Business entities in Ivory Coast

Healy Consultants will assist our Clients with incorporating the optimal corporate structure in Ivory Coast. There are several ways of doing business in Ivory Coast, the most common being the setting up of a limited liability company. Foreign entrepreneurs may also opt to register a branch office, or a representative office if they do not plan to trade in Ivory Coast.

The Ivory Coast limited liability company (Société à Responsabilité Limitée – SARL)

The Ivory Coast 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$2,000 (FCFA20,000);
An Ivory Coast LLC must appoint an auditor from setup and audited financial statements must be submitted every year. The Ivory Coast LLC must maintain its books of accounts in French at its registered office in Ivory Coast. The accounts must be maintained according to the OHADA system.

The Ivory Coast public limited company (Société anonyme – SA)

This business entity requires a minimum capital of US$20,000 (FCFA200,000) which must be paid up in full prior to Ivory Coast business setup. At least 1 shareholder and 3 directors must be appointed, whom can be of any nationality;
The Ivory Coast public limited company (PLC) books of accounts must be maintained in French at its registered office in Ivory Coast. 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 Ivory Coast;
Annual financial statements must be prepared and an audit must be submitted every year. An Ivory Coast PLC must appoint an approved auditor.

The Ivory Coast branch (Succursale)

The scope of operations for the branch office is defined by the parent company. Also, the branch office must have a registered office in Ivory Coast as well as a resident agent appointed by the company to receive summons, notices etc. on behalf of the company.

The Ivory Coast representative office (bureau de liaison)

Foreign companies are also allowed to setup permanent establishments in the form of representative offices in Ivory Coast. This entity is not allowed to engage in any commercial or profit making activities. A representative office is only permitted to i) conduct market research and ii) promote activities of its company.

Table of comparison between Ivory Coast entities

	LLC	PLC	Branch	Representative office
Also known as:	SARL	SA	Succursale	Bureau de liaison
How long to set the company up?	6 weeks	8 weeks	8 weeks	6 weeks
How long to open company bank account?	4 weeks	4 weeks	4 weeks	4 weeks
Legal liability?	Limited	Limited	Unlimited	Unlimited
Wholly foreign owned?	Yes	Yes	Yes	Yes
Minimum paid - up share capital?	US$2,000	US$20,000	US$1	US$1
File annual tax return?	Yes	Yes	Yes	Yes
Tax registration certificate required?	Yes	Yes	Yes	Yes
Recommended corporate bank account?	Standard Chartered Bank	Ecobank	Banque Atlantique	Banque Atlantique
Does our Client need to travel?	No	No	No	No
Resident director required?	No	No	No	No
Resident shareholder required?	No	No	No	No
Minimum directors allowed?	1	3	1	1
Minimum shareholders?	1	1	1	1
Tax identification code needed?	Yes	Yes	Yes	Yes
Ivory Coast resident corporate agent required?	Yes	Yes	Yes	Yes
Corporate shareholders allowed?	Yes	Yes	Yes	Yes
Corporate director(s) allowed?	Yes	Yes	Yes	Yes
Statutory audit required?	Yes	Yes	Yes	No
Ivory Coast corporate tax rate?	25%	25%	25%	N/A
Annual financial statements required?	Yes	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 Ivory Coast?	Yes	Yes	Yes	Yes
Can buy Ivory Coast property?	Yes	Yes	Yes	No
Total Ivory Coast business setup costs in yr. 1?	US$21,290	US$21,590	US$22,390	US$22,090
Subsequent annual costs (incl. accounting and tax fee)?	US$6,900	US$6,900	US$6,900	US$3,650
Sample engagement invoice?	View invoice PDF	View invoice PDF	View invoice PDF	View invoice PDF