On 1 September 2021, the Ministry of Economy and Finance ("MEF") announced in a press release the launch of the Business Registration System on Information Technology Platform or online business registration platform ("OBR") Phase II. This Phase II launch was made following the successful implementation of Phase I which was launched on 15 June 2020.
During Phase I of the OBR Portal, the applicant for the registration of a main business can reach out to various main authorities depending on the nature of their business. These main authorities are:
- the Ministry of Commerce;
- the General Department of Taxation;
- the Ministry of Labour and Vocational Training;
- the Ministry of Interior;
- promote sound market conduct practices; and
- MEF.
OBR Phase II will be available to users from 1 September 2021. It includes four additional authorities from which businesspersons may request for licenses/permits/certificates. The four authorities are (i) the Ministry of Industry, Science, Technology and Innovation, (ii) the Ministry of Tourism, (iii) the Ministry of Post and Telecommunications and (iv) the Real Estate Business & Pawnshop Regulator of the Non-Bank Financial Services Authority.
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