Initiative to Simplify Business Registration

In El Salvador a proposal has been made to reform the Commercial Code to eliminate the requirement for a public inscription to register companies whose initial capital is less than $100 thousand.
The proposal is part of a series of reforms proposed by the Regulatory Improvement Organization (OMR), to reduce costs and streamline procedures to start new businesses in the country.  

"... The OMR proposes that companies whose establishment capital is less than $100,000, and that do not belong to special schemes, can be constituted by filling out a form. The director of OMR explained that the proposal is based on international experience, because in other countries the public inscription is not part of the requirements to create a partnership, but rather it is done through a form."

Elmundo.sv reports that "...Another of the projects of the OMR still to be formalised is also related to the opening of companies. The re-launch of the MiEmpresa.gob.sv website is scheduled for August.  The website, which is a one-stop shop for the Ministry of Economy (Minec) and the CNR, allows users to enter all the information they need to open a company, or even obtain their Tax Identification Number (NIT)."

Source: Elmundo.sv