The Central African Republic has no access to the ocean. In this semi-presidential constitutional republic, the president is in charge of the country. French and Sango are the official languages. The CFA Franc of Central Africa is the local currency (XAF). Agriculture is the most important part of the Central African economy. It makes up about half of GDP and employs about four-fifths of the workforce. Diamonds and timber are also important. International (mostly French) capital controls the economy, but since it became independent, the Central African Republic has tried to get money and development funds from other countries, such as Libya, Taiwan, China, Germany, and Japan.
The Commercial Court’s Registry is in charge of adding businesses to the business register. The commercial registry (Registre du Commerce et du Crédit Mobilier, or RCCM) is run by authorized secretaries from the commercial court. The Guichet Unique des Formalités des Entreprises en République Centralafricaine (GUFE-RCA), an autonomous government agency, must receive the essential paperwork for registration. There are the following types of businesses in the Central African Republic:
One-man company with limited liability (SURL), Simplified capital company (SAS), Simplified one-man company (SASU), Economic interest grouping (GIE), and Registered merchant.
Company Registration Procedure in the Central African Republic
Registration of companies in the Central African Republic takes the following processes:
Kick-off capital
Deposit the appropriate beginning capital in a bank and acquire proof of deposit. Two of the bank’s directors must sign the deposit evidence. It is also feasible to deposit the minimal capital with the notary; the notary will deposit the capital with the bank and obtain deposit evidence in one week. XAF 23,600 is the price of this operation.
Residence Certificate
Obtain the municipality’s Residence Certificate. For notarization, the company contract, the criminal record certificate or sworn declaration, and the director’s residence certificate are all filed. XAF1,000 is required for this procedure.
Notarization
For notarization, all acquired documents are filed with a public notary. For notarization, the company contract, the criminal record certificate or sworn declaration, and the director’s residence certificate are all filed. The procedure takes three days and costs 0.5 to 5% of the startup capital.
Business formalization
Formalize your business at Guichet Unique de Formalité des Entreprises. The GUFE permits commercial registry registration. The GUFE completes the sworn declaration (déclaration sur l’honneur). Within 75 days, entrepreneurs must submit a copy of their criminal history. The National Court issues the record directly. The process takes two days and costs XAF 70,000 for one-stop registration, XAF 30,000 for business registry registration, and XOF 3000 per page for stamp fees.
Tax Identification Number
Obtain your tax identification number (numero d’identification fiscale -NIF). The NIF has been obtained at the Direction General des Impots et des Domaines since 2012. It was previously obtained at a one-stop shop. The procedure takes two days and is free of charge.
Registration with the Social Security Administration
Register with the Social Security Administration. Employees must be registered with the Social Security Administration. Employees’ social security enrollment is no longer conducted at the GUFE, but rather at the Social Security offices. The duration of this process is three days.
Formal announcement
A national newspaper must announce the company’s establishment. Every new corporation must advertise its formation in the National newspaper. XAF 70,000 is the price.
Chamber of Commerce
The Chamber of Commerce must then be contacted. For XAF 50,000, all new firms must register with the Chamber of Commerce.
Filing of employment declaration
Notify authorities of employee hire. Following registration, the business must file an employment declaration with the Regional Directorate of Employment. There is no cost for the process.
Business license
Obtain an XAF 10,200 business license (agreement) from the municipality. This operation takes seven days to complete.
