Are there any annual compliance requirements that a company must meet in Namibia?
Yes. To stay in good standing in Namibia, companies have recurring corporate, tax, employment and licensing obligations each year. The exact mix depends on the entity type and industry, but the core requirements typically include the following.
Core corporate/secretarial
- Annual return to BIPA: File the company’s annual return with BIPA to keep the public register current and the company in good standing.
- Statutory records and governance: Maintain up‑to‑date registers (members/share register, directors/officers, charges), minute books, share certificates, and beneficial ownership records. Public companies must hold an annual general meeting; private companies follow their articles.
- Financial statements and audit: Prepare annual financial statements. Audits are mandatory for public and private companies.
Tax and customs (NamRA)
- Corporate income tax: Keep provisional/estimate payments up to date (where applicable) and file the annual income tax return by the statutory year-end deadline.
- VAT: If registered, file and pay VAT on the assigned cycle (commonly bi‑monthly) and keep annual reconciliations in order.
- Employees’ tax (PAYE): Operate PAYE monthly on employee remuneration and submit periodic reconciliations per NamRA requirements.
- Withholding taxes: Account for and remit any withholding tax on dividends, interest, royalties and services paid to non‑residents, with required returns.
- Customs/import‑export: If trading across borders, keep customs registrations current and meet ongoing declaration and duty/VAT obligations.
Employment and social protection
- SSC: Keep employer and employee registrations current and pay monthly SSC contributions.
- Employees’ compensation: Maintain registration and pay assessments as required.
- Labour compliance: Maintain compliant employment contracts, workplace policies, health and safety measures and personnel records; renew any required professional registrations.
Licences and sector approvals
- Local authority business (municipal fitness certificate)/trade licence: Renew annually where applicable (e.g. retail, hospitality, certain services).
- Sector regulators: Maintain/renew licences and meet periodic reporting requirements in regulated sectors (mining/energy, fisheries, financial services, telecoms/broadcasting, aviation, healthcare, tourism, education, etc.).
- Environmental approvals: Renew environmental clearance certificates for listed activities, as required.
Ongoing housekeeping
- Registered office: Keep a physical Namibian registered office at all times and notify BIPA promptly of any change.
- Changes during the year: File timely notices for changes in directors/officers, registered address and alterations of share capital; maintain internal registers to mirror the public record.
- Beneficial ownership/AML: Keep internal beneficial ownership information current and be ready to disclose to banks, auditors, regulators and competent authorities on request.