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Company Registration in Africa: Côte d'Ivoire

Company Registration in Africa: Côte d'Ivoire

25. 10. 2023

Côte d'Ivoire, officially known as the Republic of Côte d'Ivoire, is one of the most attractive countries for business in West Africa. Its economy is considered one of the largest in the region and is heavily dependent on agriculture, oil production, cocoa manufacturing, as well as services and construction.

The country has liberal legislation concerning entrepreneurial activities, with stable economic growth, openness to foreign investments, and a strategic location, making it appealing to entrepreneurs and investors.

Company Registration in Côte d'Ivoire:

1. Choosing the Legal Form - Determine the type of your company (e.g., SARL - Limited Liability Company).

2. Document Preparation - Prepare the company's articles of association and other necessary documents, including contracts and identification for the founders. After document submission, the company receives a registration certificate, a tax identifier, and a statistical number.

3. Registration and Taxation - The minimum registered capital for registering a limited liability company is 1 million CFA francs (approximately 1,700 USD). For registering a joint-stock company, a minimum capital of 10 million CFA francs is required.

Key Taxes for Companies in Côte d'Ivoire:

  • Corporate Income Tax - rate of 25%
  • Value Added Tax (VAT) - rate of 18%
  • Payroll Tax - rate of 2-6%, depending on the income size

Côte d'Ivoire has various agreements to avoid double taxation to attract foreign investments. Foreign companies and investors can fully own businesses in the country, although there may be restrictions on foreign capital share in some strategically important sectors.

4. Opening a Bank Account - It is necessary to open a bank account in Côte d'Ivoire and register the company with tax authorities to obtain a tax certificate.

The company registration process in Côte d'Ivoire is relatively straightforward and takes about three weeks.

In summary, Côte d'Ivoire offers favorable conditions for foreign investors to conduct business. Despite some bureaucratic processes, the company registration process is relatively simple, and the tax legislation is accommodating to foreign capital. The country provides political stability, developed infrastructure, and access to regional markets in West Africa. To expedite the registration process, we recommend consulting IT-OFFSHORE specialists, who have experience working in this jurisdiction.

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