Côte d'Ivoire, also known as the Ivory Coast, is located in West Africa and borders the Atlantic Ocean. The country's economy is growing and has a large population as well as natural...
Read MoreCôte d'Ivoire, also known as the Ivory Coast, is located in West Africa and borders the Atlantic Ocean. The country's economy is growing and has a large population as well as natural resources like crude oil, palm oil, timber, and cocoa. It's an attractive location for companies looking to expand to Africa, but opening a location in Côte d'Ivoire isn't without its challenges.
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Côte d’Ivoire, also known as the Ivory Coast, is located in West Africa and borders the Atlantic Ocean. The country’s economy is growing and has a large population as well as natural resources like crude oil, palm oil, timber, and cocoa. It’s an attractive location for companies looking to expand to Africa, but opening a location in Côte d’Ivoire isn’t without its challenges.
You need to set up your Côte d’Ivoire payroll, examine your payroll options, and hire employees, all while running your company. Globalization Partners offers Côte d’Ivoire payroll outsourcing services to help take some of the stress of expansion off your plate. We can add your employees to our locally compliant payroll and act as the Employer of Record so that you can run your company without worrying about compliance.
Your employees operate under a Pay As You Earn (PAYE) system for which they pay throughout the year, and you are responsible for deducting taxes from pay. You should calculate income tax, public health insurance, social security, and other deductions straight from an employee’s paycheck and send them a net wage.
Employers are also responsible for contributing 25% of taxable profits as corporate income tax. You also have to pay an 18% VAT tax and ensure your employees are contributing the right amount of their gross income to stay compliant.
Your company has four main Côte d’Ivoire payroll options:
Before you set up your Côte d’Ivoire payroll, you have to establish a subsidiary in the country. However, the incorporation process can take up to a few months and will prevent you from hiring employees, adding them to your payroll, and giving out compensation and benefits. Globalization Partners eliminates this step-through Côte d’Ivoire payroll outsourcing. We have subsidiaries all over the world, including the Ivory Coast, and we can use those subsidiaries to help you start working faster.
Terminating an employment contract can often prove difficult in other countries. We recommend including entitlement and termination terms in all your employment contracts before examining your Côte d’Ivoire payroll options. Employers must notify employees of termination in writing, and employees are generally eligible for severance depending on how long they’ve worked for the company.
Globalization Partners has the team you need to help your expansion succeed. Contact us today to learn more about Côte d’Ivoire payroll outsourcing.
If you’re ready to grow your business, or you have questions about a specific country, complete the form. One of our experts will be in touch shortly.
