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