This country has significant reserves of minerals such as gold, copper and zinc. The government is trying to attract investment in the mining sector by simplifying the process of obtaining mining permits and providing tax incentives to mining companies. The manufacturing sector also offers potential opportunities for investors, particularly in areas such as textiles and clothing, food processing, and construction materials. The government is trying to promote the development of the manufacturing sector through initiatives such as providing financial assistance to small and medium enterprises.
Iran and Africa Business Club: Burkina Faso is a land-locked country in West Africa. It is surrounded by the six countries of Mali to the north, Niger to the east, Benin and Togo to the southeast, Ghana to the south, and Ivory Coast to the southwest. This country provides a good environment for business. The government of this country has implemented policies to make it easier for domestic and foreign investors to set up businesses. Each region is governed by a governor. The capital of this country is Ouagadougou and the official working language is French.
To register a company in Burkina Faso, do a trademark search before filing a trademark application with the Burkina Faso trademark office to determine the chances of registering your trademark in Burkina Faso. A trademark registered with the African Organization for Intellectual Property (OAPI), the African Intellectual Property Organization in English, in all seventeen (17) member countries of the Organization, namely: Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Comoros, Republic of Congo, Equatorial Guinea, Gabon, Guinea, Guinea-Bissau, Ivory Coast, Mali, Mauritania, Niger, Senegal and Togo are endorsed and supported. If you register a hybrid trademark (which includes both word elements and figurative elements) with OAPI, your exclusive right to use the trademark is limited to using the trademark in the exact configuration or manner in which it is registered. If you want to use the word element of your trademark separately from the logo (or vice versa), it is recommended that you register for another trademark that protects only the word or pictorial elements that you want to use separately. Although a trademark does not need to be in use in order to be registered, it must not remain unused for more than five years after registration, otherwise it will be vulnerable to cancellation actions based on non-use of the trademark. In order to avoid this, the use of the mark can be in any of the member states.
Working immigration to Burkina Faso
Educational migration to Burkina Faso
Immigration to Burkina Faso through investment
Immigrate to Burkina Faso through marriage
Step 1: Conduct market research.
Before starting any business, it is very important to conduct thorough market research to identify the demand for the product or service, the competition and the legal requirements for starting and running a business in Burkina Faso. This will help you make informed decisions and avoid costly mistakes.
Step 2: Select a business structure.
There are a number of business structures you can choose from when starting a business in Burkina Faso. Your choice of business structure depends on your business goals, the size of your business, and the level of responsibility you are willing to accept.
Step 3: Register Your Business Name
The next step is to register your business name in the Burkina Faso Business and Companies Registry. You must provide your proposed business name, its objectives, business location, and the names and addresses of the owners. You also need to pay the registration fee.
Step 4: Get the necessary permissions.
Depending on the nature of your business, you may need to obtain general licenses and special permits before you can begin operating. These may include business licenses, tax registrations, and local authority permits.
Step 5: Open a Business Bank Account
You need to open a business bank account in Burkina Faso in order to make payments, pay taxes and manage your business finances. To open a bank account, you must provide the necessary documents to the bank, including a business registration certificate, identification documents, and proof of address.
Step 6: Register for taxes
All businesses in Burkina Faso are required to register for taxes with the tax authority. You must obtain a Tax Identification Number (TIN) from the IRS.
Step 7: Recruiting employees
If necessary, you must comply with Burkina Faso labor laws if you intend to employ employees. You must register your employees with the National Social Security Fund and obtain work permits for foreign employees.
Step 8: Register with Social Security
As an employer, you must also register for social security with the National Social Security Fund. This allows you to provide social security benefits, including medical coverage and retirement plans, to your employees.
1- Private limited company.
2- Partnership Company.
3- Limited liability Company (LLC).
4- Joint stock company.
One of the main investment opportunities in Burkina Faso is in the mining sector. This country has significant reserves of minerals such as gold, copper and zinc. The government is trying to attract investment in the mining sector by simplifying the process of obtaining mining permits and providing tax incentives to mining companies. Several international mining companies such as Endeavor Mining, Roxgold and SEMAFO have invested in mining projects in Burkina Faso. Another opportunity is investing in the agricultural sector. The country has a favorable climate and fertile soil and is suitable for a wide range of crops such as cotton, sorghum and rice. The government is working to promote the development of the agricultural sector by providing financial aid to farmers and investing in infrastructure such as roads and storage facilities. The service sector is also growing in Burkina Faso, especially in areas such as telecommunications, banking and tourism. The government is trying to improve the country’s infrastructure and provide better access to finance to support the growth of the service sector. The manufacturing sector also offers potential opportunities for investors, especially in areas such as textiles and clothing, food processing and construction materials. The government is trying to promote the development of the manufacturing sector through initiatives such as providing financial assistance to small and medium enterprises.
1- Burkina Faso offers a wide range of business opportunities for investors in sectors such as mining, agriculture, services and manufacturing.
2- It creates a more favorable environment for investment.
3- Gold exports are increasing.
4- Average annual inflation is down to 4.9% in 2023, reflecting lower global oil and food prices, assuming the security situation does not deteriorate further.
5- If the security situation improves and the transition agenda is implemented, growth is expected to improve to 5.1 percent in the medium term by 2025.
6- By setting up a business in this country, you can enjoy some local tax exemptions.
For more information, you can contact the legal unit of the Iran and Africa Business Club every day and consult with our experienced lawyers. You can also fill out our legal advice request form and through that our advisors will check all your conditions and contact you and inform you the necessary solutions.