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Understand the Jurisdictions Setup Requirement Before Proceed Your Senegal Company Incorporation Services

What better way to approach the African markets than to incorporate a company in Senegal? With a strategic location in the northwest of the continent, Senegal has one of the biggest ports in West Africa. Even its airport is poised to be one of the significant international airports in Africa. The country’s location is among the many advantages of commencing a partnership with a Senegal company incorporation services provider.

Besides its strategic location, Senegal’s membership within the West Africa Economic and Monetary Union (WAEMU) and Economic Community of West Africa (ECOWAS) opens up opportunities with almost 400 million potential customers of these two markets.

Although with a large community market such as the WAEMU and ECOWAS, Senegal benefits from Organization for the Harmonization of Corporate Law in Africa (Organisation pour l’Harmonisation du Droit des Affaires en Afrique (“OHADA”), which harmonizes legal frameworks in areas of business law and dispute settlements. Africa is known to have many countries, and its variety of business laws, this legal harmonizing structure helps to facilitate the stability of investments.

 

The Governing Bodies

Senegal may have smitten you with its beauty and business opportunity. But before starting to incorporate a company, let’s get to know the governing bodies for company setup. Depending on the legal business entity you choose, you could be dealing with a Senegal Notary. A Senegal Notary is necessary to incorporate a public limited company or a simplified joint stock company.

Senegal company incorporation services will advise you on each company structure so you will be well informed before you make a decision. But as a new entrepreneur like you, you could be well off with a limited liability company (SARL). A SARL is an excellent choice because of its low-cost incorporation compared to the other two. Its structure is similar to any LLC in other countries or your native residence.

The other relevant bodies for a Senegal company incorporation are the Chamber of Commerce, company registration authorities, and the Senegal Tax and Customs Administration, which will issue a tax ID for your company.

 

Company Incorporation Time

It may take about 4 weeks to incorporate your company in Senegal, that is, if you work with a Senegal company incorporation services provider. However, it would be best if you got to know the process well so that you know the dos and don’ts of business in Senegal.

Nevertheless, Senegal’s company incorporation is getting easier as we move. If you are a foreign investor looking to incorporate a company in Senegal, you would need access to all the company documentation required. This includes the basics like the founders or directors’ valid identification, proof of address, sample signatures, and getting identification in person. Personal identification can be made via a video call if most directors cannot be present in Senegal.

A single individual can incorporate a SARL in Senegal and is not necessarily a Senegal resident. Moreover, there needs to be a specific share capital for this legal entity to get included. As with the usual documentation, due diligence is essential to ensure a smooth Senegal company incorporation.

If you require assistance or consultation, please feel free to get in touch with us and we will promptly reply to you within 24 hours.