Starting a Business in Comoros

This table summarizes the procedures and costs associated with setting up a business in Comoros.

View all indicator data and topic details for this economy.

Change Selection

Legal Form: Limited Liability Company
City: Moroni

	Procedure	Time to complete:	Cost to complete:
1	Deposit the legally required capital in a bank and obtain the deposit evidence	4 days	KMF 55000
2	Verify and reserve the company name	1 day	no charge
3	Deposit and register the company’s articles of association with the public notary	2 days	0.5-1% of capital
4	Obtain extracts of criminal records of the directors	2 days	KMF 1000 per copy
5	Deposit company statutes at Ministry of Finance	2 days	3% declared capital + 500F stamp duty per page (3 copies of the statutes; 10 pages per statute)
6	Register the company at the commercial court	1 day	KMF 22500
7	Obtain the professional license (patente) at the tax administration	8 days	see comments
*8	Legalize the company books at court	7 days (simultaneous with previous procedure)	KMF 1000 per book
9	Make a company seal	2 days	KMF 10000
*10	Register for social security	1 day (simulteneous with previous procedure)	no charge
11	Register with the Chamber of Commerce	2 days	0.5 % of minimum capital

* Takes place simultaneously with another procedure.

Procedure 1.: Deposit the legally required capital in a bank and obtain the deposit evidence
Time to complete:: 4 days
Cost to complete:: KMF 55000
Name of Agency:
Comment:: Either the entrepreneur or the notary public deposits the initial capital in a bank and obtains the deposit receipt.

Procedure 2.: Verify and reserve the company name
Time to complete:: 1 day
Cost to complete:: no charge
Name of Agency:
Comment:: To avoid future lawsuits, the founders must pick a name that is not already in use.

Procedure 3.: Deposit and register the company’s articles of association with the public notary
Time to complete:: 2 days
Cost to complete:: 0.5-1% of capital
Name of Agency:
Comment:

Procedure 4.: Obtain extracts of criminal records of the directors
Time to complete:: 2 days
Cost to complete:: KMF 1000 per copy
Name of Agency:
Comment:: To conduct the court search requires the birth certificates of the directors named in the statutes.

Procedure 5.: Deposit company statutes at Ministry of Finance
Time to complete:: 2 days
Cost to complete:: 3% declared capital + 500F stamp duty per page (3 copies of the statutes; 10 pages per statute)
Name of Agency:
Comment:

Procedure 6.: Register the company at the commercial court
Time to complete:: 1 day
Cost to complete:: KMF 22500
Name of Agency:
Comment:: To register a company at the Commercial Court, the following documents are required:
- The list of managers, administrators, or associates with the power to act on behalf of the company (two copies).
- The property title or lease agreement.
- Capital declaration.
- Copies of the statutes certified by FIS.
- Managers’ criminal records.

Although the requirement to publish the statutes in the Official Journal is mandated by the Organization for the Harmonization of Business Law in Africa (Organisation pour l'Harmonisation du Droit des Affaires en Afrique, OHADA), this requirement is not observed because (a) the Official Journal does not function consistently; and (b) the publication fee has not been published; thus, the registrar has no power to charge for publication. There are other daily and weekly journals in which to publish. At the directors’ discretion, they may opt to publish in other daily and weekly journals.

Procedure 7.: Obtain the professional license (patente) at the tax administration
Time to complete:: 8 days
Cost to complete:: see comments
Name of Agency:
Comment:: The professional license may be obtained at a fee of 10% of the annual lease value plus a fixed fee, according to the table of activities (e.g., KMF 150,000 for a general wholesale retailer), plus 10% of said percentage and fee combined as an additional tax (centime additionelle commune).