Nature and key conditions of limited company formation in Tanzania
1. Company name must be unique.
2. Company name must not include certain restricture words.
3. Company name can be in English or Swahili or both.
1. Minimum Tshs 20,000/= share capital to be issued and paid up.
2. No restriction on the maximum issued and paid up share capital.
3.The aliability of each shareholder is limited to the issued and paid up share capital.
4. Issued and paid up share capital is not the required minimum deposit amount in bank account.
1.Minimum two shareholders to the maximum of 50 shareholders.
2.Minimum two Directors (aged 21 or above).
3.A company is allowed to act as shareholder.
4.Shareholder and Director can be the same person or same company.
5. Shareholder and Director can be individuals of any nationality and residence.
6. Resident Director or shareholder should have NIDA number and induvidual TIN number but Non-resident should have Passport copy.
1.A Company must appoint a Company Secretary (to ensure compliance with ongoing legal returns, accounts, audit and other requirements).
2.The Company Secretary must be ordinarily resident in Tanzania, a Tanzanian qualified accounting professional, qualified legal professional, Professional business administrator or a "Tanzanian Trust or Company Service Providers licensee".
3.One of the Director can also be a Company Secretary.
4.Company secretary should have NIDA number for Resident or Passport copy for non Resident who will seek permit later.
1. A company must have a registered office address in Tanzania.
2. The Registered Office address serves as the company's legal address for notices and proceedings and can be different from the business address.