Starting a business

Wed, 30 Mar 2016…       abdulnaisr hamid

Legal Forms of Incorporation in Sudan

  • Legal forms of incorporation in Sudan include: Individual property; partnerships, public or private limited liability companies, and branches of foreign registered companies.
  • On average, completing the necessary registrations required to start a business in Sudan takes 36 business days.
  • Commercial registrar OSS is working with the Commissioner of taxation and Zakat (alm) only. Though an electronic commercial registration service is currently being developed and will soon be available on-line.
  • The Companies Act 1925 regulates incorporation of companies in Sudan by way of registration. Under this Act a foreign investor may either incorporate a company registered in Sudan as a Sudanese company or set up a branch of a foreign company. The Act recognizes the following forms of companies:
    • Private companies with limited liability;
    • Public companies (also with limited liability) but with the right to offer its shares to the public at large;
    • State owned companies (100% owned by the state).

Following is a summary of the procedures and related completion time and cost for setting up a private limited liability company:

 

Procedure

Estimated Time

Cost (SDG)

1

Submit application for preliminary approval to Registrar and reserve company name

3

283

2

Notarize memorandum and articles of Association

2

350

3

Notify Tax chambers

1

55

4

Register with commercial registry

4

Stamp duty and other application/administration fees

5

Apply for tax identification number

1-2

5

6

Register for VAT

2 (simultaneous with prior procedure)

No charge

7

Register with labor authorities

14

192

8

Enroll employees for social security

3-7

25

9

Make a company seal

2

40