Company Formation in Benin | Business Registration | IMC
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SET UP A BUSINESS IN BENIN

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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.

 COMPANY FORMATION IN BENIN

  • In Benin, as in all member countries of the Organization for the Harmonization of Business Law in Africa (OHADA), any company must choose a unique company name before it is registered in the trade register.
  • The limited liability company, in the largest business city and is 100% domestically owned.
  • There are a free trade zones in the port of Cotonou for Benin’s landlocked neighbours (Burkina Faso and Niger).

COMPANY REGISTRATION IN BENIN- LICENSING

  • Import goods for commercial purposes must obtain an importer’s permit from the Ministry of Trade, Crafts and Tourism

 ACCOUNTING AND TAX FOR COMPANY REGISTERED IN BENIN

  • The corporate income tax rate is 38% for most companies, and 58% for petroleum and mining firms. Those companies exempt from income tax include agricultural credit unions and mutual associations. If reinvested within 3 years, capital gains are exempt from tax.
  • Dividends paid to residents and tax law, but it includes companies registered corporate income tax liability is less than non-residents generally are subject to a 15% in Benin and permanent establishments and XOF 200,000 withholding tax. This rate is reduced to 10% branches of nonresident corporations.

TypeLimited Liability Company,
Société à Responsabilité Limitée (SARL)
Under Benin law, foreigners can own100%
Share CapitalXOF 1,000,000
ManagerMinimum One
ShareholdersMinimum One
Memorandum and Articles of AssociationNo
Can the entity hire expatriate staff in BeninYes
Tax Registration Certificate RequiredYes
Statutory audit requiredYes
Annual ReturnYes
Annual TaxYes
Access to Benin double tax treatiesYes