- Company constitutions adopted under Part V of the Companies Act 1997; and
- Company certificates of incorporation/registration.
What that means is that the IPA is no longer legally bound to collect stamp duty on these instruments. And therefore the adjusted registration fees are as follows:
- Application to locally incorporate/register a fully owned and managed local company (CO1) is now
K200 K500;
- Application to locally incorporate/register a company that includes foreign involvement as owner(s) and/or manager(s) of the company (CO1) is now K500.
- Application to register an overseas company or branch of an overseas company is now K500.
The IPA is also taking the opportunity to also advise that above adjusted fees will be reviewed upwards from 2009 onwards. The IPA also wishes to advise that any queries regarding the abolition of the stamp duty should contact the IRC directly as this is an IRC matter.
What happens to all the stamp duties paid on company registration since 1 January 2008?
The Business Registration & Regulation Division of the IPA merely collected fees for the IRC to speed up the registration process of companies and all the stamp duty collections from 1 January 2008 up to 31 July 2008 have since been remitted to IRC.
So any queries on refunds for stamp duty paid on company registrations from 1 January 2008 up to 31 July 2008 should be directed straight to the IRC.
But if you have any further queries on the adjusted fees for company registration/incorporation, you can contact Belinda Karl and Keron Kilip of the Business Registration Regulation Division of IPA on 321 3900.