One-man Limited Liability Company

A one-man limited liability company (SUARL) is a commercial company in which the shares are held by a single partner.

Why choose a SUARL ?

Unlike sole proprietorships (EI), the SUARL is a form of company which allows to limit the responsibility of the sole partner to the amount of his contributions.

Documents to be provided for the creation

  • Individuals
  • A copy of the national identity card or passport of the partners (foreigners or Senegalese)
  • The criminal record of the manager dating less than 3 months (the criminal record of the country of origin for foreigners)
  • The marriage certificate (if applicable)
  • Marital status (for foreigners)
  • Legal entity
  • The RCCM (foreigners or Senegalese)
  • The NINEA (foreigners or Senegalese)

Documents received after creation

  • Statutes and declaration of regularity and conformity
  • Registration in the Trade and Personal Property Credit Register (RCCM)
  • Registration with NINEA
  • Declaration of existence
  • Declaration of establishment
  • Published in the Senegalese journal of legal notices

Benefits

  • A SUARL does not need to find other partners to create it.
  • Its transformation into a SARL is simplified when the creator wants to associate with other people.
  • The liability of the creator is limited to the amount of his contributions. The personal assets of the partner are protected.
  • The amount of the share capital is free.

  • A SUARL can choose to be taxed not under the Income Tax, but under the Corporate Tax.

Drawbacks

  • The SUARL resides in its cumbersome operation.

  • The creation of a SUARL requires the drafting of articles of association that set out the precise rules of the company's operation.
  • In the same way, all the decisions of the sole shareholder are referenced in minutes and transcribed in a register.