Togo : 85% of LLCs created in 2018 were without a notarial deed

Economic governance
Monday, 25 March 2019 15:51
Togo : 85% of LLCs created in 2018 were without a notarial deed

(Togo First) - In Togo, 85% of LLCs created in 2018 were under a private deed, meaning involving no notarial deed. This equals 2,200 companies over a total of 2,587, the rest having been established with a notarial deed.

This data comes from the Centre for Business Formalities (CFE) and reflects the multiple reforms initiated by the government in the recent years to improve business formalization.

More specifically, in 2014, an interministerial decree enabling the creation of LLCs without a notarial deed was adopted.

Moreover, it is now possible to create a business within seven hours (since last February) and registration applications are submitted at the CFE’s desk all working days, from 7:30 AM to 2PM.

Ayi Renaud Dossavi

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