How to start a business in Burkina Faso

Well, well, well if it isn’t Burkina Faso today.
Let’s see what you need to do to start a new business here. First things first: here are some general data about Burkina Faso.

Burkina Faso is a low income economy located in Sub-Saharan Africa. It has a population of 16,460 million and a GNI (Gross National Income) per capita of 670 USD. Its capital city is Ouagadougou or Ouaga if you’re having trouble remembering.

Starting a business in Burkina Faso is relatively easy. You need to complete 3 procedures and wait for 13 days before your business is up and running. Let’s see in detail what is it exactly that you have to do :

• Where to address to register your company?

To register your company you need to address the Centre des Formalités de Entreprise (CEFORE)

• How many days are necessary to complete all the legal procedures?

13 days is the minimum time required for company registration.

• How many procedures are necessary to start a business?

You need to complete 3 procedures in order to legally register your company. Here they are:

1. Have your initial capital deposit with a bank

You will have to wait between 1 to 3 days before the bank releases you the paperwork conforming the initial capital subscription.

2. Address a public notary to notarize your company’s declaration of capital subscription

This procedure requires 3 days to complete and it will cost you 3% of your company’s declared capital. The declaration of capital subscription is mandatory in the registration process.

3. Register your company at Centre des Formalités de Entreprise (CEFORE)

For company registration, tax number (IFU), labor, and social security you need to address the Centre des Formalités de Entreprise. With a single application your company will be registered with the Trade Register and Personal Credit (RCCM), the fiscal authorities (at the Direction Générale des Impots) and Ministry of Commerce for professional license (carte professionnelle de commerçant). After submitting the form you will be issued an unique company identification number

The procedure requires 7 working days to be completed, but apparently, in practice, it can take longer.
The registration fee is 90.45USD or 47,500 XOF (West Africa Franc, CFA Franc)

That’s it!
Now, summing up: starting business in Burkina Faso requires 3 procedures, 13 working days and 90.45 USD in fees.

Are you in for the challenge?