Starting a business in Rwanda as foreigner in 2024[complete guide]
Navigating the business registration process can be overwhelming to locals and especially for foreigners. Entrepreneurs looking to establish a business in Rwanda often struggle with understanding the steps, paperwork, and legal requirements needed for starting a business in Rwanda as foreigner in 2024.
This guide simplifies starting a business in Rwanda as foreigner in 2024. We provide a clear, step-by-step approach to registering your company and obtaining investment certificate, tailored for both local and foreign entrepreneurs.
Rwanda ranks 38th globally and 2nd in Africa for ease of doing business, with a streamlined online registration process that can be completed in just six hours. Join the growing number of successful businesses, thriving in Rwanda’s supportive economic environment by following this comprehensive guide.
Step 1: Register Your Business in Rwanda/company formation in Rwanda
Prepare for Registration:
- Have an active email address.
- Keep your ID or Passport ready.
- Determine your company name, provisional business activities, and office address.
- Collect shareholders’ particulars, board members’ particulars, and directors’ particulars.
Necessary Documents:
- Power of Attorney: Notarized, to present the company in Rwanda.
- Memorandum Articles of Association: Notarized copy.
- Certificate of Registration/Incorporation: Notarized, issued by the registration authority in the country of incorporation.
- Notarized Resolution: Authorizing the opening of a branch.
Register Online:
- Access the RDB business registration system.
- Choose the appropriate business category (e.g., domestic company not VAT liable, VAT liable, or large company).
- Complete the business registration application online.
Register, Declare, and Pay Taxes:
- Register for taxes, including VAT if applicable with Rwanda Revenue Authority.
- Ensure compliance with all required tax obligations. Tax advisory.
Key Information:
- No business registration fees are required.
- It takes only 6 hours to register a company.
- The entire process is online, eliminating the need for physical presence.
Step 2: Requirements to Get an Investment Certificate in Rwanda.
Online Application:
- Apply online at osc.rdb.rw by creating an account.
- Obtain a Company Incorporation Certificate from RDB the Office of Registrar General Use the Company Code/TIN for online applications.
Application Letter:
- Write an application letter addressed to the CEO of Rwanda Development Board requesting an Investment Certificate.
Business Plan Requirements:
1. Executive Summary
- Outline the key aspects of the project.
2. Project Promoter(s) Profile
- Details about the people behind the project.
3. Project Background
- Information on the origins and development of the project.
4. Market Study/Analysis
- Insights into market conditions and potential.
5. Financial Information
- Include the level of loan and equity financing, if any.
6. Projected Income and Expenditure
- Statements for the next 5 years.
7. Planned Investment
- Financial schedule & capital cost over the next five years, including land, construction, plant/machinery, working capital, and other assets.
8. Projected Balance Sheet
- Financial projections for the next 5 years.
9.Loan Amortization Schedule
- If any bank loans are involved.
10. Project Implementation Plan
- Detailed action plan.
Fee Payment:
- Pay a non-refundable fee of US $500 for an Investment Certificate.
Some of criteria for investment project evaluation
- Non trading activity
- Creation of quality jobs
- Transfer skills and technology
- Use of local raw materials
- Potential for export
- Potential to create backward and forward linkages
- Innovation and creativity
Starting a business in Rwanda offers incredible opportunities, but navigating the process can be complex. Sokrab, Rwanda’s leading business advisory firm, is here to simplify your journey.
With our expertise in local regulations and market insights, we provide personalized support to turn your business idea into a success. Whether you’re setting up a new company or expanding an existing one, we’re ready to help.
Ready to get started?Contact us today to see how Sokrab can help you achieve your business goals in Rwanda.
Frequently Asked Questions
Why is Rwanda an attractive destination for starting a business?
Rwanda offers a business-friendly environment with a quick and cost-free registration process, a supportive government, and a strategic location in East Africa. It’s also known for its ease of doing business and transparent regulatory framework.
What services does Sokrab offer for businesses in Rwanda?
Sokrab provides end-to-end business advisory services, including company registration, tax compliance, market analysis, business planning, and ongoing operational support tailored to both local and international entrepreneurs.
Can Sokrab help with ongoing compliance and business management?
Yes, Sokrab offers ongoing support for managing compliance, tax obligations, and overall business operations, ensuring that your business runs smoothly and meets all regulatory requirements.
What are the key tax obligations for businesses in Rwanda?
Businesses in Rwanda must comply with corporate income tax, VAT (if applicable), withholding taxes, personal income tax for employees, and social security contributions. Registration with the Rwanda Revenue Authority (RRA) is mandatory.
📞 Let's Connect!
Ready to unlock the potential of your business? Reach out to us. Your success story with Sokrab Ltd awaits!
Quick Links
Head Office
Office No. 504, Port Saeed, Al Wahda Building, PO Box 31367 Dubai, United Arab Emirates
Rwanda Office
Kigali, Kacyiru, 68 KG 684 st
Office Hours
Monday - Friday 09 AM - 05 PM
- info@sokrab.com
- +250793897842