Streamlining the procedure for creation of LLCs in the OHADA space: Congo keeps up the momentum

• 05/05/2017
• 10605
• 4 commentaires

Congo, Decree No. 2017-41 of March 28, 2017.

The Articles of association of LLCs are established and amended either by authentic deed or by private deed and, where this is done by private deed, there is no obligation for filing record and carrying out recognition of handwriting and signature at the notary's office. In addition, the share capital is freely determined by the parties and the shares are paid up, as the case may be, by means of a notarial declaration of subscription and payment or by a declaration of payment supplemented by a declaration of regularity and conformity established under the founder's responsibility.

This is the substance of Decree No. 2017-41 of March 28, 2017 on the forms of articles of association and the making up of share capital for limited liability company in the Republic of Congo. This important text, which also defines the mandatory content of the articles of LLCs, adds to the list of other domestic instruments adopted pursuant to the Uniform Act of January 30, 2014 on commercial companies and economic interest groups and seeks to simplify the creation of companies in the OHADA member countries. As of date, 13 of the 17 Member States of OHADA have adopted laws to facilitate the creation of LLCs, namely: Benin, Burkina Faso, Cameroon, Chad, Congo, Côte d'Ivoire, Democratic Republic of Congo, Gabon, Guinea, Mali, Niger, Senegal and Togo.

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