Turkmenistan has prohibited requiring excess documents to register an enterprise
A new amendment to the Turkmen legislation has forbidden officials to demand extra documents from businesses when registering an enterprise.
Article 17 of the Law of Turkmenistan "On Enterprises" was supplemented with a part of the following content: "4. For the state registration of an enterprise, the demand of any additional documents is not allowed, excepting the documents provided in the part one of the present article."
One more amendment states that for the state registration of an enterprise, entrepreneurs must submit not vague "constituent documents", but specifically one document – the "Charter of the enterprise".
So, in order to register an enterprise in Turkmenistan, a business must provide only the following documents:
– application of the founder or founders,
– Charter of the enterprise
– a document confirming the payment of the state registration fee (receipt),
– the constituent contract of the enterprise (if there are more than one founders).
Also, the obligation to register enterprises is now assigned to the Tax administration of the Ministry of Finances and Economy of Turkmenistan and its tax authorities. This will simplify the registration procedure, eliminating unnecessary links from it and reducing bureaucratic costs.
The amendments will come into force on January 1, 2023.
Earlier last year, Turkmenistan also reduced the period for making a decision on the state registration of an enterprise from two weeks to three working days.
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