Madagascar

Company Formation in Madagascar

1. Country Overview

Madagascar, the world’s fourth-largest island, offers strategic access to African and Asian markets through its Indian Ocean ports. The country is rich in natural resources, has a young and cost-effective workforce, and is a member of COMESA and SADC. In recent years, the government has made starting a business easier through digital registration and investment incentives for export-oriented industries.

Advantages and disadvantages of Incorporating in Madagascar:

  1. 100% foreign ownership permitted in most sectors.
  2. Low labor costs and availability of skilled workers.
  3. Strategic geographic location connecting Africa and Asia.
  4. Free-trade zone incentives for export industries.
  5. Growing demand in agriculture, tourism, and manufacturing.
  1. Limited infrastructure outside major cities.
  2. Bureaucracy in permit and land acquisition.
  3. French-language legal system requires translation.

Step-by-Step SARL Registration in Madagascar

  1. Reserve company name at the Economic Development Board of Madagascar (EDBM).
  2. Draft and notarize Articles of Association.
  3. Deposit minimum share capital (no statutory minimum for SARL).
  4. Register with the Commercial Registry (RCS).
  5. Obtain Tax Identification Number (TIN).
  6. Register with CNAPS (social security).
  7. Open a corporate bank account.
  8. Apply for business license and operational permits.

Estimated timelines:

Company incorporation: 8–16 weeks (often longer if sector permits are required).
Bank account opening: 6–12 weeks (KYC and corporate structure checks are strict).

Estimated timelines:

Company incorporation: 6–10 weeks.
Bank account opening: 4–8 weeks.

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    Clarence S. Carlos

    Regional Cordinator

    Clarence is our regional cordinator and head of business setup secretariat.

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