Business Formation

Verify the uniqueness of the company name

Agency: Chamber of Commerce and Industry

The company founders must request a name search at the Chamber of Commerce, where this is performed online by the Chamber staff. Alternatively, company notary may also perform the search for a unique company name online. The company founders do not currently have access to the online name search portal.

Time and cost: 1 day, SRD 100

Obtain the extract and nationality declaration for each founder from the Civil Registry

Agency: Civil Registry

Each of the company founders must obtain an extract and nationality declaration from the Civil Registry. The cost for the documents is SRD 1 per set; so for 5 founders, the cost is SRD 5.

Time and cost: 1 day, SRD 5 (SRD 1 per founder)

Draft and notarize the articles of association

Agency: Notary

Limited liability companies must be founded through a notarized act, written in Dutch. The company must submit draft articles of association and a request to start the company so the notary can provide a declaration.

Fee schedule for notarizing articles of association: SRD 2,100 for the first SRD 1,000 of nominal capital. For the outstanding amount of nominal capital, an extra SRD 85 is added for every SRD 1,000.

In addition, the notaries collect SRD 500 stamp fee for Procedure 4 and the SRD 27 stamp fee for Procedure 5. In addition, a turnover tax of 8% of the total fee is paid for the notary’s service.

Time and cost: 4 days on average, see procedure details

Apply for company registration at the Trade Register of the Chamber of Commerce

Agency: Chamber of Commerce and Industry

The founders may elect to register the company at the Trade Registry either before or after company incorporation. If the company is already incorporated then only a certified copy of the deed is submitted.

If the company is not yet incorporated, then the following documents must be filed with the Trade Register to apply for company registration:

  • Draft of statutes;
  • Letter from notary on founding of the limited liability company;
  • Recent passport picture of each founder (one);
  • Passport or identity card of each founder (copy);
  • Extract from Civil Registry of each founder (one).

The annual registration fee of a company is max. 100 SRD, and the administration fee of 50 SRD. The annual registration fee is also referred to as the contribution fee.

Time and cost: 1 day on average, SRD 150

Register the approved act with the Trade Register of the Chamber of Commerce and Industry

Agency: Chamber of Commerce and Industry

The approved act must be registered at the Trade Register of the Chamber of Commerce and Industry.

Time and cost: 1 day (simultaneous with previous procedure), no charge

Register for taxes at the tax office of the Ministry of Finance

Agency: Ministry of Finance

With the registration extract, the founder can obtain the tax number. The registration must be completed in person. Suriname has a self-assessment system for taxes. Limited liability companies pay a fixed tariff. Regardless of the taxable income, the tariff is 36% a year. Turnover tax on taxable services is 8%, and on taxable goods, 10%. The self-assessment forms must be filled out by the company and submitted to the Tax Office.

Time and cost: 2 days on average (simultaneous with previous procedure), no charge

Buy accident insurance

Agency: Insurance company

All companies must provide their employees with accident insurance.

Time and cost: 2 days on average (simultaneous with previous procedure), SRD 60 per person

Obtain the trade license

Agency: Minister of Trade

A one-stop shop in the Chamber of Commerce centralizes all the steps for the SRD 399.50 fee. Since March 2014, the trade license is obtained through an electronic system.

Time and cost: 2 months (simultaneous with previous procedure), SRD 399,50