Telephone Numbers
Telephone Numbers
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For companies looking at West Africa, Senegal usually lands near the top of the shortlist — partly because of legal predictability, partly because of geography. The country belongs to OHADA, the framework that harmonises commercial law across 17 African states, incorporation runs through the APIX single window, and the capital barrier for foreign investors is genuinely low. What follows covers the full path: choosing an entity, registering with APIX, tax rates, opening a bank account, and the obligations that begin the day after incorporation.
Senegal is one of the few African countries never to have experienced a military coup since independence, and power has changed hands through the ballot box. The legal system follows the French civil law tradition, while commercial law is governed by the OHADA Uniform Acts — meaning a SARL incorporated in Dakar is recognised under the same legal logic in sixteen other jurisdictions, from Côte d'Ivoire to Cameroon.
Three economic factors carry most of the weight. Market access: Senegal belongs to both ECOWAS and the West African Economic and Monetary Union (WAEMU), a shared market of roughly 130 million consumers under a single currency. Currency stability: the CFA franc (XOF) is pegged to the euro at EUR 1 = XOF 655.957, removing most of the foreign exchange risk for a European or Turkish parent. Logistics: the Port of Dakar is the transit gateway for landlocked Mali and Burkina Faso, making Senegal a natural base for Francophone Africa.
Added to that is the supply-chain demand created by the Sangomar oil field and the Grand Tortue Ahmeyim gas project, where a locally registered entity has effectively become a precondition for bidding.
Corporate structures are governed by the OHADA Uniform Act on Commercial Companies and Economic Interest Groups (AUSCGIE). The options foreign investors typically weigh:
| Entity Type | Abbreviation | Minimum Capital | Best Suited For |
|---|---|---|---|
| Limited liability company | SARL | XOF 100,000 | SMEs and foreign investors |
| Single-shareholder LLC | SUARL | XOF 100,000 | Sole owners and subsidiaries |
| Public limited company | SA | XOF 10,000,000 | Large-scale and institutional investment |
| Simplified joint-stock company | SAS | Set freely in the by-laws | Joint ventures and flexible governance |
| General partnership | SNC | No minimum | Partner-based businesses |
| Economic interest group | GIE | No minimum | Joint projects and cooperation |
Most enquiries end up as a SARL, or its single-shareholder variant, the SUARL. Law No. 2014-20 of 24 March 2014 cut the minimum share capital from XOF 1,000,000 to XOF 100,000 and set the minimum nominal value of a share at XOF 5,000. One shareholder is sufficient, there is no nationality restriction, and the manager (gérant) need not reside in Senegal.
The public limited company requires XOF 10,000,000 in share capital and is frequently the mandatory form in regulated activities such as banking, insurance and microfinance. It can be incorporated with a single shareholder, but it triggers board governance requirements and, above defined thresholds, the appointment of a statutory auditor (commissaire aux comptes).
A foreign company may open a branch, but Article 120 of the OHADA Uniform Act requires branches to be contributed to a company incorporated in an OHADA member state within two years, subject to a ministerial extension. For a permanent presence, incorporating a SARL or SA directly is usually the cleaner route. Where the purpose is market research or liaison only, a representative office (bureau de représentation) is available.
Registration runs through the Business Creation Office (Bureau d'appui à la Création d'Entreprise – BCE) within APIX, which operates as a single window. Notary, commercial registry, tax administration and social security bodies sit under one roof, so filings move as a single dossier.
| 1 | Company name search and reservation The commercial registry (RCCM) is checked for conflicting names and the chosen name is reserved. Time: 1 business day |
| 2 | Drafting the articles of association Corporate purpose, capital structure, share allocation and the manager's powers are defined; a notarial deed is required where contributions in kind or real property are involved. Time: 2–5 business days |
| 3 | Depositing the share capital Cash contributions are blocked with a bank or a notary and released once registration is complete. Time: 2–5 business days |
| 4 | RCCM registration through APIX Articles of association, identity documents, proof of address and criminal record extracts are filed; the commercial registry number is issued. Time: 2–3 business days |
| 5 | Obtaining the NINEA tax number The company is registered with the Directorate General of Taxes and Domains (DGID) and its VAT regime is determined. Time: 1–3 business days |
| 6 | Social security and operating registrations Registration with IPRES and the Social Security Fund (CSS), notification to the Labour Inspectorate and, where applicable, sector licence applications. Time: 3–7 business days |
The RCCM and NINEA stage alone can be completed within 48 to 72 hours when the file is complete. Once notary appointments, capital blocking and social security registrations are added, a realistic end-to-end timeline is two to four weeks. The most common cause of delay is apostille or consular legalisation of foreign shareholders' documents.
Two numbers are routinely confused, and both are mandatory. The RCCM (Registre du Commerce et du Crédit Mobilier) is the commercial registry entry that establishes the company's legal identity — corporate personality begins with this registration. The NINEA (Numéro d'Identification National des Entreprises et des Associations) is the taxpayer number held with the tax administration, required to issue invoices, file VAT returns and bid for public contracts.
The practical consequence is simple: no bank will open an account without an RCCM extract, and no legally valid invoice can be issued without a NINEA. Requesting both within the same APIX dossier saves weeks compared with filing separately with two authorities.
| Item | Approximate Amount |
|---|---|
| SARL / SUARL minimum share capital | XOF 100,000 |
| SA minimum share capital | XOF 10,000,000 |
| Minimum nominal value per share | XOF 5,000 |
| RCCM and NINEA registration fees | XOF 10,000 – 100,000 |
| Notary fees (SARL with modest capital) | XOF 130,000 – 400,000 |
| Registration duty on capital increase | 1% of the increase |
The full share capital need not be paid up at incorporation; in a SARL, part of the cash contribution can follow a schedule set in the by-laws. A symbolic XOF 100,000 nonetheless proves thin in banking and public procurement contexts, and capital in the XOF 1,000,000 – 5,000,000 range makes a visible difference in credit and supplier relationships.
The 2025 reform of the General Tax Code removed the XOF 100,000 threshold for stamp duty, making the 1% rate generally applicable. Current fee levels should therefore be confirmed with the DGID or a notary before the dossier is opened.
| Tax | Rate | Notes |
|---|---|---|
| Corporate income tax (IS) | 30% | Same for companies and branches |
| Minimum tax (IMF) | 0.5% | On turnover, capped at XOF 5,000,000 |
| VAT (TVA) | 18% | 10% for accommodation and tourism |
| Financial activities tax (TAF) | 17% | Replaces VAT on banking and money transfers |
| Employer contribution (CFCE) | 3% | On total gross salaries |
| Special Economic Zone companies | 15% | Through a 50% corporate tax reduction |
Corporate income tax is charged at 30% on Senegal-source profits. Companies reporting a loss, or whose computed tax stays low, fall under the minimum tax (impôt minimum forfaitaire): 0.5% of the previous year's turnover, capped at XOF 5,000,000. Businesses still in their investment phase should model this item separately in cash planning.
The standard VAT rate is 18%, reduced to 10% for accommodation and tourism. Banking, money transfer and financial intermediation fall under the 17% financial activities tax instead of VAT. Input VAT on non-resident services is generally not deductible, apart from narrow exceptions such as transfers of know-how — a direct cost for group companies invoicing a Senegalese subsidiary.
The FY25 Finance Law made electronic invoicing through a public portal mandatory. Non-compliance carries a penalty of 25% of the VAT invoiced, capped at XOF 5,000,000. New companies should configure their accounting systems around this portal from day one.
Three items should be modelled together when calculating employment cost: contributions to the IPRES pension fund at roughly 8.4% employer and 5.6% employee; contributions to the Social Security Fund (CSS) for family benefits at roughly 7%; and the CFCE employer contribution at 3% of gross salaries. These charges remain payable even under free zone regimes that grant other exemptions.
Senegal's treaty network is uneven, so the position should be checked country by country rather than assumed. Türkiye and Senegal signed a treaty in Antalya on 14 November 2015; ratification was approved by Law No. 7466, published in the Official Gazette of 2 November 2023, with entry into force depending on both states notifying completion of their domestic procedures. Germany has no double tax treaty with Senegal, although a bilateral investment protection agreement has been in place since 1964.
After-tax profits and capital may be transferred abroad freely, provided the documentation required under WAEMU foreign exchange rules is in order. Banks typically ask for the tax return covering the relevant period and the shareholder resolution approving the distribution. Withholding tax on dividends, interest and royalties should be modelled before the holding structure is fixed, since restructuring afterwards is expensive.
Law No. 2025-16 replaced the 2004 Investment Code and redesigned the incentive architecture. Rather than listing eligible sectors, the new text works from a list of excluded sectors; it introduces a registration obligation for investments above XOF 15 million and creates two dedicated regimes, one for strategic investments and one for socially responsible investments. Ethics and social responsibility standards now form part of the eligibility conditions for the first time.
Approved companies in the Integrated Special Economic Zones created by Law No. 2017-06 receive a 50% reduction in corporate income tax, bringing the effective rate to 15%. Goods admitted to the zone are exempt from customs duties and no export duties apply on outbound merchandise; exemptions also cover registration fees, employer payroll taxes and property contributions. Land is granted under a 25-year lease, renewable once. The operating zones are Diass (ZESID), Bargny-Sendou, Diamniadio (PIID) and Sandiara (ZESIS).
EFE status, governed by Law No. 2004-06, targets businesses exporting at least 80% of their production. It grants customs and tax advantages but is conditional on maintaining separate accounts, filing periodic activity reports and meeting social security obligations in full. EFE and ZES advantages do not overlap; which regime works better depends on the export ratio, the investment amount and the employment commitment.
Incentive applications should be filed before the investment decision is made. Retroactive requests submitted after operations have started are, in practice, usually refused.
An operating account cannot be opened before registration is complete, and the temporary account used to block share capital is a separate matter. Banks typically require the RCCM extract, the NINEA, notarised articles of association, the manager's identity and residence documents, and proof of the registered office. CBAO, Société Générale Sénégal, Ecobank and Bank of Africa open EUR and USD accounts alongside XOF.
Timelines run from two to four weeks depending on the depth of the compliance review; a multi-layered beneficial ownership structure or shareholders connected to higher-risk jurisdictions will extend it. Groups wanting a multi-currency setup alongside the local account will find the same principles at work in setting up a company and opening a bank account abroad.
Senegal applies no ownership ceiling to foreign investors: 100% foreign ownership is permitted in SARL, SUARL, SA and SAS structures. Regulated sectors — banking, insurance, telecommunications, mining, energy — require prior approval or a licence, and local partnership may arise contractually there.
The manager is not required to be a Senegalese national or resident. The company does, however, need a genuine registered office (siège social) in Senegal, evidenced by a lease or title deed. Virtual office arrangements frequently create friction at the bank account stage, so a physical address is the safer choice.
Nationals of ECOWAS member states may be employed without a work permit. Other nationalities go through an employment contract endorsed by the Labour Inspectorate and the foreign resident card (carte d'identité d'étranger). In the oil and gas sector, local content legislation requires a defined proportion of the workforce to be Senegalese nationals, with the exact threshold negotiated in project agreements.
For investors who do not want to be confined to a single West African market, Senegal works well as a regional base. Those benchmarking against the largest economy in the same bloc can review setting up a company and doing business in Nigeria, while investors weighing a second hub further south can look at setting up a company and doing business in South Africa.
Registration is the start of the process, not the end. Companies keep their books under the SYSCOHADA framework, and records must be maintained in French. Annual financial statements are filed with the commercial registry and the tax administration after the close of the financial year.
SARLs exceeding defined turnover, balance sheet and headcount thresholds, and all public limited companies, must appoint a statutory auditor (commissaire aux comptes). VAT-registered businesses file monthly returns; payroll declarations go periodically to IPRES and the CSS. Where intra-group services, loans or licences exist, transfer pricing documentation is among the first items requested in a tax audit.
On cessation of activity, the liquidation resolution is registered with the commercial registry, tax and social security clearance certificates are obtained and the RCCM entry is struck off — a process considerably longer than incorporation.
Company formation in Senegal moves quickly when four things are right: the entity fits the business, the articles are drafted around the actual activity, the incentive regime is chosen before the investment decision, and the bank compliance file is complete on first submission. World Company Setup manages the whole sequence — entity selection, the APIX dossier, NINEA registration, corporate bank account opening and the post-incorporation accounting setup.
For a cost and timeline assessment specific to your project, request a quote or contact our team directly.
Tax rates, duties and legislative references on this page are compiled from publicly available official sources as at the date of publication. Senegalese fiscal legislation changes with each annual finance law, so the current position should be confirmed with the DGID and APIX before an investment decision is taken.
World Company Setup assists our clients in setting up companies in Senegal.
Through the APIX single window, RCCM registration and the NINEA tax number can be completed within 48 to 72 hours when the file is complete. Adding notary work, capital blocking and IPRES and CSS registrations, a realistic end-to-end timeline is two to four weeks. Apostille of foreign shareholders' documents is the most common cause of delay.
Law No. 2014-20 of 24 March 2014 cut the SARL minimum share capital from XOF 1,000,000 to XOF 100,000 and set the minimum nominal value of a share at XOF 5,000. The full amount need not be paid up at incorporation, although capital in the XOF 1,000,000-5,000,000 range presents a stronger profile to banks and public procurement bodies.
Corporate income tax is 30% and applies equally to companies and branches. Loss-making companies, or those whose computed tax stays low, fall under the minimum tax of 0.5% of the previous year's turnover, capped at XOF 5,000,000. Companies approved in a Special Economic Zone receive a 50% reduction, giving an effective rate of 15%.
The standard VAT rate is 18%, reduced to 10% for accommodation and tourism services. Banking, money transfer and financial intermediation are subject to the 17% financial activities tax instead of VAT. The FY25 Finance Law made electronic invoicing through a public portal mandatory.
Yes. There is no ceiling on foreign ownership in SARL, SUARL, SA and SAS structures and no nationality restriction on shareholders. Regulated sectors such as banking, insurance, telecommunications, mining and energy require prior approval or a licence.
Incorporation can be handled remotely under a power of attorney, which must be notarised and apostilled. Bank account opening is the constraint: most banks ask for a face-to-face or video interview with the manager or the ultimate beneficial owner before activating the account.
The RCCM (Registre du Commerce et du Crédit Mobilier) is the commercial registry entry, and corporate personality begins with it. The NINEA is the taxpayer number held with the tax administration, required to issue invoices, file VAT returns and bid for public contracts. No bank opens an account without an RCCM extract, and no valid invoice can be issued without a NINEA.
No. The manager (gérant) does not have to be a Senegalese national or resident. The company does need a genuine registered office (siège social) in Senegal, evidenced by a lease or title deed; virtual office addresses often create friction at the bank account stage.
Two to four weeks, depending on the depth of the compliance review. Banks require the RCCM extract, the NINEA, notarised articles of association, the manager's identity and residence documents and proof of the registered office. CBAO, Société Générale Sénégal, Ecobank and Bank of Africa open EUR and USD accounts alongside XOF.
Public limited companies (SA) and SARLs exceeding defined turnover, balance sheet and headcount thresholds must appoint a statutory auditor (commissaire aux comptes). All companies keep their books under the SYSCOHADA framework, and accounting records must be maintained in French.
+90 542 381 3868
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