Understand the Jurisdictions of the Company Registration Process in the Ivory Coast
Although Ivory Coast seems like an unlikely place to do business, its recent economic reforms are beginning to attract foreigners to its shore. If you seek to help develop a nation and have your mark in the country, Ivory Coast can be the destination for your business.
There are several benefits to doing business in Ivory Coast, and they include possible tax exemptions for up to 8 years. Depending on the project size, tax exemption can extend to another 15 years. If you decide whether to register a company in Ivory Coast, read about how to do it below.
There are four company types available to incorporate in Ivory Coast. They are:
- Limited Liability Company (SARL) – most famous for start-up businesses and foreigners to set up.
- Public Limited Company (SA) – applicable to investors with more considerable business share capital that requires full payment before registering the company.
- Sole Proprietorship – A standard set up by small merchants in the country.
- Branch Office – Foreign companies, set up a branch office to promote their businesses in the country
- Representative Office – Foreign companies, opening an office with no intent to generate income in Ivory Coast
As you can see, SARL is the top choice for all kinds of businesses. Foreigners are also choosing this company type for its easy set-up.
Proposing a Name
Foreign business owners should engage with a local company incorporation services provider like 3E Accounting to help with proposing a company name. With a name in place, it will be easier to draft company statutes.
Drafting Company Statutes
If you intend to register a company in Ivory Coast and set up a SARL, the government allows a SARL incorporation with one shareholder and one director of any nationality. But if you have more than that, your company incorporation service provider will still assist you with drafting the company statutes by engaging with a public notary. The notary public can also certify the paid-in capital of the company.
Open A Bank Account
Before opening a bank account, you must hand all due diligence documents to your local company incorporation service provider. Together with detailed information on the business activities, they will open a bank account to deposit the initial capital. In return, they will receive a deposit slip.
The Court of Ivory Coast is responsible for reserving company names. Your local incorporation service provider should be able to secure the company name and get a reservation certificate.
Translating Documents to Official Language
Ivory Coast’s official language is French. Thus, all official documentation for a SARL set-up must be in French. At this stage, you and the shareholders must sign the documents before getting them notarised for registration.
Now, it is time to register a company in Ivory Coast at the Investment Promotion Centre in Ivory Coast (CEPICI) with the Commercial Register, Tax Authorities and Social Security Institute, all in one place. After which, the Journal Officiel de la République de Côte d’Ivoire will publish your company name.
Make a Company Seal
After your company completes registration, you can now make the company seal with the Sealmaker.
If you require assistance or consultation, please feel free to get in touch and we will promptly reply to you within 24 hours.