After choosing to expand to the Republic of the Congo, you have to focus on many different tasks. However, before you can hire employees, institute a payroll option, or disperse benefits, you need to have a subsidiary. A registered entity will give you the legal authority to work in the country, and it’s the key to your success in expanding around the globe.
Companies often need months, if not a full year, to establish an entity in the Republic of the Congo. Instead of losing this valuable time, remember that Globalization Partners can help you start working in as little as a day through Republic of the Congo subsidiary outsourcing. Your company can use our existing infrastructure to work, and we’ll handle all compliance so that you can focus on building your company.
How to Set Up a Republic of the Congo Subsidiary
Learning how to set up a Republic of the Congo subsidiary can take up a significant amount of your time. You have to consider several factors that could impact the incorporation process, such as your entity and location in the country. Some countries operate like the US, with different cities, regions, or states having various Republic of the Congo subsidiary laws. Finding the right location can mean friendlier incorporation laws for foreign countries.
Next, we recommend discussing the type of entity that works best for your needs. As a member of the the Organization for the Harmonization of Business Law in Africa (OHADA), the Republic of the Congo will allow you to incorporate as one of several types of subsidiaries, such as a limited liability company (LLC), a public limited company, a collective name company, or a simple limited partnership. You’ll get the most freedom to operate in the country if you incorporate as an LLC, and you’ll have the most restrictions as a branch or representative office.
Since most companies incorporate as an LLC, the Republic of the Congo subsidiary setup process includes:
- Drafting and notarizing the articles of association with the public notary
- Depositing the legally required capital in a bank
- Registering with the tax authorities
- Registering articles of association with the Commercial Registrar at the Clerk’s Office of the Court (Greffe du Tribunal de Commerce)
- Registering with the One-Stop-Shop (Centre des Formalités des Entreprises)
- Publishing the notice of your company’s formation in a legal journal
- Notifying the Ministry of Labor (ONEMO) about the start of operations
- Registering with the Regional Directorate of Labor
- Registering with the Social Security Authorities (CNSS)
Republic of the Congo Subsidiary Laws
You need to follow the Republic of the Congo subsidiary laws related to your entity. LLCs have their own set of laws that you’ll need to follow to stay compliant. For example, you need two shareholders, a minimum of 1 million CFA francs paid-up capital (approximately $1,850), and at least one director who does not need to be a resident in the country.
Before you register your company, you’ll need to establish a local bank account and deposit your share capital. Then, you’re required to register for tax and social security. Every year your company operates in the Republic of the Congo, you’ll need to submit annual financial statements and a tax return.
Benefits of Setting Up a Republic of the Congo Subsidiary
With so many laws and regulations to follow, many companies don’t have time to both set up a subsidiary and run their company. That’s why Globalization Partners offers Republic of the Congo subsidiary outsourcing. Instead of spending weeks or months to establish your own company, you can use our infrastructure to work quickly without worrying about compliance. Since we’re the Employer of Record, we’ll follow all of the Republic of the Congo’s subsidiary laws on your behalf.
Other Important Considerations
Companies that still decide to expand on their own will need time, money, and a global compliance expert to succeed. If you currently don’t employ an expert in Republic of the Congo subsidiary laws, we recommend finding a lawyer, accountant, or consultant who can help you stay compliant.
Let Globalization Partners Help With Your Expansion
Globalization Partners is the knowledgeable team you want on your side during an expansion. Contact us today to learn more about Republic of the Congo subsidiary outsourcing.