Once you have the resources necessary to begin the subsidiary establishment process, follow certain recommended practices to effectively traverse the local regulations.
1. Reserve Your Business Name
You must confirm and reserve your business name. There is no charge to reserve the name.
2. Investing Capital
Ascertain that you fulfill the minimum capital requirements and deposit the required amount in a bank. When you complete the transaction, get documentation of the deposit to provide to the Commercial Court in the next step.
3. File the Articles of Association.
You must take your company's articles of incorporation to a public notary and have both the documents and your proof of deposit authenticated. For authentication services, this procedure will cost 22,500 Comorian francs (KMF).
You must next submit your articles of association with the Ministry of Finance and pay a registration fee of KMF 16,000 as well as roughly KMF 500 in stamp duty for each page of the articles.
4. File an application with the Commercial Court
You'll need to register your firm with the Commercial Court, which will cost you about KMF 15,000 in registration and related expenses. For registration, please provide the following documents:
(a) Two copies of a list of your company's managers, colleagues, and administrators who are authorized to act on its behalf
(b) Your real estate title or lease
(c) A statement of your capital
(d) Certified copies of your statutes from the Financial Intelligence Unit (FIU)
(e) Each manager's criminal history
5. Get a Professional License
The Tax Administration requires a cost of 10% of your yearly leasing value plus a specified price to get your company's professional license. You may then get your business books legalized in court for KMF 1,000 per book.
6. Apply for Social Security.
During the startup procedure, you must register your firm for social security.