In Botswana, non-exempt companies and public companies should comply with IFRS and company law schedules and other laws relating to accounts while Exempt private company will comply with generally accepted accounting principles.
YourGlobalPro professionals can assist you with the entire bookkeeping and accounting services for your Botswana Business Setup as per your business needs including implementation of financial accounting software, accounting records preparation and time to time preparation of budgets, forecasts.
In Botswana, all companies incorporated are required to prepare annual financial statements. The Botswana Companies Act prescribes the basic contents and form of financial statements, and it requires that the financial statements of the companies, except private limited companies meeting certain thresholds, be audited annually.
Based on the size of the business – the companies are required to prepare and file financial statements with the Authority. YourGlobalPro professionals provide you auditing services as required by your business.
The Bank of Botswana is the central bank in Botswana regulating the Banks in the Country. The Country’s competitive banking system is one of Africa’s most advanced. The accounts can be opened and maintained in multi-currency and is available for all major currencies with the Banks.
The documentation requirement differs from Bank to Bank and need to be complied for the Bank account opening. The major banks in Botswana are ABN AMRO, ABN AMRO Outside Banking Unit, BancABC, Bank of Baroda, Bank Gaborone, Barclays Bank, Capital Bank, First National Bank, Stanbic Bank, Standard Chartered Bank, Bank of India. All banks are stable, reliable and offer the same level of services.
YourGlobalPro professionals can facilitate all the paper work in relation to banking need and can assist you in opening bank account for your business plan in Botswana.