The Ivory Coast has a population of 26 million people, with key industries including agriculture, forestry, and mining. Payroll and labor requirements can be complicated in Ivory Coast, so it is vital to understand the regulations and stay up to date with changes to ensure compliance.
There are several business formations that can be set up in Ivory Coast including general partnerships, limited liability partnerships, private limited companies, and more. The corporate tax rate begins at 25% but can vary based on industry and branch operations. Tax payments are typically collected throughout the year.
Some labor and payroll requirements to consider:
- Minimum wage varies by profession but cannot be lower than 36,607 CFA Francs per month
- Employers must pay payroll tax
- Social security contributions are withheld from employee pay
- Employers must contribute to social security
- Social security and tax contributions for employees must be sent to the Caisse Nationale de Prevoyance Sociale (CNPS)
- Foreign workers must have a residency and work permit provided by the Ministry of Security
Blue Marble can help simplify your operations and payroll in Ivory Coast, with cloud-based technology and customized reporting. Our easy-to-use technology gives you real-time views into your payroll across all countries and currencies, so you can stay ahead of regulations and spot trends. We provide a US-based service team and direct access to in-country experts to help when questions come up. Talk to us today about simplifying your payroll in Ivory Coast.