Guide économique des Comores au format .pdf - Présidence de l ...

Photo BaraUnion des Comores 2003Guide économique14The promotion of investments (suite)Companies rightsg As the Comoros is a member of the Organisation forthe Harmonisation of Business Law in Africa ( OHADA),it is subject to the provisions of OHADA Uniform Actregarding the rights of trading companies and the economicinterest grouping.g The registration to the Trading Register and the personalproperty credit is subject to the payment of the7.500 cf registration fees which is the equivalent of 15euros. Regarding business operations, the registrationfees are calculated respectively according to the followingcalculation mode: 10% of the purchase price and3% of the rent price.g The trading companies can take the form of: tradingcompany referred as "unique partner", the general partnershipcompanies, the Simple limited PartnershipCompanies (SLPC), the limited liability companies andthe Limited companies (LC).g Any physical or moral individual can be a partner of atrading company, if they are not subject to a ban, incapacityor incompatibility with general trading law.g The minimum authorized capital should be 750.000cf,the equivalent of 1.524 euros for SLPC and 7.500.000cffor Limited Companies.g 1 person should be the minimum number of partnersfor a SLPC and for an Limited Company.g There are two kinds of SLPC in the Comoros:h Classical SLPC ( 5 people maximum)h Unique Partner SLPC.Investments guaranteeAs the Comoros cannot afford to be a member of theConvention on the establishment of the multilateral andInvestments Guarantee Agency (MIGA), it has specifiedin its Investment Code that the security of investments isguaranteed.g Article 16 (Title VI of the Code) stipulates that " theState cannot expropriate a private investment or appropriatethe totality or part of it, or take measures for thesame effect, unless for state-approved reasons regardlessof the nationality of the investor. In such a case, theexpropriation should be done in accordance with theprocedures in force and in return for a prior and appropriatecompensation".g The Comoros has subscribed to the provisions ofArticle VIII of the IMF statutes ensuring the free movementof current transfers.g The law provides for arbitration procedures in case oftrading conflicts.g In order to ensure legal impartiality, the OHADA whichthe Comoros is a member, has endowed itself with ajustice arbitration Court. It allows investors to resort to itin case they are not satisfied with the decisions taken bynational jurisdictions ruled as a last resort.Tax systemg Many tax benefits are granted through the investmentsCode, for the first 5 years of the setting up of theenterprise.g The investor with a 10 millions cf capital and who hascreated at least 5 jobs is exempt of the tax on benefitsor on the unique professional tax, on the registrationfees and stamps, on the transfer tax on the purchase ofpieces of lands or buildings necessary for the realisationof the investments, the tax on turnover and theconsumption tax on the building materials, equipmentsand raw materials.g Other tax benefits are planned for those who willinvest on strategic sectors such us agriculture and farmproduceindustry, fishing, tourism and the tertiary sector(Bank and transport).