Benin officially the Republic of Benin, is a country in West Africa. The capital of Benin is Porto-Novo, but the chair of government is in Cotonou. The Government of Benin (GOB) encourages foreign investment. The Presidential Investment Council (PIC), established in 2006 to reinforce dialogue between the GOB and investors, aims to fast implementation of reforms and boost the business environment. Benin made starting a business easier by appointing a representative of the commercial registry at the one-stop shop for business registration. Benin has taken several initiatives to attract foreign investment (especially in the electricity generation sector), such as establishing a Presidential Investment Council. The incorporation package which needs to be presented to Benin’s Chamber of Commerce and Industry’s (CCIB) Corporate Formalities Center (CFC) to incorporate a company. Scroll down for more information on company formation in Benin.
Type | Limited Liability Company, Société à Responsabilité Limitée (SARL) |
Under Benin law, foreigners can own | 100% |
Share Capital | XOF 1,000,000 |
Manager | Minimum One |
Shareholders | Minimum One |
Memorandum and Articles of Association | No |
Can the entity hire expatriate staff in Benin | Yes |
Tax Registration Certificate Required | Yes |
Statutory audit required | Yes |
Annual Return | Yes |
Annual Tax | Yes |
Access to Benin double tax treaties | Yes |