The Government of the Republic of Nauru

During the 2020 to 2021 reporting period, the Registration and Licencing Division (R.LD.) have worked tirelessly to execute their objectives mandated under the Business Names Registration Act 2018 and the Business Licences Act 2017.

These laws have provided the legislative framework that cater for the nature of businesses in the Nauruan context supporting small and micro enterprises that contribute to and maintain a stable national economy of Nauru which at current stands at a gross domestic product (GDP) per capita at USD8867 in 2020.

The following data reflect the number of registrations, licensing and certification of  businesses, security firms and beneficial ownership that have been successfully processed out of 690 applications:

1. 342 businesses have successfully renewed their licences totaling AUD116,400 in revenue whilst 104 new business names have been registered with AUD32,400 revenue. These applications comprise 76% out of the total applications processed by R.L.D. equating to a revenue of AUD 398,800;
2. 19 security firms have renewed their licences and 13  have received licences after registration.  There is a total of 32 registered security firms, 4 being corporations and 28 owned by local proprietors.  This stand at 4% of the total applications received by the R.L.D. The relative revenue is AUD16,000;
3. 11 transfer of licences from former proprietors to new proprietors have been approved bringing in AUD4,400 while there have been 16 variations of licences issued totaling AUD4,800. Variations occur when amendments need to be made to the nature of business, proprietor details or business location;
4. there have been 44 late submissions of applications which has incurred late fees of up to AUD8,800;
5. 5 licences were cancelled while 2 have been ceased;
6. 19 beneficial ownerships are now registered;
7. 5 RPC licences have been issued equating AUD250,000; and
8. the total revenue for business licences is AUD398,800.

Our Team

Objectives 

1. Enforce the laws on business and corporation registration.
2. Monitor and track the registration of businesses and corporations and issue licences accordingly. 

Motivation

Without business, there is no economy.

Strategic Plan Priority Area 4: Cost Cutting Sectors

Econ-Goal 5

Promote development of small and micro enterprises, foreign investment and economic integration into the global economy.

Cross-Goal 1

Strengthen Parliament, audit, justice, law, order and border control.

Achievements

The work of the Registration and Licencing Division  has immensely contributed to the positive development of economic growth in Nauru by regulating the registration and licensing of businesses. Since its establishment, the nature of businesses reflected in the application forms have expanded and thus allowing 690 businesses to register and attain operational licences to conduct 49 different types of businesses with the inclusion of security firms.

The current reform in relation to business registration laws has succeeded in improving  the business environment by maintaining minimum costs of registration and licencing. This has encouraged an increased rate of business registration and licencing, guaranteeing full rights to the proprietors in ownership of their business names abd logos as trademarks.

In turn, the Section plays a crucial role in supporting the fight against poverty, fostering investment and job creation by supporting the private sector.

Business is known to be the engine of an economy, providing jobs that allow people to make money by selling goods and services that people can buy with the money that they make.

Business registration reform is one of the essential first steps toward the growth of the private sector which has certainly had optimal impact in aiding economic empowerment for the people of Nauru.

Way Forward

The Business Registration, Business Licensing, Security Licensing, Import Licensing and Beneficial Ownership Division will continue to enable legal protection for business owners by:

1. improving business regulations to  promote economic growth;
2. providing accessible processes to register businesses and issue licenses without discrimination or bias;
3. inspect and monitor business licenses so that businesses are authentically licensed; and
4. minimize payment of late submission fees for businesses by disseminating warning letters of impending expiration of business licenses.