Business registration operates as a single-point integrated service. Once you complete your business registration, you have also completed tax registration with the Rwanda Revenue Authority, employer registration with the Social Security Fund of Rwanda, and notification of business activities to the National Institute of Statistics of Rwanda. This integrated registration is achieved through the filling of a consolidated application form covering all the information required for registration and notification with the relevant agencies.
Entrepreneurs and Investors around the world hassle with business registration. After coming up with viable business ideas they want to launch or invest in, they slowed down and are sometimes completely demoralized by the excruciating business registration process in their respective countries.
Rwanda, a landlocked country in the East African Community, has rather chosen a path of fast progress and transformation. It has cut down business registration to only 24 hours and it is done online from anywhere in the world.
Rwanda’s achievement is significant because no single entrepreneur or investor wants to wait in line for business registration. This long wait at the office of registration, makes more entrepreneurs fail than anything else. As an entrepreneur goes through a hard process of registering their business, they begin to think and believe that even after registration, everything else will be hard, slow, and painful.
Therefore, most investors and entrepreneurs choose to stop at turn away from what could’ve become successful businesses and investments.
Rwanda is a role model for other African countries- 24 hours-attitude!
Other African countries must learn from Rwanda and cut down long processes, methodologies, and unnecessary procedures in the business and investment process. As a result, both nations, entrepreneurs, and investors stand to gain massively from the fast-launched businesses and investments.
Process of business registration in Rwanda
‘Business registration operates as a single-point integrated service. Once you complete your business registration, you have also completed tax registration with the Rwanda Revenue Authority, employer registration with the Social Security Fund of Rwanda, and notification of business activities to the National Institute of Statistics of Rwanda. This integrated registration is achieved through the filling of a consolidated application form covering all the information required for registration and notification with the relevant agencies.
Business Registration is concluded by the issuance of a business registration certificate that has a unique enterprise code that acts as a unique identifier of the business in relation to any public agency. The Enterprise/Company code is also the tax identification number (TIN).
The business registration services cover all businesses determined by the Company Law No 07/2009 of 27/04/2009 and/or the Ministerial Order N° 02/09/MINICOM of 08/05/2009.
The filling of the consolidated application form can be performed via the online registration service.’
For more information visit the Rwanda Development Board website.
And don’t forget to Visit Rwanda.
ABOUT THE AUTHOR: YYC. Visit our blog @ yeweyewe.com and find high-paying global online jobs.
