Starting and running a business in Botswana requires compliance with several regulatory institutions.
Entrepreneurs must ensure that their businesses are properly registered and meet all statutory requirements to operate legally. This article outlines the key regulatory bodies involved and how we at TEC-SEC, a trademark of FOLIO (PTY) LTD, can help you navigate the process smoothly.
Companies and Intellectual Property Authority (CIPA)
CIPA is responsible for company registration and intellectual property protection in Botswana. All businesses must be registered with CIPA to receive a certificate of incorporation and company extract. This process involves:
- Choosing a unique company name and reserving it with CIPA.
- Submitting the necessary incorporation documents, including details of directors and shareholders.
- Receiving a certificate of incorporation upon successful registration.
How we at TEC-SEC, a trademark of FOLIO (PTY) LTD, can help you:
We assist in securing your company name, preparing and submitting all required documentation, and ensuring you receive your certificate of incorporation hassle-free. Our team handles every step of the registration process with precision and efficiency.
Botswana Unified Revenue Services (BURS)
BURS oversees tax compliance for all businesses operating in Botswana. Companies must register for tax obligations, including:
- Taxpayer Identification Number (TIN) – Required for all companies upon registration.
- Value-Added Tax (VAT) – Businesses with an annual turnover above the threshold must register for VAT.
- Pay-As-You-Earn (PAYE) – If a company has employees, it must register for PAYE and remit employee tax deductions.
How we at TEC-SEC, a trademark of FOLIO (PTY) LTD, can help you:
We handle the entire tax registration process, ensuring your company is properly registered with BURS. Our services include obtaining your TIN, VAT, and PAYE registrations, and assisting with tax clearance applications to keep your business in good standing with the tax authorities.
Trading License from Local Councils
A trading license is required for businesses operating in regulated industries. This is issued by the local council in the business’s area of operation. The process includes:
- Submission of company documents, lease agreements, and health clearances.
- An inspection of the business premises to ensure compliance with health and safety regulations.
How we at TEC-SEC, a trademark of FOLIO (PTY) LTD, can help you:
We simplify the trading license application process by ensuring all required documents are correctly prepared and submitted. We also coordinate inspections and follow up on approvals, ensuring you receive your license as quickly as possible.
Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
For companies operating in the financial services sector, registration with NBFIRA is mandatory. This includes businesses such as micro-lenders, insurance brokers, and investment firms. Compliance requirements include:
- Submission of financial statements and business plans.
- Adherence to NBFIRA’s regulatory framework to ensure financial sector stability and consumer protection.
How we at TEC-SEC, a trademark of FOLIO (PTY) LTD, can help you:
We guide you through the NBFIRA registration process, ensuring that your financial services bon each pointusiness meets all regulatory requirements. From preparing the necessary documents to liaising with regulatory bodies, we ensure that your company remains compliant and legally operational.
