Senegal client case studies in 2024

  • US development consulting company establishes Senegal presence


    • In March 2020, a US-incorporated development consulting services company approached Healy Consultants Group to inquire about setting up a company in Senegal to undertake a USAID project in the country.
    • Our Director of Client Engagements, Seth Ochieng, phoned the Client and subsequently sent them an engagement advancement email outlining the process and cost of setting up a company in Senegal, including the projected timelines for the entire engagement.
    • Through email communication, our Client expressed their fear of travel due to the COVID-19 pandemic and requested our services to also open a Senegalese corporate bank account for their company without travel.
    • Our Client requested to pay our fees by instalment and we agreed an instalment plan fitting our Client’s financial plans.
    • After almost 2 weeks of discussions, our Client completed and signed our engagement letter and started to provide scanned copies of due diligence documents as per our compliance requirements.

    Engagement planning

    • In early April, our Client settled the first fee instalment and confirmed their preferred corporate structure for the proposed company. Seth then emailed our Client the first engagement update.
    • Within 1 week, Seth also emailed our Client i) a draft detailed business plan for review and input and ii) a detailed project plan outlining the step-by-step process of company setup and iii) company incorporation documents for our Client’s signatures.

    Senegal company incorporation

    • Our Senegal team received from our Client the original incorporation documents in Dakar in early May 2020 and proceeded to submit the incorporation application to Public Notary at the Commercial Courts and the Commercial Registry.
    • By mid-May our Client settled the paid-up share capital of US$1,000, and subsequently our Senegal Team proceeded to pay the same to the Public Notary and obtain proof of capital injection.
    • Within 1 week of capital injection, the Commercial Registry approved our Client’s Senegal company incorporation and issued a Registration Certificate and Tax Certificate.


    • In early-June 2020, our Client’s Senegal team requested Healy Consultants Group to also assist with registering the Client’s proposed USAID project with the Promotion of Investment & Major Works (APIX) in order to secure tax-exemption.
    • Seth requested our Client to provide the USAID project and proceeded to submit a quality application to APIX for consideration.
    • By mid-June, APIX approved our Client’s project and issued a notice of registration granting tax exemption. Thereafter, our Senegal team started the bank account opening process.

    Senegal corporate bank account

    • By the end of June 2020, our Senegal Team contacted multiple local top-tier banks in Senegal to secure their interest to onboard our Client’s business.
    • Within 1 week, Seth obtained, completed and emailed our Client their preferred bank’s account opening forms for signature and courier bank to Dakar.
    • In early July 2020, we received scan copies of signed bank forms and submitted an application to the bank for consideration, pending receipt of original documents.
    • The bank reverted multiple times requesting additional information including office accommodation certificate for the Dakar address and the original copy of the USAID project.
    • Our Senegal Team received the courier from our Client in early August 2020 and proceeded to submit the documents to our Client’s preferred bank branch in Dakar.
    • Within 1 week of receiving the original documents, the bank approved the application and sent the new corporate bank account numbers and a welcoming email directly to our Client.

    Engagement completion

    • Seth advised our Client on accounting and tax requirements and VAT obligations for their new company. Our Client confirmed that they have a local team in Senegal that would take care of their monthly filings.
    • Now that the engagement was completed, Seth sent our Client the engagement completion email thanking them and appreciating our Client’s co-operation and patience and requested a testimonial.
    • Healy Consultants Group prepared all the corporate documents including certificate of incorporation, APIX approval, M&AA and couriered the same to our Client’s address in the US.
  • Energy and industrial services provider establishes Senegal/Singapore subsidiaries


    • Our client, a Dubai-based energy and industrial services provider, wished to establish a presence in Senegal to provide services to local oil and gas companies;
    • Having found Healy Consultants Group through Google, our Client sent us an email inquiry to obtain more information on the process and timelines to establish a Senegalese company as rapidly as possible;
    • After multiple phone call discussions with our team, our Client confirmed they were interested to proceed with company setup with us.

    Engagement planning

    • Our Client completed and signed our engagement letter and settled the first instalment of our Senegal company incorporation fee to commence the engagement;
    • Healy Consultants Group prepared the draft of the proposed corporate structure for the Senegal company and emailed the same to our Client for review and approval;
    • Our Client provided Healy Consultants Group with scan copies of all due diligence documents required by our firm’s KYC process requirements;
    • Healy Consultants Group prepared a detailed project plan for the step-by-step process of company incorporation and tax registration, as well as a draft business plan for the new company;
    • Our Client confirmed they would not require our assistance to open a local corporate bank account because they did not intend to commence operations immediately.

    Company incorporation

    • Our incorporation team prepared all company incorporation documents and emailed the same to our Client for signatures and courier return to Dakar, Senegal;
    • Healy Consultants Group also requested our Client secure criminal record certificate for all proposed directors from police departments in their respective countries of residence;
    • Thereafter, our incorporation team proceeded to notarise all signed incorporation documents and deposited the minimum share capital with the Public Notary, obtaining deposit proof of the same;
    • Healy Consultants Group then submitted a quality company incorporation application to the Office of Support for the Creation of Enterprise (BCE) in Senegal;
    • Within two days of application submission, Healy Consultants Group obtained i) the new registration certificate ii) the memorandum of association and iii) tax certificate.

    Post-company incorporation

    • Our Client settled the final instalment of our outstanding fees;
    • To comply with Senegal government legal requirements, Healy Consultants Group emailed our Client a sample Senegal company sales invoice;
    • Healy Consultants Group also advised our Client on the monthly and annual accounting and tax filing requirements for their new company in accordance with Senegalese tax laws and regulations;
    • Having completed the Senegal engagement, our Client came back to us requesting we establish a Singapore company to provide the same services;
    • Upon signing our second engagement letter and settling our Singapore company setup fees, Healy Consultants Group prepared the necessary documentation for our Client’s e-signatures;
    • Within three days of receiving the signed documents, Healy Consultants Group provided our Client with a Singapore certificate of incorporation, Bizfile and memorandum and articles of association;
    • Our team collated all corporate documents for the Senegal and Singapore companies and handed them over to our Client’s representative in the UAE.

Contact us

For additional information on our company registration services in Senegal, please contact our in-house country expert, Mr. Simon Guidecoq, directly:
client relationship officer - Simon
apix, investment promotion and major projects in Senegal senegal chamber of commerce industry and agriculture senegal ministry of economics and finances IPRES - institution Provident Retreat Senegal social security fund of Senegal senegal-bank