Establishing a business in Suriname
Suriname is a country with extensive natural resource, fresh water and a large tropical rainforest. The temperature is very favorable for agricultural activities. Recently, the Surinamese Government has invested heavily in infrastructural development resulting in the rehabilitation, and expansion of the (sea) port and the renovation the international airport.
Attractive for investors is the fact that there are a number of sectors that still have ample room for growth like:
- The tourism sector and all supplying industries such as the hotel industries, the hospitality industry and the service industry
- The mining sector
- The oil sector
- The production sector such as agriculture, stock breeding, fishery and all supplying industries
The Ministry of Trade and Industry is working hard towards improving the business climate and also simplifying the procedures for doing business in Suriname. This includes procedures for obtaining permits. Also steps have been taken to create a 24/7 economy, which will extend the hours of economic activities and create many more job opportunities.
According to the law several business activities require a license. Registration in the Trade Register of the Chamber of Commerce is also mandatory for all business in Suriname.
The Government has taken steps to improve the investment climate in Suriname and also to improve the international ranking of Suriname on the "Ease of Doing Business" list of the World Bank. Investors nowadays are looking for the most favorable environment which lead to competition between countries and also between companies on regional and international level.
To compete internationally as investment environment and to keep up with trends the Ministry of Trade and Industry has recently announced that as of September 7, 2015, applications for licenses can only be submitted and collected at the One Stop Window of the Chamber of Commerce and Industry (KKF). In addition to the abovementioned, the handling procedures for issuance of business permits are also expedited.
Detailed information on which specific businesses and professions require a license is available at the Chamber of Commerce & Industry and the licensing department of the Ministry of Trade and Industry www.gov.sr/ministerie-van-hi.aspx .
For businesses and professions, which no longer require a license it is sufficient to register at the Chamber of Commerce and Industry under their applicable conditions.
The Ministry of Trade remains, as required by law, responsible for the approval of business licenses
Depending on the business preference the average waiting period for a license is minimum 30 working days. Before registering however it is very important to think about the legal entity that best suits the business model because the registration fee is non-refundable.
Important addresses for Trade Relations in Suriname
|1.||Ministry of Trade and Industry
Phone: (597) 402080/402886
|2.||Chamber of Commerce and Industry of Suriname
Kamer van Koophandel en Fabrieken (KKF)
Prof. W.J.A. Kernkampweg
Paramaribo – Suriname
Phone (597) 530311/530313
Fax: (597) 437971
|3.||Associatie van Surinaamse Fabrikanten (ASFA)
Association of Surinamese Manafacturers
Mr. J. Lachmonstraat 187
|4.||Vereniging Surinaams Bedrijfsleven (VSB)
Suriname Trade and Industry Association
Prins Hendrikstraat 18
|5.||Suriname-India Investments & Trade Promotion Organization (SITPO)
|6.||Associatie van Kleine en Middelgrote Bedrijven in Suriname (AKMOS)
Association of Small and Medium Entrepreneurs in Suriname
Van Raderstraat 11
Phone :(597) 420292
Fax: (597) 581429
|7.||Suriname Business Forum (SBF)
Mottonshoop – Paramaribo
Phone: (597) 499010
Fax: (597) 499011
E-mail: firstname.lastname@example.org / email@example.com
|8.||Women Business Group (WBG)
Frederick Derbystraat 64b
Phone :(597) 425940
Fax: (597) 424697