Doing Business 2018 Antigua and Barbuda Economy Pro le of Antigua and Barbuda Doing Business 2018 Indicators (in order of appearance in the document) Starting a business Procedures, time, cost and paid-in minimum capital to start a limited liability company Dealing with construction Procedures, time and cost to complete all formalities to build a warehouse and the quality control and permits safety mechanisms in the construction permitting system Getting electricity Procedures, time and cost to get connected to the electrical grid, the reliability of the electricity supply and the transparency of tariffs Registering property Procedures, time and cost to transfer a property and the quality of the land administration system Getting credit Movable collateral laws and credit information systems Protecting minority investors Minority shareholders’ rights in related-party transactions and in corporate governance Paying taxes Payments, time and total tax rate for a firm to comply with all tax regulations as well as post-filing processes Trading across borders Time and cost to export the product of comparative advantage and import auto parts Enforcing contracts Time and cost to resolve a commercial dispute and the quality of judicial processes Resolving insolvency Time, cost, outcome and recovery rate for a commercial insolvency and the strength of the legal framework for insolvency Labor market regulation Flexibility in employment regulation and aspects of job quality About Doing Business The Doing Business project provides objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level. The Doing Business project, launched in 2002, looks at domestic small and medium-size companies and measures the regulations applying to them through their life cycle. Doing Business captures several important dimensions of the regulatory environment as it applies to local rms. It provides quantitative indicators on regulation for starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. Doing Business also measures features of labor market regulation. Although Doing Business does not present rankings of economies on the labor market regulation indicators or include the topic in the aggregate distance to frontier score or ranking on the ease of doing business, it does present the data for these indicators. By gathering and analyzing comprehensive quantitative data to compare business regulation environments across economies and over time, Doing Business encourages economies to compete towards more e cient regulation; o ers measurable benchmarks for reform; and serves as a resource for academics, journalists, private sector researchers and others interested in the business climate of each economy. In addition, Doing Business o ers detailed subnational reports, which exhaustively cover business regulation and reform in di erent cities and regions within a nation. These reports provide data on the ease of doing business, rank each location, and recommend reforms to improve performance in each of the indicator areas. Selected cities can compare their business regulations with other cities in the economy or region and with the 190 economies that Doing Business has ranked. The rst Doing Business report, published in 2003, covered 5 indicator sets and 133 economies. This year’s report covers 11 indicator sets and 190 economies. Most indicator sets refer to a case scenario in the largest business city of each economy, except for 11 economies that have a population of more than 100 million as of 2013 (Bangladesh, Brazil, China, India, Indonesia, Japan, Mexico, Nigeria, Pakistan, the Russian Federation and the United States) where Doing Business, also collected data for the second largest business city. The data for these 11 economies are a population-weighted average for the 2 largest business cities. The project has bene ted from feedback from governments, academics, practitioners and reviewers. The initial goal remains: to provide an objective basis for understanding and improving the regulatory environment for business around the world. Page 2   for insolvency Doing Business Labor market 2018 regulation Antigua andin Flexibility Barbuda employment regulation and aspects of job quality About Doing Business The Doing Business project provides objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level. The Doing Business project, launched in 2002, looks at domestic small and medium-size companies and measures the regulations applying to them through their life cycle. Doing Business captures several important dimensions of the regulatory environment as it applies to local rms. It provides quantitative indicators on regulation for starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. Doing Business also measures features of labor market regulation. Although Doing Business does not present rankings of economies on the labor market regulation indicators or include the topic in the aggregate distance to frontier score or ranking on the ease of doing business, it does present the data for these indicators. By gathering and analyzing comprehensive quantitative data to compare business regulation environments across economies and over time, Doing Business encourages economies to compete towards more e cient regulation; o ers measurable benchmarks for reform; and serves as a resource for academics, journalists, private sector researchers and others interested in the business climate of each economy. In addition, Doing Business o ers detailed subnational reports, which exhaustively cover business regulation and reform in di erent cities and regions within a nation. These reports provide data on the ease of doing business, rank each location, and recommend reforms to improve performance in each of the indicator areas. Selected cities can compare their business regulations with other cities in the economy or region and with the 190 economies that Doing Business has ranked. The rst Doing Business report, published in 2003, covered 5 indicator sets and 133 economies. This year’s report covers 11 indicator sets and 190 economies. Most indicator sets refer to a case scenario in the largest business city of each economy, except for 11 economies that have a population of more than 100 million as of 2013 (Bangladesh, Brazil, China, India, Indonesia, Japan, Mexico, Nigeria, Pakistan, the Russian Federation and the United States) where Doing Business, also collected data for the second largest business city. The data for these 11 economies are a population-weighted average for the 2 largest business cities. The project has bene ted from feedback from governments, academics, practitioners and reviewers. The initial goal remains: to provide an objective basis for understanding and improving the regulatory environment for business around the world. The distance to frontier (DTF) measure shows the distance of each economy to the “frontier,” which represents the best performance observed on each of the indicators across all economies in the Doing Business sample since 2005. An economy’s distance to frontier is re ected on a scale from 0 to 100, where 0 represents the lowest performance and 100 represents the frontier. The ease of doing business ranking ranges from 1 to 190. The ranking of 190 economies is determined by sorting the aggregate distance to frontier scores, rounded to two decimals. More about Doing Business (PDF, 5MB) Ease of Doing Business in Latin America & DB 2018 Rank Region 190 1 Caribbean Antigua and Barbuda Income Category High income 107 DB 2018 Distance to Frontier (DTF) Population 100,963 0 100 GNI Per Capita (US$) 13,400 59.63 City Covered St. John's DB 2018 Distance to Frontier (DTF) 0 100 67.27: Jamaica (Rank: 70) 60.96: Dominica (Rank: 98) 60.68: Trinidad and Tobago (Rank: 102) 59.63: Antigua and Barbuda (Rank: 107) 58.66: Regional Average (Latin America & Caribbean) Page 3   aggregate distance to frontier scores, rounded to two decimals. More Doingabout 2018 (PDF, Doing Business Business 5MB)and Barbuda Antigua Ease of Doing Business in Latin America & DB 2018 Rank Region 190 1 Caribbean Antigua and Barbuda Income Category High income 107 DB 2018 Distance to Frontier (DTF) Population 100,963 0 100 GNI Per Capita (US$) 13,400 59.63 City Covered St. John's DB 2018 Distance to Frontier (DTF) 0 100 67.27: Jamaica (Rank: 70) 60.96: Dominica (Rank: 98) 60.68: Trinidad and Tobago (Rank: 102) 59.63: Antigua and Barbuda (Rank: 107) 58.66: Regional Average (Latin America & Caribbean) 52.94: Grenada (Rank: 142) Note: The distance to frontier (DTF) measure shows the distance of each economy to the “frontier,” which represents the best performance observed on each of the indicators across all economies in the Doing Business sample since 2005. An economy’s distance to frontier is re ected on a scale from 0 to 100, where 0 represents the lowest performance and 100 represents the frontier. The ease of doing business ranking ranges from 1 to 190. Rankings on Doing Business topics - Antigua and Barbuda 1 28 33 39 55 82 96 Rank 99 101 109 118 126 128 136 144 159 163 190 Starting Dealing Getting Registering Getting Protecting Paying Trading Enforcing Resolving a with Electricity Property Credit Minority Taxes across Contracts Insolvency Business Construction Investors Borders Permits Distance to Frontier (DTF) on Doing Business topics - Antigua and Barbuda 100 81.69 83.50 80 67.09 68.73 68.11 56.61 58.69 60 DTF 51.67 40 35.26 25.00 20 0 Starting Dealing Getting Registering Getting Protecting Paying Trading Enforcing Resolving a with Electricity Property Credit Minority Taxes across Contracts Insolvency Business Construction Change:+0.01 Change:+9.10 Change:0.00 Investors Change:+0.58 Borders Change:0.00 Change:+0.14 Change:+0.03 Permits Change:0.00 Change:0.00 Change:+0.02 Starting a Business Page 4   a with Electricity Property Credit Minority Taxes across Contracts Insolvency Business Construction Change:+0.01 Change:+9.10 Change:0.00 Investors Change:+0.58 Borders Change:0.00 Change:+0.14 Change:+0.03 Permits Change:0.00 Change:0.00 Doing Business 2018 Antigua and Barbuda Change:+0.02 Starting a Business This topic measures the paid-in minimum capital requirement, number of procedures, time and cost for a small- to medium-sized limited liability company to start up and formally operate in economy’s largest business city. To make the data comparable across 190 economies, Doing Business uses a standardized business that is 100% domestically owned, has start-up capital equivalent to 10 times income per capita, engages in general industrial or commercial activities and employs between 10 and 50 people one month after the commencement of operations, all of whom are domestic nationals. Starting a Business considers two types of local limited liability companies that are identical in all aspects, except that one company is owned by 5 married women and the other by 5 married men. The distance to frontier score for each indicator is the average of the scores obtained for each of the component indicators. The most recent round of data collection for the project was completed in June 2017. See the methodology for more information. What the indicators measure Case study assumptions Procedures to legally start and operate a To make the data comparable across economies, several assumptions company (number) about the business and the procedures are used. It is assumed that any required information is readily available and that the entrepreneur will pay Pre-registration (for example, name verification no bribes. or reservation, notarization) Registration in economy’s largest business city The business: - Is a limited liability company (or its legal equivalent). If there is more than Post-registration (for example, social security one type of limited liability company in the economy, the most common registration, company seal) among domestic rms is chosen. Information on the most common form is Obtaining approval from spouse to start business obtained from incorporation lawyers or the statistical o ce. or leave home to register company - Operates in the economy’s largest business city and the entire o ce Obtaining any gender-specific permission that space is approximately 929 square meters (10,000 square feet). For 11 can impact company registration, company economies the data are also collected for the second largest business city. operations and process of getting national - Is 100% domestically owned and has ve owners, none of whom is a legal identity card entity; and has a start-up capital of 10 times income per capita and has a Time required to complete each procedure turnover of at least 100 times income per capita. (calendar days) - Performs general industrial or commercial activities, such as the production or sale of goods or services to the public. The business does Does not include time spent gathering not perform foreign trade activities and does not handle products subject information to a special tax regime, for example, liquor or tobacco. It does not use Each procedure starts on a separate day (2 heavily polluting production processes. procedures cannot start on the same day) - Leases the commercial plant or o ces and is not a proprietor of real Procedures fully completed online are recorded estate and the amount of the annual lease for the o ce space is equivalent as ½ day to 1 times income per capita. Procedure is considered completed once final - Does not qualify for investment incentives or any special bene ts. document is received - Has at least 10 and up to 50 employees one month after the commencement of operations, all of whom are domestic nationals. No prior contact with officials - Has a company deed 10 pages long. Cost required to complete each procedure (% of The owners: income per capita) - Have reached the legal age of majority. If there is no legal age of majority, Official costs only, no bribes they are assumed to be 30 years old. No professional fees unless services required by - Are sane, competent, in good health and have no criminal record. law or commonly used in practice - Are married and the marriage is monogamous and registered with the authorities. Paid-in minimum capital (% of income per capita) - Where the answer di ers according to the legal system applicable to the Funds deposited in a bank or with third party woman or man in question (as may be the case in economies where there before registration or up to 3 months after is legal plurality), the answer used will be the one that applies to the incorporation majority of the population. Standardized Company Page 5   before registration or up to 3 months after is legal plurality), the answer used will be the one that applies to the incorporation majority of the population. Doing Business 2018 Antigua and Barbuda Standardized Company Legal form Private Limited Liability Company Paid-in minimum capital requirement XCD 0 City Covered St. John's Antigua and Latin America & OECD high Indicator Barbuda Caribbean income Overall Best Performer Procedure – Men (number) 9 8.4 4.9 1.00 (New Zealand) Time – Men (days) 22 31.7 8.5 0.50 (New Zealand) Cost – Men (% of income per capita) 9.1 37.5 3.1 0.00 (United Kingdom) Procedure – Women (number) 9 8.5 4.9 1.00 (New Zealand) Time – Women (days) 22 31.8 8.5 0.50 (New Zealand) Cost – Women (% of income per capita) 9.1 37.5 3.1 0.00 (United Kingdom) Paid-in min. capital (% of income per capita) 0.0 2.1 8.7 0.00 (113 Economies) Figure – Starting a Business in Antigua and Barbuda and comparator economies – Ranking and DTF DB 2018 Distance to Frontier (DTF) 0 100 97.30: Jamaica (Rank: 5) 89.29: Dominica (Rank: 67) 88.57: Trinidad and Tobago (Rank: 71) 87.09: Grenada (Rank: 82) 81.69: Antigua and Barbuda (Rank: 126) 78.09: Regional Average (Latin America & Caribbean) Note: The ranking of economies on the ease of starting a business is determined by sorting their distance to frontier scores for starting a business. These scores are the simple average of the distance to frontier scores for each of the component indicators. Figure – Starting a Business in Antigua and Barbuda – Procedure, Time and Cost Time Cost 9 20 8 ost (% of income per capita) 7 15 6 Time (days) 5 10 4 3 Page 6   5 2 starting a business. These scores are the simple average of the distance to frontier scores for each of the component indicators. Doing Business 2018 Antigua and Barbuda Figure – Starting a Business in Antigua and Barbuda – Procedure, Time and Cost Time Cost 9 20 8 Cost (% of income per capita) 7 15 6 Time (days) 5 10 4 3 5 2 1 0 0 1 2 3 4 *5 *6 7 8 9 Procedures (number) * This symbol is shown beside procedure numbers that take place simultaneously with the previous procedure. Note: Online procedures account for 0.5 days in the total time calculation. For economies that have a di erent procedure list for men and women, the graph shows the time for women. For more information on methodology, see the Doing Business website (http://www.doingbusiness.org/methodology). For details on the procedures re ected here, see the summary below. Details – Starting a Business in Antigua and Barbuda – Procedure, Time and Cost No. Procedure Time to Complete Associated Costs 1 Search and reserve company name 3 days EC 25 Agency : Intellectual Property & Commerce O ce (IPCO) The company name search is performed manually by going through large registration books. Upon assurance that no other company goes by the proposed name, a form is submitted to reserve the name for three months. 2 Retain a lawyer to prepare the incorporation documents 1 day included in Agency : Lawyer procedure 3 The minimal cost of EC 150 is charged by a lawyer or justice of the peace to prepare a declaration attesting that the company owner is not bankrupt, is mentally sound, and is over 18 years of age. This is the only document that requires an attorney’s intervention by law. However, the general practice is that an attorney will prepare all incorporation documents: notice of address, notice of directors, and articles of incorporation. In this case, the average attorney fee averages EC 3,000. All the necessary documents are forms from the Company Act and are completed by lling in blanks. The cost of this procedure is incorporated into Procedure 3, as typically the notary will le the prepared documents with IPCO on behalf of the company. 3 Register with the Intellectual Property and Commerce O ce and receive 10 days EC 3230 the Certi cate of Incorporation Agency : Intellectual Property & Commerce O ce (IPCO) The registration fee with IPCO is EC 200, plus the statutory declaration (stamp fee) of EC 30. Attorney fees average around EC 3000 for preparing all the documents to be led with IPCO. Page 7   (http://www.doingbusiness.org/methodology). For details on the procedures re ected here, see the summary below. Doing Business 2018 Antigua and Barbuda Details – Starting a Business in Antigua and Barbuda – Procedure, Time and Cost No. Procedure Time to Complete Associated Costs 1 Search and reserve company name 3 days EC 25 Agency : Intellectual Property & Commerce O ce (IPCO) The company name search is performed manually by going through large registration books. Upon assurance that no other company goes by the proposed name, a form is submitted to reserve the name for three months. 2 Retain a lawyer to prepare the incorporation documents 1 day included in Agency : Lawyer procedure 3 The minimal cost of EC 150 is charged by a lawyer or justice of the peace to prepare a declaration attesting that the company owner is not bankrupt, is mentally sound, and is over 18 years of age. This is the only document that requires an attorney’s intervention by law. However, the general practice is that an attorney will prepare all incorporation documents: notice of address, notice of directors, and articles of incorporation. In this case, the average attorney fee averages EC 3,000. All the necessary documents are forms from the Company Act and are completed by lling in blanks. The cost of this procedure is incorporated into Procedure 3, as typically the notary will le the prepared documents with IPCO on behalf of the company. 3 Register with the Intellectual Property and Commerce O ce and receive 10 days EC 3230 the Certi cate of Incorporation Agency : Intellectual Property & Commerce O ce (IPCO) The registration fee with IPCO is EC 200, plus the statutory declaration (stamp fee) of EC 30. Attorney fees average around EC 3000 for preparing all the documents to be led with IPCO. 4 Make a company seal 5 days EC 200 Agency : Various O ce Supply Businesses Company seals are not required by the Company Act but are in practice required for everyday company transactions. The cost will depend on the quality of the seal. 5 Apply for a taxpayer identi cation number (register the company for 3 days no charge taxes) (simultaneous with Agency : Inland Revenue Department previous procedure) The taxpayer identi cation registration is done at the Inland Revenue Authority. Application for Registration is done after the company has been incorporated and there is a Certi cate of Incorporation. The registration form is available on the Government website and can be printed but cannot be registered online. 6 Register for VAT and obtain an ABST identi cation number 1 day no charge Agency : Inland Revenue Department (simultaneous with previous The company can register for VAT at the Inland Revenue Authority. The procedure) Registration Form is available on the Government website and can be printed but cannot be registered online. Registration is done only after the company has been incorporated and there is a Certi cate of Incorporation. Pursuant to the Antigua & Barbuda Sales Tax Act 2006, the company must register for VAT if its revenues exceed EC 300,000 annually. Page 8   form is available on the Government website and can be printed but cannot Doing be registered Business online. Antigua and Barbuda 2018 6 Register for VAT and obtain an ABST identi cation number 1 day no charge Agency : Inland Revenue Department (simultaneous with previous The company can register for VAT at the Inland Revenue Authority. The procedure) Registration Form is available on the Government website and can be printed but cannot be registered online. Registration is done only after the company has been incorporated and there is a Certi cate of Incorporation. Pursuant to the Antigua & Barbuda Sales Tax Act 2006, the company must register for VAT if its revenues exceed EC 300,000 annually. 7 Register for medical bene ts 1 day no charge Agency : Medical Bene t Scheme Both the employer's and the employee's monthly contribution to medical bene t are the same at 3.5% of the employee's basic monthly wage. There is no maximum contribution. 8 Register for social security 1 day no charge Agency : Social Security Scheme The company registers with Social Security rst and once a registration number is received this is taken to the Board of Education in order to register there. 9 Register for education levy 1 day no charge Agency : Board of Education The education levy is only payable by the employee but the employer is required to deduct the education levy from the employee's wages and submit to the Inland Revenue Department on the prescribed form monthly. The employer's contribution to social security is 6% of the employees' basic monthly wage up to a maximum of EC 390 per month. The employee's contribution is 4% up to a maximum of EC 260. Applies to women only. Takes place simultaneously with previous procedure. Dealing with Construction Permits This topic tracks the procedures, time and cost to build a warehouse—including obtaining necessary the licenses and permits, submitting all required noti cations, requesting and receiving all necessary inspections and obtaining utility connections. In addition, the Dealing with Construction Permits indicator measures the building quality control index, evaluating the quality of building regulations, the strength of quality control and safety mechanisms, liability and insurance regimes, and professional certi cation requirements. The most recent round of data collection was completed in June 2017. See the methodology for more information What the indicators measure Case study assumptions Procedures to legally build a warehouse (number) To make the data comparable across economies, several assumptions about the construction company, the warehouse project and the utility Submitting all relevant documents and obtaining connections are used. all necessary clearances, licenses, permits and certificates The construction company (BuildCo): Submitting all required notifications and - Is a limited liability company (or its legal equivalent) and operates in the receiving all necessary inspections economy’s largest business city. For 11 economies the data are also collected for the second largest business city. Obtaining utility connections for water and - Is 100% domestically and privately owned; has ve owners, none of whom sewerage Page 9   is a legal entity. Has a licensed architect and a licensed engineer, both Applies to women only. Takes place simultaneously with previous procedure. Doing Business 2018 Antigua and Barbuda Dealing with Construction Permits This topic tracks the procedures, time and cost to build a warehouse—including obtaining necessary the licenses and permits, submitting all required noti cations, requesting and receiving all necessary inspections and obtaining utility connections. In addition, the Dealing with Construction Permits indicator measures the building quality control index, evaluating the quality of building regulations, the strength of quality control and safety mechanisms, liability and insurance regimes, and professional certi cation requirements. The most recent round of data collection was completed in June 2017. See the methodology for more information What the indicators measure Case study assumptions Procedures to legally build a warehouse (number) To make the data comparable across economies, several assumptions about the construction company, the warehouse project and the utility Submitting all relevant documents and obtaining connections are used. all necessary clearances, licenses, permits and certificates The construction company (BuildCo): Submitting all required notifications and - Is a limited liability company (or its legal equivalent) and operates in the receiving all necessary inspections economy’s largest business city. For 11 economies the data are also collected for the second largest business city. Obtaining utility connections for water and - Is 100% domestically and privately owned; has ve owners, none of whom sewerage is a legal entity. Has a licensed architect and a licensed engineer, both Registering and selling the warehouse after its registered with the local association of architects or engineers. BuildCo is completion not assumed to have any other employees who are technical or licensed Time required to complete each procedure experts, such as geological or topographical experts. (calendar days) - Owns the land on which the warehouse will be built and will sell the warehouse upon its completion. Does not include time spent gathering information The warehouse: Each procedure starts on a separate day— - Will be used for general storage activities, such as storage of books or though procedures that can be fully completed stationery. online are an exception to this rule - Will have two stories, both above ground, with a total constructed area of Procedure is considered completed once final approximately 1,300.6 square meters (14,000 square feet). Each oor will document is received be 3 meters (9 feet, 10 inches) high and will be located on a land plot of No prior contact with officials approximately 929 square meters (10,000 square feet) that is 100% owned by BuildCo, and the warehouse is valued at 50 times income per capita. Cost required to complete each procedure (% of - Will have complete architectural and technical plans prepared by a warehouse value) licensed architect. If preparation of the plans requires such steps as Official costs only, no bribes obtaining further documentation or getting prior approvals from external Building quality control index (0-15) agencies, these are counted as procedures. - Will take 30 weeks to construct (excluding all delays due to administrative Sum of the scores of six component indices: and regulatory requirements). Quality of building regulations (0-2) The water and sewerage connections: Quality control before construction (0-1) - Will be 150 meters (492 feet) from the existing water source and sewer Quality control during construction (0-3) tap. If there is no water delivery infrastructure in the economy, a borehole Quality control after construction (0-3) will be dug. If there is no sewerage infrastructure, a septic tank in the smallest size available will be installed or built. Liability and insurance regimes (0-2) - Will have an average water use of 662 liters (175 gallons) a day and an Professional certifications (0-4) average wastewater ow of 568 liters (150 gallons) a day. Will have a peak water use of 1,325 liters (350 gallons) a day and a peak wastewater ow of 1,136 liters (300 gallons) a day. - Will have a constant level of water demand and wastewater ow throughout the year; will be 1 inch in diameter for the water connection and 4 inches in diameter for the sewerage connection. Standardized Warehouse Page 10   and 4 inches in diameter for the sewerage connection. Doing Business 2018 Antigua and Barbuda Standardized Warehouse Estimated value of warehouse XCD 1,889,168.20 City Covered St. John's Antigua and Latin America & OECD high Indicator Barbuda Caribbean income Overall Best Performer Procedures (number) 19 15.7 12.5 7.00 (Denmark) Time (days) 135 191.8 154.6 27.5 (Korea, Rep.) Cost (% of warehouse value) 0.8 3.2 1.6 0.10 (5 Economies) Building quality control index (0-15) 9.0 8.8 11.4 15.00 (3 Economies) Figure – Dealing with Construction Permits in Antigua and Barbuda and comparator economies – Ranking and DTF DB 2018 Distance to Frontier (DTF) 0 100 70.07: Dominica (Rank: 74) 67.22: Jamaica (Rank: 98) 67.09: Antigua and Barbuda (Rank: 99) 64.19: Trinidad and Tobago (Rank: 119) 63.59: Regional Average (Latin America & Caribbean) 62.22: Grenada (Rank: 128) Note: The ranking of economies on the ease of dealing with construction permits is determined by sorting their distance to frontier scores for dealing with construction permits. These scores are the simple average of the distance to frontier scores for each of the component indicators. Figure – Dealing with Construction Permits in Antigua and Barbuda – Procedure, Time and Cost Time Cost 0.45 120 0.4 Cost (% of warehouse value) 0.35 100 0.3 Time (days) 80 0.25 60 0.2 0.15 40 0.1 20 0.05 0 0 1 *2 3 4 5 6 *7 8 9 10 11 12 13 14 15 16 17 18 19 Procedures (number) * This symbol is shown beside procedure numbers that take place simultaneously with the previous procedure. Page 11   component indicators. Doing Business 2018 Antigua and Barbuda Figure – Dealing with Construction Permits in Antigua and Barbuda – Procedure, Time and Cost Time Cost 0.45 120 0.4 Cost (% of warehouse value) 0.35 100 0.3 Time (days) 80 0.25 60 0.2 0.15 40 0.1 20 0.05 0 0 1 *2 3 4 5 6 *7 8 9 10 11 12 13 14 15 16 17 18 19 Procedures (number) * This symbol is shown beside procedure numbers that take place simultaneously with the previous procedure. Note: Online procedures account for 0.5 days in the total time calculation. For economies that have a di erent procedure list for men and women, the graph shows the time for women. For more information on methodology, see the Doing Business website (http://www.doingbusiness.org/methodology). For details on the procedures re ected here, see the summary below. Figure – Dealing with Construction Permits in Antigua and Barbuda and comparator economies – Measure of Quality 12 10.0 10.0 10 9.0 8.8 8.0 8 Index score 6 5.0 4 2 0 Antigua and Barbuda Dominica Grenada Jamaica Trinidad and Tobago Latin America & Caribbean Details – Dealing with Construction Permits in Antigua and Barbuda – Procedure, Time and Cost No. Procedure Time to Complete Associated Costs 1 Request and obtain results of geo-technical study 25 days XCD 8,000 Agency : Private engineering rm According to Article 26 of the Antigua and Barbuda Development Land development CAP 235, a soil test should be conducted for the strength of the building. The foundation must be designed in such a way as to sustain and transmit to the ground the combined dead load of the building. The proper depth should be reach to prevent the building from sinking. 2 Obtain location plan 2 days XCD 38 Agency : Survey Department The location plan is generally obtained from cadastral sheets or DOS Page 12   Antigua and Barbuda Dominica Grenada Jamaica Trinidad and Tobago Latin America & Caribbean Doing Business 2018 Antigua and Barbuda Details – Dealing with Construction Permits in Antigua and Barbuda – Procedure, Time and Cost No. Procedure Time to Complete Associated Costs 1 Request and obtain results of geo-technical study 25 days XCD 8,000 Agency : Private engineering rm According to Article 26 of the Antigua and Barbuda Development Land development CAP 235, a soil test should be conducted for the strength of the building. The foundation must be designed in such a way as to sustain and transmit to the ground the combined dead load of the building. The proper depth should be reach to prevent the building from sinking. 2 Obtain location plan 2 days XCD 38 Agency : Survey Department The location plan is generally obtained from cadastral sheets or DOS maps.This helps indicating the location of the warehouse to be built. 3 Obtain "approval in principle" 21 days XCD 30 Agency : Development Control Authority The approval in principle is the veri cation that the project is in compliance with the urban regulations and that it can be done on that speci c plot of land. The location plan is needed for initiate this procedure. 4 Obtain project clearance from Fire Department 14 days no charge Agency : Fire Department To obtain the project clearance from the Fire department, the approval in principle as well as the location plan are required. 5 Receive noti cation of fee charge and pay appropriate fees to the 2 days XCD 7,035 Treasury Agency : Treasury The applicant submits all the relevant documents, including the project clearance from the Fire department to the Development Control Authority. The applicant will be informed of the fees to be paid at the treasury. The proof of payment must be submitted to the Development Control Authority for inspection purposes. The fee schedule for the Development Control Authority is as follows: • 0 --500 sq. ft. (gross oor area): XCD 50 • 500 -- 1,000 sq. ft. (gross oor area): XCD 200 • Over 1,000 sq. ft. (gross oor area): XCD 0.50 (per sq. ft.) 6 Obtain planning permission from Development Control Authority 35 days no charge Agency : Development Control Authority To obtain planning permission, the architect must submit to the Development Control Authority a three-page application (with three copies) that includes building designs, a location plan, a site plan, clearance from the re department, a proof of ownership and the receipt of payment to the Treasury department. This procedure also includes approval of sewage services (Septic Tank). There is no sewage system therefore a septic tank is used which is installed by the builder. 7 Submit and obtain preliminary proposal to the department for review 14 days no charge Agency : Environment Division Page 13   The constructor submits a preliminary proposal on the feasibility of the services (Septic Tank). There is no sewage system therefore a septic tank is Doing used which is Business installed 2018 by the builder. Antigua and Barbuda 7 Submit and obtain preliminary proposal to the department for review 14 days no charge Agency : Environment Division The constructor submits a preliminary proposal on the feasibility of the project to the Environmental Division. This is done in order to obtain the clearance that the proposed development can happen on this plot of land. 8 Notify the Development Control Authority of commencement of work 1 day no charge Agency : Development Control Authority 9 Receive a set-out inspection 1 day no charge Agency : Development Control Authority When the Department Control Authority issues the building permit it also gives a commencement certi cate, which speci es the number of inspections to be carried out. The building company has to notify the Development Control Authority 48 hours before the start of each phase, so that the DCA can come and inspect the construction. However, in practice, this happens rarely, most construction companies do not notify about the commencement of each phase as there is no legal repercussions for not complying with the regulation. There is no ne for not notifying the DCA. The inspection process is regulated by the Land Development and Control Regulations of 1996. 10 Receive inspection after completion of foundation works before 1 day no charge concrete lling Agency : Development Control Authority (DCA) When the Department Control Authority issues the building permit it also gives a commencement certi cate, which speci es the number of inspections to be carried out. The building company has to notify the Development Control Authority 48 hours before the start of each phase so that the DCA can come and inspect the construction. However, in practice, this happens rarely, most construction companies do not notify about the commencement of each phase as there is no legal repercussions for not complying with the regulation. There is no ne for not notifying the DCA. 11 Receive inspection after completion of oor slab 1 day no charge Agency : Development Control Authority When the Department Control Authority issues the building permit it also gives a commencement certi cate, which speci es the number of inspections to be carried out. The building company has to notify the Development Control Authority 48 hours before the start of each phase, so that the DCA can come and inspect the construction. However, in practice, this happens rarely, most construction companies do not notify about the commencement of each phase as there is no legal repercussions for not complying with the regulation. There is no ne for not notifying the DCA. The inspection process is regulated by the Land Development and Control Regulations of 1996. 12 Receive inspection after completion of structural frame and roof 1 day no charge Agency : Development Control Authority When the Department Control Authority issues the building permit it also gives a commencement certi cate, which speci es the number of inspections to be carried out. The building company has to notify the Page 14   Development Control Authority 48 hours before the start of each phase, so The inspection process is regulated by the Land Development and Control Business of Doing Regulations 1996. Antigua and Barbuda 2018 12 Receive inspection after completion of structural frame and roof 1 day no charge Agency : Development Control Authority When the Department Control Authority issues the building permit it also gives a commencement certi cate, which speci es the number of inspections to be carried out. The building company has to notify the Development Control Authority 48 hours before the start of each phase, so that the DCA can come and inspect the construction. However, in practice, this happens rarely, most construction companies do not notify about the commencement of each phase as there is no legal repercussions for not complying with the regulation. There is no ne for not notifying the DCA. The inspection process is regulated by the Land Development and Control Regulations of 1996. 13 Receive inspection after completion of plumbing and drain works 1 day no charge Agency : Development Control Authority When the Department Control Authority issues the building permit it also gives a commencement certi cate, which speci es the number of inspections to be carried out. The building company has to notify the Development Control Authority 48 hours before the start of each phase, so that the DCA can come and inspect the construction. However, in practice, this happens rarely, most construction companies do not notify about the commencement of each phase as there is no legal repercussions for not complying with the regulation. There is no ne for not notifying the DCA. The inspection process is regulated by the Land Development and Control Regulations of 1996. 14 Notify the Development Control Authority of completion of work 1 day no charge Agency : Development Control Authority According to Article 63 of The Physical Planning Act, 2003. No. 6 of 2003, upon completion of the work, the contractor must also notify the Town and Country Planner, in writing that construction works are now completed. This will trigger a nal inspection to certify that theworks have been constructed in accordance with the development permit and building regulations. 15 Receive nal inspection 1 day no charge Agency : Development Control Authority The Development Control Authority checks that the building is in conformity with the issued development permit. 16 Receive stamp by the Development Control Authority on the water 1 day no charge application Agency : Development Control Authority Three application forms for water connection must be stamped by the Development Control Authority stamp before the owner can actually apply for it. 17 Apply for water connection 1 day no charge Agency : Antigua Public Utilities Authority (APUA) Three application forms for water must be stamped by Development Control Authority stamp before the owner can apply for water connection. The applicant must provide the following document when applying for water connection: Page 15   • 3 copies of the application form duly stamped by the DCA Development Control Authority stamp before the owner can actually apply Doing for it. Business 2018 Antigua and Barbuda 17 Apply for water connection 1 day no charge Agency : Antigua Public Utilities Authority (APUA) Three application forms for water must be stamped by Development Control Authority stamp before the owner can apply for water connection. The applicant must provide the following document when applying for water connection: • 3 copies of the application form duly stamped by the DCA • A photo ID of the applicant • A road map of the area leading to the property, showing important land marks • Block and parcel number of the property to be serviced • A brief description of the building including color and material of construction • A completed Consumer Data Form 18 Obtain inspection by APUA for cost assessment for water connection 7 days no charge Agency : Antigua Public Utilities Authority (APUA) Once the application for water connection has been processed, a team will conduct an on-site inspection to assess the connection cost. 19 Obtain water connection 21 days XCD 850 Agency : Antigua Public Utilities Authority (APUA) According to the Antigua Public Utilities Authority (APUA), the installation fee for a distance of 150 meters with a 1” water pipe is XCD 850. Takes place simultaneously with previous procedure. Details – Dealing with Construction Permits in Antigua and Barbuda – Measure of Quality Answer Score Building quality control index (0-15) 9.0 Quality of building regulations index (0-2) 2.0 How accessible are building laws and regulations in your economy? (0-1) Available online; 1.0 Free of charge. Which requirements for obtaining a building permit are clearly speci ed in the building List of required 1.0 regulations or on any accessible website, brochure or pamphlet? (0-1) documents; Fees to be paid; Required preapprovals. Quality control before construction index (0-1) 0.0 Which third-party entities are required by law to verify that the building plans are in By law, there is 0.0 compliance with existing building regulations? (0-1) no need to verify plans compliance; Civil servant reviews plans. Quality control during construction index (0-3) 1.0 Page 16   Takes place simultaneously with previous procedure. Doing Business 2018 Antigua and Barbuda Details – Dealing with Construction Permits in Antigua and Barbuda – Measure of Quality Answer Score Building quality control index (0-15) 9.0 Quality of building regulations index (0-2) 2.0 How accessible are building laws and regulations in your economy? (0-1) Available online; 1.0 Free of charge. Which requirements for obtaining a building permit are clearly speci ed in the building List of required 1.0 regulations or on any accessible website, brochure or pamphlet? (0-1) documents; Fees to be paid; Required preapprovals. Quality control before construction index (0-1) 0.0 Which third-party entities are required by law to verify that the building plans are in By law, there is 0.0 compliance with existing building regulations? (0-1) no need to verify plans compliance; Civil servant reviews plans. Quality control during construction index (0-3) 1.0 What types of inspections (if any) are required by law to be carried out during Inspections at 1.0 construction? (0-2) various phases. Do legally mandated inspections occur in practice during construction? (0-1) Mandatory 0.0 inspections are not always done in practice during construction. Quality control after construction index (0-3) 2.0 Is there a nal inspection required by law to verify that the building was built in Yes, nal 2.0 accordance with the approved plans and regulations? (0-2) inspection is done by government agency. Do legally mandated nal inspections occur in practice? (0-1) Final inspection 0.0 does not always occur in practice. Liability and insurance regimes index (0-2) 0.0 Which parties (if any) are held liable by law for structural aws or problems in the No party is held 0.0 building once it is in use (Latent Defect Liability or Decennial Liability)? (0-1) liable under the law. Which parties (if any) are required by law to obtain an insurance policy to cover No party is 0.0 possible structural aws or problems in the building once it is in use (Latent Defect required by law Liability Insurance or Decennial Insurance)? (0-1) to obtain Page 17   insurance . building once it is in use (Latent Defect Liability or Decennial Liability)? (0-1) liable under the Doing Business 2018 Antigua and Barbuda law. Which parties (if any) are required by law to obtain an insurance policy to cover No party is 0.0 possible structural aws or problems in the building once it is in use (Latent Defect required by law Liability Insurance or Decennial Insurance)? (0-1) to obtain insurance . Professional certi cations index (0-4) 4.0 What are the quali cation requirements for the professional responsible for verifying Minimum 2.0 that the architectural plans or drawings are in compliance with existing building number of years regulations? (0-2) of experience; University degree in architecture or engineering; Being a registered architect or engineer. What are the quali cation requirements for the professional who supervises the Minimum 2.0 construction on the ground? (0-2) number of years of experience; University degree in engineering, construction or construction management; Being a registered architect or engineer. Getting Electricity This topic measures the procedures, time and cost required for a business to obtain a permanent electricity connection for a newly constructed warehouse. Additionally, the reliability of supply and transparency of tari s index measures reliability of supply, transparency of tari s and the price of electricity. The most recent round of data collection for the project was completed in June 2017. See the methodology for more information. What the indicators measure Case study assumptions Procedures to obtain an electricity connection To make the data comparable across economies, several assumptions are (number) used. Submitting all relevant documents and obtaining The warehouse: all necessary clearances and permits - Is owned by a local entrepreneur and is used for storage of goods. Completing all required notifications and - Is located in the economy’s largest business city. For 11 economies the receiving all necessary inspections data are also collected for the second largest business city. Obtaining external installation works and possibly - Is located in an area where similar warehouses are typically located and is purchasing material for these works in an area with no physical constraints. For example, the property is not Concluding any necessary supply contract and near a railway. obtaining final supply - Is a new construction and is being connected to electricity for the rst time. Time required to complete each procedure - Has two stories with a total surface area of approximately 1,300.6 square (calendar days) is 929 meters (14,000 square feet). The plot of land on which it is builtPage 18   Is at least 1 calendar day square meters (10,000 square feet). architect or engineer. Doing Business 2018 Antigua and Barbuda Getting Electricity This topic measures the procedures, time and cost required for a business to obtain a permanent electricity connection for a newly constructed warehouse. Additionally, the reliability of supply and transparency of tari s index measures reliability of supply, transparency of tari s and the price of electricity. The most recent round of data collection for the project was completed in June 2017. See the methodology for more information. What the indicators measure Case study assumptions Procedures to obtain an electricity connection To make the data comparable across economies, several assumptions are (number) used. Submitting all relevant documents and obtaining The warehouse: all necessary clearances and permits - Is owned by a local entrepreneur and is used for storage of goods. Completing all required notifications and - Is located in the economy’s largest business city. For 11 economies the receiving all necessary inspections data are also collected for the second largest business city. Obtaining external installation works and possibly - Is located in an area where similar warehouses are typically located and is purchasing material for these works in an area with no physical constraints. For example, the property is not Concluding any necessary supply contract and near a railway. obtaining final supply - Is a new construction and is being connected to electricity for the rst time. Time required to complete each procedure - Has two stories with a total surface area of approximately 1,300.6 square (calendar days) meters (14,000 square feet). The plot of land on which it is built is 929 Is at least 1 calendar day square meters (10,000 square feet). Each procedure starts on a separate day Does not include time spent gathering The electricity connection: information - Is a permanent one with a three-phase, four-wire Y connection with a subscribed capacity of 140-kilo-volt-ampere (kVA) with a power factor of 1, Reflects the time spent in practice, with little when 1 kVA = 1 kilowatt (kW). follow-up and no prior contact with officials - Has a length of 150 meters. The connection is to either the low- or Cost required to complete each procedure (% of medium-voltage distribution network and is either overhead or income per capita) underground, whichever is more common in the area where the warehouse is located and requires works that involve the crossing of a 10- Official costs only, no bribes meter road (such as by excavation or overhead lines) but are all carried out Value added tax excluded on public land. There is no crossing of other owners’ private property The reliability of supply and transparency of because the warehouse has access to a road. tari s index (0-8) - Does not require work to install the internal wiring of the warehouse. This has already been completed up to and including the customer’s service Duration and frequency of power outages (0–3) panel or switchboard and the meter base. Tools to monitor power outages (0–1) Tools to restore power supply (0–1) The monthly consumption: Regulatory monitoring of utilities’ performance - It is assumed that the warehouse operates 30 days a month from 9:00 (0–1) a.m. to 5:00 p.m. (8 hours a day), with equipment utilized at 80% of capacity Financial deterrents limiting outages (0–1) on average and that there are no electricity cuts (assumed for simplicity reasons) and the monthly energy consumption is 26,880 kilowatt-hours Transparency and accessibility of tariffs (0–1) (kWh); hourly consumption is 112 kWh. Price of electricity (cents per kilowatt-hour)* - If multiple electricity suppliers exist, the warehouse is served by the Price based on monthly bill for commercial cheapest supplier. warehouse in case study - Tari s e ective in March of the current year are used for calculation of the price of electricity for the warehouse. Although March has 31 days, for * N o t e : Doing Business m e a s u r e s t h e p r i c e o f calculation purposes only 30 days are used. electricity, but it is not included in the distance to frontier score nor the ranking on the ease of getting electricity. Page 19   Standardized Connection frontier score nor the ranking on the ease of getting electricity. Doing Business 2018 Antigua and Barbuda Standardized Connection Price of electricity (US cents per kWh) 43.2 Name of utility Antigua Public Utilities Authority City Covered St. John's Antigua and Latin America & OECD high Indicator Barbuda Caribbean income Overall Best Performer Procedures (number) 4 5.5 4.7 2 (United Arab Emirates) Time (days) 42 66.0 79.1 10 (United Arab Emirates) Cost (% of income per capita) 114.9 927.4 63.0 0.00 (Japan) Reliability of supply and transparency of tariff 5 4.2 7.4 8.00 (28 Economies) index (0-8) Figure – Getting Electricity in Antigua and Barbuda and comparator economies – Ranking and DTF DB 2018 Distance to Frontier (DTF) 0 100 84.25: Trinidad and Tobago (Rank: 33) 83.50: Antigua and Barbuda (Rank: 39) 82.43: Dominica (Rank: 46) 76.41: Grenada (Rank: 73) 71.11: Jamaica (Rank: 91) 70.45: Regional Average (Latin America & Caribbean) Note: The ranking of economies on the ease of getting electricity is determined by sorting their distance to frontier scores for getting electricity. These scores are the simple average of the distance to frontier scores for each of the component indicators. Figure – Getting Electricity in Antigua and Barbuda – Procedure, Time and Cost Time Cost 140 40 120 35 Cost (% of income per capita) 30 100 Time (days) 25 80 20 60 15 40 10 5 Page 20   20 getting electricity. These scores are the simple average of the distance to frontier scores for each of the component indicators. Doing Business 2018 Antigua and Barbuda Figure – Getting Electricity in Antigua and Barbuda – Procedure, Time and Cost Time Cost 140 40 120 35 Cost (% of income per capita) 30 100 Time (days) 25 80 20 60 15 40 10 20 5 0 0 1 2 3 4 Procedures (number) * This symbol is shown beside procedure numbers that take place simultaneously with the previous procedure. Note: Online procedures account for 0.5 days in the total time calculation. For economies that have a di erent procedure list for men and women, the graph shows the time for women. For more information on methodology, see the Doing Business website (http://www.doingbusiness.org/methodology). For details on the procedures re ected here, see the summary below. Figure – Getting Electricity in Antigua and Barbuda and comparator economies – Measure of Quality 8 7 7 7 6 6 5 Index score 5 4.2 4 4 3 2 1 0 Antigua and Barbuda Dominica Grenada Jamaica Trinidad and Tobago Latin America & Caribbean Details – Getting Electricity in Antigua and Barbuda – Procedure, Time and Cost No. Procedure Time to Complete Associated Costs 1 Get application form stamped by Development Control Authority 7 calendar days XCD 200 Agency : Development Control Authority Prior to applying for a new electricity connection, the customer must rst have the application form stamped by the Development Control Authority, certifying that a building permit was issued for this building. All applications for new service are to be lled out in quadruplets. Once the application forms have been stamped, they can then be brought to Antigua Public Utilities Authority (APUA). DCA typically takes a week to process the application. 2 Submit application to APUA and await site inspection 7 calendar days XCD 0 Page 21   Agency : Antigua Public Utilities Authority Antigua and Barbuda Dominica Grenada Jamaica Trinidad and Tobago Latin America & Caribbean Doing Business 2018 Antigua and Barbuda Details – Getting Electricity in Antigua and Barbuda – Procedure, Time and Cost No. Procedure Time to Complete Associated Costs 1 Get application form stamped by Development Control Authority 7 calendar days XCD 200 Agency : Development Control Authority Prior to applying for a new electricity connection, the customer must rst have the application form stamped by the Development Control Authority, certifying that a building permit was issued for this building. All applications for new service are to be lled out in quadruplets. Once the application forms have been stamped, they can then be brought to Antigua Public Utilities Authority (APUA). DCA typically takes a week to process the application. 2 Submit application to APUA and await site inspection 7 calendar days XCD 0 Agency : Antigua Public Utilities Authority The customer submits the stamped application forms to APUA, accompanied by a valid photo I.D. and a detailed location of where the service is desired. Within 5 working days, APUA will make an inspection. In the event this service doesn't comply with the authority's standard it will be rejected and will be led away until the applicant informs the authority that he/she is ready for a second inspection. Once the engineer has conducted the site inspection and assessed the requirements of materials, an estimate is prepared identifying all the necessary components required to complete the installation. 3 Receive internal wiring inspection by APUA 21 calendar days XCD 43,200 Agency : Antigua Public Utilities Authority Payment of the estimated amount is usually made in whole, but sometimes if the customer requests that it is paid in two installments - 50% at receiving estimate, and the remaining balance after the internal inspection has been completed. The utility will proceed with the external works once there is no more outstanding payments. . The customer is expected to be present during the internal wiring inspection. If the customer has requested to pay in two installments, then once this inspection is completed, the utility will provide the necessary instruction to pay for the remaining balance. Only then can the external works be done. 4 Receive external works, meter installation and electricity ow from 7 calendar days XCD 0 APUA Agency : Antigua Public Utilities Authority APUA will complete the external works, the meter installation and then electricity will ow. If the customer is the owner of the building, no security deposit will be charged. Takes place simultaneously with previous procedure. Details – Getting Electricity in Antigua and Barbuda – Measure of Quality Answer Reliability of supply and transparency of tari index (0-8) 5 Total duration and frequency of outages per customer a year (0-3) 1 Page 22   Takes place simultaneously with previous procedure. Doing Business 2018 Antigua and Barbuda Details – Getting Electricity in Antigua and Barbuda – Measure of Quality Answer Reliability of supply and transparency of tari index (0-8) 5 Total duration and frequency of outages per customer a year (0-3) 1 System average interruption duration index (SAIDI) 6.5 System average interruption frequency index (SAIFI) 10.5 What is the minimum outage time (in minutes) that the utility considers for the calculation of SAIDI/SAIFI 1.0 Mechanisms for monitoring outages (0-1) 1 Does the distribution utility use automated tools to monitor outages? Yes Mechanisms for restoring service (0-1) 1 Does the distribution utility use automated tools to restore service? Yes Regulatory monitoring (0-1) 0 Does a regulator—that is, an entity separate from the utility—monitor the utility’s performance on No reliability of supply? Financial deterrents aimed at limiting outages (0-1) 1 Does the utility either pay compensation to customers or face nes by the regulator (or both) if outages Yes exceed a certain cap? Communication of tari s and tari changes (0-1) 1 Are e ective tari s available online? Yes Link to the website, if available online http://www.apua.ag/ resource- centre/rates/ Are customers noti ed of a change in tari ahead of the billing cycle? Yes Note: If the duration and frequency of outages is 100 or less, the economy is eligible to score on the Reliability of supply and transparency of tari index. If the duration and frequency of outages is not available, or is over 100, the economy is not eligible to score on the index. If the minimum outage time considered for SAIDI/SAIFI is over 5 minutes, the economy is not eligible to score on the index. Registering Property This topic examines the steps, time and cost involved in registering property, assuming a standardized case of an entrepreneur who wants to purchase land and a building that is already registered and free of title dispute. In addition, the topic also measures the quality of the land administration system in each economy. The quality of land administration index has ve dimensions: reliability of infrastructure, transparency of information, geographic coverage, land dispute resolution, and equal access to property rights. The most recent round of data collection for the project was completed in June 2017. See the methodology for more information. Page 23   What the indicators measure Case study assumptions If the minimum outage time considered for SAIDI/SAIFI is over 5 minutes, the economy is not eligible to score on the index. Doing Business 2018 Antigua and Barbuda Registering Property This topic examines the steps, time and cost involved in registering property, assuming a standardized case of an entrepreneur who wants to purchase land and a building that is already registered and free of title dispute. In addition, the topic also measures the quality of the land administration system in each economy. The quality of land administration index has ve dimensions: reliability of infrastructure, transparency of information, geographic coverage, land dispute resolution, and equal access to property rights. The most recent round of data collection for the project was completed in June 2017. See the methodology for more information. What the indicators measure Case study assumptions Procedures to legally transfer title on immovable To make the data comparable across economies, several assumptions property (number) about the parties to the transaction, the property and the procedures are used. Preregistration procedures (for example, checking for liens, notarizing sales agreement, The parties (buyer and seller): paying property transfer taxes) - Are limited liability companies (or the legal equivalent). Registration procedures in the economy's largest - Are located in the periurban area of the economy’s largest business city. business citya. For 11 economies the data are also collected for the second largest Postregistration procedures (for example, filling business city. title with municipality) - Are 100% domestically and privately owned. Time required to complete each procedure - Have 50 employees each, all of whom are nationals. (calendar days) - Perform general commercial activities. Does not include time spent gathering information The property (fully owned by the seller): - Has a value of 50 times income per capita, which equals the sale price. Each procedure starts on a separate day - though - Is fully owned by the seller. procedures that can be fully completed online - Has no mortgages attached and has been under the same ownership for are an exception to this rule the past 10 years. Procedure is considered completed once final - Is registered in the land registry or cadastre, or both, and is free of title document is received disputes. No prior contact with officials - Is located in a periurban commercial zone, and no rezoning is required. Cost required to complete each procedure (% of - Consists of land and a building. The land area is 557.4 square meters property value) (6,000 square feet). A two-story warehouse of 929 square meters (10,000 square feet) is located on the land. The warehouse is 10 years old, is in Official costs only (such as administrative fees, good condition, has no heating system and complies with all safety duties and taxes). standards, building codes and legal requirements. The property, Value Added Tax, Capital Gains Tax and illicit consisting of land and building, will be transferred in its entirety. payments are excluded - Will not be subject to renovations or additional construction following the Quality of land administration index (0-30) purchase. - Has no trees, natural water sources, natural reserves or historical Reliability of infrastructure index (0-8) monuments of any kind. Transparency of information index (0–6) - Will not be used for special purposes, and no special permits, such as for Geographic coverage index (0–8) residential use, industrial plants, waste storage or certain types of agricultural activities, are required. Land dispute resolution index (0–8) - Has no occupants, and no other party holds a legal interest in it. Equal access to property rights index (-2–0) Standard Property Transfer Property value XCD 1,889,168.20 City Covered St. John's Page 24   Antigua and Latin America & OECD high Doing Business 2018 Antigua and Barbuda Standard Property Transfer Property value XCD 1,889,168.20 City Covered St. John's Antigua and Latin America & OECD high Indicator Barbuda Caribbean income Overall Best Performer Procedures (number) 7 7.2 4.6 1.00 (4 Economies) Time (days) 32 63.3 22.3 1.00 (3 Economies) Cost (% of property value) 10.8 5.8 4.2 0.00 (5 Economies) Quality of the land administration index (0-30) 19.0 12.0 22.7 29.00 (Singapore) Figure – Registering Property in Antigua and Barbuda and comparator economies – Ranking and DTF DB 2018 Distance to Frontier (DTF) 0 100 56.61: Antigua and Barbuda (Rank: 118) 55.36: Regional Average (Latin America & Caribbean) 53.70: Jamaica (Rank: 128) 50.15: Grenada (Rank: 141) 47.50: Trinidad and Tobago (Rank: 151) 43.40: Dominica (Rank: 164) Note: The ranking of economies on the ease of registering property is determined by sorting their distance to frontier scores for registering property. These scores are the simple average of the distance to frontier scores for each of the component indicators. Figure – Registering Property in Antigua and Barbuda – Procedure, Time and Cost Time Cost 12 30 10 25 Cost (% of property value) 8 20 Time (days) 6 15 10 4 5 2 0 0 1 *2 *3 4 *5 6 7 Procedures (number) * This symbol is shown beside procedure numbers that take place simultaneously with the previous procedure. Page 25   Note: Online procedures account for 0.5 days in the total time calculation. For economies that have a di erent procedure list for registering property. These scores are the simple average of the distance to frontier scores for each of the component indicators. Doing Business 2018 Antigua and Barbuda Figure – Registering Property in Antigua and Barbuda – Procedure, Time and Cost Time Cost 12 30 10 25 Cost (% of property value) 8 20 Time (days) 6 15 10 4 5 2 0 0 1 *2 *3 4 *5 6 7 Procedures (number) * This symbol is shown beside procedure numbers that take place simultaneously with the previous procedure. Note: Online procedures account for 0.5 days in the total time calculation. For economies that have a di erent procedure list for men and women, the graph shows the time for women. For more information on methodology, see the Doing Business website (http://www.doingbusiness.org/methodology). For details on the procedures re ected here, see the summary below. Figure – Registering Property in Antigua and Barbuda and comparator economies – Measure of Quality 20 19.0 18 16 14.0 14 12.0 12.0 Index score 12 10 8 7.0 6 4.5 4 2 0 Antigua and Barbuda Dominica Grenada Jamaica Trinidad and Tobago Latin America & Caribbean Details – Registering Property in Antigua and Barbuda – Procedure, Time and Cost No. Procedure Time to Complete Associated Costs 1 Preparation of the sale purchase agreement and instrument of transfer 3 - 4 days Paid in Procedure 7 Agency : Lawyer (simultaneous with procedures 1 and It is standard practice that the sale purchase agreement is prepared by a 3) lawyer. At this point the purchaser usually gives a deposit on the property to the vendor. The vendor guarantees that there are no encumbrances (or they are noted in the agreement) and no outstanding taxes associated with the property. Both companies present the resolution of their shareholders to engage in the transaction, as well as powers of attorney to act on behalf of the company. The corporate seal for the companies is also attached to the land transfer document. At the end of this time period, the parties execute the instrument of transfer (a prescribed form according to Laws of Antigua Page 26   and Barbuda, revised in 2007, Vol. 13, CAP 374) and swear the certi cations Antigua and Barbuda Dominica Grenada Jamaica Trinidad and Tobago Latin America & Caribbean Doing Business 2018 Antigua and Barbuda Details – Registering Property in Antigua and Barbuda – Procedure, Time and Cost No. Procedure Time to Complete Associated Costs 1 Preparation of the sale purchase agreement and instrument of transfer 3 - 4 days Paid in Procedure 7 Agency : Lawyer (simultaneous with procedures 1 and It is standard practice that the sale purchase agreement is prepared by a 3) lawyer. At this point the purchaser usually gives a deposit on the property to the vendor. The vendor guarantees that there are no encumbrances (or they are noted in the agreement) and no outstanding taxes associated with the property. Both companies present the resolution of their shareholders to engage in the transaction, as well as powers of attorney to act on behalf of the company. The corporate seal for the companies is also attached to the land transfer document. At the end of this time period, the parties execute the instrument of transfer (a prescribed form according to Laws of Antigua and Barbuda, revised in 2007, Vol. 13, CAP 374) and swear the certi cations of their signatures. 2 Conduct title search at the Land Registry 1 day XCD 50 Agency : Land Registry (simultaneous with procedures 2 and The lawyer checks for encumbrances at the Land Registry. The Registry is 3) computerized, so the lawyer gives the clerk the block and parcel number, and the clerk can obtain title record with this information. If the block and parcel number is unknown, an index search of the current Registered Proprietor's name can be conducted to locate the parcel in question. Since January 2016, it is possible to conduct title searches online at http://www.lands.gov.ag/landfolio.publicaccess.web/Contents/Home.aspx 3 Obtain the Chief Surveyor's certi cate 1 day XCD 35 Agency : O ce of the Chief Surveyor (simultaneous with procedures 1 and According to the Registered Land Amendment Act of 2007, it is mandatory 2) that the Chief Surveyor's certi cate appears in the transfer. Any land privately owned for at least 10 years must have a Chief Surveyor's certi cate con rming that the boundaries have been authenticated. A transfer led without this certi cate cannot be registered. This is to ensure that the boundaries of registered land remain accurate, as well as to avoid mischievous declarations. Usually surveyors are available, and they would be hired to do the veri cation and submit the form. After that the Surveyor’s o ce just signs and allows the transfer. The Land Surveys Division must verify the boundaries of the subject property and con rm that they have been established or re-established with the 10 years preceding the land transfer. The Registered Land Act Cap 374 was amended on the 25th October, 2007 to include the following provisions namely Sections 106(6) and 106(7): (1) "The Registrar may require an instrument of transfer to be accompanied by a survey plan authenticated by the Chief Land Surveyor indicating that the boundary in respect of the land to which the instrument relates has been authenticated." Page 27   (2) "The Registrar may require a resurvey of the land to which the instrument January 2016, it is possible to conduct title searches online at Doing http://www.lands.gov.ag/landfolio.publicaccess.web/Contents/Home.aspx Business 2018 Antigua and Barbuda 3 Obtain the Chief Surveyor's certi cate 1 day XCD 35 Agency : O ce of the Chief Surveyor (simultaneous with procedures 1 and According to the Registered Land Amendment Act of 2007, it is mandatory 2) that the Chief Surveyor's certi cate appears in the transfer. Any land privately owned for at least 10 years must have a Chief Surveyor's certi cate con rming that the boundaries have been authenticated. A transfer led without this certi cate cannot be registered. This is to ensure that the boundaries of registered land remain accurate, as well as to avoid mischievous declarations. Usually surveyors are available, and they would be hired to do the veri cation and submit the form. After that the Surveyor’s o ce just signs and allows the transfer. The Land Surveys Division must verify the boundaries of the subject property and con rm that they have been established or re-established with the 10 years preceding the land transfer. The Registered Land Act Cap 374 was amended on the 25th October, 2007 to include the following provisions namely Sections 106(6) and 106(7): (1) "The Registrar may require an instrument of transfer to be accompanied by a survey plan authenticated by the Chief Land Surveyor indicating that the boundary in respect of the land to which the instrument relates has been authenticated." (2) "The Registrar may require a resurvey of the land to which the instrument relates where the authentication of the boundary was e ected more than ten years prior to the date of the instrument." 4 Executed instrument of transfer submitted to the Inland Revenue 14 days no cost Commission (simultaneous with Agency : Inland Revenue Department procedure 5) The Inland Revenue Commission checks that all property taxes have been paid, and assesses the value of the land according to the existing cadastre to decide the amount of stamp duty to be paid. Occasionally, evaluation o cers may need to inspect the property at this point in order to determine its value if there is a discrepancy in the records of property taxes vs. the cadastral value. 5 Inspection of the property by the Inland Revenue Commission 1 day no cost Agency : Inland Revenue Department (simultaneous with procedure 4) The Valuation Division of the Inland Revenue Department assesses the property value for purposes of charging the stamp duty on the property. To complete this assessment a valuation o cer must inspect the site. 6 Payment of stamp duty on the instrument of transfer at the Inland 1 day 10% of property Revenue Commission value Agency : Inland Revenue Department The Law requires that the Vendor pays 7.5% of the property value as transfer tax, and that the Purchaser pays 2.5 % of the property value as transfer tax. Once it is found that no taxes are owed, the certi cation of rates and taxes attached to the transfer is completed by an evaluation o cer from the Property Tax Division. Parties pay the assessed stamp duty and the Page 28   instrument of transfer is stamped. property value for purposes of charging the stamp duty on the property. To Doing complete Business this assessment 2018 a valuation Antigua o cer must inspect the site. and Barbuda 6 Payment of stamp duty on the instrument of transfer at the Inland 1 day 10% of property Revenue Commission value Agency : Inland Revenue Department The Law requires that the Vendor pays 7.5% of the property value as transfer tax, and that the Purchaser pays 2.5 % of the property value as transfer tax. Once it is found that no taxes are owed, the certi cation of rates and taxes attached to the transfer is completed by an evaluation o cer from the Property Tax Division. Parties pay the assessed stamp duty and the instrument of transfer is stamped. 7 Instrument of transfer is submitted to the Land Registry for registration Between 1 to 3 XCD30 (registration Agency : Land Registry weeks fee) + XCD100 (land certificate) + lawyer’s The previous Land Certi cate must be submitted to the registry for fees (2.5% on the destruction. The documents for the instrument of transfer are then led first XCD25,000, 2% with the date and time submitted noted on the document itself. All copies on the second are sealed by the registry, but only one copy needs the stamps attached. A XCD$25,000 and 1% copy is returned to the buyer. The change of ownership is then noted on the requisite register. This is then submitted to the Registrar of Lands for on the next signature, at which point the transfer is considered registered. The XCD950,000 and 0.5% application for a new Land Certi cate can occur during this time, and is on the balance) usually issued simultaneously. The registration fee of ED$ 20 is paid in stamps at the Antigua & Barbuda Registry of Lands. Lawyers/notaries will usually keep a supply of these at their o ces for this purpose. The registration fee is EC$20 if not more than 3 months have passed between execution and registration of the instrument of transfer. Filing a transfer after 3 months of the date of execution is an additional fee of EC$30 for each three month period but not exceeding the sum of EC$150. Lawyer/notary fees are usually paid once the Land Certi cate is issued and the documents are registered. Documents required: - Instrument of transfer (2 copies required by law) - Proof of payment of all taxes relating to the property - Old land certi cate - Application for new land certi cate (optional, blanks available at the registry) Takes place simultaneously with previous procedure. Details – Registering Property in Antigua and Barbuda – Measure of Quality Answer Score Quality of the land administration index (0-30) 19.0 Reliability of infrastructure index (0-8) 6.0 What is the institution in charge of immovable property registration? Land Registry Page 29   Takes place simultaneously with previous procedure. Doing Business 2018 Antigua and Barbuda Details – Registering Property in Antigua and Barbuda – Measure of Quality Answer Score Quality of the land administration index (0-30) 19.0 Reliability of infrastructure index (0-8) 6.0 What is the institution in charge of immovable property registration? Land Registry Department In what format are the majority of title or deed records kept in the largest business city Computer/Scann 1.0 —in a paper format or in a computerized format (scanned or fully digital)? ed Is there an electronic database for checking for encumbrances (liens, mortgages, Yes 1.0 restrictions and the like)? Institution in charge of the plans showing legal boundaries in the largest business city: Surveys Department In what format are the majority of maps of land plots kept in the largest business city— Computer/Scann 1.0 in a paper format or in a computerized format (scanned or fully digital)? ed Is there an electronic database for recording boundaries, checking plans and providing Yes 1.0 cadastral information (geographic information system)? Is the information recorded by the immovable property registration agency and the Single database 1.0 cadastral or mapping agency kept in a single database, in di erent but linked databases or in separate databases? Do the immovable property registration agency and cadastral or mapping agency use Yes 1.0 the same identi cation number for properties? Transparency of information index (0–6) 1.5 Who is able to obtain information on land ownership at the agency in charge of Anyone who 1.0 immovable property registration in the largest business city? pays the o cial fee Is the list of documents that are required to complete any type of property transaction Yes, in person 0.0 made publicly available–and if so, how? Link for online access: Is the applicable fee schedule for any property transaction at the agency in charge of Yes, in person 0.0 immovable property registration in the largest business city made publicly available– and if so, how? Link for online access: Does the agency in charge of immovable property registration commit to delivering a No 0.0 legally binding document that proves property ownership within a speci c time frame– and if so, how does it communicate the service standard? Link for online access: Is there a speci c and separate mechanism for ling complaints about a problem that No 0.0 occurred at the agency in charge of immovable property registration? Contact information: Page 30   Link for Doing online access: Business 2018 Antigua and Barbuda Is there a speci c and separate mechanism for ling complaints about a problem that No 0.0 occurred at the agency in charge of immovable property registration? Contact information: Are there publicly available o cial statistics tracking the number of transactions at the No 0.0 immovable property registration agency? Number of property transfers in the largest business city in 2015: Who is able to consult maps of land plots in the largest business city? Anyone who 0.5 pays the o cial fee Is the applicable fee schedule for accessing maps of land plots made publicly available Yes, in person 0.0 —and if so, how? Link for online access: Does the cadastral or mapping agency commit to delivering an updated map within a No 0.0 speci c time frame—and if so, how does it communicate the service standard? Link for online access: Is there a speci c and separate mechanism for ling complaints about a problem that No 0.0 occurred at the cadastral or mapping agency? Contact information: Geographic coverage index (0–8) 4.0 Are all privately held land plots in the economy formally registered at the immovable No 0.0 property registry? Are all privately held land plots in the largest business city formally registered at the Yes 2.0 immovable property registry? Are all privately held land plots in the economy mapped? No 0.0 Are all privately held land plots in the largest business city mapped? Yes 2.0 Land dispute resolution index (0–8) 7.5 Does the law require that all property sale transactions be registered at the immovable Yes 1.5 property registry to make them opposable to third parties? Is the system of immovable property registration subject to a state or private Yes 0.5 guarantee? Is there a speci c compensation mechanism to cover for losses incurred by parties who Yes 0.5 engaged in good faith in a property transaction based on erroneous information certi ed by the immovable property registry? Does the legal system require a control of legality of the documents necessary for a Yes 0.5 property transaction (e.g., checking the compliance of contracts with requirements of the law)? If yes, who is responsible for checking the legality of the documents? Registrar. Does the legal system require veri cation of the identity of the parties to a property Yes 0.5 Page 31   transaction? If yes, Doing who is responsible Business for checking 2018 Antigua andthe legality of the documents? Barbuda Registrar. Does the legal system require veri cation of the identity of the parties to a property Yes 0.5 transaction? If yes, who is responsible for verifying the identity of the parties? Lawyer. Is there a national database to verify the accuracy of identity documents? Yes 1.0 For a standard land dispute between two local businesses over tenure rights of a High Court property worth 50 times gross national income (GNI) per capita and located in the largest business city, what court would be in charge of the case in the rst instance? How long does it take on average to obtain a decision from the rst-instance court for Less than a year 3.0 such a case (without appeal)? Are there any statistics on the number of land disputes in the rst instance? No 0.0 Number of land disputes in the largest business city in 2015: Equal access to property rights index (-2–0) 0.0 Do unmarried men and unmarried women have equal ownership rights to property? Yes 0.0 Do married men and married women have equal ownership rights to property? Yes 0.0 Getting Credit This topic explores two sets of issues—the strength of credit reporting systems and the e ectiveness of collateral and bankruptcy laws in facilitating lending. The most recent round of data collection for the project was completed in June 2017. See the methodology for more information. What the indicators measure Case study assumptions Strength of legal rights index (0–12) Doing Business assesses the sharing of credit information and the legal rights of borrowers and lenders with respect to secured transactions Rights of borrowers and lenders through through 2 sets of indicators. The depth of credit information index collateral laws (0-10) measures rules and practices a ecting the coverage, scope and Protection of secured creditors’ rights through accessibility of credit information available through a credit registry or a bankruptcy laws (0-2) credit bureau. The strength of legal rights index measures the degree to Depth of credit information index (0–8) which collateral and bankruptcy laws protect the rights of borrowers and lenders and thus facilitate lending. For each economy it is first determined Scope and accessibility of credit information whether a unitary secured transactions system exists. Then two case distributed by credit bureaus and credit scenarios, case A and case B, are used to determine how a nonpossessory registries (0-8) security interest is created, publicized and enforced according to the law. Credit bureau coverage (% of adults) Special emphasis is given to how the collateral registry operates (if Number of individuals and firms listed in largest registration of security interests is possible). The case scenarios involve a credit bureau as a percentage of adult population secured borrower, company ABC, and a secured lender, BizBank. Credit registry coverage (% of adults) In some economies the legal framework for secured transactions will allow Number of individuals and firms listed in credit only case A or case B (not both) to apply. Both cases examine the same set registry as a percentage of adult population of legal provisions relating to the use of movable collateral. Several assumptions about the secured borrower (ABC) and lender (BizBank) are used: - ABC is a domestic limited liability company (or its legal equivalent). - ABC has up to 50 employees. - ABC has its headquarters and only base of operations in the economy’s largest business city. For 11 economies the data are also collected for the Page 32   second largest business city. Do married men and married women have equal ownership rights to property? Yes 0.0 Doing Business 2018 Antigua and Barbuda Getting Credit This topic explores two sets of issues—the strength of credit reporting systems and the e ectiveness of collateral and bankruptcy laws in facilitating lending. The most recent round of data collection for the project was completed in June 2017. See the methodology for more information. What the indicators measure Case study assumptions Strength of legal rights index (0–12) Doing Business assesses the sharing of credit information and the legal rights of borrowers and lenders with respect to secured transactions Rights of borrowers and lenders through through 2 sets of indicators. The depth of credit information index collateral laws (0-10) measures rules and practices a ecting the coverage, scope and Protection of secured creditors’ rights through accessibility of credit information available through a credit registry or a bankruptcy laws (0-2) credit bureau. The strength of legal rights index measures the degree to Depth of credit information index (0–8) which collateral and bankruptcy laws protect the rights of borrowers and lenders and thus facilitate lending. For each economy it is first determined Scope and accessibility of credit information whether a unitary secured transactions system exists. Then two case distributed by credit bureaus and credit scenarios, case A and case B, are used to determine how a nonpossessory registries (0-8) security interest is created, publicized and enforced according to the law. Credit bureau coverage (% of adults) Special emphasis is given to how the collateral registry operates (if Number of individuals and firms listed in largest registration of security interests is possible). The case scenarios involve a credit bureau as a percentage of adult population secured borrower, company ABC, and a secured lender, BizBank. Credit registry coverage (% of adults) In some economies the legal framework for secured transactions will allow Number of individuals and firms listed in credit only case A or case B (not both) to apply. Both cases examine the same set registry as a percentage of adult population of legal provisions relating to the use of movable collateral. Several assumptions about the secured borrower (ABC) and lender (BizBank) are used: - ABC is a domestic limited liability company (or its legal equivalent). - ABC has up to 50 employees. - ABC has its headquarters and only base of operations in the economy’s largest business city. For 11 economies the data are also collected for the second largest business city. - Both ABC and BizBank are 100% domestically owned. The case scenarios also involve assumptions. In case A, as collateral for the loan, ABC grants BizBank a nonpossessory security interest in one category of movable assets, for example, its machinery or its inventory. ABC wants to keep both possession and ownership of the collateral. In economies where the law does not allow nonpossessory security interests in movable property, ABC and BizBank use a fiduciary transfer-of-title arrangement (or a similar substitute for nonpossessory security interests). In case B, ABC grants BizBank a business charge, enterprise charge, floating charge or any charge that gives BizBank a security interest over ABC’s combined movable assets (or as much of ABC’s movable assets as possible). ABC keeps ownership and possession of the assets. Antigua and Latin America & OECD high Indicator Barbuda Caribbean income Overall Best Performer Strength of legal rights index (0-12) 5 5.3 6.0 12.00 (4 Economies) Depth of credit information index (0-8) 0 4.8 6.6 8.00 (34 Economies) Page 33   Credit registry coverage (% of adults) 0.0 14.0 18.3 100.00 (3 Economies) possible). ABC keeps ownership and possession of the assets. Doing Business 2018 Antigua and Barbuda Antigua and Latin America & OECD high Indicator Barbuda Caribbean income Overall Best Performer Strength of legal rights index (0-12) 5 5.3 6.0 12.00 (4 Economies) Depth of credit information index (0-8) 0 4.8 6.6 8.00 (34 Economies) Credit registry coverage (% of adults) 0.0 14.0 18.3 100.00 (3 Economies) Credit bureau coverage (% of adults) 0.0 43.1 63.7 100.00 (23 Economies) Figure – Getting Credit in Antigua and Barbuda and comparator economies – Ranking and DTF DB 2018 Distance to Frontier (DTF) 0 100 80.00: Jamaica (Rank: 20) 65.00: Trinidad and Tobago (Rank: 55) 50.94: Regional Average (Latin America & Caribbean) 30.00: Dominica (Rank: 142) 30.00: Grenada (Rank: 142) 25.00: Antigua and Barbuda (Rank: 159) Note: The ranking of economies on the ease of getting credit is determined by sorting their distance to frontier scores for getting credit. These scores are the distance to frontier score for the sum of the strength of legal rights index and the depth of credit information index. Figure – Legal Rights in Antigua and Barbuda and comparator economies 10 9 9 8 7 7 6 6 Index score 6 5 5.3 5 4 3 2 1 0 Antigua and Barbuda Dominica Grenada Jamaica Trinidad and Tobago Latin America & Caribbean Details – Legal Rights in Antigua and Barbuda Strength of legal rights index (0-12) 5 Does an integrated or uni ed legal framework for secured transactions that extends to the creation, publicity and No enforcement of functional equivalents to security interests in movable assets exist in the economy? Does the law allow businesses to grant a non possessory security right in a single category of movable assets, without Yes requiring a speci c description of collateral? Page 34   Antigua and Barbuda Dominica Grenada Jamaica Trinidad and Tobago Latin America & Caribbean Doing Business 2018 Antigua and Barbuda Details – Legal Rights in Antigua and Barbuda Strength of legal rights index (0-12) 5 Does an integrated or uni ed legal framework for secured transactions that extends to the creation, publicity and No enforcement of functional equivalents to security interests in movable assets exist in the economy? Does the law allow businesses to grant a non possessory security right in a single category of movable assets, without Yes requiring a speci c description of collateral? Does the law allow businesses to grant a non possessory security right in substantially all of its assets, without requiring Yes a speci c description of collateral? May a security right extend to future or after-acquired assets, and does it extend automatically to the products, proceeds Yes or replacements of the original assets? Is a general description of debts and obligations permitted in collateral agreements; can all types of debts and Yes obligations be secured between parties; and can the collateral agreement include a maximum amount for which the assets are encumbered? Is a collateral registry in operation for both incorporated and non-incorporated entities, that is uni ed geographically No and by asset type, with an electronic database indexed by debtor's name? Does a notice-based collateral registry exist in which all functional equivalents can be registered? No Does a modern collateral registry exist in which registrations, amendments, cancellations and searches can be No performed online by any interested third party? Are secured creditors paid rst (i.e. before tax claims and employee claims) when a debtor defaults outside an insolvency No procedure? Are secured creditors paid rst (i.e. before tax claims and employee claims) when a business is liquidated? No Are secured creditors subject to an automatic stay on enforcement when a debtor enters a court-supervised No reorganization procedure? Does the law protect secured creditors’ rights by providing clear grounds for relief from the stay and/or sets a time limit for it? Does the law allow parties to agree on out of court enforcement at the time a security interest is created? Does the law Yes allow the secured creditor to sell the collateral through public auction or private tender, as well as, for the secured creditor to keep the asset in satisfaction of the debt? Figure – Credit Information in Antigua and Barbuda and comparator economies 8 7 6 6 Index score 4.8 4 2 0 0 0 0 Antigua and Barbuda Dominica Grenada Jamaica Trinidad and Tobago Latin America & Caribbean Details – Credit Information in Antigua and Barbuda Page 35   0 0 0 0 Barbuda Antigua Antigua and 2018 Doing Business Dominica and Barbuda Grenada Jamaica Trinidad and Tobago Latin America & Caribbean Details – Credit Information in Antigua and Barbuda Credit Credit Depth of credit information index (0-8) bureau registry Score Are data on both firms and individuals distributed? No No 0 Are both positive and negative credit data distributed? No No 0 Are data from retailers or utility companies - in addition to data from banks and financial institutions - No No 0 distributed? Are at least 2 years of historical data distributed? (Credit bureaus and registries that distribute more No No 0 than 10 years of negative data or erase data on defaults as soon as they are repaid obtain a score of 0 for this component.) Are data on loan amounts below 1% of income per capita distributed? No No 0 By law, do borrowers have the right to access their data in the credit bureau or credit registry? No No 0 Can banks and financial institutions access borrowers’ credit information online (for example, No No 0 through an online platform, a system-to-system connection or both)? Are bureau or registry credit scores offered as a value-added service to help banks and financial No No 0 institutions assess the creditworthiness of borrowers? Score ("yes" to either public bureau or private registry) 0 Note: An economy receives a score of 1 if there is a "yes" to either bureau or registry. If the credit bureau or registry is not operational or covers less than 5% of the adult population, the total score on the depth of credit information index is 0. Coverage Credit bureau Credit registry Number of individuals 0 0 Number of firms 0 0 Total 0 0 Percentage of adult population 0.0 0.0 Protecting Minority Investors This topic measures the strength of minority shareholder protections against misuse of corporate assets by directors for their personal gain as well as shareholder rights, governance safeguards and corporate transparency requirements that reduce the risk of abuse. The most recent round of data collection for the project was completed in June 2017. See the methodology for more information. What the indicators measure Case study assumptions Extent of disclosure index (0–10): Review and To make the data comparable across economies, a case study uses several approval requirements for related-party assumptions about the business and the transaction. transactions; Disclosure requirements for related-party transactions The business (Buyer): Extent of director liability index (0–10): Ability of - Is a publicly traded corporation listed on the economy’s most important minority shareholders to sue and hold interested stock exchange. If the number of publicly traded companies listed on that directors liable for prejudicial related-party exchange is less than 10, or if there is no stock exchange in the economy, it is assumed that Buyer is a large private company with multiple Page 36   transactions; Available legal remedies (damages, Percentage of adult population 0.0 0.0 Doing Business 2018 Antigua and Barbuda Protecting Minority Investors This topic measures the strength of minority shareholder protections against misuse of corporate assets by directors for their personal gain as well as shareholder rights, governance safeguards and corporate transparency requirements that reduce the risk of abuse. The most recent round of data collection for the project was completed in June 2017. See the methodology for more information. What the indicators measure Case study assumptions Extent of disclosure index (0–10): Review and To make the data comparable across economies, a case study uses several approval requirements for related-party assumptions about the business and the transaction. transactions; Disclosure requirements for related-party transactions The business (Buyer): Extent of director liability index (0–10): Ability of - Is a publicly traded corporation listed on the economy’s most important minority shareholders to sue and hold interested stock exchange. If the number of publicly traded companies listed on that directors liable for prejudicial related-party exchange is less than 10, or if there is no stock exchange in the economy, it transactions; Available legal remedies (damages, is assumed that Buyer is a large private company with multiple disgorgement of profits, fines, imprisonment, shareholders. rescission of the transaction) - Has a board of directors and a chief executive o cer (CEO) who may legally act on behalf of Buyer where permitted, even if this is not speci cally Ease of shareholder suits index (0–10): Access to required by law. internal corporate documents; Evidence - Has a supervisory board (applicable to economies with a two-tier board obtainable during trial and allocation of legal system) on which 60% of the shareholder-elected members have been expenses appointed by Mr. James, who is Buyer’s controlling shareholder and a Extent of conflict of interest regulation index member of Buyer’s board of directors. (0–10): Simple average of the extent of disclosure, - Has not adopted any bylaws or articles of association that di er from extent of director liability and ease of default minimum standards and does not follow any nonmandatory codes, shareholder indices principles, recommendations or guidelines relating to corporate Extent of shareholder rights index (0-10): governance. Shareholders’ rights and role in major corporate - Is a manufacturing company with its own distribution network. decisions Extent of ownership and control index (0-10): The transaction involves the following details: Governance safeguards protecting shareholders - Mr. James owns 60% of Buyer and elected two directors to Buyer’s ve- from undue board control and entrenchment member board. Extent of corporate transparency index (0-10): - Mr. James also owns 90% of Seller, a company that operates a chain of Corporate transparency on ownership stakes, retail hardware stores. Seller recently closed a large number of its stores. compensation, audits and financial prospects - Mr. James proposes that Buyer purchase Seller’s unused eet of trucks to expand Buyer’s distribution of its food products, a proposal to which Buyer Extent of shareholder governance index (0–10): agrees. The price is equal to 10% of Buyer’s assets and is higher than the Simple average of the extent of shareholders market value. rights, extent of ownership and control and - The proposed transaction is part of the company’s ordinary course of extent of corporate transparency indices business and is not outside the authority of the company. Strength of minority investor protection index - Buyer enters into the transaction. All required approvals are obtained, (0–10): Simple average of the extent of conflict of and all required disclosures made (that is, the transaction is not interest regulation and extent of shareholder fraudulent). governance indices - The transaction causes damages to Buyer. Shareholders sue Mr. James and the other parties that approved the transaction. Antigua and Latin America & OECD high Indicator Barbuda Caribbean income Overall Best Performer Extent of conflict of interest regulation index (0- 6.7 5.3 6.4 9.3 (New Zealand) 10) Extent of shareholder governance index (0-10) 3.7 4.1 6.4 Page 37   9.00 (Kazakhstan) and the other parties that approved the transaction. Doing Business 2018 Antigua and Barbuda Antigua and Latin America & OECD high Indicator Barbuda Caribbean income Overall Best Performer Extent of conflict of interest regulation index (0- 6.7 5.3 6.4 9.3 (New Zealand) 10) Extent of shareholder governance index (0-10) 3.7 4.1 6.4 9.00 (Kazakhstan) Figure – Protecting Minority Investors in Antigua and Barbuda and comparator economies – Ranking and DTF DB 2018 Distance to Frontier (DTF) 0 100 58.33: Trinidad and Tobago (Rank: 62) 55.00: Jamaica (Rank: 81) 51.67: Antigua and Barbuda (Rank: 96) 51.67: Dominica (Rank: 96) 47.24: Regional Average (Latin America & Caribbean) 43.33: Grenada (Rank: 132) Note: The ranking of economies on the strength of minority investor protections is determined by sorting their distance to frontier scores for protecting minority investors. These scores are the simple average of the distance to frontier scores for the extent of con ict of interest regulation index and the extent of shareholder governance index. Figure – Protecting Minority Investors in Antigua and Barbuda and comparator economies – Measure of Quality Antigua and Barbuda 3 8 4 4 4 8 Dominica 3 8 4 4 4 8 Grenada 1 8 4 2 3 8 Jamaica 6 8 4 4 6 5 Trinidad and Tobago 2 9 4 5 7 8 OECD high income 7.3 5.6 6.5 5.2 6.3 7.4 Latin America & Caribbean 4.1 5.4 4.4 3.4 5.6 6.5 0 5 10 15 20 25 30 35 40 Sub-Indicator Score Extent of corporate transparency index (0­10) Extent of director liability index (0­10) Extent of disclosure index (0­10) Extent of ownership and control index (0­10) Extent of shareholder rights index (0­10) Ease of shareholder suits index (0­10) Details – Protecting Minority Investors in Antigua and Barbuda – Measure of Quality Answer Score Page 38   Extent of ownership and control index (0­10) Extent of shareholder rights index (0­10) Ease of shareholder suits index (0­10) Doing Business 2018 Antigua and Barbuda Details – Protecting Minority Investors in Antigua and Barbuda – Measure of Quality Answer Score Extent of con ict of interest regulation index (0-10) 6.7 Extent of disclosure index (0-10) 4 Which corporate body is legally su cient to approve the Buyer-Seller transaction? (0-3) Shareholders or 1.0 board of directors including interested parties Must an external body review the terms of the transaction before it takes place? (0-1) No 0.0 Must Mr. James disclose his con ict of interest to the board of directors? (0-2) Full disclosure of 2.0 all material facts Must Buyer disclose the transaction in published periodic lings (annual reports)? (0-2) Disclosure on 1.0 the transaction only Must Buyer immediately disclose the transaction to the public and/or shareholders? (0- No disclosure 0.0 2) obligation Extent of director liability index (0-10) 8 Can shareholders representing 10% of Buyer's share capital sue directly or derivatively Yes 1.0 for the damage the transaction caused to Buyer? (0-1) Can shareholders hold the interested director liable for the damage the transaction Liable if unfair or 2.0 caused to Buyer? (0-2) prejudicial Can shareholders hold the other directors liable for the damage the transaction caused Liable if unfair or 2.0 to Buyer (0-2) prejudicial Must Mr. James pay damages for the harm caused to Buyer upon a successful claim by Yes 1.0 shareholders? (0-1) Must Mr. James repay pro ts made from the transaction upon a successful claim by Yes 1.0 shareholders? (0-1) Is Mr. James disquali ed or ned and imprisoned upon a successful claim by No 0.0 shareholders? (0-1) Can a court void the transaction upon a successful claim by shareholders? (0-2) Voidable if 1.0 negligently concluded Ease of shareholder suits index (0-10) 8 Before suing can shareholders representing 10% of Buyer's share capital inspect the No 0.0 transaction documents? (0-1) Can the plainti obtain any documents from the defendant and witnesses at trial? (0-3) Any relevant 3.0 document Can the plainti request categories of documents from the defendant without Yes 1.0 Page 39   Before suing can shareholders representing 10% of Buyer's share capital inspect the No 0.0 transaction Doing 2018 (0-1) documents? Business Antigua and Barbuda Can the plainti obtain any documents from the defendant and witnesses at trial? (0-3) Any relevant 3.0 document Can the plainti request categories of documents from the defendant without Yes 1.0 identifying speci c ones? (0-1) Can the plainti directly question the defendant and witnesses at trial? (0-2) Yes 2.0 Is the level of proof required for civil suits lower than that of criminal cases? (0-1) Yes 1.0 Can shareholder plainti s recover their legal expenses from the company? (0-2) Yes if successful 1.0 Extent of shareholder governance index (0-10) 3.7 Extent of shareholder rights index (0-10) 4 Does the sale of 51% of Buyer's assets require shareholder approval? No 0.0 Can shareholders representing 10% of Buyer's share capital call for a meeting of Yes 1.0 shareholders? Must Buyer obtain its shareholders’ approval every time it issues new shares? No 0.0 Do shareholders automatically receive preemption rights every time Buyer issues new No 0.0 shares? Must shareholders approve the election and dismissal of the external auditor? Yes 1.0 Are changes to the rights of a class of shares only possible if the holders of the a ected Yes 1.0 shares approve? Assuming that Buyer is a limited company, does the sale of 51% of its assets require No 0.0 member approval? Assuming that Buyer is a limited company, can members representing 10% call for a Yes 1.0 meeting of members? Assuming that Buyer is a limited company, must all members consent to add a new No 0.0 member? Assuming that Buyer is a limited company, must a member rst o er to sell their No 0.0 interest to the existing members before they can sell to non-members? Extent of ownership and control index (0-10) 4 Is it forbidden to appoint the same individual as CEO and chair of the board of No 0.0 directors? Must the board of directors include independent and nonexecutive board members? Yes 1.0 Can shareholders remove members of the board of directors without cause before the Yes 1.0 end of their term? Must the board of directors include a separate audit committee exclusively comprising Yes 1.0 board members? Must a potential acquirer make a tender o er to all shareholders upon acquiring 50% No 0.0 of Buyer? Must Buyer pay declared dividends within a maximum period set by law? No 0.0 Page 40   Must a potential acquirer make a tender o er to all shareholders upon acquiring 50% No 0.0 of Buyer? Doing Business 2018 Antigua and Barbuda Must Buyer pay declared dividends within a maximum period set by law? No 0.0 Is a subsidiary prohibited from acquiring shares issued by its parent company? Yes 1.0 Assuming that Buyer is a limited company, must Buyer have a mechanism to resolve No 0.0 disagreements among members? Assuming that Buyer is a limited company, must a potential acquirer make a tender No 0.0 o er to all shareholders upon acquiring 50% of Buyer? Assuming that Buyer is a limited company, must Buyer distribute pro ts within a No 0.0 maximum period set by law? Extent of corporate transparency index (0-10) 3 Must Buyer disclose direct and indirect bene cial ownership stakes representing 5%? No 0.0 Must Buyer disclose information about board members’ primary employment and No 0.0 directorships in other companies? Must Buyer disclose the compensation of individual managers? No 0.0 Must a detailed notice of general meeting be sent 21 days before the meeting? No 0.0 Can shareholders representing 5% of Buyer’s share capital put items on the general Yes 1.0 meeting agenda? Must Buyer's annual nancial statements be audited by an external auditor? Yes 1.0 Must Buyer disclose its audit reports to the public? No 0.0 Assuming that Buyer is a limited company, must members meet at least once a year? No 0.0 Assuming that Buyer is a limited company, can members representing 5% put items on Yes 1.0 the meeting agenda? Assuming that Buyer is a limited company, must Buyer's annual nancial statements be No 0.0 audited by an external auditor? Paying Taxes This topic records the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as measures the administrative burden in paying taxes and contributions. The most recent round of data collection for the project was completed on June 30, 2017 covering for the Paying Taxes indicator calendar year 2016 (January 1, 2016 – December 31, 2016). Last year (Doing Business 2017) the scope of data collection was expanded to better understand the overall tax environment in an economy. The questionnaire was expanded to include new questions on post- ling processes: VAT refund and tax audit. The data shows where post ling processes and practices work e ciently and what drives the di erences in the overall tax compliance cost across economies. The new section covers both the legal framework and the administrative burden on businesses to comply with post ling processes. See the methodology for more information. What the indicators measure Case study assumptions Tax payments for a manufacturing company in Using a case scenario, Doing Business records taxes and mandatory 2016 (number per year adjusted for electronic and contributions a medium size company must pay in a year, and measures joint ling and payment) the administrative burden of paying taxes, contributions and dealing with Page 41   post ling processes. Information is also compiled on frequency of ling Assuming that Buyer is a limited company, must Buyer's annual nancial statements be No 0.0 audited by an external auditor? Doing Business 2018 Antigua and Barbuda Paying Taxes This topic records the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as measures the administrative burden in paying taxes and contributions. The most recent round of data collection for the project was completed on June 30, 2017 covering for the Paying Taxes indicator calendar year 2016 (January 1, 2016 – December 31, 2016). Last year (Doing Business 2017) the scope of data collection was expanded to better understand the overall tax environment in an economy. The questionnaire was expanded to include new questions on post- ling processes: VAT refund and tax audit. The data shows where post ling processes and practices work e ciently and what drives the di erences in the overall tax compliance cost across economies. The new section covers both the legal framework and the administrative burden on businesses to comply with post ling processes. See the methodology for more information. What the indicators measure Case study assumptions Tax payments for a manufacturing company in Using a case scenario, Doing Business records taxes and mandatory 2016 (number per year adjusted for electronic and contributions a medium size company must pay in a year, and measures joint ling and payment) the administrative burden of paying taxes, contributions and dealing with post ling processes. Information is also compiled on frequency of ling Total number of taxes and contributions paid, and payments, time taken to comply with tax laws, time taken to comply including consumption taxes (value added tax, with the requirements of post ling processes and time waiting. sales tax or goods and service tax) Method and frequency of filing and payment To make data comparable across economies, several assumptions are used: Time required to comply with 3 major taxes - TaxpayerCo is a medium-size business that started operations on January (hours per year) 1, 2015. It produces ceramic flowerpots and sells them at retail. All taxes Collecting information, computing tax payable and contributions recorded are paid in the second year of operation Completing tax return, filing with agencies (calendar year 2016). Taxes and mandatory contributions are measured at all levels of government. Arranging payment or withholding Preparing separate tax accounting books, if The VAT refund process: required - In June 2016, TaxpayerCo. makes a large capital purchase: the value of the Total tax and contribution rate (% of pro t before machine is 65 times income per capita of the economy. Sales are equally all taxes) spread per month (1,050 times income per capita divided by 12) and cost of goods sold are equally expensed per month (875 times income per Profit or corporate income tax capita divided by 12). The machinery seller is registered for VAT and excess Social contributions, labor taxes paid by input VAT incurred in June will be fully recovered after four consecutive employer months if the VAT rate is the same for inputs, sales and the machine and Property and property transfer taxes the tax reporting period is every month. Input VAT will exceed Output VAT Dividend, capital gains, financial transactions in June 2016. taxes The corporate income tax audit process: Waste collection, vehicle, road and other taxes - An error in calculation of income tax liability (for example, use of incorrect Post ling Index tax depreciation rates, or incorrectly treating an expense as tax deductible) leads to an incorrect income tax return and a corporate income Time to comply with a VAT refund tax underpayment. TaxpayerCo. discovered the error and voluntarily Time to receive a VAT refund noti ed the tax authority. The value of the underpaid income tax liability is Time to comply with a corporate income tax audit 5% of the corporate income tax liability due. TaxpayerCo. submits corrected information after the deadline for submitting the annual tax Time to complete a corporate income tax audit return, but within the tax assessment period. Antigua and Latin America & OECD high Indicator Barbuda Caribbean income Overall Best Performer Payments (number per year) 57 28.0 10.9 3 (Hong Kong SAR, China) Page 42   return, but within the tax assessment period. Doing Business 2018 Antigua and Barbuda Antigua and Latin America & OECD high Indicator Barbuda Caribbean income Overall Best Performer Payments (number per year) 57 28.0 10.9 3 (Hong Kong SAR, China) Time (hours per year) 192 332.1 160.7 55 (Luxembourg) Total tax and contribution rate (% of profit) 41.9 46.6 40.1 18.47% (32 Economies) Postfiling index (0-100) 69.40 47.50 83.45 99.38 (Estonia) Figure – Paying Taxes in Antigua and Barbuda and comparator economies – Ranking and DTF DB 2018 Distance to Frontier (DTF) 0 100 74.91: Dominica (Rank: 77) 65.67: Jamaica (Rank: 122) 60.16: Regional Average (Latin America & Caribbean) 59.39: Grenada (Rank: 141) 58.69: Antigua and Barbuda (Rank: 144) 52.22: Trinidad and Tobago (Rank: 162) Note: The ranking of economies on the ease of paying taxes is determined by sorting their distance to frontier scores on the ease of paying taxes. These scores are the simple average of the distance to frontier scores for each of the four component indicators – number of tax payments. time, total tax rate and post ling index – with a threshold and a nonlinear transformation applied to one of the component indicators, the total tax rate. The nonlinear distance to frontier for the total tax rate is equal to the distance to frontier for the total tax rate to the power of 0.8. The threshold is de ned as the total tax rate at the 15th percentile of the overall distribution for all years included in the analysis up to and including Doing Business 2015, which is 26.1%. All economies with a total tax rate below this threshold receive the same score as the economy at the threshold. Figure – Paying Taxes in Antigua and Barbuda and comparator economies – Measure of Quality 90 79.66 80 69.40 70 60 Index score 48.85 47.50 50 40 30 19.68 20 8.00 10 0 Antigua and Barbuda Dominica Grenada Jamaica Trinidad and Tobago Latin America & Caribbean Details – Paying Taxes in Antigua and Barbuda Total tax and Tax or mandatory Payments Notes on Time Statutory contribution rate (% of Notes contribution (number) Payments (hours) tax rate Tax base profit) on TTR Page 43   Corporate income tax 13 23 25% taxable profit 25.89 Doing Business 2018 Antigua and Barbuda Figure – Paying Taxes in Antigua and Barbuda and comparator economies – Measure of Quality 90 79.66 80 69.40 70 60 Index score 48.85 47.50 50 40 30 19.68 20 8.00 10 0 Antigua and Barbuda Dominica Grenada Jamaica Trinidad and Tobago Latin America & Caribbean Details – Paying Taxes in Antigua and Barbuda Total tax and Tax or mandatory Payments Notes on Time Statutory contribution rate (% of Notes contribution (number) Payments (hours) tax rate Tax base profit) on TTR Corporate income tax 13 23 25% taxable profit 25.89 Social security 12 121 6% gross salaries 6.77 contributions capped at $6,500 Stamp duty on 1 7.5% sale price 4.55 property transfer Medical tax 12 3.5% gross salaries 3.95 Property tax - building 1 0.5% assessed market 0.49 value Property tax - land 1 0.4% assessed market 0.20 value Vehicle license 1 XCD 1500 fixed fee depending 0.07 on type of vehicle Filing fee 1 XCD 200 fixed fee 0.01 Fuel tax 1 included in the 0.00 small price of fuel amount Tax on check 1 XCD 0.2 fixed fee 0.00 transactions per check Social Security 0 jointly various gross salaries 0.00 contributions on rates employee Stamp duty on 1 various 0.00 small contracts rates amount Antigua and Barbuda 12 48 15% value added 0.00 not Sales Tax (VAT) included Page 44   Totals 57 192 41.9 Stamp duty on 1 various 0.00 small contracts Doing Business 2018 Antigua and Barbuda rates amount Antigua and Barbuda 12 48 15% value added 0.00 not Sales Tax (VAT) included Totals 57 192 41.9 Details – Paying Taxes in Antigua and Barbuda – Tax by Type Taxes by type Answer Profit tax (% of profit) 25.9 Labor tax and contributions (% of profit) 10.7 Other taxes (% of profit) 5.3 Details – Paying Taxes in Antigua and Barbuda – Measure of Quality Answer Score Post ling index (0-100) 69.40 VAT refunds Does VAT exist? Yes Does a VAT refund process exist per the case study? Yes Restrictions on VAT refund process Carry forward for 6 months Percentage of cases exposed to a VAT audit (%) 75% - 100% Is there a mandatory carry forward period? Yes Time to comply with VAT refund (hours) 12.0 76 Time to obtain a VAT refund (weeks) 52.7 4.37 Corporate income tax audits Does corporate income tax exist? Yes Percentage of cases exposed to a corporate income tax audit (%) 0% - 24% Time to comply with a corporate income tax audit (hours) 3.0 97.25 Time to complete a corporate income tax audit (weeks) No tax audit per 100 case study scenario Notes: Names of taxes have been standardized. For instance income tax, pro t tax, tax on company's income are all named corporate income tax in this table. The hours for VAT include all the VAT and sales taxes applicable. The hours for Social Security include all the hours for labor taxes and mandatory contributions in general. The post ling index is the average of the scores on time to comply with VAT refund, time to obtain a VAT refund, time to comply with a corporate income tax audit and time to complete a corporate income tax audit. N/A = Not applicable. Page 45   The hours for VAT include all the VAT and sales taxes applicable. The hours for Social Security include all the hours for labor taxes and mandatory contributions in general. Doing The postBusiness 2018 ling index is Antigua the average and of the Barbuda scores on time to comply with VAT refund, time to obtain a VAT refund, time to comply with a corporate income tax audit and time to complete a corporate income tax audit. N/A = Not applicable. Trading across Borders Doing Business records the time and cost associated with the logistical process of exporting and importing goods. Doing Business measures the time and cost (excluding tari s) associated with three sets of procedures—documentary compliance, border compliance and domestic transport—within the overall process of exporting or importing a shipment of goods. The most recent round of data collection for the project was completed in June 2017. See the methodology for more information. Given the importance of trade digitalization, in Doing Business 2018, the Trading across Borders questionnaire included research questions on the availability and status of implementation of Electronic Data Interchange (EDI) and Single Window (SW) systems. With this information, Doing Business built a comprehensive dataset on the adoption and level of sophistication of electronic platforms in 190 economies. These data are not used to compute the distance to frontier score or ranking of the ease of doing business. The new dataset on EDI and SW systems is available here. What the indicators measure Case study assumptions Documentary compliance To make the data comparable across economies, a few assumptions are made about the traded goods and the transactions: Obtaining, preparing and submitting documents during transport, clearance, inspections and port Time: Time is measured in hours, and 1 day is 24 hours (for example, 22 or border handling in origin economy days are recorded as 22×24=528 hours). If customs clearance takes 7.5 Obtaining, preparing and submitting documents hours, the data are recorded as is. Alternatively, suppose documents are required by destination economy and any transit submitted to a customs agency at 8:00a.m., are processed overnight and economies can be picked up at 8:00a.m. the next day. The time for customs clearance Covers all documents required by law and in would be recorded as 24 hours because the actual procedure took 24 practice, including electronic submissions of hours. information Border compliance Cost: Insurance cost and informal payments for which no receipt is issued are excluded from the costs recorded. Costs are reported in U.S. dollars. Customs clearance and inspections Contributors are asked to convert local currency into U.S. dollars based on Inspections by other agencies (if applied to more the exchange rate prevailing on the day they answer the questionnaire. than 20% of shipments) Contributors are private sector experts in international trade logistics and Handling and inspections that take place at the are informed about exchange rates. economy’s port or border Assumptions of the case study: - For all 190 economies covered by Doing Domestic transport Business, it is assumed a shipment is in a warehouse in the largest Loading or unloading of the shipment at the business city of the exporting economy and travels to a warehouse in the warehouse or port/border largest business city of the importing economy. - It is assumed each Transport between warehouse and port/border economy imports 15 metric tons of containerized auto parts (HS 8708) from its natural import partner—the economy from which it imports the Traffic delays and road police checks while largest value (price times quantity) of auto parts. It is assumed each shipment is en route economy exports the product of its comparative advantage (de ned by the largest export value) to its natural export partner—the economy that is the largest purchaser of this product. Shipment value is assumed to be $50,000. - The mode of transport is the one most widely used for the chosen export or import product and the trading partner, as is the seaport, or land border crossing. - All electronic information submissions requested by any government agency in connection with the shipment are considered to be documents obtained, prepared and submitted during the export or import process. - A port or border is a place (seaport, airport or land border crossing) where merchandise can enter or leave an economy. - Relevant government agencies include customs, port authorities, road police, border guards, standardization agencies, ministries or departments of agriculture or industry, national security agencies and any other Page 46   government authorities. a corporate income tax audit and time to complete a corporate income tax audit. N/A = Not applicable. Doing Business 2018 Antigua and Barbuda Trading across Borders Doing Business records the time and cost associated with the logistical process of exporting and importing goods. Doing Business measures the time and cost (excluding tari s) associated with three sets of procedures—documentary compliance, border compliance and domestic transport—within the overall process of exporting or importing a shipment of goods. The most recent round of data collection for the project was completed in June 2017. See the methodology for more information. Given the importance of trade digitalization, in Doing Business 2018, the Trading across Borders questionnaire included research questions on the availability and status of implementation of Electronic Data Interchange (EDI) and Single Window (SW) systems. With this information, Doing Business built a comprehensive dataset on the adoption and level of sophistication of electronic platforms in 190 economies. These data are not used to compute the distance to frontier score or ranking of the ease of doing business. The new dataset on EDI and SW systems is available here. What the indicators measure Case study assumptions Documentary compliance To make the data comparable across economies, a few assumptions are made about the traded goods and the transactions: Obtaining, preparing and submitting documents during transport, clearance, inspections and port Time: Time is measured in hours, and 1 day is 24 hours (for example, 22 or border handling in origin economy days are recorded as 22×24=528 hours). If customs clearance takes 7.5 Obtaining, preparing and submitting documents hours, the data are recorded as is. Alternatively, suppose documents are required by destination economy and any transit submitted to a customs agency at 8:00a.m., are processed overnight and economies can be picked up at 8:00a.m. the next day. The time for customs clearance Covers all documents required by law and in would be recorded as 24 hours because the actual procedure took 24 practice, including electronic submissions of hours. information Border compliance Cost: Insurance cost and informal payments for which no receipt is issued are excluded from the costs recorded. Costs are reported in U.S. dollars. Customs clearance and inspections Contributors are asked to convert local currency into U.S. dollars based on Inspections by other agencies (if applied to more the exchange rate prevailing on the day they answer the questionnaire. than 20% of shipments) Contributors are private sector experts in international trade logistics and Handling and inspections that take place at the are informed about exchange rates. economy’s port or border Assumptions of the case study: - For all 190 economies covered by Doing Domestic transport Business, it is assumed a shipment is in a warehouse in the largest Loading or unloading of the shipment at the business city of the exporting economy and travels to a warehouse in the warehouse or port/border largest business city of the importing economy. - It is assumed each Transport between warehouse and port/border economy imports 15 metric tons of containerized auto parts (HS 8708) from its natural import partner—the economy from which it imports the Traffic delays and road police checks while largest value (price times quantity) of auto parts. It is assumed each shipment is en route economy exports the product of its comparative advantage (de ned by the largest export value) to its natural export partner—the economy that is the largest purchaser of this product. Shipment value is assumed to be $50,000. - The mode of transport is the one most widely used for the chosen export or import product and the trading partner, as is the seaport, or land border crossing. - All electronic information submissions requested by any government agency in connection with the shipment are considered to be documents obtained, prepared and submitted during the export or import process. - A port or border is a place (seaport, airport or land border crossing) where merchandise can enter or leave an economy. - Relevant government agencies include customs, port authorities, road police, border guards, standardization agencies, ministries or departments of agriculture or industry, national security agencies and any other government authorities. Page 47   of agriculture or industry, national security agencies and any other Doing Business 2018 Antigua and Barbuda government authorities. Antigua and Latin America & OECD high Indicator Barbuda Caribbean income Overall Best Performer Time to export: Border compliance (hours) 61 62.5 12.7 0 (17 Economies) Cost to export: Border compliance (USD) 546 526.5 149.9 0.00 (19 Economies) Time to export: Documentary compliance 51 53.3 2.4 1.0 (25 Economies) (hours) Cost to export: Documentary compliance (USD) 121 110.4 35.4 0.00 (19 Economies) Time to import: Border compliance (hours) 61 64.4 8.7 0.00 (21 Economies) Cost to import: Border compliance (USD) 546 684.0 111.6 0.00 (27 Economies) Time to import: Documentary compliance 48 79.9 3.5 1.0 (30 Economies) (hours) Cost to import: Documentary compliance (USD) 100 119.5 25.6 0.00 (30 Economies) Figure – Trading across Borders in Antigua and Barbuda and comparator economies – Ranking and DTF DB 2018 Distance to Frontier (DTF) 0 100 74.26: Dominica (Rank: 81) 68.73: Antigua and Barbuda (Rank: 101) 68.71: Regional Average (Latin America & Caribbean) 62.60: Trinidad and Tobago (Rank: 126) 61.54: Jamaica (Rank: 130) 61.52: Grenada (Rank: 131) Note: The ranking of economies on the ease of trading across borders is determined by sorting their distance to frontier scores for trading across borders. These scores are the simple average of the distance to frontier scores for the time and cost for documentary compliance and border compliance to export and import (domestic transport is not used for calculating the ranking). Figure – Trading across Borders in Antigua and Barbuda – Time and Cost Time Cost 70 600 546 546 61 61 60 500 51 50 48 400 Time (hours) Cost (USD) 40 300 30 200 20 121 100 10 100 0 0 Export - Border Compliance Export - Documentary Compliance Import - Border Compliance Import - Documentary CompliancePage 48   Doing Business 2018 Antigua and Barbuda Figure – Trading across Borders in Antigua and Barbuda – Time and Cost Time Cost 70 600 546 546 61 61 60 500 51 50 48 400 Time (hours) Cost (USD) 40 300 30 200 20 121 100 10 100 0 0 Export - Border Compliance Export - Documentary Compliance Import - Border Compliance Import - Documentary Compliance Details – Trading across Borders in Antigua and Barbuda Characteristics Export Import Product HS 22 : Beverages, spirits and vinegar HS 8708: Parts and accessories of motor vehicles Trade partner Canada United States Border St. John's port St. John's port Distance (km) 5 5 Domestic transport time (hours) 1 1 Domestic transport cost (USD) 210 210 Details – Trading across Borders in Antigua and Barbuda – Components of Border Compliance Time to Complete Associated Costs (hours) (USD) Export: Clearance and inspections required by customs authorities 57.0 220.0 Export: Clearance and inspections required by agencies other than customs 0.0 0.0 Export: Port or border handling 61.3 326.4 Import: Clearance and inspections required by customs authorities 57.0 220.0 Import: Clearance and inspections required by agencies other than customs 0.0 0.0 Import: Port or border handling 61.3 326.4 Details – Trading across Borders in Antigua and Barbuda – Trade Documents Export Import Acceptance order Bill of lading Bill of lading Commercial invoice/Shippers Invoice Page 49   Domestic transport cost (USD) 210 210 Doing Business 2018 Antigua and Barbuda Details – Trading across Borders in Antigua and Barbuda – Components of Border Compliance Time to Complete Associated Costs (hours) (USD) Export: Clearance and inspections required by customs authorities 57.0 220.0 Export: Clearance and inspections required by agencies other than customs 0.0 0.0 Export: Port or border handling 61.3 326.4 Import: Clearance and inspections required by customs authorities 57.0 220.0 Import: Clearance and inspections required by agencies other than customs 0.0 0.0 Import: Port or border handling 61.3 326.4 Details – Trading across Borders in Antigua and Barbuda – Trade Documents Export Import Acceptance order Bill of lading Bill of lading Commercial invoice/Shippers Invoice Commercial invoice Customs import declaration Customs Export Declaration Gate pass Packing list/ Manifest Packing list/manifest Certificate of Age and Origin SOLAS certificate SOLAS certificate Enforcing Contracts The enforcing contracts indicator measures the time and cost for resolving a commercial dispute through a local rst-instance court, and the quality of judicial processes index, evaluating whether each economy has adopted a series of good practices that promote quality and e ciency in the court system. The most recent round of data collection was completed in June 2017. See the methodology for more information. What the indicators measure Case study assumptions Time required to enforce a contract through the The dispute in the case study involves the breach of a sales contract courts (calendar days) between 2 domestic businesses. The case study assumes that the court hears an expert on the quality of the goods in dispute. This distinguishes Time to file and serve the case the case from simple debt enforcement. Time for trial and to obtain the judgment To make the data comparable across economies, Doing Business uses Time to enforce the judgment several assumptions about the case: Cost required to enforce a contract through the - The dispute concerns a lawful transaction between two businesses (Seller courts (% of claim) and Buyer), both located in the economy’s largest business city. For 11 Attorney fees economies the data are also collected for the second largest business city. - The buyer orders custom-made goods, then fails to pay. Court fees - The value of the dispute is 200% of the income per capita Page 50   or the Enforcement fees SOLAS certificate Doing Business 2018 Antigua and Barbuda Enforcing Contracts The enforcing contracts indicator measures the time and cost for resolving a commercial dispute through a local rst-instance court, and the quality of judicial processes index, evaluating whether each economy has adopted a series of good practices that promote quality and e ciency in the court system. The most recent round of data collection was completed in June 2017. See the methodology for more information. What the indicators measure Case study assumptions Time required to enforce a contract through the The dispute in the case study involves the breach of a sales contract courts (calendar days) between 2 domestic businesses. The case study assumes that the court hears an expert on the quality of the goods in dispute. This distinguishes Time to file and serve the case the case from simple debt enforcement. Time for trial and to obtain the judgment To make the data comparable across economies, Doing Business uses Time to enforce the judgment several assumptions about the case: Cost required to enforce a contract through the - The dispute concerns a lawful transaction between two businesses (Seller courts (% of claim) and Buyer), both located in the economy’s largest business city. For 11 Attorney fees economies the data are also collected for the second largest business city. - The buyer orders custom-made goods, then fails to pay. Court fees - The value of the dispute is 200% of the income per capita or the Enforcement fees equivalent in local currency of USD 5,000, whichever is greater. Quality of judicial processes index (0-18) - The seller sues the buyer before the court with jurisdiction over commercial cases worth 200% of income per capita or $5,000. Court structure and proceedings (-1-5) - The seller requests a pretrial attachment to secure the claim. Case management (0-6) - The dispute on the quality of the goods requires an expert opinion. Court automation (0-4) - The judge decides in favor of the seller; there is no appeal. Alternative dispute resolution (0-3) - The seller enforces the judgment through a public sale of the buyer’s movable assets. Standardized Case Claim value XCD 73,823.00 Court name Eastern Caribbean Supreme Court, St. John's High Court of Justice City Covered St. John's Antigua and Latin America & OECD high Indicator Barbuda Caribbean income Overall Best Performer Time (days) 476 767.1 577.8 164.00 (Singapore) Cost (% of claim value) 27.1 31.4 21.5 9.00 (Iceland) Quality of judicial processes index (0-18) 11.5 8.4 11.0 15.50 (Australia) Figure – Enforcing Contracts in Antigua and Barbuda and comparator economies – Ranking and DTF DB 2018 Distance to Frontier (DTF) 0 100 68.11: Antigua and Barbuda (Rank: 33) 59.33: Grenada (Rank: 76) 59.17: Dominica (Rank: 79) Page 51   of judicial processes Quality Business Doing index (0-18) 2018 Antigua and Barbuda 11.5 8.4 11.0 15.50 (Australia) Figure – Enforcing Contracts in Antigua and Barbuda and comparator economies – Ranking and DTF DB 2018 Distance to Frontier (DTF) 0 100 68.11: Antigua and Barbuda (Rank: 33) 59.33: Grenada (Rank: 76) 59.17: Dominica (Rank: 79) 53.13: Regional Average (Latin America & Caribbean) 51.87: Jamaica (Rank: 127) 35.62: Trinidad and Tobago (Rank: 173) Note: The ranking of economies on the ease of enforcing contracts is determined by sorting their distance to frontier scores for enforcing contracts. These scores are the simple average of the distance to frontier scores for each of the component indicators. Figure – Enforcing Contracts in Antigua and Barbuda – Time and Cost Time Cost 1600 60 1400 50.2 1340 50 Cost (% of claim value) 1200 36.0 40 Time (days) 1000 32.6 31.4 33.5 27.1 767.1 800 681 688 30 550 577.8 21.5 600 476 20 400 10 200 0 0 Antigua and Barbuda Dominica Grenada Jamaica Latin America & OECD high income Trinidad and Tobago Caribbean Figure – Enforcing Contracts in Antigua and Barbuda and comparator economies – Measure of Quality Antigua and Barbuda 2.5 3 1.5 4.5 Dominica 2.5 3 1.5 4.5 Grenada 2 3 1.5 4.5 Jamaica 2.5 1 0.5 4.5 Trinidad and Tobago 2.5 2 0.5 3 OECD high income 2.5 2.9 2 3.6 Latin America & Caribbean 2.4 2 0.9 3.5 0 2 4 6 8 10 12 Page 52   14 Antigua and Barbuda Dominica Grenada Jamaica Latin America & OECD high income Trinidad and Tobago Caribbean Doing Business 2018 Antigua and Barbuda Figure – Enforcing Contracts in Antigua and Barbuda and comparator economies – Measure of Quality Antigua and Barbuda 2.5 3 1.5 4.5 Dominica 2.5 3 1.5 4.5 Grenada 2 3 1.5 4.5 Jamaica 2.5 1 0.5 4.5 Trinidad and Tobago 2.5 2 0.5 3 OECD high income 2.5 2.9 2 3.6 Latin America & Caribbean 2.4 2 0.9 3.5 0 2 4 6 8 10 12 14 Sub-Indicator Score Alternative dispute resolution (0­3) Case management (0­6) Court automation (0­4) Court structure and proceedings (­1­5) Details – Enforcing Contracts in Antigua and Barbuda Indicator Time (days) 476 Filing and service 21 Trial and judgment 365 Enforcement of judgment 90 Cost (% of claim value) 27.1 Attorney fees 17.5 Court fees 7 Enforcement fees 2.6 Quality of judicial processes index (0-18) 11.5 Court structure and proceedings (-1-5) 4.5 Case management (0-6) 3.0 Court automation (0-4) 1.5 Alternative dispute resolution (0-3) 2.5 Details – Enforcing Contracts in Antigua and Barbuda – Measure of Quality Page 53   Alternative dispute resolution (0-3) 2.5 Doing Business 2018 Antigua and Barbuda Details – Enforcing Contracts in Antigua and Barbuda – Measure of Quality Answer Score Quality of judicial processes index (0-18) 11.5 Court structure and proceedings (-1-5) 4.5 1. Is there a court or division of a court dedicated solely to hearing commercial cases? Yes 1.5 2. Small claims court 1.5 2.a. Is there a small claims court or a fast-track procedure for small claims? Yes 2.b. If yes, is self-representation allowed? Yes 3. Is pretrial attachment available? Yes 1.0 4. Are new cases assigned randomly to judges? Yes, but manual 0.5 5. Does a woman's testimony carry the same evidentiary weight in court as a man's? Yes 0.0 Case management (0-6) 3.0 1. Time standards 1.0 1.a. Are there laws setting overall time standards for key court events in a civil case? Yes 1.b. If yes, are the time standards set for at least three court events? Yes 1.c. Are these time standards respected in more than 50% of cases? Yes 2. Adjournments 0.0 2.a. Does the law regulate the maximum number of adjournments that can be No granted? 2.b. Are adjournments limited to unforeseen and exceptional circumstances? No 2.c. If rules on adjournments exist, are they respected in more than 50% of cases? n.a. 3. Can two of the following four reports be generated about the competent court: (i) Yes 1.0 time to disposition report; (ii) clearance rate report; (iii) age of pending cases report; and (iv) single case progress report? 4. Is a pretrial conference among the case management techniques used before the Yes 1.0 competent court? 5. Are there any electronic case management tools in place within the competent court No 0.0 for use by judges? 6. Are there any electronic case management tools in place within the competent court No 0.0 for use by lawyers? Court automation (0-4) 1.5 1. Can the initial complaint be led electronically through a dedicated platform within No 0.0 the competent court? 2. Is it possible to carry out service of process electronically for claims led before the Yes 1.0 competent court? Page 54   1. Can the initial complaint be led electronically through a dedicated platform within No 0.0 Businesscourt? the competent Doing 2018 Antigua and Barbuda 2. Is it possible to carry out service of process electronically for claims led before the Yes 1.0 competent court? 3. Can court fees be paid electronically within the competent court? No 0.0 4. Publication of judgments 0.5 4.a Are judgments rendered in commercial cases at all levels made available to the No general public through publication in o cial gazettes, in newspapers or on the internet or court website? 4.b. Are judgments rendered in commercial cases at the appellate and supreme Yes court level made available to the general public through publication in o cial gazettes, in newspapers or on the internet or court website? Alternative dispute resolution (0-3) 2.5 1. Arbitration 1.5 1.a. Is domestic commercial arbitration governed by a consolidated law or Yes consolidated chapter or section of the applicable code of civil procedure encompassing substantially all its aspects? 1.b. Are there any commercial disputes—aside from those that deal with public No order or public policy—that cannot be submitted to arbitration? 1.c. Are valid arbitration clauses or agreements usually enforced by the courts? Yes 2. Mediation/Conciliation 1.0 2.a. Is voluntary mediation or conciliation available? Yes 2.b. Are mediation, conciliation or both governed by a consolidated law or Yes consolidated chapter or section of the applicable code of civil procedure encompassing substantially all their aspects? 2.c. Are there nancial incentives for parties to attempt mediation or conciliation (i.e., No if mediation or conciliation is successful, a refund of court ling fees, income tax credits or the like)? Resolving Insolvency Doing Business studies the time, cost and outcome of insolvency proceedings involving domestic legal entities. These variables are used to calculate the recovery rate, which is recorded as cents on the dollar recovered by secured creditors through reorganization, liquidation or debt enforcement (foreclosure or receivership) proceedings. To determine the present value of the amount recovered by creditors, Doing Business uses the lending rates from the International Monetary Fund, supplemented with data from central banks and the Economist Intelligence Unit. The most recent round of data collection for the project was completed in June 2017. See the methodology for more information. What the indicators measure Case study assumptions Time required to recover debt (years) To make the data on the time, cost and outcome comparable across economies, several assumptions about the business and the case are Measured in calendar years used: Appeals and requests for extension are included - A hotel located in the largest city (or cities) has 201 employees and 50 Cost required to recover debt (% of debtor’s estate) suppliers. The hotel experiences nancial di culties. Page 55   Measured as percentage of estate value - The value of the hotel is 100% of the income per capita or the equivalent if mediation or conciliation is successful, a refund of court ling fees, income tax credits or the like)? Doing Business 2018 Antigua and Barbuda Resolving Insolvency Doing Business studies the time, cost and outcome of insolvency proceedings involving domestic legal entities. These variables are used to calculate the recovery rate, which is recorded as cents on the dollar recovered by secured creditors through reorganization, liquidation or debt enforcement (foreclosure or receivership) proceedings. To determine the present value of the amount recovered by creditors, Doing Business uses the lending rates from the International Monetary Fund, supplemented with data from central banks and the Economist Intelligence Unit. The most recent round of data collection for the project was completed in June 2017. See the methodology for more information. What the indicators measure Case study assumptions Time required to recover debt (years) To make the data on the time, cost and outcome comparable across economies, several assumptions about the business and the case are Measured in calendar years used: Appeals and requests for extension are included - A hotel located in the largest city (or cities) has 201 employees and 50 Cost required to recover debt (% of debtor’s estate) suppliers. The hotel experiences nancial di culties. Measured as percentage of estate value - The value of the hotel is 100% of the income per capita or the equivalent Court fees in local currency of USD 200,000, whichever is greater. - The hotel has a loan from a domestic bank, secured by a mortgage over Fees of insolvency administrators the hotel’s real estate. The hotel cannot pay back the loan, but makes Lawyers’ fees enough money to operate otherwise. Assessors’ and auctioneers’ fees In addition, Doing Business evaluates the adequacy and integrity of the Other related fees existing legal framework applicable to liquidation and reorganization Outcome proceedings through the strength of insolvency framework index. The index tests whether economies adopted internationally accepted good Whether business continues operating as a going practices in four areas: commencement of proceedings, management of concern or business assets are sold piecemeal debtor’s assets, reorganization proceedings and creditor participation. Recovery rate for creditors Measures the cents on the dollar recovered by secured creditors Outcome for the business (survival or not) determines the maximum value that can be recovered Official costs of the insolvency proceedings are deducted Depreciation of furniture is taken into account Present value of debt recovered Strength of insolvency framework index (0- 16) Sum of the scores of four component indices: Commencement of proceedings index (0-3) Management of debtor’s assets index (0-6) Reorganization proceedings index (0-3) Creditor participation index (0-4) Antigua and Latin America & OECD high Indicator Barbuda Caribbean income Overall Best Performer Recovery rate (cents on the dollar) 36.5 30.8 71.2 93.1 (Norway) Time (years) 3.0 2.9 1.7 0.4 (Ireland) Page 56   Cost (% of estate) 7.0 16.8 9.1 1.00 (Norway) Creditor participation index (0-4) Doing Business 2018 Antigua and Barbuda Antigua and Latin America & OECD high Indicator Barbuda Caribbean income Overall Best Performer Recovery rate (cents on the dollar) 36.5 30.8 71.2 93.1 (Norway) Time (years) 3.0 2.9 1.7 0.4 (Ireland) Cost (% of estate) 7.0 16.8 9.1 1.00 (Norway) Outcome (0 as piecemeal sale and 1 as going 0 .. .. .. concern) Strength of insolvency framework index (0-16) 5.0 7.2 12.1 15.00 (6 Economies) Figure – Resolving Insolvency in Antigua and Barbuda and comparator economies – Ranking and DTF DB 2018 Distance to Frontier (DTF) 0 100 69.31: Jamaica (Rank: 35) 48.48: Trinidad and Tobago (Rank: 72) 38.95: Regional Average (Latin America & Caribbean) 35.26: Antigua and Barbuda (Rank: 128) 34.41: Dominica (Rank: 132) 0.00: Grenada (Rank: 168) Note: The ranking of economies on the ease of resolving insolvency is determined by sorting their distance to frontier scores for resolving insolvency. These scores are the simple average of the distance to frontier scores for the recovery rate and the strength of insolvency framework index. Figure – Resolving Insolvency in Antigua and Barbuda – Time and Cost Time Cost 4.5 30 4.0 4 25.0 25 3.5 3.0 2.9 Cost (% of estate) Time (years) 3 18.0 20 16.8 2.5 2.5 15 2 1.7 10.0 9.1 1.5 1.1 10 7.0 1 5 0.5 0 0 Antigua and Barbuda Dominica no practice Jamaica Latin America & OECD high income Trinidad and Tobago Grenada Caribbean Figure – Resolving Insolvency in Antigua and Barbuda and comparator economies – Measure of Quality Antigua and Barbuda 2 2 1 0 Page 57   Dominica 2 2 2 0 Antigua and Barbuda Dominica no practice Jamaica Latin America & OECD high income Trinidad and Tobago Grenada Caribbean Doing Business 2018 Antigua and Barbuda Figure – Resolving Insolvency in Antigua and Barbuda and comparator economies – Measure of Quality Antigua and Barbuda 2 2 1 0 Dominica 2 2 2 0 Grenada 4.5 2.5 3 1 Jamaica 4.5 2.5 3 1 Trinidad and Tobago 4.5 2.5 3 1 OECD high income 5.4 2.8 2.3 1.9 Latin America & Caribbean 3.7 2.4 1.9 0.8 0 2 4 6 8 10 12 14 Sub-Indicator Score Management of debtor's assets index (0­6) Commencement of proceedings index (0­3) Creditor participation index (0­4) Reorganization proceedings index (0­3) Figure – Resolving Insolvency in Antigua and Barbuda and comparator economies – Recovery Rate Recovery Rate (cents on the dollar) 70 64.9 60 50 40 36.5 29.1 30.8 30 26.2 20 10 0.0 0 Antigua and Barbuda Dominica Grenada Jamaica Trinidad and Tobago Latin America & Caribbean Details – Resolving Insolvency in Antigua and Barbuda Indicator Answer Explanation Proceeding liquidation BizBank would initiate foreclosure based on the security interest over the hotel property (after an while other creditors have the right to file petition to stay the proceeding and the Court attempt at could convert foreclosure into a collective insolvency proceeding. foreclosure) Outcome piecemeal sale No, the hotel will stop operating and Mirage assets will be sold piecemeal in a public auction conducted by the auctioneer appointed by the liquidator. Time (in years) 3.0 A foreclosure procedure that is then converted into liquidation until BizBank is repaid all or some of the money owed to it will approximately take 3 years in total. Cost (% of 7.0 The costs associated with the case would amount to approximately 7% of the value of the estate) debtor's estate. Cost incurred during the entire insolvency process mainly include court or Page 58   government agency fees, including costs of notification and publication (0.3%), attorney fees Antigua and Barbuda Dominica Grenada Jamaica Trinidad and Tobago Latin America & Caribbean Doing Business 2018 Antigua and Barbuda Details – Resolving Insolvency in Antigua and Barbuda Indicator Answer Explanation Proceeding liquidation BizBank would initiate foreclosure based on the security interest over the hotel property (after an while other creditors have the right to file petition to stay the proceeding and the Court attempt at could convert foreclosure into a collective insolvency proceeding. foreclosure) Outcome piecemeal sale No, the hotel will stop operating and Mirage assets will be sold piecemeal in a public auction conducted by the auctioneer appointed by the liquidator. Time (in years) 3.0 A foreclosure procedure that is then converted into liquidation until BizBank is repaid all or some of the money owed to it will approximately take 3 years in total. Cost (% of 7.0 The costs associated with the case would amount to approximately 7% of the value of the estate) debtor's estate. Cost incurred during the entire insolvency process mainly include court or government agency fees, including costs of notification and publication (0.3%), attorney fees (3%), insolvency representative fees (3%), fees of accountants, assessors, inspectors and other professionals (0,7%), Recovery rate (cents on the 36.5 dollar) Details – Resolving Insolvency in Antigua and Barbuda – Measure of Quality Answer Score Strength of insolvency framework index (0-16) 5.0 Commencement of proceedings index (0-3) 2.0 What procedures are available to a DEBTOR when commencing insolvency (b) Debtor may 0.5 proceedings? le for liquidation only Does the insolvency framework allow a CREDITOR to le for insolvency of the debtor? (b) Yes, but a 0.5 creditor may le for liquidation only What basis for commencement of the insolvency proceedings is allowed under the (c) Both (a) and 1.0 insolvency framework? (b) options are available, but only one of them needs to be complied with Management of debtor's assets index (0-6) 2.0 Does the insolvency framework allow the continuation of contracts supplying essential No 0.0 goods and services to the debtor? Does the insolvency framework allow the rejection by the debtor of overly burdensome Yes 1.0 contracts? Does the insolvency framework allow avoidance of preferential transactions? Yes 1.0 Page 59   dollar) Doing Business 2018 Antigua and Barbuda Details – Resolving Insolvency in Antigua and Barbuda – Measure of Quality Answer Score Strength of insolvency framework index (0-16) 5.0 Commencement of proceedings index (0-3) 2.0 What procedures are available to a DEBTOR when commencing insolvency (b) Debtor may 0.5 proceedings? le for liquidation only Does the insolvency framework allow a CREDITOR to le for insolvency of the debtor? (b) Yes, but a 0.5 creditor may le for liquidation only What basis for commencement of the insolvency proceedings is allowed under the (c) Both (a) and 1.0 insolvency framework? (b) options are available, but only one of them needs to be complied with Management of debtor's assets index (0-6) 2.0 Does the insolvency framework allow the continuation of contracts supplying essential No 0.0 goods and services to the debtor? Does the insolvency framework allow the rejection by the debtor of overly burdensome Yes 1.0 contracts? Does the insolvency framework allow avoidance of preferential transactions? Yes 1.0 Does the insolvency framework allow avoidance of undervalued transactions? No 0.0 Does the insolvency framework provide for the possibility of the debtor obtaining credit No 0.0 after commencement of insolvency proceedings? Does the insolvency framework assign priority to post-commencement credit? (c) No priority is 0.0 assigned to post- commencement creditors Reorganization proceedings index (0-3) 0.0 Which creditors vote on the proposed reorganization plan? N/A 0.0 Does the insolvency framework require that dissenting creditors in reorganization No 0.0 receive at least as much as what they would obtain in a liquidation? Are the creditors devided into classes for the purposes of voting on the reorganization No 0.0 plan, does each class vote separately and are creditors in the same class treated equally? Creditor participation index (0-4) 1.0 Does the insolvency framework require approval by the creditors for selection or Yes 1.0 appointment of the insolvency representative? Page 60   Creditor Doing participation Business 2018 index (0-4) Antigua and Barbuda 1.0 Does the insolvency framework require approval by the creditors for selection or Yes 1.0 appointment of the insolvency representative? Does the insolvency framework require approval by the creditors for sale of substantial No 0.0 assets of the debtor? Does the insolvency framework provide that a creditor has the right to request No 0.0 information from the insolvency representative? Does the insolvency framework provide that a creditor has the right to object to No 0.0 decisions accepting or rejecting creditors' claims? Note: Even if the economy’s legal framework includes provisions related to insolvency proceedings (liquidation or reorganization), the economy receives 0 points for the strength of insolvency framework index, if time, cost and outcome indicators are recorded as “no practice”. Labor Market Regulation Doing Business presents the data for the labor market regulation indicators in an annex. The report does not present rankings of economies on these indicators or include the topic in the aggregate distance to frontier score or ranking on the ease of doing business. Detailed data collected on labor market regulation are available on the Doing Business website (http://www.doingbusiness.org/data/exploretopics/labor-market-regulation). The most recent round of data collection was completed in June 2017. See the methodology for more information. Page 61   the economy receives 0 points for the strength of insolvency framework index, if time, cost and outcome indicators are recorded as “no practice”. Doing Business 2018 Antigua and Barbuda Labor Market Regulation Doing Business presents the data for the labor market regulation indicators in an annex. The report does not present rankings of economies on these indicators or include the topic in the aggregate distance to frontier score or ranking on the ease of doing business. Detailed data collected on labor market regulation are available on the Doing Business website (http://www.doingbusiness.org/data/exploretopics/labor-market-regulation). The most recent round of data collection was completed in June 2017. See the methodology for more information. What the indicators measure Case study assumptions Hiring To make the data comparable across economies, several assumptions (i) whether xed-term contracts are prohibited for about the worker and the business are used. permanent tasks; (ii) maximum cumulative duration of xed-term contracts; (iii) length of the The worker: probationary period; (iv) minimum wage. - Is a cashier in a supermarket or grocery store, age 19, with one year of work experience. Working hours - Is a full-time employee. (i) maximum number of working days allowed per - Is not a member of the labor union, unless membership is mandatory. week; (ii) premiums for work: at night, on a weekly rest day and overtime; (iii) whether there are The business: restrictions on work at night, work on a weekly rest - Is a limited liability company (or the equivalent in the economy). day and for overtime work; (iv) whether nonpregnant - Operates a supermarket or grocery store in the economy’s largest and nonnursing women can work same night hours business city. For 11 economies the data are also collected for the second as men; (v) length of paid annual leave. largest business city. - Has 60 employees. Redundancy rules - Is subject to collective bargaining agreements if such agreements cover (i) whether redundancy can be basis for terminating more than 50% of the food retail sector and they apply even to rms that workers; (ii) whether employer needs to notify are not party to them. and/or get approval from third party to terminate 1 - Abides by every law and regulation but does not grant workers more redundant worker and a group of 9 redundant bene ts than those mandated by law, regulation or (if applicable) collective workers; (iii) whether law requires employer to bargaining agreements. reassign or retrain a worker before making worker redundant; (iv) whether priority rules apply for redundancies and reemployment. Redundancy cost (i) notice period for redundancy dismissal; (ii) severance payments due when terminating a redundant worker. Job quality (i) whether law mandates equal remuneration for work of equal value and nondiscrimination based on gender in hiring; (ii) whether law mandates paid or unpaid maternity leave; (iii) length of paid maternity leave; (iv) whether employees on maternity leave receive 100% of wages; (v) availability of ve fully paid days of sick leave a year; (vi) eligibility requirements for unemployment protection. Details – Labor Market Regulation in Antigua and Barbuda Answer Hiring Page 62   Fixed-term contracts prohibited for permanent tasks? No days of sick leave a year; (vi) eligibility requirements for unemployment protection. Doing Business 2018 Antigua and Barbuda Details – Labor Market Regulation in Antigua and Barbuda Answer Hiring Fixed-term contracts prohibited for permanent tasks? No Maximum length of a single xed-term contract (months) No limit Maximum length of xed-term contracts, including renewals (months) No limit Minimum wage applicable to the worker assumed in the case study (US$/month) 604.9 Ratio of minimum wage to value added per worker 0.4 Maximum length of probationary period (months) 3.0 Working hours Standard workday 8.0 Maximum number of working days per week 6.0 Premium for night work (% of hourly pay) 0.0 Premium for work on weekly rest day (% of hourly pay) 0.0 Premium for overtime work (% of hourly pay) 50.0 Restrictions on night work? No Whether nonpregnant and nonnursing women can work the same night hours as men Yes Restrictions on weekly holiday? No Restrictions on overtime work? No Paid annual leave for a worker with 1 year of tenure (working days) 12.0 Paid annual leave for a worker with 5 years of tenure (working days) 12.0 Paid annual leave for a worker with 10 years of tenure (working days) 12.0 Paid annual leave (average for workers with 1, 5 and 10 years of tenure, in working days) 12.0 Redundancy rules Dismissal due to redundancy allowed by law? Yes Third-party noti cation if one worker is dismissed? No Third-party approval if one worker is dismissed? No Third-party noti cation if nine workers are dismissed? No Third-party approval if nine workers are dismissed? No Retraining or reassignment obligation before redundancy? Yes Page 63   Third-party Doing approval Business 2018 if nine workers Antigua are Barbuda and dismissed? No Retraining or reassignment obligation before redundancy? Yes Priority rules for redundancies? Yes Priority rules for reemployment? No Redundancy cost Notice period for redundancy dismissal for a worker with 1 year of tenure 1.7 Notice period for redundancy dismissal for a worker with 5 years of tenure 4.3 Notice period for redundancy dismissal for a worker with 10 years of tenure 4.3 Notice period for redundancy dismissal (average for workers with 1, 5 and 10 years of tenure) 3.4 Severance pay for redundancy dismissal for a worker with 1 year of tenure 2.4 Severance pay for redundancy dismissal for a worker with 5 years of tenure 12.0 Severance pay for redundancy dismissal for a worker with 10 years of tenure 24.0 Severance pay for redundancy dismissal (average for workers with 1, 5 and 10 years of tenure) 12.8 Job quality Equal remuneration for work of equal value? No Gender nondiscrimination in hiring? Yes Paid or unpaid maternity leave mandated by law? Yes Minimum length of maternity leave (calendar days)? 91.0 Receive 100% of wages on maternity leave? No Five fully paid days of sick leave a year? Yes Unemployment protection after one year of employment? No Minimum contribution period for unemployment protection (months)? n.a. Business Reforms in Antigua and Barbuda In the year ending June 1, 2017, 119 economies implemented 264 total reforms across the di erent areas measured by Doing Business. Doing Business has recorded more than 2,900 regulatory reforms making it easier to do business since 2004. Reforms inspired by Doing Business have been implemented by economies in all regions. The following are the reforms for Antigua and Barbuda implemented since Doing Business 2008. = Doing Business reform making it easier to do business. = Change making it more di cult to do business. DB2018 Registering Property: Antigua and Barbuda made property registration faster by eliminating application backlogs, which were initially caused by a re at the land registry DB2017 Trading across Borders: Antigua and Barbuda made trading across borders easier by eliminating the tax compliance certi cate required for import customs clearance. Page 64   Minimum contribution period for unemployment protection (months)? n.a. Doing Business 2018 Antigua and Barbuda Business Reforms in Antigua and Barbuda In the year ending June 1, 2017, 119 economies implemented 264 total reforms across the di erent areas measured by Doing Business. Doing Business has recorded more than 2,900 regulatory reforms making it easier to do business since 2004. Reforms inspired by Doing Business have been implemented by economies in all regions. The following are the reforms for Antigua and Barbuda implemented since Doing Business 2008. = Doing Business reform making it easier to do business. = Change making it more di cult to do business. DB2018 Registering Property: Antigua and Barbuda made property registration faster by eliminating application backlogs, which were initially caused by a re at the land registry DB2017 Trading across Borders: Antigua and Barbuda made trading across borders easier by eliminating the tax compliance certi cate required for import customs clearance. DB2013 Trading across Borders: Antigua and Barbuda made trading across borders more di cult by increasing the number of documents required to import. DB2011 Registering Property: In Antigua and Barbuda, to transfer property now requires clearance by the chief surveyor to avoid mischievous declarations. DB2009 Paying Taxes: Antigua and Barbuda made paying taxes less costly for companies by reducing the corporate income tax rate. DB2008 Paying Taxes: Antigua and Barbuda made paying taxes more complicated for companies by introducing a value added tax— though it also introduced a formal tax return form for ling corporate income taxes. Page 65   Paying Taxes: Antigua and Barbuda made paying taxes more complicated for companies by introducing a value added tax— Doingit though 2018 a formal also introduced Business tax return Antigua form for ling corporate income taxes. and Barbuda Page 66