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Ease of Doing Business in

Gambia, The

Gambia, The Download Profile (1702.1KB, pdf)
Region Sub-Saharan Africa
Income Category Low income
Population 1,990,924
GNI Per Capita (US$) 485
City covered Banjul

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 145 150 up
5
51.70 49.28 down
2.42
Starting a Business 168 169 up
1
69.37 67.32 up
2.05
Dealing with Construction Permits 122 123 up
1
64.27 63.84 up
0.43
Getting Electricity 154 153 down
1
49.13 47.40 up
1.73
Registering Property 124 127 up
3
53.27 52.83 up
0.44
Getting Credit 118 163 up
45
40.00 20.00 up
20.00
Protecting Minority Investors 165 166 up
1
35.00 35.00
-
Paying Taxes 171 167 down
4
48.08 48.08
-
Trading across Borders 112 109 down
3
65.27 65.27
-
Enforcing Contracts 107 105 down
2
54.84 54.84
-
Resolving Insolvency 117 112 down
5
37.75 38.27 down
0.52

Positive=Doing Business reform making it easier to do business. Negative=Change making it more difficult to do business.

DB 2017 Rank: 168

DB 2016 Rank: 169

Change in Rank: up1

DB 2017 DTF (% points): 69.37

DB 2016 DTF (% points): 67.32

Change in DTF (% points): up2.05

Standardized Company
Legal form: Private Limited Liability Company
Paid-in minimum capital requirement: GMD 0
City: Banjul
Indicator Gambia, The Sub-Saharan Africa OECD high income
Procedure – Men (number) info_outline 7.0 7.8 4.8
Time – Men (days) info_outline 25.0 27.3 8.3
Cost – Men (% of income per capita) info_outline 125.2 54.0 3.1
Procedure – Women (number) info_outline 7.0 7.9 4.8
Time – Women (days) info_outline 25.0 27.5 8.3
Cost – Women (% of income per capita) info_outline 125.2 54.1 3.1
Paid-in min. capital (% of income per capita) info_outline 0.0 33.1 9.2
  • No. Procedure Time to Complete Associated Costs
    1

    Reserve a unique company name

    Agency: Companies Registry

    The name search is conducted manually at the Commercial Registry.
    1-2 days GMD 500
    2

    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.
    1 day GMD 150
    3

    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.
    1 day GMD 50
    4

    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.
    2 days no charge
    5

    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.
    2 days GMD 10,000 incorporation fee and GMD 1,000 for the Business Registration Certificate
    6

    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.
    1 day GMD 5,000
    * 7

    Make a company seal

    Agency: Sealmaker

    Company seals are ordered from abroad, usually made in the United Kingdom not locally in The Gambia. Certain accounting and legal firms place and receive the order on behalf of the newly registered companies by courier services or DHL. The cost depends on the quality and size of the seal.
    18 days (simultaneous procedure) USD 200

    * Takes place simultaneously with previous procedure.