PROCEDURES

1. Verification of the corporate name instantly upon filing the file or before filing;
2. Release of share capital in an approved bank or in an approved micro-finance institution of its choice;
3. Correct completion of the Single Form in which the headings of all the services involved in the business creation process are integrated (National Economy, INSS, INPP, Ministry of the Environment, DGI, Municipality).

See the general procedures for setting up a business

TIME LIMIT AND COST

DEADLINE : Three working days (maximum), from the filing of the file, including proof of payment of administrative fees.

COST : 80 USD if the statutes are to be authenticated (notary) or 70 USD if the statutes are under private seal (at this cost, however, add 40 $ collected on behalf of the municipality to obtain authorization to ’opening of economic activities although this procedure is after the creation of a business) 40 USD for Establishments.

INTERVENING SERVICES AT GUCE:

1. The Notarial Office,
2. The Registry of the Trade and Furniture Credit Register,
3. The Tax Department (DGI),
4. A Scheduling Center of the General Direction of Administrative, State, Judicial and Participatory Revenue (DGRAD),
5. The Administration of the National Economy,
6. The National Social Security Institute,
7. The Environment Administration,
8. The National Employment Office,
9. The National Institute for Professional Preparation (INPP),
10. The General Labor Inspectorate;
11. Representation of Municipal Entities

MINIMUM CAPITAL:

1. Elimination of the minimum share capital requirement for the creation of a limited liability company, left to the free choice of the partners depending on the activities;
2. Freedom to set the minimum capital of the limited company as desired

REFORMS

1. Computerize and network all the services involved in the business creation process and represented at GUCE;
2. Establish an electronic monitoring system for the creation of an online business;
3. Reduce the deadline from 3 to 2 working days;
4. Reduce the cost of setting up a business from 120 to 80 USD or from 110 to 70 USD.

See the general procedures for setting up a business