What is business licence?

“Business licence” means a licence issued either in a paper or electronic form.

Is a permit or permission granted to a person to carry on a particular business at given place of business

Types of Licence

1. Business licence schedule “A” any business of national or international nature or governed by policy.
2. Business licence schedule “B” any other business which is not of national/international nature or not governed/preceded by policy.

What are the benefits of having a licence?

1. It gives businesses  legal recognition
2. Introduction to financial institutions for instance bank (during account opening)
3. Access to loans from financial institutions such as bank
4. Customers trust

Requirements for application of Business Licence

Natural Person

1. Proof of Citizenship (voter ID., National ID., Passport or Birth certificate; non-citizen Residence Permit Class A)
2. Tax Identification Number (TIN)
3. Proof by the applicant having suitable business premises for the business applied (Title deed, lease agreement, receipts of rent or property payment)
4. Additional requirements for specific business (Permit/Licence from a regulator)

Business name/company

1. Certificate of incorporation or certificate of registration
2. Information about proprietor (extract from the register) in the case of business name only
3. Tax Identification Number (TIN) of a company or business name
4. Confirmation taxpayer has paid all tax dues (Tax Clearance Certificate) for renewing the licence
5. Proof by the applicant having suitable business premises for the business applied (Title deed, lease agreement, receipts of rent or property payment)
6. Proof of citizenship and residence permit (non-citizen) for Directors and Shareholders of the company