Situated in Africa, the Ivory coast is one of the smallest countries in Western Africa with a population of under a million. Although it is relatively small and lacks several infrastructures, the country offers domestic companies and foreign investors great business opportunities and incentives such as friendly taxes, accessible labor, etc. Company formation can be achieved easily in no time. Additionally, the registration fee is relatively cheaper than in other parts of the region. However, with the setbacks facing the country, finding good buyers for a company can be a bit hard.
If you are a company owner who wants to sell out or you are interested in knowing how companies are sold, this article provides information on selling a company in the African region to global buyers.
Selling a company
Companies are bought and sold daily every day on Easy Buy Sell Business. The marketplace is accessible to anyone looking to buy or sell a business. To sell off a company, the first step is to contact an agent at the business support providing company. Next, the agent will create business ads to promote the business online. There, interested buyers can find the sellers directly. When you are selling a business, be calm and cautious, there are lots of scammers on the internet. You should hire the services of a professional to facilitate the process.
Types of business forms
Business forms are the various vehicles for carrying out commercial activities in a country. There are several legal forms allowed to operate in the country. The kinds of structures allowed are:
Private Limited Company (SARL)
This company requires a minimum of one person to set up with no maximum limit of numbers. It has a minimum share capital of XOF 1 million with shareholder’s liability limited to the amount contributed.
Public Limited Company (SA)
Can have more than 1 shareholder and 3 directors. Requires a minimum capital of XOF 10 million to set up. Liability is also limited to the contributed amount.
General Partnership (SNC)
There is no maximum number of partners and no minimum capital required at set up. The liability of shareholders is limited to the amount contributed.
Limited Partnership (SCS)
It takes a minimum of 2 partners to set up. There are two kinds of partners: silent partners and active partners. It doesn’t have a minimum capital requirement. The liability of active partners is unlimited whilst silent partners are to the amount contributed by each.
Others
- Joint venture (société en participation)
- De facto company (société de fait)
- Economic interest grouping (groupement d’intérêt économique)
- Registered branch of a foreign company
- Representation or liaison office
Doing business in Cote d’Ivoire
The country is highly dependent on agricultural activities. It produces and exports the largest cocoa beans in the world. It is also a significant producer of coffee and palm oil. For most companies dealing in cocoa, oil, and coffee exportation but the processing of cocoa, cashews, etc is a high priority. Also, gold mining and the exportation of electricity are rising industries aside from agriculture. Commodities such as cocoa beans, gold, rubber, refined petroleum, and crude petroleum are greatly exported by domestic companies in the country. It has achieved effective growth in its social infrastructure, health, and education sectors over the years. Regardless of the challenges facing domestic companies doing business, it offers incentives for foreign investors such as lower taxes, available labor, cheap manpower, etc. These incentives allow business owners to have ease of doing business in the country. The government has shown interest in improving the economy and developing the tourism and manufacturing sector, thus investors can invest in the country.
