Doing business

Ivory Coast

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Setting up a company | FDI in figures | Why you should choose to invest | Procedures relative to foreign investment | Finding assistance for further information

Setting up a company

Types of companies and capital (max/min)	Number of partners/shareholders and liability
Private Limited Company Minimum capital of CFA 500 000.	No minimum. Liability is limited to the amount contributed.
Public Limited Company Minimum capital of CFA 1 million.	Minimum 7 partners. Liability is limited to the amount contributed.
General Partnership. No minimum capital.	No minimum. Liability is limited to the amount contributed.
Limited Partnership. No minimum capital.	Minimum 2 partners. Two types of partners: silent partners and active partners. Liability of active partners is unlimited. Liability of silent partners is limited to the amount contributed.

Business setup procedures

Setting up a company	Ivory Coast	Sub-Saharan Africa
Procedures (number)	10.0	8.9
Time (days)	40.0	45.2

Source: Doing Business.

For further information: Consult Doing Business Website, to know about procedures to start a Business in Ivory Coast.
Invest in Franc Zone
The competent organization: Center for the Promotion of Investment in Côte d'Ivoire (CEPICI) (in French).

FDI in figures

Foreign Direct Investment	2008	2009	2010
FDI inward flow (millions USD)	482	381	418
FDI stock (millions USD)	5,814.0	6,222.9	6,640.8
Performance Index*, ranking on 141 economies	103	83	-
Potential Index**, ranking on 141 economies	126	-	-
Number of Greenfield investments***	5	8	-
FDI inwards (in % of GFCF****)	18.5	-5.1	-
FDI stock (in % of GDP)	24.8	27.8	-

Source:

Note: * The UNCTAD Inward FDI Performance index is based on a ratio of the country's share in global FDI inflows and its share in global GDP. ** The UNCTAD Inward FDI Potential index is based on 12 economic and structural variables such as GDP, foreign trade, FDI, infrastructures, energy use, R&D, education, country risk. *** Green field investments are a form of foreign direct investment where a parent company starts a new venture in a foreign country by constructing new operational facilities from the ground up. **** Gross fixed capital formation (GFCF) measures the value of additions to fixed assets purchased by business, government and households less disposals of fixed assets sold off or scrapped.

Why you should choose to invest the Côte d'Ivoire

Strong points

The country's main strong points are:
- A skilled workforce; and
- A rich sub-soil and a favorable climate for agriculture.
Ivory Coast is also an important financial area in West Africa.

Weak points

The country's weak points are:
- Its highly significant debt;
- Political instability;
- Red tape;
- Corruption problems; and
- The poor condition of infrastructures.
Ivory Coast is also one of the least competitive country in the world. In 2009, the country was ranked 110^th over 134 countries, according the World Economic Forum global competitiveness indicator.

Government measures to motivate or restrict FDI

The Ivorian government has established a number of measures to promote foreign investment:
- a one-stop shop for company creation;
- greater investment protection;
- a major works' program for road infrastructures, in particular with the privatization of the Abidjan - Ouagadougou railway line.

In the face of the economic development challenge, Ivory Coast has committed itself to making the private sector the growth driver in the coming years. Consequently, the authorities have recently established substantial tax reliefs in order to create permanent revival conditions in the private sector. Despite these measures, the private sector considers company taxation still to be restrictive and that the business climate remains unfavorable to investment. For more information, refer to the African Economic Outlook website

Bilateral investment conventions signed by the Côte d'Ivoire

Further information on Investing in the Franc Zone.

Procedures relative to foreign investment

Freedom of establishment: Investment is completely free for a foreigner, there are no restrictions. Foreign investors are treated as locals.
Acquisition of holdings: A majority holding interest in the capital of a local company is legal in Côte d'Ivoire.
Obligation to declare: The agency for the promotion of foreign investment in the country provides information on the authorizations required for setting up a business.
Competent organization for the declaration: The Center for the Promotion of Investment in Côte d'Ivoire (CEPICI) gives information about the authorizations required.
Requests for specific authorizations: The Center for the Promotion of Investment in Côte d'Ivoire gives information about the authorizations required (in French).

Finding assistance for further information

Investment aid agency: Guide to Establishment in Côte d'Ivoire
Investing in the Franc zone (in French)
Other useful resources: Ministry of the Economy and Finance