If you are travelling the Gambia for a short visit and for vacation you may not necessarily need a TIN number. However, if you want to relocate to the Gambia, or carry out business transactions you will need to have a TIN number. In this blog, I will tell you all you need to know about obtaining a TIN number and what it can be used for. In addition, I will tell you how to open an account in the Gambia after you have gotten a TIN number.
What is TIN Number?
TIN is the acronym for Tax Identification Number. This is a unique reference number used by the Gambia Revenue Authority (GRA) to Identify business Tax records.
Why do you need a TIN number?
- If you live and work in the Gambia you would need a TIN number for Tax purposes and Tax clearance certificate.
- You need a TIN if you do business in the Gambia. Check the Gambia trade website for information on requirements for Opening a business in the Gambia.
- If you want to open a Bank account in the Gambia you need to already have a TIN. (More on how to open an account in the Gambia later).
- You would need a TIN for registration of Title deeds and Stamping of documents/ instruments.
- You would need to have a TIN number to clear the stuff you ship to Gambia through Custom.
- If you have cars or intend to have cars you need to have a TIN to register your car in the Gambia.
- For granting of Investment incentives and for Tax Exemptions.
How to get your TIN number Step by Step
Step 1: Visit to the Gambian Revenue Authority (GRA) office in Portuguese Town, Banjul, Gambia, or any other GRA Tax Administration and Regional office. This is where you will apply for a TIN number. It is better to apply in person.
Step 2: Let them know your purposes for visiting. You will be given the TIN application form in the office to fill. Fill appropriately.
Step 3: There are two options for registering the TIN number either as a business or as an individual. Make sure to fill the form for Individuals
Step 4: After filling the form, return it back to the officials along with your passport photograph and international passport.
Step 5: Make payment for TIN registration. Registration for TIN numbers in the Gambia is D25 which is about $0.49
Step 6: All information will be submitted for processing. Your TIN should be made available in 1 -2 business days.
You do not need to be a Gambian citizen in order to apply for a TIN Number. You can also apply from anywhere in the world by applying on their official GRA website.
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How to Open a Bank Account in the Gambia as a Foreigner.
Opening a bank account in a country you have repatriated to is a necessity if you will be staying for a long time.
You need money to meet basic needs such as paying for items purchased through local transfers, ordering online, saving your money in local currency, converting your foreign currency to local currency and for other things that might come up.
More so, opening an account locally will make it easier for you to withdraw money and use the POS and ATM card easily for transactions without stress.
In order for you to open an account in the Gambia there are several forms you would need to fill for proper documentation and also for security purposes.
There are several banks in the Gambia that caters to the financial needs of Gambian indigenes and those living in the Gambia at large. The top five banks in the Gambia with regards to their popularity and quality delivery are Guarantee Trust Bank (GTB), Eco bank, First International Bank, Standard Chattered Bank, and Trust Bank among others.
To open up a bank account with a bank in the Gambia, you will need to provide certain documents.
Each bank has their own requirements for those who want to open an account with them and also for the kind of account you want to open. However these are the most essential criteria to meet for most banks.
- Proof of address eg( Bills such as lightbulbs or water bills, that have your address on it)
- TIN number
- 1-2 passport photographs.
Some other documents that the banks may require from you being an expat are
- Data protection consent form,
- Signature specimen form,
- Account opening Form.
PRO TIP: To know what the bank you wish to open an account with will require from you in order to open the account. Visit the bank in person at any branch office in the Gambia. You will be giving an account officer that will guide you through the process of opening an account with them.