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Registering a company in Senegal in 2020

Benefits of doing business in Senegal:

  • Stable economic and political situation;
  • 100% foreign ownership;
  • No customs duties on exports;
  • A favorable environment for opening small and medium-sized businesses;
  • Tax incentives;
  • Availability of skilled labor.

Support in company registration  – from €2,900

Approximate terms of company registration –from 3 weeks

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Senegal is an independent developing country located in West Africa.

Those, who want to set up a company in Senegal and open a corporate bank account in Senegal, must know the following:

  • Languages (official and national): French and Wolof;
  • The capital of the state is Dakar;
  • Population: more than 16 million people;
  • Six neighboring states: Mali, Cape Verde, Guinea, The Gambia, Mauritania and Guinea-Bissau;
  • West African CFA franc (XOF) is the official state currency;
  • The country is a member of the CEMAS, ICRM, FZ, ECOWAS, Group 77 and other organizations.

You can learn more about the jurisdiction by asking for personal advice on company registration process in Senegal from IQD Consulting.

Business benefits

Opening a company in Senegal remotely can be a good idea for the following reasons:

  • It is economically and politically one of the most stable and democratic states in the African continent;
  • Senegal includes a list of countries that are not involved in the automatic exchange of tax information (CRS), which means high level of data privacy;
  • Loyal taxation;
  • Inexpensive rental office space: from $ 8 per 1 m2;
  • Another advantageous nuance for registering a company in Senegal: low wages for qualified personnel.
Best uses for a Senegal company

In order to open your own business in Senegal, you can choose one of the following popular options:

  • Registering an agricultural company in Senegal (cotton, peanuts);
  • Setting up a Senegalese chemical company (phosphates);
  • Registering a fish farming company in Senegal (cultivation of seafood and fish on specially created water plantations of the Atlantic and the Senegal River, 1700 km long);
  • Opening a Senegalese construction company.
Business entity types & tax treatment

Those, who want to start a business in Senegal and open an African bank, we recommend considering the following legal forms:

  • Tax resident LLC (SARL);
  • PLC (SA);
  • Free Zone LLC;
  • Branch;
  • RO.

Legal form

Corporate tax



Share capital




10% on dividends
8-16% on bond interest

20% on royalties

2 000 USD




20 000 USD

Free Zone LLC








IQD Consulting experts recommend that you register an LLC in Senegal as it is the most popular legal form.

Read also:
How to open a company in Senegal remotely

If you are intended to register a company in Senegal, then take into account the following:

  1. Individuals or corporate bodies of any nationality (at least two directors and shareholders);
  2. There is no need for a secretary or physical office;
  3. Financial statements are required.
Terms of registration: 4 weeks

You can register a Senegalese company without a personal visit and open a corporate account with a Senegalese bank remotely with the help of our specialists.

We propose you to take a closer look at the following banks:

  • CBAO;
  • Group Bank Dakar Senegal;
  • Ecobank; UBA;
  • BGFIBank Senegal;
  • BHS Bank;
  • ABCA;
  • BHS;
  • BOA Senegal Agence Maristers;
  • Banque Atlantique;
  • Bank of Africa;
  • Orabank;
  • Diamond Bank.

IQD Consulting company can provide you with qualified advice on business organization process in Senegal and legal support services in opening an account for a Senegalese company.

  • 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.
  • Still have any questions?

    Fill out the form or contact us as you find convenient. Our experts will help you resolve the issue.

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