To register a company in Malawi, firstly, you register a business name.
There many business ideas to start in Malawi. When you identify a business idea to start in Malawi the next thing to do before you launch your business is to register a business name. Register a company in Malawi to make your business formally recognized.
If you want to know steps required to register a company in Malawi read on as I will show you the steps to follow. If you are doing business in Malawi your business it is either you have an informal business or a formal business.
In Malawi 79% formal business started their operations without being registered (Enterprise survey Malawi, 2009). The statistics clearly show that majority of businesses are informal, they are unregistered businesses.
In theory, doing business informally in Malawi affects a firm’s ability to source finances and access markets (World Bank). Therefore, congratulations for deciding to learn on how to register your business in Malawi. You are unique!.
Malawi online business registration
Malawi online business registration is the easiest way to register a business in Malawi online. In the past registration of a company was being done offline. To register a business online in Malawi, sign up on the Malawi registrar website. Once signed follow the rules to get your company registered.
Offline company registration requires that you download or get a copy of the Malawi business registration forms at the registrar general office and complete the form by filling in the details. Malawi online business registration is expected to increase the number of registered businesses in Malawi.
Online business registration is user-friendly, quick, and simple yet secured. There are many business opportunities to start in Malawi. If you have the best business idea to start business in Malawi there are many benefits of registering your business. As such before we look at the steps required to register a business let’s look into benefits of formalizing your business.
Benefits of registering a company in Malawi
You will get the Business registration certificate (BRC).
Be able to open a business bank account.
Acquire land for your business.
Qualify to apply to government assistance programs.
Acquire export license to export goods to other countries from Malawi.
Access business loans from lending institutions like banks.
Business registration helps the government to know that a business or company exists.
See also 20 Small Business Ideas To Start in Malawi
Disadvantages of informal business
While doing business in Malawi formally has many benefits, but there are several problems that come when doing informal business in Malawi. Some of the challenges are on the list below: The tendency to combine household and business resources negatively affects business efficiency and often results in depletion of capital resources.
Informal businesses typically grow more slowly There is poor access to business credit or loans. In informal sector there are fewer employees. As most informal business owners tend are self-employed and do not take advantage of leverage in terms of labour and technology.
That is all about advantages and disadvantages of registering a business in Malawi.
Now here are the steps to follow in registering a business in Malawi.
Reserve a company name. Business name has to be unique. Malawi company search takes place at the registrar general’s office to see if your chosen company name is available for registration.
Apply for a certificate of incorporation Register for income tax with the Malawi Revenue Authority (MRA) Obtain the company seal. This may a take up to one waiting week.
Obtain license from the city assembly. You can get the license from Blantyre, Lilongwe, or Mzuzu city assemblies. Obtain registration of the workplace from the occupational safety, health, and welfare department. Officials will come to inspect workplace. Once you meet the minimum requirements you will get the certificate or be advised on areas to improve if you haven’t satisfied the needs.
Register for pay as you earn (PAYE) and fringe benefit tax with Malawi Revenue Authority (MRA)
Requirements for Formation of a company in Malawi
According to Malawi companies’ act 2013; people can register private or public company if they meet certain requirements. To register a private company in Malawi there has to be a minimum of two persons associated for any lawful purpose.
Association two or more people can either be intellectual property or sharing capital. Registering a public company requires a minimum of seven people (Malawi companies’ acct, 2013).
Some of the required information to register a company in Malawi
Find a company name Name(s) of company owner Nationality of company owner Number of employees Post office and physical address Share capital Contacts i.e. phone numbers, and email address You may also read Top 10 Causes of Death in Malawi
5 Keys areas to build a successful small business in Malawi
Identify (create) a burning need/problem in the society.
Any successful business exists to solve a problem within the environment.
Create a product or service that solves the problem you find
A business is about provision of unique physical/digital products or services to the target customers. Success in business requires that people should have the willingness to pay you in exchange for the products or services you offer.
Make a simple business plan
A business plan is the blue print of your small business. Your product or service has first to succeed on the paper before it has to succeed on the ground. Write a business plan to guide you through the life of the business. There are also simple business plan templates that you can download and change them.
Related post Easy Ways to Make Money
Register your business
You can register your business through the Malawi online business registration is the new way of registering a business online.
Naveed
Can a person register a company while he is a foreigner and not in malawi?
Chimwemwe Nuka
Hello
It is now possible to to register online.
Shaheed
Hi Mr Nuka. Can me as a foreigner also make use of the online business registration process ? Also what is the possibility of contacting you by email?
elfummek
can u put a link for online business registration pliz.
Chimwemwe Nuka
Hello Elfummek
Find below the link for online registration. http://www.registrargeneral.gov.mw
Abraham Chiso
Thanks for this info. Chimwemwe.
Abraham Chiso
Would this online registration be complete or there would still be some things that will require one to go to one of those offices to finalise the registration?
Chimwemwe Nuka
Hello Chiso
Thank you for finding the info useful.
I am not sure on whether there are other physical requirements. There is need to research further on this. You can verify by proceeding with the online registration and find out along the way if there is need for additional requirements.
Regards.
james jaloo
I want you nuku to talk private with me because a got many question to ask
Chimwemwe Nuka
Hie James
You’re most welcome, we can talk.
Email me on chimwemwe@mawila.com
Sellah
Thanks for the useful info.
Chimwemwe Nuka
Hello Sellah
Thank you for finding the info useful and for visiting the blog.
charles chipakapaka
i am charles chipakapaka from mzuzu university. i want to know how much to register a business. i want to do agribusiness in our village in lilongwe.
Sam machaka
Am Sam I want to know much to register a bussiness .I need to start car wash bussiness in Blantyre.
Shafiq
Very helpful article, good job Sir.
I am on my first steps to registering a business/name and this article has enlightened me. Thanks
Chimwemwe Nuka
Hello Shafiq
Thank you for finding the article helpful.
I appreciate.
Regards
Mohammad jabir
Hi mr nuke hope you have a good day
I m Mohammad jabir from Pakistan my brother
Is living in blentyre Malawi
I need to ask you about business registration online?can I do from Pakistan
Chimwemwe Nuka
Hello Mohammad
The online registration is not efficient.
I think the best for you is to ask your brother in Blantyre to register the company on your behalf.
fortune
Hallo chimwene , I am Fortune from Zimbabwe, can I use the company I already have registered in Zim, to operate in Malawi what are the requirements?
Hector Chilimani
Quiet helpful information that you are sharing here @ Chimwemwe Nuka. Kudos!!
Peter King
I have a company registered in Kenya. How can I register it in Malawi
Mike Rex
Is it possible to register a business in Malawi if you are not a Malawian citizen?
Chimwemwe Nuka
Hello Mike
It is possible to register a business in Malawi as a foreigner.
Tallat Mahmood Bajwa
Hello sir,
I am Tallat Mahmood Bajwa Advocate from Pakistan, last month I have visited malawi to
Attend a marriage ceremony of my friend,s daughter at Lilongwe.
I have observed our there that motorbikes were too much rare on roads of Malawi.
May I start a motorcycle/ motorcycle loaders
Along with its parts business in Malawi
Plz advise me
Mostapher
How do you do Mr Nuka. I am malawian citizen who has been out of Malawi for many years. I can confirm to you that your information is so helpful and useful.
Helbert
Very helpful information
Fatsani K
Quite an eye opener. However, I have a question on taxation. If one is working as an independent consultant/Freelancer, what kind of tax are they required to pay? I’ve heard some say one would pay Income tax, but income tax requires business registration.
For instance, I’m a freelance online trascriber and i want to register for taxation and I’m told to pay income tax which requires a business registration etc. Is this correct?
Rexson scover
How can i download applications form online?
Samson Mzumara
Hello Mr Nuka am Samson Mzumara from nkhata-Bay Malawi live in South Africa
How to register company in Malawi while am still at South africa?
Blessings C Banda
Very useful.
Chimwemwe Nuka
Hie Blessings. I am glad you found the article useful. Cheers!!
Starford mangadzuwa
Hy Mr Nuka what added advantage are there now for youth of Malawi to start business in Malawi. Because most of the time we struggle to get registered. I hope you understand what I’m trying to say, I wanna start electronic business I do have stock available for the start up business.
Godwin Narnor
Hello,
I’m a Ghanaian engineer residing in Norway planning to start a company in Malawi by registering online and would like you to assist me with certain issues regarding business address, phone number in Malawi so as to enable me establish the business prior to my arrival in person if that is possible at all. Also, how much is the registration of a private limited liability company going to cost?
Best regards
Chimwemwe Nuka
Hie Godwin
Legal charges cost starts K2o0,000 upwards
Contact me using the contact details for more
G-hope
Am Hopeson I want to know how much cost if you want to register an organization