Legal and Compliance
In Burkina Faso, the responsibility of legal compliance is not a one-time affair, but a continuous process. Below is the various Burkina Faso legal and compliance requirement to be followed by incorporated entities:
· To Register at Centre des Formalités des Entreprises (CEFORE) for company registration, tax number (IFU), labor, and social security
· Listed entities must comply with regulations issued by the regional stock exchange, Bourse Régionale des Valeurs Mobilières.
· Insurance companies are required to apply accounting standards outlined in the Conférence Interafricaine des Marchés d’Assurance
· The entities to pay an apprenticeship tax (TPA) on the salaries of all national and foreign employees
· The companies must pay a registration tax equal to 3 percent of the company’s capital
· The legal, regulatory, and accounting systems are transparent and consistent with international norms that needs to be adhered by the Companies
· The companies need to comply with the legal system that protects and facilitates acquisition and disposition of all property rights, including intellectual property.
· The mining companies to invest in social infrastructure, such as health centers and schools, and other projects to benefit the local populations
YourGlobalPro professionals can assist you with Burkina Faso Legal and Compliance requirements.
HR and Employment Law and Immigration / VISA
In Burkina Faso, the applicable labor regulations would apply to the entrepreneurs wishing to hire workers. Below are some of the important points in relation to HR & employment law in Burkina Faso:
· The Burkinabè labor code is enforced by a labor court
· Unions are well organized and defend employee interests in industrial disputes
· When non-nationals are hired, the Director of Labor authorizes their employment contract -and statements must be made to the Regional Inspector of Work and Social Rules before the startup of any new enterprise
· The employer must advise employees of termination at least 30 days in advance
· Visa are required by all nationals except those of the Economic Community of West African states
· Maximum length of a single fixed-term contract is 24 months
· Maximum number of working days per week 6.
· 22 days Paid annual leave for a worker with 1 year of tenure (working days).
· Maximum length of probationary period is 2 months.
· Minimum length of maternity leave is 98 calendar days.
· Five fully paid days of sick leave a year.