Africa is known for its vast potential of mineral resources. It is a great investment destination for foreign business organization from across the world.
Investors’ desire to do business on the continent depends largely on the ease of company registration with regard to meeting legal and regulatory demands. According to the World Bank’s Ease of Doing Business Index, a transparent and smooth registration process woos investors to any nation.
Below are 12 African countries where one can easily register a foreign company.
Image: rwandapedia.rw
Rwanda
It takes two days to register a company in the Eastern Africa nation at a minimum cost of $24. Companies can be registered from anywhere in the world. A certificate of registration is issued within six hours of making the application. There is no requirement for a physical office, resident director and secretary for any foreign company. In 2009, the nation created Rwanda Development Board that provides all government services and information to investors wishing to start business.
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Liberia
It is a West African nation. Foreign companies pay $20 for a name and the maximum registration fee for foreign companies is $900 (corporates), $800 for partnerships and $700 for sole proprietors. A certificate of registration is issued within two days of application. No fee is charged.
Seychelles. blog.gogo.vacations.com
Seychelles
It is an archipelago of islands in the Indian Ocean. It has one of the fastest International Business Registrars in the world. The government charges an annual fees of $100 for registration of offshore companies. A successful registration takes one to three days.
Market in Nouakchott, Mauritania. Photo: en.wikipedia.org
Mauritania
It takes an average of 14 days to register a companies and start operating in the nation. Companies must have a minimum capital of $3, 500 to start business. A company secretary and resident director are not requirements for any foreign company. Business permits are freely obtained from the Ministry of Labor.
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Sierra Leone
It is one of the leading countries in World Bank’s ease of doing business index. Sierra Leone Investment and Export Promotion Agency (SLIEPA) is the government agency responsible for assisting and informing existing and potential investors to the nation. It takes at least nine days on average to register a company and start operations. Investors are charged for a company name, business license and a company seal. Registration with the National Social Security and Insurance Trust (NASSIT), certificate of incorporation and Tax Identification Number (TIN) are all free.
Photo: Steinmetz Co., Gaborone.
Botswana
It is one of the most stable political democracies in Sub-Saharan Africa. Company registration involves two steps; reservation of a name and submission of incorporation details. The charges for reservation of a name are P20.00 which is duly assigned within five days. Registration fee is P360.00.
Beach, Dakar, Senegal. allposters.ie
Senegal
It is one of the model democracies in Africa. Political stability over the years has been key to attracting investors. Registration of a company to successful start of operations takes 10 days. A minimum capital of $2,000 is required. A physical office, resident director and company secretary are not mandatory. Senegal has one of the fastest processes of company registration in Sub-Saharan Africa.
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Mali
It takes four weeks from the day of formal application, to successfully register a company and start operating in Mali. The minimum capital to start operating is $1,700. A physical office is not mandatory.
Egyptian pound coins (Image: alialaa.deviantart.com)
Egypt
It is one of the most populous nation in Africa, with 83.9 million people. It takes four weeks to incorporate a foreign company. A minimum capital of $1,000 is required. A certificate of incorporation is obtained at the General Authority for Free Zones and Investment (GAFI). There is no fee charged.
Avenue Kwame Nkruma, Ouagadougou, Burkina Faso. Photo: Tom Cockrem/Getty Images
Burkina Faso
It is found in West Africa. A foreign company must get approval from the Ministry of Commerce. It takes 15 days to apply for registration and successfully get a business permit to establish an investment. A government agency, Centre des Formalites de Entreprise (CEFORE) is responsible for the registration of companies. A fee of XOF 47,500 is charged.
Mozambique in the midst of a payment crisis – Thinkstock
Mozambique
It is one of the fastest growing economies in Sub-Saharan Africa. Foreign companies do not need to have a company secretary and a director residing in the nation. It takes five weeks to register and successfully start business operations, at an average cost of $18, 700.
Libreville, Gabon. icibrazza.com
Gabon
It is a West African nation. It takes an average of two months to register and start business in the nation. On average, businesses are set up at $17,415. Companies are charged 30 percent corporate tax.
