Starting a business in eSwatini: foreigner's guide (2026)

100% foreign ownership of private companies is permitted in most sectors. A mandatory 50% equity stake (25% to the King in trust for the Swati Nation, 25% to the Government) applies to all mining ventures under the Mines and Minerals Act 2011. Trade in firearms, explosives, hazardous waste, and security printing is reserved for citizens.

The Companies Act 2009 (Act 8 of 2009) governs company formation and operations. The Registrar of Companies, within the Ministry of Commerce, Industry and Trade, processes all incorporation filings.

Key steps are: (1) reserve a company name (submit three alternatives); (2) prepare and file Memorandum and Articles of Association; (3) submit incorporation application with certified passport copies of directors/shareholders and a registered-office address to the Registrar; (4) obtain a Tax Identification Number from the Eswatini Revenue Authority; (5) obtain a trading licence. EIPA facilitates these steps for foreign investors through its one-stop shop.

There is no statutory minimum paid-up capital for private companies; a nominal authorised capital is declared at incorporation. Public companies require authorised capital of at least SZL 500,000. Registration fees are tiered by declared capital level.

Incorporation with the Registrar typically takes 3–7 working days after document submission. Full operational readiness including tax registration, trading licences, and work permits for foreign directors generally takes 3–5 weeks in total.

EIPA facilitates 5-year work permits for company directors and 2-year work permits for expatriate employees. These must be obtained before foreign nationals commence work, adding steps and time to the setup process.