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The country is under sanctions by the United Nation’s Security Council and/or the UK Government. Currently B2B Hub is not providing legal and financial services for the present country.

Burundi

Legal form:

Inc., LLC., Ltd., Co.

Delivery:

6 weeks

Price: $

1500

Payment methods:

payment methods.webp

Requirements:

Document checklist:

Local legal address (Handled by B2B Hub) 

1.Passport
2.Proof of Residence 

Registrar

Organization name

Abbreviation

Country

Burundi

Email

Phone

Listing
Open website
UK comapny formation (1).webp

About

Burundi

Capital
Official languages
Population 
Currency

ISO 4217

Gitega

Kirundi and French

11,890,784 (as of July 2020)

Burundi Franc

BIF

FAQ

Frequently Asked Questions for Company Formation in Burundi:


Q: What is the legal entity type for a company in Burundi?

A: The most common legal entity types for a company in Burundi are a limited liability company (Société à Responsabilité Limitée or S.A.R.L.) and a public limited company (Société Anonyme or S.A.).


Q: What are the minimum requirements to form a company in Burundi?

A: To form a company in Burundi, you will need at least two shareholders and one director. The shareholders and director can be of any nationality, but at least one director must be a resident of Burundi. You will also need to register your company with the Burundian Business Registry (Registre du Commerce et du Crédit Mobilier or RCCM) and obtain a tax identification number (Numéro d’Identification Fiscale or NIF) from the Burundian Revenue Authority (Office Burundais des Recettes or OBR).


Q: What are the steps involved in company formation in Burundi?

A: The following are the general steps involved in company formation in Burundi:


1. Reserve a company name with the RCCM.

2. Draft and sign the articles of association.

3. Register the company and obtain a business license with the RCCM.

4. Obtain a tax identification number from the OBR.

5. Register for social security and obtain an employer registration number from the National Institute of Social Security (Institut National de Sécurité Sociale or INSS).

6. Register for value-added tax (VAT) with the OBR (if applicable).


Q: How long does it take to form a company in Burundi?

A: The process of forming a company in Burundi can take between two to six weeks, depending on the complexity of the company structure and the completeness of the documentation submitted.


Q: What are the costs involved in company formation in Burundi?

A: The costs involved in company formation in Burundi can vary depending on the legal entity type, the amount of share capital, and the professional fees charged by legal and accounting professionals. Some of the typical costs include registration fees, notary fees, legal fees, and taxes.


Q: What are the tax obligations for a company in Burundi?

A: Companies in Burundi are subject to corporate income tax at a standard rate of 30%. Other taxes that may be applicable include value-added tax (VAT), customs duties, and payroll taxes.


Q: Can foreigners own a company in Burundi?

A: Yes, foreigners can own a company in Burundi. However, at least one director must be a resident of Burundi.


Q: Do I need a local partner to form a company in Burundi?

A: No, you do not need a local partner to form a company in Burundi. However, at least one director must be a resident of Burundi.


Q: Are there any restrictions on foreign ownership of a company in Burundi?

A: There are no restrictions on foreign ownership of a company in Burundi. However, some sectors such as telecommunications and banking have specific regulations that may require a certain level of local ownership or partnership.

Economy

"Burundi is a small, landlocked country in East Africa with a population of 11.7 million people. The economy of Burundi is largely based on subsistence agriculture, which accounts for over half of the country’s GDP. The country also relies heavily on foreign aid, with the World Bank providing over $1 billion in assistance since 2000.

Burundi’s economy has been struggling in recent years, with GDP growth averaging just 1.2% between 2015 and 2019. This is largely due to political instability, weak infrastructure, and a lack of access to credit. Inflation has also been a major issue, with the rate reaching a high of 16.2% in 2019.

The unemployment rate in Burundi is estimated to be around 8.2%, with youth unemployment at a staggering 25%. Poverty is also a major issue, with over 70% of the population living below the poverty line.

Despite these challenges, Burundi has made some progress in recent years. The country has seen an increase in foreign investment, with the World Bank approving $200 million in loans in 2019. The government has also implemented a number of reforms to improve the business environment, including the introduction of a new investment code.

Overall, Burundi’s economy is facing a number of challenges, but there are signs of progress. With continued investment and reform, the country could see an improvement in its economic situation in the coming years."

Taxation

Burundi is a small country located in East Africa with a relatively simple tax system. The tax system in Burundi is regulated by the General Tax Code and administered by the General Directorate of Taxes.


Personal income tax is levied on all residents of Burundi, including foreign nationals who reside in the country for more than 183 days per year. The tax rates are progressive, ranging from 0% to 35%, depending on the income level. The first BIF 200,000 of annual income is exempt from taxation, and there are various deductions and credits available to reduce the tax liability.


Corporate income tax is levied on all companies and businesses operating in Burundi. The standard corporate tax rate is 35% on the net taxable income. However, there are various tax incentives available for certain industries and activities, such as the promotion of research and development and investment in certain regions of the country.


In addition to federal taxes, there are also other taxes levied on businesses operating in Burundi, such as the value-added tax (VAT), which is currently 18%, and various excise taxes on certain products.


The tax year in Burundi runs from January 1st to December 31st. The deadline for filing personal income tax returns and paying any outstanding tax is usually March 31st of the following year, while the deadline for filing corporate tax returns and paying any outstanding tax is generally June 30th of the following year.


Payments can be made online or in person at designated banks. Penalties for late payment or non-payment of taxes can range from fines to imprisonment, depending on the severity of the offense. Additionally, interest may be charged on any outstanding tax liability.


Overall, taxation in Burundi is relatively simple, with a moderate tax burden compared to other countries in the region. It is important for taxpayers to consult with local tax advisors or government authorities to ensure compliance with the relevant tax regulations.

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