Approved by the Order of the Minister of Economy and Finance of Turkmenistan of November 7, 2003

The order of the Chief of the Main State Tax Service of Turkmenistan of November 7, 2003 No. 61-O

Regulations No. 31 on procedure for state registration of individual entrepreneurs without formation of legal entity

I. General provisions

This Provision is developed according to the Civil Code of Turkmenistan of Saparmurat Turkmenbasha, the Law of Turkmenistan "About business activity", resolutions of the President of Turkmenistan from 31 dates Garashsyzlyk 1996 No. 2848 "About simplification of the taxation of entrepreneurs without formation of legal entity" and from the 7th Nowruz of 1997 No. 3052 "About modification and amendments in some legal acts of Turkmenistan" and establishes in the territory of Turkmenistan single procedure for state registration of individual entrepreneurs without formation of legal entity.

II. Persons which are subject to state registration

1. The physical persons who showed willingness to perform business activity (as individually, and as a part of partnership) and recognized according to the Civil Code of Turkmenistan of Saparmurat Turkmenbasha individual entrepreneurs without formation of legal entity are subject to state registration.

Specified concerns as to citizens of Turkmenistan, and foreign citizens and stateless persons who intend to perform business activity in the territory of Turkmenistan.

2. Capable physical persons, that is the reached 18 years or which married before this age can be engaged in business activity if on the types of activity performed by them there is no age restriction.

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