How to make the registration of property more efficient to entrepreneurs in Beirut Lebanon - Essay Example

Making Registration of Property More Efficient To Entrepreneurs in Beirut Lebanon Introduction There exists lengthy and complicated legal registration of property processes in Lebanon that makes the system inefficient and unreliable to entrepreneurs. Lebanese government should initiate fundamental strategies that would minimize the delays, legal procedures, and significantly lower fee for registration of property. The strategies inherently discussed would assist the Lebanese government in making property registration process more efficient and reliable.

Minimizing License Acquisition Process and Delays The process of acquiring a property license is imperative for the success of a business or an entrepreneur, who would wish to engage in legal activities. Currently, there exist lengthy procedures in obtaining license for property and businesses making registration process more difficult. The government of Lebanon can make registration process more effective and faster by minimizing the procedures involved in acquiring licenses for property. License acquisition is an imperative step in registration of property and if the government of Lebanon can minimize its process as aforementioned, it would have an efficient and reliable legal system.

Moreover, Lebanese government should eliminate the current tradition of delaying licensing of property amongst registration authorities. Eliminating the delays would directly result into reduction of the days needed for obtaining property license. Consequently, Lebanon property registration process would be more efficient and reliable. Lowering Registration Fees It is imperious to understand that high taxes levied on government legislation process directly contribute to its inefficiency. Lebanese government authorities that directly engage in property registration process including tax authority and land registry should significantly lower registration fees to increase efficiency of the processes.

Lowering property registration fees would also attract more entrepreneurs (World Bank Group 1). Regulating Corruption in Registry OfficesThe most amicable property registration process prides in free corruption and embezzlement of funds. Apparently, property registration process in Lebanon has remained inefficient and expensive to entrepreneurs due to constant corruption and mismanagement of funds buy Lebanese land registry and tax authority (Haidar 1). Lebanese government should establish fundamental strategies that would aim at eliminating corruption within the property registration system to make the process more accessible, efficient, and inexpensive.

Works CitedHaidar, Jamal Ibrahim. Business Regulations In Lebanon: Where Are We? Where Do We Go Now?. August 1, 2013. Web. November 22, 2014. Accessed from http://blogs.worldbank.org/arabvoices/business-regulations-lebanon-where-are-we-where-do-we-go-now World Bank Group. Doing Business: Registering Property in Lebanon. June 2014. Web. November 21, 2014. Accessed from http://www.doingbusiness.org/data/exploreeconomies/lebanon/registering-property/