Business Reforms in Chad
= Doing Business reform making it easier to do business. = Change making it more difficult to do business.
Starting a Business: Chad reduced the cost of starting a business by reducing the paid-in minimum capital required to register a company.
Resolving Insolvency: Chad made resolving insolvency easier by introducing a new conciliation procedure for companies in financial difficulties and a simplified preventive settlement procedure for small companies.
Registering Property: Chad made transferring property less costly by lowering the property transfer tax.
Protecting Minority Investors: Chad 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.
Registering Property: Chad made transferring property easier by lowering the property transfer tax.
Trading across Borders: Chad made trading across borders more difficult by introducing a new export and import document.
Starting a Business: Chad made starting a business easier by setting up a one-stop shop.
Starting a Business: Chad made starting a business easier by eliminating the requirement for a medical certificate and 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 registration.
Getting Credit: Access to credit in Chad was improved through amendments to the OHADA 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.
Paying Taxes: Chad increased taxes on business through changes to its social security contribution rates.
Getting Credit: In Chad and other members of the Central African Monetary Union, the regional public credit registry provided online access to information for banks, simplifying the task of filing and retrieving information in the public registry and allowing expanded coverage of borrowers.