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 2014.

Compare Gambia, The to 188 other economies.

  • Standardized Company

  • Legal form: Private Limited Liability Company
  • Paid in minimum capital requirement: GMD 0
  • City: Banjul
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, GMD 100-150 is commonly charged. 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 25
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 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
6 Obtain the operational license
Agency: Municipality

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 5000
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 USD 200

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