Algeria is Ready for New Business, and Here is a Good Place to Start
For a vast country like Algeria, its population mostly dominate the coastal area. Only about one-fifth of the country is populated. The rest of it makes up parts of the Sahara desert. Algeria is also rich in petroleum and is the third producer of natural gas. Also, business expansion in Algeria will bring prosperous development. Then, get into an Algeria company registration to find out more advantages for your business.
Interesting Facts About Algeria
Relatively modern, Algeria offers many business opportunities to choose from. The government of Algeria is working to diversify its economy. Hence, sectors such as tourism, agriculture, renewable energy and aquaculture are emphasized with policies and development programmes in the pipeline. It is also strategically located to be close to European, African, and Arab markets.
Algeria has high connectivity in terms of the extensive road network, railways, seaports and airports. Its intercity transportation network is made up of a Metro system and three tramways. Also, Algeria has a high population of qualified, young and competitive labour force. Education in Algeria is compulsory, and it offers vocational education as well as professional training for interested youths. Businesses investing in line with the national economy will receive tax exemption for a specific period as described in respective projects.
Algeria Company Registration
Let’s cut to the chase. Algeria also allows the incorporation of local and foreign company. But international companies are only allowed to have a representative office. A representative office is only allowed to manage the interests of the company and its subsidiaries. However, the Algerian government allows the incorporation of the following company types:
- Company in Collective Name. This is a partnership entity. It also requires a minimum of two partners. It requires no minimum capital amount.
- Simple Limited Partnership. This entity is made up of two types of partners. One is an active partner that runs the business, and a sleeping partner that is limited by their shareholding in the company.
A Limited Liability Company. The most common company registered in Algeria. The minimum capital is 100,000 Algerian Dinars. It must have one shareholder and one director. Then, if a foreigner is one of its shareholders, the foreign party can only hold a maximum of 49% shares. An Algerian must maintain the remaining balance.
- Limited Liability Uni-Personal Company. This is a sole proprietor company.
- Joint Stock Company. A minimum share capital of 1 million Dinars is required to register this company.
The steps involved in Algeria company registration are as the following:
- Check for available company name from the Centre National du Commerce (CNRC) or The Commercial Registry. It can be done online or in person. If the preferred company name is available, it can be registered online as well. The Commercial Registry will check the application and issue the certificate the same day.
- Then, a start-up capital must be deposited with a bank. The applicant will receive a deposit certificate.
- The company’s manager must have their valid identification notarised.
- The company’s documentation must be drafted and notarized. The signatories and a copy of the lease for the registered office must be submitted as well at the notary’s office.
- The applicant will next file the company registration with the CNRC. The registration fees vary according to the company’s capital.
- Next, the applicant pays the stamp duty to the Tax Authority and CNRC.
- Then, register for Income Tax and Value Added Tax (VAT) with the Tax Authority. The Tax Authority will issue a certificate of existence and tax card.
- The company now needs to register with the National Social Security for its employees.
- The company must make a company seal.
Properly Done From The Start
Therefore, the hydrocarbon and oil-rich country welcome foreign business that will help with their economic diversification. An Algeria company registration will help Algeria as much as it will help expand your business. Yet to ensure proper company registration, then do get in touch with us so that you can run the trade right away.