Business entities in Burkina Faso in 2022

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Healy Consultants will assist our Clients with incorporating the optimal corporate structure in Burkina Faso. There are several ways of doing business in Burkina Faso, the most common being the setting up of a limited liability company. Foreign entrepreneurs may also opt to set up a public limited company, a limited partnership or a branch office.

The Burkina Faso limited liability company (Société à Responsabilité Limitée – SARL)

  1. The Burkina Faso limited liability company (LLC) must appoint at least 1 director and 1 shareholder who can be of any nationality. The minimum paid-up share capital required to complete the incorporation process is US$2000;
  2. A Burkina Faso LLC must appoint an auditor to submit financial statements and an audit must be submitted every year;
  3. The Burkina Faso LLC must maintain its books of accounts in French at its registered office in Burkina Faso according to the OHADA laws.

The Burkina Faso public limited company (Société anonyme – SA)

  1. This business entity requires a minimum capital of US$20,000 which must be paid up in full prior to incorporation. At least 1 shareholder and 3 directors must be appointed, whom can be of any nationality.
  2. The Burkina Faso public limited company (PLC) books of accounts must be maintained in French at its registered office in Burkina Faso. The accounts must be maintained according to the OHADA system of accounting. If required, Healy Consultants will assist our Client to locate permanent office premises in Burkina Faso;
  3. Annual financial statements must be prepared and an audit must be submitted every year. A Burkina Faso PLC must appoint an approved auditor

The Burkina Faso branch (Succursale)

A Burkina Faso branch office can be 100% foreign owned. The scope of operations for this entity will be defined by the parent company. Also, the branch office must have a registered office in Burkina Faso as well as a resident agent appointed by the company to receive summons, notices etc. on behalf of the company.

Table of comparison between Burkina Faso entities

  LLC PLC Branch
Also known as: SARL SA Succursale
How long to set the company up? 3 weeks 4 weeks 5 weeks
How long to open company bank account? 4 weeks 5 weeks 6 weeks
Legal liability? Limited Limited Unlimited
Wholly foreign owned? Yes Yes Yes
Minimum paid - up share capital? US$2,000 US$20,000 US$1
File annual tax return? Yes Yes Yes
Tax registration certificate required? Yes Yes Yes
Recommended corporate bank account? Bank of Africa BSIC UBA
Does our Client need to travel? No No No
Resident director required? No No No
Resident shareholder required? No No No
Minimum directors allowed? 1 3 1
Minimum shareholders? 1 1 1
Tax identification code needed? Yes Yes Yes
Burkina Faso resident corporate agent required? Yes Yes Yes
Corporate shareholders allowed? Yes Yes Yes
Corporate director(s) allowed? Yes Yes Yes
Statutory audit required? Yes Yes Yes
Burkina Faso corporate tax rate? 27.5% 27.5% 27.5%
Annual financial statements required? Yes Yes Yes
Regulated by? Chamber of Commerce and Industry Ministry of Commerce Ministry of Commerce
Allowed to issue sales invoices? Yes Yes Yes
Allowed to sign contracts? Yes Yes Yes
Allowed to import and export goods? Yes Yes Yes
Can rent an office space in Burkina Faso? Yes Yes Yes
Can buy Burkina Faso property? Yes Yes Yes
Total Burkina Faso business setup costs in yr. 1? US$15,300 US$18,450 US$17,450
Subsequent annual costs (incl. accounting and tax fee)? US$3,400 US$3,400 US$3,400
Sample engagement invoice? View invoice PDF View invoice PDF View invoice PDF

Contact us

For additional information on our business setup services in Burkina Faso, please contact our in-house country expert, Mr. Simon Guidecoq, directly:
client relationship officer - Simon
BCEAO Burkina Faso Chamber of Commerce and Industry Burkina Faso Directorate General of Taxes Burkina Faso Ministry of Industry Trade and Handicrafts Burkina Faso National Social Security Fund Burkina Faso House of Companies Cefore