Company Formation in Lesotho
With a comprehensive and accurate business plan and the right knowledge, we can make the Lesotho company start-up smooth. In order to make business processes simple and quick, it is worth thinking long-term. In addition to choosing the right company form and completing the company incorporation application form, it is also necessary to focus on future mandatory tasks. Corporate management, accounting and financial affairs will also be an important part of our operations.
Not only does our company provide you with assistance in defining your basic start-up policy, but also in closely related rules, minimized tax burdens and costs, and full accounting.
Benefits of Company Formation in Lesotho:
- There is no need to travel out to start a company
- It can also be started with an identity card
- You can register in three business day, and you can make invoice the next day
- There is no need for a lawyer or notary to start a company
- There is no separate attorney fee and publication fee
- It can also be done online
- VAT rate at 15%
- VAT regsitration over 850 000 Maloti threshold turnover
- Business friendly environment
- There is no strict accounting requirement
So, starting a business in Lesotho in just 3 days – its possible with us!
Steps of Company Formation:
1) Select company name: If you have a clear idea of the name of your business, it is imperative that you check to see if it is a pre-booked name. If it is unavailable or there are other obstacles to choosing a name (some words and phrases can only be included for a special fee), then other options are worth considering. You can even start the process right away by filling out and submitting a company name check form on our website. Our company will conduct a review in the shortest possible time and let you know if the selected company name is free.
2) Filling out the application form: Fill out our company formation application form online and send it to us! The identity of the director and the ownership structure are already required, as both the personal details of the members of the company and the area of activity essential to the operation are recorded. In addition to the already accepted company name, you must also make a statement about your equity and registered office in Lesotho. Every company need to have a regsitered address in Lesotho. If approved by the Court of Registration of Lesotho through our intervention, the company will receive a tax number and will be registered with the authority.
3) Submit Certificate: As soon as the company court has completed the registration of the company, we will send the company registration documents in PDF or hard copy if the company registration package contains it or if the customer requests so. At the same time as sending the certificate, we will send you our country brochure and useful tips and addresses that the company will most likely need in your lifetime.
4) Upon receipt of the documents: It is a good idea for the company to open its own corporate bank account to get started as soon as possible. Also the newly registered business need to obtain a business licence for its trading.
5) Accounting: After registration, the company court and we will notify the Lesotho tax office of the formation of the company.
What do you need:
For company formation you need to provide:
- Company information
- Directors Consent Form
- Identification for each Director(s) and Shareholder(s)
- List of Shareholders
- Tax Document
The most common forms of business in Lesotho:
- Private Company: Private limited liability company can be regsitered with one shareholder only, and a maximum of 50 shareholders. This is the most common used company format in Lesotho. Directors of the company consent to be fully liable for the breaches of duties and debts to the company.
- Public Company: Its shares offered to the public as well as being quoted on a stock exchange.
- Non Profit Company: a public company but prohibits its dividends to the members of the company. The company is operates in the interest of the public.
What you need to know about Lesotho companies?
If the business requires special trading licences for its activity, then at least 51% of the shares of the company must held by Lesotho citizens. Some licences are restricted to the use of Lesotho citizens only. Lesotho is open to foreign investment without case-by-case approval or a requirement for partial national ownership, with the exception of a defined number of small-scale businesses in certain sectors that are reserved exclusively for Lesotho citizens to encourage local entrepreneurship. The activities reserved for local ownership include: agent of a foreign firm; barber; butcher; snack-bar; domestic fuel dealer; dairy shop; general café or dealer; greengrocer; broker; mini supermarket; and hair and beauty salon. Foreigners are not permitted to own or sit on the boards of these businesses. Foreign firms must have at least 20% local ownership to title land.
At the end of each tax year, companies operating in Lesotho are required to make a statement in the company bulletin with details of the company and the director, as well as their registered capital. The documentation must be submitted to the Court of Registration, even if no changes have been made to the company within one year. In addition, an Annual Report statement is required for annual results. This means that a company must file at least 1 mandatory tax returns per year:
- Annual Report
So, when you start a business, it’s worth buying the accounting package that already contains the return. This can avoid a lot of burden and hassle at the outset. Our company offers these declarations to its clients as a bookkeeping package for “Dormant” companies.
What happens after the company is founded?
As soon as the company court registers the company, the same day we will send you the company documents and the certificates that are included in the ordered company formation package. After that, we call our clients for consultation, where we reconcile the data (no typing error, etc.) and discuss any remaining issues.
We present our Start Folder for the company, which provides useful help and guidance for the operation of the company.
After receiving the incorporation documents, the company must start:
- A bank account opening
Recommended Lesotho Banks:
What you need:
- Valid identification documents
- Proof of Address (Less than 3 months old)
- Personal Bank statement from the past 6 months
- Statement of assets and liabilities
- Latest financials for the business
The decision is expected to take at least two weeks from now.
More to do:
- To figure out the colors and the image of the company
- Select a business phone number
- Design and production of company logo and business card, letterhead
- Creating a slogan
- Domain name selection, reservation
- Creating a business website and business email addresses
- Creating Social Pages
- Preparation of company stamp design
- Invoice template design (manual and online versions)
- Find free ad spaces
- Finding paid ad slots
- Preparing a business plan (for the first 5 years)
- Preparation of marketing plan
- Preparation of financial plan
- Design and production of leaflets and marketing materials
- Figure out the company music (what music or melody will identify the company)
- Company banners, company videos (with selected music background)
- Choosing an office and its equipment
- Privacy Registration & GDPR Regulation Preparation
- Obtaining the necessary operating licenses
- Introduction of the company and its activities into the “public awareness” (familiarization with family members, friends, acquaintances, old colleagues, etc.)
- Finding business partners
- Select an accounting package
- Start trading
Why choose us if you are planning to start a business in the country?
- Because we are experts in starting a company
- Because by phone, Skype, email or in-person, you can get a complete picture of company formation and regulations in a short space of time.
- Because the process can be started in our office or starting a company on our website can be faster. This way, we make it easier to start a company.
- Because we have other useful ancillary services available, such as the Home Service and full accounting, payroll.
- Because we help you open a bank account
- Because we are experts in accounting
- Because we make accounting easier
- Because we provide our own billing software
- Because we pay attention to deadlines
- Because we always pay attention to bills
- Because we optimize billing on a quarterly basis
- Because we have flexible and interoperable accounting packages
- Because we know what companies need:
- Because we give you a guarantee to start a business
– We provide headquarters in Maseru
– We provide domain registration
– We provide your own email address
– We provide hosting service
– We provide website creation
– We provide the Web Applications (IOS & Android)
– We provide search engine optimization
– We provide an advertising space in our own online newspaper (https://symfalogic.news)
– We provide ad management on Google, Facebook, Yahoo, and Bing
- Because we provide borrowing opportunities for start-ups as well
- Because we have supervised sales companies
- Because we are 6 different speak languages
- Because we are currently establishing companies in 13 countries
- Because we have been dealing with accounting since 1999
- Because we have been starting a company since 2013
- Because in 2018 our company has been selected by the IFCFA Association as a prominent member.
- Because we offer our customers a variety of payment solutions, from which they can choose the most convenient, the simplest: billing with PayPal or credit card, bank transfer, or cash in our office. The company formation process can be started immediately after registration on the website and data reconciliation.
The Lesotho is waiting for you! – get started in african company incorporation,
and ask for help with any business matters! We look forward to to hear from you at any of our contacts!
Phone: +972 – (2) – 372 – 3800
Skype: Symfalogic Corporation
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