A Private Company is a business company owned either by non-governmental organizations or by a relatively small number of shareholders or company members which does not offer or trade its company stock (shares) to the general public on the stock market exchanges, but rather the company's stock is offered, owned and traded or exchanged privately. In Tanzania to register a company in the United Republic of Tanzania is a right of those who wish to associate and form themselves into a company pursuant to the existing company laws.
Requirements:
Persons with prior relationships other than only business relationship e.g. Father and sons and or daughters, friends etc.
Minimum number of membership is two and maximum is fifty excluding persons who become member by virtue of being employees of the company.
The shares should not be freely transmissible. The transferability is subject to strict control and regulation.
Procedures:
Submit memorandum and Articles of Association, 14a and 14b
Pay registrations Fees Tshs. 45,000/= for the whole application.
Pay Tshs.6, 000/- for Stamp Duty of the original Memorandum and Articles of Association,
Pay Tshs. 1,200/- for Form no.1. Tshs. 5,000/- is paid as stamp duty for each copy of Memorandum and Articles of Association.
Note: All payments are payable to the Registrar of Companies. Filing fees are also payable and penalty for late filing is also levied.
Source: Government Portal Content Team, Last Reviewed on: 24-11-2015
