Turkmenistan to Approve Procedures for State Registration of Individual Entrepreneurs

BUSINESS TURKMENISTAN
Turkmenistan to Approve Procedures for State Registration of Individual Entrepreneurs
Law of Turkmenistan on Enterprises regulates the procedures for state registration of legal entities engaged in entrepreneurial activity.

Cabinet of Ministers considers approving procedures for state registration of individuals - individual entrepreneurs engaged in entrepreneurial activity without forming a legal entity.

Deputy Chairman of the Cabinet of Ministers Gochmyrat Myradov noted that the legislation is on par with the Law of Turkmenistan “On Entrepreneurship” during the meeting of Cabinet of Ministers of Turkmenistan on Friday.

According to the Deputy Chairman, in this regard, the Ministry of Finance and Economics has prepared a draft of the relevant document. The development of a normative act is aimed at streamlining business activities, improving tax legal relations.

The President of Turkmenistan instructed to forward the draft document to the relevant structures for approval.

According to the Law of Turkmenistan “On Entrepreneurship”, the Cabinet of Ministers provides for approval of the procedure for state registration of individuals - individual entrepreneurs engaged in entrepreneurial activity without forming a legal entity. The new document will state in details the necessary procedures to register such entrepreneurial activity.

Law of Turkmenistan on Enterprises regulates the procedures for state registration of legal entities engaged in entrepreneurial activity.