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Expatriate Forums in Madagascar -> Madagascar Business & Madagascar Finance / Madagascar Jobs -> DOING BUSINESS IN MADAGASCAR / MADAGASCAR BUSINESS GUIDE
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PostPosted: Sat Mar 03, 2007 7:53 am    Post subject: DOING BUSINESS IN MADAGASCAR / MADAGASCAR BUSINESS GUIDE Reply with quote

DOING BUSINESS IN MADAGASCAR

STARTING A BUSINESS

STANDARDIZED COMPANY
Legal Form: Private Limited Liability Company
Minimum Capital Requirement: 2,000,000
City: Antananarivo

Registration Requirements:


Procedure 1. Legalise the signatures of the founders at the mayor's office in Antananarivo

Time to complete: 1 day

Cost to complete: MGA 40,000 (MGA 500/ signature)

Comment: The amount depends on the number of founding members. 10 copies of the statutes are required. In addition, other founding documents (minutes of the founding general assembly, declaration of subscription of capital) must be legalised.

Procedure 2. Buy fiscal stamp for each copy of the Articles of Association

Time to complete: 1 day

Cost to complete: MGA 16,000 (MGA 200 per stamp, 10 copies on the basis of 8 pages to each copy)

Comment: The total cost may vary, depending on the number of pages of each copy of the Articles.

Procedure 3. Register the deeds at the at the GUIDE (Guichet Unique), make a declaration of fiscal existence, file for professional tax ("la patente"), register for taxes to obtain the Fiscal Identification Number (NIF) and with the National Statistics Institute

Time to complete: 1 day

Cost to complete: 1% of capital if below MGA 10 mln, 0.5% if between MGA 10 mln and MGA 100 mln, 0.1% if more than MGA 100 mln + MGA 60,000 (professional tax or ‘patente') + MGA 1,000

Comment: Entrepreneurs need to complete Fill in 4 copies of the declaration of existence and file the Articles of Association with the following enclosed documents: lease contract, certificate of residence and copy of the ID of the manager.

Filing for professional tax is obligatory no matter if the enterprise is subject to the tax or not (certain agricultural firms are not subject to the tax, but still need to obtain a "negative declaration of clearance"). The professional tax may vary, depending on the activities and the rent of the company location, ranging from MGA 60,000- 200.000.

Procedure 4. Obtain commercial registration number, tax and statistical ID, and deposit registered statutes

Time to complete: 2 days

Cost to complete: MGA 15,700 commercial registration fee + MGA 20,000 INSTAT, fiscal stamps + MGA 300 for matriculation form

Comment: The professional card ("carte professionelle"), statistical card, confirmation of tax registration and the commercial registration number can be obtained the next day.

According to decree 2005-380 from 22 June 2005, the fee for statistical registration increased from MGA 11,000 to MGA 20,000.

Procedure 5. File a notice of constitution to be published in a daily newspaper in French.

Time to complete: 2 days

Cost to complete: no charge

Procedure 6*. Obtain K-bis from the Register of Commerce

Time to complete: 3 days (simultaneous with procedure 5)

Cost to complete: fiscal stamp MGA 200 + MGA 1,200

Comment: All the documents required for the K-bis application are deposited at the GUIDE at the same time as for the statistical ID, NIF and Carte professionnelle. The K-Bis is delivered.3 days after the registration of the statutes.

Procedure 7. The Register of Commerce issues to the company a Certificat de dépôt from (Certificat de dépôt d'actes).

Time to complete: 8 days

Cost to complete: fiscal stamp MGA 200 + MGA 1,200

Comment: The Certificat is delivered by the GUIDE once the K-bis has been obtained.

Procedure 8. Legalise a copy of the ID documents of all workers at the municipality

Time to complete: 1 day

Cost to complete: MGA 5,000 (assume 10 workers)

Procedure 9. File a form for the firm and for each employee with the National Social Security Fund (Caisse Nationale de Prevoyance Sociale).

Time to complete: 2 days

Cost to complete: no charge

Comment: The forms are called, respectively, "demande d'immatriculation" and "demande 'affiliation travailleur". File notarised copy of passports, Birth Certificates for employees younger than 18, and a corporate registration certificate.

Procedure 10. File for the company and for each employee for health insurance at the sanitary Organization in Antananarivo (l'Organization Sanitaire Tananarivienne Inter-Entreprises)

Time to complete: 1 day

Cost to complete: no charge

Comment: File an application form ("bulletin d'adhesion nouveau-membre") in 2 copies, a list of the names of the employees and their IDs.

Note: Procedures sometimes take place simultaneously. Instances of this are marked with an asterisk (*).

TAXATION

Indirect taxes produce much more revenue than direct taxes. The most important indirect taxes are import duties (ranging from 0% to 25%), a value-added tax (20%), customs fees (0% to 25%), and consumption taxes (from 0% to 10%). Import licenses are not necessary, and exports have been liberalised. Direct taxation consists of a graduated personal income tax with a maximum rate of 35%, a corporate profits tax at a flat rate of 35%, and a tax on income from transferable capital.
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