Business entities in Equatorial Guinea in 2023
Healy Consultants will assist our Clients with incorporating the optimal corporate structure in Equatorial Guinea. There are several ways of doing business in Equatorial Guinea, the most common being the setting up of a limited liability company (locally known as a SARL). Foreign entrepreneurs may also opt to set up a public limited company, a limited partnership or a branch office.
The Equatorial Guinea limited liability company (Société à Responsabilité Limitée – SARL)
- In accordance with Equatorial Guinea regulations, all foreign-owned Equatorial Guinea LLCs must have i) 35% of their shares held by Equatorial citizens and ii) one third of their directors must also be Equatorial Guinea citizens. Consequently, most of our Clients prefer to register a branch of their foreign business in Equatorial Guinea. Alternatively, Healy Consultants Group can assist our Clients find nominee shareholders and directors;
- An Equatorial Guinea LLC must appoint an auditor to submit financial statements and an audit must be submitted every year Such entity must also maintain its accounting books in French at its registered office in Equatorial Guinea, according to the OHADA laws.
The Equatorial Guinea public limited company (Société anonyme – SA)
- Like the LLC, the Equatorial Guinea PLC (SA) requires 35% of its shareholders to be held by Equatorial Guinea citizens, while 33% of directors must also be nationals of the country;
- The Equatorial Guinea public limited company (PLC) accounting books must be maintained in French at its registered office in Equatorial Guinea. If required, Healy Consultants will assist our Client to locate permanent office premises in Equatorial Guinea. Annual financial statements must be prepared and an audit must be submitted every year.
The Equatorial Guinea branch (Succursale)
Foreign corporations can register a branch in Equatorial Guinea. The scope of operations for this entity will be defined by the parent company. Also, the branch office must have a registered office in Equatorial Guinea as well as a resident agent appointed by the company to receive summons, notices etc. on behalf of the company.
Table of comparison between Equatorial Guinea entities
| LLC | PLC | Branch | |
|---|---|---|---|
| Also known as: | SARL | SA | Succursale |
| How long to set the company up? | 16 weeks | 16 weeks | 20 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 |
| 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 |
| Equatorial Guinea resident agent required? | Yes | Yes | Yes |
| Corporate shareholders allowed? | Yes | Yes | Yes |
| Corporate director(s) allowed? | Yes | Yes | Yes |
| Statutory audit required? | Yes | Yes | Yes |
| Equatorial Guinea corporate tax rate? | 35% | 35% | 35% |
| Annual financial statements required? | Yes | Yes | Yes |
| Regulated by? | Equatorial Guinea Companies Registrar | Equatorial Guinea Companies Registrar | Equatorial Guinea Companies Registrar |
| 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 Equatorial Guinea? | Yes | Yes | Yes |
| Can buy Equatorial Guinea property? | Yes | Yes | Yes |
| Total Equatorial Guinea business setup costs in yr. 1? | US$22,200 | US$22,200 | US$21,850 |
| Subsequent annual costs (incl. accounting and tax fee)? | US$3,900 | US$3,900 | US$3,900 |
| Sample engagement invoice? | View invoice PDF | View invoice PDF | View invoice PDF |
