Those who want to register a company will no longer need to open a temporary bank account and to deposit at least 40% of the company’s registered capital there, IPN reports, quoting a bill with amendments to legal acts that was drafted by the Ministry of Economy. They will also not need to register the company at the Local Tax Inspectorate, the National Social Insurance House and the National Health Insurance Company. The obtaining of stamp will become optional, IPN reports.

According to the informative bulletin of the Ministry of Economy, the bill will be examined and approved by the Government by the end of this year. The further simplification of the procedures for starting and running businesses forms part of the priorities set in the Government’s roadmap for eliminating critical constraints on the business sector for 2013-2014.

The roadmap contains policies that are to be implemented in 2013 and in the first half of 2014. The actions are aimed at removing constraints and problems existing in every intervention sector identified by the draft regulatory reform strategy and the World Bank report on the policy priorities for private sector development.