Business Formation

Reserve a unique company name

Agency: Companies Registry

The name search is conducted manually at the Commercial Registry. The applicant goes to the Single Window Business Registration Offices at the Ministry of Justice in Banjul or the Kanifing Municipal Council.

Time and cost: 1-2 days, GMD 500

Notarize company statutes

Agency: Public Notary

Although there are no set notary fees, the average cost is GMD 150. The statutory declaration of compliance Form C.O.1 must be notarized.

Time and cost: 1 day, GMD 150

Obtain a tax identification number (TIN) from the Gambia Revenue Authority

Agency: Gambia Revenue Authority

All businesses must obtain a tax identification number (TIN) before registering with the Companies Registry. To obtain the identification number, the company must submit a form, the articles and memorandum of association, and the founders’ proof of identification.

Time and cost: 1 day, no charge

Register employees with the Social Security and Housing Finance Corporation

Agency: Social Security Corporation

Employees pay 5% of their monthly salary to the social security department. The employer contributes 10% of the employees’ salary. Depending on the number of employees, this process takes on average 2 days, but can take at most 7 days.

Time and cost: 2 days, no charge

Register with the Commercial Registry

Agency: Commercial Registry

Under the new Single Window Business Registration Act, a company with startup capital up to GMD 500,000 will pay a fixed registration fee of GMD 10,000.

Time and cost: 2 days, GMD 10,000 incorporation fee and GMD 1,000 for the Business Registration Certificate

Obtain the operational license

Agency: Municipality

The standard fee is GMD 5,000 for the Banjul City Council and the largest municipality (Kanifing Municipality). This license must be renewed annually.

Time and cost: 1 day, GMD 5,000