Somaliland companies can become franchisers, exclusive agents or sole distributors for international or foreign companies as presently some local companies such as Dahabshiil Group represent international companies namely Galaxy and Hyundai.
The procedure for registration of such incorporation by MoTIT:–
- Application of the Local Agent Company to MoTIT stating the name and the type of business of the foreign company they are representing in Somaliland;
- Original copy of the Agreement they entered with the foreign company;
- The Local Agent Company must publicize their Exclusive Agency of the foreign company via the local media (Newspapers, TV, Radio etc) for twenty days;
- Receipt of $100 paid upon referral of MoTIT to the Inland Revenue Department;
- License valid for one year for the incorporation will be issued by MOTIT;
- NOTE: No any other company or business in Somaliland can claim the exclusive agency or any business partnership with that foreign company other than this registered as the Legal Exclusive Agent one and only;
· SOURCE: Ministry of Trade, Industry & Tourism (MoTIT).