In the first of our “Getting Started” series we’ll be looking at advice on how to register and setup a company in Somaliland. The series in general aims to provide practical advice and tips on getting started with any type of business – in line with Our Mission we want to Educate or equip people with the right knowledge and information to get started doing business and drive the local economy.
** Whilst in the middle of writing this guide we were informed by the Ministry of Trade & Investment that a major overhaul of the current process of setting up a business is in process; from what we’ve been told the aim is to create a one-stop shop streamlining business setup and company formation procedures. We have therefore decided to post the ‘Current’ process below for general information purposes with the view of writing a more comprehensive guide as and when this new government initiative is completed.
Current Process of Registering a Business in Somaliland:
- Request later (Mention the nature of the business)
- Article of Association (in both Somali and English)
- Approval later from relevant authority/body for each business
- Latter from Attorney General
- Chamber of Commerce Membership
- National ID
- Certain fee depends on the kind of business
- File and two Pictures (Passport size)
At present the whole process can take a few weeks (if not longer) and can be very cumbersome. Hopefully the new process will positively improve things.
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