minimum income tax deposit of D10,000 + a fee of D1,000 for business registration
  • Make a payment for Business Registration at the Company Registrar’s office at Ministry of Justice which is equal to 6% of share capital of the company to be registered. This is upon presenting the above documents
  • Get a Notary Public / Commissioner of Oath to notarize the CO1 and CO6 forms as stipulated in the Company’s Acts. The cost for this varies between D500 - D1,000
  • Get issued a Certificate of Incorporation by the Registrar of Companies at the Ministry of Justice in Banjul
  • Obtain a Municipal Trade License from the Municipal Authority under which the business location falls

Organisations/Associations

  • Get your constitution done preferably by a Legal Practitioner or Development Expert. This should spell out Members of the Executive Board and their specimen signatures
  • Obtain a Letter from the Department of Community Development
  • Obtain a Tax Identification Number at D50 from GRA
  • Make a payment of D100 at GRA for Stamp Duty
  • Get a Notary Public/Commissioner of Oath to notarize the CO1 and CO6 as stipulated by the Companies Act. These forms can be obtained from the Office of the Registrar of Companies
  • Pay the incorporation fee of D1,000 at the Office of the Registrar of Companies at the Ministry of Justice in Banjul.
  • Get your organisation/association issued a Registration of Incorporation Certificate by the Registrar of Companies at the Ministry of Justice in Banjul
  • Obtain a Municipal Clearance from the Municipal Authority under which the business location falls

Other Operational Requirements

  • On registering a business, employers must ensure compliance with Payroll Tax payments to GRA on behalf of employees both Gambians and Non-Gambians on a monthly basis in line with the Income Tax Act of The Gambia. Payments of Income tax by employers on behalf of employees can only be effected with upon acquiring a TIN Card by the employee. It is advisable to ensure employees obtain their TIN cards in good time to avoid tax penalties to be borne by their employers
  • Quarterly income tax returns are also an obligation on businesses failure of which within 15 days of the end of each quarter attracts a penalty. Businesses in services will be required to register for Sales Tax Payment with GRA calculated at 20% for Telecommunications and 15% for other service sectors.
  • Employers are also obliged to pay Expatriate Quota Tax Contributions for their non-Gambian Employees on an annual basis. The categories are indicated below
    • Non-Gambians within ECOWAS: D10,000 + D100 for the form
    • All other Non-Gambians: D40,000 + D100 for the form