Starting a business in Madagascar begins with choosing the right legal structure. In this episode, we break down the three most common company types—SARL, SA, and SCI—highlighting their advantages, requirements, and compliance obligations so you can make an informed decision.

What You’ll Learn in This Episode:

📌 SARL (Société à Responsabilité Limitée – Limited Liability Company)

• Ideal for small and medium-sized enterprises (SMEs).
• Requires at least one shareholder and director; liability limited to capital contributions.
• No minimum capital required.
• Auditor required if certain thresholds are met (capital, turnover, or workforce)

📌 SA (Société Anonyme – Public Limited Company)

• Designed for larger businesses or those raising significant capital.
• Requires at least one shareholder; no maximum limit.
• Minimum share capital: 10 million MGA (or 2 million for single-shareholder SA).
• Auditor appointment is mandatory; records must be in French.
• Suitable for future stock exchange listings.

📌 SCI (Société Civile Immobilière – Real Estate Company)

• Specialized for real estate ownership and management.
• Requires at least two partners with unlimited, joint liability.
• Offers tax flexibility: taxed under personal income (IR) or corporate income (IS).
• Useful for property co-ownership and succession planning.

Why Listen

Whether you’re an entrepreneur, investor, or expat exploring opportunities in Madagascar, understanding these company structures is critical for long-term success. This episode gives you the clarity you need to choose the right business vehicle.