What types of companies in Senegal?

There are 7 types of companies in Senegal. The 4 most common companies are the following: 

• Sole proprietorship

• The limited liability company

• Public limited company

• Economic interest grouping

There are also 3 other less popular corporations: 

• General partnership

• Limited partnership 

• Cooperative society 

Sole proprietorship :

• No minimum capital

• Minimum of one partner

• The liability of each partner is unlimited and extends to the entrepreneur's personal assets

• The company is managed by the entrepreneur

• The company is taxed on profits up to 50 million CFA francs 

 Limited liability company :

The tax rate of the SARL is 30%.

Minimum capital of 100 000 CFA francs 

Statutory auditor required if capital exceeds 10 million CFA francs, if there are more than 50 permanent employees or if annual sales exceed 250 million CFA francs

The partners bear the debts only up to the amount of their contributions

The company is directed by a manager

Limited company : 

• Minimum capital of 10 million CFA 

• 1/4 of the capital is required at the beginning, the rest can be paid over 3 years

• An auditor must be hired

• The partners bear the debts only up to the amount of their contributions

• The company has a general manager

• The limited company pays 30% tax

Economic interest grouping : 

• Minimum of 2 partners

• The company does not require a minimum capital 

• The responsibilities of each partner are limited 

• The company is managed by a President

• An auditor is not mandatory