Why the SAS attracts the Canadian diaspora in 2026
The Senegalese diaspora in Canada totals approximately 35,000 people per Statistics Canada 2024, concentrated in Montreal (60%), Toronto (22%), Ottawa-Gatineau (10%), Calgary and Edmonton (8%). The professional fabric is dense: IT engineers, healthcare professionals, public service, entrepreneurs.
The Simplified Joint-Stock Company (SAS — Société par Actions Simplifiée) has become, since the OHADA Uniform Act revised on January 30, 2014 on commercial companies, the preferred structure for diaspora entrepreneurs for three reasons:
- Maximum statutory freedom. The SAS allows free governance organization, unlike the classic SA (article 853-1 et seq. AUSCGIE).
- Very low minimum capital. No legal minimum — set freely in the articles (unlike the SA which requires 10 M FCFA).
- No physical presence requirement of the president. The president can be non-resident.
Let's focus on the 2026 procedure from Canada, remotely, without traveling to Senegal.
H2: Step 1 — Drafting the SAS articles of association
The articles must contain at minimum (article 13 AUSCGIE):
- Legal form (SAS), name
- Registered office (Senegal address — ideal Dakar Plateau domiciliation, cf Kolonell comparative article)
- Specific corporate purpose
- Duration (99 years max)
- Capital amount, number and nature of shares
- Identity of shareholders and contributions
- Operating methods (president, officers, AGM)
- Approval, preemption, exclusion clauses
Cost of articles drafting by OHADA Senegalese lawyer: 350,000 to 1,200,000 FCFA depending on complexity (high capital, multi-shareholder diaspora-Senegal, sophisticated clauses).
Recommended capital: minimum 1,000,000 FCFA (~2,300 CAD) for banking credibility, ideal 5-10 M FCFA for operational SAS.
H2: Step 2 — Consular power of attorney in Canada
Critical step to sign remotely. The principal (you, in Canada) delegates to a mandatary in Senegal (lawyer, accountant, or trusted introducer) the power to sign all instruments: articles, RCCM filing, bank account opening.
Senegal consulates in Canada:
- Consulate General in Montreal — 3450 Drummond Street, suite 700, Montreal (QC) H3G 1Y2. Phone: (514) 360-0202. Jurisdiction: Quebec, Atlantic provinces.
- Embassy in Ottawa — 57 Marlborough Avenue, Ottawa (ON) K1N 8E8. Phone: (613) 238-6392. Jurisdiction: Ontario, Manitoba, Saskatchewan, Alberta, British Columbia, Territories.
Power of attorney procedure:
- Drafting of the draft power by Senegalese lawyer (sent as PDF).
- Consulate appointment booking (online, 5-12 business day wait in 2026).
- In-person presentation with Senegalese or Canadian passport + 2 photos + printed draft.
- Signature authentication by consular agent.
- Legalization: revenue stamps ~75 CAD (equivalent ~30,000 FCFA).
- Original sent by DHL/FedEx to the mandatary in Dakar (5-9 days, ~95 CAD).
Hague apostille alternative: Canada is not a signatory to the Hague Convention of 1961. Therefore consular power is mandatory (no apostille possible).
H2: Step 3 — APIX filing and RCCM/NINEA formalities
Once the power is received in Senegal, the mandatary files the dossier with the Business Creation Support Office (BCE) of APIX, located at Fahd Building, Avenue Léopold Sédar Senghor in Dakar.
Complete APIX dossier:
- 3 original signed copies of articles
- Original legalized power of attorney
- Legalized passport copy of shareholder(s)
- Domiciliation proof (domiciliation contract or commercial lease)
- Subscription and payment declaration (DSV)
- Completed APIX M0 form
- APIX fees: 25,000 FCFA standard (48h procedure) or 100,000 FCFA express (24h)
Real 2026 timelines:
- Standard APIX: 48-72 business hours
- RCCM registration (Dakar Commercial Court): automatic via APIX
- NINEA issuance (tax number) by Tax Authority (DGID): 5-10 days
- IPRES (social security) + CSS registration: 7-15 days
Total from APIX to complete legal existence: 10-18 business days.
H2: Step 4 — Remote bank account opening
The historical challenge. In 2026, several Senegalese banks accept remote opening with consular power of attorney and enhanced KYC:
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- Ecobank Senegal — active Diaspora program, 100% remote opening via local mandatary.
- CBAO Attijariwafa — Moroccan network, structured diaspora procedure.
- Banque Atlantique — diaspora flexibility.
- Orabank — fast opening for SAS, ideal e-commerce.
- Société Générale Sénégal — stricter KYC but good international services.
Required documents (in addition to company documents):
- Canadian bank statement (Desjardins, RBC, BMO, TD, Scotia)
- 2 recent Canadian proofs of residence (-3 months)
- Canadian banking reference (letter from your advisor)
- Source of funds (3-6 month statements, employment contract, income certificate)
- FATCA declaration if you have a US green card or US person status
Account opening cost: 0 to 50,000 FCFA depending on bank. Typical initial deposit: 100,000 to 500,000 FCFA.
H2: Total CAD ↔ FCFA costs (2026)
2026 average exchange rate: 1 CAD ≈ 435 FCFA.
| Item | FCFA cost | CAD cost |
|---|---|---|
| SAS articles drafting (OHADA lawyer) | 350,000 - 1,200,000 | 805 - 2,760 |
| Paid-in share capital (recommended minimum) | 1,000,000 - 5,000,000 | 2,300 - 11,500 |
| Consular power + DHL | 30,000 + 41,000 | 75 + 95 |
| APIX fees (standard) | 25,000 | 60 |
| Notary fees (if SA, optional SAS) | 0 - 250,000 | 0 - 575 |
| 12-month Dakar Plateau domiciliation | 360,000 - 840,000 | 830 - 1,930 |
| Local mandatary fees | 200,000 - 600,000 | 460 - 1,380 |
| Bank account opening | 0 - 50,000 | 0 - 115 |
| TOTAL excluding capital | 1,006,000 - 3,006,000 | 2,325 - 6,915 |
Realistic all-inclusive budget: 3,000 to 9,000 CAD (1.3 to 4 M FCFA) excluding operating capital.
H2: Complete timeline from Canada
| Week | Step |
|---|---|
| W1 | Choose OHADA lawyer, draft articles |
| W2 | Validate articles, draft power |
| W3 | Consulate appointment Montreal/Ottawa, sign power |
| W4 | DHL shipment Dakar, mandatary reception |
| W5 | APIX filing, fees paid |
| W6 | RCCM obtained, NINEA started |
| W7-8 | NINEA + IPRES + CSS received |
| W8-10 | Operational bank account opened |
| W10+ | Company fully operational |
Realistic door-to-door timeline: 8 to 12 weeks.
FAQ
Do I need to be in Senegal to incorporate the SAS?
No. With a properly drafted consular power of attorney at the Montreal consulate or Ottawa embassy, the entire process is remote. Physical presence is never legally required if the mandate is complete (signing articles, APIX filing, account opening).
Minimum SAS capital in Senegal?
No legal minimum since the revised 2014 OHADA Uniform Act (article 853-5). Practically, set a minimum of 1,000,000 FCFA for banking and commercial credibility. For an operational SAS (e-commerce, services, consulting), 5,000,000 FCFA is a good standard.
SAS vs SARL difference for the diaspora?
SAS: free capital, flexible governance (custom statutory clauses), free share transfer subject to approval clause. SARL: 100,000 FCFA minimum, more rigid (corporate shares, automatic approval). SAS ideal for future fundraising, multi-shareholders, complex governance. SARL ideal for simple family structure.
How to pay Senegalese taxes from Canada?
Senegalese Corporate Tax (IS): 30% (reduced to 25% for SMEs). Filings via DGID e-Tax portal. Canada-Senegal tax treaty of August 2, 2001 avoids double taxation (foreign tax credit). See our dedicated article on the France-Senegal treaty for general mechanics, applicable mutatis mutandis to Canada.
Do I need a dedicated Canadian bank account?
Recommended. Many diaspora members open a Desjardins or TD business account to isolate SAS flows. This facilitates transfers (Wise, RIA), accounting tracking, and justification of capital contributions when opening the Senegalese account.
Let's talk about your case
If you want to incorporate your SAS in Senegal from Montreal, Toronto or Ottawa, we coordinate the OHADA lawyer, domiciliation, local mandatary and account opening. WhatsApp +221 77 596 93 33.
_Disclaimer: general information up to date 2026 (OHADA Uniform Act, Senegalese general tax code, consular conventions). For your specific case, consult an OHADA lawyer registered with the Dakar bar and a Canadian tax specialist in international matters._
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
