CORPORATE REGISTERS FORUM CONFERENCE

ABU DHABI 10-03-2015

Florence Motoa

Acting Registrar of companies and Director

One Stop Business Facilitation Center

Starting a businessStarting a businessBackgroundBackground

- Prior 2009 traders licences, permits and export visas and import permits were administered by parent ministries and agencies.

- Prior 2012 company registration was administered under the office of Registrar General.

- All these processes were manual and not integrated.- 2009 OBFC was established through a Memorandum Of

Understanding.

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OBFC Mandate

The mandate of the OBFC is to bring together and deliver a streamlined and integrated suite of business services for enterprises and investors. In this way the OBFC contributes in the investment climate, the ease of doing business, and the facilitation of increased trade and investment in Lesotho.

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SERVICESSERVICES

Where we are wit the OBFC

Starting a business in LesothoStarting a business in Lesotho

Action Time

1 Search company name 1-2 days

2 Lawyer handles registration 20 days

3 Stamp land lease 1 day

4 Public Health inspection 14 days

5 Apply for licence, register for tax 1 day

6 Open bank account, pay in capital 3 days*

7 Apply for insurance 1 day*

* May takes place simultaneously with another procedure.

Source: Doing Business 2012

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1 dayand register at OBFC

New on-line SystemKey Features

• Searching 24 hours a day, 7 days a week and is FREE

• Business Extract and Certificate of Incorporation is FREE

• Full suite of online services• Simplified Filing Requirements e.g Resolution• Simplified Fees e.g Directors• Automated Compliance Programme• Migrated existing companies register

OLD PROCEDURE

FILING ONLINE

WALK IN CLIENTS

Results and OutcomesResults and Outcomes• Improvements in the business environment• Increase in the number of businesses created• Increased exports• Increased Investment• Reduced turn around time

– Faster to start a business– Faster to import and export goods

• Cheaper to do business – Reduced costs to import and export a container of goods,

cheaper to start a business – The question we have to agree is by how much

• Reduced number of procedures– Remove some procedures to register a company, get a licence– Remove some procedures to get work permit, residence permit,

export visa, import permit, rebate certificate

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I THANK YOU FOR YOUR ATTENTION

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