Προφίλ συναλλασσόμενης χώρας Σενεγάλη

Setting up a company | FDI in figures | Why you should choose to invest | Procedures relative to foreign investment | Finding assistance for further information

Setting up a company

Legal business entities

Types of companies and capital (max/min)	Number of partners/shareholders and liability	Maximum and/or minimum capital	Liabilities	Registration fees
Private Limited Company	Minimum 2 partners. Maximum 50 partners.	FCFA 500,000	Liability is limited to the amount contributed.	About FCFA 215,000 on the basis of a company with a FCFA 500,000 capital.
Public limited company	Minimum 7 shareholders.	FCFA 2,000,000	Liability is limited to the amount contributed.	About FCFA 400,000 on the basis of a company with a FCFA 2,000,000 capital.

Business setup procedures

Setting up a company in Senegal is relatively quick and easy. A single information point called the National Agency for the promotion of investment and major projects was set up in 2000. It regroups representatives from each ministry that is involved. Thus, the time for setting up a company has considerably reduced: however one should count between 48 hours and a fortnight.

Private Limited Companies and Public Limited Companies are the two most current corporate forms in Senegal. However, other corporate forms such as general partnership, joint-venture company, do exist but remain rare.

The competent organization

National Agency for the Promotion of Investment and Major Projects (APIX).

FDI in figures

Foreign Direct Investment	2005	2006	2007
FDI of inward flow (millions USD)	44.5884868845	220.319761326	78
FDI inward stock (millions USD)	358.222564326	477.102570126	555.102570126
Performance Index*, ranking on 141 economies	122/141	128/141	120/141
Potential Index**, ranking on 141 economies	116/141	122/141	-
Number of Greenfield investments***	2	5	4
FDI inwards (in % of GFCF****)	1.97715207816	9.110354335	2.65758369701
FDI stock (in % of GDP)	4.16841389151	5.14459992276	4.9905832071

Source:

Note: * The UNCTAD Inward FDI Performance index is based on a ratio of the country's share in global FDI inflows and its share in global GDP. ** The UNCTAD Inward FDI Potential index is based on 12 economic and structural variables such as GDP, foreign trade, FDI, infrastructures, energy use, R&D, education, country risk.*** Green field investments are a form of foreign direct investment where a parent company starts a new venture in a foreign country by constructing new operational facilities from the ground up. **** Gross fixed capital formation (GFCF) measures the value of additions to fixed assets purchased by business, government and households less disposals of fixed assets sold off or scrapped.

Why you should choose to invest Senegal

Strong points: The country's main strong points are:
- A strategic geographical position;
- Competitive production costs;
- A cheap and skilled labor force;
- A healthy and competitive economy;
- A reformed legal and taxation framework; and
- Privileged access to regional and international markets.
Weak points: The country's main weaknesses are:
- The poor and bad condition of the infrastructures;
- A slow and corrupt administration;
- Security;
- Low company productivity; and
- Low diversity of activities.
Government measures to motivate or restrict FDI: The Senegalese government has put into place various incentive measures for investments. Below are some of these measures:
- Increased protection for investments;
- Defining priority sectors for investment;
- Delivering license certificates in 10 days; and
- Respect of the rules of the Environmental Code (document in French).
For more information, Agency for the promotion of investment in Senegal website.

Procedures relative to foreign investment

Freedom of establishment: There is a great amount of freedom of investing in Senegal in all the sectors: agribusiness, textiles, new technologies, fisheries, tourism mining. Foreign companies and investors have the same possibilities.
Acquisition of holdings: Foreigners can have a 100% stake in a company.
Obligation to declare: The World Association of Investment Promotion Agencies (WAIPA) in the country gives information on the authorizations required for setting up an establishment.
Competent organization for the declaration: Agency for promotion of investments in Senegal
Requests for specific authorizations: Specific authorizations required in the country can be consulted at the Agency for the promotion of foreign investments.

Finding assistance for further information

Investment aid agency: Agency for the promotion of investment in Senegal
Other useful resources: Information on investments on the Senegalese Government website

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