Mauritania

Exchange controls

Mauritanian currency is the ouguiya.

Exchange-control regulations exist in Mauritania for foreign financial transactions. The foreign currencies transfered in or outside Mauritania are free.

Choice of business entity

The business entities possible are as follows:

• Branch is a representative or office of the head office for which it is a continuation. Both constitute the same legal person.
• Subsidiaries: They can be a Limited Liability Company (LLC) or Public Limited Company (PLC). They can be constituted by one shareowner or more.

It is also possible to create an economic groupment, general partnership, holdings, etc.

Intergovernmental agreements (IGAs)

A non-double taxation agreement is signed by Mauritania with Senegal, the Maghreb Arab Union, the United Arab Emirates (UEA), and France.

An Inter-State Cooperative Agreement is signed with Senegal for the Grand Tortue Ahmeyim (GTA) oil and gas field.

Tax information exchange agreements (TIEAs)

A Finance Ministry act will list states or territories that have concluded an agreement with Mauritania allowing automatic exchange of declaration on a country-by-country (CbC) basis and which comply with the obligations resulting from that agreement.