If you are thinking of entering the field of international trade in the African continent, you have probably thought of registering a company in the African continent. Among countries in the African continent, Gambia is a small country in West Africa that offers an increasing number of opportunities for the formation of international maritime companies in the rapidly expanding financial market. Gambia adopted its Business Company Regulations in 2013 and has quickly become a popular offshore jurisdiction due to its quick incorporation process, simple corporate requirements and flexible structure.
Gambia is not blacklisted by any international financial agency and is fast becoming the fastest growing offshore financial center in Africa.
In addition, the country’s offshore financial market is integrated into the structure of their onshore organizations, which helps to formalize the appearance of the offshore industry.
A thriving tourist economy known for its sandy beaches and peaceful and safe environment. While Gambia offers an attractive option for forming an offshore company with a non-resident company in West Africa, in a country with few restrictions. It makes it very difficult to open bank accounts or process payments abroad.
Educational immigration to Gambia
Work migration to Gambia
Immigrate to Gambia by investment
Immigrate to Gambia by birth
Immigration to Gambia through companionship and tourism
Immigration to Gambia through marriage
Gambia is a small and open economy with a long history of trade. It is the smallest country on the continent, surrounded by Senegal, and has 60 km of Atlantic coastline, which has made it known as the “Smiling Coast of Africa”. A registered company can be a company with limited shares, limited by guarantee and unlimited company. A company can be formed if the articles of association and articles of incorporation, notice of the address of the company’s registrar, the consent of the shareholders or directors are registered by the registrar. Gambia’s wealth of terrestrial, coastal, marine and wetland habitats and species of local, national, regional and global importance make it an attractive investment and tourism destination.
The background of a favorable business environment is necessary to create opportunities and incentives for domestic and international business entry, growth and competition. The private sector thrives in a regulatory environment that creates a level playing field for businesses and allows businesses to register effectively. Obtaining necessary approvals and licenses, manufacturing or trading own products and establishing manufacturing facilities, government regulations regarding business start-up, licensing, standards and inspections are important tools that play a decisive role in creating a predictable and transparent environment for businesses while protecting consumers, public health and safety. By improving regulatory processes that increase transparency and eliminate unnecessary administrative tasks, the government reduces compliance monitoring costs. Despite some progress, the regulatory burden remains a key barrier for Gambian MSME businesses throughout their business life cycle, from business entry and growth to promotion and competition in the international market.
The Gambian economy is heavily dependent on agriculture. Gambia has no significant mineral or other natural resources and has a limited agricultural base. About 75% of the population depends on agricultural products and livestock for their livelihood. Small-scale manufacturing activities include the processing of peanuts, fish, and animal hides. Short-term economic progress remains dependent on foreign aid and responsible economic management by the government, channeled through technical assistance and advice from the International Monetary Fund. Gambia’s economy features traditional agriculture, historical reliance on groundnuts or peanuts for export earnings, and re-export trade built around its ocean port. Low import duties, minimal administrative procedures, fluctuating exchange rates without exchange controls, and a significant tourism industry. Industry accounts for 12% of GDP. The manufacturing sector constitutes 6% of the GDP. A limited amount of production is primarily based on agriculture (e.g. peanut processing, bakeries, breweries, and tanneries). Other manufacturing activities include soap, soft drinks, and clothing. Services make up 19% of GDP. In 2020, Gambia’s major export markets were Senegal, Mali, Guinea-Bissau, India, and China, which accounted for 84% of total exports. The neighboring country of Senegal accounts for 50.5% of exports. This was in contrast to 1999, when the UK and other EU countries were Gambia’s main domestic export markets, accounting for 86% of total exports.
For more information, you can contact the legal unit of the Iran and Africa Business Club every day and consult with our experienced lawyers. You can also fill out our legal consultation request form and through that our consultants will check all your conditions and contact you and inform you the necessary solutions.