Mali (full name is the Republic of Mali) is a West African country that borders on countries such as Guinea, Mauritania, Senegal, Algeria, Niger, Burkina Faso, and Côte d’Ivoire. The official languages are French and Bamana. The country is divided into eight regions and the administrative unit of Bamako. Currency: CFA franc. Large exporter of cotton. Ranked 3 in Africa in gold mining. If you are looking for a way to enter new markets and are interested in the African region, then there is an opportunity to register a company in Mali.
Mali, along with seven other francophone countries in West Africa, is a member of the West African Economic and Monetary Union (Union Économique et Monétaire Ouest Africaine).
The most important export items are gold, cotton, and live animals, while imports mainly consist of machinery, household appliances, transport equipment, and foodstuffs. Mali’s main trading partners are China and other Asian countries, neighboring countries, South Africa and France. Mali is a member of the Economic Community of the West African States, a body covering most of the states in West Africa that seek to integrate and harmonize the economic interests of the region. Despite strict customs controls, smuggling, especially of cattle and fish, is significant, especially in neighboring countries such as Mauritania and Côte d’Ivoire.
Services, labor, and taxation in Mali
Mali contains many historical landmarks such as Timbuktu and Jenne. Although the transport infrastructure requires further development, improvement in the expansion of the hotel and infrastructures took place before Mali hosted the 2002 Africa Cup of Nations football (soccer) tournament.
Most of the workforce in Mali is concentrated in agriculture, with women doing a significant proportion of the work. Employees in Mali are guaranteed the right to form or join trade unions, and there are several such organizations in the country, including the Union Nationale des Travailleurs du Mali. Government revenues come from taxes on net income and profits, wages, property, goods and services, and international trade.
What you need to register a company in Mali
If you intend to register a business in this jurisdiction, seek professional help from our specialists. YB Case provides consulting and accompanying services at all stages of company registration in Africa. The most popular forms of business are the registration of SARL in Mali and the registration of SA in Mali.
1. SARL – suitable for small and medium businesses
It is an analog of LLC.
Can be created by 1 or more natural or legal persons.
Minimum share capital: USD 11,000.
The company must be managed by an individual who is determined by the collective meeting of shareholders.
Fully foreign ownership allowed.
Financial statements (annually): required.
Audit: not required.
Corporate tax rate: 30%.
Registration period: 4 weeks.
2. SA – can be operated by one person
No residency restrictions.
Share capital: USD 22,000 minimum.
Registration period: 6 weeks.
Fully foreign ownership allowed.
Financial statements (annually): required.
Audit: required.
Corporate tax rate: 30%.
Preliminary list of documents for registering a company in Mali
- The beneficiary’s documents confirm the identity and place of residence.
- A document that confirms the absence of a criminal record (2 certificates).
- Description of the business.
- Business license.
After payment of state fees, all documents are submitted to the “Single Window” service. An identification number will be issued to the beneficiaries. In addition, they will be registered with pension and social funds.
Reporting conditions
It is necessary to maintain and submit an accounting report annually.
- Audit (SARL) – not required.
- Audit (SA) – Required.
