Do you want to open a company in the Comoro Islands as a foreign entrepreneur? This article presents information about the main company types, business conditions, and other relevant information. Our team is ready to assist customers in all procedures and formalities linked to company formation in this offshore jurisdiction.
Table of Contents
What types of companies are available in the Comoro Islands?
Here are some of the available company types in the Comoro Islands:
- Limited liability company – SARL,
- Limited company – SA,
- Single-Member Limited Liability Company – SARLU,
- Sole proprietorship,
- Economic Interest Grouping – GIE,
- International Business Company – IBC.
What is the most popular business structure in the Comoros Islands?
The limited liability company is the most popular business structure available in the Comoros.
What is the minimum share capital for LLCs in Comoros?
KMF 750,000 is the minimum share capital required for opening a limited liability company (SARL) in the Comoro Islands, which represents around USD 1,700.
Can LLCs in the Comoros be foreign-owned?
Yes, opening a limited liability company in the Comoros is quite beneficial because 100% foreign ownership is permitted.
Is a physical office required for opening a company in the Comoros?
Yes.
Who can set up IBCs in the Comoros?
Foreign businessmen and entities can set up International Business Companies in Comoros. IBCs allow 100% foreign ownership and benefit from a very advantageous tax system.
How can IBC be established in the Comoros?
Here are some of the conditions and formalities for IBC formation in Comoros:
- must have a registered office in Comoros, plus a representative agent with residency here,
- at least one shareholder can set up an IBC in Comoros,
- must check and reserve the desired business name,
- must have at least one director who can be an individual or a company, regardless of nationality,
- EUR 250,000 is required as minimum share capital, which can be deposited once a corporate bank account is opened,
- must obtain a Tax Identification Number (TIN).
Where can you register an IBC in the Comoro Islands?
Company incorporation documents must be submitted to the National Agency for Investment Promotion (ANPI) and the Comoros Financial Services Authority (MISA).
What is the legal framework for companies in Comoros?
Companies can be set up in the Comoro Islands, considering the following laws:
- Commercial Code,
- Investment Law,
- Labor Code,
- Corporate Regulatory Framework
What are the taxes in the Comoro Islands?
Here are some of the taxes imposed in the Comoro Islands based on the French tax system:
- 20% standard VAT rate,
- 35% as corporate income tax for resident companies in the Comoros,
- 0%-30% as progressive personal income tax,
- from 0% to 30% as Single Import Tax (TUI).
Are incentives available in Comoros?
Yes, local and international entrepreneurs can benefit from various tax incentives in the Comoros. Here are some of them:
- 10% reduction from the corporate tax for the first 5 business years and then 15% reduction for the following 10 years,
- unlimited loss carry-forward for qualified companies,
- customs duties exemption under certain conditions,
- special incentives for companies activating in the renewable energy & manufacturing sectors in the Comoros.
Are you ready for offshore company formation in the Comoros? We invite local and foreign customers to start a collaboration with us and explore our tailored services. Please contact us today and request a free case evaluation online or by phone.