The Ultimate Guide to Company Registration in Ivory Coast
After all these years, Ivory Coast has had quite a reputation as an offbeat business destination. But it can be an excellent leverage if you’ve found the jewel advantage for founding a business there. Their economic reforms are clearing the way for people to do business, live and play. When you’ve found your terrific business idea, it’s time for company registration in Ivory Coast.
Among the benefits of doing business in Ivory Coast include tax credits. Your business could get tax credits between 5 to 15 years if you set up a limited liability company in one of its free trade zones. So, let’s get the ultimate guide to help you register a company in the country.
Types of Companies Available
Once you’ve set interest in what Ivory Coast can offer you and your business, here are the company types available for nationwide registration.
|Limited Liability Company (SARL)|| ||Start-up businesses for both local and foreign business owners.|
|Public Limited Company (SA)|| ||Businesses with possibly large projects and more shareholders.|
|Branch office|| ||For foreign companies to promote their business .|
|Representative office|| ||For foreign companies with no intent to generate income|
Company Registration in Ivory Coast
There are about four procedures to register a company here, three of which are present before the registration. The main procedures are as follows:
Company Name Proposal
Two of the company types above require a company name proposal. The other two would generally use their parent company name to register a company in Ivory Coast. Contact business solution providers like us to have a proper company name proposal. We will use the company name to reserve a company name at the Court of Ivory Coast. After which, the court will reserve it for 30 days.
Company Statutes Draft
To know what company statutes look like, here’s what they should include:
- The company name
- Company purpose and business activities
- Company duration
- Registered office
- Share capital
- Directors and shareholders
- Management structure
- Appointed auditor
- Company wind-up procedures
- Resolution dispute procedures
It is in the best interest of the business owners to have a local corporate attorney draft the company statutes according to the Ivory Coast laws. The Ivory Coast government allows corporate shareholders for the abovementioned company types.
According to local laws, all company registration documents must be in French. It then must be signed by you and the shareholder(s) before it is notarized.
Opening A Business Bank Account
To deposit the share capital, you must open a business bank account. Submit all due diligence documentation to your local company incorporation service provider. Due diligence documentation includes shareholder(s) identity cards or passports, each partner resident card (if any) and proof of address for each shareholder(s). After depositing the share capital, there will be proof of deposit.
Now, we’ve reached the stage of registering a company in Ivory Coast at the Investment Promotion Centre in Ivory Coast (CEPICI), which houses the Commercial Register, Tax Authorities, and the Social Security Institute. Your company name will be published in the Journal Officiel de la République de Côte d’Ivoire (JORPI).
Mandatory Company Seal
The fourth procedure in company registration in Ivory Coast is obtaining a company seal. The earlier you get a company seal, the better, as it is used to authenticate any documents issued by your company.
Ready With Assistance
The process of company registration in Ivory Coast is a structured one that ensures legal compliance and lays the groundwork for your business operations. You can be confident that your Ivorian company will be registered smoothly with 3E Accounting.