Reading time – 5 minutes
Edit HxH – Totally forgot to add that an SARL = LLC and SA = S Corp || C Corp
So you’ve got your start-up idea, and you’ve hustled up enough to launch your MVP. Here’s to give you an idea of how to go about incorporating.
Since Google analytics tells me that most of the readers are in the US, Canada, France & Senegal, I’ll go over those. Apologies to Italy & Saudi Arabia I know they have pretty big Senegalese communities but I don’t speak Italian yet and the Saudi website is kinda nebulous.
In Dakar, Senegal
The fastest way to have a comprehensive idea of what you need is to stop by APIX on Rue Mohamed V. It’s by the Palais on the street adjacent to the Caesar’s everyone used to go to as a teenager.
To create an SARL or SA, you will need to stop by a notary. Incidentally, I wouldn’t advise going for any other legal entity unless you’re running a non-profit or a professional association.
If you’re launching an SARL, the fees are between 250 and 400 000 FCFA depending on the capital (whether or not it’s less than 500 000 FCFA) and the complexity of the co’s articles. It costs about 700 000 FCFA for a S.A. Go to Nafissatou Diop Cisse’s cabinet if you can, they are known for their professionalism.
Moreover, you will need:
- 2 copies of your passport or national ID
- 2 fiscal stamps @ 2000 FCFA
- 20 000 FCFA if your company has a commercial name
- 1 residence certificate – bring your “certificat de domicile” to your nearest police station and you’ll get it in 24h
- Your police record – you get that at the Palais de Justice that is by Gare Lat Dior, it costs 200FCFA and you need to bring your national ID or birth certificate
There are other papers to provide but the notary will be the one issuing them or showing you the way.
Note: Don’t make your moves off the info on APIX website, go there in person. There are a few mistakes on the site like the need of an SARL to have a starting capital between 1 and 10 millions XOF.
I have never incorporated a company in France, and probably never will given how they welcomed Uber the week they introduced the French Tech Ticket but hey if you must, I know some folks who had luck using this: http://www.mplidf.fr/
If like me, you hate paying someone to do so something you can figure out with one long phone call to front desk, this is for you:
In the US
Talk to your lawyer before tho, I dropped out of law school haha.