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Understand the Jurisdictions Setup Requirement Before Proceed Your Afghanistan Company Incorporation Services
Afghanistan is a new market for many foreign investors, and new markets can prove to be both exciting and challenging at the same time. There is definitely opportunity available in Afghanistan for international investors to take advantage of, especially for the distribution of products and services that are suitable for the needs of the lower income developing countries.
Afghanistan has a growing middle class population along with plenty of local and highly capable companies that a foreign investor could explore doing business with. The country also has significant potential lying with the minerals and oil and gas sectors. The current low levels of competition in that market opens new opportunities for investors to bring in new products that could be a potentially good fit for the needs of the local market.
Being a new market however, does come with its risks, especially in a once volatile country like Afghanistan. As an investor who is about to venture into this sector, some of the risks that you would need to be wary of include possible terrorism and kidnapping threats, bureaucracy, a weak infrastructure system, corruption and it is ranked poorly by the World Bank for the ease of doing business.
Hiring reliable and experienced workers who can speak fluent business-level English can also prove to be somewhat of a challenge, especially considering that the government has put a restriction on the number of foreign workers which are allowed to work in companies.
Afghanistan Company Incorporation Procedure
To get your company incorporated in Afghanistan would require the following procedures to be fulfilled:
- Getting the company registered and acquiring a Tax Identification Number (TIN) – Registration of the company must be done at the Afghanistan Investment Support Agency and the applicant must provide the application form, a copy of the ID or passport, two sets of colour passport photographs, articles of incorporation and the tax identification form for submission.
- Paying for the registration, publication and license fees – The payment must be made to the Afghanistan Investment Support Agency who will issue the bill to be paid.
- Acquiring the license from the Afghanistan Investment Support Agency – The license will be issued once full payment has been made to the agency.
The director and the shareholders of a company incorporated in Afghanistan can be of any nationality. For an LLC business entity, Afghanistan’s corporate law ensures that the LLC will be able to invest in all sectors of the economy regardless of the company’s ownership.
It is mandatory for a company secretary to be appointed for any investor wishing to start a business in Afghanistan. A local registered business address is also required for legal and tax purposes.
Need help getting started on your Afghanistan company incorporation process? 3E Accounting’s incorporation services are unparalleled and we are more than happy to provide guidance and assistance in any way you need. For more information on our full range of services, contact us today.