Company business description

A Company is a legal entity formed by one or more individuals or entities, registered under the Companies Act, Cap. 212, and recognized as a separate legal person. It can own assets, enter contracts, sue or be sued in its own name.

🗣️ “A company is a corporate body formed and registered to operate as an independent legal entity distinct from its owners.”

There are different types of companies in Tanzania, including:

• Private Company Limited by Shares (Ltd) – the most common form for SMEs and startups.

• Public Company Limited by Shares (PLC) – for larger businesses that can sell shares to the public.

• Company Limited by Guarantee – mostly used by NGOs or not-for-profit entities.

• Foreign Company – a company incorporated outside Tanzania but registered to operate within Tanzania.

✅ Key Features of a Company

• Separate legal identity – the company exists independently from its shareholders.

• Limited liability – shareholders are only liable up to the amount unpaid on their shares.

• Perpetual succession – the company continues to exist even if ownership changes.

• Can sue or be sued, own property, and enter into contracts.

📝 Company Registration Requirements (BRELA)

To register a company in Tanzania through BRELA, the following are required:

📋 1. General Requirements

• At least one shareholder and one director (can be the same person).

• A registered office address in Tanzania.

• Valid National Identification Number (NIN) for all Tanzanian directors/shareholders

• For foreign shareholders/directors: copies of passports.

• A company name
  
  

📄 2. Required Documents

• Proposed Memorandum and Articles of Association (MEMART).

• Identification documents (NIDA/Passport).

• TIN application form (to be submitted later to TRA).

• Proof of payment of registration fee.

💡 Benefits of Registering a Company

• Full legal recognition and protection.

• Builds credibility with clients, banks, and partners.

• Easier access to loans, tenders, and government contracts.

• Enables business expansion and formal growth.

• Offers liability protection to owners.

📦 Company Registration Checklist

Minimum Shareholders

2 (Tanzanian or foreign)

Minimum Directors

2 (Tanzanian or foreign)

Company Name

Must be unique and approved by BRELA

Office Address

Physical office in Tanzania

MEMART

Mandatory company constitution

NIN (or Passport for foreigners)

Required for all shareholders/directors

TIN Registration (TRA)