DOING BUSINESS IN HAITI IN 2021
Since 2003, Healy Consultants Group PLC has assisted our Clients with business registration in Haiti. Our services include i) Haiti company incorporation ii) government license registration iii) business bank account opening iv) employee recruitment v) visa strategies and vi) office rental solutions.
|Compare different Haiti entities||LLC||BPO & IT company||Free zone LLC||Agribusiness company||Representative office|
|Also known as||SA||SS2I||Société en zone franche||Entreprise agroalimentaire||Bureau de représentation|
|Best use of company?||All products and services||Technological services||Manufacturing and export trading||Agriculture and related activities||Marketing and research|
|How soon can you invoice Clients/sign sales contracts?||4 months||4 months||6 months||5 months||Cannot trade|
|How soon can you hire staff?||4 months||4 months||6 months||5 months||4 months|
|How soon can you sign a lease agreement?||2 weeks||2 weeks||2 weeks||2 weeks||2 weeks|
|How long to supply corporate bank account numbers?||5 months||5 months||6 months||5 months||4 months|
|How long to supply company registration / tax numbers?||5 months||5 months||6 months||5 months||4 months|
|Corporate tax rate on annual net profits?||30%||0% for first 15 years||0% for first 15 years||0% for first 15 years||No income|
|Limited liability entity?||Yes||Yes||Yes||Yes||No|
|Government grants/incentives available?||Yes||Yes||Yes||Yes||No|
|Government approval required for foreign owners?||Yes||Yes||Yes||Yes||Yes|
|Resident director/partner/manager/ legal representative required?||No||No||No||No||Yes|
|Minimum paid up share capital?||US$500||US$500||US$500||US$500||US$1|
|Can bid for Government contracts?||Yes||Yes||Yes||Yes||No|
|Corporate bank account location?||Bank of the Republic of Haiti||Banque de l'Union Haïtienne||Capital Bank||Citibank||Sogebank|
|Can secure trade finance?||Yes||Yes||Yes||Yes||No|
|VAT payable on sales to local customers?||10%||10%||10%||10%||No sales allowed|
|Average total business set up engagement costs?||US$23,400||Request a proposal||Request a proposal||Request a proposal||US$21,550|
|Average total engagement period?||5 months||5 months||6 months||5 months||4 months|
Haiti business setup summary
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Advantages of Haiti company registration
- A Haiti limited liability company can be incorporated with 1 director and 3 shareholders, who can either be individuals or corporate bodies. The minimum share capital required is US$140 and our Clients do not need to travel to complete the engagement;
- In the bid to recover from the recent environmental disasters that hit the country, the Republic of Haiti offers an open market for foreign investments in key sectors of the economy including i) energy ii) telecommunications iii) agribusiness iv) manufacturing and v) construction;
- Companies established in the Haiti Free Trade Zones (FTZs) enjoy a 15 year tax holiday on i) all income taxes and ii) all communal taxes;
- Foreign investors in the textile industry will find abundant cheap unskilled labor in Haiti with the minimum wage at only US$4.70 per day;
- The Haitian government has passed regulations to try and woo foreign investments in the county. One of the regulations being the establishment of the Investment Code that prohibits legal and tax discrimination against foreign entrepreneurs;
- Transport costs are relatively cheaper in Haiti compared to other Latin America and Caribbean countries;
- Investors from the United States looking to establish in Haiti will benefit from enactments of investment insurance programs such as PIC, protecting US investments in Haiti from political risks;
- The Haitian government is a signatory to a number of international conventions regarding patents and trademarks protecting manufactures and innovators against copyrights infringements and unfair competition;
- Haiti exports crude oil and other related products of approximately 6000 barrels per day. The nation has promising prospects for tapping of renewable energy and utilising small hydropower, smart grid and biomass systems efficiently.
Disadvantages of Haiti company registration
- Establishing a new business in Haiti is quite costly and time consuming. Obtaining the authorization of operations for a new company at the commercial registry of the Haitian Ministry of Commerce alone can take an average of 16 weeks;
- A Haiti public limited company requires at least 3 shareholders and 1 director. The law requires that one of the shareholders be a Haitian national;
- A Haitian LLC is subject to i) a corporate income tax rate of 30% ii) a capital gains tax of 15% iii) a value added tax (VAT) of 10% of goods and services traded;
- In addition to the main taxes, companies in Haiti are subject to i) a stamp duty of 2% of the company’s nominal capital ii) a monthly payroll tax of 2% of employees’ gross wages and iii) numerous license payments;
- Insecurity and political instability are some of the major issues threatening investments and productivity thus hindering economic growth in the republic of Haiti;
- Foreign entrepreneurs will face a number of challenges doing business in Haiti due to the rampant corruption within the Haitian government. Bribery is a common practice if you want processes to be speeded up by government officials;
- Haiti has a challenging socio-economic outlook for conducting business due to i) insufficient access to financing for investors, ii) instable government and iii) lack of quality infrastructural facilities.
- Time to incorporate: Eighteen weeks
- Cost to set up: US$23,400
- Minimum capital: US$500
- Physical office required: Yes
- Shareholders: 3
- Directors: 1
- Company secretary: No
- Resident director: No
- Corporate tax rate: 30%
- Corporate tax base: Territorial
- Shelf companies: Unavailable
- Main company type: SA
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