Published
Sep 4, 2023
Updates:
Dec 3, 2024
Senegal
Price:
Delivery:
Legal forms:
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2 weeks
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Document checklist:
1.Passport
2.Proof of Residence
Requirements:
Local legal address (Handled by B2B Hub)
Senegal
$
1300
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Registrar
Abbreviation
Phone
Agence de Développement et d'Encadrement des Petites et Moyennes Entreprises
ADEPME
33 869 70 70
Location
Capital
Official languages
Population
Currency
ISO 4217
Dakar
Senegal
French, Wolof
17,763,163
XOF
West African CFA Franc
Delivery
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Certificate of incorporation
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Articles of association
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Meeting minutes
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Company stamp
Certificate of incorporation
Company stamp (By stempil.com)
Registration documents and guidance
FAQ for company formation in Senegal
Q: What is the legal structure of a company in Senegal?
A: The legal structure of a company in Senegal can be one of the following: Société Anonyme (SA), Société à Responsabilité Limitée (SARL), Société en Nom Collectif (SNC), Société en Commandite Simple (SCS), Société en Commandite par Actions (SCA), and Société Coopérative.
Q: What is the minimum number of shareholders required to form a company in Senegal?
A: The minimum number of shareholders required to form a company in Senegal is two for an SA and one for an SARL.
Q: What is the minimum amount of share capital required to form a company in Senegal?
A: The minimum amount of share capital required to form a company in Senegal is CFA 1 million for an SA and CFA 100,000 for an SARL.
Q: Can a foreigner own a company in Senegal?
A: Yes, a foreigner can own a company in Senegal. However, certain sectors are restricted to Senegalese citizens or require a local partner.
Q: What are the steps to register a company in Senegal?
A: The steps to register a company in Senegal are:
1. Verify the uniqueness of the company name with the Ministry of Commerce and Industry.
2. Draft the articles of incorporation and have them notarized by a public notary.
3. Deposit the share capital in a bank account and obtain a deposit certificate.
4. Register the company at the one-stop shop of the Commercial Court and obtain the registration certificate.
5. Register with the tax authorities and obtain a tax identification number.
6. Obtain the business license from the municipality.
Q: How long does it take to register a company in Senegal?
A: It takes approximately 15 business days to register a company in Senegal, assuming all the required documents are in order.
Q: What are the ongoing compliance requirements for a company in Senegal?
A: The ongoing compliance requirements for a company in Senegal include:
1. Filing of annual tax returns and financial statements.
2. Renewal of the business license.
3. Maintaining proper accounting records.
4. Holding annual general meetings.
5. Updating the Commercial Court of any changes to the company's information.
"Senegal has seen a steady growth in its economy over the past few years. According to the World Bank, the country's GDP grew by 6.7% in 2019, and is projected to grow by 6.2% in 2020. This growth is largely driven by the services sector, which accounts for nearly 60% of the country's GDP. The agricultural sector is also a major contributor to the economy, accounting for around 25% of GDP. In addition, the manufacturing sector has seen a steady increase in its contribution to the economy, accounting for around 15% of GDP.
The country has also seen an increase in foreign direct investment (FDI) over the past few years. According to the United Nations Conference on Trade and Development (UNCTAD), FDI inflows to Senegal increased from $1.2 billion in 2018 to $1.5 billion in 2019. This increase is largely due to the country's efforts to improve its business environment and attract more foreign investment.
Overall, Senegal's economy is showing signs of steady growth and is well-positioned to continue its positive trajectory in the coming years."
Senegal is a country located in West Africa. Here is a brief overview of the taxation system in Senegal:
Corporate Taxation in Senegal:
- Corporate tax rate is 30%
- Capital gains tax rate is also 30%
- Dividend income is subject to a withholding tax of 10%
Personal Taxation in Senegal:
- Personal income tax rates range from 0% to 35%, depending on income level
- Capital gains tax rate is 30%
Tax Payment and Calendar:
- The tax year in Senegal runs from January 1 to December 31.
- Tax returns must be filed by March 31 of the year following the tax year.
- Corporate income tax payments are due quarterly, on the last day of the month following the end of the quarter.
- Individual income tax payments are made on a monthly basis, with the final payment due in May of the year following the tax year.
Taxpayers in Senegal are required to keep detailed records of their income and expenses, and may be subject to audits by the tax authorities. Failure to comply with tax laws can result in penalties and fines.
Senegal has also signed several tax treaties with other countries, including France and Canada, which can impact the taxation of individuals and corporations with ties to those countries. It is always recommended to consult with a tax professional for personalized advice on tax matters in Senegal.
Application without registration
The first director
The second director
The third director
The first shareholder
The second shareholder
The third shareholder
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