Turkmenistan Cuts Enterprise Registration Period to Three Days

BUSINESS TURKMENISTAN
Turkmenistan Cuts Enterprise Registration Period to Three Days
Turkmenistan shortened the decision period on state registration of an enterprise from 2 weeks to 3 working days.

Turkmenistan shortened the decision period on state registration of an enterprise from 2 weeks to 3 working days.

The Law of Turkmenistan "On Amendments and Additions to the Law of Turkmenistan On Enterprises" came into force on Monday with its publication on state newspaper.

“The decision on state registration of an enterprise or on refusal of state registration is made within three working days from the moment the founders of the enterprise submit the necessary documents,” the document says.

The document also approved addition to the Article 17 of the Law of Turkmenistan “On Enterprises”, which refers to the documents submitted for state registration of an enterprise. According the addition, the documents for state registration of an enterprise can be submitted in electronic format in the manner established by the Ministry of Finance and Economy of Turkmenistan in accordance with the legislation of Turkmenistan.

Mejlis of Turkmenistan approved the new Law on March 13 and the President of Turkmenistan Gurbanguly Berdimuhamedov signed the Law on March 23.