Suriname

Starting a Business in

Suriname

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Suriname. It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 185 economies. The most recent round of data collection was completed in June 2012.

Compare Suriname to 184 other economies.

YearNew business densityNumber of new limited liability companies
2011 0.109,405

  • Standardized Company

  • Legal Form: Private Limited Liability Company
  • Paid in Minimum Capital Requirement: SRD 100
  • City: Paramaribo

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No. Procedure Time to Complete Associated Costs
1 Deposit paid-in minimum capital

At least 10% of the subscribed capital should be deposited in the bank.
1 day no charge
2 Verify uniqueness of company name

The company name search is done at the Chamber of Commerce.
1 day SRD 100
3 Obtain extract and nationality declaration from the Civil Registry of each founder


1 day SRD 5 (SRD 1 per founder)
4 Pay fee at the Accountancy and Finance Department of the Ministry of Justice and Police


1 day included in procedure 6
5 Pay fee at the Districts Commissioner


1 day included in procedure 6
6 Draft and notarize company articles of association

Limited liability companies must be founded through a notarized act, written in Dutch. The company must submit draft articles of association and a request to start the company so the notary can provide a declaration.

Fee schedule for notarizing articles of association:

• SRD 2,100 for the first SRD 1,000 of nominal capital
• For the outstanding amount of nominal capital, an extra SRD 85 is added for every SRD 1,000
• The SRD 2,100 includes the SRD 350 for Procedure 4 and the SRD 27 for Procedure 5. In addition, a turnover tax of 8% of the total fee is paid for the notary’s service
3-4 days SRD 23,673
7 Apply for company registration at the Trade Register in the Chamber of Commerce

The following documents must be filed with the Trade Register to apply for company registration:

• Draft statutes.
• Letter from notary on founding of the limited liability company.
• Recent passport picture of each founder (one).
• Passport or identity card of each founder (copy).
• Extract from Civil Registry of each founder (one).

The company is registered as a limited liability company “in establishment” before obtaining the approval of the President of Suriname. Upon approval, the notary public converts the draft articles of association into the articles of association and notarizes the company act.

The annual registration fee is also referred to as the contribution fee.
1-2 days SRD 50 to 100
8 Obtain approval of the act by the President

The company act must be approved by the President of Suriname with a statement of no objection, published in the Official Gazette. Before a company is officially established, it becomes a limited liability company “in establishment.” While in establishment, the company can carry out activities, but the owners are fully liable.

The following documents are submitted for the President’s approval of the company act:

• Request to form a company (two copies)
• Draft company statutes (three copies)
• Abstract for the Trade Registry (original)
• Proof of payment at the Civil Registry
500 days no charge
9 Publish statement of no objection in Official Gazette

The Official Gazette is published every Thursday and Friday, but the company can continue with the other formalities without waiting for the statement to be published. It is only after the publication that company founders cease to be personally liable.
2-3 days SRD 1500
* 10 Register copy of approved act with the Trade Register of the Chamber of Commerce and Industry


1 day (simultaneous with previous procedure) no charge
* 11 Register company for taxes at the tax office of the Ministry of Finance

With the registration extract, the founder can obtain the tax number. The registration must be completed in person. Suriname has a self-assessment system for taxes. Limited liability companies pay a fixed tariff. Regardless of the taxable income, the tariff is 36% a year. Turnover tax on taxable services is 8%, and on taxable goods, 10%. The self-assessment forms must be filled out by the company and submitted to the Tax Office.
1 to 2 days (simultaneous with previous procedure) no charge
* 12 Buy insurance for the company

All companies must provide their employees with accident insurance. Other social insurance is not compulsory.
2 to 3 days (simultaneous with previous procedure) SRD 60 per person per year
* 13 Obtain trade license

The trade license fee is SRD 300, but there are many additional fees. A one-stop shop in the Chamber of Commerce centralizes all the steps for the SRD 550 fee.
6 months (simultaneous with previous procedure) SRD 550
* Takes place simultaneously with another procedure.
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