Niger

Company Formation in Niger

Niger is a good destination to set-up your company to cater to the fast growing African market with a large population. YourGlobalPro can assist in Niger for Company Formation, Secretarial Compliance, Tax Registration, VAT Reclaim, Document Retrieval and Trademark Registration.

About the Country

Republic of the Niger (Niger) is a landlocked country in Western Africa.  The country is named after the Niger River, which is the primary river of the Western Africa. Niger is the largest country among West African nations and 80% of its land area is covered by the Sahara Desert. The below content will explain you in detail about the requirements for the company formation in Niger, know more about the Process of trademark registration in Niger and understand the Niger Legal and Compliance requirements.

Niger

Doing Business Introduction

Niger’s economy revolves around subsistence and the export of agriculture and raw materials, specifically uranium ore. The export of uranium provides 72% of export revenue.  Substantial deposits of phosphates, coal, iron, limestone, and gypsum have also been found in Niger. The country shares a common currency and a common central bank with seven other members of the West African Monetary Union. Niger is also a member of the Organization for the Harmonization of Business Law in Africa (OHADA).  As per Doing business report of The World Bank –Niger ranks 150 for 2017 survey in terms of ease of doing business.

 

YourGlobalPro professionals can assist its client with any type of company formation in Niger, trademark registration in Niger and other recurring services for your business in Niger.

Incorporation - Types of Business Entities

Before starting the business, the first decisions to make is to determine what form of business entity to establish. There are several types of entities that can be incorporated in Niger are as mentioned below:

·       Limited Liability Company (Societe a Responsabilite Limitee – SARL)

·       Public Limited Company (Societe Anonyme – SA)

·       Branch Offices (Succursale)

 

Time Frame for Incorporation of Company in Niger varies from depending on the type of entity selected and each business type has its own advantages and disadvantages. YourGlobalPro professionals estimate the time required for Niger Company formation process to be completed is 10-12 working days.

Benefits of Registration of a Company

Below are the advantages of company formation in Niger:

·       Total foreign ownership is promoted except for energy, mineral resources, and sectors reserved for national security.

·       Large privatization program spearheaded by the Niger’s government

·       Membership with the African Financial Community (CFA) and the Economic Community of West African States (ECOWAS) allows a foreign exchange system that is free from restrictions on payments and transfers

·       Industrial investments can be given tax and custom exemptions

·       Niger has vast unexplored natural resources including uranium, oil and gold.

 

·       Set-up and operational cost is low.

Tax Registration and Filing

Below are some crucial points in relation to taxation rates in Niger:

Corporate Income Tax Rate 30%
Capital Gains Tax on Real Estate 15%
Branch Profits Tax Rate 30%
Dividends 10%
Interest 20%
Royalties 16%
Technical Fees and Management Fees 16%
Value Added Tax 19%
Fiscal Year 1 January to 31 December
Filing Annual Tax Returns To be filed on the 30th April

Double Tax Treaty

Double Tax Agreements (DTA) regulates the tax treatment of income or capital gains in situations where the same taxpayer is taxed twice in two countries for the same subject. Niger has double tax treaty agreements with France. As part of the West African Economic Monetary Union (UEMOA), Niger has tax treaties with Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Senegal and Togo.

Trademark registration

Niger is part of African Intellectual Property Organization (OAPI).  The organization covers most of African French speaking countries with the goal of fostering cooperation between member-states and the sharing of common objectives in Intellectual Property matters. The most distinctive characteristic and advantage of OAPI is that a single trademark registration is automatically effective in all its member-states, without the possibility of designating only some countries.  In Niger, trademark Registration is valid 10 years from the date of filing trademark and is renewable for similar periods of 10 years.  It takes approximately 9-12 months from first filing to registration.

 

YourGlobalPro professionals are fully equipped to assist you with the trade mark registration process for your business in Niger. For assistance or advice in the matter of the trade mark registration or intellectual property – please feel free to write or contact us.

Secretarial Compliance

Below are some of the important points in relation to Company Secretarial Compliance in Niger:

·       Articles of Association must be notarized, further the articles must contain the following information: Company form Company name Company objectives Registered office Names of contributors and amount of contributions Number and value of shares issued in exchange for the contribution received

·       In private limited companies, a partner’s number of votes is equivalent to the shares owned. A unanimous decision is required in cases of increases in commitment of partners or transformation of the company.

·       In public limited companies, an extraordinary general meeting shall alone authorize an amendment to the articles of association, mergers, transformations to the company, transfer of office, winding up of company operations or extend the life of the company.

·       Ordinary general meetings authorize other activities not reserved under an extraordinary meeting.

·       Public limited companies with no more than 3 shareholders are not allowed to establish a board of directors, rather a managing director may be appointed for overseeing the company.

 

·       Dissolution of the company must be published first in the Trade and Personal Property Credit Register before it can take effect on third parties.

Accounting Services

As part of the Organization for the Harmonization of Business Law in Africa, books of accounts of entities in Niger must be maintained in French.

 

YourGlobalPro professionals can assist you with the entire bookkeeping and accounting services for your Niger Business Set up as per your business needs including implementation of financial accounting software, accounting records preparation and time to time preparation of budgets, forecasts.

Auditing service

In Niger, all types of business are required to have an annual statutory audit.  An approved auditor is required for limited liability companies and public limited company.  Audited financial statements are required for tax filing purposes.

 

YourGlobalPro professionals provide you auditing services as required by your business in Niger.

Banking

Opening an account in a bank is quite easy in Niger. The documentation requirement differs from Bank to Bank and need to be complied for the Bank account opening.

The major banks in Niger are Central Bank of the West African States (BCEAO), BIA Niger, Bank of Africa, Ecobank and Banque Islamique du Niger. All banks are stable, reliable and offer the same level of services.

 

YourGlobalPro professionals facilitates all the paper work in relation to banking need and can assist you in opening bank account for your business plan in Niger.

Legal and Compliance

In Niger, the responsibility of legal compliance is not a one-time affair, but a continuous process. Below is the various Niger legal and compliance requirement to be followed by incorporated entities:

·       Limited liability companies must have at least 1 director and 1 shareholder of any nationality. The minimum required capital is CFA 1,000,000.

·       Public limited companies should have at least 1 director and 3 shareholders of any nationality. The minimum required capital is CFA 10,000,000. The capital must be paid in full before the incorporation.

·       Scope of branch offices is defined by the Parent company. Branches must have a registered office in Niger.

 

YourGlobalPro can assist you on Legal and Compliance requirements.

HR and Employment Law and Immigration / VISA

Below are some of the important points in relation to HR & employment law in Niger:

·       Maximum length of single fixed term contract including renewals is 2 years.

·       Maximum length of renewable fixed term contract including renewals is 4 years.

·       Employers must pay a premium of 10% of hourly pay for overtime work

·       Paid annual leaves regardless of tenure is 22 days.

·       Nationals of Benin, Burkina Faso, Cape Verde, Chad, Côte d’Ivoire, the Gambia, Ghana, Guinea, Guinea-Bissau, Hong Kong, Liberia, Mali, Mauritania, Morocco, Nigeria, Senegal, Sierra Leone, Togo and Tunisia may enter Niger visa-free.

·       All the visa types require the applicant to have a passport with at least six months of validity, application form and an international vaccination certificate (yellow fever and cholera). Tourist and business visa also require a return trip ticket.

 

·       Working visa is required for expatriates seeking employment in Niger. Required documents include passport and letter from thee company employing the expat. Furthermore, a sponsorship is required in a form of labor contract or letter of invitation from the company.

Country Statistics

Capital Niamey
Largest city Niamey
Total Area 1,267,000 Sq. Km.
Population 18,638,600
Density 12.1 / Sq. Km.
Currency West African Franc
Government Unitary Semi-Presidential Constitutional Republic
Official Language French
Religion Islam: 80%
Christianity and Animism:20%
Government Office Hours Mon-Fri (0800-1800 Hrs)
Business office Hours Mon-Fri (0800-1230 and 1500-18:30) Sat: (800-1230)
Bank Hours Mon-Thurs (0800-1700 Hrs) Fri: (0800-1300 Hrs)

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