Economy Profile: Burundi - Doing Business

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Doing Business 2013 Burundi 20 STARTING A BUSINESS Economies around the world have taken steps making it easier to start a business—streamlining procedures by setting up a one-stop shop, making procedures simpler or faster by introducing technology and reducing or eliminating minimum capital requirements. Many have undertaken business registration reforms in stages—and they often are part of a larger regulatory reform program. Among the benefits have been greater firm satisfaction and savings and more registered businesses, financial resources and job opportunities. What business registration reforms has Doing Business recorded in Burundi (table 2.2)? Table 2.2 How has Burundi made starting a business easier—or not? By Doing Business report year DB year Reform DB2008 DB2009 DB2010 DB2011 DB2012 No reform as measured by Doing Business. No reform as measured by Doing Business. No reform as measured by Doing Business. No reform as measured by Doing Business. No reform as measured by Doing Business. Burundi made starting a business easier by eliminating the requirements to have company documents notarized, to DB2013 publish information on new companies in a journal and to register new companies with the Ministry of Trade and Industry. Note: For information on reforms in earlier years (back to DB2005), see the Doing Business reports for these years, available at http://www.doingbusiness.org. Source: Doing Business database.
Doing Business 2013 Burundi 21 STARTING A BUSINESS What are the details? Underlying the indicators shown in this chapter for Burundi is a set of specific procedures—the bureaucratic and legal steps that an entrepreneur must complete to incorporate and register a new firm. These are identified by Doing Business through collaboration with relevant local professionals and the study of laws, regulations and publicly available information on business entry in that economy. Following is a detailed summary of those procedures, along with the associated time and cost. These procedures are those that apply to a company matching the standard assumptions (the “standardized company”) used by Doing Business in collecting the data (see the section in this chapter on what the indicators measure). STANDARDIZED COMPANY City: Bujumbura Legal Form: Société à Responsabilité Limitée (SARL) - Limited Liability Company Paid in Minimum Capital Requirement: None Start-up Capital: 10 times GNI per capita Summary of procedures for starting a business in Burundi—and the time and cost No. Procedure Submit all documents at the API and obtain registration certificate and NIF Time to complete Cost to complete The following documents need to be submitted at API: 1 • Application form for the creation of a new company (includes name of the company, type of company, address, initial capital, number of partners and their names, contribution of each partner) • Standard company statutes • Application form for registration with the Greffe of the Tribunal de Commerce • Application form for registration with the OBR to obtain the NIF • Photos of all partners • Copy of identities of all partners Applicant first deposits all these documents at the API and then pays the registration fees of BIF 42,500 at the API (same person collecting the documents also collect the fees). API provides the applicant with a receipt that he needs to show as evidence of payment when picking up the registration certificate. 4 days BIF 42,500 for a LLC performing general commercial activities A representative/agent for API takes all the files to the OBR where a representative from the greffier also sits. First, greffier checks the registration application and issue a registration certificate (a matter of minutes). This certificate is then transmitted to the OBR representative (they sit next to each other – 2 desks next to each other). OBR representative checks the application and issues a NIF number.
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