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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REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.