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Benin

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Registering a company in Benin in 2020

Doing business in this jurisdiction has several advantages:

  • A developing economy;
  • The membership in international organizations WIPO / TRIPS, ICSID;
  • No residency requirements;
  • The ability to remote registration.

A business registration is from 2500 €

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Benin is a small French speaking African country with the capital Porto Novo, located along the Slave Coast in the Gulf of Guinea.

It borders on Niger, Burkina Faso, Togo (in the west) and Nigeria (in the east). The jurisdiction is a member of the following organizations: WIPO/TRIPS, ICSID. The official currency is CFA Franc.

Starting a business in this jurisdiction can be a profitable decision, and you want to learn more, you can ask for qualified advice on company registration process in Benin and opening an account with African bank.

Popular spheres of business

Those, who are interested in registering a company in Benin, we recommend that you consider the following business lines:

  • Setting up a Benin tourism company. The government is actively attracting investors to the tourism sector by creating favorable business conditions;
  • Registering a gold mining company in Benin (there are 39 explorations);
  • Opening an oil and gas company in Benin (there can be lot of potential explorations);
  • Setting up a Benin agricultural company (for collection and export of cotton, cashews, fruits, rice, yams, tapioca, palm oil, etc.);
  • Registering a logging company in Benin.

For more information, please request for individual advice on business organization procedure in Benin and opening a Benin bank corporate account from IQ Decision lawyers.

Legal forms & tax rates

Most often, entrepreneurs decide to register a SARL in Benin. We recommend that you take a closer look at the following comparative table of available business entity types with relevant tax rates.

Legal forms

Corporate tax rate

VAT rate

Recommended Minimum Share Capital

SARL (LLC)

30%

18%

50 USD

SARL in the Free Trade Zone

0%

0%

50 USD

SA* (PLC)

-

-

18 000 USD

RO

0%

-

-

Branch

30%

18%

-

*

Audit is required.

The most common option is to set up a Free Zone LLC in Benin.

Read also:
Registration requirements

If you are planning to open a Benin company remotely, then you will need to fulfill the following conditions:

  • At least 2 directors and 2 shareholders (can be non-residents);
  • Registered office (rented office space);
  • Package of the documents with notarized translations into French;
  • Public register of beneficiaries.

In order to register your own business in Benin and establish business processes you will need up to 4 months. You can set up a company in Benin without personal visit and open an account with Benin bank remotely with the help of our lawyers.

You have an opportunity to open an account for a Benin company in 21 African banks. We recommend that you consider the following bank institutions, which cooperate with non-residents:

  • EcoBank;
  • Diamond Bank;
  • Bank of Africa;
  • Societe Generale;
  • Orabank.

If you have questions, you can receive personal advice on company registration procedure in Benin. Also, IQ Decision lawyers will provide you with legal assistance in physical office registration in Benin and African bank account opening.

The information outlined in the article is actual at the time of its publication. Please refer to our specialists for checking possible solutions for your business.

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