Twenty companies in Timor-Leste have permanently shut down

Twenty companies in Timor-Leste have permanently shut down

Executive Director for the Registration and Verification Service, Florêncio Sanches (Image Tatoli)

DILI, 24 August (TATOLI)– Executive Director of the Registration and Verification Service (SERVE), Florêncio Sanches, said in August 2020, there has been a total of 20 companies which have now permanently shut down their business in Timor-Leste.

“Unfortunately, a lot of entrepreneurs have asked to close their business activities in Timor-Leste, this August I received 20 companies closure forms stating that they wanted to stop their business, and last Friday I received an additional two requests to close their businesses,” the SERVE executive Director Florêncio Sanches at IADE conference hall, Bebora Dili.

Mr Sanches asks the companies not to close their business activities.

“We ask them not to close their companies, they can close their activities for a while, but after the situation returns to normal, they have to reopen their companies,” he said

Despite his pleas they are suggesting the company’s owners have decided to shut down their operations in Timor-Leste permanently.

“So currently a total of 20 companies have decided to shut down their companies, due to no revenue permanently. Almost half of these businesses decided to close their companies. These companies are from Australia, Indonesia, China, Malaysia and Europe.” Mr Sanches said.

It is noted, however, that SERVE has registered more than 1000 companies which are still invested in Timor-Leste.

Jornalista: Natalino Costa

Editora: Julia Chatarina/Nick Kettle

Translation: Nelia Borges


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