Company Formation in Burkina Faso | Business Registration | IMC
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Burkina Faso

SET UP A BUSINESS IN BURKINA FASO

Burkina Faso is a landlocked country in West Africa. The Government of Burkina Faso (GOBF) wishes to attract more foreign direct investment (FDI) and has been implemented over the years, reforms to make Burkina Faso more impressive to international investors. GOBF revised its investment code in 2010, offering tax and exemptions from customs as well as from value added tax (VAT) on operational equipment. To further encourage business and investment, GOBF launched the Presidential Council for Investment, an advisory body in December 2008.
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 Company Formation in Burkina Faso

  • To simplify the registration process for companies wishing to establish a presence in Burkina Faso, the government launched eight enterprise registration centers called Centres de Formalités des Enterprises, known by their French acronym as CEFOREs. The CEFOREs are one-stop shops (OSS) for company registration
  • The LLC is the form of the most common and easiest company. Its share capital must be at least 1,000,000 FCFA and be divided into shares of at least 5,000 FCFA. The partners are liable for the company debts only up to their capital contribution. The managers of the LLC may be partners or paid individuals not linked with the company.
  • If the foreign corporation to which it is attached is located outside of “Organization for the Harmonization of Business Law in Africa”, then the branch will be considered as temporary and should in the following two years lead to the creation of a lawful company in the host country or in one of the other Member States of OHADA.

Company Registration in Burkina Faso – Licensing

  • Licensing, a major constraint to doing business in Burkina Faso is on the path to being streamlined.
  • The Business License issued by the Ministry of Commerce

 Accounting and Tax for Company Registered in Burkina Faso

  • Burkina Faso has an income tax on individual incomes levied at 30%.
  • The corporate income tax is also 30% and VAT rate across the country is 18%.
  • Capital gains tax on disposal of immovable property is 15%
Type Limited Liability Company/Branch office
Under Burkina Fosa law, foreigners can own 100%
Share Capital XOF1,000,000
Manager Minimum One
Shareholders Minimum One
Memorandum and Articles of Association Yes
Can the entity hire expatriate staff in Burkina Faso Yes
Tax Registration Certificate required Yes
Statutory audit required yes
How long to open Corporate Bank Account One Week
Timeframe to Incorporation 3-4 weeks
Annual Tax Yes
Access to Burkina Faso double tax treaties Yes

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