Mauritania is a North African country. Because the majority of the country’s land is covered by the Sahara desert, the majority of the population lives in the south. Nouakchott, the capital, is located on the Atlantic coast. The official language is Arabic, however, French is commonly spoken. The Mauritanian ouguiya (MRU)is the currency used.
Mauritania has a favorable business climate with several changes that can be exploited both locally and globally.
If you want to create a business in Mauritania, this article will walk you through the process and provide you with an overview of the registration process in this African country.
Business entities
If you wish to start a business in Mauritania, you must first determine which sort of business entity is best for you, the available entities are explained below
LLC (SARL)
In Mauritania, you can form a limited liability company (LLC) by appointing at least two directors and two shareholders of any nationality. 3 500 USD is the minimum paid share capital. SARL is obligated to hire an auditor and file annual financial reports.
PLC (SA)
The share capital of $17,000, as well as two shareholders and two directors, are necessary to form a PLC in Mauritania.
Sole Proprietorship
A sole proprietor is someone who runs a commercial enterprise in their name and under their responsibilities. The owner is responsible for all of their assets, and their liability is unrestricted.
There is no distinction between legal and natural persons. Because of its basic form and straightforward registration procedure, this business type is frequently used by small firms.
The company is also adaptive to its changing surroundings, and choices and adjustments may be made quickly. This type of business is known as a sole trader in some countries.
The registration procedure
In Mauritania, business registration is handled through the Single Window (Guichet Unique), which is part of the Ministry of Economy and Finances. It combines all of the necessary procedures into a single form.
Requirements for registration
You must submit the application form to the one-stop-shop reception desk to register a business. Ilot B 71 E-Nord Tevragh Zeina Nouakchott is the office address. The application form will include, among other things, the following information:
- Business name
- Name of the owner
- The legal form of a business
- The amount of capital
- The date of extinction
- Certified copies of your identification documents should be included with your request (ID card, passport, etc.).
- The registration cost should be paid to the Public Treasury official present at the office.
Your request will be processed, and you will receive a registration certificate within 48 hours if everything is in order.
You must now register your business for tax purposes after receiving your certificate.
General requirements
Registration steps
If you want to start a business in Mauritania, make sure you complete these steps:
- Provide the bank with the legally required beginning capital and receive a certificate of deposit
- Work with a notary to draft and certify a business activity and a Memorandum
- File the articles of incorporation
- File a business registration with the Commercial Register Office (Greffe du Tribunal de Commerce)
- Get a fiscal number by registering with the tax agency.
- Register with the Caisse Nationale de Sécurité Sociale for Social Security.
In addition, if you want to create a business in Mauritania, you must first obtain approval from the Ministry of Labor.
Tax requirements
The Ministry of Finance’s General Management of Taxes is in charge of taxing. The tax registration is completed in the Nouakchott Ministry office. Bring your certificate and identity documents with you.
In Mauritania, personal income tax is determined at the following progressive rates:
- 15 percent increase in MRU from 6,000 to 9,000
- 25 percent between MRU 9,000 and 21,000
- MRU 21,000 and above is 40%.
Residents’ worldwide earnings are taxable. Mauritania will not tax foreign income that has been taxed in another country. Non-residents are taxed on their Mauritania earnings.
The VAT rate on most economic activity is 16 percent.
