Mauritania is an independent state occupying the western territories of Africa and washed by the waters of the Atlantic Ocean. The closest neighboring countries of the Islamic Republic of Mauritania are Algeria, the Sahara Arab Democratic Republic (SADR), Senegal, and Mali.
Among the leading sectors of the country’s economy: are agriculture (livestock, farming, fishing), mining (copper, iron, precious metals), the food industry (fish, shellfish, and other seafood), and tourism.
The capital of the state is Nouakchott. The largest cities in the country are Roso, Nouadhibou, Kiffa, and others. The national language is Arabic. The population is over 4.4 million people. The monetary unit of the state is the Mauritanian ouguiya (MRO). The climate is tropical (desert).
The Islamic Republic of Mauritania is a member of the Arab League, OIC, ACP, IMF, WTO, African Union, Arab Maghreb Union, and other organizations.
Benefits of Starting a Business in Mauritania
Even though in the ranking of the well-known financial publication Doing Business for the ease of doing business, Mauritania is only partially included in the top 100 countries (92nd place in obtaining building permits, 72nd place in ensuring the terms of contracts, and 46th place on registration of enterprises), this country has potential, and every year it only increases. Therefore, the idea of registering a company in Mauritania remotely is quite relevant.
The state authorities are showing enviable activity in attracting foreign investment, and developing and implementing more and more attractive business projects aimed at improving the economic situation.
For those who are going to register a company in Mauritania, we suggest that you familiarize yourself with the following advantages of this state:
- The favorable geographical location (presence of 2 large seaports);
- Established trade relations with China, UAE, USA, Switzerland, Spain, Italy, Japan, Morocco, and France;
- Smooth but stable economic development;
- More than 5 agreements on avoidance of double taxation with the countries of Europe, Asia, and Africa;
- Labor force available;
- Possibility to receive government grants;
- Free economic zone;
- Comparatively fast and easy business registration process.
If you are interested in registering a company in Mauritania, then in 2021 we advise you to start your own business in such areas as mining (oil, gas, gold), tourism, medicine, education, banking, service sector, light and heavy industry, food industry, IT technologies.
Types of companies
If you are planning to open a company in Mauritania remotely, then the first step is to choose the appropriate organizational and legal form. Among the key types of business that you can register in Mauritania, the following are worth highlighting:
Local limited liability company (Resident LLC);
Free Zone Company (FZC);
Representative Office (RO);
Branch (B).
Most entrepreneurs starting a business in Africa prefer a local limited liability company (Resident LLC) as well as a free zone company (FZC). If you want to register a company in Mauritania, please note that the first form of economic activity (Resident LLC) is universal and suitable for any kind of activity. As for the FZC, it is often registered for production and trade purposes (export of goods and services).
Conditions for starting a business
To set up a business in this jurisdiction, in particular, you will need to fulfill the following conditions:
- The unique name of the enterprise (several options, indicate OPF at the end);
- Number of directors: from 1 or more (individual/company);
- Number of shareholders: from 1 or more (individual/company);
- Resident status of directors/shareholders: any;
- Minimum authorized capital (required for incorporation): 3,500 USD;
- Opening an account for a company in a bank in Mauritania;
- Personal visit: optional.
Taxes in Mauritania
Registration of a company in Mauritania will require a thorough study of the specifics of taxation. For legal entities in this jurisdiction, the following types of taxes are provided:
Corporate tax is 25% (a rate reduction is permissible when registering a business in a free trade zone);
Capital repatriation tax from a branch of a non-resident company is 10%;
Value Added Tax: 0-16%.
