Law 2019-47 of 29 May 2019 on improving the business climate

The law adopted on 29 May 2019 simplifies the creation of businesses, inter alia, by eliminating the obligation to obtain the certificate of deposit of share capital with a credit institution when the company is set up; allowing legal persons to create a one-person limited liability company (SUARL) and entrust its management to a manager; setting a maximum period of three months from the filing of the request to rule on the change of vocation of agricultural land, and creating within the Tunisia Investment Authority a commission for the approval and granting of authorizations which will obligatorily rule on the authorizations required for the realization of investments including requests for the decommissioning of agricultural land.

Also, it authorizes Time-Share companies to use a third of the accommodation units produced for ordinary accommodation. And, it allows foreign companies established in Tunisia to create subsidiaries for the marketing of their products made in Tunisia without the need to obtain a merchant card.

• Type:

  • Entry and establishment (Approval and admission)
  • Promotion and facilitation (Investment facilitation )

• Industry:

  • Not industry specific

• Sources:

  • Tunisia Investment Authority, Law 2019-47 of May 29, 2019 on improving the business climate, https://www.tia.gov.tn/en/legal/1, 29 May 2019