Reserve a unique company name
Agency: Companies Registry
Name reservation can be done online through the Registrar of Companies’ website: https://www.online.gov.sz. A reply is issued immediately with no cost.
Time and cost: Less than a day (online procedure), no charge
Pay the name reservation and registration fees
Agency: Eswatini Revenue Authority
The official fees are now paid at the Eswatini Revenue Authority.
Time and cost: 1 day, included in procedure 5
Obtain tax clearance for company directors
Agency: Eswatini Revenue Authority
To register a new company, each founder must obtain an income tax clearance statement.
Time and cost: 1 day, no charge
Preparation of the memorandum and articles of association online
Agency: Ministry of Commerce, Industry and Trade
Most entrepreneurs are now using the standard forms available online for the memorandum and articles of associations.
Memorandums and Articles of Association will be compiled and prepared by the users. The standardized company registration forms are also available and downloadable online on www.gov.sz categorized according to the type of Company in compliance with the Companies Act. 2009.
Time and cost: 2 days, no charge
Register with the Company Registrar
Agency: Companies Registry
Company registration is available online. The investor must submit the following documents to the Registrar of Companies:
- Memorandum Articles of Association – 3 copies (1 original, 1 to be filed, and 1 copy for the applicant)
- Government revenue receipts for the registration fees
- Copy of the applicant’s ID card
- Notarized receipt of the successful reservation of the company name
Time and cost: 2 days, E 1845
Deposit the paid-in capital and obtain a bank statement
Agency: Bank
The entrepreneurs must then deposit the company’s paid-in capital and obtain a bank statement from a bank.
Time and cost: 1 day, no charge
Obtain a company Tax Identification Number (TIN)
Agency: Tax Authority
Company founders must inform the tax authority about the new company establishment.
Time and cost: 1 day (simultaneous with previous procedure), no charge
Receive a health inspection
Agency: Health Department or City Council
Depending on which agency has jurisdiction, the city council or health department issues a Health Clearance Certificate upon inspecting the business location. The certificate is a supporting document in the company’s application of a Trading License.
Time and cost: 1 day (simultaneous with procedure 6), included in license cost
Request and obtain a trading license
Agency: Ministry of Commerce, Industry and Trade
All companies require a trading license, except for professional companies that have a different licensing system. To obtain a trading license, the company requests a hearing before the Ministry of Enterprise and Employment. The Ministry publishes a notice in a daily newspaper (The Observer) at least 3 business days before the hearing, allowing individuals and companies to object to the company’s formation.
Companies must submit the certificate of incorporation upon requesting a hearing. The following documents must be submitted before the hearing and can be obtained while waiting for the hearing:
- Bank statement, proving the directors have enough funds to run the company
- Lease agreement of the company location
- Company tax registration
- Certificate of inspection by the health department or city council
- Memorandum and articles of association
- Receipt of license fee payment
A company might need more than one trading license if it does more than one activity. For instance, if the company produces and sells its goods to the public. Each activity has a different license fee.
Time and cost: 12 days, SZL 50 to SZL 10,000 (most likely a general services or manufacturing company would pay a license of SZL 3,000 to SZL 5,000, therefore SZL 4,000 is a reasonable estimate for this fee)
Pay the trading license fee
Agency: Trade Licensing Office
The trading license fee is paid at the Trade Licensing Office.
Time and cost: 1 day (simultaneous with previous procedure), included in previous procedure
Register workers with the Provident Fund
Agency: Provident Fund
Upon recruitment of new staff, the employer must register the employees with the Eswatini National Provident Fund, which provides pension and occupational injury and illness benefits.
Time and cost: 1 day (simultaneous with procedure 9), no charge
Enroll workers in the worker’s compensation insurance
Agency: Royal Swazi Insurance Corporation
All employers must register their employees for worker’s compensation insurance at the Royal Swazi Insurance Corporation. The rates vary by industry.
Time and cost: 1 day (simultaneous with procedure 9), no charge
