Comoros Corporate services

Introduction

When choosing a place for a company registration, you need to pay attention to a variety of factors and determine for yourself the most important and the most insignificant. Potential investors, venture capitalists and entrepreneurs should take account of the existing infrastructure in the Comoros when planning a new business. Island infrastructure can help make the business process smooth.

Types of businesses in the Comoros

It is possible to create four types of companies in the Comoros:

• Sole proprietorship or entrepreneur
• Sole proprietorship of the trader
• The limited liability company (SARL)
• The single-member limited liability company (SARLU)
• The Economic Interest Grouping (GIE)
• The Limited Company (SA)

International Business Companies

International Business Company Law

The International Business Company is under the Comoros act Registrar of International business companies under Act number: 17-008/03/IBC/AU, Law No 17/008/AU which sets the framework for the incorporation, regulation, and supervision of IBCs in The Union of the Comoros. The legislation is flexible, innovative and user friendly, and allows business to be carried out in an efficient manner.

Application for an IBC shall be submitted to the Registrar of International Business Companies on the prescribed application form together with the necessary due diligence documents below. The law states that companies registering or licensing in Comoros must appoint a local representative or registered agent, who in turn must have the specific authorization to engage in such business.

IBC requirements:

• CVs of all the directors
• Full contact details of the directors
• Reference for all the beneficial owners
• Clear certified passport copies of all beneficial owners
• Proof of addresses of Directors (utility bills)
• Legal document for the shareholding companies (articles, certificate of incorporation etc)
• Latest audited financial statements for all shareholding companies (if any)