For those who want to expand their business, as well as those who are interested in a profitable investment project, registering a company in Congo will be a profitable solution.
Congo is the former colonial possession of the French Republic, and today it is an independent state located in the central part of Africa and washed by the waters of the Atlantic Ocean (in the west).
Among the closest neighbors: CAR, DR Congo, Cameroon, Angola, and Gabon.
Key industries are mining (oil, gas, lead, copper, precious metals, and stones), cement, sugar, tobacco, forestry, agriculture, and food processing (coffee, palm oil, peanuts, beer, and drinks).
The capital is Brazzaville. The largest city is Loango. Loubomo, Pointe Noire. The state currency is the Central African franc (XAF). Official languages: Lingala, Kituba, and French. The population of the country is more than 5 million people. The climate is equatorial/subequatorial.
Participation in international organizations: ACP, IOCL, Group of 77, ICRC, African Development Bank, African Union, and others.
Congo’s Business Benefits
For those who plan to register a company in the Congo remotely, we present a list of the key advantages that await them when creating a business in this jurisdiction:
- Geographically advantageous location;
- Fruitful trade with India, China, Italy, and France;
- Smooth development of the economy;
- More than 4 double taxation treaties;
- Available labor resources;
- The interest of local authorities in attracting foreign capital;
- Good conditions for the development of all types of business;
- Availability of 4 free economic zones;
- Lack of currency control;
- Flexible tax regime.
For those wishing to open a company in Congo, we recommend choosing one of the following business areas that are considered the most promising in 2021: light industry, medicine, education, IT technologies, communications and communications, transport, food processing, and tourism.
Congo Opportunities
If you want to open a business in an African jurisdiction, in particular, register a company in the Congo remotely, then first you need to choose a suitable organizational and legal form, such as:
- Limited Liability Company (LLC);
- Free Zone Company (SEZC);
- Mining Company (MC);
- Mobile Communications Company (MSC);
- Representative Office (RO).
We draw your attention to the fact that most often foreign entrepreneurs wishing to register a company in Congo prefer such a form of economic activity as a free zone company (SEZC), which is subject to a simplified tax regime.
Business registration conditions
If you are interested in registering a company in Congo, then carefully study the following list of requirements of the local Regulator:
The unique name of the enterprise (the selected OPF is indicated at the end);
The allowable number of directors: from 1 or more (legal entities/individuals, resident);
The allowable number of shareholders: from 1 or more (legal entities/individuals);
The presence of a secretary: not required;
The authorized capital of the company: 1 USD;
Registered office: required;
Having an open bank account: yes;
Annual filing of reports: yes.
Taxes in Congo
Before opening a company in Congo, you will also need to thoroughly study the specifics of taxation for legal entities. In Congo, you will need to pay the following taxes:
The general income tax rate is 30%. Mobile phone companies pay tax at a rate of 35%. Free zone companies are exempt from paying tax for 6 years (after the expiration of the period from 7 to 10 years of work – 5%, from 10 and further – 15%);
VAT is 18% (the rate for mobile companies is 16%);
Dividend and interest tax – 20%.
Registration of a company in Congo in a special economic zone implies a tax exemption for 6 years, in the next 7-10 years the tax is 5%, then 15%.
The manufacturing industry consists of small enterprises that process food and minerals, and produce textiles, footwear, and cigarettes. The most common legal form in which investors decide to register a company in Congo is SARL (LLC).
Due to the lack of roads for the transit of agricultural products (cassava, sugar cane, coffee, palm oil, rubber, and bananas), the industry is declining. Agriculture accounts for more than half of the GDP and employs almost ⅔ of the working population. In this segment of the Congo market, it is profitable to register a company as food production is insufficient for the domestic market. On the other hand, IDC directs investment flows to road construction. Registration in the Congo of a company aimed at arranging transport links will be well received.
Because of the poor road system and the size of the country, there are almost 200 airfields in the Congo, but only 26 fixed runways. Freight transport of minerals by air is of great importance as the roads are under insurgent control.
