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A practical guide by Talents Conseil Setting up a company in Mauritania can be a strategic step for a foreign business looking to establish and grow its operations in the country. Mining, energy, infrastructure, fisheries, agriculture, business services and digital transformation are among the areas creating opportunities for both local and international companies. Before establishing a presence, however, several important questions need to be addressed: Which legal structure should you choose? What are the main registration steps? Can a foreign investor own a company in Mauritania? Which documents are required? And do you actually need to incorporate a company before starting to explore the market? This guide provides an overview of the main steps international investors should consider before setting up a business in Mauritania. Can a foreign investor set up a company in Mauritania? Yes. Mauritania welcomes both domestic and international investment and has established a legal framework designed to encourage private-sector investment. In 2025, the country adopted a new Investment Code – Law No. 2025-006, strengthening the framework applicable to investors. Among the principles highlighted by the Mauritanian Investment Promotion Agency (APIM) are equal treatment of domestic and foreign investors, investment protection and, subject to applicable regulations, the ability to transfer capital, profits and dividends. Certain activities may nevertheless be subject to specific regulations, licences or authorisations. A sector-specific regulatory review is therefore essential before establishing operations. Sources: APIM; Law No. 2025-006 establishing the Investment Code. Do you necessarily need to set up a company? Not necessarily. Before establishing a permanent legal entity, a foreign company should determine what it actually wants to achieve in Mauritania. If the initial objective is simply to: it may be more appropriate to begin with a market-entry assessment, business development mission or local representation. This approach allows a company to test the commercial potential of the Mauritanian market before committing to the costs and responsibilities associated with establishing a permanent operation. Once a company begins regularly signing contracts, recruiting locally, conducting permanent operations or investing in assets, establishing a local structure may become necessary or strategically appropriate. Choose the appropriate legal structure Selecting the appropriate legal structure is one of the first important decisions. The right structure will depend on factors including: Common business structures include limited-liability entities and companies limited by shares, alongside other options available to foreign companies seeking to establish a local presence. Before making a decision, investors should obtain legal and tax advice tailored to their particular circumstances. Prepare your business project Before beginning the administrative process, investors should clearly define their project. This includes determining: Where a foreign company is establishing a subsidiary or another local structure, documentation relating to the foreign parent company may also be required. Depending on their nature and country of origin, foreign documents may require translation, legalisation or other authentication formalities. Check and register the company name The new business will require a legal name. Before incorporation, the availability of the proposed company name should therefore be checked in accordance with the applicable registration procedure. It can be useful to prepare several alternative names to avoid unnecessary delays if the preferred name is unavailable. Prepare the incorporation documents The next step involves preparing the legal documents required for the chosen corporate structure. Depending on the type of company and shareholder structure, the application may include: The precise list of documents should always be verified at the time the application is submitted. Register the company Registration provides the business with its legal existence and the identifiers required to conduct its activities. Mauritania has undertaken efforts in recent years to modernise its company-registration procedures. The Mauritanian Investment Promotion Agency (APIM) plays an important role in supporting investors and facilitating investment-related procedures. The progressive digitalisation of administrative services is also an important part of this development. Source: Mauritanian Investment Promotion Agency (APIM). Obtain tax and administrative identifiers Once established, the company must be properly registered with the relevant authorities. Depending on its situation, it will require the appropriate tax and administrative identifiers for activities such as: Specific requirements depend on the company’s activities, legal structure and applicable tax regime. Open a corporate bank account A company operating on a permanent basis in Mauritania will generally require a corporate bank account. Banks will request various documents concerning the company, its shareholders and its beneficial owners. For businesses owned by a foreign parent company, additional corporate documentation may be required as part of the bank’s compliance and Know Your Customer procedures. Timelines can vary depending on the bank, ownership structure, activity and complexity of the application. It is therefore advisable to anticipate this step early in the establishment process. Check sector-specific licences and authorisations Incorporating a company does not necessarily mean that it can immediately conduct every type of activity. Certain sectors are subject to specific regulations. These may include: Before investing, a company should identify precisely which licences, approvals or authorisations are required for its operations. Understand the tax environment Taxation is naturally an essential component of any market-entry decision. Depending on its activity and circumstances, a company may be subject to various taxes and contributions. Before incorporation, investors should assess areas including: As regulations may change and certain transactions require specific analysis, investors should seek advice from qualified Mauritanian legal, accounting or tax professionals. Hiring employees in Mauritania Once operations begin, a company may need to build a local team. Employers must comply with applicable rules concerning areas such as: Additional immigration and employment requirements may apply to foreign employees, including visas, residence requirements and work authorisations. Workforce requirements should therefore be considered during the initial market-entry planning process. The 2025 investment code Mauritania’s 2025 Investment Code represents an important development in the country’s investment framework. According to APIM, different investment regimes may allow qualifying projects to benefit from certain incentives and guarantees. Eligibility may depend on factors such as the nature of the project, its location, its scale and the applicable regulatory framework. Foreign investors should therefore not assume that tax or customs

Mauritania’s growing economic momentum Mauritania has undergone significant economic transformation in recent years, driven by the development of strategic sectors such as energy (natural gas, green hydrogen, solar), extractive industries, and infrastructure. This momentum reflects a clear commitment by public authorities to attract foreign investment and position the country as an energy and logistics hub in West Africa. The exploitation of offshore gas resources, ambitious green hydrogen projects, and major port and energy infrastructure programs have strengthened the country’s attractiveness. In parallel, the adoption of economic and legal reforms aimed at improving the business climate demonstrates a gradual opening to international capital and public-private partnerships. Commercial representation as a strategic entry point In this context, a growing number of foreign companies are showing interest in the Mauritanian market, while favoring gradual, flexible, and controlled entry strategies. The immediate establishment of a subsidiary, branch, or permanent establishment is not always suited to the early stages of market exploration or commercial prospecting. As such, commercial or institutional representation emerges as a particularly relevant strategic alternative. This approach allows foreign companies to test the market, identify opportunities, build local partnerships, and position themselves for tenders, while limiting setup costs and structural commitments. It also provides a better understanding of the administrative, economic, and cultural environment—often a key factor in emerging economies. A legal framework that should not be underestimated However, this apparent flexibility should not obscure the existence of a structured legal and regulatory framework. The representation of a foreign company in Mauritania must comply with commercial law, tax law, and specific sectoral regulations, particularly in energy, mining, and infrastructure. The risk of being reclassified as a permanent establishment In practice, the line between simple representation and the actual conduct of commercial activities can be difficult to assess. A local representative, if acting autonomously or legally binding the foreign company, may expose it to the risk of being reclassified as a permanent establishment, with significant tax and legal consequences. Administrative and tax compliance Likewise, the absence of contractual formalization or administrative compliance (registration, tax obligations, social declarations) may lead to sanctions or even jeopardize business continuity. Securing your representation strategy Therefore, any representation strategy must be designed with a focus on compliance and legal security. This notably involves drafting precise contracts (agency, distribution, or partnership agreements), clearly defining respective responsibilities, and strictly adhering to local regulatory and reporting obligations. Engaging local legal counsel is, in this regard, essential to mitigate risks and structure the market entry effectively. Today, representing a foreign company in Mauritania is a strategic lever for accessing a rapidly growing market, particularly in capital- and technology-intensive sectors. It enables a gradual, flexible approach adapted to local realities, while offering concrete opportunities for growth and partnership. Nevertheless, this approach should not be viewed as an informal or opportunistic arrangement. It operates within a demanding legal framework, where mastery of applicable rules directly determines the security of operations and the credibility of the stakeholders involved. Ultimately, the success of a representation strategy in Mauritania lies in a careful balance between economic opportunity and legal rigor. It requires a deep understanding of the local market, solid contractual structuring, and strict compliance with regulatory obligations. Failing this, the risks involved may compromise not only ongoing projects but also the company’s ability to establish a lasting presence in the Mauritanian economic landscape. Conclusion In conclusion, representation should not be seen as a negligible transitional step, but rather as a true strategic instrument requiring foresight, professionalization, and legal security. “Analysis based on OHADA and Mauritanian legal frameworks, as well as investment practices in Africa.”Salif Sall – TalentsConseil Key sources Legal: Investment Code, OHADA, Commercial Code, Tax Code Institutional: APIM, Mauritanian Ministries Economic: World Bank, IMF, AFDB