Business in Turkmenistan (Ashgabat)
Population: 4 300 000
Currency: Turkmen Manat (TMM)
President:Mr. Gurbanguly Berdymuhammedov
Company registration in Turkmenistan:
Main company registration legal acts:
Company registration in Turkmenistan is regulated by Civil Code of Turkmenistan Republic (June, 06 2002), Law “On foreign investments” (May 19, 1992), Law “On investment activity” (May 19, 1992), Law “On enterprises” (June 15, 2000).
Main forms of business presence:
Private enterprise; Limited liability company; Joint stock company; Representative/Branch office
Minimum charter capital: from 10 000 US Dollars(depends on participants). Initially it is necessary to contribute 50% of the charter capital before company registration procedure start and other 50% of the charter capital have to be transfered to the within one year from time of registration.
Services for company registration:
- Preparation of constituent documents;
- Company registration in tax authorities;
- Ordering and receipt of the seal;
- Registration of company’s data in social funds;
- Notarial authentication of the bank cards;
- Opening of accumulative/current bank accounts in banks of Turkmenistan.
Preliminary information necessary for company registration*:
- Company’s name (there is no need to check it for uniqueness).
- Legal address in Turkmenistan (we may provide you with it upon request) and contact telephone;
- Information about Participants (Shareholders) and Director of the company (name, residence address, citizenship) and contact telephones;
- The size of charter capital of the company and methods of its contribution;
- Types of activity;
- Choice of bank, where accumulative/current accounts will be opened
*All documents is necessary to present in advance in order to translate them into Turkmen language. Our company retains the right to ask for additional documents. All documents have to be notarized by appropriate local authorities and legalised by the Turkmen Embassy in the country of Participants (Shareholders) or in accordance with Hague Convention (1961) must bear Apostille, issued by the approporiate state agency after the notarisation on each document.
Presence of participants (shareholders) during company registration: presence is not necessary – everything can be made with POA.
General term of company registration: about 2 months from time of forming charter capital and preparation of all necessary documents.