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In the past starting a business required 11 steps over 32 days but now things have changed
The past trade registration and licensing system involved 11 steps which included transfers from multiple government offices and took a considerable time of 32 days for completion.
In addition the system required steps that are nonessential to the registration process thereby delayed registration completion time.
To improve this, Ministry of Trade and Industry has introduced several reforms that reduce the number of processes required to get a business license as well as the time required to register your business.
Key reforms that make starting new businesses very easy
With the implementation of these reforms there has been a significant improvement in service delivery by reducing
- Reduced the time needed to get a license from an average of 32 days to 5 days
- Publication of company and trade name is abolished reducing the time needed for publication from 15 days to Zero.
- The authorization of Article of Association AoA and Memorandum of Understanding MOU at MOTI from 1 day to 3 hours.
- Commercial registration, business licensing and trade name registration can be requested at once reducing the stepsfrom 11 to 6.
- The time needed to obtain cash register machine is reduced from 7days to 3days.
- Additional measure have also been taken by signing MOU with various stakeholders, as well as providing trainings of trainers in an effort to ensure smooth implementation of the reform.
Reforms undertaken have reduced the 11 steps over 32 days to 6 steps over 5 days
Merging of several procedures that required transfer of multiple government institutions now being provided at one in institution:
- Single application for commercial registration, business license and trade name.
- DARA has delegated the authentication of Article of Association AoA and Memorandum of Understanding MOU to MOTIas of December 2019.
Eliminating several burdensome requirements:
- Eliminating the need for newspaper publication for trade name thereby scraping 15 day waiting period.
- Renting office space and bringing lease agreement no more required for getting business license
OTRLS(Icon) Introducing an Online Trade Registration and Licensing System (OTRLS) that allows users to obtain key services in getting a business license online.