Business entities in Mali
Healy Consultants assists our Clients with incorporating the best type of corporate structure in Mali. In order to do business in Mali, our Clients often choose to incorporate a limited liability company. Instead of forming a subsidiary in Mali, foreign companies can also register a branch office or a representative office.
The Malian limited liability company (SARL)
- The Malian limited liability company (LLC, locally known as SARL) is commonly used by entrepreneurs to setup an SME. A Mali LLC can be formed by one or more individuals or corporates of any nationality. A minimum share capital of US$11,000 will also be required to complete Mali company setup;
- The management of a Malian LLC is performed by at least one individual, who has to be named in the company’s articles or designated by a collective decision of the shareholders. Corporate directors are not allowed in Mali.
The Malian Public Limited Company (SA)
- This business entity requires a minimum of US$22,000 as share capital for Mali business setup. Additionally, the SA can be administered by a single individual appointed with the title of Director General or a Board of Directors consisting of at least three members. There are no restrictions as to the nationality or the residency of the directors;
- To give your company a marketing edge, Healy Consultants recommends our Clients establish a Malian PLC instead of an LLC. They won’t have to list their company on a stock exchange, as this is not required by Malian regulation.
Mali Commercial law stipulates that a branch office can be 100% foreign owned. The range of operations for this entity will mainly be defined by the overseas company. Also, the branch office will have an independent management team and corporate bank account based in Mali.
Representative office (bureau de liaison)
Representative offices of a foreign company are not allowed to make direct sales with Mali. Consequently, this entity can only engage in i) market research and ii) promoting the business of the “parent” company.
Table of comparison between Mali entities
|LLC||PLC||Branch office||Rep office|
|Also known as||SARL||SA||Succursale||Bureau de representation|
|How long to set up the Mali business?||4 weeks||6 weeks||6 weeks||4 weeks|
|How long to open bank account in Mali?||4 weeks||4 weeks||4 weeks||4 weeks|
|Wholly foreign owned?||Yes||Yes||Yes||Yes|
|Minimum share capital?||US$11,000||US$22,000||N/A||N/A|
|File annual tax return?||Yes||Yes||Yes||Yes|
|Tax registration certificate required?||Yes||Yes||Yes||Yes|
|Recommended corporate bank account?||Banque Atlantique Mali||EcoBank||Bank of Africa||EcoBank|
|Does our Client need to travel?||No||No||No||No|
|Resident director required?||No||No||No||No|
|Local shareholder required?||No||No||No||No|
|Minimum directors allowed||1||1||1||1|
|Resident company secretary required?|
Corporate shareholders allowed?
Corporate director(s) allowed?
Corporate tax rate?
|Corporate shareholders allowed?||Yes||Yes||Yes||Yes|
|Corporate director(s) allowed?||No||No||No||No|
|Corporate tax rate?||30%||30%||30%||N/A|
|Annual financial statements required?||Yes||Yes||Yes||Yes|
|Statutory audit required?||No||Yes||Yes||Yes|
|Allowed to issue sales invoices?||Yes||Yes||Yes||No|
|Allowed to sign contracts?||Yes||Yes||Yes||No|
|Allowed to import and export goods?||Yes||Yes||Yes||No|
|Can rent an office space in Mali?||Yes||Yes||Yes||Yes|
|Can buy Mali property?||Yes||Yes||Yes||No|
|Can own equity in other Mali companies?||Yes||Yes||Yes||No|
|Total Mali business setup costs in Yr. 1||US$18,050||US$20,050||US$19,250||US$19,300|
|Subsequent annual costs (incl. accounting and tax fee)||US$7,000||US$9,000||US$8,400||US$9,000|
|Sample engagement invoice|