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The formalities for starting a business

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Starting a sole proprietorship

A sole entrepreneur who goes to the Business Creation Support Bureau (BCE) with its constitutional documents gets an appointment 24 hours later to withdraw:

- Notice of registration in the trade register
- Notice of registration in the NINEA
- A declaration of establishment

The documents that the entrepreneur needs to provide are:

If s/he is a Senegalese citizen :

  1. A criminal record check of no more than 3 months, or a declaration of compliance provided by BCE for applicants to fill and sign
  2. A certificate of residency from the police or municipal officer in its area of residence, issued upon proof of address given by the quarter head
  3. A marriage certificate (if appropriate)
  4. Two (02) fiscal stamps of 2000 CFA Francs (for registration in the trade register and for NINEA)

If s/he is a foreigner:

  1. Two (02) copies of the passport
  2. A criminal record check of no more than three months from the country of origin
  3. A certificate of residency (delivered by the police or municipal officer)
  4. A marriage certificate (if appropriate)
  5. Two (02) fiscal stamps of 2000 CFA Francs (for registration in the Trade Register and for NINEA)

Preliminary expenses

  1. 10 000 CFA Francs for court fees on sole proprietorships with no trade name;
  2. 20 000 CFA Francs for sole proprietorships with a trade name including:
  3. 10 000 CFA Francs for registering the trade name in the African Intellectual Property Organisation (OAPI);
  4. 10 000 CFA Francs for court fees.
Starting an Economic Interest Group

The President must be present physically to submit or withdraw the application.

The four (04) formalities required to start an EIG are:

  • Registration of the statutes
  • Registration in the Register of Companies and Liens
  • Registration for NINEA
  • A declaration of establishment

The documents to provide are:

  1. Three (03) copies of the EIG Statutes, Rules and Regulations, and minutes of the founding assembly, all printed in front and back pages
  2. One (01) copy of the members’ identity cards
  3. Two (02) copies of the passport (for foreigners)
  4. The President’s criminal record check of no more than three (3) months or a statement of compliance, filled duly and signed by the President
  5. If the President is a foreigner, s/he must provide a criminal record check from his/her country of origin, issued no more than three (3) months prior to the application submission date
  6. Nine (09) fiscal stamps of 2 000 CFA Francs to affix to each page of the Statutes, Rules and regulations, and the Minutes before registration
  7. Two (02) fiscal stamps of 2 000 CFA Francs for registration in RCCM and for the NINEA

Preliminary expenses

  • 29 000 CFA Francs for registration fees
  • 30 000 CFA Francs for initial expenses, including
    • 20 000 CFA Francs for the costs of trade name protection at OAPI
    • 10 000 CFA Francs for court fees.
Starting a limited liability company

To form a Limited Liability Company, there are two steps to take:

The entrepreneur goes to the Notary’s

  • To establish the statutes
    • These have to be signed by all the founding members or their proxies upon proof that they have power of attorney to do so.
  • To sign the minutes of the incorporation meeting
  • To issue a declaration of conformity
  • To deposit the Capital
    • The capital should be deposited at the notary’s or in a bank account, entitled “Company Incorporation Account”. The capital is released immediately after the company gets registered in the Register of Companies and Liens (RCCM).
    • Only capital contributions that are worth over 5 000 000 CFA Francs necessarily have to be evaluated by a capital contributions auditor

Notary’s fees: approximately 400 000 CFA Francs for capital worth 1 000 000 CFA Francs

The entrepreneur goes to the APIX Business Creation Support Bureau (BCE)

  • To register the articles of incorporation
  • To register the business at the Register of Companies and Liens
  • To obtain registration for NINEA
  • To publish the creation of the business in the Journal of legal notices

The documents to provide are:

  1. A criminal record check of no more than 3 months, or a statement of compliance, issued at the Notary’s for the Manager to fill and sign, or the Manager’s criminal record check of no more than three months from the country of origin (for foreigners)
  2. Photocopies of members’ identity cards
  3. Registration fees: 25 000 CFA Francs
Starting a public limited company

To start a public limited company, there are two stages:

The entrepreneur goes to the Notary’s

  • To establish the statutes
    • They must be signed by all the founding members or their proxies upon proof of power of attorney to do so.
  • To sign the minutes of the incorporation meeting
  • To issue a declaration of conformity
  • To deposit the Capital
    • The capital has to be deposited at the notary’s or in a bank account, entitled « Company Incorporation Account ».
    • The account is available immediately after the company gets registered at the Register of Companies and Liens (RCCM).

Notary’s fees: approximately 700 000 CFA Francs for capital worth 10 000 000 CFA Francs

The entrepreneur goes to the APIX Business Creation Support Bureau (BCE)

  • To register the acts of incorporation
  • To register the company in the Register of Companies and Liens
  • To register for NINEA
  • To publish the creation of the company in the Journal of legal notices

The documents to provide are:

  1. A criminal record check of no more than 3 months, or a statement of compliance, available at the notary’s, which is filled duly and signed by the Manager, or the Manager’s criminal record check of no more than three (3) months from their country of origin (for foreigners)
  2. The photocopy of members’ identity cards
  3. Registration fees: 1% of the Capital, if it exceeds 10 000 000 CFA Francs. Where the capital contribution is in real estate, provision should be made for a surtax equivalent to 3% of the value of the contribution for registration fees
ALSO SEE
DOWNLOADS

- The Business Investor’s Guide
- The List of Notaries in Senegal
- The list of Financial Institutions in Senegal
USEFUL SITES

- The chamber of notaries in Senegal
- Portal for administrative formalities

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