Registering a company in Eswatini and registering an account with an Eswatini bank in 2021 will be a profitable solution for those who intend to open their own business in Africa or want to expand the boundaries of their existing business.
The Kingdom of Eswatini (until 2018 the Kingdom of Swaziland) is a small landlocked country known for its wildlife sanctuaries and traditional cultural festivals. It borders Mozambique in the northeast and extends to South Africa.
The territory of Swaziland is 17363 km².
The most developed economic sectors: are agriculture, industry (sugar, textile, coal, asbestos, logging, cotton), and food industry (fruit juices, canned food).
The capital is Mbabane (Lobamba). Largest cities: Manzini, Citéki, Malkerns.
The state currency is the Eswatinian lilangeni (SZL). National languages: Swati and English. The population of the country is over 1.3 million people. The climate of the state is subtropical/tropical.
Participation in international organizations: WTO, SADC, AU, US, and others.
Other industries that you can focus on in order to register a company in Eswatini:
- construction;
- transport;
- social sphere;
- nutrition;
- tourism;
- logistics;
- coal mining;
- mining of asbestos;
- drinking water;
- production of cellulose products.
Pros of starting a business in Swaziland
For those who are going to open a company in Swaziland remotely, or open a corporate account in a bank in Swaziland, we suggest that you familiarize yourself with the specifics of the business climate of this jurisdiction, as well as its key advantages:
- Smooth but stable economic development;
- Trade with Japan, Great Britain, South Africa, Canada, and Belgium;
- More than 4 DTA agreements;
- A positive attitude of the authorities towards foreign investments;
- Broad prospects for starting any type of business;
- Free industrial zone;
- Flexible tax system;
- Labor force available.
If you want to register a company in Swaziland in 2021, then pay special attention to these business areas: tourism, hospitality, light industry, food industry, medicine, IT technologies, communications, and communications.
Key OPF in Eswatini
If you are interested in registering a company in Eswatini, then the first point, you will need to choose the most optimal form of economic activity, in particular:
Local limited liability company (Resident LLC / Private LLC);
Free Zone Company (FZ LLC);
Representative Office (RO);
Branch of a foreign company (B) /
According to the majority of foreign entrepreneurs, the most convenient and profitable option for doing international business is a limited liability company (Resident LLC / Private LLC).
If you are planning to open a company in Eswatini remotely, then you should definitely choose this particular OPF.
Registration conditions
You can register a company in Swaziland subject to the following conditions of the Regulator:
The unique name of the company (at the end, the OPF is indicated);
Required number of directors: minimum 2 (individuals/companies);
The required number of shareholders is at least 2 (individuals and companies);
Authorized capital – at least 1,000 USD;
The presence of a secretary: not required;
Resident status requirements: none;
The presence of a registered local office: is not required;
Opened corporate account at Eswatini Bank;
Submission of annual financial statements: yes.
Taxation
If you are interested in registering a company in Swaziland remotely, then you will certainly need to thoroughly study the features of the tax regime of this jurisdiction in relation to legal entities, namely:
- The base income tax rate is 27.5%.
- Dividend tax – no;
- VAT – 14%;
- Income tax for branches – 15%.
