How To Start A Business in Benin

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How to Start a Business in Benin - Step by Step Guidelines

Starting a business in Benin involves a clear, streamlined process, with the government offering a one-stop service for registration and compliance. The following guide covers essential steps for both local and foreign entrepreneurs.

Step 1: Choose a Business Structure

Select the legal form of your business. Common types in Benin include:

• Sole Proprietorship (Entreprise Individuelle)
• Limited Liability Company (Société à Responsabilité Limitée – SARL)
• Public Limited Company (Société Anonyme – SA)
• Branch of a foreign company

Foreign investors commonly establish SARLs due to flexibility and lower capital requirements.

Step 2: Register Your Business at the One-Stop Shop

All business registration is handled through the Agence de Promotion des Investissements et des Exportations (APIEX), Benin’s one-stop shop for investors. You will need to submit:

• Business name reservation request
• Identity documents for shareholders
• Articles of Association
• Proof of address for business location

Estimated Duration: 2–5 working days
Cost: Approx. CFA 35,000 – 75,000 depending on company type

Step 3: Obtain the Tax Identification Number (IFU)

APIEX will facilitate the issuance of your Tax Identification Number (Identifiant Fiscal Unique – IFU) from the Ministry of Economy and Finance. This is required for all future tax-related transactions.

Step 4: Open a Business Bank Account

Open a corporate bank account in Benin and deposit the required capital (minimum CFA 1 million for SARLs, subject to change). You will receive a deposit certificate needed for final registration steps.

Step 5: Register with CNSS (Social Security)

If hiring employees, register with the Caisse Nationale de Sécurité Sociale (CNSS) to comply with social security obligations.

Step 6: Obtain Sectoral Licenses (If Required)

Depending on your business sector (e.g., health, education, transport, finance), obtain special authorizations or sectoral licenses from the relevant ministry or regulatory body.

Step 7: Declare Employees and Begin Operations

Formally declare employees to the Labor Inspectorate. Once all approvals are in place, you may commence business operations in compliance with Beninese labor and tax laws.

Estimated Costs and Timeframe

• Company Registration: CFA 35,000 – 75,000
• Legal Fees: May vary (CFA 50,000+ if hiring a consultant)
• Timeframe: 5 – 10 business days on average

Useful Resources

• APIEX Benin – Business registration and investor services
• Ministry of Economy and Finance – Tax registration and financial oversight
• CNSS Benin – Social security registration and employee services