Starting a Business in Congo Republic : Guide
Formal registration of companies has many immediate benefits for the companies and for business owners and employees. Legal entities can outlive their founders. Resources are pooled as several shareholders join forces to start a company. Formally registered companies have access to services and institutions from courts to banks as well as to new markets. And their employees can benefit from protections provided by the law. An additional benefit comes with limited liability companies. These limit the financial liability of company owners to their investments, so personal assets of the owners are not put at risk. Where governments make registration easy, more entrepreneurs start businesses in the formal sector, creating more good jobs and generating more revenue for the government.
Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Congo Republic. It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income.
This information was collected from World Bank: Doing Business
| No. | Procedure | Time to Complete | Associated Costs |
|---|---|---|---|
| 1 | Deposit the legally required capital in a bank and obtain the deposit evidence. | 1 day | no charge |
| 2 | Draft and notarize the articles of association with the public notary | 3 days | XAF for 300,000 notary fees + XAF 12,000 for stamps |
| 3 | Register articles of association with tax authorities | 2 days | XAF 10,000 fixed fee + XAF 1,300 stamp duty per page |
| 4 | Obtain extracts of criminal record of the company manager | 1 day | XAF 2,000 |
| 5 | Register articles of association with the commercial registrar at the Clerk’s Office of the Court | 1 days | included in procedure 6 |
| 6 | Register with the Centre des Formalités des Entreprises | 90 days | XAF 300,000 |
| 7 | Register with the tax authorities | 30 days | included in procedure 6 |
| 8 | Publish the notice of company formation in a legal journal | 4 days | XAF 50,000 |
| * 9 | Notify the Ministry of Labor (ONEMO) of the start of operations | 2 days (simultaneous with procedure 8) | no charge |
| * 10 | Register with the Regional Direction of Labor | 1 day (simultaneous with procedure 8) | no charge |
| * 11 | Register with the Social Security Authorities | 30 days (simultaneous with procedure 8) | no charge |
