Namibia Limited Liability Company (LLC)
- In order to incorporate an LLC in Namibia, a capital of USD 1, one shareholder and one director is required, both can be local or foreign residents. Similarly, to complete the incorporation process, this entity must secure a lease agreement for its registered office.
- The organization must appoint a registered auditor during incorporation and the firm is legally obliged to perform an annual audit of its financial statements. Resident entities don’t need to submit financial statements.
Namibia Public Limited Company (PLC)
- There is no minimum capital requirement for the incorporation of a public limited company, but a minimum of seven shareholders and two managers must be appointed. In addition, just like a limited liability company, a PLC must perform an yearly audit and appoint a legal auditor.
- This type of corporation is a perfect choice for entities looking to raise capital by floating the shares into the general public at large. Listing a public limited company on the Namibian Stock Exchange (NSX) is not required .
The Namibia Branch Office
- A foreign business branch in Namibia is not regarded as a separate entity from its holding company. It must all have a separate management team and business bank account. The Namibia branch office scope is defined by its holding company. A Namibia-listed accountant and a statutory auditor must be appointed to keep the records of the entity in Namibia.