Gambia, The

Starting a Business in

Gambia, The

Listed below is a detailed summary of the bureaucratic and legal hurdles an entrepreneur must overcome in order to incorporate and register a new firm, along with their associated time and set-up costs.  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 (GNI).

The information appearing on this page 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 183 economies. The most recent round of data collection for the project was completed in June 2011.

  • Standardized Company

  • Legal Form: Private Limited Liability Company
  • City: Banjul

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No. Procedure Time to Complete Associated Costs
1 Search for 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.
1 day GMD 150
3 Obtain 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 Central 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 Payment of stamp duty and deposit of 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 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 5000
8 Make a company seal

Although 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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