DOING BUSINESS IN NIGER
Since 2003, Healy Consultants Group PLC has assisted our Clients with starting companies in Niger. Our services include i) Niger business registration ii) assistance to secure government licenses iii) Niger corporate bank account opening services iv) employee recruitment v) work visa strategies and vi) office rental solutions in Niger.
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Advantages and disadvantages
Advantages of Niger company registration
- It is possible to start a limited liability company in Niger with a minimum of i) one shareholder and ii) one director of any nationality. The minimum paid-up capital required for incorporation is US$2,000 and our Client will not have to travel to Niger to complete the process;
- Niger has a lot of unexploited natural resources which include uranium, oil and gold. The government encourages foreign investors interested in the mining industry to set up businesses in Niger and explore and develop the potential. There are no restrictions as to what industry a foreign entrepreneur can invest;
- Niger business setup costs as well as labor costs and other operating costs, such as the cost of renting office space, are amongst the lowest in the Sahel region. For example the monthly average wage in Niger is US$52.
Disadvantages of Niger company registration
- Apart from being one of the poorest countries in the world with ¾ of the population living in rural area and relying mostly on subsistence farming, Niger is prone to natural catastrophes which include extreme weather conditions such as severe drought or destructive flooding. The country also experiences locust plagues which leave behind massive destruction of crops. These factors reduce foreign investment significantly and negatively impacts the country’s economy and living conditions of its population;
- Niger is constantly at a risk of political unrest as a result of violence spilling over from the neighboring countries of Libya and Mali, which causes insecurity in the country;
- Transparency International’s Corruption Perceptions Index 2014 negatively ranks Niger as 103rd least corrupt country in the world. This clearly demonstrates that corruption is a widespread problem in Niger. This impacts negatively on costs of doing business in Niger as obtaining necessary licenses to do business is costly and time-consuming. Healy Consultants will be happy to help you handle your administrative requirements;
- The official language of Niger is French therefore all business documents must be translated into French prior to incorporation of a company and thus language is a barrier for foreign investors when doing business;
- Taxes levied in Niger are quite high with corporate income tax set at a>standard rate of 30% on all corporate profits and VAT at the rate of 19%.
Best uses for a Niger company
- Mineral export company: Since Niger is largely undeveloped and has a small internal market, the largest opportunities are related to the exploitation and export of natural resources. Niger’s largest trading partner is France, to which it exports radioactive material to fuel French nuclear reactors. More conventional fuel sources are present in Niger, with nearly 16% of its 2012 exports being petroleum-based.
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- Time to incorporate: Three weeks
- Cost to set up: Contact us
- Minimum capital: US$2,000
- Physical office required: No
- Shareholders: 1
- Directors: 1
- Company secretary: No
- Resident director: No
- Corporate tax rate: 30%
- Corporate tax base: Territorial
- Shelf companies: No
- Main company type: SARL