10 steps to incorporating in Mali in 2024

Incorporation of a company in Mali constitutes a challenging engagement and it is important to clearly ascertain the licensing requirements for the Malian business before proceeding. The typical procedures are as follow:

1. Before Healy Consultants starts to incorporate the company in Mali, our Client i) emails us scans of at least 75% of the due diligence documents requested by our compliance department ii) settles our fees and iii) signs our engagement letter. Thereafter, Healy Consultant provides our Client with a detailed project plan, outlining all steps needed before he can start business in Mali;
2. Before Mali business incorporation, Healy Consultants will then agree on the company name and the optimum corporate structure, including shareholders and directors. We also prepare a business plan describing our Client’s planned business in Mali for his review and approval;
3. Healy Consultants assists our Client to either i) open a temporary bank account with a local commercial bank in Mali or ii) commission a notary public and iii) deposit the required initial minimum capital and obtains proof of deposit;
4. Through a Notary Public, Healy Consultants i) prepares and notarizes the company memorandum and articles of association and bylaws ii) signs an affidavit to confirm no criminal records in country of origin iii) pay all the required registration fees at the notary;
5. Healy Consultants thereafter purchases legal stamps from the office of the representative of the tax administration at the Company Formalities Centre (CFE) in Mali;
6. Concurrently, we i) register for taxes ii) applies for the tribunal de commerce and the statistical office iii) provides proof of the payment of patent at the Company Formalities Centre (CFE);
7. Healy Consultants’ Mali Incorporation Team then submits all the required documentation to the Company Formalities Centre and obtains a registration certificate;
8. Subsequently, Healy Consultants publishes a notice of the new company’s incorporation in the local national newspaper;
9. Healy Consultants thereafter assists our Client to open a corporate bank account with a leading bank in Mali that offers excellent internet banking;
10. Following successful incorporation of the Mali company, Healy Consultants will courier, to our Client’s preferred international address, the complete company kit including i) original corporate documents ii) an unopened bank correspondence and iii) Client engagement feedback survey regarding the quality of our Mali company formation services.