Benin is a country located in West Africa with its capital in Porto-Novo and seat of government in Cotonou. The Government of Benin encourages foreign investment through initiatives like the Presidential Investment Council established in 2006. There are free trade zones in Cotonou benefiting landlocked neighbors. To incorporate a company in Benin, an incorporation package must be presented to the Chamber of Commerce and Industry's Corporate Formalities Center including choosing a unique company name. The limited liability company, SARL, is a common structure where foreigners can own 100% and requires a minimum of one manager and shareholder with a share capital of 1,000,000 XOF.

1. FACT SHEET
Benin
Benin officially the Republic of Benin, is a country in West Africa. The capital of Benin is Porto-Novo, but the chair of
government is in Cotonou. The Government of Benin (GOB) encourages foreign investment. The Presidential Investment
Council (PIC), established in 2006 to reinforce dialogue between the GOB and investors, aims to fast implementation of
reforms and boost the business environment. Benin made starting a business easier by appointing a representative of the
commercial registry at the one-stop shop for business registration. Benin has taken several initiatives to attract foreign
investment (especially in the electricity generation sector), such as establishing a Presidential Investment Council. The
incorporation package which needs to be presented to Benin's Chamber of Commerce and Industry's (CCIB) Corporate
Formalities Center (CFC) to incorporate a company
Company Incorporation in Benin
1. In Benin, as in all member countries of the Organization for the Harmonization of Business Law in Africa (OHADA), any
company must choose a unique company name before it is registered in the trade register.
2. The limited liability company, in the largest business city and is 100% domestically owned.
3. There are a free trade zones in the port of Cotonou for Benin's landlocked neighbours (Burkina Faso and Niger).
Licensing in Benin:
1. Import goods for commercial purposes must obtain an importer’s permit from the Ministry of Trade, Crafts and Tourism
Accounting and Tax:
1. The corporate income tax rate is 38% for most companies, and 58% for petroleum and mining firms. Those companies
exempt from income tax include agricultural credit unions and mutual associations. If reinvested within 3 years, capital
gains are exempt from tax.
2. Dividends paid to residents and tax law, but it includes companies registered corporate income tax liability is less than
non-residents generally are subject to a 15% in Benin and permanent establishments and XOF 200,000 withholding tax.
This rate is reduced to 10% branches of nonresident corporations.

2. FACT SHEET
Benin
Type:
Limited Liability Company, Société à
Responsabilité Limitée (SARL)
Under Benin law, foreigners can own 100%
Share Capital XOF 1,000,000
Manager Minimum One
Shareholders Minimum One
Memorandum and Articles of Association No
Can the entity hire expatriate staff in Benin Yes
Tax Registration Certificate Required Yes
Statutory audit required Yes
Annual Return Yes
Annual Tax Yes
Access to Benin double tax treaties Yes
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