Corporate Law at Mauritania
Certainly! Here’s an overview of Corporate Law in Mauritania:
Corporate Law in Mauritania
Legal Framework:
Corporate activities in Mauritania are mainly regulated by:
The Commercial Code of Mauritania
The Law on Companies (Sociétés), which outlines different corporate forms
Other sector-specific laws and regulations
Mauritania’s legal system is influenced by French civil law.
Types of Business Entities:
Société Anonyme (SA) — Joint Stock Company:
Most common form for larger businesses.
Share capital divided into shares.
Liability limited to contributions.
Requires a minimum number of shareholders (usually 7 or more).
Société à Responsabilité Limitée (SARL) — Limited Liability Company:
Suitable for small to medium businesses.
Liability limited to capital contributions.
Minimum of 2 and maximum of 50 shareholders.
Société en Nom Collectif (SNC) — General Partnership:
Partners have unlimited joint liability.
Sole Proprietorship:
Owned and managed by one individual, unlimited liability.
Branch of Foreign Company:
Foreign companies can operate through branches but require registration.
Company Formation:
Companies must be registered at the Commercial Registry (Registre du Commerce).
Necessary documents include statutes, proof of capital, identification of shareholders, and appointment of directors.
Public companies (SA) must appoint a board of directors and comply with more stringent regulations.
Foreign Investment:
Foreign investors can own companies fully or partially.
Certain sectors may require government approval or have restrictions.
Investment incentives exist but are sector-specific and often linked to development goals.
Corporate Governance:
SA companies have a board of directors and hold shareholder meetings.
LLCs (SARL) are typically managed by one or more managers appointed by shareholders.
Annual accounts and financial statements must be prepared and submitted.
Mauritanian law provides protections for minority shareholders, although enforcement may vary.
RELATED Blog
0 comments