Generalizes on the best strategy to enter the market, e.g., visiting the country; importance of relationships to finding a good partner; use of agents.
In person contact is key for doing business in Senegal. For most sectors, there are no laws requiring the retention of a local agent or distributor when exporting to Senegal. U.S. companies that retain an experienced agent or distributor (aware of Senegal’s business environment) are less likely to experience problems when entering the market. The U.S. Commercial Service can assist with finding potential local partners.
Once the decision to open a business in Senegal is made, the U.S. company will require legal counsel and a notary for all the legal steps associated with incorporation. The Embassy maintains a list of lawyers and notaries. Foreign enterprises with locally registered companies should immediately consult the Central Bank to find solutions and seek permissions to hold offshore bank accounts. It is advisable that U.S. companies approach firms specializing in financial and tax advisory services. Well-qualified representatives of major U.S. and international audit and business consulting firms operate in Senegal.