Company Registration in Haiti

Haiti is one of the Caribbean jurisdictions that have a huge potential to offer to foreign investors. Apart from splendid landscapes, the state opens favorable conditions for doing business and provides lots of incentives. The most developed sectors of the local economy are tourism, agribusiness, and IT. In general, company incorporation in Port-au-Prince can easily bring these benefits to your international business.

Why Register a Company in Haiti?

If the option of buying or setting up a company in Haiti is on your table, these advantages can help to make a final choice in favor of this state:

• strategic geographical location with access to huge markets;
• investment-friendly environment with good options for investments protection;
• qualified manpower and moderate associated employment costs;
• excellent infrastructure;
• availability of free trade zones with a 0% corporate tax rate;
• existence of industrial parks;
• plenty of incentives (namely, fiscal holidays for 15 years in certain sectors, customs incentives, etc.).

Legal and Organizational Forms

You can create/buy a ready-made company in Haiti or establish your formal presence in an alternative way by utilizing these options, for example:

• Limited liability company – a form of company that envisages narrowed liability of its shareholders in relation to the results of its operation, including potential losses. By law, promoters will not cover such hypothetical losses in excess of the amounts that were previously invested. At least 3 shareholders are needed for this entity, non-residents are possible. USD 500+ should be invested as the starting capital for an LLC.
• Branch – a form of doing business suitable for a non-resident company that is new in the local market and wants to investigate it better before investing substantial amounts of funds. Passing a simplified registration procedure with the local Ministry of Commerce and Industry is required. Still, this registration will not be associated with granting the status of a legal entity afterward.

Steps to Open a Company in Haiti

The process of company incorporation in Haiti comprises these approximate stages:

1. Completing the set of preparatory actions (choosing types of activities for operation, selecting an official trading name, collecting background details about promoters and final beneficiaries, arranging office premises, etc.).
2. Drafting and executing correctly all corporate documents, including the resolutions of founders.
3. Payment of registration fees and submitting the set of registration documents for consideration to the local Ministry of Commerce and Industry. Entering the information about a new corporate entity in the Commercial Register. Publication of information about a new company in the official bulletin.
4. Registration of a new firm for the purposes of paying taxes and social security contributions.
5. Opening corporate bank accounts.
6. Obtaining extra licenses and permits that may be necessary for regulated activities.

Legal and Regulatory Aspects

Foreigners are allowed to create a business and buy a company in Haiti without any restrictions. Moreover, the local government encourages foreign investments through the Center for the Facilitation of Investments. This authorized body is in charge of the full support of the activities of foreign investors in Haiti, including business registration. Incorporation of a new company requires the fulfillment of specific legal formalities and may take 6 weeks approximately.

Taxation in Haiti

Any preliminary considerations about starting a company in Haiti should be assessed along with the next general* tax considerations:

• Corporate tax – 30%
• Personal tax – a progressive scale is applied with a maximal rate of 30%
• Sales tax (instead of VAT) – 10%
• Withholding tax – (1) dividends – 15% (2) interests – 15% (3) royalties – 15%
• Capital gains tax – 15%

The operations in free trade zones are exempted from income tax – it will be 0% for the next 15 years after the registration.

How Prifinance Attorneys Can Assist You

If you have any unresolved questions about how to register a business in Haiti, Prifinance attorneys can support you with finding the right answers. Lawyers possess versatile expertise in registration gained through more than 11,000 registration cases worldwide. Share the details and obtain fully personalized and professional assistance.