Business accounts: Namibia
An honest assessment before work starts, the quote is fixed in writing.
Namibia is a stable southern African country with a developed banking system closely linked to South Africa. The Namibian dollar is pegged one to one to the South African rand, and the country is part of the Common Monetary Area with South Africa, Lesotho and Eswatini. A Namibian account is needed by companies operating here in mining, energy, tourism, fishing, logistics and regional trade.
Who Namibian banks open company accounts for
| Company | Chances | What the bank cares about |
|---|---|---|
| A Namibian company with an office and activity in the country | high | registration, address, tax number, real operations |
| A Namibian company with foreign owners | medium | registration of foreign investment, source of capital, an in-person meeting |
| A foreign company with no activity in Namibia | low | why a Namibian account is needed |
A Namibian company for the account
The main form is the private company (Pty) Ltd, registered by the Business and Intellectual Property Authority (BIPA). Foreigners can own it fully. The company needs a registered address in Namibia, an accounting officer or auditor, and a resident public officer for tax. Banks also ask for beneficial ownership details under the Financial Intelligence Act.
Exchange control
Foreign exchange is controlled by the Bank of Namibia. For a foreign owner the key is to document the inflow of capital correctly: funds are brought in through the bank and recorded as foreign investment, so dividends, interest and capital can later be sent abroad with supporting documents. If the inflow is not recorded, taking money out is delayed. Within the Common Monetary Area transfers to South Africa are simpler than to other countries.
To send dividends abroad the bank usually asks for the dividend resolution, approved financial statements and proof that non-resident shareholders tax was paid. We prepare these in advance so the first payout does not get stuck in review.
Company taxes
- Corporate income tax for non-mining companies - 30% from 1 January 2025, with a cut to 28% announced by the government.
- Dividends to a foreign shareholder - 10% if it is a company holding at least 25%, otherwise 20%, or less under a tax treaty.
- VAT - 15%.
Documents and timeline
| Stage | What is needed | Time |
|---|---|---|
| 1. Corporate documents | registration certificate, memorandum, directors and shareholders, tax number | 1-2 weeks |
| 2. Owners' and directors' documents | passports with certified copies, proof of address, and for foreigners living in Namibia a permit or visa | 1-2 weeks |
| 3. Business and funds | business description, contracts, source of capital, investment inflow plan | 1-2 weeks |
| 4. Review and meeting | the bank usually meets the director in person | 2-6 weeks |
Deposit protection
The Namibia Deposit Guarantee Authority has, since 2026, repaid up to N$50,000, about $3,100, per depositor per bank. For a company this is small, so large balances are usually placed in bank instruments or spread across banks.
Why Namibian banks refuse
- No real activity or address in Namibia.
- The capital inflow was not recorded as foreign investment, or the source of funds is not evidenced.
- The director cannot attend a meeting and the bank does not verify remotely.
- Owners or counterparties are from sanctioned or higher-risk countries.
- Incomplete corporate documents or no public officer for tax.
How we help
We register a Namibian company or review an existing one, prepare corporate documents and the source of capital file, plan the investment inflow so dividends and capital can be repatriated, choose a bank and handle the meeting and review until a decision.
What we do
- Corporate account - opening assistance
See also
Personal account · Investment property · Country taxes · All country programs
FAQ
Can a foreigner open an account for a Namibian company?
Does Namibia have exchange control?
Is a local director or staff needed?
What documents does the bank ask for and how long does it take?
What is the corporate tax rate in Namibia?
Is company money protected at a Namibian bank?
Doing business in Namibia and need a local account?
We assess your company's chances with Namibian banks, prepare the compliance documents and explain the exchange control rules for payments with South Africa and beyond. The catalogue covers every country.
The Murblz consultant replies straight away in the chat on this page. Describe your situation and we will work it out together.
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