Govt targeting 24-hour business license turnaround by year’s end

The government is hoping to have a 24-hour turnaround for the time taken to obtain a new business license and to renew an existing business license by the end of this year.

According to the Prime Minister’s Delivery Unit (PMDU) report tabled earlier this week in the House of Assembly, in 2019 the turnaround time to obtain a new business license was 29 days and the turnaround time to renew was 52 days.

Last year the government successfully reduced that turnaround time from 28 and 32 days respectively to now six days.

This improvement in time to complete government processes was also seen in the time taken to obtain construction permits, which dropped from 71 days in 2019 to 55 days last year.

The government has set a target for the turnaround in obtaining construction permits to 30 days by the end of the year.

The PMDU report states that the government has already negotiated a contract with a vendor for an electronic plan processing system which will further expedite the processing time for construction permits.

But while there was an improvement in business license and construction permit processes, there was an increase in the amount of time taken to register a property. That process increased from 23 days in 2019, to 31 days last year.

The government is hoping to streamline that process to take only 14 days by the end of the year. Toward this end, the government noted it has taken steps, including publishing a fee schedule, to inform the public about the costs associated with registering a property transaction at the Registrar General’s Office. It has also provided statistics to keep the public updated on the number of property conveyances registered each month.

“The government intends to continue on its ambitious path to strengthen The Bahamas’ business and regulatory frameworks through the introduction of legal, structural and technological reforms,” the PMDU report states.

“Forthcoming changes include online NIB payments, court automation, insolvency reform, a fully operational credit bureau, a moveable asset collateral registry, an electronic building plan processing system and a consolidated system for company incorporation and business license and VAT applications.”

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source https://thenassauguardian.com/govt-targeting-24-hour-business-license-turnaround-by-years-end/