Côte d'Ivoire's 2018 Investment Code: the incentive framework for foreign investors

The current investment code of Côte d'Ivoire (in West Africa, French-speaking, the world's largest cocoa producer) is Ordinance No. 2018-646 of 1 August 2018 (Code des investissements), subsequently amended in 2019 and 2024; the competent one-stop shop is CEPICI, the investment promotion centre. Its incentives follow a clear logic: the further from Abidjan the investment is located, and the higher the sector's priority for the government, the greater the incentives. The summary below is based on the December 2024 version published in the CIVLII legal database; it describes the framework only and does not constitute legal or tax advice.

Two procedures: declaration and approval

• Declaration regime (régime de déclaration): applies to new businesses; incentives cover the operating phase only, and a declaration certificate is issued on completion.
• Approval regime (régime d'agrément): applies to new or expanding businesses, with incentives in both the investment and operating phases. The thresholds are 200 million CFA francs for large companies and 50 million CFA francs for SMEs (excluding VAT and working capital). The law defines an SME as having fewer than 200 permanent employees and annual turnover below 1 billion CFA francs.

Three investment zones and two sector categories

The implementing decree divides the country into three zones: Zone A is the Autonomous District of Abidjan; Zone B comprises the regional capitals, plus Bonoua and Grand-Bassam; Zone C covers the rest of the country.

Sectors fall into two categories. Category 1 includes agriculture, healthcare, agro-industry processing local agricultural raw materials, secondary and tertiary wood processing, and hotels above a certain investment threshold; Category 2 covers all other sectors not excluded.

For large companies under the approval regime, for example, the operating-phase incentives are:

Exemptions cover corporate income tax and the minimum tax, the business licence tax (patente), and employers' payroll charges for national employees, among others. SMEs receive more favourable rates. During the investment phase, Category 1 equipment is exempt from import duties and Category 2 equipment pays half, with VAT payment deferred.

Excluded sectors and investor obligations

Commerce, banking and finance, the liberal professions and non-industrial construction do not qualify for Investment Code incentives, and the implementing decree lists further exclusions, such as mining and oil and gas extraction, property development and gambling.

The law guarantees equal treatment for foreign and national investors and the free transfer of funds in accordance with foreign-exchange regulations, and provides that expropriation must be in the public interest and subject to prior, fair compensation; disputes are first negotiated for up to 12 months before going to the courts or arbitration. In return, approved investors must complete their investment within 24 months, keep fixed-term contract staff to no more than one third of the workforce and expatriate managers to no more than 10%, and comply with labour, environmental and anti-corruption rules, among others. Large foreign-owned companies may apply for additional credits if 80% of their managers are nationals, if they subcontract at least 25% of work to national companies, or if they open at least 34% of their capital to national investors.

One line for Asian companies

Your choice of location and sector category directly determines the size of your incentives; use this map to narrow down your options, then ask CEPICI and local lawyers and accountants to confirm the latest provisions for your specific case.

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References: CIVLII – Ordonnance n° 2018-646 portant Code des investissements (2024 version); CIVLII – Décret n° 2018-647; GTAI – Côte d'Ivoire: Investitionsrecht (2025); KOACI – Ratification de la loi sur les zones industrielles et du Code des investissements modifié (2025)