Madagascar – Country Profile
Madagascar is an island in the south of Indian Ocean with an official name « the Republic of Madagascar », it is About 200 miles off the coast of Africa across the Mozambique Channel. Madagascar covers 228,880 square miles. The nation comprises the island of Madagascar (the fourth-largest island in the world) and some smaller peripheral islands. Antananarivo is the capital city, aka Tananarive or « Tana », the most populated city. The total population is around twenty two million. The Malagasy and French are the language used but the French is mostly the business language.
Over 90% of the biodiversity found on the island exist nowhere else on earth.
The currency is the Malagasy ariary (MGA) (1 EUR = 3,290 MGA / 1USD = 3,110 MGA ).
Visa – work permits
Payroll Service Madagascar, being in place and through his network and with the local partnership is able to offer the Contractor a global immigration solution in Madagascar including:
Business Visa – We ensure that the contractor are fully in compliance with local laws and work requirements. Payroll Service Madagascar will ensure that all requisites and conditions are fulfilled and that the contractor is fully aware of any updates and changes to ensure a successful acquisition of the business visa.
Work permit – It is preferable that the Contractor has requested a work permit in advance before coming to Madagascar although it is also possible to get there with the support of Payroll Service Madagascar.
Payroll Service Madagascar ensures that the contractor obtains a work permit in time and place to make sure so that there is no red tape with the local authorities in any form whatsoever when the work process started. Obtaining a work permit can take several weeks.
Tax and social security
Company income tax rate IR: 20%
Personal income tax rate IRSA: 20%
Social security tax by employer CNAPS: 13%
Social security tax by employee CNAPS: 1%
Medical affiliation by employer OSTIE, OSIE, SMIA, FUNHECE: 5%
Medical affiliation by employee OSTIE, OSIE, SMIA, FUNHECE: 1%
Health insurance (not mandatory) : scalable
VAT: 20% of value added
Payroll Service Madagascar facilitates the installment of companies, NGO, individual consultants, and expatriate workers by providing number of “in-country” services such as helping in getting administrative documents, assistance in opening a bank account, helping to setup local entity, in finding an accommodation, car hire, flight booking, hotel booking, travel schedule, driving licence conversion, local mobile phone, and much more advice …