The industrial free trade zone of Dakar has been implemented in order to encourage foreign investors to set up and develop exports. Particular regimes are applicable to small and medium-sized companies, companies developing technological innovation as well as those that enhance domestic resources. The Investment Promotion Agency of Senegal provides assistance and support to foreign investors.
Legal forms of companies
Form
Number of partners/shareholders
Minimum and/or maximum capital
Liability
Registration fee
Release of financial documents
Private Limited Company
Minimum 2 partners. Maximum 50 partners.
FCFA 500,000
Liability is limited to the amount contributed.
About FCFA 215,000 on the basis of a company with a FCFA 500,000 capital.
Public limited company
Minimum 7 shareholders.
FCFA 2,000,000
Liability is limited to the amount contributed.
About FCFA 400,000 on the basis of a company with a FCFA 2,000,000 capital.
Registration and licensing procedures
Private Limited Companies and Public Limited Companies are the two most current corporate forms in Senegal. However, other corporate forms such as general partnership, joint-venture company, do exist but remain rare. The declaration formalities with tax administrations, social and work office are complicated, expensive and take time. That is why, in order to simplify the registration procedure, a unique office has been created. This unique office is linked to the Treasury and receives the companies' declarations requesting approval to the Code of Investment. This organization is in charge of the companies' registration with the different ministries.
Foreign exchange control
There are no limitations on currency exchange control. Free repatriation of profits and capital is carried out.
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