Comoros is an archipelago located in the Indian Ocean, between Madagascar and the coast of East Africa. The archipelago consists of three main islands: Grand Comor, Anjouan and Moheli, as well as several smaller islands. Grand Comor is the largest and most populated island, with the capital Moroni as the main city.
The geographical location of the Comoros makes them strategically important for international trade. The islands are located on important sea routes connecting Africa, Asia, and Europe. This allows companies registered in the Comoros to have access to the markets of these regions, as well as reduce transportation costs.
The economy of the Comoros is predominantly agricultural, but in recent years there has been growth in the tourism. The government actively supports the development of offshore business, offering favorable conditions for foreign investors, including a reduced tax rate and no income tax for companies operating outside the Comoros.
Legal opinion on Comoros as a Jurisdiction for Company Formation
Ganna Voievodina
Manimama
|
CEO
“The Comoros is an attractive jurisdiction for business registration, offering a favorable tax environment, strategic geographical location, simple company registration procedures and a high level of confidentiality. The government supports foreign investors through flexible regulation, creating optimal conditions for business development and access to international markets. Manimama is ready to assist you in registering a business in the Comoros and take advantage of all the benefits of an offshore jurisdiction.”
Our Packages
Our comprehensive packages simplify the process of creating the perfect legal entity for your business, whether you are a small startup, non-profit or multinational. We will guide you through every step of the way, ensuring that your business starts on a solid foundation.
Company Formation
- Company formation
- Registered address for the 1st year
- Annual accounting requirement bookkeeping
Annual Services
- Company renewal and registered address
- Annual Government Tax
- Mandatory Financial Beneficiary Report
Other Services
- Set of corporate documents (certified/apostille)
- Nominal service for 1 year
- Offshore banking
Key Numbers about Incorporations
аt least 1director in the company |
2 weeksaverage term of company formation |
35-50%corporate income tax (CIT) rate |
0-30%personal income tax (PIT) rate |
0-25%value-added tax (VAT) rate |
Set up Your Company in the Comoros in Several Steps
- Step 1. Initial setup
- Initiating a preliminary project assessment
- Preparation and filing of the package of documents
- Step 2. Company registration
- Choosing a suitable corporate entity
- Reserving of the company name
- Preparation of registration documents
- Submitting documents to the Comoros Corporate Registry of the Registrar General's Department
- Opening a bank account
- Obtaining business licenses (if applicable).
Requirements for Company Formation in the Comoros
Before deciding to set up a new company in Comoros, read the information below to understand the characteristics of an International Limited Liability Company (LLC):
The type of company is a Limited Liability Company.
Number of directors/shareholders - minimum of 1 director/shareholder.
Share capital - the minimum share capital for a LLC is 750,000 KMF ($1,670 USD as of October, 2024).
Liability - the liability of its shareholders is limited to the amount of capital they have invested in the company through their shares.
Accounting - companies must register with the Ministry of Finance for a tax identity number and file annual tax returns alongside financial statements confirming income sources and tax obligations. No required audits.
Taxes in the Comoros
Corporate income tax (CIT)However, specific tax regulations in Comoros may have exemptions and deductions that vary based on employment status and source of income.
However, tax rates can be adapted for certain categories of goods or services.
Double taxation avoidance agreements in the Comoros: Comoros has a limited number of double taxation agreements (DTAs) with most countries. So far, Comoros has signed only a few DTAs, and these agreements may not cover most of its major trading partners.
Start Your Company Formation Process with Manimama
There are numerous reasons why Manimama is the leading company formation agent in the Comoros:
Expertise in the Comoros Regulations
- 1. Manimama has an in-depth understanding of the legal and regulatory framework of the Comoros.
- 2. Our team ensures all legal requirements are meticulously met for a seamless company formation process.
Local and International Experience
- 1. With extensive experience in both local and international markets, Manimama can cater to a diverse range of business needs.
- 2. Our expertise spans various industries, providing customized solutions for each client.
Efficient and Timely Service
- 1. We pride ourselves on our swift turnaround times, ensuring your company is registered promptly.
- 2. Our efficient processes minimize delays and get your business up and running quickly.
Client-Centric Approach
- 1. Manimama prioritizes customer satisfaction by offering personalized support and guidance.
- 2. Our dedicated team is always available to address any concerns and provide expert advice.
Robust Network of Local Partners
- 1. We have established strong relationships with local authorities, banks, and service providers.
- 2. This network ensures that your business receives the best possible support and resources.
Ongoing Compliance Support
- 1. We provide continuous support to ensure your business remains compliant with the Comoros laws.
- 2. Our team keeps you updated on any regulatory changes that may impact your company.
Frequently Asked Questions
-
What is the most popular type of company that can be formed in the Comoros?The most popular type of company in Comoros is Limited Liability Companies (LLC).
-
How long does it take to register a company in Comoros?The process usually takes 2 weeks, depending on the completeness of the documentation and the type of business.
-
Is there a residency requirement for directors or shareholders of a company?In Comoros, there is no specific residency requirement for directors or shareholders of companies.
-
Is a physical office required in Comoros?Yes, companies typically need to have a registered office in Comoros
-
Are there any tax benefits?Comoros offers a tax-friendly environment for international businesses.
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Where can I find additional resources and assistance?Additional resources and assistance can be found through the Ministry of Finance and Budget of the Union of the Comoros.
Semen Kaploushenko
“Thanks to the Manimama team, my legal issues were resolved at the highest level”.
Vadym Grusha
“My cooperation with Manimama OU was extremely positive”.
Yuriy Soshenko
"The whole process was stress-free thanks to their professional work and individual approach”.
Manimama as the Best Solution for Your Company Formation in Comoros
By choosing our company formation service in Panama, you are partnering with a law firm that values integrity, expertise, and client satisfaction. Let us help you set up your company in Panama and pave the way for your business success.
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