How To Start A Business in Togo
Starting (Registering) a Business in Togo
Starting a business, or company, in Togo takes approximately 75 days as compared to about 46 days for the Sub-Saharan Africa region. This piece outlines the general technical procedures for starting a company in Togo, according to the Doingbusiness.org database by the World Bank. It includes details and requirements to be in good standing with all relevant agencies beyond the company registrar like social security agencies.
Use this as a guide while you complete the process and consult with agents carrying out work on your behalf. Additional notes may be found here.
The steps involved in registering a company [SociÃ©tÃ© Ã ResponsabilitÃ© LimitÃ©e (SARL) – Limited Liability Company] in Togo are:
- Pick up the registration forms and a questionnaire to be filed with the Guichet Unique.
- Have a notary legalize documents.
- Buy fiscal stamps.
- Deposit company’s initial capital in bank and obtain receipt.
- Obtain copy of criminal record of each company director.
- Apply with the Ministry of Commerce for an authorization to establish business.
- Deposit all the documents for company registration and pay fees at the Guichet Unique.
Publish company incorporation in national news daily or the Official Gazette
|No.||Procedure||Time to Complete||Associated Costs|
| ||1||Check the company name
Agency: Guichet Unique : CFE
The first step is to verify the uniqueness of the desired company name. The availability of the name can be checked online at http://cfetogo.org/annuaire_check, but most entrepreneurs still do it in person at the agency.
| ||2||The notary legalizes documents and buys stamps
Agency: Public Notary
Company statutes can be executed either by notary act or by private contract. The fiscal stamp fee is XOF 1,500 if the statutes are printed in an A4 format (usually used by lawyers) and XOF 1,000 if printed on a smaller format (usually used by notaries).
| ||3||Deposit the company’s initial capital
Agency: Bank or Public Notary
When depositing initial capital, company founders must consider that the minimum authorized capital for a limited liability company is XOF 100,000, divided into shares whose face value cannot be lower than XOF 5,000. The entire authorized capital is paid up upon subscription. The founder must immediately deposit the share contribution in a bank account opened under the name of the company or the notary. The funds remain frozen until the date of company registration with the Registre de Commerce et de Crédit Mobilier (RCCM), at which time the funds are placed at the disposal of the managers.
| ||4||Deposit all the documents for company registration and pay fees at the Guichet Unique: CFE
Agency: Guichet Unique: CFE
The one stop shop (CFE) is fully operational and is the official agency in charge of incorporating a business including since the Ministry of Commerce is not part of the business registration process since the beginning of 2009. This One-stop shop has been improved in 2013 and the time for registration has been significantly reduced.
Once payment has been made at the cashier of the BTCI, the receipt has to be given to the CFE.
The cost are the following:
Court (XOF 8,250) + Tax authority stamp (XOF 1,000) + One-stop shop (Centre de Formalité des Entreprises) (XOF 20,000) + online publication (XOF 5,000).
||see procedure details
|*||5||Payment of all the fees at the cashier (BTCI)
Agency: Cashier of BTCI
Payment of the fees is at the cashier of BTCI.
|1 day (simultaneous with previous procedure)
||included in previous procedure
| ||6||Registration with the Chamber of Commerce
Agency: Chamber of Commerce
Registration with the Chamber is optional; however most businesses prefer to do it to qualify for business boarders permits. The fee to register with the Chamber of Commerce is XOF 15,000.