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Côte d’Ivoire

Legal form:

CI

Delivery:

2 weeks

Price: $

2500

Payment methods:

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Requirements:

Document checklist:

Local legal address (Handled by B2B Hub) 

1.Passport
2.Proof of Residence 

Registrar

Organization name

Abbreviation

Country

Côte d’Ivoire

Email

Phone

Listing
Open website
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About

Côte d’Ivoire

Capital
Official languages
Population 
Currency

ISO 4217

Yamoussoukro

French

24,324,746 (as of July 2020)

Republic of Cote d'Ivoire Franc

XOF

FAQ

FAQ for Company Formation in Côte d’Ivoire:


1. What are the requirements to form a company in Côte d’Ivoire?

To form a company in Côte d’Ivoire, you need to have at least two shareholders, a minimum share capital of XOF 1,000,000, and a registered office in the country. You also need to have a company name that is not already taken.


2. What types of companies can I form in Côte d’Ivoire?

You can form several types of companies in Côte d’Ivoire, including sole proprietorships, partnerships, and limited liability companies.


3. How do I register my company in Côte d’Ivoire?

To register your company in Côte d’Ivoire, you need to submit the required documents to the Chamber of Commerce and Industry, which will issue you with a business registration certificate. The documents include the company’s articles of association, the company’s name, and the shareholders’ details.


4. How long does it take to register a company in Côte d’Ivoire?

The process of registering a company in Côte d’Ivoire takes between 15 and 30 days.


5. Do I need a local partner to form a company in Côte d’Ivoire?

No, you don’t need a local partner to form a company in Côte d’Ivoire. However, it is advisable to work with a local legal representative who understands the local laws and regulations.


6. What are the taxes for companies in Côte d’Ivoire?

Companies in Côte d’Ivoire are subject to various taxes, including corporate income tax, value-added tax (VAT), and social security contributions. The corporate income tax rate is 25%.


7. What are the accounting requirements for companies in Côte d’Ivoire?

Companies in Côte d’Ivoire are required to keep accurate accounting records and file annual financial statements with the Chamber of Commerce and Industry.


8. Can foreigners own a company in Côte d’Ivoire?

Yes, foreigners can own a company in Côte d’Ivoire. However, there are restrictions in certain sectors, such as mining and agriculture.


9. What is the minimum share capital required to form a company in Côte d’Ivoire?

The minimum share capital required to form a company in Côte d’Ivoire is XOF 1,000,000.


10. Can I open a bank account for my company in Côte d’Ivoire?

Yes, you can open a bank account for your company in Côte d’Ivoire. You will need to provide the required documents, such as your business registration certificate and identification documents.

Economy

Côte d’Ivoire has seen a steady growth in its economy over the past few years. According to the World Bank, the country’s GDP grew by 7.2% in 2019, making it one of the fastest growing economies in Africa. The country’s exports have also seen a significant increase, with exports reaching $14.3 billion in 2019, up from $12.3 billion in 2018. The country’s main exports include cocoa, coffee, and timber, which account for over 70% of the country’s total exports. The country’s main trading partners are France, the United States, and China. In addition, the country has seen a steady increase in foreign direct investment, with FDI reaching $2.3 billion in 2019. The country’s government has also implemented a number of reforms to improve the business environment, including the introduction of a new investment code and the establishment of a one-stop shop for investors. Overall, Côte d’Ivoire has seen a positive economic outlook in recent years, and is well-positioned to continue its growth in the future.

Taxation

In Côte d'Ivoire, both individuals and companies are subject to taxation.


For individuals, Côte d'Ivoire operates a progressive tax system with tax rates ranging from 0% to 35% on the taxable income earned during a fiscal year, which runs from January 1st to December 31st. The tax system is residency-based, meaning that tax residents are taxed on their worldwide income, while non-residents are only taxed on their Côte d'Ivoire-sourced income. There are also various deductions and exemptions available to reduce the taxable income, such as deductions for pension contributions and donations to charities.


For companies, the corporate tax rate is a flat rate of 25% on their taxable income. Dividends received by a resident company are taxed at a rate of 5%, while non-resident companies are taxed at a rate of 20%. There are also various tax incentives available for companies, such as a reduced tax rate for companies that invest in certain priority sectors.


Tax returns for both individuals and companies are generally due on or before March 31st following the end of the fiscal year. Companies are required to pay their taxes in installments throughout the year based on their projected income. Moreover, there are additional deadlines for specific taxes such as the Value Added Tax (VAT) returns, which are due on the 15th of the month following the end of the reporting period.


In Côte d'Ivoire, the tax authority responsible for administering and collecting taxes is the General Tax Directorate. Payment of taxes can be made at designated banks or through electronic payment systems.


It is important to note that Côte d'Ivoire has a complex tax system, with various incentives and exemptions available. Therefore, it is advisable for individuals and companies to seek advice from professional tax advisors to ensure that they comply with all tax obligations and take advantage of all available benefits.

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