Gabon SubsidiaryReading Time: 3 minutes
Any expansion to Gabon requires using a subsidiary to operate, whether you expand on your own or work with a global PEO. However, it can take a significant amount of time to learn how to set up a Gabon subsidiary, follow Gabon’s subsidiary laws, and continue to run your various company locations.
Globalization Partners eliminates both the time and the stress involved in an expansion through Gabon subsidiary outsourcing. We’ll use our Gabon PEO to hire employees and assign them to work for you, add them to our payroll, and give out the right benefits. Our goal is to help you work in new countries in a matter of a day or two without the stress of compliance.
How to Set up a Gabon Subsidiary
You have to consider many different factors before setting up your Gabon subsidiary. For example, different cities or regions can have various Gabon subsidiary laws that impact costs, availability, ease of business, and more. You should research a few different regions and find the one with the most favorable laws. If you’re not familiar with the different areas in Gabon, we recommend working with an expert who can suggest the right locations.
Next, you need to consider what type of subsidiary best fits your business goals. Every entity also has its own Gabon subsidiary laws and can give you either more or less freedom to operate in Gabon. Your options include a limited liability company (LLC), public limited company, or branch office. Usually, companies choose to establish an LLC since this structure provides the most freedom to operate in the country.
Setting up your Gabon subsidiary as an LLC includes the following steps:
- Providing a single form for formalizing your company
- Making six copies of the identification of all corporate officers
- Providing the criminal records of all corporate officers
- Creating three copies of the authorization or technical approval of the company’s activities
- Obtaining four location maps showing the company’s head office
- Signing the SEEG subscription contract
- Notarizing articles of association of the parent company and translating into French
- Drafting minutes of the Board of Directors deciding to open a location in Gabon
- And more
Gabon Subsidiary Laws
Though LLCs are the preferred type of subsidiary, you still have to follow all of Gabon’s subsidiary laws related to LLCs. This business entity requires one director and one shareholder who can be of any nationality and do not have to live in Gabon. You also need $1,700 in minimum paid-up share capital to complete your company’s setup with the local Companies Registrar.
LLCs allow businesses to operate much like a resident company, which means you’ll have some of the same regulations. If you have over $17,000 in paid-up capital, annual turnover over $420,000, or more than 50 employees, you’ll need to appoint an auditor to help you stay compliant.
Benefits of Setting up a Subsidiary
Completing the Gabon subsidiary setup process will help you officially expand and start working in the country. Incorporating as an LLC will also benefit your subsidiary and parent company. This structure will give your parent company limited liability for the subsidiary’s actions and allow your subsidiary to create its own culture and ways of operating in Gabon.
Choosing Gabon subsidiary outsourcing with Globalization Partners will give you these benefits and more. Instead of spending months or even a year setting up your own subsidiary, you can use our structure to start working in a few days. We also act as the Employer of Record, so we’ll be the ones responsible for Gabon subsidiary laws instead of you.
Everything You Need to Establish a Subsidiary
Incorporating in any country requires plenty of time, money, and expertise. First, you’ll need to clear your schedule for the weeks or months leading up to registering your Gabon company. We also recommend working with your accounting or finance departments to set aside the money you’ll need for each step of the process. Finally, if your company does not have an expert in Gabon subsidiary laws, you should work with a lawyer, accountant, or consultant who can help you stay compliant.
Work With Globalization Partners for Your Expansion
The team at Globalization Partners is ready to help you succeed in your expansion. Contact us today to get started and learn more about Gabon subsidiary outsourcing.