The Ministry of Finance will roll out a provisional business license in the New Year to significantly reduce the time it takes to start a new business. This addition was approved by Parliament during the 2018/2019 budget exercise, and will be implemented by the Department of Inland Revenue in the first quarter of 2019.

“With a provisional licence it will take just five days or less to start a new business. This will be available to all low-risk businesses. It will be valid for 90 days, which means entrepreneurs can be up and running while they work to complete the full business licence process,” said Marlon Johnson, Financial Secretary.

The fee for starting a new business has also been removed, eliminating another barrier for entrepreneurs.

Read/download the press releases here:

• (Continue) New Year to bring several ‘ease of doing business’
  reforms for starting a new business
• Inland Revenue open on Saturdays in January to help
  with business licence renewals