Formation of Companies Flashcards
What are the steps required for the formation of a company under OHADA?
-> The founders of the company shall first appoint a company lawyer who shall write to a commercial bank to request an account be created for the company information
-> The founders of the company shall deposit the capital for the company into the account and obtain a receipt
-> The founders shall then request the services of a public notary to draw up articles of association for the company
-> After the above steps the founders shall deposit an application for the incorporation of the company at the TPPCR along with the set of required documents
-> Once the company is granted incorporation the founders shall then have the news of this incorporation published in the newspapers competent to publish legal notices
-> The company shall then apply for a tax exemption period of two years, within which the company still has to declare its business activities
-> Once the tax exemption is obtained the company shall apply for a taxpayer card from the competent taxation center
-> Finally once the company obtains its taxpayer card, it shall then register its employees with the CNPS or Social Insurance Fund, so that employees can benefit from social security or pension
What documents are required for the registration/formation of a company?
-> 2 certified copies of the company’s articles of association
-> 2 certified copies of the certificates of payment of shares
-> 2 certified true copies of the list of shareholders, managers, and directors
-> 2 copies of the certificates of non-conviction of shareholders, managers, and directors
-> An Authorization to operate the business
