Legal and Compliance
In Mali, the responsibility of legal compliance is not a one-time affair, but a continuous process. Below is the various Mali legal and compliance requirement to be followed by incorporated entities:
· A minimum share capital of $11,000 is required for Limited Liability Company (LLC).
· A minimum share capital of $22,000 is required for Public Limited Company.
· The initial capital must be deposited to the bank or directly to a notary public.
· A notarized certificate of no criminal records for incorporators is required.
· There are no restrictions for the nationalities of the incorporators.
· Representative offices are not allowed to conduct direct sales in Mali
YourGlobalPro professionals can assist you in the Mali Legal and Compliance requirements.
HR and Employment Law and Immigration / VISA
Below are some of the important points in relation to HR and Employment Law in Mali:
· Labor contracts must be expressed in writing. Labor contracts include fixed term contracts, indeterminate length of work contract and trial period contracts.
· The maximum length of a single fixed-term contract is 2 years. Furthermore, the maximum length of fixed-term contracts including renewals is 6 years.
· The Company needs to offer 10% of hourly pay for overnight rate.
· Paid annual leave is 22 days regardless of tenure.
· Entry visas are required to enter the national territory of Mali. The entry visas are valid for 90 days and renewable once.
· Temporary stay authorization is needed to stay country. Stay visas are valid for one year and can only be granted after entry. Stay visas do not permit foreigners to exercise any professional activity.
· Resident cards are required for those who will be working in Mali. This is valid for five years and is renewable.