To start a business in a country, you need to know about its economy first. You will also need to have a primary idea of the whole process of starting the business. And we are here for you to help.

South Sudan is ranked 185 among 190 economies in the ease of doing business, according to the latest World Bank annual ratings. The rank of South Sudan remained unchanged at 185 in 2019 from 185 in 2018.

How is the Economy of South Sudan?

The economy of South Sudan is reliant on crude oil, subsistence farming. Oil accounts for over 98% of governmental income. Natural resources found in abundance in South Sudan include crude oil, limestone, iron ore, copper, chromium ore, zinc, tungsten, mica, silver, gold, and diamonds. Natural resources are largely still untapped. The third-largest oil deposits in Sub-Saharan Africa are found in South Sudan. South Sudan depends on Sudan to transfer oil through Sudan’s pipeline to the oil terminal at Port Sudan facilities in the Red Sea state of Sudan because to a lack of infrastructure and its location as a landlocked country.

The South Sudan government has taken some steps to promote investment in the country. Some of these include:

• Establishment of the South Sudan Investment Authority (SSIA)
• Development of investments laws that spell out the guidelines in the country
• Equal treatment and opportunity for local and international investors
• Enactment of specific laws that support investment by making provisions for attractive fiscal regimes
• Protection of industrial and intellectual property rights
• The credible guarantee of legal security and investment stability
• Repatriation of profits and dividends, custom duties exemptions, as well as reduced red tape and bureaucracy.

The specific investment principles In South Sudan include:

Policy of non-discrimination

Foreign investors can invest in and run businesses in any sector in Southern Sudan.

Guarantees against expropriation

The government shall not nationalize any enterprise. Further, no investor will be compelled (by law or otherwise) to cede any part of investment capital.

Protection of Intellectual Property laws

The government shall protect all intellectual property and rights of all persons and investors. All trademarks, copyrights, patents, etc. will be enforced.

Access to Public Information

Investors have open and direct access to all laws and decisions of courts, other adjudicative bodies and to any public information.

Repatriation of capital, profits and dividends

Investors have the right to freely repatriate their money in freely convertible currency or dispose of it in any manner they deem fit, subject to tax and other lawful obligations.

Dispute Resolution

Any aggrieved investor has recourse to the courts of Southern Sudan which has jurisdiction over business disputes. Parties to a dispute are also free to specify alternative dispute resolution mechanisms they may agree upon. Any investor in dispute with the Government of South Sudan has recourse to internationally accepted dispute resolutions mechanisms.

How to a Start Business in South Sudan

Choose your business structure

The first step in registering your business in South Sudan is to determine the type of business structure you want to form. You can choose from the following options:

Sole proprietorship: This is a business owned and operated by one person.

Partnership: This is a business owned by two or more people who share profits and losses.

Limited liability company (LLC): This is a business structure that combines the benefits of a corporation with the flexibility and tax benefits of a partnership.

Corporation: This is a separate legal entity from its owners and provides liability protection for the owners.

Choose your business name

The next step is to choose a name for your business. Your business name should be unique and not already registered by another business. You can check the availability of your business name by conducting a search on the South Sudan Business Registry website.

Obtain a business license

Before you can register your business, you will need to obtain a business license from the Ministry of Commerce, Industry, and Investment. You will need to submit the following documents:

• A completed application form
• A business plan
• A certificate of incorporation or a certificate of registration of business name
• A tax clearance certificate
• A copy of your national ID card or passport
• Payment of the application fee

Register your business

Once you have obtained your business license, you can proceed to register your business with the South Sudan Business Registry. You will need to submit the following documents:

• A completed registration form
• A copy of your business license
• A copy of your national ID card or passport
• Payment of the registration fee

Obtain other necessary licenses and permits

Depending on the nature of your business, you may need to obtain other licenses and permits from other government agencies. For example, if you are opening a restaurant, you will need to obtain a health certificate from the Ministry of Health.

Open a bank account

After you have registered your business, you will need to open a bank account for your business. You will need to provide the bank with your business registration certificate and other relevant documents.

Requirements to start business in South Sudan?

• Having a National ID or Passport of the traders.
• Contact information of the directors / shareholders – Email address, telephone numbers, postal address and residential address.
• Proposed Registered office of the company.
• Contact information of the company – Telephone number, email address and postal address
• Authorized Share Capital of the company
• Nature of business and objectives of the company.
• Division of shares between the shareholders of the company.
• Nominal capital of the company.

Documents required for company registration in South Sudan

• Scan of clear national Identification card or passport of the Directors.
• Scan of Passport photo of the directors.
• Signed and Stamped Copies of the Memorandum and Articles of Association of the company.
• Name reservation notification letter.
• Where the shareholder is a corporate entity, the original Resolution of the company shall be required.

What are the steps to register a company in South Sudan?

The following steps are requires to register a company in Juba.

• Make a name reservation application.
• Draft the Memorandums and articles of the company.
• Execute the company registration forms.
• Attach copies of the passports and passport photos of the directors.
• Submit the application for registration.

Conclusion

We encourage you to go for the business you are trying to start in South Sudan. With proper security and knowledge you can too thrive. Do keep in mind that this place is widely untapped. So, there are varity of opportunities exist.