Deposit subscribed capital in a bank
Agency: Bank or any other credit or micro-credit establishment
Business founders must deposit their startup capital at a bank.
Time and cost: 1 day on average, no charge
Have a notary public notarize the declaration of capital subscription and deposit the two acts with the notary office
Agency: Notary
Proof of capital deposit is required.
Since 2014, the use of notaries is no longer required (Decree N 2014-462/PRES/PM/MJ/MICA). However, most entrepreneurs still use their services.
Time and cost: 3 days, 3 % of declared capital
Register at Centre des Formalités des Entreprises (CEFORE) for company registration, tax number (IFU), labor, and social security
Agency: CEFORE
By Decree No. 2005-332/PRES/PM/MCPEA/MFB/MTEJ of June 21, 2005, the Center for Business Formalities (CEFORE) was created and became operational in Ouagadougou. A single application form must be submitted to complete company registration with the Trade Register and Personal Credit (RCCM), to obtain the fiscal identification (or identifiant financier unique, IFU, at the Direction Générale des Impots) and the professional license (carte professionnelle de commerçant, at the Ministry of Commerce). After the form is submitted, CEFORE organizes the registration with the court and other authorities. Companies are assigned a unique company identification number for company registration, fiscal identification, and social security affiliation.
The official time for the completion of the registration process in this procedure is 7 working days. Because CEFORE forwards the documents to the respective agencies, however, in practice the delay is longer.
On May 23, 2007, the Minister of Labor and Social Security, the Minister of Commerce, and the Minister of Employment signed a decree that the required declarations must be filed with CEFORE. CEFORE then transfers the relevant information to Caisse Nationale de Sécurité Sociale (CNSS), which has the mandate to disseminate that information to the National Agency of Employment Promotion (ANPE) and the Labor Inspectorate.
Registration fees are XOF 47,500 as follows: XOF 12,500 (RCCM) + XOF 7,500 (IFU) + XOF 5,000 (CNSS) + XOF 7,500 (CEFORE) + XOF 5,000 (Court registration) + XOF 10,000 (fee for publication) + XOF 3000 (seal affix)
The sworn declaration (declaration sur l’honneur), instead of a copy of the criminal records of the manager is provided with the registration application. The entrepreneur will need to send a copy of her/his criminal record within 2 months.
On July 2015 the CEFORE has launched an e-registration process for business registration called “Systeme Integre des Guichets Uniques, SIGU” (www.sigu.gov.bf). Entrepreneurs have the possibility of registering via the online portal, but in practice they are still registering over the counter at the CEFORE office.
Time and cost: 9 days, see procedure details
