Kinyarwanda and English
Q: What types of companies can be formed in Rwanda?
A: Rwanda allows for the formation of various types of companies, including limited liability companies, joint ventures, partnerships, and branch offices.
Q: What is the process for forming a company in Rwanda?
A: The process for forming a company in Rwanda involves obtaining a reservation of a company name, registering the company with the Rwanda Development Board, obtaining necessary permits and approvals from relevant authorities, and obtaining a tax identification number.
Q: Is there a minimum share capital requirement to form a company in Rwanda?
A: Yes, there is a minimum share capital requirement to form a company in Rwanda. The minimum share capital for a limited liability company is RWF 1 million, while the minimum share capital for a joint venture is RWF 10 million.
Q: Do I need to have a physical office in Rwanda to form a company?
A: Yes, companies in Rwanda are required to have a physical office in the country. The office can be a commercial office or a virtual office, but it must be located within Rwanda.
Q: What are the tax implications of forming a company in Rwanda?
A: Companies in Rwanda are subject to corporate income tax, which is currently set at a flat rate of 30%. Additionally, companies are required to pay value-added tax (VAT) on goods and services sold in Rwanda.
Q: How long does it take to form a company in Rwanda?
A: The time required to form a company in Rwanda can vary depending on the complexity of the registration process and the availability of local resources. In general, it takes approximately 3-5 days to reserve a company name and approximately 1-2 weeks to complete the company registration process in Rwanda.
Q: What are the ongoing compliance requirements for companies in Rwanda?
A: Companies in Rwanda are required to comply with various ongoing compliance requirements, such as maintaining accurate financial records, filing annual financial statements, and submitting tax returns.
Q: Can a foreigner form a company in Rwanda?
A: Yes, foreigners are allowed to form companies in Rwanda. However, certain industries may be restricted to Rwandan nationals or require a certain percentage of Rwandan ownership. Additionally, foreign investors may be required to have a local partner or sponsor to form a company in Rwanda.
Rwanda has seen impressive economic growth in recent years. According to the World Bank, the country’s GDP grew by an average of 8.2% between 2010 and 2019. This growth has been driven by strong performance in the services sector, which accounts for nearly half of the country’s GDP. The manufacturing sector has also seen strong growth, with exports of manufactured goods increasing by an average of 10.5% per year between 2010 and 2019. In addition, Rwanda has seen a significant increase in foreign direct investment, with inflows reaching $1.2 billion in 2019. This has helped to create jobs and reduce poverty, with the poverty rate falling from 57.7% in 2011 to 39.1% in 2018. Overall, Rwanda’s economy has seen impressive growth in recent years, and the country is well-positioned to continue this trend in the future.
Réunion is an overseas department of France and is subject to French tax laws. As such, its taxation system is integrated with that of France.
For corporate taxation, companies in Réunion are subject to the standard French corporate tax rate of 28% on their profits. However, companies with an annual turnover below a certain threshold are eligible for a reduced tax rate of 15% or 10%, depending on their level of turnover.
For personal taxation, residents of Réunion are subject to the same tax rates and rules as residents of mainland France. The tax rates are progressive, with rates ranging from 0% to 45% depending on the individual's income level. Income tax is withheld at source for most employees, and tax returns must be filed by May 31 of the year following the tax year.
In terms of tax payments, businesses and individuals in Réunion are required to make regular tax payments throughout the year based on estimated income. These payments can be made online or in person at tax offices, and the deadlines for payments are typically in March, June, September, and December. The exact dates may vary slightly from year to year. Any balance owed at the end of the tax year must be paid by the tax return filing deadline.
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