Gambia, The

Starting a Business in

Gambia, The

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Gambia, The. It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 189 economies. The most recent round of data collection was completed in June 2013.

Compare Gambia, The to 188 other economies.

  • Standardized Company

  • Legal Form: Private Limited Liability Company
  • Paid in Minimum Capital Requirement: None
  • City: Banjul
No. Procedure Time to Complete Associated Costs
1 Reserve a unique company name

The name search is conducted manually at the Commercial Registry.
1-2 days GMD 100
2 Notarize company statutes

Although there are no set notary fees, GMD 100-150 is commonly charged. The following documents must be notarized: Articles of Association and Memorandum of Association; and submitted along with Forms C01, C02 and C06.
1 day GMD 150
3 Obtain a tax identification number (TIN) from the Gambia Revenue Authority

All businesses must obtain a tax identification number (TIN) before paying company tax and stamp duty and registering with the Companies Registry. To obtain the identification number, the company must submit a form, the notarized articles and memorandum of association, and the founders’ proof of identification.
1 day GMD 25
4 Pay stamp duty and deposit the corporate tax with Commissioner of Income Tax

The fee for the incorporation certificate is about GMD 500. Stamp duty is GMD 1000 for 3 copies of the company incorporation documents, one of which must be deposited with Companies Registry and one with the Commissioner of Income Tax. The deposit of corporate tax with Commissioner of Income Tax varies, starting from about GMD 5,000, payable before incorporation at the Companies Registry.
1 day see comments
5 Register employees with the Social Security and Housing Finance 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 at most 7 days.
2 days no charge
6 Register with the Commercial Registry

As of February 1st, 2011 registration fees have been set to 6% of total share capital.
2 days 6% of total share capital
7 Obtain the operational license

The standard fee is GMD 5,000 for the Banjul City Council and the largest municipality (Kinifing Municipality). This license must be renewed annually.
1 day GMD 5,000
8 Make a company seal

Although some company seals are usually made in the United Kingdom, not locally in Gambia, certain accountancy firms in Gambia can make the arrangements. The cost depends on the quality and size of the seal.
18 days USD 200

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