Doing business in Comoros

Comoros is a place where there is an ever increasing opportunity to do business. For obvious reasons it's not the same as doing business in Europe and until very recently there was no reason for anybody to do business in Comoros but the government have made an effort to change that. They have realized that it is going to take foreign investment to develop the country. The result is new opportunities for companies that want to do business in Comoros.

Comoros is an Archipelago in the Indian Ocean off the coast of Africa. There are three islands that make up the country, there are actually four islands but one chose to remain a part of France. The other three islands achieved their independence in the seventies. The country has a stable democracy and being a part of the Central African Franc zone has helped it to maintain a stable currency. This is the good news when it comes to doing business in Comoros. The bad news is that the country has developed a bad reputation as a difficult place to do business. The government has recently implemented measures in the hopes of changing this.

Comoros has a small population of about six hundred thousand and it depends heavily on agriculture and fishing as a source of income. In recent years there has been an increase in the tourism business. There has also been an increase in foreign companies doing business in the country. Unfortunately for many years this growth was very slow because the government had so many regulations in place that it was very difficult to do business in Comoros. They have recently passed legislation to make it easier to do business in the country.

The main part of the new legislation on doing business in Comoros is that foreign companies will be treated the same as local companies. That means that they will have the same rights and the same obligations. The other big incentive is that corporate taxes will be waived for a period of seven to ten years for foreign companies. Although this is helpful the fact remains that taxes are still quite high in Comoros and that is one of the things that is slowing down the country’s economic growth.

There are a few other issues that you are going to have to deal with if you want to do business in Comoros. The biggest is the lack of a skilled workforce. The main industries are farming and fishing and there are few people on the islands who know how to do anything else. The other big issue is the very limited infrastructure in the country. Things like communication and transportation and even electricity and water are of a fairly low standard. There is also the issue that country is located so far away from anything else. That makes it hard to import and export products. The country has a long way to go but that does mean there is a chance to get in on the ground floor.