This week, we will be considering company registration in Guinea, Cote D’Ivoire (Ivory Coast) and Burkina Faso. For information on registering trade marks in these countries, refer to Part 17 of this series where we discussed the OAPI system.
All three of these countries are members of OHADA (also discussed previously) and follow the Uniform Act of this organisation for the purposes of company registration.
GUINEA
Guinea recognises a number of different forms of business enterprise, including sole proprietorships, limited liability companies (public and private), joint ventures and so-called Economic Interest Groups (GIE).
Companies are registered at API, the one-stop for company registrations. This entity’s website can be found at www.apiguinee.gov.gn, but is only available in French.
The incorporation process was significantly simplified with the institution of the API and is as follows:-
- Deposit the company capital.
- Confirm availability of the proposed company name.
- A notary prepares the company documents.
- Register at the API. This process encompasses registration of the company, registration for taxes and registration for social security.
The employment promotion agency must be notified of the incorporation of new companies.
CôTE D’IVOIRE (IVORY COAST)
In the Ivory Coast it is also possible to conduct business in a number of different forms, including sole proprietorships, partnerships, public and private companies and corporations.
Companies are registered at CEPICI, the one-stop shop for investment in the Ivory Coast. This body’s website can be found at www.cepici.gouv.ci, but is also only available in French.
The company registration procedure is as follows:-
- Have the company documents drafted by a notary.
- Deposit the company capital.
- Register at the one-stop shop. This includes registration with the Commercial Registrar, tax authority and social security institute.
CEPICI publishes the incorporation of the company in three newspapers and the company must obtain copies of the publications. The company must also obtain a company seal after incorporation.
BURKINA FASO
As part of a drive to increase foreign direct investment in Burkina Faso, the government has significantly improved the ease of forming a company and doing business. This included the formation of CEFORE, a one-stop shop for company registration. More information on CEFORE can be found at www.me.bf, but this site is also only available in French.
The incorporation process is as follows:-
- Deposit the company capital.
- Notarise various documents required for the company formation process.
- Register at CEFORE. This includes company registration, obtaining a tax number, registration with the labour department and registration for social security.
Although all of these countries appear to be striving for more foreign direct investment by simplifying bureaucratic procedures, the language barrier and the still very recent civil unrest in most of these countries can still cause difficulties for foreigners wishing to enter these markets. Consultation with local experts will therefore benefit any business wishing to expand into these countries.
Written by Adré Greeff, Verified by Johan du Preez
Adams & Adams