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Ease of Doing Business in

Timor-Leste

Timor-Leste Download Profile (1623.6KB, pdf)
Region East Asia & Pacific
Income Category Lower middle income
Population 1,245,015
GNI Per Capita (US$) 1,920
City covered Dili

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 175 173 down
2
40.88 42.03 down
1.15
Starting a Business 145 104 down
41
77.13 83.63 down
6.50
Dealing with Construction Permits 159 156 down
3
55.31 55.57 down
0.26
Getting Electricity 112 96 down
16
63.09 67.85 down
4.76
Registering Property 187 187
-
0.00 0.00
-
Getting Credit 167 163 down
4
20.00 20.00
-
Protecting Minority Investors 70 69 down
1
56.67 56.67
-
Paying Taxes 130 126 down
4
60.55 60.55
-
Trading across Borders 94 92 down
2
69.90 69.90
-
Enforcing Contracts 190 190
-
6.13 6.13
-
Resolving Insolvency 169 169
-
0.00 0.00
-

DB 2017 Rank: 145

DB 2016 Rank: 104

Change in Rank: down41

DB 2017 DTF (% points): 77.13

DB 2016 DTF (% points): 83.63

Change in DTF (% points): down6.50

Standardized Company
Legal form: Private Limited Liability Company
Paid-in minimum capital requirement: USD 5,000
City: Dili
Indicator Timor-Leste East Asia & Pacific OECD high income
Procedure – Men (number) info_outline 4.0 7.0 4.8
Time – Men (days) info_outline 9.0 23.9 8.3
Cost – Men (% of income per capita) info_outline 0.5 19.0 3.1
Procedure – Women (number) info_outline 4.0 7.1 4.8
Time – Women (days) info_outline 9.0 23.9 8.3
Cost – Women (% of income per capita) info_outline 0.5 19.0 3.1
Paid-in min. capital (% of income per capita) info_outline 260.1 12.3 9.2
  • No. Procedure Time to Complete Associated Costs
    1

    Deposit minimum capital at the Bank

    Agency: Bank or post office (BNU)

    Registration fees are paid at any commercial bank. The minimum capital requirement is prescribed by the Commercial Registry Code, Articles 16 and 188.
    1 day no charge
    2

    Register the company’s name, file the company’s statutes, apply for a TIN, and obtain the final registration number (CRC- numero unico da empresa) and the certificate of incorporation certified by SERVE and AEA (business license)

    Agency: One-stop shop (SERVE)

    According to Article 34 of the Commercial Registry Code and article 33 of the Decree-Law 35/2012, a company must register by filing the following documents:

    1) Article of association (including the paid-in minimum capital). By the law (Commercial Registry Code, Articles 16 and 188) requires that at least 50% of the share capital shall be paid up the moment of registration (with minimum paid-up capital of US$5,000). Notwithstanding, SERVE only requires a declaration stating that the share capital was already paid-up (according to article 23, 1, d). However in practice, the company is required to make the deposit before.

    2) ID documents of the administrators, company shareholders, and managers.

    3) Map showing the company’s location.

    After submitting all documents and article of incorporation, SERVE has 5 days to issue the final documents that will authorize the company to start its operations.

    When these documents are ready to pick up, entrepreneurs go to SERVE and pick all documents together, as mentioned in Article 58 of Decree-Law 35/2012.
    5 days no charge
    3

    Publish statutes at SERVE

    Agency: One-stop shop (SERVE)

    After the SERVE makes all the internal registration procedures, it has to publish the “resumo do registro” (summary of the company’s registration).
    1 day no charge
    4

    Obtain a company stamp

    Agency: Sealmaker

    The company seal requirement is not required by law and SERVE does not require it, however in practice companies will need to have a company stamp in order to interact with government agencies, as the Ministry of Commerce.
    2 days USD 10