Being the second largest island state in the world, Madagascar is located off the coast of East Africa (in the Indian Ocean). The island of Madagascar is also one of the largest in the world (4th place), being second only to Greenland, New Guinea and Kalimantan.
Are you interested in setting up a company in Madagascar or opening an account with a Madagascar bank? If you are, then you should keep in mind the following information:
- the country's capital is Antananarivo;
- the national languages are Malagasy and French;
- the national currency is Malagasy ariary (MGA);
- Madagascar is a member of ACP, SADC, AU, etc.
For more information or advice on company registration in Madagascar, please contact YB Case experts.
Legal Forms & TaxationYou can register a company in Madagascar by choosing one of these legal forms:
- LLC (SARL);
- Free zone LLC (EPZ);
- PLC (SA);
Usually, registering a company in Madagascar and opening a corporate account with a Madagascar bank takes 2-4 weeks.
Registration ProcedureThose planning to remotely open a company in Madagascar are required to meet the following criteria:
- submit the necessary documents to the state register of Madagascar and register a company with the tax service of Madagascar;
- get a tax ID;
- obtain a business license in Madagascar (Carte Professionnelle) and get a statistical ID;
- submit documents on a company's personnel to the Madagascar National Social Insurance Fund (Caisse Nationale de Prévoyance Sociale);
- be over 30 years old.
After completing the above steps, they will be provided with K-Bis documents.
Please note that setting up a company in Madagascar requires applicants to notarize all the necessary documents.
Registration FeesThose seeking to remotely register a Madagascar company should keep in mind that:
- a registration fee is 15 500 MGA (4 USD);
- a fee charged by the National Institute of Statistics of Madagascar is 20 000 MGA (5,20 USD);
- preparation of K-Bis documents costs 20 000 MGA (5,20 USD);
- registration procedure costs 9 100 MGA (2,40 USD).