Invest and set up a business

Doing business in Benin

Are you an entrepreneur in Belgium interested in the Beninese market? Legal forms, registration steps, official costs, tax incentives and contacts: this guide gathers the essentials to prepare your project, and the consulate opens doors for you.

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Set up online in three working hours
From 10,000 CFA francs, about €15
Up to 100% of the capital held by a foreigner

The port and business district of Cotonou, Benin's economic capital

€1 = 655.957 CFA francs

A fixed parity with the euro: no exchange rate risk for a Belgian company.

stated set-up time, complete file: 3 h
fee to register a sole proprietorship: 10,000 FCFA
share OHADA business law: 17 countries
inhabitants, next door to Nigeria: 14 M

Why Benin

Benin applies OHADA business law, shared by seventeen African countries: company forms are close to those of Belgian and French law. The CFA franc is pegged to the euro, so there is no exchange rate risk.

Since 2016, the State has made business easier: online set-up through a one-stop shop, an Investment Code reformed in 2020, the Glo-Djigbé industrial zone and major infrastructure works.

The port of Cotonou, run since 2018 by a subsidiary of Port of Antwerp-Bruges, serves Niger, Burkina Faso and northern Nigeria: a regional market much larger than Benin alone.

Legal forms of business

The right form depends on the number of partners, the capital and whether investors will join later. A foreigner may hold all the shares in most sectors.

Sole proprietorship (établissement)

Testing an activity on your own, small trade or services.

Partners: Just you
Capital: No capital
Articles: No articles of association
Set-up fee: 10,000 FCFA (€15)

SARL / SARLU

Limited liability company (SARL)

The most common form for an SME. Also exists with a single partner (SARLU).

Partners: One or more partners
Capital: Free, set in the articles (no minimum in Benin)
Articles: Private deed or notarised
Set-up fee: 22,000 FCFA (€34)

SAS / SASU

Simplified joint-stock company (SAS)

Projects with investors or a subsidiary of a Belgian company: very flexible articles.

Partners: One or more shareholders
Capital: Free, set in the articles
Articles: Notarised
Set-up fee: 37,000 FCFA (€56)

Public limited company (SA)

Large projects, public offerings, regulated sectors.

Partners: One or more shareholders
Capital: At least 10 million CFA francs (OHADA)
Articles: Notarised
Set-up fee: 37,000 FCFA (€56)

Succursale

Branch of a foreign company

Extending a Belgian company to Benin without creating a new legal entity.

Partners: The parent company
Capital: No own capital; must become a Beninese company after two years, unless exempted
Articles: Parent company documents, notarised
Set-up fee: 22,000 FCFA (€34)

Other possible forms, at 37,000 CFA francs: economic interest group (GIE), general partnership (SNC), limited partnership (SCS), real estate company (SCI) and professional partnership (SCP). A representative office, with no commercial activity, follows the fee of the parent company's form. The branch of an SA or SAS costs 37,000 CFA francs.

Registration steps

Everything happens on monentreprise.bj, APIEx's one-stop shop. A person holding a power of attorney can act for you in Benin.

1
Choose the form and activity
Check whether your activity needs a licence: banking, health, transport, telecoms, education…
2
Gather documents in Belgium
Passport or ID card, criminal record extract or sworn statement, legalised power of attorney if a representative acts for you.
3
Draft the articles
Platform template for an SARL, or a notarial deed for an SAS, an SA or a branch.
4
Pay in the capital
For a company, deposit the capital with a bank or notary, who issues a deposit certificate.
5
File online
Fill in the declaration on monentreprise.bj, upload the documents and pay the fees online.
6
Receive RCCM and IFU
Once approved, you receive the trade register number (RCCM) and the single tax identifier (IFU). Then register your employees with the CNSS.

Set-up costs

The one-stop shop's official fees are modest and the same for everyone, resident or not.

Formality	Official fee	About
Sole proprietorship	10,000 FCFA	€15
SARL, SARLU, branch of an SARL	22,000 FCFA	€34
SAS, SASU, SA, GIE, SNC, SCS, SCI, SCP	37,000 FCFA	€56
Amending a sole proprietorship	9,100 FCFA	€14
Amending a company	18,100 FCFA	€28

Fees published on monentreprise.bj. Converted at the fixed rate of 655.957 CFA francs to €1.

Also budget for

Notary fees, when the articles must be notarised (SAS, SA, branch).
The share capital, deposited with a bank or notary in the company's name.
Consular fees for legalising your Belgian documents and powers of attorney.
Bookkeeping and tax returns, often handled by a local firm.
Licences or approvals required for certain regulated activities.

Investment Code incentives

Law no. 2020-02 of 20 March 2020 grants customs and tax incentives to companies incorporated in Benin, whether Beninese or foreign-owned, according to the amount invested. Applications are filed with APIEx.

Régime A

From 50 million to 1 billion CFA francs

About €76,000 to €1.5 million of investment excluding tax: the SME regime.

Régime B

From 1 to 50 billion CFA francs

About €1.5 to €76 million: larger industrial and service projects.

Régime C

From 50 billion CFA francs

Over €76 million: major structural investments.

A sector incentive scheme strengthens the benefits of regimes A and B in sectors the government deems strategic.
A specific investments scheme targets tourism, cultural, sports, health and education infrastructure.
Special economic zones, including the Glo-Djigbé industrial zone (GDIZ), offer their own exemptions to approved export-oriented companies.

Tax landmarks

VAT: 18%, the common UEMOA rate.
Corporate income tax: 30% as a general rule.
Small businesses: the synthetic professional tax (TPS) replaces several taxes below a turnover threshold of 50 million CFA francs.

Indicative landmarks: the General Tax Code is adjusted every year by the finance act. Have your situation confirmed by the DGI or a tax adviser.

What the consulate does for you

Our role goes beyond paperwork: we want to open doors for entrepreneurs and investors who choose Benin.

Guidance

We introduce you to the right contacts: APIEx, the chamber of commerce, public administrations and Belgian partners.

Carrying your questions

A specific question for a Beninese administration? Submit a request: the consulate forwards it through the official channel.

Submit a request

Legalising your documents

Articles of association, powers of attorney, diplomas, criminal records: documents issued in Belgium must be legalised to be used in Benin.

Legalisation

Preparing your trip

For a prospecting mission or the signing of the articles, the visa is applied for online within a few days.

The online visa

Preparing your project from Belgium

Most formalities are prepared before you leave. These documents often go through the consulate.

A valid passport or identity card.
A Belgian criminal record extract, legalised by the FPS Foreign Affairs and then by the Beninese post.
A legalised power of attorney if a relative, lawyer or notary acts for you in Benin.
For a branch or subsidiary: the Belgian company's articles and Crossroads Bank for Enterprises extract, legalised.

Your contacts in Benin

APIEx
Investment and export promotion agency: entry point for investors, Investment Code approvals, special economic zones.
monentreprise.bj
APIEx's online one-stop shop to create, amend or close a business.
Direction générale des impôts
Single tax identifier (IFU), tax returns and the current General Tax Code.
CCI Bénin
Benin Chamber of Commerce and Industry: business directory, missions and sector information.

Your partners in Belgium

AWEX
Wallonia's export and foreign investment agency: advice, missions and support for Walloon businesses.
hub.brussels
The Brussels agency for business support and international expansion.
Flanders Investment & Trade
The Flemish agency for foreign trade and investment.
Credendo
Belgium's public credit insurer: country risk analyses and cover for exports and investments.
BIO
The Belgian investment company for developing countries: financing for local SMEs and institutions.

Frequently asked questions

Can a Belgian own 100% of a company in Benin?

Yes, in most sectors. Some regulated activities, such as banking or telecoms, require a specific licence.

Do I need to travel to Benin to set up my company?

Not necessarily. The procedure is online and a representative with a legalised power of attorney can act for you. Opening the bank account often requires your presence or a representative.

How much does it cost to set up a business?

Official fees range from 10,000 CFA francs (about €15) for a sole proprietorship to 37,000 CFA francs (about €56) for an SAS or SA, plus notary fees when the articles must be notarised.

What is the minimum capital for an SARL?

None: in Benin, partners set the capital freely in the articles. A capital in line with the activity does reassure banks and partners. Only the SA requires 10 million CFA francs.

Whom should I contact first?

APIEx is the main contact in Benin. The consulate guides you, legalises your documents and can forward your questions to the Beninese authorities.

A project in Benin?

Tell us about your project: we point you to the right contacts and prepare with you the documents you will need in Benin.

Discuss my project with the consulate