Companies expanding without the help of a global PEO such as Globalization Partners have to set up a subsidiary before starting on any other tasks. Your subsidiary is the hub of your operations in Niger and will allow you to hire employees, set up a payroll, and disperse compensation and benefits. Therefore, it’s crucial to know how to set up your Niger subsidiary correctly and follow the right Niger subsidiary laws.
Globalization Partners makes it easy to avoid complex employment compliance and labor laws through Niger subsidiary outsourcing. We’ll use our existing global subsidiaries to help you work faster and smarter. You can begin operations in a few days when you outsource with us, and we’ll lift all compliance burdens off your shoulders.
How to Set Up a Niger Subsidiary
You can’t begin the Niger subsidiary setup process until you make a few decisions on where you want to incorporate and what entity is best for your business. We recommend starting with the location since different cities or regions can have their own Niger subsidiary laws. Try to find the best place in the country that’s friendly to foreign investment, or work with a consultant who can steer you in the right direction.
Next, focus on your business goals to see what kind of subsidiary would work best with your desired activity level. You can incorporate as a limited liability company (LLC), public limited company, or branch. Each has its own restrictions, but LLCs offer the most freedom, while branches give you the least. Most companies incorporate as an LLC thanks to a wide range of benefits and limited restrictions.
Setting up your Niger subsidiary as an LLC includes the following steps:
- Coming up with two names, checking both through the CAC online portal, and choosing the name that’s not already in use
- Providing objectives for the company
- Providing the registered principal address of the subsidiary
- Drafting details of the parent company with a minimum of one additional shareholder provided
- Meeting the share capital and shareholding requirements
- Providing details for two directors with copies of their identification
- Providing details on the company secretary
- Creating a resolution of the parent company authorizing the registration of the subsidiary
- Drafting the memorandum and articles of association
- Providing a copy of the certificate of incorporation
Niger Subsidiary Laws
Since Niger’s subsidiary laws vary by entity, you need to make sure you follow the right laws for your type of subsidiary. LLCs need at least one shareholder and one director who can be of any nationality. You also need minimum paid-up share capital of $2,000, which should get deposited in an in-country bank account.
The country’s main language is French, and your LLC has to keep its books in French at the company’s registered office. If you don’t have an employee who speaks French, you’ll need to hire a local accountant, consultant, or translator. Then, appoint an auditor who will look at all your financial statements before submitting them to the local tax authorities.
Benefits of Setting Up a Niger Subsidiary
Once you finally incorporate, you’re ready to run your company in Niger. Your LLC will also help your parent company and subsidiary operate with a degree of protection. Your parent company won’t have to worry about any litigation from the subsidiary, and your subsidiary will be free to choose how it should operate in Niger.
Despite these benefits, Globalization Partners offers a better solution through Niger subsidiary outsourcing. Instead of taking the time to learn how to set up a Niger subsidiary, then spending months completing the process, you can rest assured that we’ll help you start working in the country in as little as a day or two. We’ll also act as the Employer of Record to take on all compliance instead of you.
Other Important Considerations
You need three things to set up your Niger subsidiary successfully — time, money, and an expert. Make sure you have the time and money to travel back and forth to Niger and handle the subsidiary setup process. Then, choose an expert such as a lawyer, accountant, or consultant who can help you stay compliant.
Let Globalization Partners Help With Your Expansion
Globalization Partners wants to see you start working in Niger quickly. Contact us today to learn more about Niger subsidiary outsourcing.