Onboarding requirements

Introduction

This page sets out the documents Luo requests when opening a business account, as part of our verification obligations (KYB, KYC) and our anti-money laundering and counter-terrorist financing (AML/CFT) obligations.

Requirements are listed country by country for West Africa (Côte d'Ivoire, Benin, Togo, Burkina Faso, Mali, Senegal, Niger, The Gambia) and Central Africa (Cameroon, Republic of the Congo, Democratic Republic of the Congo). For each country, you will find the accepted documents, where to obtain them, and the usual processing times and costs.

Document categories

For each country, documents are grouped into five categories:

1. Identity documentProof of identity, nationality and citizenship.
2. Registration documentsDocument confirming that the company is properly registered.
3. Shareholding structureDocument showing the company's shareholding structure and the share of capital held by ultimate natural persons (beneficial owners holding at least 25%).
4. Proof of addressDocument confirming the exact, current address of the company and, where applicable, of its directors.
5. Source of fundsDocument evidencing the origin and availability of the funds used by the company, its shareholders or directors (share capital, business financing). These documents must be less than 3 months old.

Côte d'Ivoire

Identity document

Accepted documents

• National identity card (CNI)
• Resident card
• Consular card
• Passport
• National identity card from a WAEMU country

Where to obtain

ONECI, consulate or embassy

Processing time

Varies by issuer and document type

Cost

Varies by document type

Registration documents

Accepted documents

• RCCM (Trade and Personal Property Credit Register)

Where to obtain

At incorporation: CEPICI one-stop business formalities desk (Côte d'Ivoire Investment Promotion Centre)Up-to-date RCCM extract: registry of the Abidjan Commercial Court, or online

Processing time

Initial registration: 24 to 72 hoursUp-to-date RCCM extract: 24 to 48 hours

Cost

Registration: approx. 40,000 to 65,000 FCFA depending on legal form and capitalStandard RCCM extract: approx. 5,000 to 10,000 FCFA

Shareholding structure

Accepted documents

• DFE (tax declaration of existence)
• Articles of association
• Shareholder register
• Share purchase certificate
• FIBE (beneficial ownership identification form, filed with the tax authority or Commercial Court)

Where to obtain

DFE: issued by the tax authority (DGI) at tax registration, through the CEPICI one-stop deskArticles of association: drawn up at incorporation (notarised or private deed), held in the RCCM file and by the companyShareholder register and share purchase certificates: internal records kept by the companyFIBE: filed by the company with the Commercial Court registry

Processing time

DFE: issued with registration (24 to 72 hours)Articles of association and shareholder register: available immediatelyFIBE: processed within a few business days

Cost

DFE: free (included in registration)Articles of association: variable, often 50,000 to 150,000 FCFAFIBE: not published

Proof of address

Accepted documents

• Certificate of residence (for the director or directors)
• Lease agreement
• SODECI, CIE or other utility bill

Where to obtain

Certificate of residence: town hall or sub-prefecture of the place of residenceLease agreement: signed with the landlord or agency, then registered with the tax authority (DGI)SODECI (water) or CIE (electricity) bills: customer portal or branch

Processing time

Certificate of residence: 24 to 48 hoursBills: immediate

Cost

Certificate of residence: approx. 2,000 FCFA (stamp duty)Bills: no additional cost

Source of funds

Accepted documents

• Bank statement
• Bank certificate of share capital deposit or blocking
• Proof of transfer
• Loan or financing agreement
• Certified financial statements or balance sheet
• Detailed service agreement (nature, amount, duration)

Documents must be less than 3 months old.

Where to obtain

Capital deposit certificate and statements: bank holding the account of the company or partnerExternal financing: loan agreement from the lender (bank, shareholder, microfinance institution)

Processing time

Capital deposit certificate: 24 to 48 hours after the depositAccount statement: immediate to a few days depending on the bank

Cost

Free

Benin

Identity document

Accepted documents

• Biometric national identity card (CNIB)
• Personal identification certificate (CIP) for nationals
• Passport
• Consular card, residence permit, e-visa or resident card for foreign nationals

Where to obtain

ANIP (National Agency for the Identification of Persons), online at eservices.anip.bj or in a branch, using the NPI number

Processing time

NPI certificate and CIP: generally immediate online after paymentPhysical CNIB: additional processing time

Cost

Variable

Registration documents

Accepted documents

• RCCM, issued in a single file together with the IFU (tax identification number), the CNSS employer number and the DGT declaration

Where to obtain

Online one-stop desk monentreprise.bj (APIEx, Investment and Export Promotion Agency)

Processing time

3 business hours for initial registration (digital certificates with QR code)

Cost

Sole establishment: 10,000 FCFASARL and SUARL: 22,000 FCFASA, SAS, GIE, SCI, SCP, branch, representative office: 37,000 FCFARe-registration: 5,000 FCFA

Shareholding structure

Accepted documents

• Articles of association (notarised or private deed)
• Payment slip or schedule of contributions
• Beneficial ownership register included in the RCCM file

Where to obtain

Articles of association: generated or filed through monentreprise.bj (private deed for SARL and SUARL, notary required for other legal forms)Beneficial ownership register: published by APIEx

Processing time

Private-deed articles: included in the 3 business hoursNotarised articles: depends on the notary

Cost

Included in the registration cost (10,000 to 37,000 FCFA)Notary fees charged separately

Proof of address

Accepted documents

• Certificate of residence (ANIP)
• SBEE (electricity) or SONEB (water) bill
• Lease agreement

Where to obtain

Certificate of residence: ANIPBills: SBEE or SONEB customer portal

Processing time

Certificate of residence: variableBills: immediate

Cost

Not published

Source of funds

Accepted documents

• Payment slip (share capital deposit)
• Bank statement
• Bank certificate of capital blocking
• Detailed service agreement (nature, amount, duration)
• Financial statements

Documents must be less than 3 months old.

Where to obtain

Bank, at the time of the capital deposit (mandatory depending on the legal form); document attached to the RCCM file

Processing time

Immediate to a few business days

Cost

Generally free or standard bank fees

Togo

Identity document

Accepted documents

• Ordinary passport
• Togolese certificate of nationality
• Consular card (ECOWAS)
• Residence card (outside ECOWAS)
• National identity card

Where to obtain

Passport: DGDN (General Directorate of National Documentation), via service-public.gouv.tgNational biometric programme: ANID (online pre-registration, then enrolment)

Processing time

Passport: at least 2 weeksOther documents: variable

Cost

Passport: 30,000 FCFABiometric pre-registration: freeNational identity card: variable

Registration documents

Accepted documents

• RCCM, in the form of the single business creation card (RCCM, tax number and CNSS number)

Where to obtain

Business Formalities Centre (CFE), one-stop desk at the Togo Chamber of Commerce and Industry (CCIT), online at cfetogo.tg or via service-public.gouv.tg

Processing time

10 to 30 minutes for a company (incorporation announced in under 4 hours)

Cost

Company: 28,250 FCFA (nationals and ECOWAS) or 33,250 FCFA (outside ECOWAS)Sole proprietorship: 25,400 FCFA or 30,400 FCFA

Shareholding structure

Accepted documents

• Articles of association
• Beneficial ownership declaration filed with the CFE
• Beneficial ownership register (RBE, app.rccm.tg/rbe)

Where to obtain

Articles of association: drawn up by a notary or lawyerRBE declaration: at incorporation or when changes are filed with the CFE

Processing time

RBE declaration: same timeframe as the business creation cardNotarised articles: depends on the notary

Cost

Articles of association: variable feesThird-party RBE access: 10,000 FCFA (single access) or 500,000 FCFA (annual subscription)

Proof of address

Accepted documents

• Certificate of residence (town hall or neighbourhood chief)
• Lease agreement
• Water (TdE) or electricity (CEET) bill

Where to obtain

Certificate of residence: request made to the local municipalityBills: TdE or CEET customer portal

Processing time

Certificate of residence: varies by municipalityBills: immediate through the customer portal

Cost

Certificate of residence: varies by municipalityBills: no additional cost

Source of funds

Accepted documents

• Bank statement
• Bank certificate of share capital deposit or blocking
• Proof of transfer
• Loan agreement
• Financial statements
• Detailed service agreement (nature, amount, duration)

Documents must be less than 3 months old.

Where to obtain

Togolese commercial banks (BCEAO and WAMU AML/CFT regulations); share capital must be deposited with a bank before registration (OHADA rule)

Processing time

Generally 24 to 48 hours depending on the bank

Cost

Generally free or minimal bank fees

Burkina Faso

Identity document

Accepted documents

• CNIB (Burkinabe national identity card)
• Passport
• Consular or resident card (foreign nationals)
• National identity card from a WAEMU country

Where to obtain

ONI (National Identification Office) or town halls, with a birth certificate or substitute court ruling, a certificate of nationality and tax stamps

Processing time

2 to 3 weeks

Cost

2,500 FCFA (tax stamps)

Registration documents

Accepted documents

• RCCM (Trade and Personal Property Credit Register)

Where to obtain

CEFORE (Business Formalities Centre), one-stop desk of the Maison de l'Entreprise du Burkina Faso (MEBF), in Ouagadougou, Bobo-Dioulasso and 14 regional offices

Processing time

Legal entities: 24 to 48 hours (initial registration)Individuals: 3 to 14 business days

Cost

Legal entities: 47,500 FCFAIndividuals: variable

Shareholding structure

Accepted documents

• Articles of association
• Minutes of the constitutive general meeting
• DSV (subscription and payment declaration) or DRC (declaration of regularity and compliance)
• RBE (beneficial ownership register)

Where to obtain

Articles, minutes, DSV and DRC: filed with CEFORERBE: completed on rbe.gov.bf (Ministry of Justice)

Processing time

Articles and minutes: included in the CEFORE timeframe (24 to 48 hours)RBE: variable

Cost

Not published

Proof of address

Accepted documents

• Commercial lease registered with the tax authority
• Land title
• Urban residence permit
• Plot allocation certificate
• Water (ONEA) or electricity (SONABEL) bill

Where to obtain

Lease: registered with the tax authority (DGI)Bills: ONEA or SONABEL customer portalDocuments included in the RCCM file filed with CEFORE

Processing time

Included in the CEFORE timeframe (24 to 48 hours)Bills: immediate

Cost

Lease and registration: variableBills: no additional cost

Source of funds

Accepted documents

• DSV (share capital subscription and payment declaration)
• Bank certificate of capital blocking
• Bank statement
• Loan agreement
• Detailed service agreement (nature, amount, duration)
• Financial statements

Documents must be less than 3 months old.

Where to obtain

Domiciliation bank, at the time of the share capital deposit (minimum capital for an SARL lowered to 5,000 FCFA in 2016); document submitted to CEFORE

Processing time

Included in the CEFORE file (24 to 48 hours)

Cost

Generally free; bank fees vary by institution

Mali

Identity document

Accepted documents

• NINA card (national identification number)
• Consular card
• Passport
• National identity card from a WAEMU country

Where to obtain

General Directorate of the National Police, RAVEC civil registration centres, consulate or embassy

Processing time

Varies by enrolment centre

Cost

Varies by document

Registration documents

Accepted documents

• RCCM (Trade and Personal Property Credit Register)

Where to obtain

At incorporation: API-Mali one-stop desk (Investment Promotion Agency of Mali)RCCM extract: registry of the Bamako Commercial Court

Processing time

RCCM extract: generally 24 to 72 hours

Cost

Not published

Shareholding structure

Accepted documents

• DFE or declaration of existence (tax authority)
• Notarised articles of association
• RBE (beneficial ownership register)

Where to obtain

Declaration of existence and stamped application: tax office or API-Mali one-stop deskArticles of association: drawn up by a notaryRBE: filed with the RCCM registry

Processing time

Declaration of existence: processed with the tax number, within 48 hoursArticles and RBE: variable

Cost

Stamped application: 200 FCFA (tax stamp)Tax number: freeArticles and RBE: variable

Proof of address

Accepted documents

• Certificate of residence (town hall)
• Lease agreement or certificate of domiciliation
• Water (SOMAGEP-SA) or electricity (EDM-SA) bill

Where to obtain

Certificate: local town hallLease: registered with the tax authority (DGI)Bills: SOMAGEP or EDM customer portal

Processing time

Certificate of residence: generally 24 to 48 hoursBills: immediate

Cost

Not published

Source of funds

Accepted documents

• Bank statement
• Bank certificate of share capital deposit or blocking
• Proof of transfer
• Loan agreement
• Financial statements
• Detailed service agreement (nature, amount, duration)

Documents must be less than 3 months old.

Where to obtain

Malian banks supervised by the BCEAO (BDM-SA, BMS SA, BNDA, Ecobank Mali, Coris Bank, etc.)

Processing time

Capital blocking certificate: generally 24 to 48 hoursStatement: immediate to a few days

Cost

Generally free or minimal bank fees

Senegal

Identity document

Accepted documents

• ECOWAS biometric national identity card
• Consular card
• Passport
• National identity card from a WAEMU country

Where to obtain

Directorate of File Automation (DAF), Ministry of the Interior, or embassies and consulates

Processing time

Varies by office, generally a few weeks

Cost

Not published

Registration documents

Accepted documents

• RCCM (Trade and Personal Property Credit Register) and NINEA (national identification number for businesses and associations)

Where to obtain

At registration: Business Creation Office (BCE), APIX one-stop deskRCCM extract: Commercial Court registry

Processing time

Sole proprietorship or GIE: 48 hoursSARL or SA: 24 hours (Orbus-entreprise platform, through a notary)

Cost

Sole proprietorship: 10,000 FCFA (without trade name) or 21,000 FCFA (with trade name)GIE: 52,000 FCFASARL and SA: variable notary fees

Shareholding structure

Accepted documents

• Notarised articles of association
• Minutes of incorporation
• Declaration of compliance
• RBE (beneficial ownership register, AML/CFT Law No. 2018-03)

Where to obtain

Articles of association: notary (list available on investinsenegal.sn)RBE: filed with and held by the Commercial Court registry

Processing time

Articles and registration: 24 to 48 hours through the BCERBE: variable

Cost

Articles of association: notary fees vary with capitalRBE: not published

Proof of address

Accepted documents

• Certificate of residence
• Lease agreement
• Water (SDE) or electricity (SENELEC) bill

Where to obtain

Certificate: police station or town hallLease: registered with the tax authority (DGID)Bills: SENELEC or SDE customer portal

Processing time

Certificate: generally 24 to 48 hoursBills: immediate

Cost

Certificate: approx. 2,000 FCFABills: no additional cost

Source of funds

Accepted documents

• Bank certificate of share capital blocking (company in formation account)
• Bank statement
• Proof of transfer
• Financial statements
• Detailed service agreement (nature, amount, duration)

Documents must be less than 3 months old.

Where to obtain

Depositary bank or notary (capital deposit, released after RCCM registration)

Processing time

Certificate: 24 to 48 hoursRelease of funds: immediately after RCCM registration

Cost

Generally free (standard bank fees may apply)