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Any tourism business need a wise decision in deciding which form of business to use to do that business legally. According to Tanzania National tourism policy of 1999 and Tanzania Tourism Act, 2008, it bound tour operators to abide with some regulations and laws . Due to all these regulations and laws to abide, a suitable form of tourism business is the Private or Public limited company by shares

Procedures to Registering a Private Limited Company by Share In Tanzania

Our reference is Brela (Business registration and licensing Authority)

Website: http://www.brela-tz.org

Company registration

Company registration is a right of any Tanzanians who want to join efforts to do business under existing companies act, 2002

There are four main types of companies to choose from: –

  1. Private companies. (limited by share or guarantees)
  2. Public companies (limited by share or guarantees).
  3. Foreign companies (companies incorporated outside Tanzania).
  4. Parastatal or state owned companies.

Private companies

A private company is formed by 2 or more persons (not exceeding 50) with prior relationships other than only business relationship e.g. Father and son’s and or daughters, friends etc.

In private companies shares are not transferable or listed in the public stock exchange

Private companies are required to submit annual returns and any other statutory filable documents to the Registrar (e.g. Changes of particulars of directors, change of company names etc). Filing fees are also payable and penalty for late filing is also levied.

This document is required before any registration procedures

Memorandum and Article of Association (MemArt) which is prepared by either business and companies practicing lawyer or any business consultant. A formal MemArt must have be signed by a notary public advocate to verify that the document meet all legal requirements.

Fee payable for companies’ registration

There are three types of fees payable by applicants for registration of new companies:-

  1. Registration fees.
  2. Filing fees.
  3. Stamp duty.

Registrations Fees

REGULATIONS

________

Made under section 452

________

THE COMPANIES (FEES PAYABLE TO REGISTRAR) REGULATIONS, 2005

1. These Regulations may be cited as the Companies (Fees payable to Registrar)

Regulations 2005, and shall come into force on the date of publication.

Citation

2. In these Regulation, “the Act” means the Companies Act 2002.

Interpretation

Act No. 12 of 2005

3. The Schedule to these Regulations has effect with respect to the fees payable to

Registrar of Companies for the performance of his functions under the Act as follows:

Fees

______

SCHEDULE

______

Function Amount

For the registration of a company having capital whose nominal share capital is:

(a) not more than Tshs.20,000/= but not more than Tshs.500,000/= 50,000/=

(b) more than Tshs.500,000/= but not more than Tshs.1,000,000/= 80,000/=

(c) more than Tshs.1,000,000/= but not more than Tshs.2,000,000/= 100,000/=

(d) more than Tshs.2,000,000/= but not more than Tshs.3,000,000/= 120,000/=

(e) more than Tshs.3,000,000/= but not more than Tshs.5,000,000/= 150,000/=

(f) more than Tshs.5,000,000/= but not more than Tshs.10,000,000/= 180,000/=

(g) more than Tshs.10,000,000/= but not more than Tshs.30,000,000/= 200,000/=

(h) more than Tshs.30,000,000/= ………………………………………………….. 300,000/=

For reservation of a company name ……………………………………………. 50,000/=

For company name change ………………………………………………………..15,000/=

For the receipt and/or registration by Registrar of any document

which under the Act is to be delivered to him ……………………………….. 15,000/=

For the late filing/registration fee to be paid to the Registrar of any

document delivered to him (per month or part thereof) …………………… 1,500/=

For filing of Annual Returns ……………………………………………………….. 15,000/=

For certification of any document, per page …………………………………… 2,000/=

For making search in any file/perusal ……………………………………………. 2,000/=

For obtaining a written search report per file …………………………………. 15,000/=

 

Example: If you want to register a company whose capital share is TZS. 50m you will pay a registration fee of TZS. 300,000/-

(b) Filing fee;

Is TZS.. 45,000/- for the whole application. Meaning TZS.15,000/- for each document i.e. Memorandum and Articles of Association, form no.1, 14a and 14beach TZS..15,000/- total TZS. 45,000/-

(c) Stamp Duty

Is paid TZS.6,000/- for the original Memorandum and Articles of Association, TZS.. 1,200/- for form no.1. TZS. 5,000/- is paid as stamp duty for each copy of Memorandum and Articles of Association.

If you have 5 memorandums that mean you will pay

Stamp duty

TZS.    6,000

5000×4

Total = 26,000+1200

Grand total= 27,200

Filing fee = 45,000

All payments are payable to the Registrar of Companies against which receipts are issued. Applicants are advised to desist from making payments for which no receipts are issued. Any demands or request by any officer in the Registry for money, which is not within the payment schedule stated, should forthwith be reported to phone no. 2180113 for necessary action.

Any changes that occur in the company should be reported to the Registrar immediately. The registrar after noting the reported change registers the same on payment of filing fees. Penalty is charged if the change in particulars is not reported in time. The current rate of penalty Shs. 1,500/- per month and part thereof.

If a company after one year fails to take off, for any reasons whatsoever, the officers thereof may notify the Registrar who issues notice to strike such company off the register off companies. If no notification is made, the Registrar assumes that the company is carrying on business and is therefore required to comply with all the requirement relating to existing companies.

About The Author

A Busi­ness, IT and Com­mu­nity Related Project Consultant

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