The underlying legal code in Republic of the Congo is civil law law. You will want to get some local advice as to how to best structure a company in Republic of the Congo.
The abbreviation CG is for Republic of the Congo and the most common legal entity type in Republic of the Congo is a LLC(SARL).
You should expect a wait time of 149 days to setup a LLC(SARL) in CG. The types of currencies you can use to fund your legal entity is frequently CDF, USD, and Any legal currency.
Yes, one is allowed to re-domicile a LLC(SARL) from CG. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least 1 shareholder. This makes it possible for you to own a LLC(SARL) in CG by yourself. Corporate Shareholders are permitted, which means you can have a legal entity as a shareholder. Foreign ownership is permitted, up to % of the ownership of the legal entity.
A LLC(SARL) is only required to have one director. Consequently, corporate directors are not permitted. Directors are disclosed publicly. There is a body of law which requires companies to hold an annual meetings of shareholders.
A registered agent is normally required, which means the company will have to pay a fee on a yearly basis, for an office which can receive a service of process on behalf of the business. Moreover, a corporate secretary is also mandated by the government.
There is an obligation to file yearly tax returns. However, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are in effect. A company is thinly capitalised when there is a greater proportion of debt than equity. The minimum capitalization for a Republic of the Congo Civil Law is 1,000,000.
A corporate director is not permitted, meaning this country is not a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Republic of the Congo, -. Shareholders are not disclosed in the -.
Typically companies take 149 days to setup and there are 1 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Republic of the Congo is a bad option and have given it a score of 28 as an IO score, using the Incorporations.IO proprietary formula.
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