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SA vs. SARL in Madagascar: Key Differences
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Choosing the right business structure in Madagascar can make a huge difference for growth, liability, and compliance. In this episode, we compare SARL (Limited Liability Company) and SA (Public Limited Company), breaking down their key differences, advantages, and when each is most suitable.
What You’ll Learn in This Episode:
📌 SARL (Société à Responsabilité Limitée – Limited Liability Company)
- Popular for small and medium-sized businesses.
- Requires 1+ shareholder and 1 director, maximum 100 partners; open to any nationality.
- Liability limited to capital contributions; personal assets protected.
- No minimum capital required.
- Managed by a director, with strategic decisions made by partners.
- Statutory auditor required if thresholds are met (capital ≥ 20M MGA, turnover ≥ 200M MGA, workforce > 50).
📌 SA (Société Anonyme – Public Limited Company)
- Designed for larger businesses or those seeking significant capital from multiple investors.
- Requires 1+ shareholder and 1 director; no maximum limit.
- Liability limited to capital contributions.
- Minimum share capital: 10M MGA (2M MGA for single shareholder).
- Managed by a general administrator or a board of directors.
- Statutory auditor mandatory; accounts maintained in French; structured for potential public offerings.
Why Listen:
If you’re planning to start or expand a business in Madagascar, this episode helps you understand which legal structure aligns with your goals, resources, and long-term growth strategy.
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