Central African Republic

Central African Republic

The CAR is an independent landlocked state. It is one of the developing densely populated countries in the African continent.

Those, who want to establish a company in Central African Republic and open a CAR bank account, must know the following:

  • CAR is a member of the World Trade Organization, ECCAS, OIF and AU;
  • Capital: Bangui;
  • State languages: French, Sango;
  • CAR borders with 6 countries: South Sudan and Sudan, DR Congo and Congo Republic, Chad and Cameroon;
  • Currency is XAF.

If you want to learn more, YB Case experts can provide you with individual advice on a business organization process in Central African Republic and qualified assistance in opening an account for a CAR company.

Industries in which it is profitable to register a business

Those who are planning to open a business in this jurisdiction, we propose to take a closer look at the following options:

  1. To register a forestry company in CAR;
  2. To set up a mining company in CAR (diamonds, gold, undeveloped deposits of uranium and oil);
  3. To register a CAR pharmaceutical company;
  4. To open a tourism company in Central African Republic.

Also, you have an opportunity to set up a financial services company in CAR, transport company, energy company or an agricultural company (cotton, coffee, bananas, sesame seeds, peanuts, cassava, corn, yams, sorghum, millet).

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Legal forms and taxes

Those, who are interested in registering a company in CAR remotely and opening a corporate account with a CAR bank, can choose the following business entity types:

  • LLC;
  • PLC;
  • LLP;
  • RO;
  • Branch.

Legal form

Corporate tax

VAT

Share capital

LLC (SARL)

30%

19%

1 800 USD

PLC (SA)

30%

19%

18 000 USD

LLP

-

19%

185 USD

Branch

30%

19%

1 USD

Registration requirements

In order to set up a CAR company, you will need to fulfill these conditions:

  1. Two founders of any nationality
  2. Registered physical office;
  3. Local bank account;
  4. Business visa.

Please, note that the Memorandum, the Articles of association and copies of the founder`s and director`s documents must be filed in French and then notarized.

How to establish a company in Central African Republic

If you are intended to register a business in CAR remotely and open a CAR corporate bank account without a personal visit, then our experts recommend you considering the following banks:

  • Banque Populaire Maroco-Centrafricaine;
  • Ecobank;
  • BSIC;
  • Credit Populaire De Centrafrique;
  • BEAC.

It is worth noting that Visa and Mastercard are not serviced; there is only a local interbank network. The CAP is included in the list of countries that do not participate in the automatic exchange of tax-free information under the CRS standard.

For more information, you can request for qualified personal advice on a company registration process in CAR and on opening an account with a CAR bank from YB Case team.

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