They must present a board resolution of the company to invest in Rwanda

They must present a board resolution of the company

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They must present a board resolution of the company to invest in Rwanda, articles and memorandum of association of the parent company and certificate of incorporation. Cost and time: There are two types of businesses, those that are regulated that need secondary licenses and those that require standard procedures. Those that require standard procedures pay fees ranging between Rwf 12,000 to Rwf 100,000 depending on the type of the business. The tariff is available at the company registry at RDB. It takes 1-2 days to incorporate a company. 5.6.5. Registration of trademarks and trade names Trademarks and trade names are registered upon submitting an application letter to the Registrar General of RDB. A reproduction of the mark in 4 specimens not exceeding 8cm of height and 10cm of width and an application fee of Rwf 18,000 regardless of the classes.
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OPENING A BANK ACCOUNT: A Company is required to submit a letter from the Managing Director nominating signatories to the account. A notarised copy of the articles and memorandum of association. A copy of the certificate of incorporation, a copy of the passport/identity card of the signatories to the account and 1 passport photo for each signatory. There are seven commercial banks operating in Rwanda with corresponding banks namely: Commercial Bank of Rwanda (Citibank N.A and ING Belgium NVISA) Access Bank (Fortis bank- Belgium, Citibank N.A- London-UK) Banque Populaire du Rwanda (Rabobank Netherlands) Banque de Kigali (Banque Nationale du Canada, Intesa-Italy, Fortsi Bank-Belgium, Deutsche Bank-Germany and Bankers Trust Co. NY) Cogebanque Ecobank(Citibank N.A, Standard bank of South Africa and DZ Bank Frankfurt) Kenya Commercial Bank (KCB) Fina Bank (Citibank N.A and Commerz Bank Frankfurt). Cost and time: Accounts are opened instantly and there is no cost incurred. 5.6.6. Registering with the Rwanda revenue authority I. Tax Identification Number (TIN) Within seven days of incorporation of a business, companies and individuals are required to register with the RRA to acquire a TIN. It takes 30 minutes to register and obtain a TIN. II. Value Added Tax Any company or individual that engages in business activities exceeding a turnover of Rwf 20,000,000 in a fiscal year or Rwf 5,000,000 in the preceding calendar quarter is required by law to register for VAT with RRA within a period of seven days following the end of the year or from the end of the quarter mentioned above. However any person/company who/which is not required to register for VAT by law may voluntarily register for it. Note : In case the applicant did not do this process at a branch of Rwanda Revenue Authority in RDB, but instead happens to do it at the Rwanda Revenue Authority Headquarters, the applicant should fill in the “Non Individual Enterprise Registration Form (RRA-TRO-RGC- E04)” or “Individual Enterprise Registration Form (RRA -TRO-RGI- E04)”. However, if the applicant will register at a branch of Rwanda Revenue Authority in RDB, s/he does not have to fill in above form(s) 5.6.7.
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