Reporters from www.guineaecuatorialpress.com had the opportunity to speak to the Coordinator of the Single Business Window, Francisco Javier Meye Obono, to get to know the operations of this new entity created by the Government for the reduction of procedures for the creation, modification and registration of companies in the Republic of Equatorial Guinea.
Francisco Javier Meye Obono underlined the fact that the Single Business Window (SBW) came about as a consequence of recommendations in the Final Minutes from the Second national Economic Conference, held in Bata in 2007: The Single Business Window was created via Decree No. 67/2017, of 12th September, as a service under the Ministry for Trade and the Promotion of Small and Medium-sized Businesses, for the simplification of operations involved in the creation, modification and registry of companies in the Republic of Equatorial Guinea. The Official Launch of the Single Business Window was on 14th January this year, at a ceremony overseen by the Minister for Trade and the Promotion of Small and Medium-sized Businesses”.
He also added that the SBW is a space created to support professionals, the self-employed and entrepreneurs with the creation, modification or registry of companies, through the provision of integrated services for business processing and advice. The model follows four main principles: attention at a single point; the simplification of administrative processes; non-dependence on people; and the implementation of a single fee for the setting up of a company.
The SBW is structured organically and functionally in five management units:
1. Technical Unit; responsible for ensuring the reception and verification of the file for the application, approval, attention, information and advice for administrators, and management of the payment of the single fee for the setting up or modification of companies, or approval for the self-employed.
2. Notary Unit: responsible for the authentication of company proceedings.
3. Commercial Register Unit; responsible for the recording in the Commercial Register and the issue of forms corresponding to these services.
4. Fiscal Identification Unit:responsible for allocating the Fiscal Identity Number (NIF).
5. General State treasury Unit: responsible for confirmations and payments to the Public Treasury.
The SBW Coordinator also pointed out the contributions by the body:
– Simplifying the process for registering companies in the Republic of Equatorial Guinea, grouping in a single block all the public administrations with powers within the process of business registration.
– Boosting a business culture promoting the creation of new companies.
– Significantly reducing the periods necessary for the creation, establishment, modification and registry of a company.
– Offering consultancy services to entrepreneurs in business matters, in aspects regarding trade, economic forecasts, market information, infrastructures, Information and communication technology, etc., in such away that they can have the information necessary in order to minimise risk for their businesses.
Since the opening of the SBW the following has been achieved: We have received a total of one hundred and twenty-five visitors, 63 files have been processed, with 16 completed and 47 in progress, from which Limited Companies represent 86% and the self-employed 14%”.
It should be pointed out that 100% of the income generated go directly to the General State Treasury. The costs are based on each process and specific personal and company characteristics, in accordance with the current Law on Fees (1% notary; 2% NIF; 100,000 F. CFA and 1,000,000 F. CFA Commercial Register, 3,000 F. CFA Clearance Certificate).
Currently the time spent to complete an application from reception is five days; in the case of the self-employed it is one day. For share capital below 10 million, a fixed fee of 100,000 F. CFA is applied; for Share capital above 10 million a fixed fee of 1,000,000 F. CFA is applied.
The SBW web is operational at: www.ventanillaempresarialge.com
I could not end this intervention without expressing in the name of the personnel at the Single Business Window and in my own the highest tribute to H. E. Obiang Nguema Mbasogo, President of the Republic, for being the guarantor and promoter of this macro project that today we have in our country, and the excellent ministers for Trade and the Promotion of Small and Medium-sized Businesses. Thank you”.
Source: Equatorial Guinea Press and Information Office