14 steps to incorporating in Senegal in 2024

Through a Power of Attorney, Healy Consultants Group will complete all incorporation procedures on our Client’s behalf. Please refer to the timelines page for standard engagement completion guidelines. See below for Senegal company incorporation steps:

• Pre-Incorporation Steps

  1. Before Healy Consultants Group commences Senegal company incorporation, our Client i) settles our fees to project manage the engagement ii) signs and returns our engagement letter and iii) provides us all the documents required for our due diligence checks;
  2. Healy Consultants Group drafts a detailed project plan mapping out, week by week, each step towards Senegal company incorporation and corporate bank account opening engagement completion;
  3. Healy Consultants Group assists our Client to i) decide on the optimum corporate structure including directors and shareholders and proposed company names for the intended company and ii) sign a virtual office agreement;
  4. Healy Consultants Group prepares i) draft power of attorney (POA) and ii) shareholders’ resolution. We e-mail our Client for signatures and courier of the originals to our Dakar office;
  5. Clients are requested to obtain a police clearance report;

• Incorporation steps

  1. Healy Consultants Group’s incorporation team prepares the draft articles of incorporation for the proposed company, and e-mails them to our Client for review and confirmation;
  2. Following our Client’s confirmation, Healy Consultants Group collates all necessary company incorporation documents and submits a company name reservation application to Senegal Commercial Court (Tribunal du commerce hors classe de Dakar);
  3. Healy Consultants Group injects a recommended minimum share capital of US$5,000, to be paid up through injection into a Senegal corporate bank account;
  4. Healy Consultants Group submits all registration documents to The Commercial Registry (Registre du Commerce et du Credit Mobilier) and obtains a certificate of incorporation;

• Post-Incorporation steps

  1. If required, Healy Consultants Group registers i) the company’s employees with the labour authority ii) the company with the Social Security Fund (Caisse de Securite Sociale) and iii) the company with the pension fund (Institut de Prevoyance Retraite);
  2. If required, our Client appoints a local accountant with Healy Consultants Group’s assistance;
  3. We request the transfer of paid-up capital from the Public Notary to our Client’s bank account;
  4. Additionally, if required, Healy Consultants Group banking team assists our Client to open a multicurrency corporate bank account with a top-tier bank in Senegal with excellent internet banking. In practice, this is challenging to achieve since companies are seldom allowed to have foreign currency accounts in Senegal. The request must be made through the Central Bank and approval is usually granted only to consulates/embassies, and MNCs and NGOs with special agreements with the government;
  5. Following Senegal business incorporation engagement completion, Healy Consultants Group will courier i) a full company kit to our Client, including original company documents and ii) unopened bank correspondence and a Client feedback survey to assess the quality of our Senegal company formation services.