Company Registration in Senegal

Name of service Bronze Silver Gold
Company name verification and reservation in Senegal Registry of Companies Verifying the availability and reserving of your preferred company name in Senegal Registry of Companies
Company registration in form of LLC, including government fees Preparation and submission of all required documents and fees to the relevant government authorities for company registration, ensuring a streamlined process for our clients
Memorandum of Association Preparation of the memorandum of association, which defines the procedure for the creation of the company; the authorized capital of the company; the size and nominal value of the shares of the founders, as well as the order of payment
Certificate of Incorporation Provision of international standard certificate of incorporation for your company
Company tax registration, TIN Gathering, processing and filing the necessary paperwork for registration with Senegal Tax authorithy
Company seal Production of the company seal
Assistance in opening a corporate account in local bank Collecting, processing and filing the necessary documents for opening a corporate account with a local bank
Assistance in opening a personal bank account Collection, processing and filing of the documents required to open a personal account, including consultation of appropriate jurisdiction
Residence permit for the Director in case he/she is a foreigner Assistance in getting a residence permit (required to establish a company)
Free Consultation We offer a free consultation where you can discuss your needs and questions regarding company registration and management. Our experts will be happy to help you understand the process and provide guidance based on your situation. We are happy to answer your questions and help you make an informed decision about the services you need
Total cost
1700 USD 2700 USD 4900 USD
Provision of a legal address for 1 (one) year
1000 USD 1000 USD 1000 USD
Remote company registration with transfer of authority
300 USD 300 USD 300 USD
Accounting services
250 USD 250 USD 250 USD

Deal of the month

If you will register a company until 29th of February,
opening a bank account is for FREE

6 easy steps to get started
  • 1

    Select your
    preferred jurisdiction

  • 2

    Choose a bank
    that meets your
    company's needs

  • 3

    Pay for our services
    using a convenient
    payment method

  • 4

    Receive all necessary
    corporate documents

  • 5

    Receive details
    for your newly opened
    bank account

  • 6

    We'll deliver the original
    documents directly
    to you

Senegal is one of the African states that are good choices to start a business. This country is rich in natural resources. It emphasizes the production, service, construction, agricultural, and chemical sectors. Business incorporation in Dakar or any other city in Senegal can instantly make available these must-have benefits of the jurisdiction.

Company Formation in Senegal: Main PROs

Starting a company in Senegal may be considered a good business idea in view of these core advantages usually attributed to this jurisdiction:

  • stable democratic political system;
  • openness to foreign capital;
  • skilled manpower involving which will be associated with moderate costs;
  • low and flexible taxation;
  • high level of confidentiality without the option of automatic exchange of tax information;
  • absence of currency control limitations;
  • availability of free zones where, among others, a 0% corporate tax rate is applied.

Legal and Organizational Forms

If you wish to set up a company in Senegal or establish your official presence in any alternative way, choose among these available options:

  • Limited liability company – this is a TOP choice for most foreign businessmen in view of the limited liability of each promoter. Any shareholder will never bear any kind of liability in excess of the funds contributed to the company. It is expected that the starting share capital of this company will be at least XOF 10 million. A higher amount of share capital may be expected for enterprises from specific industries. This company may be incorporated even by one shareholder of any nationality.
  • Branch – a choice feasible for those businessmen who wish to arrange the interaction with local customers and contractors in a more effective way. Establishing a branch will not require substantial amounts to be invested but it is not associated with getting a separate legal personality at the same time. Full liability over the results of its operation will always bear its mother company.
It is also possible to use other forms, like a public company, representative office, or partnership. Contact Prifinance attorneys to get more details to the point.

How to Open a Company in Senegal

The general steps needed to form a company in Senegal are next:

  1. Shortlisting the scope of activities that a future entity is going to conduct.
  2. Selecting and verifying a trading name for a future enterprise.
  3. Depositing the amount of the company's share capital.
  4. Collecting and formalizing appropriately all the details about the company's promoters, final beneficiaries, and a mother company (if present).
  5. Composing and executing statutory documents and submission forms.
  6. Contributing incorporation fee and submitting the set of registration documents for consideration. Getting the company’s identification number. Entering the information about the new entity in the Commercial Registry.
  7. Registration for tax and social security purposes.
  8. Opening corporate bank accounts.
  9. Applying for and obtaining a specific license/permit that may be needed for a chosen regulated activity.

Legal and Regulatory Aspects

Incorporating a business in Senegal is usually a straightforward process where clear legal requirements are applied. The local government makes steps to ease the incorporation process, including through one-stop-shop and remote registration. There are no restrictions for non-resident investors. They may either create a company independently or involve a local partner in doing business. The option of establishing a public-private partnership is available as well. Foreign investors may enjoy all necessary informational and other support from the local Investment Promotion Agency.

Taxation in Senegal

If you consider the option to open or buy a company in Senegal, it should be evaluated along with the next taxation points:

  • Profit tax (for business forms) – 30%
  • Income tax (for individuals) – a progressive scale is applied with the highest threshold of 43%
  • Value-added tax – 18%
  • Withholding tax (for non-residents) – (1) dividends – 10% (2) interests – 8% or 16% (3) royalties – 20%
  • Capital gains tax – (1) for business forms – see profit tax (2) for individuals – see income tax.

How Prifinance Attorneys Can Assist You

If you have clarified your business goal of buying or opening a company in Senegal, Prifinance attorneys are prepared to foster its practical realization. Experts possess versatile experience gained through more than 11 000 registration projects implemented worldwide, including in Senegal. Forward the details of your case and obtain fully personalized and professional legal assistance.

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