Equatorial Guinea
An oil state in Central Africa: the CFA franc, uniform OHADA law and Spanish as an official language
Equatorial Guinea is a small state (just under 2 million people) on the Gulf of Guinea — the island of Bioko with the capital Malabo, and a mainland part with the port of Bata. The economy rests on oil, gas and methanol, though oil output has been falling since the mid-2000s. It is a member of the CEMAC monetary union — the Central African CFA franc is pegged to the euro (EUR 1 = XAF 655.957) — and of the uniform OHADA business law. Spanish, French and Portuguese are official languages. Since 1 January 2021 it has had no tariff preferences into the Union.
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Setting up a company
Setting up a company and tax are the part of the profile you cannot assemble elsewhere in an afternoon. The rest of the page is open.
- ·Legal forms
Taxes
Setting up a company and tax are the part of the profile you cannot assemble elsewhere in an afternoon. The rest of the page is open.
- ·Corporate income tax
- ·VAT
- ·Withholding tax — dividends
- ·Withholding tax — interest
- ·Withholding tax — royalties
- ·Payroll contributions
Money and payments
The Central African CFA franc (XAF), fixed at EUR 1 = XAF 655.957; issued by the BEAC central bank for the six CEMAC states.
Payments abroad follow the 2018 CEMAC foreign-exchange regulation: the bank asks for supporting documents, and exporters must repatriate export proceeds into the currency zone.
Importing into their market
The CEMAC common external tariff with four categories: 5, 10, 20 and 30 %.
Bringing their goods into the EU
No preferences since 1 January 2021: after graduating from the least-developed group (2017) its EBA access ended, and as an upper-middle-income country it does not qualify for standard GSP. Goods pay the ordinary EU tariff.
Practical matters
Spanish; French and Portuguese are also official.
By sea to Malabo (Bioko island) and Bata (the mainland).
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