Newly established LLCs were driven by private deed since March 2018  

Economic governance
Tuesday, 22 May 2018 14:11
Newly established LLCs were driven by private deed since March 2018  

(Togo First) - Since March 2018, about 600 limited liability companies (LLCs) were established by private deed, in Togo, according to a Business Climate Cell’s memo. This represents 85% out of a total of 704 LLCs established in Q2 2018, the document reveals.

This helped economic operators save CFA175,000 average while establishing their firm. Compared to Q2 2017 when 312 firms were established this way, the recent performance is significantly better (+92%), and it was driven by the various tax incentives implemented under the 2018 finance bill alongside an improved business environment.

Meanwhile, the number of new LLCs established by notarial deeds in Q2 2018 was 105 (15% of total number of LLCs created over the period). In 2017, this number represented 23% of established LLCs (96 out of 408).

According to data from the Centre of Business Formalities (CFE), throughout 2017, a total of 1767 firms were established; out of this, 1339 were established by private deed. The performance comfort the government’s decision to adopt the corresponding reform in 2014.

Fiacre E. Kakpo

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