Senegalese law provides for a number of business forms for investors. These include:

Limited Company

A limited company can be formed in Senegal as public or private. They can be formed by a single or multiple shareholder.

Key aspects of a Public Limited Company include:

Shareholder's liability limited to the amount of their contribution;
Shares are freely transferable; and
Minimum capital requirement is XOF 10 million.

Key aspects of a Private Limited Company include:

Partner's liability limited to the amount of their contribution;
Shares are not transferable without the approval of other shareholders;
Minimum capital requirement is XOF 1 million.

Partnerships

Partnerships can be formed in Senegal as general partnerships or limited partnerships.

Key aspects of General Partnerships include:

Formed by 2 or more partners;
All partners are subject to unlimited liability; and
No capital requirements.

Key aspects of Limited Partnerships include:

Formed by at least 1 general partner and 1 limited partner;
General partners are subject to unlimited liability while limited partners are liable up to the amount of their contributions; and
No capital requirements.

Economic Interest Grouping

Senegal allows for the formation of an economic interest grouping, or groupement d'intérêt economique (GIE).

Key aspects of a GIE include:

GIE's are similar to an LLC but have less legal rights;
May be used to conduct activities in addition to those of its members in order to develop, improve or increase the economic activities of its members; and
GIE's have no capital requirements.

Representative Office

Senegal allows foreign companies to establish a representative office to conduct liaison activities in Senegal.

Branch

It is possible to register a branch in Senegal. Pursuant to the revised OHADA rules, the branch must be converted into a subsidiary within 2 years of operations. The conversion obligation may be postponed by ministerial authorization for a similar period of 2 years but only once and only for companies subject to a “special regime”. Prior to the 2014 revision of the OHADA rules, the conversion obligation could be postponed by ministerial authorization multiple times and without the limitation to those entities benefitting from a “special regime”.

Further information on the general investment, tax and regulatory regime about the country is available at the following external references:

“Doing Business” report from World Bank – click here
Reports and publications from OECD – click here
Reports and publications from IMF - click here
Reports and news from Tax Justice Network – click here
Invest in Senegal – click here
Ministry of Economy, Planning and Cooperation – click here

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