On 9 December 2015, the Council of Ministers in the Republic of Côte d’Ivoire adopted a draft act regulating leases in the Ivory Coast.

The Ivory Coast does not have its own lease regulations.

The draft act proposes that these regulations be structured around seven sections:

  • general provisions (territorial and material scope, definitions of vital concepts);
  • the lease contract (form, content, registration regulations and publication on the RCCM [Trade and Personal Consumer Credit Registry]and the Land Register);
  • the rights and obligations of the parties (lessor, lessee, suppliers);
  • regulations which apply specifically to property leases;
  • breaches, cancellation and recourse in the framework of a lease contract;
  • collective proceedings;
  • tax provisions.

The Government’s goal is to:

  • “promote the emergence and development of this financing tool;
  • contribute to significant improvements in access to financing for Ivorian companies in general and SMEs in particular;
  • strengthen measures, in particular by establishing judicial procedures which allow for rapid recovery of the leased property when faced with risks of fraudulent misappropriation of the property and a payment default on the part of the lessee.”

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