Investment Outlook After a number of years of political instability, Côte d’Ivoire has seen strong growth (estimated at 9% for the past three years) and is determined to develop its business climate to make it more attractive to foreign direct investment. The incumbent president, Alassane Ouattara, has already spent billions of dollars on improving infrastructure in the country to promote and encourage development. The Ministry for Infrastructure is heading the ‘route networks project’, which has already built over 200 miles of new roads in the country. As Côte d’Ivoire’s economy is primarily based upon agriculture, specifically cocoa, it has weathered the overall downturn in demand from China as well as the recent fall in oil prices which has struck many African nations hard. In addition to this, the pegging of the CFA to the Euro has meant that Côte d’Ivoire has avoided currency depreciations that have blighted other well- performing countries in Africa, with inflation currently at around 1%. Following political and economic stability, the African Development Bank has returned to Côte d’Ivoire to re-establish its headquarters in Abidjan, the capital. The prospects for Côte d’Ivoire look good, with a clear path to development and to attain ‘Emerging Nation’ status by 2020. Forms of Corporate Structure The types of entities used for business purposes in Côte d’Ivoire are a branch of a company, a Liaison Office, a general partnership, a limited partnership, a limited liability company, a limited company and a simplified joint-stock company. However, a limited liability company and a limited company are the most used forms of business by investors. • A Branch of a Company (Succursale) A branch is useful to explore the market and render services locally and has some management autonomy. To establish a branch of a company in Côte d’Ivoire, the foreign investor should provide the articles of incorporation of the parent company translated into French (if necessary). Within two years of its establishment, a branch must be transformed into a registered company, unless it is expressly exempted by a decree issued by the Minister of Commerce.
• A Liaison Office or Bureau de Liaison A liaison office is similar to a branch in that can also be used to explore market but cannot render services locally. It also does not have management autonomy. To establish a Liaison Office, the articles of incorporation of the parent company translated into French (if necessary) are required. A Liaison Office does not need to be transformed into a registered company within two years of its establishment unless converted to a Branch. • A General Partnership (Société en Nom Collectif) (SNC) An SNC is registered at the corporate registry upon presentation of its articles of association. The incorporation process is completed by the publication of a notice of incorporation in a legal gazette. No minimum capital is required for an SNC. • A Limited Partnership (Société à Comandite Simple) (SCS) An SCS is registered at the corporate registry upon presentation of its articles of association, proof of the subscription and payment for its shares, and the administrative documents relating to the general partners and limited partners. The incorporation process is completed by publication of a notice of incorporation in a legal gazette. No minimum capital is required to form an SCS. • A Limited Liability Company (Société à Responsabilité Limitée) (SARL) The formalities for the creation of the limited liability company have been greatly simplified since April 2014 in order to attract investors. A SARL is registered at the corporate registry upon presentation of its articles of association, proof of the subscription and payment for its shares, and the administrative documents relating to the members. The incorporation process is completed by publication of a notice of incorporation in a legal gazette. No minimum capital is required to form a SARL. In accordance with OHADA community requirements, however, a minimum share capital of 5,000 FCFA (7,60 euros) remains in place;
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