reference of the business organization code ethiopia
The business organization code in Ethiopia refers to the legal framework that governs the establishment, operation, and management of businesses in the country. The main reference for the business organization code in Ethiopia is the Ethiopian Commercial Code.
The Ethiopian Commercial Code, enacted in 1960, provides regulations and guidelines for various types of business entities, including partnerships, limited liability companies, joint ventures, and branches of foreign companies. The code outlines requirements for business registration, corporate governance, financial reporting, taxation, and other aspects of business operation.
In addition to the Ethiopian Commercial Code, there are other laws and regulations that businesses in Ethiopia need to comply with, such as the Investment Proclamation, which governs foreign investment, and sector-specific laws and regulations applicable to certain industries.
The Ethiopian Investment Commission (EIC) is the main regulatory body responsible for implementing and enforcing the business organization code in Ethiopia. It provides guidance to investors, facilitates business registration, and ensures compliance with the relevant laws and regulations.
It's important for businesses operating in Ethiopia to familiarize themselves with the business organization code and consult legal experts or professional advisors to ensure compliance with all applicable laws and regulations.