Tunisia.com
Business In Tunisia
Doing Business in Tunisia
If you are considering investing or actively participating in an economy that has been rated as the most competitive African economy (world economic forum, competitive report 2005-2006), then you should also be taking the following into account.
When investing in the Tunisian Economy you will have the freedom to invest in a wide range of varying industries. It's geographical location and proximity to other markets are favourable. Tunisia possesses a skilled labour force, with a willingness and ability to master new skills and technologies. Legal protection for foreign investors, and a functional infrastructure that is continuously improving.
Tunisia's legal and regulatory environment is characterized by its transparency, liberalism and efficiency. It is materialized by a favourable business law, reduced tariff barriers, a flexible tax system and simple and homogeneous rules for investment.
An Encouraging Tax System : All exports derived income benefits from a total exemption for 10years.
A Complete Freedom for Transfer
: Foreign investors benefit from the free transfer of their profits and capital. The Tunisian Dinar is convertible for current transactions since 1994.
Here is some additional useful information:
Office hours
Administration offices are open from Monday to Thursday, from 8:30 a.m. to 1 p.m. and from 3 p.m. to 5:45 p.m., on Friday from 8:30 to 1 p.m. and on Saturday from 8 a.m. to 1:30 p.m.
Financial institutions work five days a week.
In summertime and during the month of Ramadhan, the continuous workday system is applied (one work period per day in the morning with no break for lunch, ex: from 7:30 a.m. to 2 p.m.).
Legal holidays
- January 1: New Years Day
- March 20: Independence Day
- March 21: Youth Day
- April 9: Martyrs Day
- May 1: Labor Day
- July 25: Republic Day
- August 13: Woman' Day
- November 7: November 7 Anniversary
- According to the Hejirian calendar (islamic):
- A?d el Idha (2 days)
- A?d el Fitr (2 days)
- Al Mouled (1 day)
- Hejra New Years (1 day)
Stability
Tunisia has a clear vision of its development. The economic reforms of the country are intended to be global and progressive.
Tunisia's government actions have allowed the country to avoid turbulent economic movements. One should note the rare fact that the Asia crisis and its consequences had a weak impact in Tunisia due to the priority given to long-term foreign investment and to a stable currency not-indexed to a single currency.
Investor Incentives
Numerous incentives are offered in the form of tax exemptions, investment subsidies and the assumption of infrastructure expenses and employer social security contributions.
The procedures to start a company are done at a one-stop window that gathers all the concerned administrations at The Agency for the Promotion of Industry, API.
Starting a business
The legal incorporation of a business makes every business venture less risky and increases its longevity and its likelihood of success (Djankov et al, 2001). In a recent World Bank survey on the costs of doing business, Tunisia scores relatively high in several business entry indicators (World Bank 2003b). Business registration is relatively fast and efficient in Tunisia when compared with countries at similar levels of economic development.
It takes 9 procedures and 47 days to start up a business in Tunisia. By contrast, in Hungary, although the number of procedures is only 5, it takes about 65 days to start up a business.
The one-stop shop (guichet unique) of the Industry Promotion Agency (API), which was certified ISO 9002 in June 2000, has undoubtedly facilitated business registration and start up in the manufacturing sector. It informs prospective entrepreneurs on the procedures for statistical and tax registration, assists with on-line registration, provides 24hour responses to business related queries and maintains a detailed database on the registered companies.
Public Limited Company "SA"
Public Limited Company "" requires at least 7 shareholders who can be either natural persons or legal entities. The maximum lifetime of such a company is 99 years.
The minimum capital is TND 50,000 if the company does not call publicly for savings. When it calls publicly for savings, the minimum capital is TND 150,000. In both cases the nominal amount of a share cannot be less than 5 dinars.
One quarter of the subscribed shares in cash should be paid-up at the time of company' incorporation. Payment of the balance should be made in one or more installments within a period of five years from the date of the company' registration.
The shares of a Public Limited Company is required to appoint an auditor for three years with the mandate of checking the accounts of the company and presenting audit reports to the general meeting of the shareholders.
Limited Liability Company "SARL"
The SARL is a company with two shareholders or more whose liability is limited to their contributions. When a Limited Liability Company is made up of only one shareholder, it is called a Company Owned by a Sole Proprietor ""
The partnership shares representing the capital stock are not freely transferable. The incorporation procedures are simpler than for a Public Limited Company.
The minimum capital for a Limited Liability Company is TND 10,000, which should be fully paid up at the time of the company' constitution. The minimum nominal value for one share is five dinars.
The shares of a Public Limited Company is required to appoint an auditor for three years with the mandate of checking the accounts of the company and presenting audit reports to the general meeting of the shareholders, if the capital reaches TND 20,000.
Partnership Company Limited by Shares
The rules of its incorporation and operation are identical to those of a Public Limited Company.This type of company is seldom in Tunisia.Such a company has two types of associate companies:
Active partners
, who are traders and jointly and severally liable for the debts of the company.
Silent partners
, who are shareholders and whose liability is limited to their capital contributions.
The number of silent cannot be less than 3. The capital of a Partnership by Shares is TND 50,000.The contributions of silent partners should be fully paid up at the time of subscription.
Partnership Company
General partnerships
General partnerships are made up of two or more partners who are jointly and severally liable for the debts of the company. The partners, belonging to the company at the time of the commitment entered into, are jointly liable for their separate assets.
Limited Partnerships
Limited Partnerships have at least two active partners who are jointly and severally liable for the debts of the partnership and at least two silent partners whose liability is limited to their capital contributions.
Company by Participation
Company by Participation is a contract by which the contracting parties freely agree among themselves to determine their reciprocal rights and duties and how to allocate profits and losses from the project and they include their allocable shares of profits and losses in their taxable income.
Joint Venture
There is no specific legal statute for joint venture in Tunisia. Generally, joint ventures operate as partnerships in the form of a company.
Branch
The incorporation of a branch is relatively simple. The time limit and registration procedures are identical to those relating to Limited Liability Company. The directors of a branch act on behalf of the parent company and should therefore have a delegation of power.
Here are some guidelines of the things you will need if you wish to come to Tunisia to set up a buisiness,
Do I need a visa?
The visa requirements for business and for travel purposes are governed by the following conditions and rules:
Tourist or Business Visa Requirements
Passports - Required, but NOT by the following:
1) Holders of a valid Seaman Book travelling on duty
Passport validity - Passports must be valid for intended length of stay for British Citizens only
Visas - Required, but NOT by the following:
1) Nationals of Tunisia
2) For a stay up to 3 months by:
a) British subjects being `Citizens of the United Kingdom & Colonies'
b) Nationals of Algeria, Antigua, Austria, Bahrain, Barbados, Belgium, Belize, Bermuda, Bosnia & Herzegovina, British Virgin Islands, Brunei Darussalam, Bulgaria, Canada, Chile, Cote d', Croatia, Denmark, Dominica, Falkland Is, Fiji, Finland, France, Gambia, Germany, Gibraltar, Gilbert Islands, Greece, Guinea, Hong Kong, Hungary, Iceland, Ireland Rep, Italy, Japan, Kiribati, Korea (South), Kuwait, Libya, Liechtenstein, Luxembourg, Macedonia, Malaysia, Mali, Malta, Mauritania, Mauritius, Monaco, Montenegro, Montserrat, Morocco, Netherlands, Niger, Norway, Oman, Portugal, Qatar, Romania, Saint Helena, St. Kitts & Nevis, St. Lucia, St. Vincent & Grenadines, San Marino, Saudi Arabia, Senegal, Serbia, Seychelles, Slovenia, Solomon Is, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, United States, Vatican City & Yugoslavia
3) For an unlimited stay by holders of diplomatic or special passports issued to nationals of Cote d', Egypt, Korea South, Spain & Switzerland
4) Holders of diplomatic or special passports issued to nationals of Bulgaria, Italy & Poland
5) For an unlimited stay by holders of diplomatic passports and for a stay up to 6 months by holders of special passports issued to nationals of Brazil
6) For a stay up to 3 months by holders of diplomatic or special passports issued to nationals of Belgium, Benin, Luxembourg, Netherlands, Pakistan & Thailand
7) For a stay up to 1 month by holders of diplomatic or special passports issued to nationals of Hungary
Special notes:
1) Nationals of Australia & South Africa can obtain a visa on arrival
Transit - Required by all except those as noted above and:
2) Persons continuing their journey by the same or first connecting aircraft within 48 hours provided holding confirmed tickets and documents
3) Nationals of China, Lebanon & Syria must continue their journey within 24 hours
4)If traveling in a group or tour organized by a travel agency, a representative of the agency must submit a passenger list giving names and nationalities of all members to the Special Service of the National Police.
Showing 3 comments
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tunisiadotcom Love the weather in Bizerte at the moment.....Hate this crazy Hayfever!! 5 days ago reply
tunisiadotcom @sandromancuso Have a great time! 5 days ago reply
tunisiadotcom @zizoo I must twitter more I have got myself a netbook now so i should have no excuse! 5 days ago reply
tunisiadotcom @jonasQuinn23 North Africa just beneath Italy 10 million people or so. Its about the same size of the UK but less folks 5 days ago reply
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Tunisia.com
Business In Tunisia
Doing Business in Tunisia
If you are considering investing or actively participating in an economy that has been rated as the most competitive African economy (world economic forum, competitive report 2005-2006), then you should also be taking the following into account.
When investing in the Tunisian Economy you will have the freedom to invest in a wide range of varying industries. It's geographical location and proximity to other markets are favourable. Tunisia possesses a skilled labour force, with a willingness and ability to master new skills and technologies. Legal protection for foreign investors, and a functional infrastructure that is continuously improving.
Tunisia's legal and regulatory environment is characterized by its transparency, liberalism and efficiency. It is materialized by a favourable business law, reduced tariff barriers, a flexible tax system and simple and homogeneous rules for investment.
An Encouraging Tax System : All exports derived income benefits from a total exemption for 10years.
A Complete Freedom for Transfer
: Foreign investors benefit from the free transfer of their profits and capital. The Tunisian Dinar is convertible for current transactions since 1994.
Here is some additional useful information:
Office hours
Administration offices are open from Monday to Thursday, from 8:30 a.m. to 1 p.m. and from 3 p.m. to 5:45 p.m., on Friday from 8:30 to 1 p.m. and on Saturday from 8 a.m. to 1:30 p.m.
Financial institutions work five days a week.
In summertime and during the month of Ramadhan, the continuous workday system is applied (one work period per day in the morning with no break for lunch, ex: from 7:30 a.m. to 2 p.m.).
Legal holidays
- January 1: New Years Day
- March 20: Independence Day
- March 21: Youth Day
- April 9: Martyrs Day
- May 1: Labor Day
- July 25: Republic Day
- August 13: Woman' Day
- November 7: November 7 Anniversary
- According to the Hejirian calendar (islamic):
- A?d el Idha (2 days)
- A?d el Fitr (2 days)
- Al Mouled (1 day)
- Hejra New Years (1 day)
Stability
Tunisia has a clear vision of its development. The economic reforms of the country are intended to be global and progressive.
Tunisia's government actions have allowed the country to avoid turbulent economic movements. One should note the rare fact that the Asia crisis and its consequences had a weak impact in Tunisia due to the priority given to long-term foreign investment and to a stable currency not-indexed to a single currency.
Investor Incentives
Numerous incentives are offered in the form of tax exemptions, investment subsidies and the assumption of infrastructure expenses and employer social security contributions.
The procedures to start a company are done at a one-stop window that gathers all the concerned administrations at The Agency for the Promotion of Industry, API.
Starting a business
The legal incorporation of a business makes every business venture less risky and increases its longevity and its likelihood of success (Djankov et al, 2001). In a recent World Bank survey on the costs of doing business, Tunisia scores relatively high in several business entry indicators (World Bank 2003b). Business registration is relatively fast and efficient in Tunisia when compared with countries at similar levels of economic development.
It takes 9 procedures and 47 days to start up a business in Tunisia. By contrast, in Hungary, although the number of procedures is only 5, it takes about 65 days to start up a business.
The one-stop shop (guichet unique) of the Industry Promotion Agency (API), which was certified ISO 9002 in June 2000, has undoubtedly facilitated business registration and start up in the manufacturing sector. It informs prospective entrepreneurs on the procedures for statistical and tax registration, assists with on-line registration, provides 24hour responses to business related queries and maintains a detailed database on the registered companies.
Public Limited Company "SA"
Public Limited Company "" requires at least 7 shareholders who can be either natural persons or legal entities. The maximum lifetime of such a company is 99 years.
The minimum capital is TND 50,000 if the company does not call publicly for savings. When it calls publicly for savings, the minimum capital is TND 150,000. In both cases the nominal amount of a share cannot be less than 5 dinars.
One quarter of the subscribed shares in cash should be paid-up at the time of company' incorporation. Payment of the balance should be made in one or more installments within a period of five years from the date of the company' registration.
The shares of a Public Limited Company is required to appoint an auditor for three years with the mandate of checking the accounts of the company and presenting audit reports to the general meeting of the shareholders.
Limited Liability Company "SARL"
The SARL is a company with two shareholders or more whose liability is limited to their contributions. When a Limited Liability Company is made up of only one shareholder, it is called a Company Owned by a Sole Proprietor ""
The partnership shares representing the capital stock are not freely transferable. The incorporation procedures are simpler than for a Public Limited Company.
The minimum capital for a Limited Liability Company is TND 10,000, which should be fully paid up at the time of the company' constitution. The minimum nominal value for one share is five dinars.
The shares of a Public Limited Company is required to appoint an auditor for three years with the mandate of checking the accounts of the company and presenting audit reports to the general meeting of the shareholders, if the capital reaches TND 20,000.
Partnership Company Limited by Shares
The rules of its incorporation and operation are identical to those of a Public Limited Company.This type of company is seldom in Tunisia.Such a company has two types of associate companies:
Active partners
, who are traders and jointly and severally liable for the debts of the company.
Silent partners
, who are shareholders and whose liability is limited to their capital contributions.
The number of silent cannot be less than 3. The capital of a Partnership by Shares is TND 50,000.The contributions of silent partners should be fully paid up at the time of subscription.
Partnership Company
General partnerships
General partnerships are made up of two or more partners who are jointly and severally liable for the debts of the company. The partners, belonging to the company at the time of the commitment entered into, are jointly liable for their separate assets.
Limited Partnerships
Limited Partnerships have at least two active partners who are jointly and severally liable for the debts of the partnership and at least two silent partners whose liability is limited to their capital contributions.
Company by Participation
Company by Participation is a contract by which the contracting parties freely agree among themselves to determine their reciprocal rights and duties and how to allocate profits and losses from the project and they include their allocable shares of profits and losses in their taxable income.
Joint Venture
There is no specific legal statute for joint venture in Tunisia. Generally, joint ventures operate as partnerships in the form of a company.
Branch
The incorporation of a branch is relatively simple. The time limit and registration procedures are identical to those relating to Limited Liability Company. The directors of a branch act on behalf of the parent company and should therefore have a delegation of power.
Here are some guidelines of the things you will need if you wish to come to Tunisia to set up a buisiness,
Do I need a visa?
The visa requirements for business and for travel purposes are governed by the following conditions and rules:
Tourist or Business Visa Requirements
Passports - Required, but NOT by the following:
1) Holders of a valid Seaman Book travelling on duty
Passport validity - Passports must be valid for intended length of stay for British Citizens only
Visas - Required, but NOT by the following:
1) Nationals of Tunisia
2) For a stay up to 3 months by:
a) British subjects being `Citizens of the United Kingdom & Colonies'
b) Nationals of Algeria, Antigua, Austria, Bahrain, Barbados, Belgium, Belize, Bermuda, Bosnia & Herzegovina, British Virgin Islands, Brunei Darussalam, Bulgaria, Canada, Chile, Cote d', Croatia, Denmark, Dominica, Falkland Is, Fiji, Finland, France, Gambia, Germany, Gibraltar, Gilbert Islands, Greece, Guinea, Hong Kong, Hungary, Iceland, Ireland Rep, Italy, Japan, Kiribati, Korea (South), Kuwait, Libya, Liechtenstein, Luxembourg, Macedonia, Malaysia, Mali, Malta, Mauritania, Mauritius, Monaco, Montenegro, Montserrat, Morocco, Netherlands, Niger, Norway, Oman, Portugal, Qatar, Romania, Saint Helena, St. Kitts & Nevis, St. Lucia, St. Vincent & Grenadines, San Marino, Saudi Arabia, Senegal, Serbia, Seychelles, Slovenia, Solomon Is, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, United States, Vatican City & Yugoslavia
3) For an unlimited stay by holders of diplomatic or special passports issued to nationals of Cote d', Egypt, Korea South, Spain & Switzerland
4) Holders of diplomatic or special passports issued to nationals of Bulgaria, Italy & Poland
5) For an unlimited stay by holders of diplomatic passports and for a stay up to 6 months by holders of special passports issued to nationals of Brazil
6) For a stay up to 3 months by holders of diplomatic or special passports issued to nationals of Belgium, Benin, Luxembourg, Netherlands, Pakistan & Thailand
7) For a stay up to 1 month by holders of diplomatic or special passports issued to nationals of Hungary
Special notes:
1) Nationals of Australia & South Africa can obtain a visa on arrival
Transit - Required by all except those as noted above and:
2) Persons continuing their journey by the same or first connecting aircraft within 48 hours provided holding confirmed tickets and documents
3) Nationals of China, Lebanon & Syria must continue their journey within 24 hours
4)If traveling in a group or tour organized by a travel agency, a representative of the agency must submit a passenger list giving names and nationalities of all members to the Special Service of the National Police.
Showing 3 comments
Popular Hotels
BEL AIR HOTEL
The Bel Air Hotel located at Hammamet, a beautiful city, the flower of Tunisian tourism, at 60km from Tunis Carthage airport, 100km from Monastir airport. The Bel Air...El Mouradi Palm Marina
Location Built in Hispano-Moorish style close to the marina at Port el Kantaoui, dotted with gardens leading to a beach of fine sand, the El Mouradi Palm Marina is the...Hôtel Diar Lemdina
Located in the heart of Yasmine Hammamet beach resort, 650 feet from the sea, Medina Mediterranea is a magic town dedicated to culture and leisure spread on more than...NESRINE
The seaside Hotel Nesrine is characterised by its Moorish architecture and is set amidst tropical gardens, six kilometres from the buzz of Hammamet city. The 274 air- conditioned guestrooms...
tunisiadotcom Love the weather in Bizerte at the moment.....Hate this crazy Hayfever!! 5 days ago reply
tunisiadotcom @sandromancuso Have a great time! 5 days ago reply
tunisiadotcom @zizoo I must twitter more I have got myself a netbook now so i should have no excuse! 5 days ago reply
tunisiadotcom @jonasQuinn23 North Africa just beneath Italy 10 million people or so. Its about the same size of the UK but less folks 5 days ago reply
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