How Long are Business Licenses Valid in Turkmenistan?

BUSINESS TURKMENISTAN
How Long are Business Licenses Valid in Turkmenistan?
The validity period of a license to carry out a licensed type of entrepreneurial activity cannot be less than three years.

In accordance with the Law of Turkmenistan on Licensing Certain Types of Activities, there is a need to obtain a license from the relevant state body for the right to carry out certain types of business activity in the country.

Terms of validity of certain types of licenses:

  • for the performance of professional services and the implementation of banking activities, which is a licensed type of business activity - for an unlimited period of validity;
  • for carrying out a licensed type of business activity (with the exception of banking activities, import of alcohol, alcoholic beverages, tobacco products) - for a specified period, but not less than three years;
  • for the import of alcohol, high-quality and trademarked alcoholic products, as well as tobacco products not produced in Turkmenistan - for a period not exceeding one year.

The validity period of a license to carry out a licensed type of business activity cannot be less than three years and in accordance with the application of the license applicant, its validity period can be reduced, but not less than one year.

The validity period of a license to carry out a licensed type of business activity can be extended upon the licensee's application.