Business Reforms in Benin
= Doing Business reform making it easier to do business. = Change making it more difficult to do business.
Starting a Business: Benin made starting a business easier by eliminating the need to notarize company bylaws to activate a bank account after incorporation.
Resolving Insolvency: Benin made resolving insolvency easier by introducing a new conciliation procedure for companies in financial difficulties and a simplified preventive settlement procedure for small companies.
Starting a Business: Benin made starting a business less costly by reducing the fees for filing company documents at the one-stop shop.
Dealing with Construction Permits: Benin made dealing with construction permits less time-consuming by establishing a one-stop shop and by reducing the number of signatories required on building permits.
Trading across Borders: Benin made trading across borders easier by further developing its electronic single-window system, which reduced the time for border compliance for both exporting and importing.
Starting a Business: Benin made starting a business easier by reducing the minimum capital requirement and the fees to be paid at the one-stop shop.
Protecting Minority Investors: Benin strengthened minority investor protections by introducing greater requirements for disclosure of related-party transactions to the board of directors and by making it possible for shareholders to inspect the documents pertaining to related-party transactions and to appoint auditors to conduct an inspection of such transactions.
Trading across Borders: Benin made trading across borders easier by reducing the number of documents needed for imports.
Enforcing Contracts: Benin made enforcing contracts easier by creating a commercial section within its court of first instance.
Starting a Business: Benin made starting a business easier by creating a one-stop shop.
Trading across Borders: Benin made trading across borders easier by improving port management systems, enhancing the infrastructure around the port and putting in place new rules for the transit of trucks.
Starting a Business: Benin made starting a business easier by appointing a representative of the commercial registry at the one-stop shop and reducing some fees.
Dealing with Construction Permits: Benin reduced the time required to obtain a construction permit by speeding up the processing of applications.
Trading across Borders: Benin reduced the time required to trade across borders by implementing an electronic single-window system integrating customs, control agencies, port authorities and other service providers at the Cotonou port.
Enforcing Contracts: Benin made enforcing contracts easier by introducing a new code of civil, administrative and social procedures.
Starting a Business: Benin made starting a business easier by replacing the requirement for a copy of the founders’ criminal records with one for a sworn declaration at the time of the company’s
Getting Credit: Access to credit in Benin was improved through amendments to the OHADA (Organization for the Harmonization of Business Law in Africa) Uniform Act on Secured Transactions that broaden the range of assets that can be used as collateral (including future assets), extend the security interest to the proceeds of the original asset and introduce the possibility of out-of-court enforcement.
Dealing with Construction Permits: Benin created a new municipal commission to streamline construction permitting and set up an ad hoc commission to deal with the backlog in permit applications.
Paying Taxes: Benin made paying taxes less costly for companies by reducing the corporate income and payroll tax rates.
Trading across Borders: Benin reduced the time needed to clear goods through customs by implementing an electronic data interchange system.
Dealing with Construction Permits: In Benin an administrative backlog in the Municipality of Cotonou resulted in longer waits to obtain a building permit.
Trading across Borders: Benin reduced the time for exporting through improvements in port infrastructure.
Registering Property: Benin made transferring property less costly by reducing the registration fee.