Property transfer : Number of submissions grow significantly while processing period reduces to 6 days

Economic governance
Tuesday, 09 July 2019 17:40
Property transfer : Number of submissions grow significantly while processing period reduces to 6 days

(Togo First) - From 10 days, a year before, delay needed for property transfer in Togo at the end of May 2019 was six days. The figure was recently published by the land conservation agency.

Another major feat is that the number of cases processed last May was 40, against only 16 the same month in 2018.

This is attributed to multiple incentives put in place in the beginning of 2018 and augmented this year. The change has in effect propelled the number of property transfers, since January 2019, to more than 60 per month (60 in January and February, 66 in March, 65 in April, and 40 in May).

This year, the Togolese government initiated new reforms adding to others it created last year. This pushed up the country’s score and rankings on the Doing Business under the Property Transfer index.

Some of the new reforms include combining land conservation procedures, which enabled speeding up processes, and reducing registration and transfer fees to XOF35,000. A new tariff grid for notaries for property transfers was also created. To these were added, reforms for business creation, power connection, resolution of commercial and fiscal conflicts. These reforms improved Togo’s business environment and revamped economic activity in the second half of 2018, throughout this year, after slowing in 2017.

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