Registering a business in a foreign land can be a hectic procedure. You’re principally moving into a terrain that you know veritably little about and there are all the business challenges that you would obviously face and on top of that a lot of likely legal hoops which you would need to jump through in order to be duly set up as a new business. Starting a business, or corporation, in Niger takes roughly 17 days as compared to about 46 days for the Sub-Saharan Africa region. This article outlines the general specialized procedures for starting a company in Niger, according to the Doing business.org database by the World Bank. It includes details and conditions to be in good standing with all applicable agencies beyond the corporation register like social security agencies.
The procedure involved in registering a company
You might have to deal with any of the cofounders, or board members that you’ll appoint for your Niger company. Every board member and shareholder will have to give full cooperation in the corporate formation process. This means they will need to give their passport duplicate and evidence of address and have to get verified in person ( video call) or need to give official documents of their information.
Company development in Niger can be done by a single person. Even if that person isn’t a citizen. In case the share capital is below EUR15,000, then the company is a private limited one.
Have a notary prepare and endorse the company rules
Niger notary won’t really be involved in the corporate formation process.
The notary public will witness the signing of the rules and present the documents for enrolment. A document entitled a notarized protestation of capital subscription and payment” is also annexed to the statutes.
Under Article 313 of the Uniform Act (the company law of the Organization for the Adjustment of Business Law in Africa), creators needed to deposit the launch-up capital in a bank or with a notary.
Register company bills
A limited liability company’s deed has roughly six sheets (if it’s completed on both sides); at least four originals are demanded (for the notary public, for the services of the recording, and for the interested party).
The financial stamps are sold at the Services of the Levies and the Treasury. fixed enrolment fees and Train documents with the Commercial Registry at the Greffe du Tribunal (RCCM). According to the Organization for the Adjustment of Business Law in Africa, the company has to approve the openness of the corporation name, which is done at the clerk’s office at the court in the first case holding marketable governance over the company. However, it has the obligation to make sure that the name doesn’t live — through a search for anteriority (recherche d’antériorité) If an establishment doesn’t reserve its name.
To avoid useless expenditure (the necrology with the Registry of Commerce is done after recording), it’s recommended to do the name search before the signature to the bills. Still, grounded on an indirect letter of March 13, 2006, name verification is no longer needed for company enrollment at the clerk’s office.
Publish the company formation notice
Within a range of two weeks of registering the corporation, it should publish a notice in the Journal D’annonces légales de la Chambre de Commerce. A document is issued at the time of receipt of the text and is published the following month.
Register with the duty authorities’ representatives
After enrollment, the corporation can register at the CFE for levies to gain the identification number (NIF), register for social security (CNSS), and register with the employment agency (ANPE).
The fees are as follows:
- FCFA for the CNSS.
- FCFA for the ANPE.
- FCFA to gain the NIF.
- FCFA for the financial stamp needed to gain the NIF.
In 1 week to 10 days roughly, the entrepreneur will be registered with all the agencies and get the NIF number.
Best megacity in Niger for Company formation
The most popular megacity for corporation registration in Niger is Niamey. Niamey is Niger’s business mecca, and numerous types of companies feel that it makes the most sense to start a company in the profitable capital megacity, which also attracts the topmost number of travelers. Hence, Niamey is popular for company formation by industrialists and traders. Niamey has a great ecosystem.
