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OHADA- Business law – 16 countries harmonized their business laws package June 20, 2009

Posted by iogateway in Investor Guide, Law.
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Since the last november 16 countries agreed to harmonize their business laws.


Benin
Burkina Faso
Cameroon
Central African Republic

Comoros
Congo
Ivory Coast
Gabon

Guinea
Bissao Guinea
Equatorial Guinea
Mali

Niger
Senegal
Chad
Togo

RDC (Adhésion en cours)
la création de la commission de normalisation comptable
l’élaboration, l’harmonisation et l’actualisation des normes comptables par rapport aux normes Ias, Iferes’
la coordination et la synthèse des recherches théoriques et méthodologiques relatives à la normalisation comptable et à l’application des règles comptables et d’élaborer tout projet de reformes des règles comptables et projet de normes comptables sectorielles
le seul cabinet ‘‘3A Comores’’ [/i]ouvert ‘‘[i]à toutes les difficultés du monde à se maintenir, obligé de réduire nos activités estimant que l’environnement est dissuasif’’, aussi bien au niveau de l’administration fiscale que du système bancaire.
Il lance un appel pour que ‘‘l’Etat Comorien crée un environnement favorable à l’installation et au développement de plusieurs cabinets d’expertise comptables[/i]’’, en adoptant ‘‘[i]dans leur politique économique, une vision fiscale claire aussi bien au niveau fédéral qu’au niveau insulaire[/i]’’. “[i]Le développement des Comores est indissociable de la ratification de ces diverses conventions internationales[/i]” car elle “[i]oblige l’Etat à respecter certaines choses, à faire preuve de convergence macroéconomique en termes uniformisation du droit et à respecter des nomes communément admises en termes de déficits budgétaires, de maîtrise de l’inflation et de bonne gouvernance

Missions statements are:

-  creating accounting normalization commissiong

- eloborating, hormonizing and updating accounting standards regarding the Ias, Iferes standards.

- Coordinating cutting edge methods in relation with sectorial accounting standards.

3A Comores – comorian accounting structure advises the comorian government to encourage accounting companies to set up in, to complete the business legislation in accordance with its international agreements in order to tackle inflation (4,5 % in 2008) and set up best practices in terms of better governance.

How to stimulate investment in Comoros? May 24, 2009

Posted by iogateway in Investor Guide, Research development innovation.
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How to stimulate investment in Comoros by Youssouf BOINA lawyer

Younoussa Boina suggests to extend  Investment in Comoros package laws by bringing up two major development axes:
- signing up international agreements with COMESA, OHADA in order to integrate business environment to internationl standards.
- reinforcing national legislation dedicated to business law.
All bone of contentions must be solved and guaranteed by the both.
He notes that amoung the major benefits of the investment package laws we can distinguish: freedom on establishing or setting up companies and freedom on choosing sectors. He promotes that all investments must be accurated with all international standards regarding ( non white money, atteinte à la securité national….objctifs de develo econ. He supports the nationa agency for promoting investment in comoros. By the way he insistes to controll the NAPIC by avoiding too much collateral bureaucracy. He would like too much incentive for the free taxes zones where developments employment seem be strategic. tourism, fishing industry and agriculture according to the world bank;
encouraging joint venture by associating local entrepreneur and foreign entrepreneur.
superimposition of three legal source: french, indigenous and islamic. In conclusion, the lawyer suggests complete the package by reassuring investors in case of legal dispute which juridiction will be capable to mediate.

Younoussa Boina suggests to extend  Investment in Comoros package laws by bringing up two major development axes:

- continuing to sign up international agreements with COMESA, OHADA in order to integrate local  business laws to internationl standards.

- reinforcing national legislation dedicated to business laws.

All bone of contention must be solved and guaranteed by the both. He notes that amoung the major benefits of the investment package laws we can discern: freedom on establishing or setting up companies and freedom on choosing sectors. He insists that all investments must be accurated with all international and bilateral agreements and comorian legistlation regarding ( laundering of money, struggling against crime) . He supports the national agency for promoting investment in comoros – NAPIC. By the way he insistes to controll the NAPIC by avoiding too much collateral red tap. He would encourage more  incentives for the free taxes zones where development of employment seems be strategic such as tourism, fishing industry and agriculture according to the world bank recommendations.

In other hand encouraging  joint venture by associating local entrepreneurs and foreign entrepreneurs.  Superimposition of three legal sources: french, indigenous and islamic  must be logical with bilateral-international-local legislation. In conclusion, the lawyer suggests to complete business laws by reassuring investors in case of legal dispute which juridiction will be capable to mediate.

All you have to know before investing in Comoros May 13, 2009

Posted by iogateway in Business Opportunities.
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investing_comoros The land is very beautifull, probably the most cutefull isles in the world, grand lagoons and the biggest volcano in the world. I try to be objective by showing advantages and some risks.

Investing is not just rational process, we have a huge part of affection. As wedding, you have to know opportunities and risks regarding your fiancé(e). What’s about Comoros ?

Union of comoros has signed multilateral, bilateral and exclusive agreements with several internationa organizations: IMF, African Union, Arab League, Indian Ocean Commission, COMESA, SADC, EU, OHADA.  Comoros is member of the franc zone which bring up monetary stability regarding the EURO. The national legislation ensures that all investors can benefit all advantages without discriminations in order to encourage Foreign Direct Investment.

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