Senegal

We assist global clients looking to do  business in Senegal with the A to Z of business setup without the need for the client to travel to Senegal . Some of our services include:

Company / Branch registration

Tax registration and obtaining PIN

Regulatory licenses across all sectors

Personal and corporate bank account opening

Accounting and tax support services

Provision of nominee directors and shareholders

Recruitment and employee hiring

Virtual/Physical Office space solutions

Employment and residency visas

The most common corporate structures preferred by foreign investors setting up in Senegal include i) the limited liability company (LLC/SARL) ii) Public limited company(SA) Société anonyme And iii) the branch office. See detailed comparison below:

Advantages and disadvantages of Senegal business setup:

  • Strategic geographical location and good-quality international and regional political relations, allowing privileged access to regional and international markets.
  • Economic stability. Senegal is a member in the West African Economic and Monetary Union (UEMOA) and the CFA franc zone, guaranteeing monetary stability and access to capital with low-interest rates.
  • Competitive production costs
  • Low-cost and skilled workforce. Senegal has a well-educated, multilingual workforce, making it an ideal location for businesses that require skilled employees.
  • Significant offshore natural resources of oil and natural gas
  • A relatively healthy and competitive economy
  • Good business environment. The incorporation process in Senegal is fast and efficient, with the option to incorporate in as little as one day, and straightforward maintenance and reporting requirements without the need for share capital or obtain a building permit online in 40 days.
  • Tax and customs benefits can be granted to companies approved under the special economic zones (SEZ) regime for a maximum of 25 years,
  • There is no legal discrimination against businesses conducted or owned by foreign investors, and there are no barriers to full ownership of businesses by foreign investors in most sectors.
  • Cost-Effective Operations: Operating costs in Senegal are lower, including lower labor and real estate costs.
  • Vulnerability of the economy to climatic hazards and changes in the price of commodities such as regular power outages which can result in the loses to the business
  • Low business productivity and low activity diversity.
  • Infrastructure is still largely underdeveloped, particularly in energy and transport
    • Slow and corrupt administration that does not establish quickly the structural reforms expected by markets

    Bureaucracy, the business environment is still disrupted by a strong government bias towards interventionism, partial and slow justice, and generally weak regulations.

  • Insecurity, Senegal has low security especially on the border with Mali
  • Significant current account deficits
  • Local legislation requires that all domestic transactions be done in local currency (the West African CFA Franc)
  • Language barrier. French is the national language in Senegal and businesses may need to navigate language barriers, especially when dealing with local authorities, regulations, or contracts
  • Before incorporation the government requires all foreign directors to supply an extract of a police clearance report.

Important links:

Company incorporation steps in Senegal :

  1. Name Reservation: Girimba Consulting reserves a unique company name through the Senegal Registry of companies;
  2. Documents Preparation: Our Team prepares the incorporation documents and emails our Client for signatures, notarization and apostillation;
  3. Certificate of Incorporation: Our Team submits an application for company registration with the Registry of Companies office Senegal and obtain a certificate of incorporation;
  4. Personal Tax Number: If the director is a foreign national, our team submits an application for a personal tax number (PIN) with Senegal Tax Authority;
  5. Corporate Tax Number: Our Tax Agent also submits an application to the Tax Authority for the corporate/company PIN (tax number);
  6. Other Registrations: If the Client intends to hire local staff, our Team registers the company with i) Social Security System and ii) PAYE (Pas As You Earn) Scheme;
  7. Bank Account Opening: Girimba Consulting also assists our Client to open a local corporate bank account with a top tier bank in Senegal.

    Seek specific business information:

    Let us know more about your business needs by completing the form below. Our team will get back to you within twenty four hours.

    All information provided to Girimba via this form remains confidential, Girimba shall not sell, share or transfer any details to any authority or third parties except as may be required by law. If you however prefer not to fill up the form, you are welcomed to contact us by email or phone directly.

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    Girimba Consulting conducts business with openness, transperancy and honesty.We respect and uphold our Clients’ confidentiality, we offer quality service at affordable rates. Contact us for professional solutions.

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    Clarence S. Carlos

    Regional Cordinator

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