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Understand the Jurisdictions Setup Requirement Before Proceed Your Madagascar Company Incorporation Services

Madagascar Company Incorporation Services It’s not only the enchanting wilderness and animated movies, that make Madagascar popular. The island country offers investors various opportunities with its renewed efforts to attract foreign investors to its shores. And if you’re looking to form a company in Madagascar, it is sensible to engage a Madagascar company incorporation services right from the start.

Although Madagascar is an island country, it has a vast market, and enables low-cost company incorporation and operations. The island’s economy is run primarily through agriculture as local agriculture yields are comparatively more than their neighbouring countries. Thus, it’s a great destination for investors looking to explore agriculture export opportunities.

Currently, Madagascar is the second largest vanilla exporter in the world. It also exports other products such as shrimp, cloves, peppers, sugar, and textiles. But its mainstream economic contributor is tourism, with a wide range of tourist spots available from the highlands, to the tropics, island adventures, and even deserts.

 

Business Legal Forms

The business environment in Madagascar is emerging, with plenty of private companies forming everyday. Interested foreign investors have several options for company types to incorporate in Madagascar. A Madagascar company incorporation services will advise which business legal entity would suit your business nature.

The available business legal forms are:

  • Sole proprietorship.
  • Limited liability company.
  • Public limited company.
  • General partnership.
  • Simple limited partnership.
  • Civil society.
  • Economic interest grouping.
  • Foreign law company.

Given the common names, most business owners are familiar with the first five company types.

A civil society is a partnership formed by two partners in which the company’s activities are purely civil and do not have any commercial transactions. An economic interest grouping is similar to civil society, except it is a group of companies banded together to form a company interested in non-commercialisation activities, with each company having unlimited liability. A foreign law company is a branch or a liaison office of a foreign company.

 

The Entrepreneur’s Popular Choice

Any investor in a foreign market or country would desire to incorporate the least complex business entity. A low-cost initial fee makes Madagascar appealing to investors. Business owners may consider a country’s taxation regime before deciding on a legal entity. But, the government has attracted many investors by allowing foreign nationals to incorporate a limited liability company.

A limited liability company in Madagascar is called a Société à responsibilité limitée (SARL). The government of Madagascar allows an individual to incorporate a SARL, and the local regulations set no minimum capital. A manager who could be the shareholder can manage the SARL. If the SARL has several shareholders, the shareholders can also appoint a third party to manage the company. There is only a need to appoint an auditor if the annual turnover is more significant than MGA 200 million, with a permanent employee of 50 people, and the capital is more than MGA 20,000,000.

A sole proprietor and a public limited company are the other common choices for company incorporation. If you are undecided, speak to your Madagascar company incorporation services to know what else is available if you decide to invest in Madagascar.

Madagascar Company Incorporation Services

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