Business For Sale Madagascar | Business For Sale Listings
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Things to Know About the Business for Takeover Madagascar
Madagascar is an Eastern African island in the Indian Ocean. It covers a land area of 587,041 square kilometers with a population of 24,894,551 Malagasy. The capital city is Antananarivo, which is also the largest city. Most citizens speak Malagasy and French, and Malagasy ariary (MGA) is their currency. Half of the population is Christian, while most of the other half adheres to traditional beliefs. The country has climates with these characteristics: hot, wet season from November to April and cooler, drier season from May to October.
The Gross Domestic Product (GDP) in Madagascar is worth 12.10 billion US dollars. Its GDP per capita is $432.70, which implies that the country is one of the world’s poorest countries. The Corporate Tax Rate stands at 20 percent, and it is beneficial to all companies and business owners.
Doing business in Madagascar is not easy as according to the rating done by the World Bank, it is ranked 161st among 190 economies in the ease of doing business. All nationals except Palestine are required to get a visa (90 days or less) from an embassy or consulate. They can also obtain it through online or upon arrival. Just like in other countries, rules for residing, working, and doing business in the country require residence, work, and business permits, respectively. A long-stay visa (more than 90 days) is needed before getting those permits or licenses.
The challenges in Madagascar include frequent cyclones, lack of accessibility to medical and health care services in the rural areas, deforestation, and soil erosion, which affect local farmers, and some residence/business-permit issues. Though it is coined as one of the poorest countries in the world, in 2016, it was classified as one of the world’s fastest-growing economies.
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