| LLC | PLC | Free Zone Company | Branch Office | Rep Office | |
|---|---|---|---|---|---|
| Local Name | SARL | SA | Société en Zone Franche | Sucursale | Bureau de representation |
| Company Setup Time | 20 days | 20 days | 20 days | 25 days | 25 days |
| Bank Account Opening | Yes | Yes | Yes | No | No |
| Government Grants Available | Yes | Yes | Yes | No | No |
| Government Contracts Bidding | Yes | Yes | Yes | No | No |
| Legal Liability | No | No | No | No | No |
| Inquiry | Inquiry | Inquiry | Inquiry | Inquiry |
Corporate Structure Explained
Benin Limited Liability Company (SARL)
- An LLC needs at least one director and one shareholder who can be of any nationality. Shareholders can be either individual or corporate entities. The minimum share capital required is US$ 1 (FCFA1).
- An auditor must be appointed if the share capital surpasses US$ 18,000 or if the annual revenue exceeds US$ 45,000 or the staff exceeds 50.
Benin public limited company (SA)
- A minimum of three directors and one shareholder who can be corporate or individual are required.
- It is required a share capital of US$18,000. The minimum share capital increases to US$180,000 if the company is to be publicly traded. In this case, an auditor must be appointed.
Benin Branch
- A branch is not considered to be a separate entity from the parent company. The operations in Benin are defined by the parent company. It is required to appoint a director of any nationality.
Benin Representative Office
- Representative offices are not permitted to conduct direct profit making or commercial activities in Benin. However, its authorized to perform market research and promotional activities related to the parent company.