DOING BUSINESS 2013 Smarter Regulations for Small and Medium-Size Enterprises 2011 2007 2004 2010 2008 2006 2013 COMPARING BUSINESS REGULATIONS FOR DOMESTIC FIRMS IN 185 ECONOMIES 10TH EDITION © 2013 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington, DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org Some rights reserved. 1 2 3 4 15 14 13 12 A copublication of The World Bank and the International Finance Corporation. This work is a product of the staff of The World Bank with external contributions. Note that The World Bank does not necessarily own each component of the content included in the work. The World Bank therefore does not warrant that the use of the content contained in the work will not infringe on the rights of third parties. The risk of claims resulting from such infringement rests solely with you. 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ISBN (paper): 978-0-8213-9615-5 ISBN (electronic): 978-0-8213-9624-7 DOI: 10.1596/978-0-8213-9615-5 ISSN: 1729-2638 Design and Layout: Corporate Visions, Inc. 2013 Smarter Regulations for Small and Medium-Size Enterprises COMPARING BUSINESS REGULATIONS FOR DOMESTIC FIRMS IN 185 ECONOMIES A COPUBLICATION OF THE WORLD BANK AND THE INTERNATIONAL FINANCE CORPORATION RESOURCES ON THE DOING BUSINESS WEBSITE Current features Doing Business reforms News on the Doing Business project Short summaries of DB2013 business regulation http://www.doingbusiness.org reforms, lists of reforms since DB2008 and a ranking simulation tool Rankings http://www.doingbusiness.org/reforms/ How economies rank—from 1 to 185 http://www.doingbusiness.org/rankings/ Historical data Customized data sets since DB2004 Data http://www.doingbusiness.org/custom-query/ All the data for 185 economies—topic rankings, indicator values, lists of regulatory procedures and Law library details underlying indicators Online collection of business laws http://www.doingbusiness.org/data/ and regulations relating to business and gender issues Reports http://www.doingbusiness.org/law-library/ Access to Doing Business reports as well as http://wbl.worldbank.org/ subnational and regional reports, reform case studies and customized economy and regional Contributors profiles More than 9,600 specialists in 185 economies http://www.doingbusiness.org/reports/ who participate in Doing Business http://www.doingbusiness.org/contributors/ Methodology doing-business/ The methodologies and research papers underlying Doing Business NEW! Entrepreneurship data http://www.doingbusiness.org/methodology/ Data on business density for 130 economies http://www.doingbusiness.org/data/exploretopics/ Research entrepreneurship/ Abstracts of papers on Doing Business topics and related policy issues More to come http://www.doingbusiness.org/research/ Coming soon—information on good practices and data on transparency and on the distance to frontier Contents v Preface 1 Executive summary 15 About Doing Business: measuring for impact Case studies 26 Colombia: sustaining reforms over time 32 Latvia: maintaining a reform state of mind 37 Rwanda: fostering prosperity by promoting entrepreneurship 42 APEC: sharing goals and experience 47 Does Doing Business matter for foreign direct investment? 51 How transparent is business regulation around the world? Topic notes 56 Starting a business 60 Dealing with construction permits 64 Getting electricity 68 Registering property 72 Getting credit Doing Business 2013 is the 10th in a 77 Protecting investors series of annual reports investigating 81 Paying taxes the regulations that enhance business 86 Trading across borders activity and those that constrain it. Doing Business presents quantitative indicators 90 Enforcing contracts on business regulations and the protection 94 Resolving insolvency of property rights that can be compared across 185 economies—from Afghanistan to Zimbabwe—and over time. 98 Annex: employing workers Regulations affecting 11 areas of the life 101 References of a business are covered: starting a busi- 106 Data notes ness, dealing with construction permits, getting electricity, registering property, 131 Ease of doing business and distance to frontier getting credit, protecting investors, paying 135 Summaries of Doing Business reforms in 2011/12 taxes, trading across borders, enforcing contracts, resolving insolvency and em- 145 Country tables ploying workers. The employing workers 207 Employing workers data data are not included in this year’s ranking on the ease of doing business. 216 Acknowledgments Data in Doing Business 2013 are current as of June 1, 2012. The indicators are used to analyze economic outcomes and identify what reforms of business regulation have worked, where and why. v Preface This is the 10th edition of the Doing Business report. First published in 2003 with 5 indicator sets measuring business regulation in 133 economies, the report has grown into an annual publication covering 11 indicator sets and 185 economies. In these 10 years Doing Business has recorded nearly 2,000 business regulation reforms in the ar- eas covered by the indicators. And researchers have produced well over 1,000 articles in peer-reviewed journals using the data published by Doing Business—work that helps explore many of the key development questions of our time. Doing Business 2013 holds new information to inspire policy makers and research- ers. One finding is that Poland improved the most in the Doing Business measures in 2011/12, while Singapore maintains its top spot in the overall ranking. Another finding is that European economies in fiscal distress are making efforts to improve the business climate, and this is beginning to be reflected in the indicators tracked by Doing Business, with Greece being among the 10 economies that improved the most in the Doing Business measures in the past year. Part of the solution to high debt is the recovery of economic growth, and there is broad recognition that creating a friendlier environment for entrepreneurs is central to this goal. But perhaps the most exciting finding is that of a steady march from 2003 to 2012 toward better business regulation across the wide range of economies included. With a handful of exceptions, every economy covered by Doing Business has narrowed the gap in business regulatory practice with the top global performance in the areas measured by the indicators. This is a welcome race to the top. Collecting the more than 57,000 unique Doing Business data points each year and placing them in a broader context of economic policy and development is a major undertaking. We thank the team and the Doing Business contributors for their efforts. Data collection and analysis for Doing Business 2013 were conducted through the Global Indicators and Analysis Department under the general direction of Augusto Lopez- Claros. The project was managed by Sylvia Solf and Rita Ramalho, with the support of Carolin Geginat and Adrian Gonzalez. Other team members included Beatriz Mejia Asserias, Andres Baquero Franco, Karim O. Belayachi, Iryna Bilotserkivska, Mariana Carvalho, Hayane Chang Dahmen, Rong Chen, Maya Choueiri, Dariga Chukmaitova, Santiago Croci Downes, Fernando Dancausa Diaz, Marie Lily Delion, Raian Divanbeigi, Alejandro Espinosa-Wang, Margherita Fabbri, Caroline Frontigny, Betina Hennig, Sarah Holmberg, Hussam Hussein, Joyce Ibrahim, Ludmila Jantuan, Nan Jiang, Hervé Kaddoura, Paweł Kopko, Jean Michel Lobet, Jean-Philippe Lodugnon-Harding, Frédéric Meunier, Robert Murillo, Joanna Nasr, Marie-Jeanne Ndiaye, Nuria de Oca, Mikiko Imai Ollison, Nina Paustian, Galina Rudenko, Valentina Saltane, Lucas Seabra, Paula Garcia Serna, Anastasia Shegay, Jayashree Srinivasan, Susanne Szymanski, Moussa Traoré, Tea Trumbic, Marina Turlakova, Julien Vilquin, Yasmin Zand and Yucheng Zheng. More than 9,600 lawyers and other professionals generously donated their time to provide the legal assessments that underpin the data. We thank in particular the global contributors: Advocates for International Development; Allen & Overy LLP; American vi DOING BUSINESS 2013 Bar Association, Section of International Law; Baker & McKenzie; Cleary Gottlieb Steen & Hamilton LLP; Ernst & Young; Ius Laboris, Alliance of Labor, Employment, Benefits and Pensions Law Firms; KPMG; the Law Society of England and Wales; Lex Mundi, Association of Independent Law Firms; Panalpina; PwC; Raposo Bernardo & Associados; Russell Bedford International; SDV International Logistics; and Security Cargo Network. The efforts of all these contributors help maintain the distinctive voice of Doing Business and its annual contribution to business regulation reform. Ten years marks a good time to take stock of where the world has moved in business regulatory practices and what challenges remain. We welcome you to give feedback on the Doing Business website (http://www.doingbusiness.org) and join the conversation as we shape the project in the years to come. Sincerely, Janamitra Devan Vice President and Head of Network Financial & Private Sector Development World Bank Group 1 Executive summary This 10th edition of the Doing Business And it highlights both the areas of busi- MAIN FINDINGS IN 2011/12 report marks a good time to take stock— ness regulation that have received the ƒ Worldwide, 108 economies to look at how far the world has come in most attention and those where more implemented 201 regulatory reforms business regulatory practices and what progress remains to be made. in 2011/12 making it easier to do challenges remain. In the first report one business as measured by Doing of the main findings was that low-income The report also reviews research on Business. economies had very cumbersome regula- which regulatory reforms have worked tory systems. Ten years later it is appar- and how. After 10 years of data tracking ƒ Poland improved the most in the ent that business regulatory practices in reforms and regulatory practices around ease of doing business, through these economies have been gradually but the world, more evidence is available to 4 reforms—making it easier to noticeably converging toward the more address these questions. The report sum- register property, pay taxes, enforce efficient practices common in higher- marizes just some of the main findings. contracts and resolve insolvency as Among the highlights: Smarter business measured by Doing Business. income economies (box 1.1). How much has the gap narrowed? Did some regions regulation supports economic growth. ƒ Eastern Europe and Central Asia close the regulatory gap more rapidly Simpler business registration promotes once again had the largest share of than others? This year’s report tells that greater entrepreneurship and firm pro- economies implementing regulatory story. It points to important trends in ductivity, while lower-cost registration reforms—88% of its economies regulatory reform and identifies the re- improves formal employment opportuni- reformed in at least one of the areas gions and economies making the biggest ties. An effective regulatory environment measured by Doing Business. improvements for local entrepreneurs. boosts trade performance. And sound ƒ European economies in fiscal distress are working to improve BOX 1.1 MAIN FINDINGS SINCE 2003 AND THE FIRST DOING BUSINESS REPORT the business climate, and this is • Over these 10 years 180 economies implemented close to 2,000 business regula- beginning to be reflected in the tory reforms as measured by Doing Business. indicators tracked by Doing Business. • Eastern Europe and Central Asia improved the most, overtaking East Asia and the Greece is one of the 10 most Pacific as the world’s second most business-friendly region according to Doing improved globally in 2011/12. Business indicators. OECD high-income economies continue to have the most business-friendly environment. ƒ Reform efforts globally have focused • Business regulatory practices have been slowly converging as economies with on making it easier to start a new initially poor performance narrow the gap with better performers. Among the 50 business, increasing the efficiency economies with the biggest improvements since 2005, the largest share—a third— of tax administration and facilitating are in Sub-Saharan Africa. trade across international borders. Of • Among the categories of business regulatory practices measured by Doing Business, the 201 regulatory reforms recorded there has been more convergence in those that relate to the complexity and cost in the past year, 44% focused on of regulatory processes (business start-up, property registration, construction per- mitting, electricity connections, tax payment and trade procedures) than in those these 3 policy areas alone. that relate to the strength of legal institutions (contract enforcement, insolvency regimes, credit information, legal rights of borrowers and lenders and the protection of minority shareholders). • Two-thirds of the nearly 2,000 reforms recorded by Doing Business were focused on reducing the complexity and cost of regulatory processes. • A growing body of research has traced out the effects of simpler business regulation on a range of economic outcomes, such as faster job growth and an accelerated pace of new business creation. 2 DOING BUSINESS 2013 financial market infrastructure—courts, resolving insolvency. Doing Business also relatively efficient regulatory processes creditor and insolvency laws, and credit documents regulations on employing but still lag in the strength of legal insti- and collateral registries—improves ac- workers, which are not included in this tutions relevant to business regulation. cess to credit (see the chapter “About year’s aggregate ranking or in the count Good practices around the world provide Doing Business”). of reforms. insights into how governments have improved the regulatory environment in The economies that rank highest on the the past in the areas measured by Doing WHAT ARE SMART RULES FOR ease of doing business are not those Business (see table 1.4 at the end of the BUSINESSES? where there is no regulation—but those executive summary). Just as good rules are needed to allow where governments have managed to traffic to flow in a city, they are also es- create rules that facilitate interactions sential to allow business transactions WHO NARROWED THE in the marketplace without needlessly to flow. Good business regulations REGULATORY GAP IN 2011/12? hindering the development of the private enable the private sector to thrive and sector. In essence, Doing Business is As reflected in the ranking on the ease of businesses to expand their transactions about SMART business regulations— doing business, the 10 economies with network. But regulations put in place to Streamlined, Meaningful, Adaptable, the most business-friendly regulation are safeguard economic activity and facilitate Relevant, Transparent—not necessarily Singapore; Hong Kong SAR, China; New business operations, if poorly designed, fewer regulations (see figure 2.1 in the Zealand; the United States; Denmark; can become obstacles to doing business. chapter “About Doing Business”). Norway; the United Kingdom; the They can be like traffic lights put up to Republic of Korea; Georgia; and Australia prevent gridlock—ineffective if a red light Doing Business encompasses 2 types of in- (table 1.1). Singapore tops the global rank- lasts for an hour. Most people would run dicators: indicators relating to the strength ing for the seventh consecutive year. the red light, just as most businesses of legal institutions relevant to business facing burdensome regulations will try to regulation and indicators relating to the A number 1 ranking on the ease of doing circumvent them to stay afloat. complexity and cost of regulatory processes. business does not mean that an economy Those in the first group focus on the legal ranks number 1 across all 10 regulatory Striking the right balance in business and regulatory framework for getting areas included in this aggregate measure. regulation can be a challenge. It becomes credit, protecting investors, enforcing Indeed, Singapore’s rankings range an even greater challenge in a changing contracts and resolving insolvency. Those from 1 in trading across borders to 36 in world, where regulations must continu- in the second focus on the cost and ef- registering property. Its top 3 rankings ally adapt to new realities. Just as traffic ficiency of regulatory processes for start- (on trading across borders, dealing with systems have to adjust when a new road ing a business, dealing with construction construction permits and protecting is being constructed, regulations need to permits, getting electricity, registering investors) average 2, while its lowest 3 adapt to new demands from the market property, paying taxes and trading across (on registering property, getting credit and to changes in technology (such borders. Based on time-and-motion case and enforcing contracts) average 20. as the growing use of information and studies from the perspective of the busi- Similarly, Guatemala’s top 3 (on getting communication technology in business ness, these indicators measure the proce- credit, registering property and getting processes). dures, time and cost required to complete electricity) average 22, and its bottom a transaction in accordance with relevant 3 (on paying taxes, protecting investors This challenge is one focus of this report. and starting a business) average 151. So regulations. (For a detailed explanation of Through indicators benchmarking 185 while the ease of doing business ranking the Doing Business methodology, see the economies, Doing Business measures is a useful aggregate measure, analysis data notes and the chapter “About Doing and tracks changes in the regulations Business.”) based on this measure should also take applying to domestic small and medium- into account the dispersion of regulatory size companies in 11 areas in their life Economies that rank high on the ease of efficiency across the areas measured by cycle. This year’s aggregate ranking on doing business tend to combine efficient Doing Business (figure 1.2). the ease of doing business is based on regulatory processes with strong legal in- indicator sets that measure and bench- stitutions that protect property and inves- In the past year 58% of economies cov- mark regulations affecting 10 of those tor rights (figure 1.1). OECD high-income ered by Doing Business implemented at areas: starting a business, dealing with economies have, by a large margin, the least 1 institutional or regulatory reform construction permits, getting electric- most business-friendly regulatory envi- making it easier to do business in the ar- ity, registering property, getting credit, ronment on both dimensions. Regions eas measured, and 23 undertook reforms protecting investors, paying taxes, trading such as East Asia and the Pacific and in 3 or more areas. Of these 23 econo- across borders, enforcing contracts and the Middle East and North Africa have mies, 10 stand out as having jumped EXECUTIVE SUMMARY 3 TABLE 1.1 Rankings on the ease of doing business DB2013 DB2013 DB2013 Rank Economy reforms Rank Economy reforms Rank Economy reforms 1 Singapore 0 63 Antigua and Barbuda 0 125 Honduras 0 2 Hong Kong SAR, China 0 64 Ghana 0 126 Bosnia and Herzegovina 2 3 New Zealand 1 65 Czech Republic 3 127 Ethiopia 1 4 United States 0 66 Bulgaria 1 128 Indonesia 1 5 Denmark 1 67 Azerbaijan 0 129 Bangladesh 1 6 Norway 2 68 Dominica 1 130 Brazil 1 7 United Kingdom 1 69 Trinidad and Tobago 2 131 Nigeria 0 8 Korea, Rep. 4 70 Kyrgyz Republic 0 132 India 1 9 Georgia 6 71 Turkey 2 133 Cambodia 1 10 Australia 1 72 Romania 2 134 Tanzania 1 11 Finland 0 73 Italy 2 135 West Bank and Gaza 1 12 Malaysia 2 74 Seychelles 0 136 Lesotho 2 13 Sweden 0 75 St. Vincent and the Grenadines 0 137 Ukraine 3 14 Iceland 0 76 Mongolia 3 138 Philippines 0 15 Ireland 2 77 Bahamas, The 0 139 Ecuador 0 16 Taiwan, China 2 78 Greece 3 140 Sierra Leone 2 17 Canada 1 79 Brunei Darussalam 2 141 Tajikistan 1 18 Thailand 2 80 Vanuatu 0 142 Madagascar 1 19 Mauritius 2 81 Sri Lanka 4 143 Sudan 0 20 Germany 2 82 Kuwait 0 144 Syrian Arab Republic 1 21 Estonia 0 83 Moldova 2 145 Iran, Islamic Rep. 1 22 Saudi Arabia 2 84 Croatia 1 146 Mozambique 0 23 Macedonia, FYR 1 85 Albania 2 147 Gambia, The 0 24 Japan 1 86 Serbia 3 148 Bhutan 0 25 Latvia 0 87 Namibia 1 149 Liberia 3 26 United Arab Emirates 3 88 Barbados 0 150 Micronesia, Fed. Sts. 0 27 Lithuania 2 89 Uruguay 2 151 Mali 1 28 Switzerland 0 90 Jamaica 2 152 Algeria 1 29 Austria 0 91 China 2 153 Burkina Faso 0 30 Portugal 3 92 Solomon Islands 0 154 Uzbekistan 4 31 Netherlands 4 93 Guatemala 1 155 Bolivia 0 32 Armenia 2 94 Zambia 1 156 Togo 1 33 Belgium 0 95 Maldives 0 157 Malawi 1 34 France 0 96 St. Kitts and Nevis 0 158 Comoros 2 35 Slovenia 3 97 Morocco 1 159 Burundi 4 36 Cyprus 1 98 Kosovo 2 160 São Tomé and Príncipe 0 37 Chile 0 99 Vietnam 1 161 Cameroon 1 38 Israel 1 100 Grenada 1 162 Equatorial Guinea 0 39 South Africa 1 101 Marshall Islands 0 163 Lao PDR 3 40 Qatar 1 102 Malta 0 164 Suriname 0 41 Puerto Rico (U.S.) 1 103 Paraguay 0 165 Iraq 0 42 Bahrain 0 104 Papua New Guinea 0 166 Senegal 0 43 Peru 2 105 Belize 1 167 Mauritania 0 44 Spain 2 106 Jordan 0 168 Afghanistan 0 45 Colombia 1 107 Pakistan 0 169 Timor-Leste 0 46 Slovak Republic 4 108 Nepal 0 170 Gabon 0 47 Oman 1 109 Egypt, Arab Rep. 0 171 Djibouti 0 48 Mexico 2 110 Costa Rica 4 172 Angola 1 49 Kazakhstan 3 111 Palau 0 173 Zimbabwe 0 50 Tunisia 0 112 Russian Federation 2 174 Haiti 0 51 Montenegro 2 113 El Salvador 1 175 Benin 4 52 Rwanda 2 114 Guyana 0 176 Niger 1 53 St. Lucia 0 115 Lebanon 0 177 Côte d’Ivoire 0 54 Hungary 3 116 Dominican Republic 0 178 Guinea 3 55 Poland 4 117 Kiribati 0 179 Guinea-Bissau 0 56 Luxembourg 0 118 Yemen, Rep. 0 180 Venezuela, RB 0 57 Samoa 0 119 Nicaragua 0 181 Congo, Dem. Rep. 1 58 Belarus 2 120 Uganda 1 182 Eritrea 0 59 Botswana 1 121 Kenya 1 183 Congo, Rep. 2 60 Fiji 1 122 Cape Verde 0 184 Chad 1 61 Panama 3 123 Swaziland 1 185 Central African Republic 0 62 Tonga 0 124 Argentina 0 Note: The rankings for all economies are benchmarked to June 2012 and reported in the country tables. This year’s rankings on the ease of doing business are the average of the economy’s percentile rankings on the 10 topics included in this year’s aggregate ranking. The number of reforms excludes those making it more difficult to do business. Source: Doing Business database. 4 DOING BUSINESS 2013 FIGURE 1.1 OECD high-income economies combine efficient regulatory processes with strong ahead the most in the relative ranking legal institutions (table 1.2). Others in this group advanced Average ranking on sets of Doing Business indicators less in the global ranking because they Stronger Stronger legal institutions but Stronger legal institutions and already ranked high. Two are Korea and more complex and expensive simpler and less expensive the Netherlands. Already among the regulatory processes regulatory processes Eastern Europe 29 top 35 in last year’s global ranking, both & Central Asia implemented regulatory reforms making Average ranking on ease OECD of doing business high income it easier to do business in 4 areas mea- 73 sured by Doing Business. Strength of legal institutions Size of bubble reflects number of economies Latin America Four of the 10 economies improving the East Asia & Caribbean & Pacific most in the ease of doing business are 97 86 South Asia in Eastern Europe and Central Asia—the 121 region that also had the largest number 98 Sub-Saharan Middle East of regulatory reforms per economy in the Africa & North Africa past year. Four of the 10 are lower-middle- 140 income economies; of the rest, 1 is low income, 3 are upper middle income and 2 are high income. And for the first time Weaker legal institutions and Weaker legal institutions but more complex and expensive simpler and less expensive in 7 years, a South Asian economy—Sri Weaker regulatory processes regulatory processes Lanka—ranks among those improving the Complex and Complexity and cost Simple and most in the ease of doing business. expensive of regulatory processes inexpensive Note: Strength of legal institutions refers to the average ranking on getting credit, protecting investors, enforcing contracts and Eight of the 10 economies made it resolving insolvency. Complexity and cost of regulatory processes refers to the average ranking on starting a business, dealing with construction permits, getting electricity, registering property, paying taxes and trading across borders. easier to start a business. Kazakhstan, Source: Doing Business database. Mongolia and Ukraine reduced or elimi- nated the minimum capital requirement TABLE 1.2 The 10 economies improving the most across 3 or more areas measured by Doing Business in 2011/12 Reforms making it easier to do business Ease of Dealing doing with Trading business Starting a construction Getting Registering Getting Protecting Paying across Enforcing Resolving Economy rank business permits electricity property credit investors taxes borders contracts insolvency 1 Poland 55 ✔ ✔ ✔ ✔ 2 Sri Lanka 81 ✔ ✔ ✔ ✔ 2 Ukraine 137 ✔ ✔ ✔ 4 Uzbekistan 154 ✔ ✔ ✔ ✔ 5 Burundi 159 ✔ ✔ ✔ ✔ 6 Costa Rica 110 ✔ ✔ ✔ ✔ 6 Mongolia 76 ✔ ✔ ✔ 8 Greece 78 ✔ ✔ ✔ 9 Serbia 86 ✔ ✔ ✔ 10 Kazakhstan 49 ✔ ✔ ✔ Note: Economies are ranked on the number of their reforms and on how much they improved in the ease of doing business ranking. First, Doing Business selects the economies that implemented reforms making it easier to do business in 3 or more of the 10 topics included in this year’s aggregate ranking. Regulatory reforms making it more difficult to do business are subtracted from the number of those making it easier to do business. Second, Doing Business ranks these economies on the increase in their ranking on the ease of doing business from the previous year. The increase in economy rankings is not calculated using the published ranking of last year but by using a comparable ranking for DB2012 that captures the effects of other factors, such as the inclusion this year of 2 new economies in the sample, Barbados and Malta. The choice of the most improved economies is determined by the largest improvement in rankings, among those economies with at least 3 reforms. Source: Doing Business database. EXECUTIVE SUMMARY 5 FIGURE 1.2 An economy’s regulatory environment may be more business-friendly in some areas than in others Average ranking 180 Average of lowest 3 topic rankings 160 Average of 140 all topic rankings Average of 120 highest 3 topic rankings 100 80 60 40 20 0 KOREA, REP. EGYPT, ARAB REP. SINGAPORE NEW ZEALAND UNITED STATES GEORGIA AUSTRALIA ICELAND TAIWAN, CHINA MAURITIUS ESTONIA GERMANY SAUDI ARABIA SWITZERLAND LATVIA JAPAN NETHERLANDS SLOVENIA BELGIUM BAHRAIN ARMENIA OMAN PERU RWANDA ISRAEL SLOVAK REPUBLIC MEXICO LUXEMBOURG HUNGARY BELARUS MONTENEGRO FIJI ST. VINCENT AND THE GRENADINES TURKEY GHANA SEYCHELLES MONGOLIA CZECH REPUBLIC KYRGYZ REPUBLIC VANUATU ITALY KUWAIT BARBADOS MARSHALL ISLANDS NAMIBIA SOLOMON ISLANDS MOLDOVA ST. KITTS AND NEVIS GUATEMALA URUGUAY VIETNAM JORDAN BELIZE MALTA NEPAL LEBANON PALAU GUYANA KIRIBATI ETHIOPIA NICARAGUA INDONESIA UGANDA ARGENTINA BANGLADESH PHILIPPINES NIGERIA BHUTAN ECUADOR UKRAINE TAJIKISTAN GAMBIA, THE SUDAN SYRIAN ARAB REPUBLIC SIERRA LEONE BURKINA FASO IRAQ TIMOR-LESTE COMOROS MALAWI BURUNDI ALGERIA MAURITANIA TOGO SENEGAL DJIBOUTI ANGOLA NIGER CÔTE D’IVOIRE ERITREA CHAD CENTRAL AFRICAN REPUBLIC Note: Rankings reflected are those on the 10 Doing Business topics included in this year’s aggregate ranking on the ease of doing business. Figure is for illustrative purposes only; it does not include all 185 economies covered by this year’s report. See the country tables for rankings on the ease of doing business and each Doing Business topic for all economies. Source: Doing Business database. for company incorporation. Sri Lanka by updating the documentation require- Business—improving its regulatory en- computerized and expedited the process ments for bankruptcy filings. vironment at a greater pace in the past for registering employees. Burundi elimi- year than in any of the previous 6. It made Four economies made it easier to register nated 3 requirements: to have company construction permitting faster by trans- property. Poland increased efficiency in documents notarized, to publish informa- ferring the planning approval process processing property registration applica- tion on new companies in a journal and to from the municipality to certified private tions through a series of initiatives in register new companies with the Ministry recent years. These included creating 2 professionals, strengthened investor pro- of Trade and Industry. new registration districts in Warsaw and, tections by requiring greater disclosure in the past year, introducing a new case- and introduced a new prebankruptcy re- Five of the 10 made it easier to resolve in- habilitation procedure aimed at enhanc- load management system for the land solvency, and 2 of these also strengthened ing the rescue of distressed companies. and mortgage registries and continuing their systems for enforcing contracts. to digitize their records. Serbia strengthened its insolvency pro- Costa Rica, the only economy in Latin cess by introducing private bailiffs, pro- Five economies improved in the area of America and the Caribbean in the group hibiting appeals of the court’s decision on getting credit. Costa Rica, Mongolia and of 10, implemented regulatory changes the proposal for enforcement, expediting Uzbekistan guaranteed borrowers’ right in 4 areas measured by Doing Business. service of process and adopting a public to inspect their personal credit data. Sri It introduced a risk-based approach for electronic registry for injunctions. The Lanka established a searchable electronic granting sanitary approvals for business new private bailiff system also increased collateral registry and issued regulations start-ups and established online approval for its operation. Kazakhstan strength- efficiency in enforcing contracts. Poland systems for the construction permitting ened the rights of secured creditors in introduced a new civil procedure code process. Costa Rica also guaranteed insolvency proceedings. that, along with an increase in the num- borrowers’ right to inspect their personal ber of judges, reduced the time required Greece, driven in part by its economic data and made paying taxes easier for to enforce a commercial contract. Poland crisis, implemented regulatory re- local companies by implementing elec- also made it easier to resolve insolvency, forms in 3 areas measured by Doing tronic payments for municipal taxes. 6 DOING BUSINESS 2013 While these 10 economies improved economies registering improvements, over time by showing the distance of each the most in the ease of doing business, with 88% of economies implementing at economy to the “frontier,” which repre- they were far from alone in introducing least 1 institutional or regulatory reform sents the best performance observed improvements in the areas measured making it easier to do business and 67% on each of the Doing Business indicators by Doing Business in 2011/12. A total implementing at least 2 (figure 1.3). across all economies and years included of 108 economies did so, through 201 This region has been consistently active since 2005. The measure is normalized institutional and regulatory reforms. through all the years covered by Doing to range between 0 and 100, with 100 And in the years since the first report Business, implementing 397 institutional representing the frontier. A higher score was published in 2003, 180 of the 185 and regulatory reforms since 2005. At therefore indicates a more efficient busi- economies covered by Doing Business least some of this regulatory reform push ness regulatory system (for a detailed made improvements in at least one of reflects efforts by economies joining the description of the methodology, see the these areas—through nearly 2,000 such European Union in 2004 to continue to chapter on the ease of doing business and reforms in total. narrow the gap in regulatory efficiency distance to frontier). with established EU members—as well In 2011/12 starting a business was again Analysis based on the distance to frontier as similar efforts among economies now the area with the most regulatory reforms. measure shows that the burden of regula- engaged in EU accession negotiations. In the past 8 years the start-up process tion has declined since 2005 in the areas received more attention from policy mak- measured by Doing Business. On average WHO HAS NARROWED THE the 174 economies covered by Doing ers than any other area of business regu- GAP OVER THE LONG RUN? Business since that year are today closer lation tracked by Doing Business—through 368 reforms in 149 economies. These To complement the ease of doing busi- to the frontier in regulatory practice (fig- worldwide efforts reduced the average ness ranking, a relative measure, last ure 1.4). In 2005 these economies were time to start a business from 50 days year’s Doing Business report introduced 46 percentage points from the frontier to 30 and the average cost from 89% of the distance to frontier, an absolute mea- on average, with the closest economy 10 income per capita to 31%. sure of business regulatory efficiency. percentage points away and the furthest This measure aids in assessing how much one 74 percentage points away. Now In the past year Eastern Europe and Central the regulatory environment for local en- these 174 economies are 40 percentage Asia once again had the largest share of trepreneurs improves in absolute terms points from the frontier on average, with FIGURE 1.4 Almost all economies are closer to the frontier in regulatory practice today than they were in 2005 Distance to frontier (percentage points) 100 90 80 70 60 50 40 30 0 KOREA, REP. SINGAPORE NEW ZEALAND UNITED STATES HONG KONG SAR, CHINA IRELAND CANADA UNITED KINGDOM NORWAY DENMARK FINLAND AUSTRALIA SWEDEN GERMANY ICELAND JAPAN AUSTRIA NETHERLANDS ESTONIA SWITZERLAND BELGIUM LITHUANIA MALAYSIA SPAIN ISRAEL SOUTH AFRICA LATVIA PUERTO RICO (U.S.) TAIWAN, CHINA THAILAND FIJI PORTUGAL CHILE SLOVAK REPUBLIC ITALY UNITED ARAB EMIRATES ST. LUCIA FRANCE MAURITIUS HUNGARY MEXICO NAMIBIA TONGA PANAMA ANTIGUA AND BARBUDA OMAN BOTSWANA DOMINICA SAUDI ARABIA SEYCHELLES BULGARIA PERU JAMAICA BELIZE SLOVENIA ROMANIA TUNISIA KUWAIT MONGOLIA SAMOA ST. VINCENT AND THE GRENADINES TURKEY VANUATU ARMENIA MALDIVES CZECH REPUBLIC GRENADA PAKISTAN MACEDONIA, FYR POLAND TRINIDAD AND TOBAGO GUYANA ST. KITTS AND NEVIS KIRIBATI VIETNAM MOLDOVA KENYA GREECE LEBANON COLOMBIA SRI LANKA NEPAL GHANA EL SALVADOR PALAU SWAZILAND PAPUA NEW GUINEA Note: The distance to frontier measure shows how far on average an economy is from the best performance achieved by any economy on each Doing Business indicator since 2005. The measure is normalized to range between 0 and 100, with 100 representing the best performance (the frontier). The data refer to the 174 economies included in Doing Business 2006 (2005). Eleven economies were added in subsequent years. Source: Doing Business database. EXECUTIVE SUMMARY 7 FIGURE 1.3 Eastern Europe and Central Asia had the largest share of economies reforming reforms on average—and those in East business regulation in 2011/12 Asia and the Pacific, Latin America and Share of economies with at least 2 Doing Business reforms making it easier the Caribbean and South Asia about 8. to do business (%) With its faster pace of improvement, 100 100 98 Eastern Europe and Central Asia overtook 89 88 88 88 East Asia and the Pacific as the second most business-friendly region according 67 to Doing Business indicators. But the variation within regions is large. 45 In Latin America and the Caribbean, for 29 example, Colombia implemented 25 21 22 institutional and regulatory reforms in the 11 13 past 8 years, while Suriname had none. In Middle East South Latin America Sub-Saharan East Asia OECD Eastern Europe East Asia and the Pacific, Vietnam imple- & North Africa Asia & Caribbean Africa & Pacific high income & Central Asia mented 18 reforms, and Kiribati none. Q2004–12 Q2011/12 In a few economies (such as República Source: Doing Business database. Bolivariana de Venezuela and Zimbabwe) the business environment deteriorated the closest economy 8 percentage points Europe and Central Asia has done so the as measures added to the complexity away and the furthest economy 69 per- most, thanks to about 17 institutional and cost of regulatory processes or centage points away. and regulatory reforms per economy undermined property rights and investor since 2005 (figure 1.5). Economies in protections. Within the European Union, OECD high-income economies are clos- the Middle East and North Africa and 4 Southern European economies have est to the frontier on average. But other Sub-Saharan Africa have implemented recently accelerated regulatory reform regions are narrowing the gap. Eastern more than 9 institutional and regulatory efforts (box 1.2). 2012 2005 IRAN, ISLAMIC REP. YEMEN, REP. MICRONESIA, FED. STS. EGYPT, ARAB REP. CONGO, REP. CONGO, DEM. REP. ZAMBIA SERBIA MOROCCO ARGENTINA SOLOMON ISLANDS PARAGUAY DOMINICAN REPUBLIC MARSHALL ISLANDS RUSSIAN FEDERATION ECUADOR NICARAGUA KAZAKHSTAN HONDURAS JORDAN URUGUAY ALBANIA CAPE VERDE BANGLADESH CROATIA GUATEMALA PHILIPPINES BOSNIA AND HERZEGOVINA COSTA RICA AZERBAIJAN TANZANIA GEORGIA WEST BANK AND GAZA ETHIOPIA UGANDA GABON LESOTHO INDONESIA ALGERIA GAMBIA, THE SUDAN BRAZIL BOLIVIA KYRGYZ REPUBLIC CHINA BHUTAN MALAWI NIGERIA IRAQ SYRIAN ARAB REPUBLIC BELARUS MOZAMBIQUE MADAGASCAR ZIMBABWE UKRAINE INDIA VENEZUELA, RB COMOROS CAMBODIA SURINAME UZBEKISTAN CAMEROON SIERRA LEONE DJIBOUTI RWANDA EQUATORIAL GUINEA BENIN LAO PDR SENEGAL SÃO TOMÉ AND PRÍNCIPE HAITI TOGO CÔTE D’IVOIRE GUINEA MAURITANIA MALI ANGOLA BURUNDI GUINEA-BISSAU NIGER TAJIKISTAN AFGHANISTAN BURKINA FASO CENTRAL AFRICAN REPUBLIC TIMOR-LESTE ERITREA CHAD 8 DOING BUSINESS 2013 FIGURE 1.5 Doing business is easier today than in 2005, particularly in Eastern Europe and Central Improvements happened across all regu- Asia and Sub-Saharan Africa latory areas measured by Doing Business Average distance to frontier (percentage points) between 2005 and 2012. But govern- ments were more likely to focus their 100 reform efforts on reducing the complex- OECD high income ity and cost of regulatory processes—the 75 focus of 1,227 reforms recorded by Doing 70 Business since 2005—than on strength- Gap between OECD high-income economies and rest of the world Eastern Europe 65 & Central Asia ening legal institutions—the focus of East Asia & Pacific close to 600 (figure 1.6). 60 Latin America & Caribbean Middle East & North Africa 55 Improving business regulation is a chal- South Asia lenging task, and doing it consistently 50 Sub-Saharan Africa over time even more so. Yet some econo- 45 mies have achieved considerable success since 2005 in doing just that (table 1.3). A 40 few of these economies stand out within 0 their region: Georgia, Rwanda, Colombia, 2005 2006 2007 2008 2009 2010 2011 2012 China and Poland. Note: The distance to frontier measure shows how far on average an economy is from the best performance achieved by any Georgia is the top improver since 2005 economy on each Doing Business indicator since 2005. The measure is normalized to range between 0 and 100, with 100 representing the best performance (the frontier). The data refer to the 174 economies included in Doing Business 2006 (2005) both in Eastern Europe and Central Asia and to the regional classifications that apply in 2012. Eleven economies were added in subsequent years. and globally. With 35 institutional and Source: Doing Business database. regulatory reforms since 2005, Georgia has improved in all areas measured by Doing Business. In the past year alone it improved in 6 areas. As just one example, FIGURE 1.6 Globally, reform efforts have focused more on reducing the complexity and cost Georgia made trading across borders of regulatory processes than on strengthening legal institutions easier by introducing customs clearance Average distance to frontier (percentage points) zones in such cities as Tbilisi and Poti. These one-stop shops for trade clearance 100 processes are open all day every day, 80 allowing traders to submit customs docu- 70 Strength of legal institutions ments and complete other formalities in a single place. Georgia also strengthened 60 its secured transactions system. A new 50 amendment to its civil code allows a se- 40 curity interest to extend to the products, Complexity and cost of regulatory processes 30 proceeds and replacements of an asset used as collateral. 0 Georgia has also distinguished itself by Dealing Starting a Registering Paying Trading Enforcing Protecting Getting Resolving with business property taxes across contracts investors credit insolvency following a relatively balanced regulatory construction borders reform path. Many economies aiming to permits 2012 improve their regulatory environment 2005 start by reducing the complexity and cost of regulatory processes (in such areas as Note: Figure illustrates the extent to which average regulatory practice across economies has moved closer to the most efficient practice in each area measured by Doing Business. The distance to frontier measure shows how far on average an starting a business). Later they may move economy is from the best performance achieved by any economy on each Doing Business indicator since 2005. The measure is on to reforms strengthening legal institu- normalized to range between 0 and 100, with 100 representing the best performance (the frontier). The data refer to the 174 economies included in Doing Business 2006 (2005). Eleven economies were added in subsequent years. tions relevant to business regulation Source: Doing Business database. (in such areas as getting credit). These tend to be a bigger challenge, sometimes requiring amendments to key pieces of legislation rather than simply changes in EXECUTIVE SUMMARY 9 TABLE 1.3 The 50 economies narrowing BOX 1.2 FISCAL IMBALANCES AND REGULATORY REFORM IN SOUTHERN EUROPE the distance to frontier the most The 2008–09 global financial crisis contributed to rapid increases in public debt lev- since 2005 els among high-income economies. The recession depressed tax revenues and forced Improvement governments to increase spending to ease the effects of the crisis. Governments used (percentage public sector stimulus to cushion the impact of the sharp contraction in output, and Rank Economy Region points) 1 Georgia ECA 31.6 many were also forced to intervene to strengthen the balance sheets of commercial 2 Rwanda SSA 26.5 banks and prop up industries struck particularly hard by the crisis. The fiscal deteriora- 3 Belarus ECA 23.5 tion in the context of weak global demand contributed to greater risk aversion among 4 Burkina Faso SSA 18.5 investors, complicating fiscal management in many economies, particularly those with 5 Macedonia, FYR ECA 17.4 already high debt levels or rapidly growing deficits. 6 Egypt, Arab Rep. MENA 16.3 Greece, Italy, Portugal and Spain were among those most affected by the crisis and 7 Mali SSA 15.8 associated market pressures. Aware that the resumption of economic growth would be 8 Colombia LAC 15.3 key to returning to a sustainable fiscal position, authorities in these economies moved 9 Tajikistan ECA 15.2 to implement broad-ranging reforms. 10 Kyrgyz Republic ECA 14.8 11 Sierra Leone SSA 14.7 Business regulation reforms were an integral part of these plans, as reflected in the 12 China EAP 14.3 Doing Business data. While Greece is among the 10 economies with the biggest im- 13 Azerbaijan ECA 12.9 provements in the ease of doing business in the past year, the other 3 economies also 14 Croatia ECA 12.8 made important strides. Italy made it easier to get an electricity connection and to 15 Ghana SSA 12.7 register property. Portugal simplified the process for construction permitting, for im- 16 Burundi SSA 12.6 porting and exporting and for resolving insolvency. Spain made trading across borders 17 Poland OECD 12.3 simpler and amended its bankruptcy law. All 4 economies reformed or are also in the 18 Guinea-Bissau SSA 12.2 process of reforming their labor laws with the aim of making their labor market more 19 Armenia ECA 12.2 flexible. 20 Ukraine ECA 12.0 Doing Business reforms are not new to these economies. Since 2004, Portugal has 21 Kazakhstan ECA 11.9 implemented 25, Spain and Greece 17, and Italy 14 institutional or regulatory reforms. 22 Senegal SSA 11.5 23 Cambodia EAP 11.1 The impact of these reforms has helped these 4 economies narrow the business regu- 24 Angola SSA 11.0 latory gap with the best performers in the European Union (see figure). 25 Mauritius SSA 10.9 26 Saudi Arabia MENA 10.7 In Southern Europe, an acceleration in the pace of regulatory reform 27 India SAS 10.6 28 Guatemala LAC 10.4 Distance to frontier (percentage points) 29 Madagascar SSA 10.3 100 30 Morocco MENA 10.1 Top 10 31 Yemen, Rep. MENA 10.1 80 in EU-27 32 Peru LAC 10.1 Gap between top 10 and Southern European economies Portugal 33 Mozambique SSA 10.0 Spain 34 Czech Republic OECD 9.8 70 Italy 35 Timor-Leste EAP 9.7 36 Côte d’Ivoire SSA 9.5 Greece 60 37 Togo SSA 9.5 38 Slovenia OECD 9.5 39 Mexico LAC 9.4 50 40 Niger SSA 9.4 0 41 Nigeria SSA 9.0 2005 2006 2007 2008 2009 2010 2011 2012 42 Portugal OECD 9.0 Note: The distance to frontier measure shows how far on average an economy is from the best performance 43 Solomon Islands EAP 8.9 achieved by any economy on each Doing Business indicator since 2005. The measure is normalized to range 44 Uruguay LAC 8.8 between 0 and 100, with 100 representing the best performance (the frontier). The top 10 in EU-27 are the 10 45 Dominican Republic LAC 8.8 economies closest to the frontier among current members of the European Union. 46 Taiwan, China EAP 8.8 Source: Doing Business database. 47 São Tomé and SSA 8.7 Príncipe 48 France OECD 8.6 Bosnia and administrative procedures. Georgia has Rwanda, the number 2 improver globally 49 Herzegovina ECA 8.4 followed this pattern, focusing initially on and top improver in Sub-Saharan Africa 50 Albania ECA 8.3 Note: Rankings are based on the absolute difference for each reducing the complexity and cost of regu- since 2005, has reduced the gap with economy between its distance to frontier in 2005 and that latory processes and later on strengthen- the frontier by almost half. To highlight in 2012. The data refer to the 174 economies included in Doing Business 2006 (2005). Eleven economies were added ing legal institutions. But among a group key lessons emerging from Rwanda’s sus- in subsequent years. The distance to frontier measure shows how far on average an economy is from the best performance of 5 top regional improvers, Georgia has tained efforts, this year’s report features achieved by any economy on each Doing Business indicator improved the most along both dimen- a case study of its reform process. But since 2005. The measure is normalized to range between 0 and 100, with 100 representing the best performance (the frontier). sions (figure 1.7). Rwanda is far from alone in the region: EAP = East Asia and the Pacific; ECA = Eastern Europe and of the 50 economies advancing the most Central Asia; LAC = Latin America and the Caribbean; MENA = Middle East and North Africa; OECD = OECD high income; SAS = South Asia; SSA = Sub-Saharan Africa. Source: Doing Business database. 10 DOING BUSINESS 2013 toward the frontier since 2005, 17 are in FIGURE 1.7 Different economies have followed a variety of regulatory reform paths Sub-Saharan Africa. Average distance to frontier in sets of Doing Business indicators (percentage points) Worldwide, economies at all income lev- Stronger 100 els are narrowing the gap with the frontier on average—but low-income economies 90 Singapore more so than high-income ones. This is an important achievement. Indeed, while 80 business regulatory practices in all lower- Strength of legal institutions income groups are converging toward 70 2012 those in high-income economies on Poland average, low-income economies have re- Colombia Georgia duced the gap the most, by 4 percentage 60 China points since 2005. Lower-middle-income economies have closed the gap with Rwanda 50 high-income economies by 3 percentage points, and upper-middle-income econo- 40 2005 mies by 2 percentage points. This conver- gence is far from complete, however. 30 While the Arab Republic of Egypt is the Weaker 20 top improver in the Middle East and North 20 30 40 50 60 70 80 90 100 Africa since 2005, its improvement was Complex and expensive Simple and inexpensive concentrated in the years before 2009. Complexity and cost of regulatory processes In the past 4 years there was no visible Note: Strength of legal institutions refers to the average distance to frontier in getting credit, protecting investors, enforcing improvement in the areas measured by contracts and resolving insolvency. Complexity and cost of regulatory processes refers to the average distance to frontier in Doing Business. Regionally, there was less starting a business, dealing with construction permits, registering property, paying taxes and trading across borders. Each dot refers to a different year, starting in 2005 and ending in 2012. The reform progress of Singapore, the economy with the focus on reforming business regulation in most business-friendly regulation for the seventh year in a row, is shown for purposes of comparison. For visual clarity the the past year than in any previous year series for Singapore starts in 2007. The distance to frontier measure shows how far on average an economy is from the best performance achieved by any economy on each Doing Business indicator since 2005. The measure is normalized to range covered by Doing Business, with only 11% between 0 and 100, with 100 representing the best performance (the frontier). of economies implementing at least 2 Source: Doing Business database. regulatory reforms (box 1.3). Colombia, the economy narrowing the in 2007, a new property law in 2007, a strengthened the process of resolving gap with the frontier the most in Latin new civil procedure law in 2008 and a insolvency. America and the Caribbean, is also fea- new corporate income tax law in 2008. tured in a case study this year. Between After establishing its first credit bureau IN WHAT AREAS IS THE GAP 2006 and 2009 Colombia focused mostly in 2004, India focused mostly on sim- NARROWING THE MOST? on improving the efficiency of regulatory plifying and reducing the cost of regula- Since 2005 there has been a convergence processes, with an emphasis on business tory processes in such areas as starting a in business regulatory practices in two- registration and tax administration. But in business, paying taxes and trading across thirds of the areas measured by Doing 2010 it began reforming legal institutions, borders. Business: starting a business, paying such as by strengthening the protection taxes, dealing with construction permits, Five OECD high-income economies make of minority shareholders and by improv- the list of top 50 improvers: Poland, the registering property, getting credit and ing the insolvency regime. Czech Republic, Slovenia, Portugal and enforcing contracts. This means that laws, Two of the “BRICs” rank among the top France. Poland in the past year alone im- regulations and procedures in these areas 50 improvers—China and India, each also plemented 4 institutional and regulatory are more similar across economies today the top improver in its region since 2005. reforms, among the 20 recorded for it by than they were 8 years ago. Overall, more Both implemented regulatory reforms Doing Business since 2005. It improved convergence has occurred in the areas particularly in the early years covered the process for transferring property, measured by Doing Business that relate by Doing Business. China established a made paying taxes more convenient by to the complexity and cost of regulatory new company law in 2005, a new credit promoting the use of electronic facilities, processes than in those that relate to the registry in 2006, its first bankruptcy law reduced the time to enforce contracts and strength of legal institutions.1 EXECUTIVE SUMMARY 11 The greatest convergence in regulatory remain constant over time when doing FIGURE 1.8 Strong convergence across practice has occurred in business start- analysis across economies—something economies since 2005 up. Among the 174 economies covered not possible in the earlier cross-country Averages by quartile by Doing Business since 2005, the time analyses. Based on a 5-year panel of Time to start a business (days) to start a business in that year averaged economies, one such study finds that in 120 112 days in the worst quartile of the low-income economies that implemented 100 economies as ranked by performance reforms making it easier to do business, on this indicator, while it averaged 29 80 the growth rate increased by 0.4 percent- Worst days for the rest (figure 1.8). Since then, age point in the following year.2 Emerging 60 quartile thanks to 368 reforms in 149 economies, evidence from analysis based on 8 years 40 the average time for the worst quartile of Doing Business data and building on the Best 3 quartiles has fallen to 63 days, getting closer to the earlier studies shows that improvements 20 average of 18 for the rest. Similar but less in business entry and other aspects of 0 strong patterns are observed for indicators 2005 2006 2007 2008 2009 2010 2011 2012 business regulation matter for aggregate of time, procedures and cost for paying growth as well. Credibly pinning down the Time to deal with construction permits (days) taxes, dealing with construction permits 450 magnitude of this effect is more difficult, and registering property. 400 however.3 350 But in 3 areas the trend runs weakly in Worst Research on the effect of regulatory 300 quartile the other direction. In protecting inves- 250 reforms is advancing especially rapidly tors, trading across borders and resolving 200 Best 3 quartiles around the question of business start-up. insolvency the realities in different econo- 150 A growing body of research has shown mies have slowly drifted apart rather than 100 that simpler entry regulations encourage 50 converged. This does not mean that in the creation of more new firms and new 0 these 3 areas the average regulatory en- 2005 2006 2007 2008 2009 2010 2011 2012 jobs in the formal sector. Economies at vironment is worse today than in 2005; varying income levels and in different Time to pay taxes (hours per year) it is actually better (see figure 1.6). But it does mean that economies that were in regions saw noticeable increases in the 800 the best 3 quartiles of the distribution in number of new firm registrations after 700 these 3 areas in 2005 have strengthened implementing such reforms (figure 1.9). 600 Worst practices and institutions somewhat Within-country studies have confirmed 500 quartile faster than those in the worst quartile. the positive association between im- 400 provements in business registration and 300 Best 3 quartiles WHAT IS THE IMPACT ON registration of new firms in such countries 200 ECONOMIC OUTCOMES? as Colombia, India, Mexico and Portugal. 100 These studies have found increases of 0 Beyond what Doing Business measures, 2005 2006 2007 2008 2009 2010 2011 2012 5–17% in the number of newly registered have the business regulation reforms un- businesses after reforms of the business Time to register property (days) dertaken by governments since 2005 had registration process (for more discussion, 250 an impact? In presenting analysis of this question, earlier editions of Doing Business see the chapter “About Doing Business”). 200 focused on cross-country analyses linking Better business regulation as measured 150 business regulation to economic variables Worst by Doing Business is also associated quartile such as corruption or rates of informality with greater new business registration. 100 in the economy. Ongoing research by Doing Business us- 50 Best 3 quartiles With more years of data now available, ing 8 years of data shows that reducing previous research on the impact of the distance to frontier by 10 percentage 0 2005 2006 2007 2008 2009 2010 2011 2012 reforms in the areas measured by Doing points is associated with an increase of 1 Business can be extended over time and newly registered business for every 1,000 Note: Economies are ranked in quartiles by performance working-age people, a meaningful result in 2005 on the indicator shown. The data refer to the 174 linked to more economic outcomes. economies included in Doing Business 2006 (2005). Eleven Using several years of data for the same given the world average of 3.2 newly economies were added in subsequent years. economy makes it possible to take into registered businesses for every 1,000 Source: Doing Business database. account country characteristics that working-age people per year.4 12 DOING BUSINESS 2013 BOX 1.3 BUSINESS REGULATION IN THE MIDDLE EAST AND NORTH AFRICA—THE CHALLENGES AHEAD Earlier editions of the Doing Business rank corruption, anticompetitive practices complexity and cost of regulatory process- report highlighted substantial efforts by and regulatory policy uncertainty high on es, entrepreneurs across the region still con- governments in the Middle East and North their list of concerns. At the same time 60% tend with weak investor and property rights Africa to improve business regulation for of public officials interviewed across the protections (see figure). With an average local entrepreneurs. But the reform mo- region perceive the private sector as rent ease of doing business ranking of 98, the re- mentum has slowed since the beginning of seeking and corrupt. And banks cite lack of gion still has much room for making the life the Arab Spring in January 2011, as some corporate transparency as among the main of local businesses easier through clearer countries have entered a complex process obstacles to extending more finance to and more transparent rules applied more of transition to more democratic forms of small and medium-size enterprises.2 consistently. Such rules would facilitate governance. The post–Arab Spring govern- Some governments in the region have rather than impede private sector activity ments have had a broad range of economic, tried to aggressively reform the business in economies where the state has tradition- social and political issues to address, and environment in the past, but have seen the ally had an outsized presence in the national this in turn has resulted in a slower overall impact of their efforts lessened by a lack of economy and in a region where the need to reform process, as new governments have sustained commitment to in-depth changes encourage entrepreneurship is thus perhaps struggled to adjust to important shifts in the and the related risk of upsetting the estab- more intense than in any other. political and economic landscape. lished order. A common view is that only All these challenges notwithstanding, The region faces structural challenges connected entrepreneurs are successful, the recent political changes in the region— that can impede private sector activity. A suggesting a dual set of rules with prefer- fast, hectic, unpredictable, far-reaching in history of government intervention has ential treatment for those close to the ruling their effects—provide a unique opportunity created more opportunities for rent seek- elites. This suggests a need for governments for governments to substantively address ing than for entrepreneurship. Firm surveys to invest in governance structures and in- many of the impediments to private sector show that manufacturing firms as well as crease transparency in parallel with efforts development that have plagued the region their managers are older on average than to improve the business regulatory environ- in recent decades. Moving to a system of those in other regions, indicating weaker ment. The case study on transparency in more transparent and sensible rules—rules entry and exit mechanisms. Firm entry den- this year’s report points to one area where that are better able to respond to the needs sity in the Middle East and North Africa is they could start: the Middle East and North of the business community and that provide among the lowest in the world.1 Africa is one of the regions with the most incentives to narrow the gap between the Moreover, the region suffers from a crisis constrained access to basic regulatory infor- law as written and the law as practiced— of governance and trust: businesses do not mation such as fee schedules. will go a long way toward creating the con- trust officials, and officials do not trust busi- Although economies in the region ditions for more equitable economic growth nesses. Business managers in the region have made some strides in reducing the and a faster pace of job creation. Entrepreneurs across the Middle East and North Africa face relatively weak investor and property rights protections Average ranking on sets of Doing Business indicators by economy and global income group Stronger Stronger legal institutions but Stronger legal institutions and more complex and expensive High simpler and less expensive regulatory processes income regulatory processes Saudi Upper middle Arabia Strength of legal institutions Size of bubble reflects average population size income Size of bubble reflects population size Lower middle Tunisia Qatar income Algeria Iran, Islamic Rep. Kuwait Oman Bahrain Morocco Egypt, United Arab Low Arab Rep. Lebanon Emirates income West Bank and Gaza Yemen, Rep. Jordan Weaker legal institutions and Djibouti Syrian Arab Republic Weaker legal institutions but more complex and expensive Iraq simpler and less expensive Weaker regulatory processes regulatory processes Complex and Complexity and cost Simple and expensive of regulatory processes inexpensive Note: Strength of legal institutions refers to the average ranking on getting credit, protecting investors, enforcing contracts and resolving insolvency. Complexity and cost of regulatory processes refers to the average ranking on starting a business, dealing with construction permits, getting electricity, registering property, paying taxes and trading across borders. The global income groups exclude economies in the Middle East and North Africa. Source: Doing Business database. 1. World Bank, From Privilege to Competition: Unlocking Private-Led Growth in the Middle East and North Africa (Washington, DC: World Bank, 2009). Firm entry density is defined as the number of newly registered limited liability companies per 1,000 working-age people (ages 15–64). 2. Roberto Rocha, Subika Farazi, Rania Khouri and Douglas Pearce, “The Status of Bank Lending to SMEs in the Middle East and North Africa Region: The Results of a Joint Survey of the Union of Arab Banks and the World Bank” (World Bank, Washington, DC; and Union of Arab Banks, Beirut, 2010). EXECUTIVE SUMMARY 13 TABLE 1.4 Good practices around the world, by Doing Business topic Topic Practice Economiesa Examples Making it Putting procedures online 106 Hong Kong SAR, China; FYR Macedonia; New Zealand; Peru; Singapore easy to start a business Having no minimum capital requirement 91 Kazakhstan; Kenya; Kosovo; Madagascar; Mexico; Mongolia; Morocco; Portugal; Rwanda; Serbia; United Arab Emirates; United Kingdom Having a one-stop shop 88 Bahrain; Burkina Faso; Georgia; Republic of Korea; Peru; Vietnam Making Having comprehensive building rules 135 Croatia; Kenya; New Zealand; Republic of Yemen it easy to deal with Using risk-based building approvals 86 Armenia; Germany; Mauritius; Singapore construction Having a one-stop shop 31 Bahrain; Chile; Hong Kong SAR, China; Rwanda permits Making Streamlining approval processes (utility obtains excavation 104b Armenia; Austria; Benin; Cambodia; Czech Republic; Panama it easy to permit or right of way if required) obtain an electricity Providing transparent connection costs and processes 103 France; Germany; Ireland; Netherlands; Trinidad and Tobago connection Reducing the financial burden of security deposits for new 96 Argentina; Austria; Kyrgyz Republic; Latvia; Mozambique; Nepal connections Ensuring the safety of internal wiring by regulating the elec- 40 Denmark; Germany; Iceland; Japan trical profession rather than the connection process Making Using an electronic database for encumbrances 108 Jamaica; Sweden; United Kingdom it easy to register Offering cadastre information online 50 Denmark; Lithuania; Malaysia property Offering expedited procedures 16 Azerbaijan; Bulgaria; Georgia Setting fixed transfer fees 10 New Zealand; Russian Federation; Rwanda Making it Legal rights easy to get Allowing out-of-court enforcement 122 Australia; India; Nepal; Peru; Russian Federation; Serbia; Sri Lanka credit Allowing a general description of collateral 92 Cambodia; Canada; Guatemala; Nigeria; Romania; Rwanda; Singapore Maintaining a unified registry 67 Bosnia and Herzegovina; Ghana; Honduras; Marshall Islands; Mexico; Montenegro; New Zealand Credit information Distributing data on loans below 1% of income per capita 123 Brazil; Bulgaria; Germany; Kenya; Malaysia; Sri Lanka; Tunisia Distributing both positive and negative credit information 105 China; Croatia; India; Italy; Jordan; Panama; South Africa Distributing credit information from retailers, trade creditors 55 Fiji; Lithuania; Nicaragua; Rwanda; Saudi Arabia; Spain or utilities as well as financial institutions Protecting Allowing rescission of prejudicial related-party transactionsc 73 Brazil; Mauritius; Rwanda; United States investors Regulating approval of related-party transactions 60 Albania; France; United Kingdom Requiring detailed disclosure 53 Hong Kong SAR, China; New Zealand; Singapore Allowing access to all corporate documents during the trial 46 Chile; Ireland; Israel Requiring external review of related-party transactions 43 Australia; Arab Republic of Egypt; Sweden Allowing access to all corporate documents before the trial 30 Japan; Sweden; Tajikistan Defining clear duties for directors 28 Colombia; Malaysia; Mexico; United States Making it Allowing self-assessment 156 Argentina; Canada; China; Rwanda; Sri Lanka; Turkey easy to pay taxes Allowing electronic filing and payment 74 Australia; Colombia; India; Lithuania; Malta; Mauritius; Tunisia Having one tax per tax base 48 FYR Macedonia; Namibia; Paraguay; United Kingdom Making Allowing electronic submission and processing 149e Belize; Chile; Estonia; Pakistan; Turkey it easy to trade across Using risk-based inspections 133 Morocco; Nigeria; Palau; Vietnam bordersd Providing a single window 71f Colombia; Ghana; Republic of Korea; Singapore Making Making all judgments in commercial cases by first-instance 121g Chile; Iceland; Nigeria; Russian Federation; Uruguay it easy to courts publicly available in practice enforce contracts Maintaining specialized commercial court, division or judge 82 Burkina Faso; France; Liberia; Poland; Sierra Leone; Singapore Allowing electronic filing of complaints 19 Brazil; Republic of Korea; Malaysia; Rwanda; Saudi Arabia Making Allowing creditors’ committees a say in insolvency proceeding 109 Australia; Bulgaria; Philippines; United States; Uzbekistan it easy to decisions resolve insolvency Requiring professional or academic qualifications for insol- 107 Armenia; Belarus; Colombia; Namibia; Poland; United Kingdom vency administrators by law Specifying time limits for the majority of insolvency procedures 94 Albania; Italy; Japan; Republic of Korea; Lesotho Providing a legal framework for out-of-court workouts 82 Argentina; Hong Kong SAR, China; Latvia; Philippines; Romania a. Among 185 economies surveyed, unless otherwise specified. e. Thirty-one have a full electronic data interchange system, 118 a partial one. b. Among 151 economies surveyed. f. Eighteen have a single-window system that links all relevant government agencies, 53 a system c. Rescission is the right of parties involved in a contract to return to a state identical to that does so partially. that before they entered into the agreement. g. Among 184 economies surveyed. d. Among 181 economies surveyed. Source: Doing Business database; for starting a business, also World Bank (2009b). 14 DOING BUSINESS 2013 FIGURE 1.9 More new firms are registered after reforms making it simpler to start a business NOTES Number of newly registered firms (thousands) 1. To measure convergence, Doing Business 60 calculated the change in the variance of distance to frontier across 174 economies since 2005 for each topic. 50 Chile The results suggest that the largest con- Sweden vergence has been in starting a business, 40 with the variance decreasing by 49% since 2005. The topics with the next 30 Morocco largest convergence are paying taxes (with a change in variance of −24%), Kenya dealing with construction permits 20 (−23%), registering property (−19%), Bangladesh getting credit (−12%) and enforcing 10 contracts (−4%). Several other topics Rwanda show a small divergence: trading across 0 borders (7%), protecting investors (2%) -3 -2 -1 0 1 2 3 and resolving insolvency (1%). The Years before reform Years after reform overall change in the variance is −16%, Note: All 6 economies implemented a reform making it easier to start a business as measured by Doing Business. The reform suggesting an overall convergence in all year varies by economy and is represented by the vertical line in the figure. For Bangladesh and Rwanda it is 2009; for Chile, Doing Business topics. 2011; for Kenya, 2007; for Morocco, 2006; and for Sweden, 2010. 2. Eifert 2009. Source: World Bank Group Entrepreneurship Snapshots, 2012 edition. 3. The analysis, by Divanbeigi and Ramalho (2012), finds that narrowing the distance Yet another finding relates to the relation- (APEC), focusing on peer-to-peer learn- to frontier in the indicator sets measur- ing the complexity and cost of regulatory ship between foreign direct investment ing. And for the first time the report pres- processes by 10 percentage points is and business regulation. A case study in ents thematic case studies, on foreign associated with an increase of close to 1 this year’s report shows that although the percentage point in the GDP growth rate. direct investment and on transparency in Doing Business indicators measure regula- Since the distance to frontier improves business regulation. by 1 percentage point a year on average, tions applying to domestic firms, econo- these simulations are based on expected mies that do well in this area also provide This year’s report also reintroduces the results for a 10-year period. Results are an attractive regulatory environment for topic chapters. But it presents them in a based on Arellano-Bond dynamic panel foreign firms. Again using multiple years estimation to control for economic cycle different format, as shorter “topic notes” and time-invariant country-specific of data, the case study shows that econo- that focus on the changes in the data factors. Following Eifert (2009) and mies that are closer to the frontier in Djankov, McLeish and Ramalho (2006), from the previous year and over all years regulatory practice attract larger inflows the analysis controls for government covered by Doing Business. The topic consumption, institutional quality and of foreign direct investment. notes also discuss the most prominent corruption perception. It also controls reforms from the past year. Full informa- for total trade openness and rents from WHAT’S NEW IN natural resources. THIS YEAR’S REPORT? tion for each topic, including examples of 4. This research follows Klapper and This year’s report, like last year’s, pres- good practices and relevant research, is Love (2011a). The analysis controls for available on the Doing Business website.5 government consumption, institutional ents country case studies. These feature quality and corruption perception. It also Colombia, Latvia and Rwanda. In addition, The website also presents the full list of controls for total trade openness and the report presents a regional case study good practices by topic summarized in rents from natural resources. on Asia-Pacific Economic Cooperation table 1.4. 5. http://www.doingbusiness.org. 15 About Doing Business: measuring for impact The private sector provides an estimated economy can be compared with those for 90% of jobs in developing economies.1 184 other economies and over time. Where government policies support a dynamic business environment—with Over the years the choice of indicators for firms making investments, creating jobs Doing Business has been guided by a rich and increasing productivity—all people pool of data collected through the World have greater opportunities. A growing Bank Enterprise Surveys. These data body of evidence suggests that policy highlight the main obstacles to business makers seeking to strengthen the private activity as reported by entrepreneurs in sector need to pay attention not only to well over 100 economies. Among the macroeconomic factors but also to the factors that the surveys have identified as quality of laws, regulations and insti- important to businesses have been taxes tutional arrangements that shape daily (tax administration as well as tax rates) economic life.2 and electricity—inspiring the design of the paying taxes and getting electricity This is the 10th Doing Business report. indicators. In addition, the design of the When the first report was produced, in Doing Business indicators has drawn 2003, there were few globally available on theoretical insights gleaned from and regularly updated indicators for extensive research literature.3 The Doing monitoring such microeconomic issues Business methodology makes it possible as business regulations affecting local to update the indicators in a relatively firms. Earlier efforts from the 1980s drew inexpensive and replicable way. on perceptions data, but these expert or business surveys focused on broad The Doing Business methodology is also aspects of the business environment responsive to the needs of policy makers. and often captured the experiences of Rules and regulations are under the direct businesses. These surveys also lacked control of policy makers—and policy the specificity and cross-country compa- makers intending to change the experi- rability that Doing Business provides—by ence and behavior of businesses will focusing on well-defined transactions, often start by changing rules and regula- laws and institutions rather than generic, tions that affect them. Doing Business perceptions-based questions on the busi- goes beyond identifying that a problem ness environment. exists and points to specific regulations or regulatory procedures that may lend Doing Business seeks to measure business themselves to regulatory reform. And regulations for domestic firms through an its quantitative measures of business objective lens. The project looks primar- regulation enable research on how spe- ily at small and medium-size companies cific regulations affect firm behavior and in the largest business city. Based on economic outcomes. standardized case studies, it presents quantitative indicators on the regulations The first Doing Business report covered 5 that apply to firms at different stages topics and 133 economies. This year’s re- of their life cycle. The results for each port covers 11 topics and 185 economies. 16 DOING BUSINESS 2013 Ten topics are included in the aggregate benefits and bear the costs of develop- FIGURE 2.1 What are SMART business ranking on the ease of doing business, ment strategies and policies. regulations as defined by Doing Business? and 9 in the distance to frontier measure.4 The project has benefited from feedback Consistent with the view that rules mat- ter, some Doing Business indicators give STREAMLINED—regulations from governments, academics, practi- that accomplish the desired a higher score for more regulation and outcome in the most efficient way tioners and reviewers.5 The initial goal remains: to provide an objective basis for better-functioning institutions (such as S courts or credit bureaus). In the area of understanding and improving the regula- MEANINGFUL—regulations protecting investors, for example, higher that have a measurable positive tory environment for business. scores are given for stricter disclosure re- impact in facilitating WHAT DOING BUSINESS COVERS quirements for related-party transactions. M interactions in the marketplace Higher scores are also given for a simpli- Doing Business captures several important fied way of applying regulation that keeps ADAPTABLE—regulations dimensions of the regulatory environ- compliance costs for firms low—such as that adapt to changes in the environment ment as they apply to local firms. It provides quantitative measures of regula- by allowing firms to comply with business A start-up formalities in a one-stop shop tions for starting a business, dealing with or through a single online portal. Finally, RELEVANT—regulations that are construction permits, getting electricity, Doing Business scores reward economies proportionate to the problem they are designed to solve registering property, getting credit, pro- tecting investors, paying taxes, trading that apply a risk-based approach to regulation as a way to address social R across borders, enforcing contracts and and environmental concerns—such as TRANSPARENT—regulations resolving insolvency. Doing Business also by imposing a greater regulatory burden that are clear and accessible to on activities that pose a high risk to the anyone who needs to use them looks at regulations on employing work- ers. Pending further progress on research population and a lesser one on lower-risk T in this area, this year’s report does not activities. present rankings of economies on the Thus the economies that rank highest on employing workers indicators or include the ease of doing business are not those Indeed, about three-quarters of the data the topic in the aggregate ranking on the where there is no regulation—but those used in Doing Business are of this factual ease of doing business. It does present the where governments have managed to type, reducing the need to have a larger data on the employing workers indicators. create rules that facilitate interactions sample size of experts in order to improve Additional data on labor regulations col- in the marketplace without needlessly accuracy. The local expert respondents lected in 185 economies are available on hindering the development of the private play a vital role in corroborating the Doing the Doing Business website.6 Business team’s understanding and inter- sector. In essence, Doing Business is about smart business regulations, not necessar- pretation of rules and laws. The foundation of Doing Business is the notion that economic activity, particularly ily fewer regulations (figure 2.1). Data of the second type serve as inputs private sector development, benefits from into indicators on the complexity and cost In constructing the indicators the Doing clear and coherent rules: Rules that set out of regulatory processes. These indicators Business project uses 2 types of data. and clarify property rights and facilitate The first come from readings of laws and measure the efficiency in achieving a the resolution of disputes. And rules that regulations in each economy. The Doing regulatory goal, such as the number of enhance the predictability of economic Business team, in collaboration with local procedures to obtain a building permit interactions and provide contractual part- expert respondents, examines the com- or the time taken to grant legal identity ners with essential protections against pany law to find the disclosure require- to a business. In this group of indicators arbitrariness and abuse. Where such ments for related-party transactions. It cost estimates are recorded from official rules are reasonably efficient in design, reads the civil law to find the number of fee schedules where applicable. Time are transparent and accessible to those procedures necessary to resolve a com- estimates often involve an element of for whom they are intended and can be mercial sale dispute before local courts. judgment by respondents who routinely implemented at a reasonable cost, they It reviews the labor code to find data on administer the relevant regulations or are much more effective in shaping the a range of issues concerning employer- undertake the relevant transactions.7 incentives of economic agents in ways employee relations. And it plumbs other These experts have several rounds of that promote growth and development. legal instruments for other key pieces interaction with the Doing Business team, The quality of the rules also has a crucial of data used in the indicators, several involving conference calls, written cor- bearing on how societies distribute the of which have a large legal dimension. respondence and visits by the team until ABOUT DOING BUSINESS: MEASURING FOR IMPACT 17 there is convergence on the final answer. TABLE 2.1 Doing Business—benchmarking 11 areas of business regulation To construct the time indicators, a regula- Complexity and cost of regulatory processes tory process such as starting a business Starting a business Procedures, time, cost and paid-in minimum capital requirement is broken down into clearly defined steps Dealing with construction permits Procedures, time and cost and procedures (for more details, see Getting electricity Procedures, time and cost the discussion on methodology in this Registering property Procedures, time and cost chapter). Here Doing Business builds on Paying taxes Payments, time and total tax rate Hernando de Soto’s pioneering work in Trading across borders Documents, time and cost applying the time-and-motion approach Strength of legal institutions in the 1980s to show the obstacles to set- Getting credit Movable collateral laws and credit information systems ting up a garment factory on the outskirts Protecting investors Disclosure and liability in related-party transactions of Lima.8 Enforcing contracts Procedures, time and cost to resolve a commercial dispute Resolving insolvency Time, cost, outcome and recovery rate WHAT DOING BUSINESS Employing workersa Flexibility in the regulation of employment DOES NOT COVER a. The employing workers indicators are not included in this year’s ranking on the ease of doing business nor in the The Doing Business data have key limita- calculation of any data on the strength of legal institutions included in figures in the report. tions that should be kept in mind by those who use them. through 11 specific sets of indicators One such assumption is the location of a (table 2.1). Similar to the indicators notional business in the largest business Limited in scope on getting electricity, those on start- city of the economy. The reality is that The Doing Business indicators are limited ing a business or protecting investors business regulations and their enforce- in scope. In particular: do not cover all aspects of commercial ment very often differ within a country, • Doing Business does not measure the legislation. And those on employing particularly in federal states and large full range of factors, policies and in- workers do not cover all areas of labor economies. But gathering data for every stitutions that affect the quality of the regulation; for example, they do not relevant jurisdiction in each of the 185 business environment in an economy measure regulations addressing health economies covered by Doing Business or its national competitiveness. It does and safety issues at work or the right of would be far too costly. not, for example, capture aspects of collective bargaining. security, the prevalence of bribery • Doing Business does not attempt to Doing Business recognizes the limitations and corruption, market size, macro- measure all costs and benefits of a of the standardized case scenarios and economic stability (including whether particular law or regulation to society assumptions. But while such assump- the government manages its public fi- as a whole. The paying taxes indicators, tions come at the expense of generality, nances in a sustainable way), the state for example, measure the total tax rate, they also help ensure the comparability of the financial system or the level of which in isolation is a cost to the busi- of data. For this reason it is common to training and skills of the labor force. ness. The indicators do not measure, see limiting assumptions of this kind in • Even within the relatively small set of nor are they intended to measure, the economic indicators. Inflation statistics, indicators included in Doing Business, benefits of the social and economic for example, are often based on prices of the focus is deliberately narrow. The programs funded through tax rev- a set of consumer goods in a few urban getting electricity indicators, for ex- enues. Measuring business laws and areas, since collecting nationally repre- ample, capture the procedures, time regulations provides one input into sentative price data at high frequencies and cost involved for a business to ob- the debate on the regulatory burden may be prohibitively costly in many coun- tain a permanent electricity connection associated with achieving regulatory tries. To capture regional variation in the to supply a standardized warehouse. objectives. Those objectives can differ business environment within economies, Through these indicators Doing across economies. Doing Business has complemented its Business thus provides a narrow per- global indicators with subnational studies spective on the range of infrastructure Limited to standardized in some economies where resources and challenges that firms face, particularly case scenarios interest have come together (box 2.1). in the developing world. It does not ad- A key consideration for the Doing Business dress the extent to which inadequate indicators is that they should ensure Some Doing Business topics include com- roads, rail, ports and communications comparability of the data across a global plex and highly differentiated areas. Here may add to firms’ costs and undermine set of economies. The indicators are the standardized cases and assumptions competitiveness. Doing Business cov- therefore developed around standardized are carefully considered and defined. For ers 11 areas of a company’s life cycle, case scenarios with specific assumptions. example, the standardized case scenario 18 DOING BUSINESS 2013 usually involves a limited liability company investors are encouraged to venture into what needs to be done or how to comply or its legal equivalent. The considerations business when potential losses are lim- and may lose considerable time in trying in defining this assumption are twofold. ited to their capital participation. to find out. Or they may deliberately avoid First, private limited liability companies compliance altogether—by not register- are, empirically, the most prevalent busi- Limited to the formal sector ing for social security, for example. Where regulation is particularly onerous, levels of ness form in many economies around The Doing Business indicators assume informality tend to be higher (figure 2.2). the world. Second, this choice reflects that entrepreneurs have knowledge of the focus of Doing Business on expand- and comply with applicable regulations. Informality comes at a cost. Compared ing opportunities for entrepreneurship: In practice, entrepreneurs may not know with their formal sector counterparts, firms in the informal sector typically grow more slowly, have poorer access to credit BOX 2.1 COMPARING REGULATIONS AT THE LOCAL LEVEL: SUBNATIONAL DOING BUSINESS REPORTS and employ fewer workers—and these Subnational Doing Business reports expand the indicators beyond the largest busi- workers remain outside the protections of ness city in an economy. They capture local differences in regulations or in the imple- labor law.9 All this may be even more so mentation of national regulations across cities within an economy (as in Colombia) for female-owned businesses, according or region (as in South East Europe). Projects are undertaken at the request of central to country-specific research.10 Firms in governments, which often contribute financing, as in Mexico. In some cases local gov- ernments also provide funding, as in the Russian Federation. the informal sector are also less likely to Subnational indicators provide governments with standard measures, based on laws pay taxes. and regulations, that allow objective comparisons both domestically and internation- ally. As a diagnostic tool, they identify bottlenecks as well as highlight good practices Doing Business measures one set of factors that are easily replicable in other cities sharing a similar legal framework. that help explain the occurrence of infor- Governments take ownership of a subnational project by participating in all steps of mality and give policy makers insights its design and implementation—choosing the cities to be benchmarked, the indicators into potential areas of reform. Gaining that can capture local differences and the frequency of benchmarking. All levels of a fuller understanding of the broader government are involved—national, regional and municipal. business environment, and a broader Subnational projects create a space for discussing regulatory reform and provide opportunities for governments and agencies to learn from one another, through the perspective on policy challenges, requires report and through peer-to-peer learning workshops. Even after the report is launched, combining insights from Doing Business knowledge sharing continues. In Mexico 28 of 32 states hold regular exchanges. with data from other sources, such as the Repeated benchmarking creates healthy competition between cities to improve World Bank Enterprise Surveys.11 their regulatory environment. The dissemination of the results reinforces this pro- cess and gives cities an opportunity to tell their stories. Fifteen economies have requested 2 or more rounds of benchmarking since 2005 (including Colombia, WHY THIS FOCUS? Indonesia and Nigeria), and many have expanded the geographic coverage to Why does Doing Business focus on the more cities (including Russia). In Mexico each successive round has captured an regulatory environment for small and me- increase in the number of states improving their regulatory environment in each of dium-size enterprises? These enterprises the 4 indicator sets included—reaching 100% of states in 2011. are key drivers of competition, growth and Since 2005 subnational reports have covered 335 cities in 54 economies, including Brazil, China, the Arab Republic of Egypt, India, Kenya, Morocco, Pakistan and the Philippines.1 job creation, particularly in developing This year studies were updated in Indonesia, Kenya, Mexico, Russia and the United economies. But in these economies up to Arab Emirates. Studies are ongoing in Hargeisa (Somaliland) as well as in 23 cities and 65% of economic activity takes place in 4 ports in Colombia, 15 cities and 3 ports in Egypt and 13 cities and 7 ports in Italy. In the informal sector, often because of ex- addition, 3 regional reports were published: cessive bureaucracy and regulation—and • Doing Business in OHADA, comparing business regulations in the 16 member states in the informal sector firms lack access of the Organization for the Harmonization of Business Law in Africa (Benin, Burkina Faso, Cameroon, the Central African Republic, Chad, the Comoros, the Republic of to the opportunities and protections that Congo, Côte d’Ivoire, Equatorial Guinea, Gabon, Guinea, Guinea-Bissau, Mali, Niger, the law provides. Even firms operating in Senegal and Togo). the formal sector might not have equal • Doing Business in the East African Community, covering 5 economies (Burundi, Kenya, access to these opportunities and protec- Rwanda, Tanzania and Uganda). tions. Where regulation is burdensome • Doing Business in the Arab World, covering 20 economies (Algeria, Bahrain, the and competition limited, success tends to Comoros, Djibouti, Egypt, Iraq, Jordan, Kuwait, Lebanon, Mauritania, Morocco, depend on whom one knows. But where Oman, Qatar, Saudi Arabia, Sudan, the Syrian Arab Republic, Tunisia, the United Arab Emirates, West Bank and Gaza, and the Republic of Yemen). regulation is transparent, efficient and implemented in a simple way, it becomes 1. Subnational reports are available on the Doing Business website at http://www.doingbusiness.org/ subnational. easier for aspiring entrepreneurs to com- pete, innovate and grow. ABOUT DOING BUSINESS: MEASURING FOR IMPACT 19 FIGURE 2.2 Higher levels of informality are associated with lower Doing Business rankings other major economic benchmarks. The Informal sector indicator set closest to Doing Business in as % of GDP, 2007 what it measures is the set of indicators 70 on product market regulation compiled by the Organisation for Economic Co- 60 operation and Development (OECD). 50 These are designed to help assess the extent to which the regulatory environ- 40 ment promotes or inhibits competition. 30 They include measures of the extent of price controls, the licensing and permit 20 system, the degree of simplification of 10 rules and procedures, the administrative burdens and legal and regulatory bar- 0 riers, the prevalence of discriminatory 0 20 40 60 80 100 120 140 160 180 procedures and the degree of government DB2013 ranking on the ease of doing business control over business enterprises.13 These Note: The correlation between the 2 variables is 0.57. Relationships are significant at the 5% level after controlling for income indicators—for the 39 countries that are per capita. The data sample includes 143 economies. Source: Doing Business database; Schneider, Buehn and Montenegro 2010. covered, several of them large emerging markets—are correlated with the Doing Business rankings (the correlation here is Do the focus areas of Doing Business mat- cover aspects that are more easily mea- 0.53) (figure 2.3). ter for development and poverty reduc- sured than the entire regulatory environ- tion? The World Bank study Voices of the ment, and they provide important infor- There is a high correlation (0.83) be- Poor asked 60,000 poor people around mation about where change is needed. tween the Doing Business rankings and the the world how they thought they might What type of change or regulatory reform rankings on the World Economic Forum’s escape poverty.12 The answers were un- is right, however, can vary substantially Global Competitiveness Index, a much equivocal: women and men alike pin their across economies. broader measure capturing such factors hopes, above all, on income from their as macroeconomic stability, aspects of own business or wages earned in employ- To test whether Doing Business serves human capital, the soundness of public ment. Enabling growth—and ensuring as a proxy for the broader business institutions and the sophistication of that all people, regardless of income level, environment and for competitiveness, the business community (figure 2.4).14 can participate in its benefits—requires one approach is to look at correlations Self-reported experiences with business an environment where new entrants with between the Doing Business rankings and regulations, such as those captured by the drive and good ideas can get started in business and where good firms can invest FIGURE 2.3 A significant correlation between Doing Business rankings and OECD rankings on and grow, thereby generating more jobs. product market regulation In this sense Doing Business values good rules as a key to social inclusion. 2008 ranking on OECD product market regulation indicators In effect, Doing Business functions as a 40 barometer of the regulatory environment for domestic businesses. To use a medi- 30 cal analogy, Doing Business is similar to a cholesterol test. A cholesterol test does 20 not tell us everything about our health. But our cholesterol level is easier to mea- sure than our overall health, and the test 10 provides us with important information, warning us when we need to adjust our 0 0 20 40 60 80 100 120 140 160 180 behavior. Similarly, Doing Business does not tell us everything we need to know DB2013 ranking on the ease of doing business about the regulatory environment for Note: Relationships are significant at the 5% level after controlling for income per capita. domestic businesses. But its indicators Source: Doing Business database; OECD data. 20 DOING BUSINESS 2013 FIGURE 2.4 A strong correlation between Doing Business rankings and World Economic Forum At any point in time the distance to fron- rankings on global competitiveness tier measure shows how far an economy is 2012/13 ranking on Global from the highest performance. And com- Competitiveness Index paring an economy’s score at 2 points in 140 time allows users to assess the absolute change over time in the economy’s regu- 120 latory environment as measured by Doing 100 Business, rather than simply the change 80 in the economy’s performance relative to 60 others. In this way the distance to frontier measure complements the yearly ease of 40 doing business ranking, which compares 20 economies with one another at a point in 0 time. 0 20 40 60 80 100 120 140 160 180 DB2013 ranking on the ease of doing business Each topic covered by Doing Business relates to a different aspect of the busi- Note: Relationships are significant at the 5% level after controlling for income per capita. Source: Doing Business database; WEF 2012. ness regulatory environment. The rank- ings of each economy vary, sometimes significantly, across topics. A quick way Global Competitiveness Index, often vary economies that have had rapid growth or to assess the variability of an economy’s much more within economies (across attracted a great deal of investment may regulatory performance across the differ- respondents in the same economy) than rank lower than others that appear to be ent areas of business regulation is to look across economies.15 A high correlation less dynamic. at the topic rankings (see the country such as this one can therefore coexist with tables). Guatemala, for example, stands significant differences within economies. As economies develop, they may add to at 93 in the overall ease of doing business or improve on regulations that protect ranking. Its ranking is 12 on the ease of DOING BUSINESS AS A investor and property rights. Many also getting credit, 20 on the ease of register- BENCHMARKING EXERCISE tend to streamline existing regulations ing property and 34 on the ease of getting By capturing key dimensions of regula- and prune outdated ones. One finding electricity. At the same time, it has a rank- tory regimes, Doing Business provides a of Doing Business is that dynamic and ing of 124 on the ease of paying taxes, 158 rich opportunity for benchmarking. Such growing economies continually reform on the strength of investor protections a benchmarking exercise is necessarily in- and update their business regulations and and 172 on the ease of starting a business complete, just as the Doing Business data the implementation of those regulations, (see figure 1.2 in the executive summary). are limited in scope. It is useful when it while many poor economies still work aids judgment, but not when it supplants with regulatory systems dating to the late WHAT 10 YEARS judgment. 1800s. OF DATA SHOW Since 2006 Doing Business has sought to A growing body of empirical research For reform-minded governments, how provide 2 perspectives on the data it col- shows that particular areas of business much the regulatory environment for lo- lects: it presents “absolute” indicators for regulation, and particular regulatory re- cal entrepreneurs improves in an absolute each economy for each of the 11 regula- forms in those areas, are associated with sense matters far more than their econo- tory topics it addresses, and it provides vital social and economic outcomes— my’s ranking relative to other economies. rankings of economies for 10 topics, by including firm creation, employment, To aid in assessing the absolute level of formality, international trade, access topic and also in the aggregate. Judgment regulatory performance and how it im- to financial services and the survival of is required in interpreting these measures proves over time, this year’s report again struggling but viable firms.16 This research for any economy and in determining a presents the distance to frontier measure. has been made possible by a decade of sensible and politically feasible path for This measure shows the distance of Doing Business data combined with other regulatory reform. each economy to the “frontier,” which data sets. Some 1,245 research articles Reviewing the Doing Business rankings in represents the highest performance published in peer-reviewed academic isolation may reveal unexpected results. observed on each of the indicators across journals, and about 4,071 working papers Some economies may rank unexpect- all economies included in Doing Business available through Google Scholar, refer to edly high on some topics. And some since 2003. the Doing Business data.17 ABOUT DOING BUSINESS: MEASURING FOR IMPACT 21 Determining the empirical impact of utilities and communications.22 Empirical • In India a study found that the pro- regulatory reforms is not easy. One pos- evidence also suggests that more effi- gressive elimination of the “license sible approach is cross-country correla- cient business entry regulations improve raj”—the system regulating entry and tion analysis. But with this method it is firm productivity and macroeconomic production in industry—led to a 6% difficult to isolate the effect of a particular performance.23 increase in new firm registrations.30 regulatory reform because of all the other Another study found that simpler entry factors that may vary across economies Lower costs for business registration improve regulation and labor market flexibility and that may not have been taken into formal employment opportunities. Because were complementary: in Indian states account in the analysis. How then do new firms are often set up by high-skilled with more flexible employment regula- researchers determine whether social or workers, lowering entry costs often leads tions informal firms decreased by 25% economic outcomes would have been to higher take-up rates for education, more, and real output grew by 18% different without a specific regulatory re- more jobs for high-skilled workers and more, than in states with less flexible form? A growing number of studies have higher average productivity.24 And by regulations.31 A third study found that been able to investigate such questions increasing formal registration, it can also the licensing reform resulted in an ag- by analyzing regulatory changes within a boost legal certainty—because the newly gregate productivity increase of 22% country over time or by using panel esti- formal firms are now covered by the legal among the firms affected.32 mations. Others have focused on regula- system, benefiting themselves as well as • In Portugal the introduction of a one- tory reforms relevant only for particular their customers and suppliers.25 stop shop for businesses led to a 17% firms or industries within a country. The increase in new firm registrations. The broader literature, using a range of differ- Country-specific studies confirm that reform favored mostly small-scale ent empirical strategies, has produced a simplifying entry regulations can promote entrepreneurs with low levels of educa- number of interesting findings, including the establishment of new formal sector tion operating in low-tech sectors such those described below. firms: as agriculture, construction and retail.33 • In Colombia the introduction of one- Smarter business regulation promotes stop shops for business registration in An effective regulatory environment im- economic growth. Economies with better different cities across the country was proves trade performance. Strengthening business regulation grow faster. One followed by a 5.2% increase in new the institutional environment for study found that for economies in the firm registrations.26 trade—such as by increasing customs best quartile of business regulation as efficiency—can boost trade volumes.34 measured by Doing Business, the differ- • In Mexico a study analyzing the effects In Sub-Saharan Africa an inefficient trade ence in business regulation with those of a program simplifying municipal environment was found to be among the in the worst quartile is associated with a licensing found that it led to a 5% main factors in poor trade performance.35 2.3 percentage point increase in annual increase in the number of registered One study found that a 1-day reduction in growth rates.18 Another found that regula- businesses and a 2.2% increase in inland travel times leads to a 7% increase tory reforms making it easier to do busi- employment. Moreover, competition in exports.36 Another found that among ness in relatively low-income economies from new entrants lowered prices by the factors that improve trade perfor- are associated with an increase in growth 0.6% and the income of incumbent mance are access to finance, the quality rates of 0.4 percentage point in the fol- businesses by 3.2%.27 A second study of infrastructure and the government’s lowing year.19 found that the program was more ability to formulate and implement sound effective in municipalities with less policies and regulations that promote Simpler business registration promotes corruption and cheaper additional private sector development.37 The same greater entrepreneurship and firm pro- registration procedures.28 Yet another study showed that the more constrained ductivity. Economies that have efficient business registration also tend to have found that simpler licensing may result economies are in their access to foreign a higher entry rate by new firms and in both more wage workers and more markets, the more they can benefit from greater business density.20 Faster busi- formal enterprises, depending on the improvements in the investment climate. ness registration is associated with more personal characteristics of informal Yet another study found that improve- businesses registering in industries with business owners: those with charac- ments in transport efficiency and the the strongest potential for growth, such teristics similar to wage workers were business environment have a greater as those experiencing expansionary more likely to become wage workers, marginal effect on exports in lower- global demand or technology shifts.21 And while those with characteristics similar income economies than in high-income easier start-up is associated with more to entrepreneurs in the formal sector ones.38 One study even suggests that investment in industries often sheltered were more likely to become formal behind-the-border measures to improve from competition, including transport, business owners.29 logistics performance and facilitate trade 22 DOING BUSINESS 2013 may have a larger effect on trade, espe- • Brazil’s extensive bankruptcy reform the Doing Business project began. But cially on exports, than tariff reduction in 2005 was associated with a 22% Doing Business made it easier by creating would.39 reduction in the cost of debt and a a common language comparing business 39% increase in the aggregate level of regulations around the world. Other areas of regulation matter for trade credit.47 performance. Economies with good con- Over the past 10 years governments • Introducing streamlined mechanisms tract enforcement tend to produce and worldwide have been actively improving for reorganization has been shown export more customized products than the regulatory environment for domestic to reduce the number of liquidations those with poor contract enforcement.40 companies. Most reforms relating to because it encourages more viable Since production of high-quality output Doing Business topics have been nested firms to opt for reorganization. Indeed, is a precondition for firms to become in broader reform programs aimed at it reduced the number of liquidations exporters, reforms that lower the cost of enhancing economic competitiveness, as by 14% in Colombia and by 8.4% in high-quality production increase the posi- in Colombia, Kenya and Liberia. In struc- Belgium.48 One important feature of tive effect of trade reforms.41 Moreover, turing reform programs for the business Colombia’s new system is that it bet- reforms removing barriers to trade need environment, governments use multiple ter distinguishes between viable and to be accompanied by other reforms, data sources and indicators. This recog- nonviable firms, making it more likely such as those making labor markets more nizes the reality that the Doing Business that financially distressed but funda- flexible, to increase productivity and data on their own provide an incomplete mentally viable firms will survive. growth.42 roadmap for successful business regula- • Improving investor protections, tion reforms.50 It also reflects the need to Sound financial market infrastructure— developing financial markets and respond to many stakeholders and inter- including courts, creditor and insolvency promoting more active markets for cor- porate control reduce the persistence est groups, all of whom bring important laws, and credit and collateral registries— of family-controlled firms over time, issues and concerns to the reform debate. improves access to credit. Businesses worldwide identify access to credit as one expanding opportunity for firms with When the World Bank Group engages with of the main obstacles they face.43 Good more diversified capital structures.49 governments on the subject of improving credit information systems and strong the investment climate, the dialogue aims collateral laws help overcome this ob- HOW GOVERNMENTS USE to encourage the critical use of the Doing stacle. An analysis of reforms improving DOING BUSINESS Business data—to sharpen judgment collateral law in 12 transition economies Doing Business offers policy makers a and promote broad-based reforms that concludes that they had a positive effect benchmarking tool useful in stimulating enhance the investment climate rather on the volume of bank lending.44 Greater policy debate, both by exposing poten- than a narrow focus on improving the information sharing through credit tial challenges and by identifying good Doing Business rankings. The World Bank bureaus is associated with higher bank practices and lessons learned. The initial Group uses a vast range of indicators and profitability and lower bank risk. And debate on the results highlighted by the analytics in this policy dialogue, including stronger creditor rights and the existence data typically turns into a deeper discus- its Global Poverty Monitoring Indicators, of public or private credit registries are sion on the relevance of the data to the World Development Indicators, Logistics associated with a higher ratio of private economy and on areas where business Performance Indicators and many others. credit to GDP.45 regulation reform is needed, including The open data initiative has made data areas well beyond those measured by for many such indicators conveniently Country-specific studies confirm that Doing Business. available to the public at http:/ /data efficient debt recovery and exit processes are key in determining credit conditions .worldbank.org. Reform-minded governments seeking and in ensuring that less productive firms success stories in business regulation are either restructured or exit the market: refer to Doing Business for examples (box METHODOLOGY AND DATA • In India the establishment of special- 2.2). Saudi Arabia, for example, used The Doing Business data are based on ized debt recovery tribunals had a the company law of France as a model domestic laws and regulations as well range of positive effects, including for revising its own law. Many African as administrative requirements. The data speeding up the resolution of debt re- governments look to Mauritius—the cover 185 economies—including small covery claims, allowing lenders to seize region’s strongest performer on Doing economies and some of the poorest more collateral on defaulting loans, Business indicators—as a source of good economies, for which little or no data increasing the probability of repayment practices to inspire regulatory reforms in are available in other data sets. (For a by 28% and reducing interest rates on their own countries. Governments shared detailed explanation of the Doing Business loans by 1–2 percentage points.46 knowledge of business regulations before methodology, see the data notes.) ABOUT DOING BUSINESS: MEASURING FOR IMPACT 23 insolvency—the time component and BOX 2.2 HOW ECONOMIES HAVE USED DOING BUSINESS IN REGULATORY REFORM part of the cost component (where fee PROGRAMS schedules are lacking) are based on ac- To ensure the coordination of efforts across agencies, such economies as Brunei tual practice rather than the law on the Darussalam, Colombia and Rwanda have formed regulatory reform committees, re- porting directly to the president. These committees use the Doing Business indicators as books. This introduces a degree of judg- one input to inform their programs for improving the business environment. More than ment. The Doing Business approach has 35 other economies have formed such committees at the interministerial level. In East therefore been to work with legal prac- and South Asia they include India; Korea; Malaysia; the Philippines; Taiwan, China; and titioners or professionals who regularly Vietnam. In the Middle East and North Africa: Morocco, Saudi Arabia and the United undertake the transactions involved. Arab Emirates. In Eastern Europe and Central Asia: Georgia, Kazakhstan, Kosovo, the Kyrgyz Republic, the former Yugoslav Republic of Macedonia, Moldova, Montenegro Following the standard methodological and Tajikistan. In Sub-Saharan Africa: Botswana, Burundi, the Central African Republic, approach for time-and-motion stud- the Comoros, the Democratic Republic of Congo, the Republic of Congo, Côte d’Ivoire, ies, Doing Business breaks down each Kenya, Liberia, Malawi, Mali, Nigeria, Sierra Leone, Togo and Zambia. And in Latin process or transaction, such as starting America: Chile, the Dominican Republic, Guatemala, Mexico, Panama and Peru. Since a business or registering a building, 2003 governments have reported more than 350 regulatory reforms that have been informed by Doing Business.1 into separate steps to ensure a better Many economies share knowledge on the regulatory reform process related to the estimate of time. The time estimate for areas measured in Doing Business. Among the most common venues for this knowl- each step is given by practitioners with edge sharing are peer-to-peer learning events—workshops where officials from dif- significant and routine experience in ferent governments across a region or even across the globe meet to discuss the chal- the transaction. When time estimates lenges of regulatory reform and share their experiences. In recent years such events differ, further interactions with respon- have taken place in Colombia (for Latin America and the Caribbean), in Rwanda (for Sub-Saharan Africa), in Georgia (for Eastern Europe and Central Asia), in Malaysia (for dents are pursued to converge on one East Asia and the Pacific) and in Morocco (for the Middle East and North Africa). In estimate that reflects the majority of addition, regional organizations such as APEC, featured in a case study in this year’s applicable cases. report, use the Doing Business data as a tool and common language to set an agenda for business regulation reform. The Doing Business approach to data col- 1. These are reforms for which Doing Business is aware that information provided by the Doing lection contrasts with that of firm surveys, Business report was used in shaping the reform agenda. which capture perceptions and experi- ences of businesses. A corporate lawyer registering 100–150 businesses a year will Doing Business respondents answer the surveys related to trading be more familiar with the process than an Over the past 10 years more than 18,000 across borders, taxes and construction entrepreneur, who will register a business professionals in 185 economies have as- permits. Certain public officials (such as only once or maybe twice. A bankruptcy sisted in providing the data that inform registrars from the commercial or prop- attorney or judge dealing with dozens of the Doing Business indicators. This year’s erty registry) also provide information cases a year will have more insight into report draws on the inputs of more than that is incorporated into the indicators. bankruptcy than a company that may 9,600 professionals.51 Table 20.2 in the Information sources for the data undergo the process once. data notes lists the number of respon- dents for each indicator set. The Doing Most of the Doing Business indicators Development of the methodology Business website shows the number of are based on laws and regulations. In The methodology for calculating each respondents for each economy and each addition, most of the cost indicators are indicator is transparent, objective and indicator. Respondents are professionals backed by official fee schedules. Doing easily replicable. Leading academics who routinely administer or advise on Business respondents both fill out written collaborate in the development of the the legal and regulatory requirements questionnaires and provide references indicators, ensuring academic rigor. Eight covered in each Doing Business topic. to the relevant laws, regulations and of the background papers underlying the They are selected on the basis of their fee schedules, aiding data checking and indicators have been published in leading expertise in the specific areas covered by quality assurance. Having representative economic journals.52 Doing Business. Because of the focus on samples of respondents is not an issue, as legal and regulatory arrangements, most the texts of the relevant laws and regula- Doing Business uses a simple averaging of the respondents are legal professionals tions are collected and answers checked approach for weighting component such as lawyers, judges or notaries. The for accuracy. indicators and calculating rankings and credit information survey is answered by the distance to frontier measure. Other officials of the credit registry or bureau. For some indicators—for example, approaches were explored, including Freight forwarders, accountants, archi- those on dealing with construction per- using principal components and unob- tects, engineers and other professionals mits, enforcing contracts and resolving served components.53 They turn out to 24 DOING BUSINESS 2013 yield results nearly identical to those Data adjustments (2008), input from the International of simple averaging. In the absence of a Tax Dialogue and regular input from the All changes in methodology are explained Indicators Advisory Group. strong theoretical framework that assigns in the data notes as well as on the Doing 6. http://www.doingbusiness.org. different weights to the topics covered Business website. In addition, data time for the 185 economies by Doing Business, 7. Local experts in 185 economies are series for each indicator and economy are surveyed annually to collect and the simplest method is used: weighting available on the website, beginning with update the data. The local experts all topics equally and, within each topic, the first year the indicator or economy for each economy are listed on the giving equal weight to each of the topic was included in the report. To provide a Doing Business website (http://www components (for more details, see the .doingbusiness.org) and in the comparable time series for research, the chapter on the ease of doing business and acknowledgments at the end of data set is back-calculated to adjust for this report. distance to frontier).54 changes in methodology and any revi- 8. De Soto 2000. sions in data due to corrections. The data Improvements to the 9. Schneider 2005; La Porta and Shleifer set is not back-calculated for year-to-year 2008. methodology revisions in income per capita data (that 10. Amin 2011. The methodology has undergone con- is, when the income per capita data are 11. http://www.enterprisesurveys.org. tinual improvement over the years. For revised by the original data sources, Doing 12. Narayan and others 2000. enforcing contracts, for example, the Business does not update the cost mea- 13. OECD, “Indicators of Product Market amount of the disputed claim in the case sures for previous years). The website Regulation,” http://www.oecd.org/. study was increased from 50% of income The measures are aggregated into also makes available all original data sets per capita to 200% after the first year of 3 broad families that capture state used for background papers. data collection, as it became clear that control, barriers to entrepreneurship smaller claims were unlikely to go to Information on data corrections is provid- and barriers to international trade and court. investment. The 39 countries included ed in the data notes and on the website. A in the OECD market regulation indica- transparent complaint procedure allows tors are Australia, Austria, Belgium, Another change related to starting a anyone to challenge the data. If errors Brazil, Canada, Chile, China, the Czech business. The minimum capital require- Republic, Denmark, Estonia, Finland, are confirmed after a data verification ment can be an obstacle for potential France, Germany, Greece, Hungary, process, they are expeditiously corrected. entrepreneurs. Doing Business measured Iceland, India, Ireland, Israel, Italy, the required minimum capital regardless Japan, Korea, Luxembourg, Mexico, the of whether it had to be paid up front or Netherlands, New Zealand, Norway, NOTES Poland, Portugal, Russia, the Slovak not. In many economies only part of the 1. World Bank 2005; Stampini and others Republic, Slovenia, South Africa, Spain, minimum capital has to be paid up front. 2011. Sweden, Switzerland, Turkey, the United To reflect the relevant barrier to entry, the 2. See, for example, Alesina and others Kingdom and the United States. paid-in minimum capital has been used (2005); Perotti and Volpin (2005); 14. The World Economic Forum’s Global rather than the required minimum capital. Fisman and Sarria-Allende (2010); Competitiveness Report uses Doing Antunes and Cavalcanti (2007); Business data sets on starting a busi- This year’s report includes an update in Barseghyan (2008); Klapper, Lewin ness, employing workers, protecting and Quesada Delgado (2009); Freund investors and getting credit (legal the ranking methodology for paying taxes. and Bolaky (2008); Chang, Kaltani and rights), representing 7 of a total of 113 Last year’s report introduced a threshold Loayza (2009); Helpman, Melitz and different indicators (or 6.19%). for the total tax rate for the purpose of Rubinstein (2008); Klapper, Laeven and 15. Hallward-Driemeier, Khun-Jush and calculating the ranking on the ease of pay- Rajan (2006); World Bank (2005); and Pritchett (2010), analyzing data from ing taxes. This change came as a result of Ardagna and Lusardi (2010). World Bank Enterprise Surveys for consultations on the survey instrument 3. This includes Djankov and others Sub-Saharan Africa, show that de (2002); Djankov, McLiesh and Shleifer jure measures such as Doing Business and methodology for the paying taxes (2007); Djankov, La Porta and others indicators are virtually uncorrelated indicators with external stakeholders, (2008); Djankov, Freund and Pham with ex post firm-level responses, including participants in the International (2010); Djankov and others (2003); providing evidence that deals rather Tax Dialogue. All economies with a total Djankov, Hart and others (2008); than rules prevail in Africa. The authors tax rate below the threshold (which is Botero and others (2004); and Djankov find that the gap between de jure and de and others (2010). facto conditions grows with the formal calculated and adjusted on a yearly basis) 4. For more details on how the aggregate regulatory burden. The evidence also now receive the same ranking on the total ranking is created, see the chapter on shows that more burdensome processes tax rate indicator. This year’s threshold is the ease of doing business and distance open up more space for making deals set at the 15th percentile of the total tax to frontier. and that firms may not incur the official rate distribution, which translates into a 5. This has included a review by the World costs of compliance but still pay to threshold for the total tax rate of 25.7%. Bank Independent Evaluation Group avoid them. ABOUT DOING BUSINESS: MEASURING FOR IMPACT 25 16. Much attention has been given to 27. Bruhn 2011. their resources and the credit supply exploring links to microeconomic 28. Kaplan, Piedra and Seira 2007. becomes elastic. outcomes, such as firm creation and 29. Bruhn 2012. employment. Recent research focuses 47. Funchal 2008. on how business regulations affect the 30. Aghion and others 2008. 48. Giné and Love (2010) on Colombia; behavior of firms by creating incentives 31. Sharma 2009. (or disincentives) to register and oper- Dewaelheyns and Van Hulle (2008) on 32. Chari 2011. ate formally, to create jobs, to innovate 33. Branstetter and others 2010. Belgium. and to increase productivity. For details, 34. Djankov, Freund and Pham 2010. 49. Franks and others 2011. see Djankov and others (2002); Alesina and others (2005); Banerjee and Duflo 35. Iwanow and Kirkpatrick 2009. 50. One recent study using Doing Business (2005); Perotti and Volpin (2005); 36. Freund and Rocha 2011. indicators illustrates the difficulties in Klapper, Laeven and Rajan (2006); 37. Seker 2011. Fisman and Sarria-Allende (2010); using highly disaggregated indicators 38. Portugal-Perez and Wilson 2011. Antunes and Cavalcanti (2007); to identify reform priorities (Kraay and 39. Hoekman and Nicita 2011. Barseghyan (2008); Eifert (2009); Tawara 2011). Klapper, Lewin and Quesada Delgado 40. Nunn 2007. (2009); Djankov, Freund and Pham 41. Rauch 2010. 51. While about 9,600 contributors (2010); Klapper and Love (2011a); Chari 42. Chang, Kaltani and Loayza 2009; Cuñat provided data for this year’s report, (2011); and Bruhn (2011). and Melitz 2007. many of them completed a survey for 17. According to searches for citations of 43. http://www.enterprisesurveys.org. more than one Doing Business indicator the 9 background papers that serve as 44. Haselmann, Pistor and Vig 2010. set. Indeed, the total number of surveys the basis for the Doing Business indica- The countries studied were Bulgaria, tors in the Social Science Citation Index completed for this year’s report is more Croatia, the Czech Republic, Estonia, and on Google Scholar (http://scholar than 12,000, which represents a truer Hungary, Latvia, Lithuania, Poland, .google.com). Romania, the Slovak Republic, Slovenia measure of the inputs received. The 18. Djankov, McLiesh and Ramalho 2006. and Ukraine. average number of surveys per indicator 19. Eifert 2009. 45. Djankov, McLiesh and Shleifer 2007; 20. Klapper, Lewin and Quesada Delgado Houston and others 2010. set and economy is just under 6. 2009. Entry rate refers to newly 46. Visaria 2009. In a follow-up study, von For more details, see http://www registered firms as a percentage of total Lilienfeld-Toal, Mookherjee and Visaria .doingbusiness.org/contributors/ registered firms. Business density is de- (2012) found that the average effects doing-business. fined as the total number of businesses identified by Visaria (2009) differ as a percentage of the working-age between wealthy and poor borrowers 52. All background papers are available on population (ages 18–65). when the credit supply is inelastic the Doing Business website (http://www 21. Ciccone and Papaioannou 2007. (because of limits in such resources .doingbusiness.org). 22. Alesina and others 2005. as funds, staff and information). In particular, they found that in the short 53. For more details, see the chapter on the 23. Loayza, Oviedo and Servén 2005; Barseghyan 2008. term after the debt recovery tribunals ease of doing business and distance to are introduced, borrowers with less 24. Dulleck, Frijters and Winter-Ebmer frontier. collateral may experience a reduction 2006; Calderon, Chong and Leon 2007; in access to credit while those with 54. A technical note on the different Micco and Pagés 2006. more collateral may experience an aggregation and weighting methods is 25. Masatlioglu and Rigolini 2008; Djankov increase. But the authors also point out 2009. that this short-term effect disappears available on the Doing Business website 26. Cardenas and Rozo 2009. over time as banks are able to increase (http://www.doingbusiness.org). 26 Colombia: sustaining reforms over time ƒ Colombia’s experience shows the Over the past several decades Colombia in August 2010, the new government, importance of sustaining reform has pursued a broad range of structural led by President Juan Manuel Santos, efforts over time and adjusting and institutional reforms. The emphasis has been pushing forward an economic them to the changing needs of the has shifted over the years, reflecting the reform agenda through the “Prosperity economy, whether at the national priorities of different administrations and for All” national development plan for or local level. the perceived needs of the economy. In 2010–14. The plan’s overall goals are the 1980s and early 1990s much of the to reduce poverty, increase income, ƒ Colombia is a regional leader in focus was on macroeconomic manage- generate employment, improve security, narrowing the gap with the world’s ment.1 As progress was made in laying ensure the sustainable use of natural re- most efficient regulatory practice. a firm foundation of macroeconomic sources and improve the quality of the ƒ Over time, the focus of Colombia’s stability, the focus shifted to other ar- business environment.4 reform efforts has shifted from eas. The government gave particular reducing the cost and complexity SUSTAINED EFFORT emphasis to policies and institutions of business regulation to AT THE NATIONAL LEVEL seen as central to enhancing productivity strengthening legal institutions. and growth and boosting the country’s As Colombia has improved its business ƒ Colombia’s most notable competitiveness. As part of this, it set regulatory environment, results have regulatory improvements have in motion reforms aimed at improving shown in Doing Business indicators— been in the areas of starting a the regulatory framework and the rules including those on starting a business, business, paying taxes, protecting underpinning private sector activity. The paying taxes, protecting investors and investors and resolving insolvency. Ministry of Commerce, Industry and resolving insolvency. Indeed, thanks ƒ While development hurdles Tourism led a coordinated reform effort to its sustained efforts, Colombia has remain, Colombia’s regulatory bringing together government agencies, made greater progress toward the reforms have increased its the Congress and the judiciary as well as frontier in regulatory practice since competitiveness and have had local the private sector. 2005 than any other Latin American and regional “spillover” effects. economy (figure 3.1). In 2007 Colombia’s government further institutionalized its commitment to regu- Other indicators also reflect the im- latory reform by establishing the Private provements. The total number of newly Council for Competitiveness. A public- registered businesses in the country private partnership, the council is made rose from 33,752 in 2006 to 57,768 up of business associations and private in 2011.5 Colombia’s performance on sector players working closely with the several relevant measures compiled by government to promote sound, business- the Worldwide Governance Indicators friendly regulatory practices.2 project improved between 2002 and 2010—including the Rule of Law Index Recent administrations have continued (reflecting perceptions of the extent to use national development plans to to which firms have confidence in and establish a clear economic agenda. In abide by the rules of society) and the 2009 President Alvaro Uribe highlighted Regulatory Quality Index (capturing Colombia’s progress and his govern- perceptions of the government’s abil- ment’s plans for new regulatory reforms ity to formulate and implement sound aimed at further gains in competitive- policies and regulations that permit and ness.3 And since the change of legislature promote private sector development).6 COLOMBIA: SUSTAINING REFORMS OVER TIME 27 FIGURE 3.1 Colombia has outpaced the region in advancing toward the frontier in regulatory practice Progress in narrowing distance to frontier since 2005 (percentage points) 5 15.3 0 10.4 10.1 9.4 8.8 8.8 Antigua and Barbuda St. Kitts and Nevis 6.7 6.6 6.6 6.5 Venezuela, RB 5 4.6 4.3 3.9 3.9 3.6 3.6 2.6 2.5 1.7 1.5 1.4 1.4 0.6 0.5 0.0 0 1.2 1.1 0.9 0.9 5 Colombia Guatemala Peru Mexico Uruguay Dominican Republic Costa Rica Nicaragua Honduras Paraguay Jamaica El Salvador Latin America & Caribbean average Ecuador Chile Haiti Trinidad and Tobago Puerto Rico (U.S.) Bolivia Guyana Grenada Belize Panama Argentina Dominica St. Vincent and the Grenadines Brazil St. Lucia Suriname -0.5 -0.5 -3.7 Guatemala Peru lombia Dominican Mexico Uruguay Republic Rica Latin CostaNicaragua Honduras America Paraguay Jamaica El Salvador & Caribbean average Ecuador Trinidad Puerto and Chile Haiti Tobago Rico (U.S.) Guyana Bolivia Grenada St. Vincent Belize Panama and the Dominica ArgentinaGrenadinesBrazil St. St.Antigua Kitts Suriname Lucia and and Venezuela, Barbuda RB Nevis Note: The distance to frontier measure shows how far on average an economy is from the best performance achieved by any economy on each Doing Business indicator since 2005. The measure is normalized to range between 0 and 100, with 100 representing the best performance (the frontier). The figure shows the absolute difference for each economy between its distance to frontier in 2005 and that in 2012. No data are shown for The Bahamas and Barbados, which were added to the Doing Business sample after 2005. Source: Doing Business database. And Colombia’s ranking on the ease of Choosing a reform path reforms, it first completed those aimed doing business rose from 79 among the While Colombia simultaneously pur- at streamlining business regulation and 175 economies included in 2006 to 45 sued very different types of regulatory reducing its cost to companies. Until among the 185 included in 2012. 2008 the focus was largely on reducing transactions costs, such as by simplify- ing business start-up procedures or tax FIGURE 3.2 A trend toward stronger legal institutions and less expensive regulatory processes in Colombia administration. These types of reforms Average distance to frontier in sets of Doing Business indicators have continued since 2008, but the focus has shifted toward strengthening legal Stronger Stronger legal institutions but more Stronger legal institutions and simpler and institutions such as bankruptcy systems complex and expensive regulatory processes less expensive regulatory processes and investor protections (figure 3.2). Strength of legal institutions 2012 This sequencing of reforms is not unusu- al. Many economies have focused first on simplifying regulatory transactions 2006 for businesses, then moved on to more 2012 complex and time-consuming reforms 2006 aimed at improving legal institutions such as court systems. Such reforms require more sustained efforts, often over Weaker Weaker legal institutions and more Weaker legal institutions but simpler and a period of several years. complex and expensive regulatory processes less expensive regulatory processes Encouraging business start-ups Complex and Complexity and cost Simple and expensive of regulatory processes inexpensive Regulatory reforms implemented by Colombia Global average Colombia in recent years have made a clear difference in the ease of starting a Note: Strength of legal institutions refers to the average distance to frontier in getting credit, protecting investors, enforcing business as measured by Doing Business. contracts and resolving insolvency. Complexity and cost of regulatory processes refers to the average distance to frontier in starting a business, dealing with construction permits, registering property, paying taxes and trading across borders. The They have reduced the time required to distance to frontier measure shows how far on average an economy is from the best performance achieved by any economy on each Doing Business indicator since 2005. start a business from 60 days to 14, the Source: Doing Business database. cost from 28% of income per capita to 28 DOING BUSINESS 2013 8% and the number of procedures from FIGURE 3.3 Starting a business is now faster and less costly in Colombia 19 to 9 in 2011 (figure 3.3). Procedures (number) Cost (% of income Time (days) per capita) The introduction and subsequent upgrades 50 70 of one-stop shops for business registration at chambers of commerce account for 60 40 much of the change. The first one-stop 50 shops started to operate in May 2003. As 30 the changes in the start-up process yielded 40 positive results, the government continued 30 20 to improve it. In 2005, for example, Law 962—the “antitrámites“ (“antipaperwork”) 20 10 law—eliminated around 80 bureaucratic 10 processes required to start a business and 0 0 introduced a provision preventing govern- 2003 2004 2005 2006 2007 2008 2009 2010 2011 ment agencies from creating new proce- Procedures Time Cost dures. It also simplified the procedures required by allowing electronic submission Source: Doing Business database. of documents and eliminating the need to have signatures notarized. payments. This form simplified tax Thanks to these continued efforts, paying compliance for Colombian businesses by taxes as measured by Doing Business be- More improvements came in 2010. A new combining into a single online payment came considerably easier between 2004 public-private health provider, Nueva EPS, replaced the previous provider admin- all contributions for social security, the and 2010. The number of payments fell istered by the Social Security Institute. from 69 a year to 9, and the time needed welfare security system and labor risk The new system enables employers and to prepare and file taxes from 456 hours insurance. employees to register for health services a year to 193. And the total tax rate de- in just 1 week. In addition, Colombia in- To further improve and simplify tax com- clined from 82.1% of profit to 74.8% in troduced online preenrollment for new this period (figure 3.4). pliance, in 2010 the government made companies, making registration faster electronic filing of corporate income tax Enhancing investor protections and simpler. and value added tax mandatory for firms Starting in 2005, Colombia implemented New regulations recently introduced a with annual sales exceeding 500 million 3 major legal reforms aimed at strength- progressive fee schedule for new compa- Colombian pesos (about $280,000) in or ening investor protections. In 2005 nies.7 The fee schedule exempts new firms after 2008. Colombia enacted Law 964, providing from up-front payment of regulatory fees during their first few years of operation. FIGURE 3.4 Colombia has made tax compliance simpler for businesses And the start-up fee associated with the commercial license is no longer required. Payments (number per year) Total tax rate Time (hours per year) (% of profit) Simplifying tax compliance 500 100 Over the years Colombia has greatly improved its tax and social security com- 400 80 pliance processes. In 2002, as the gov- ernment realized that about a third of its 300 60 potential revenue from corporate income, personal income and value added taxes 200 40 went uncollected, it decided to introduce an electronic payment system in an at- 100 20 tempt to lower tax evasion.8 0 0 In 2009 the government lowered cor- 2004 2005 2006 2007 2008 2009 2010 porate income tax rates and introduced Payments Time Total tax rate an online form for social contribution Source: Doing Business database. COLOMBIA: SUSTAINING REFORMS OVER TIME 29 FIGURE 3.5 Legal and regulatory changes have strengthened investor protections in Colombia imposed more stringent time limits for negotiating reorganization agreements. 10 In 2009 the government issued several 8 decrees as part of continued efforts to better regulate the profession of in- 6 solvency administrators. In addition, it introduced an electronic filing system 4 to make insolvency proceedings faster and more efficient. And it eliminated the requirement to submit financial state- 2 ments to request reorganization in cases where these statements had previously 0 2005 2006 2007 2008 2009 2010 2011 been submitted to the Superintendence Ease of shareholder suits index (0–10) Strength of investor protection index (0–10) of Companies. Extent of disclosure index (0–10) Extent of director liability index (0–10) Source: Doing Business database. Improving other areas of regulation Colombia has also made improvements a modern framework for capital market measures the approval and disclosure in other areas of regulation. In 1995 the activity. The law encourages better cor- regime for related-party transactions; country undertook a complete overhaul porate governance practices by requiring figure 3.5). greater transparency and disclosure, eq- of its construction approvals. It moved uitable treatment of minority sharehold- Making insolvency the administration of building permits ers and more effective boards of directors. proceedings more efficient out of the state-run planning office into Colombia’s insolvency reforms began the private domain, becoming the first In 2007 the government amended almost 2 decades ago. In 1995 the enact- economy in Latin America to privatize the Colombia’s securities regulation. Decree ment of Law 222, allowing debtors and review process. This move carried risks, 3139 requires listed companies to report creditors to resolve disputes before the but public and private stakeholders in the more information to investors. Before, Superintendence of Companies, helped country were calling for comprehensive listed companies had to report any “rel- ease the burden on the judiciary. In change. evant” or “extraordinary” event—a sub- 1999 changes to the reorganization law jective standard open to abuse. Although improved the existing corporate reor- Bogotá’s mayor first appointed 5 ad hoc the decree still includes the broad “rel- ganization proceedings and introduced “urban curators,” all architects or engi- evant” requirement, it lists specific events new time limits for negotiations. These neers with construction experience, to that must be disclosed to the financial changes increased the efficiency of the review building permit applications. Soon authorities. It also requires companies to bankruptcy system and improved its ca- after, a more transparent, merit-based report extensive information before going pacity to distinguish between viable and hiring system was established that is still public. nonviable businesses.9 in place. Potential curators now undergo a selection process that includes exams In 2010 the government made further Another series of insolvency reforms took and interviews with public and private progress by amending the company law. place in the past 6 years. Thanks to these sector experts. Privatizing the issuance of The amendments clarified the liability reforms, creditors’ recovery rate rose building permits improved timeliness and regime for company directors involved in from 56 cents on the dollar to 76 and the related-party transactions that harm the freed up the planning office’s resources. time to complete a liquidation proceeding company. Now directors can be forced to fell from 3 years to 1.3. In other regulatory areas, introducing pay damages and disgorge profits made The reforms began with a comprehensive electronic systems made processes eas- from such transactions. revision of the insolvency proceedings ier. When registering property, a business As a result of these changes, Colombia’s available. In 2007 authorities introduced can now obtain online certification of scores have improved on both the extent 2 new proceedings: a reorganization valuation, ownership and good standing of director liability index (which measures procedure to restructure insolvent for property taxes. And for properties with the liability of company executives for companies and a mandatory liquidation no liens, it can submit online certificates abusive related-party transactions) and procedure. And a new insolvency law directly to the land registry. Certificates the extent of disclosure index (which have no cost if requested online. 30 DOING BUSINESS 2013 An electronic data interchange system Neiva’s local government also set up at boosting productivity. The steady pace was introduced for exports, making it one-stop shops for registering new of change led to the development of the possible to centralize electronic data. companies. This eliminated 11 procedures broader competitiveness agenda and the The new system also allows traders to and reduced the time required to register creation of a public-private partnership pay duties electronically, eliminating the a business from 32 days to 8. The suc- aimed at promoting business-friendly need to go to a bank to submit payments. cess of the one-stop shops has been due regulatory practices. And it allows shippers to share informa- largely to cooperation between municipal tion with customs electronically, so that and national government departments. Yet despite the government’s sustained customs declarations can be processed efforts, and its success in improving the before the vessel even arrives at the port. Medellín is another city that substantially business climate and implementing an Most importantly, since 2008 Colombia improved its business regulatory environ- ambitious competitiveness agenda, a has implemented improvements to the ment. The city government cut 3 proce- number of challenges remain. Addressing Single Window for Foreign Trade (VUCE) dures required to start a business by im- income inequality remains a key priority, system. The system now connects over proving one-stop shops and eliminating in part because it would strengthen sup- the requirement for a land use certificate. port in the business community and in a dozen government agencies that are And it made registering property easier civil society for the government’s overall involved in import and export procedures. by merging 2 certificates and eliminating development strategies. a stamp previously required as proof of SPILLOVER TO THE While the country has more development registration tax compliance. LOCAL LEVEL hurdles to overcome, the measures taken Colombia has been actively reforming over the past years have greatly improved CONCLUSION its regulatory environment at the local its competitiveness. The regulatory Colombia’s commitment to regulatory re- as well as the national level. Local efforts reforms may take more time to show full form has led to substantial improvements have been inspired in part by a subnation- results in all areas of doing business, in the quality of the business environment al study. Carried out through the National but they have already led to substantial and a more solid foundation for private Department of Planning, the 2008 study immediate benefits. Colombia’s reform sector development. Its experience shows was designed to analyze the regulatory agenda is expected to continue to the importance of sustaining reform ef- environment in different regions with the expand—and to inspire further improve- forts over time and adjusting them to the aim of improving regional competitive- ments in the region. changing needs of the economy. Initially, ness across the country. The study was most of the regulatory reforms took place also intended to enable Colombian cities at the national level. But as the business NOTES to learn from one another and adopt good environment continued to improve, the This case study was written by Valentina practices from elsewhere in the country. reforms spilled over to the local level. Saltane and Hayane Chang Dahmen. The subnational Doing Business report re- 1. According to the International Monetary Colombia’s experience is having sulting from the study was soon followed Fund, average annual inflation in “spillover” effects in the region as well. by another, and work on a third began in Colombia fell from 23% in the 1980s to Bolivia has shown an interest in learning 6% by the 2000s. Management of public 2012.10 The second report showed that more about Colombia’s experience with finances also improved, with public defi- all 12 cities included in the first one had business entry. Paraguay has sought to cits in recent years lower as a percentage improved on at least one Doing Business learn from Colombia’s innovations in of GDP. Colombia’s general government indicator. construction permitting. And both Costa public debt was 35.9% of GDP in 2009, Rica and El Salvador intend to learn from low by international standards (“IMF Among these 12 cities, Neiva made the Data Mapper,” http://www.imf.org/). Colombia’s trade logistics reforms. most progress in improving the ease of 2. Consejo Privado de Competitividad, doing business. Local authorities took Colombia’s experience also shows the http://www.compite.com.co/site/ several measures to increase the city’s importance of setting out economic sistema-nacional-de-competitividad/. competitiveness, including creating an policy objectives. The government’s com- 3. Remarks delivered before the Americas anti-red-tape committee to reduce the mitment to well-defined, long-term eco- Society/Council of the Americas, regulatory burden on the private sec- nomic goals has helped drive implemen- September 24, 2009. Available at http:// tor. The committee encompassed wide tation of the reforms. Having made major www.as-coa.org/article.php?id=1908. representation, with participants from the strides in safeguarding macroeconomic 4. International Fund for Agricultural municipality, the chamber of commerce, stability, the government widened the Development, “Rural Poverty Portal,” business associations and national agen- focus of its policies to include a range of http://www.ruralpovertyportal.org/. cies such as police and tax authorities. institutional and economic reforms aimed 5. Doing Business database; World Bank COLOMBIA: SUSTAINING REFORMS OVER TIME 31 Group Entrepreneurship Snapshots database. 6. World Bank, Worldwide Governance Indicators, “2011 Update,” http://www .govindicators.org. The Rule of Law Index and the Regulatory Quality Index both range from −2.5 (weak) to 2.5 (strong). On the Rule of Law Index Colombia’s score rose from −0.84 in 2002 to −0.33 in 2010. On the Regulatory Quality Index its score rose from 0.05 in 2002 to 0.31 in 2010. 7. Law 1429 of 2010 and Decree 545 of 2011. 8. Sohn 2008. 9. Giné and Love 2010. 10. Subnational Doing Business reports are available at http://www.doingbusiness .org/reports/subnational-reports. 32 Latvia: maintaining a reform state of mind ƒ For Latvia, accession to the Latvia has made substantial economic significant improvements to its regulatory European Union has been among progress since its transition to a liberal environment—advancing further toward the main motivations for improving market economy in the 1990s. Income the frontier in regulatory practice than business regulation. per capita has more than tripled over the almost all other EU member economies past 15 years despite a deep recession fol- (figure 4.1)? And what lessons can be ƒ Latvia’s reform agenda has lowing the global financial crisis.1 Exports learned about this “reform state of mind” benefited from strong public grew by almost 7% a year in the 2000s, demonstrated by Latvia? support for economic integration. and the share of the population living ƒ Since 2004 the country has made on less than $4 a day fell from 25.8% in REFORMING FOR THE positive changes across all areas 1998 to 3.4% in 2008, the latest year for EUROPEAN UNION measured by Doing Business. which this information is available.2 Broad consensus for reform emerged in ƒ Despite being substantially Latvia in the late 1990s, as the country affected by the financial crisis Economic reforms have been a central transitioned to a liberal market economy starting in 2008, Latvia continued part of this process. Structural reforms after regaining independence in 1991. its reform agenda, adapting it to have increased competitiveness and Integration into the world economy was a the new challenges the country facilitated integration with the world commonly held goal, and the Latvian gov- was facing. economy. Reforms to business laws and ernment and business community began regulations have substantially improved a dialogue on how to achieve it. Latvia the investment climate. Since the late joined the World Trade Organization in 1990s successive governments have 1999, then targeted membership in the held a regular dialogue with the private European Union. sector and international organizations to identify and implement ways to stream- The goal of EU accession provided a line business registration, improve the structure for an array of legislative and tax system and increase the efficiency of regulatory reforms. The EU member- international trade, among many other ship requirements, known as the such reforms.3 Copenhagen criteria, provided a series of general directives for reforms centered These reform efforts have been sustained on democratic governance, human rights, through changing domestic and interna- a market economy and commitment to tional conditions. They began as part of a European integration. Latvia also began process to join the European Union (EU). harmonizing its laws with the body of They continued during a period of rapid EU legislation, the acquis communautaire, growth in the mid-2000s. And they have including in ways to reduce administra- persisted during the significant economic tive barriers to investment. In 1999 the downturn following the financial crisis. Latvian Cabinet of Ministers adopted Throughout this transition there were an action plan to improve the business many changes in political leadership— environment and welcomed support but the commitment to legislative and from international financial institutions to regulatory reform endured. implement the reforms.4 What enabled this continued commitment These reform efforts proved very suc- to reform? How has Latvia made such cessful: by 2003, 91 of 106 reforms LATVIA: MAINTAINING A REFORM STATE OF MIND 33 FIGURE 4.1 Latvia has made big advances toward the frontier in regulatory practice Progress in narrowing distance to frontier since 2005 (percentage points) 12.3 9 9.8 9.5 9.0 8.6 8.2 6 7.1 7.0 5.0 4.9 4.5 4.4 3.5 3.5 3.0 2.6 2.5 1.9 1.8 1.5 1.4 0.8 0.1 -0.5 0 Poland Czech Republic Slovenia Portugal France Latvia Romania Greece Bulgaria Denmark Slovak Republic Hungary Sweden Netherlands Spain United Kingdom Belgium Finland Lithuania Italy Austria Ireland Estonia Germany Note: The distance to frontier measure shows how far on average an economy is from the best performance achieved by any economy on each Doing Business indicator since 2005. The measure is normalized to range between 0 and 100, with 100 representing the best performance (the frontier). The figure shows the absolute difference for each economy between its distance to frontier in 2005 and that in 2012. It shows data for all current EU members except Cyprus, Luxembourg and Malta, which were added to the Doing Business sample after 2005. Source: Doing Business database. initially identified in 1999 had been imple- of government inspectors and private Latvia enjoyed significant growth during mented.5 During this initial reform phase firms, introduced a requirement for this initial reform period. From 2000 to the government focused on improving written reports after all inspections and 2004 GDP growth averaged 7.5%, and aspects of the investment climate that developed performance indicators for unemployment fell from 14.2% to 9.9%.10 had been raised as issues by the Latvian inspectorates.7 In May 2004 Latvia achieved its goal of business community. joining the European Union. Construction permitting was another One focus was streamlining business target of regulatory reform. In 2001 it CONTINUING THE AGENDA registration. The government simplified took Latvian businesses 2 years to obtain Latvia’s strong economic performance the procedures required, such as by all the licenses and inspections required continued after the country became an combining company and tax registration. to build a warehouse. By 2004 the gov- EU member. From 2005 to 2007 eco- By 2004 starting a business in Latvia took ernment had reduced the time required nomic growth averaged nearly 11% a year. only 5 procedures and 16 days—less time to obtain a building permit by 2 months, The number of newly registered firms than in all but 21 economies covered by simply by preparing a flowchart showing rose from around 7,000 a year to 12,000. Doing Business 2005. The change was what offices to visit and which docu- And exports of goods and services grew dramatic: in 1999 opening a business in ments to take.8 Further improvements by more than 5% a year, with a peak in Latvia had required 17 procedures and 114 followed, including amendments to the growth of 20% in 2005.11 days. construction code and the establish- ment of a public register for construction Business regulation reforms continued The government also improved business companies. as well. Rather than relaxing the reform inspections. Most business inspectorates agenda after becoming an EU member, in Latvia were perceived as obstructing The government improved tax ad- Latvia continued working to enhance its rather than enabling legitimate business ministration by amending the laws on competitiveness by bringing its economic in their enforcement of government value added and corporate income tax laws, regulations and institutions further regulations. The government requested to resolve specific issues identified by into line with those of Western European that inspectorate reform be included as a businesses. Draft tax legislation was countries.12 The action plan initially estab- conditionality of financing from the World posted online for public comment, and an lished in 1999 was regularly amended to Bank.6 Later efforts provided new instruc- appeals body was established in the State identify new areas to target with regula- tion on the rights and responsibilities Revenue Service.9 tory reforms. Doing Business has tracked 34 DOING BUSINESS 2013 the success of many of these reforms FIGURE 4.2 Latvia made transferring property simpler and faster over time. Time to register property (days) 60 One set of improvements made property Between 2004 and 2012 Latvia implemented new electronic registration faster and easier. Businesses 50 capabilities to streamline property registration trying to expand were being hindered by 40 Time cut complex administrative procedures to by 37 days access land, leading to long delays and 30 considerable uncertainty. The govern- 20 ment responded by installing electronic Procedures cut by 5 10 terminals at the land registry, enabling businesses to pay fees and stamp duties 0 1 2 3 4 5 6 7 8 9 10 at the same time that they registered Procedures property. It also granted the land registry 2004 2012 electronic access to municipal tax da- Source: Doing Business database. tabases, eliminating the requirement to obtain the property tax status in paper format. As a result, the time required More recently, Latvia made getting a series of new business regulation re- to transfer property fell from 55 days in electricity easier by streamlining the forms. The crisis highlighted the need for 2004 to 18 in 2012 (figure 4.2). approval process for connection designs greater resilience to such shocks in the for straightforward projects. Before 2011 future and for greater access to finance. Construction permitting, a focus of ear- an entrepreneur in Riga had to wait more It also underscored the need to reduce lier efforts, received renewed attention than 6 months to connect a warehouse administrative barriers to investment. in response to investors’ complaints that to the electricity network. Reducing the The Latvian authorities responded with unclear fee schedules were a burden to number of approvals that were required reforms targeting the insolvency regime, construction activity. The government shortened the wait by almost 3 months— the credit information system and corpo- established a more transparent set of a change that earned Latvia recognition rate governance. construction fees and duties, reducing in Doing Business 2012 as having made the cost associated with completing the the biggest improvement in the ease of The insolvency law was amended in 2008 procedures to legally build a warehouse getting electricity in the year covered by to ensure a better balance between the from 43.5% of income per capita in 2006 the report. interests of debtors and creditors and to to 18.6% in 2012. facilitate the recovery of companies expe- CONFRONTING THE CRISIS riencing financial problems. The changes Even after Latvia’s accession to the WITH REFORMS included allowing easier access to European Union, some regulatory re- insolvency and restructuring procedures, The global financial crisis brought Latvia’s forms were still driven by the integration introducing faster procedures for selling a strong economic growth to a halt. Much of process. One was the adoption of an debtor’s assets and implementing stricter the growth had been driven by increased electronic customs system, triggered by domestic demand enabled by substantial qualification standards for insolvency the implementation of EU regulations in inflows of foreign capital, and when the administrators. In 2009 further amend- 2009. Entry and exit declaration forms capital inflows ceased, the economy ments to the insolvency law introduced can now be submitted electronically, went into a deep recession starting in a mechanism for settling insolvencies out and a requirement to submit customs 2008.13 Latvia responded by undertaking of court to ease pressure on the judiciary. information in advance allows the system significant structural reforms, including As a result of these reforms, the recovery to perform computerized risk analysis reductions in public spending and wage rate for creditors rose from 32 cents on before goods are presented to customs. moderation in the public sector. The the dollar to 56 between 2010 and 2011, public broadly supported the main thrust leading to the biggest improvement in the Continuing its improvements in tax ad- ease of resolving insolvency worldwide of the authorities’ response to the crisis, ministration, Latvia introduced a process according to Doing Business 2012. and election results in October 2010 en- for electronic submission and acceptance dorsed the government’s reform efforts.14 of tax declarations in 2005 and 2006. Another focus was expanding the credit This reduced the number of tax payments Despite the economic turmoil associ- information system. In 2008 the Bank as measured by Doing Business from 29 a ated with the financial crisis—or perhaps of Latvia’s registry of debtors was trans- year to 7 in 2006. because of it—Latvia also implemented formed into a full-fledged credit registry. LATVIA: MAINTAINING A REFORM STATE OF MIND 35 FIGURE 4.3 More and better credit information in Latvia endorsed by the business community and Borrowers covered by credit registries Depth of credit information index the population. (% of adults) (0–6) 70 6 That economic integration can provide 60 useful incentives is not a new lesson: 5 Doing Business 2012 identified a similar 50 4 association between successful reforms 40 3 in FYR Macedonia and its preparations 30 ahead of eventual EU entry. But the case 2 20 of Latvia provides another example of 10 1 how economic integration can serve as 0 0 a powerful stimulus for economic and in- 2004 2005 2006 2007 2008 2009 2010 2011 2012 stitutional reforms—and how integration Depth of credit information index Borrowers covered by credit registries and reform together can create a virtuous circle of development. Source: Doing Business database. The case of Latvia also shows that local It now collects both positive and negative EU requirements of committing to circumstances matter as well. Latvia has information on borrowers, borrower guar- democratic institutions and processes, benefited from a high-quality technocrat- antors and their obligations. The registry strengthening the institutional underpin- ic bureaucracy through which pro-reform is also able to record more precise infor- nings of a free market and harmonizing civil servants were able to provide com- mation, such as the type of settlement of laws with EU legislation provided an ac- petent support to the reform process over the borrower’s obligations and the date on tionable roadmap. Results are reflected in time. The presence of a stable cadre of which settlement of a delayed payment is Latvia’s improvement on the Worldwide well-qualified civil servants, maintained registered. And the registry expanded its Governance Indicators between 2000 through changes in political leadership, coverage from 3.5% of adults in 2008 to and 2005, including on the Regulatory almost certainly aided the development 63.8% in 2012 (figure 4.3). Quality Index.16 In addition, the potential and implementation of what has been economic benefits of joining the European a largely successful reform agenda. In With the goal of increasing investors’ Union created strong public support for addition, the ability to establish an ongo- confidence in the market, Latvia also the reform agenda. This combination of ing dialogue between the government introduced more robust corporate EU requirements and potential economic and the business community may have governance measures. The government benefits made it possible to sustain the helped build and sustain the broad politi- amended the company law to harmonize implementation of both broad structural cal consensus for the reform process. with the EU acquis communautaire, includ- reforms and specific business regulation ing by improving disclosure mechanisms Whatever the combination of causes, reforms. and increasing transparency.15 And in Latvia has maintained a state of mind 2010 the Riga Stock Exchange issued Similar support for economic reform after focused on reform of the business envi- corporate governance principles and the crisis can be linked to a desire for fur- ronment and the broader economy. Doing recommendations related to disclosure ther integration with the European Union, Business measures just one component of requirements, remuneration policy and including as a future full member of the the reforms that Latvia has implemented. conflicts of interest, further strengthen- euro zone. Devaluation of the Latvian But the results are clear: in the areas ing corporate governance rules for listed currency against the euro was a policy tracked by Doing Business indicators, the companies. option for mitigating the effects of the quality of the business environment has crisis, and it might arguably have implied improved substantially over the past WHAT ARE THE LESSONS? lower short-term economic costs than decade and a half. Latvia has sustained a clear commitment cuts in public spending. But the govern- to business regulation reform over more ment opted instead to intensify the pace CONCLUSION than a decade, under changing political of structural reforms; it viewed maintain- Latvia’s reform process is likely to con- leadership and through economic booms ing the currency peg less in terms of tinue. The authorities have signaled their and downturns. What factors have en- the purely macroeconomic effects and determination to continue to implement abled this impressive commitment? more as part of its long-term strategy for cautious macroeconomic policies that strengthening links with the European will support continued investments in One is the structural incentive pro- Union, particularly the members of the infrastructure, education and training, vided by economic integration. The euro zone.17 This approach was broadly seen as key elements of an ambitious 36 DOING BUSINESS 2013 competitiveness agenda.18 Further busi- at purchasing power parity. 12. Liepina, Coolidge and Grava 2008. ness regulatory reforms are planned 2. Export growth data are from the World 13. Latvia, Ministry of Economics 2011. as well, as part of Latvia’s program to Bank’s World Development Indicators 14. EBRD 2011. database (http://data.worldbank.org/). implement the “Europe 2020” strategy.19 15. EBRD 2011. Poverty data are based on the poverty The objectives include, among others, the headcount ratio at purchasing power 16. The Regulatory Quality Index captures reduction of administrative barriers and parity and are from PovcalNet, the online perceptions of the government’s abil- the strengthening of access to finance tool for poverty measurement developed ity to formulate and implement sound by the World Bank’s Development policies and regulations that permit and as well as support for access to external promote private sector development. Research Group (http://iresearch markets and encouragement of greater It ranges from -2.5 (weak government .worldbank.org/PovcalNet). inflows of foreign direct investment to performance) to 2.5 (strong government 3. See, for example, Coolidge, Grava and export-oriented sectors. These reforms performance). Latvia’s score rose from Putnina (2003). should enable Latvia to fully overcome 0.74 in 2000 to 0.94 in 2005, then rose 4. Liepina, Coolidge and Grava 2008. to 0.98 in 2010. the economic effects of the financial crisis 5. Liepina, Coolidge and Grava 2008. 17. See, for example, Åslund (2009). and allow it to continue on its path toward 6. World Bank 2001. Another consideration in the govern- successful long-term development. 7. Coolidge, Grava and Putnina 2003. ment’s policy choice may have been a desire to protect the significant share 8. World Bank 2007. of the population with debt in euros 9. Liepina, Coolidge and Grava 2008. and other foreign currencies from the NOTES 10. World Bank, World Development consequences of a devaluation. This case study was written by Caroline Indicators database, http://data 18. EBRD 2011. Frontigny and Betina Tirelli Hennig. .worldbank.org/. 1. World Bank, World Development 19. Latvia, Ministry of Economics 2011. 11. World Bank, World Development Indicators database, http://data Indicators database, http://data .worldbank.org/. The income measure is .worldbank.org/. gross national income (GNI) per capita 37 Rwanda: fostering prosperity by promoting entrepreneurship Emerging from a decade marked by civil Building on a 2-year consultation process, ƒ Rwanda’s commitment to private war and political instability, Rwanda the government designed a long-term sector development has facilitated began a comprehensive and ambitious development strategy, Rwanda Vision growth in exports, domestic campaign in 2000 to rebuild, foster 2020, aimed at transforming Rwanda investment and foreign direct national reconciliation and drastically into a middle-income economy by investment inflows—and the reduce poverty. The government’s raising income per capita from $290 to implementation of effective fiscal agenda gave priority to health, education, $900 before 2020.2 Introduced in 2000, policies supported by structural infrastructure, and private and financial the strategy recognized and sought to and institutional reforms. sector development, showing a overcome Rwanda’s multiple development ƒ Starting in 2000, Rwanda commitment to improving citizens’ living challenges—including past civil war, developed a strong institutional conditions and building a solid foundation poor governance, weak infrastructure, pipeline for designing and for reconciliation. underdeveloped financial and private implementing business regulation sectors, unemployment, overwhelming reforms. Starting early on in the reform campaign, public debt, a poorly developed education Rwanda has implemented many system, HIV and the rapid growth of a ƒ Since 2004 Rwanda has business regulation reforms. These have population expected to reach 13 million by substantially improved access to transformed the life of the private sector credit, streamlined procedures 2020. and made it noticeably easier to do for starting a business, reduced business. While challenges remain, the In 2001 the World Bank set up the the time to register property, country has achieved much success in Competitiveness and Enterprise Develop- simplified cross-border trade and its reform agenda since the early 2000s. ment Project, designed to help the made courts more accessible for This success stems from many factors, government establish an environment resolving commercial disputes. and Rwanda’s experience may provide conducive to private sector growth and ƒ Rwanda is among more than 35 useful lessons for other nations seeking the emergence of a more competitive economies where the executive to improve their business climate, investment climate. The project focused on branch has made private sector particularly for those coming out of developing and updating the commercial development a priority by conflict. law and supporting the government’s establishing institutions whose privatization program through technical main purpose is to design and DESIGNING A STRATEGY assistance, capacity building and advice implement business regulation Between 2005 and 2011 Rwanda’s real on bank restructuring. This program reforms. GDP per capita grew by 4.5% a year, contributed to an overhaul of the reflecting a sustained expansion of country’s financial sector that led to the exports and domestic investment, with recapitalization of banks, the establishment inflows of foreign direct investment also of an insurance market and the introduction increasing substantially.1 In addition, of microfinance lenders. In addition, the government strengthened the the Competitiveness and Enterprise foundations of macroeconomic stability Development Project collaborated with the by implementing cautious fiscal policies World Bank’s Rwanda Investment Climate supported by a number of structural and Reform Program to develop a robust reform institutional reforms. Underpinning this agenda. The project helped establish policy stance was a strong and sustained the Doing Business Unit, the institution commitment by national authorities to responsible for spearheading Rwanda’s private sector development. reform initiatives, while the investment 38 DOING BUSINESS 2013 climate reform program provided technical other economies—including economies The Doing Business Unit identifies reform assistance and expertise to support the that have made some of the biggest opportunities; the technical task force implementation of planned legal, regulatory improvements in the ease of doing and the steering committee approve the and institutional reforms. business, such as Burundi, Colombia reform proposals. The annual plan for and Georgia.6 The approach has proved regulatory reforms is then communicated Rwanda’s 2007 Economic Development effective in triggering reforms. In Rwanda to the cabinet. The steering committee and Poverty Reduction Strategy, like its and the technical task force commit it helped put investment climate reforms Vision 2020, emphasized private sector to the new priorities that are agreed at the top of the economic policy agenda development as the key to creating on at the national leadership’s annual for promoting private sector development jobs, bringing peace, generating wealth retreats.7 The Doing Business Unit and helped consolidate and unify the and ultimately eliminating poverty.3 In monitors implementation and reports multiple reform efforts. addition, aware of its scarce natural to the steering committee and to resources and landlocked location, Since reforms to the investment climate the prime minister, who is ultimately Rwanda has focused on business require changes across many areas responsible for ensuring the execution regulation reform to attract foreign of government, the Doing Business of goals.8 Besides reporting directly to investment. Steering Committee, bringing together the Rwanda Development Board, the unit representatives from different ministries, also periodically informs the head of the Dubbed “Africa’s new Singapore” by was created in early 2009 to lead the Strategy and Policy Unit in the Office of The Economist for its positive economic reform efforts at the cabinet level. While the President about reform progress. reforms,4 Rwanda has been effectively other countries have created similar learning from the success stories of institutions to promote reform, Rwanda Far from being rigid, this structure economies like Singapore since the early has made effective use of the steering has been further improved by the 2000s. And in 2007 it started using the committee in implementing successful involvement of other stakeholders. Ahead Doing Business report as a tool to identify regulatory reforms (as detailed in the of the promulgation of major pieces of and learn from good practices in business following section). legislation, the Rwanda Development regulation and to monitor improvement. Board has worked closely with the Several elements of a successful reform Below the steering committee is a parliament and the judiciary, both of program were present, including political technical task force made up of 6 working which have helped in meeting targets will and commitment at the highest groups focusing on business entry, and deadlines. Civil society, development level and a broadly appropriate set of licensing reform, legislative changes, partners and institutions such as the macroeconomic policies that created taxes and trade logistics, construction Presidential Advisory Council have also room in the budget to invest in reforms permits and property registration. One provided crucial input in shaping the and gained strong support from the donor key to the working groups’ effectiveness reform agenda.9 community. has been their inclusion of private sector representatives. This has helped LAUNCHING REGULATORY BUILDING AN EFFECTIVE ensure private sector buy-in and allowed REFORMS REFORM PIPELINE participants to share their experiences Even as the internal organization was Government responsibility for improving during discussions about reform design. evolving, the government was enacting the investment climate in Rwanda and reforms: since 2005 Rwanda has To ensure success, the organizational implemented 26 business regulation driving through the reforms has shifted structure still needed something to reforms as recorded by Doing Business. over time. The responsibility was initially bring all the pieces together. For this assigned to the Rwanda Investment purpose the Doing Business Unit was Improving access to credit Promotion Agency. In August 2008 this created. A small, full-time team, this unit A series of changes improved conditions agency was joined by 7 others to create links the working groups to the steering for getting credit. In 2005 the public the Rwanda Development Board.5 committee, coordinates with donors credit registry expanded its database of The board’s creation marked not only providing technical support, manages financial institutions and improved the a change in name and gains in size, development funding to ensure proper content of its credit reporting system. In resources and efficiency but also a use and promotes efforts to improve 2009 a new secured transactions law fundamental increase in political will and the investment climate. It also advises was introduced, allowing a wider range support. The president of Rwanda made agencies, explains the reforms to the of assets to be used as collateral and business regulation reform a priority, private sector and monitors progress permitting out-of-court enforcement as did the leaders of more than 35 through internal indicators. proceedings.10 RWANDA: FOSTERING PROSPERITY BY PROMOTING ENTREPRENEURSHIP 39 In 2010 the legislature passed a law FIGURE 5.1 Rwanda streamlined the procedures for starting a business regulating the distribution of information Time (days) from credit bureaus. This led to the 18 creation of the country’s first private Rwanda eliminated 7 procedures credit bureau, which provides wider 15 and cut the time by 15 days coverage than the public registry because 12 it includes information from utilities. In addition, the public registry expanded 9 coverage to loans of all sizes. In December 6 2011 the public registry stopped issuing credit reports, and now only the private 3 bureau shares credit information. The 0 1 2 3 4 5 6 7 8 9 public registry still collects information from regulated financial institutions but Procedures only for supervisory purposes. 2004 2012 Source: Doing Business database. Streamlining regulatory processes Other changes streamlined regulatory The administrative reorganization and extended operating hours for border processes. In 2006 the introduction of the statutory time limits reduced the posts and implemented an electronic hundreds of new notaries made starting time required to transfer property by 346 data interchange system and risk-based a business faster. Before, only 1 notary days—from more than a year in 2004 to inspections. And in 2010 it streamlined had been available countrywide, and the less than a month (figure 5.2). And the trade documentation requirements and high volume of requests meant a long changes in the transfer fees reduced the improved border cooperation. wait for entrepreneurs wanting to register cost from 10.3% of the property value to a new business. After an overhaul of the 5.6%.11 Results are clear. In 2006 exporting company law in 2009, entrepreneurs goods in Rwanda required 14 documents no longer needed to use the services of Changes over several years made and 60 days (figure 5.3). Today it takes a notary; they could use standard forms trading across borders faster. In 2005 only 8 documents and 29 days. The story instead. An online system for publishing Rwanda made it possible to submit is similar for importing. the registration notice replaced customs declarations electronically. In 2007 the customs authority introduced Strengthening laws and requirements for physical publication. more acceptance points for customs the judiciary And a new one-stop shop streamlined business registration by reducing the declarations, reducing the waiting time The new company law adopted in 2009 number of interactions required from 9 to to submit them. In 2008 the government introduced several concepts into Rwanda’s 2 (figure 5.1). The time required to start a business fell from 18 days to 3, and the FIGURE 5.2 Rwanda cut the time for property transfers by almost a year cost from 235% of income per capita to 4%. Time to register property (days) 400 Rwanda also made it easier to transfer Rwanda reduced the time property. In 2008 it eliminated mortgage required to complete procedures 300 from 371 days to 25 registration fees and shifted from a 6% transfer tax to a flat rate of 20,000 Rwandan francs (about $33). In 2010 the 200 government decentralized the Office of the Registrar and Land Titles and created 100 5 branches throughout the country, purging the backlog of cases in Kigali. It 0 1 2 3 4 5 also introduced strict time limits for some Procedures procedures. One was the issuance of tax clearance certificates, which had been 2004 2012 the lengthiest part of the process. Source: Doing Business database. 40 DOING BUSINESS 2013 FIGURE 5.3 Big reduction in time and documents to trade across borders in Rwanda (financed by the Competitiveness and Time and documents to export Enterprise Development Project) and the Time (days) Documents (number) Institute for Legal Practice are training 80 14 judges, legal officers and lawyers to work 70 12 in a mixed legal system, where the civil 60 10 law tradition dominates but common law 50 and customary law tendencies are also 8 evident.15 40 6 30 With the aim of increasing efficiency 4 in resolving corporate insolvencies, the 20 10 2 government enacted a new insolvency law 0 0 in 2009. But resolving insolvency remains 2006 2007 2008 2009 2010 2011 2012 the one area among all those included in the ease of doing business index in Time and documents to import which Rwanda still has great room for Time (days) Documents (number) 20 improvement. Achieving widespread use 100 of the law in insolvency cases has been 80 among the greatest regulatory reform 15 challenges in this area.16 60 10 40 SEEING MEASURABLE RESULTS 5 The ultimate goal of the reform program 20 is a private sector that promotes 0 0 economic growth and job creation.17 And 2006 2007 2008 2009 2010 2011 2012 the program is achieving measurable Time progress toward this goal. Inland transport Customs clearance Documents Terminal handling Document preparation After Rwanda simplified formalities for Source: Doing Business database. business registration in 2006, 77% more firms registered in the following year.18 In corporate legal system for the first time: laws proved crucial for the approval of 2008 more than 3,000 firms registered, minority shareholder rights, regulation of important legal reforms. The government up from an average of 700 in previous years. In 2009 the number rose to 6,905. conflicts of interest, extensive corporate further enhanced the court system in And in 2010 the government managed to disclosure and directors’ duties. The new 2008 by creating lower commercial register 18,447 new businesses—nearly law introduced rules requiring approval courts. achieving its goal of registering 20,000 by the board of directors for related-party Consistent with its emphasis on bringing that year.19 The jump in registration transactions representing less than 5% of in the skills and expertise needed numbers cannot be attributed solely to the company’s assets and by shareholders to ensure the success of the reform the simplification of the start-up process; for those representing more than 5%. The process, the government also hired non- the business registration reforms were law strengthened the director liability Rwandan expatriate judges: 2 Mauritian part of a wider government agenda regime for breach of fiduciary duties and judges to help local judges run the new to promote private sector growth and for related-party transactions that harm commercial courts during the first 3 entrepreneurship in Rwanda. Even so, the the company. And it increased corporate years of operation.13 In addition, the increase points to a positive trend. transparency by improving disclosure requirements and minority shareholders’ government has provided incentives Good results are also showing up in access to corporate information. for Western-educated members of the the area of contract enforcement: the diaspora to repatriate and has promoted commercial courts started operating in In 2005 the government made contract an exchange of skills by opening the job Kigali in May 2008 and had fully cleared enforcement more of a reality by market to immigrants from neighboring the case backlog by the end of 2009.20 establishing more commercial courts12 countries, including Burundi, Kenya, and creating the Business Law Reform Tanzania and Uganda.14 Moreover, Rwanda’s consistent reforms to make Cell, whose review of 14 commercial the Capacity Strengthening Program trade easier improved the productivity RWANDA: FOSTERING PROSPERITY BY PROMOTING ENTREPRENEURSHIP 41 of customs officials, who increased the lawyers and judges—to ensure program to support the Rwanda Revenue number of documents they cleared proper administration of the reforms. Authority is considered a success, enabling the agency both to improve annually by 39% between 2006 and Recognizing the benefits of a diverse its tax collection rate and to simplify its 2009. And according to the Ministry of knowledge base, Rwanda has also interactions with businesses. Trade and Industry, Rwanda’s exports imported technical expertise from other 10. Legal changes often require only rose from $147 million in 2006 to $193 countries, to replicate good practices and modest investments. For the secured million in 2009. build capacity. And the government has transactions law, for example, Rwanda involved the private sector in the reform invested $55,320 (excluding technical Rwanda recently adjusted some of the assistance from donors) in the validation process and maintained an open line of and translation of the new law as well as targets set in Vision 2020. Most notably, communication to keep entrepreneurs, in the legislative process. it raised the income per capita target from civil society and other stakeholders 11. World Bank 2010a. $900 to $3,500. This brings the target apprised of developments. 12. World Bank 2006. into line with levels in middle-income 13. Hertveldt 2008. economies today and reflects Rwanda’s All these efforts are showing results in 14. “Africa’s New Singapore?” recent growth, which increased income Rwanda’s regulatory performance. And The Economist, February 25, 2012, per capita to around $570 in 2011.21 Rwanda’s dedication to private sector http://www.economist.com/. development, in triggering positive legal 15. The Institute for Legal Practice was CONCLUSION reforms, has contributed substantially to established by an organic law in 2006 its overarching goal of promoting national and started to operate in May 2008. Every country faces different development reconciliation and prosperity. 16. “Rwanda: Country Struggles on challenges. But Rwanda’s ambitious Insolvency Law,” East African Business and complex reform program may offer Week, May 13, 2012, http://allafrica lessons for others seeking to reform .com/. NOTES through private sector development. 17. Edmund Kagire, “New Reforms Set Up This case study was written by Moussa to Boost Doing Business,” New Times Traoré, Adrian Gonzalez, César Chaparro One key to its achievements has been (Kigali), April 18, 2010. Yedro, Jean Michel Lobet and Jonathan the strong commitment to reform shown Bailey. 18. World Bank 2010a. by Rwanda’s leaders and its citizens. The 1. World Bank, World Development 19. Frank Kanyesigye, “Rwanda government has established structures Indicators database, http://data Development Board Targets to Register .worldbank.org/. 20,000 New Businesses,” New Times for building a foundation for private (Kigali), May 14, 2010. sector development and coordinating 2. Rwanda, Ministry of Finance and Economic Planning 2000. 20. Interview by Business Times (Kigali) with government-wide reform efforts. And Benoit Gatete, vice president of the 3. Rwanda, Ministry of Finance and it has created a well-defined, long-term commercial high court, January 12, 2010, Economic Planning 2007. reform strategy that informs all of the http://allafrica.com/. 4. “Africa’s New Singapore?” country’s short-term development goals. 21. “Government to Adjust Vision 2020,” The Economist, February 25, 2012, New Times (Kigali), February 25, 2010; http://www.economist.com/. The government entities involved in World Bank, World Development 5. The 7 agencies were Tourism and Indicators database, http://data the process have had clearly defined Conservation, the Registrar General’s .worldbank.org/. roles and responsibilities, and they Office, the Privatization Unit, Human and have respected the goals set in initial Institutional Development, the Center implementation strategy documents. The for the Support to Small and Medium- Sized Enterprises (CAPMER), the IT Doing Business Unit has played a pivotal Agency and the National Environment role not only in ensuring coordination Management Authority. within the government and between 6. See box 2.2 in the chapter “About Doing the government and donors but also Business” for a list of economies using in coordinating development funding this approach. initiatives so as to avoid duplication. 7. These retreats, which gather about 300 top members of the administration, have The government has worked to meet the included Doing Business reforms on the agenda since 2007. needs of entrepreneurs by streamlining 8. Presentation by Emmanuel Hategeka, regulatory processes involved in starting, permanent secretary, Ministry of Trade operating and closing a business. Beyond and Industry, Kigali, March 16, 2011; undertaking legal and administrative Karim 2011. reforms, the government has invested 9. In particular, the U.K. Department for in training for professionals—including International Development’s multiyear 42 APEC: sharing goals and experience ƒ Asia-Pacific Economic Cooperation Many factors can drive reforms in liberalization, business facilitation, and (APEC), a regional forum of 21 an economy’s business regulatory economic and technical cooperation.1 member economies, has as its environment—from domestic factors primary goal to ensure sustainable such as financial crises to international Meeting in Bogor, Indonesia, in 1994, economic growth and prosperity ones such as binding agreements in the leaders of APEC members committed to through voluntary cooperation. World Trade Organization (WTO). For achieving free and open trade and invest- ƒ A key focus is promoting regulatory economies in the Asia-Pacific region, re- ment by 2010 for developed economy reforms, and in 2009 the APEC gional factors play a part, including com- members and by 2020 for developing Ease of Doing Business Action mitments made in Asia-Pacific Economic economy members—targets that be- Plan was launched as a way to set Cooperation (APEC). Improving the came known as the Bogor Goals. Today collective targets and measure region’s business regulatory environment APEC’s 21 members account for about progress. is a focus of APEC, and member econo- 54% of world GDP and about 44% of mies have pledged to carry out regulatory world trade.2 APEC members’ total trade ƒ Using 5 Doing Business indicator reforms both collectively and unilaterally. grew by 10% a year on average between sets, the action plan targets an 1989 and 2010. This rate, though impres- APEC-wide aspirational goal of To help monitor and assess members’ sive, only slightly exceeded the world’s making it 25% cheaper, faster and progress toward these commitments, overall trade growth rate of 9%.3 On the easier to do business by 2015, APEC sets measurable targets with other hand, APEC members reduced with an interim target of 5% specific timelines. While these targets their average applied tariff from 16.9% to improvement by 2011. are set at the regional level, APEC also 5.8% over this period.4 ƒ Between 2009 and 2012 APEC encourages members to draft plans for members improved their their own economy that will aid in achiev- As tariffs declined in APEC members, performance on the 5 indicator ing APEC-wide targets. One set of targets attention shifted to addressing the sets by 11.5% on average. But much that APEC has chosen for this purpose is structural and regulatory obstacles that variation remains among APEC based on Doing Business indicators. inhibit cross-border trade and invest- members in the ease of doing ment by removing behind-the-border business and in the rate of progress APEC also encourages capacity building barriers to doing business.5 At the same being made. activities among members in support of time, economic integration between its goals. Toward the goal of improving the ƒ Consistent with APEC’s view APEC members highlighted difficult region’s regulatory environment, APEC of capacity building as central new challenges—such as how to ensure has selected “champion economies” to to enhancing cooperation and that growth and economic integration provide capacity building assistance to accelerating progress, the are sustainable and shared by all APEC other members. action plan identifies “champion members in a constantly changing eco- economies” to share information nomic environment. A HISTORY OF COLLECTIVE and experience and to assist GOAL SETTING To address these challenges, in 2010 other members through tailored diagnostic studies. Established in 1989, APEC is a forum APEC leaders embraced the APEC for supporting economic growth, co- Growth Strategy, which takes into con- operation, trade and investment in the sideration new global realities—including Asia-Pacific region. APEC operates on energy and environmental constraints, a voluntary and consensual basis, with human security concerns and disparities activities and work programs centered in opportunity across and within econo- on 3 main pillars: trade and investment mies. APEC leaders also endorsed the APEC: SHARING GOALS AND EXPERIENCE 43 FIGURE 6.1 Milestones in the APEC Ease of Doing Business Action Plan Interim target of 5% 2012 APEC Economic Policy Report focusing APEC-wide target of Action plan launched improvement on members’ work in the 5 priority areas 25% improvement 2009 2010 2011 2012 2013 2014 2015 Phase 1 (2009–11) Phase 2 (2012–15) Champion economies share experience with Champion economies provide diagnostics and facilitate capacity building for successful reforms and systems members committed to reform Source: Based on information from APEC Policy Support Unit. New Strategy for Structural Reform, a The action plan has highlighted the capita to 6.4%). Economies in the rest of broad work program that calls on each importance of measuring results since the world made smaller improvements on member economy to undertake demon- the beginning. And the APEC Secretariat average on 3 of these indicators, reducing strable and significant structural reform, has agreed to regularly assess progress the number of procedures by 8.2%, the consistent with the objective of achieving toward the targets set (figure 6.1).7 time by 17.7% and the paid-in minimum strong, inclusive and balanced growth. capital requirement by 32.4%. But they Recognizing the importance of capacity Encouraging early results improved more than APEC members on building to assist members in undertak- Early results are encouraging. Among the the cost to start a business, reducing it by ing structural reform, APEC is supporting 5 areas covered by the action plan, APEC 29.1%. workshops, peer-to-peer events and members made the biggest improvements knowledge sharing tools in such areas in starting a business between 2009 and Overall, APEC members improved the as regulatory reform and public sector 2012. On average, they reduced the num- ease of starting a business by 23.4% on governance. ber of procedures to start a business by average, while non-APEC economies 19.3% (from 7.9 to 6.4), the time by 22.5% improved it by 21.9%. Beyond the differ- (from 28.1 days to 21.8), the cost by 16.5% ences with the rest of the world, what AN ACTION PLAN FOR MAKING (from 8.8% of income per capita to 7.4%) makes these improvements by APEC IT EASIER TO DO BUSINESS and the paid-in minimum capital require- particularly impressive is that in 2009 Another APEC initiative focuses more ment by 35.3% (from 9.8% of income per the region already performed better on closely on improving the business regula- tory environment. To provide a pragmatic FIGURE 6.2 APEC members have advanced furthest toward the frontier in regulatory practice for way of addressing priorities, senior gov- starting a business ernment officials of APEC members Average distance to frontier agreed to put in place the APEC Ease of (percentage points) Doing Business Action Plan in 2009.6 The 100 action plan uses Doing Business indicators 2012 to set collective targets and encourage 2009 measurable progress in regulatory re- form. The overall goal is to make it 25% cheaper, faster and easier to do business 80 in the region by 2015, with an interim target of 5% improvement by 2011. The action plan focuses on 5 priority areas. These were identified through a 60 survey asking APEC members to rank by Starting Dealing with Getting Trading Enforcing Average a business construction credit across borders contracts for all 5 priority the 11 areas measured by Doing permits indicator sets Business. The 5 priority areas are starting a business, getting credit, trading across Note: The distance to frontier measure shows how far on average an economy is from the best performance achieved by any economy on each Doing Business indicator since 2005. The measure is normalized to range between 0 and 100, with 100 borders, enforcing contracts and dealing representing the best performance (the frontier). with construction permits. Source: Doing Business database. 44 DOING BUSINESS 2013 average on the Doing Business indicators FIGURE 6.3 APEC members’ performance on Doing Business indicators varies widely for starting a business than on those for Average ranking the other 4 areas (figure 6.2). 7 1 10 12 14 21 27 Over the same period APEC members 16 26 22 32 29 also improved their performance on 41 the Doing Business indicators for dealing 65 75 67 74 with construction permits (by 15.8% 95 94 on average, compared with 13.9% in non-APEC economies) and for getting credit (by 16.1%, compared with 23.9%). Their performance on the trading across 185 borders indicators improved only slightly Ease of Starting Dealing with Getting Trading Enforcing doing business a business construction credit across borders contracts (by 2.3%, compared with a decline of permits 0.7% in non-APEC economies), while High-income members Middle-income members Champion economies that on the enforcing contracts indicators Note: Champion economies as defined by the APEC Ease of Doing Business Action Plan are Hong Kong SAR, China; Japan; remained nearly unchanged (improving Korea; New Zealand; Singapore; and the United States. by 0.1%, compared with no improvement Source: Doing Business database. in non-APEC economies). Across all 5 priority areas, APEC members improved years China implemented 16 reforms in 8 registry in 2006, a new law regulating the their performance on the Doing Business areas of business regulation measured by bankruptcy of private enterprises in 2007 indicators by 11.5% on average. Doing Business. These changes included a and a new corporate income tax law in 2008. Wide discrepancies between new company law in 2005, a new credit APEC members Despite the good start, the ease of do- FIGURE 6.4 Which APEC economies have advanced the most in narrowing the gap ing business still varies sharply among with the frontier? APEC members. Consider the process for starting a business. In New Zealand Distance to frontier (percentage points) it requires only 1 procedure and 1 day 100 and costs 0.4% of income per capita; in the Philippines it takes 16 procedures 2012 and 36 days and costs 18.1% of income 90 2005 per capita. Similarly, while dealing with 80 construction permits in Singapore takes 26 days and costs 16.7% of income per capita, in Russia it takes 344 days and 70 in Mexico it costs 322.7% of income per capita. 60 Indeed, APEC’s high-income members 50 perform substantially better in all 5 priority areas as measured by Doing Business than 40 its middle-income members do. And on Korea, Rep. Singapore New Zealand United States Hong Kong SAR, China Canada Australia Japan Malaysia Taiwan, China Thailand Chile Mexico Peru Vietnam Brunei Darussalama Papua New Guinea Russian Federation Philippines Indonesia China the aggregate ease of doing business they rank 59 places higher on average than middle-income members (figure 6.3). Moreover, while APEC as a whole is mak- ing improvements, its members are pro- Note: The distance to frontier measure shows how far on average an economy is from the best performance achieved by any gressing at very different rates. Among economy on each Doing Business indicator since 2005. The measure is normalized to range between 0 and 100, with 100 representing the best performance (the frontier). APEC members, China has made the a. Because Brunei Darussalam was first included in the aggregate ranking in Doing Business 2008 (2007), its distance to most progress toward the frontier in reg- frontier in 2012 is compared with that in 2007. ulatory practice (figure 6.4). In the past 8 Source: Doing Business database. APEC: SHARING GOALS AND EXPERIENCE 45 What does all this mean for APEC’s with those for issuing the trade license again play a role, by assisting other prospects of meeting its ambitious goal? and registering the business at the one- member economies in implementing APEC’s 2011 interim report on the initia- stop shop.11 regulatory reforms. tive delivered a clear message: if APEC is to improve the ease of doing business In Thailand an assessment by U.S. CONCLUSION by 25% by 2015, it must intensify and experts in July 2011 went beyond the APEC has focused on institutional, accelerate its efforts, including through aspects of business start-up measured regulatory and policy reforms to encour- capacity building programs.8 by Doing Business, resulting in a compre- age efficient functioning of markets and hensive report and policy recommenda- reduce barriers to regional trade since Sharing of information tions. The study found that Thailand, the early 2000s. The APEC Ease of Doing and experience by creating a customer-friendly and Business Action Plan represents only one While APEC members advocate building demand-driven system for business set of targets that APEC uses to encour- capacity and sharing experience as a registration, had made it substantially age regulatory reforms. But it provides a way of enhancing cooperation in a range easier to start a business as measured useful example of the application of Doing of areas, such efforts feature strongly by Doing Business. It also recommended Business indicators in setting concrete in the initiative to improve the ease of that the government broaden the focus collective targets and in monitoring and doing business. The action plan identi- of its efforts to improve business regis- assessing progress. fies champion economies with strong tration beyond the aspects captured by performance in each of the 5 priority the Doing Business indicators.12 The framework of capacity building areas to lead capacity building activities activities created through the action Korea, a champion for the topic of en- plan has proved useful in promoting in those areas. forcing contracts, is assisting Indonesia exchanges between member economies. In phase 1 (2009–11) the focus was on and Peru in developing customized Here, the diversity of APEC’s 21 member building awareness through seminars solutions. A Korean delegation visited economies—with different income and workshops to share information and Indonesia in January 2011 and Peru in levels and located in different geographic experience in each of the 5 priority areas. July 2011 to review the systems and pro- regions—has contributed to success. The APEC Secretariat and the champion cedures in place for enforcing contracts. By sharing experience and providing as- economies organized 6 topic-specific In addition, international seminars sistance to other APEC members, those seminars and workshops.9 were held in the 2 countries on ways to identified as champions in each of the improve such systems. Together, these priority areas can lift the APEC-wide In phase 2 (2012–15) the focus is on attracted more than 100 participants, performance. developing more customized capacity including judges, attorneys, professors building programs for economies seeking and government officials. In October Other regional bodies can learn from this specific assistance in their regulatory re- 2011 the Korean government brought model of capacity building. Doing Business form efforts. In these programs technical together legal experts and high-level 2012 found that in many economies the experts conduct diagnostic studies of an policy makers from Indonesia and Peru degree to which regulations and institu- economy’s priority area and develop prac- to discuss the future of both countries’ tions are business-friendly varies fairly tical recommendations for improvement. systems for enforcing contracts.13 widely across different areas of regula- While designed to directly benefit the tion.15 Regional bodies can take advantage participating economies, the programs Japan, a champion for the topic of getting of these differences, encouraging each also help move APEC closer to its collec- credit, is preparing a study on financing member economy to capitalize on its tive goal of making it 25% cheaper, faster for small and medium-size enterprises strengths by providing assistance in areas and easier to do business by 2015.10 in Thailand. Singapore is preparing a di- of strong performance to members with agnostic study on trading across borders weaker performance. Several programs focus on the area of for Peru and planning similar ones for starting a business. One is in Indonesia, Mexico and Vietnam. Singapore is also APEC appears poised to continue its ca- where an expert from New Zealand and planning diagnostic studies on dealing pacity building efforts, with talks already another from the United States made a with construction permits for Indonesia, under way on a new phase related to joint visit in July 2010 to collect data and Peru and Thailand.14 policy implementation. Because APEC information. The diagnostic report, issued is a voluntary and nonbinding forum, in August 2010, contains 8 concrete rec- The next phase of capacity building sustained engagement by top govern- ommendations. Among them is a recom- activities will focus on converting the ment officials from every APEC member mendation to consolidate the procedure diagnostic studies’ recommendations is needed to accelerate progress toward for labor and social insurance registration into actions. Champion economies will the goals it has set for itself. 46 DOING BUSINESS 2013 and Vietnam in 1998—bringing the 9. Based on information provided by the NOTES current membership to 21. APEC Policy Support Unit as of June This case study was written by Mikiko Imai 3. WTO Statistics Database, Trade Profile, 2012. Ollison, Paula Garcia Serna and Anastasia Shegay. http://stat.wto.org/. 10. APEC 2011b. 1. APEC 2010a. 4. WTO Statistics Database, Tariff Profile, 11. USAID and New Zealand Ministry of 2. APEC 2010b. The founding members of http://stat.wto.org/. Foreign Affairs and Trade 2010. APEC are Australia, Brunei Darussalam, 5. APEC 2005. 12. APEC 2012. Canada, Indonesia, Japan, Korea, 6. APEC 2011a. 13. Republic of Korea, Ministry of Justice Malaysia, New Zealand, the Philippines, 2011. 7. As Doing Business 2013 was going to Singapore, Thailand and the United press, the 2012 APEC Economic Policy 14. Based on information provided by the States. China; Hong Kong SAR, China; and Taiwan, China, joined in 1991. Report was scheduled to be released in APEC Policy Support Unit as of June Mexico and Papua New Guinea followed early October 2012. 2012. in 1993, Chile in 1994 and Peru, Russia 8. APEC 2011b. 15. World Bank 2011a, p. 7. 47 Does Doing Business matter for foreign direct investment? Many people who use Doing Business signal to foreign investors of the overall ƒ Even though Doing Business data—particularly in policy-making cir- quality of the business environment. And indicators focus on small to cles and in the private sector—associate some laws may indeed affect foreign- medium-size domestic firms, many better performance on the Doing Business owned firms in the same way that they policy makers have associated indicators with greater inflows of foreign affect domestic firms. improvements in the indicators direct investment (FDI), even though the with greater inflows of foreign methodology is not explicitly designed Given the interest of so many govern- direct investment (FDI). for this purpose. Since the launch of last ments in attracting more foreign invest- ƒ Cross-country correlations show year’s report nearly 2,000 articles in the ment, this raises an important question: that FDI inflows are indeed higher international press have drawn a con- does Doing Business actually matter for for economies performing better nection between FDI and Doing Business. FDI? If so, does this suggest that Doing on Doing Business indicators, Such articles often suggest that higher Business indicators reflect the quality even when taking into account Doing Business rankings will be associated of the investment climate at a broader differences across economies in with more foreign investment, which is level? This case study presents evidence other factors considered important believed to create jobs, bring in new tech- suggesting that they do—supporting for FDI. nologies and processes and have other a broader claim that economies that beneficial collateral effects on the real ƒ Results suggest that on average provide a good regulatory environment economy. And many senior government across economies, a difference of for domestic firms tend to also provide a officials have suggested that a better 1 percentage point in regulatory good one for foreign-owned firms. ranking for an economy implies that its quality as measured by Doing investment climate is more favorable to Business distance to frontier scores A FIRST LOOK AT THE LINK is associated with a difference in foreign investors. There is certainly a correlation between annual FDI inflows of $250–500 The case studies underpinning the Doing the overall ease of doing business and FDI million. Business indicators focus on small to flows. Grouping economies by the Doing ƒ Although this correlation does medium-size domestic firms, so the laws, Business distance to frontier score for not imply causation, the evidence regulations and practices tracked by the 2011,1 table 7.1 shows that those closest suggests that Doing Business project are not necessarily relevant to to the frontier in regulatory practice re- reflects more about the overall larger foreign-owned firms. But the qual- ceived substantially more FDI than those investment climate than what ity of the laws and regulations, and the in the middle, which in turn received sub- matters only to small and medium- extent to which this quality is reflected stantially more than those furthest from size domestic firms. in their implementation, may be a useful the frontier. Figure 7.1 demonstrates this ƒ In particular, these findings support the claim that economies TABLE 7.1 Average FDI inflows and stocks by tiers of economies grouped by their distance to that provide a good regulatory frontier, 2011 environment for domestic firms Average distance Economies grouped by Average FDI inflows Average FDI stocks to frontier tend to also provide a good one for distance to frontier (US$ millions) (US$ millions) (percentage points) foreign firms. Top 10 50,384 768,496 86.0 Middle 10 14,362 89,776 58.9 Lowest 10 1,257 8,179 34.2 Note: The distance to frontier measure is normalized to range between 0 and 100, with 100 representing the best performance (the frontier). Source: Doing Business database; United Nations Conference on Trade and Development, UNCTADstat database. 48 DOING BUSINESS 2013 FIGURE 7.1 Better overall regulation is correlated with more FDI inflows per capita well. Using a data set of regulations spe- Distance to frontier, 2011 cific to foreign investment, a study finds (percentage points) that the number of procedures required 100 to start a foreign-owned business and the strength of the arbitration regime both 80 have a significant and robust effect on FDI.6 60 What about Doing Business? Using 4 years of Doing Business data, a recent 40 study finds that a better Doing Business ranking is significantly associated with 20 larger FDI inflows7—strong support for the claim that higher Doing Business rank- 0 ings are a broad indicator of an attractive 0 300 600 900 1,200 1,500 investment climate. But the study is un- FDI inflows per capita, 2011 (US$) able to find evidence for smaller subsets Note: The distance to frontier measure is normalized to range between 0 and 100, with 100 representing the best performance of economies, such as for developing (the frontier). Sample includes 157 economies with positive 2011 FDI inflows per capita of $1,500 or less. This includes all economies.8 Related research finds that economies covered by Doing Business 2012 for which data are available, excluding outliers with negative inflows or inflows greater than $1,500 per capita. Dropping these outliers does not significantly affect the trend line. business regulations as measured by Source: Doing Business database; United Nations Conference on Trade and Development, UNCTADstat database. Doing Business influence the impact of FDI inflows: economies with more effec- graphically, using a different measure of the size of the market and its growth tive regulations for starting a business FDI: it shows that FDI inflows per person prospects, distance to important markets, benefit more from the FDI flows that they in 2011 were higher for economies that relative labor endowments and openness receive.9 were closer to the frontier. to trade tend to be important drivers of FDI. For example, the larger the market, WHAT DO THE DATA TELL US? But these are simple statistical correla- the greater the scope for economies of To expand on this existing body of tions looking at the relationship between scale in production and thus the greater research, Doing Business conducted its performance on the distance to frontier the chances for producing at competitive own econometric analysis of the relation- measure and FDI at a particular point in prices. Economies in Central and Eastern ship between Doing Business indicators time. What does more robust research Europe have received large inflows of FDI and FDI flows. The analysis generally say about the determinants of FDI flows? over the past couple of decades because follows the model established by an ear- they are seen as entry points into the lier study,10 considering the relationship RESEARCH ON FDI huge European market and also because between an economy’s performance on DETERMINANTS they have relatively well-educated labor Doing Business indicators and total FDI A large body of research has looked at forces. inflows from all other economies and the question of what the key drivers of The institutional and regulatory frame- taking into account differences in mac- FDI are. One approach in the literature work has also been shown to be an roeconomic and governance conditions. sees FDI as being market-seeking (driven important determinant of FDI. One study But it also adds to prior analysis in several by economy size and country location), finds that judicial independence and labor ways. It uses distance to frontier scores efficiency-seeking (driven by human market flexibility are significantly associ- rather than economy rankings, as a more capital or infrastructure quality) or ated with FDI inflows, depending on the precise measure of how far business resource-seeking (driven by the avail- sector of the investment.3 Another finds regulations are from the most efficient ability of natural resources or other that corruption is a significant deterrent practice. Most specifications use 1 year strategic assets). Numerous studies have to FDI, having an effect comparable to the of distance to frontier scores to explain measured the significance of these and impact of substantial increases in the tax subsequent years of FDI inflows, rather other explanatory variables.2 rate on foreign firms.4 Indirect taxes on than panel data over time. The analysis Many studies use a “gravity model,” foreign investors, which are higher than considers differences in natural resource which seeks to explain what causes FDI the direct foreign income taxes in many exports, and it covers a larger sample of flows between 2 specific countries. This countries, also significantly reduce FDI between 145 and 160 economies across research confirms that such factors as inflows.5 Business regulations matter as specifications.11 DOES DOING BUSINESS MATTER FOR FOREIGN DIRECT INVESTMENT? 49 The basic model considers whether FIGURE 7.2 Complexity and cost of starting a domestic business are strongly correlated with distance to frontier scores in 1 year are complexity of starting a foreign one associated with total FDI inflows in the Complexity of starting a foreign business, 2010 (distance to frontier, percentage points) following year. When taking into account differences in income, inflation, popula- 100 tion size, governance measures, openness to trade and exports of primary goods, the 80 analysis finds significant results: a better distance to frontier score is significantly 60 associated with larger inflows of FDI. To account for potential fluctuations 40 in annual FDI flows, a different model examines the distance to frontier score 20 for 2005 and average FDI inflows for the subsequent 5 years, and finds similar 0 results. When considering population 20 40 60 80 100 and income levels, as well as when using Complexity and cost of starting a domestic business, 2010 (distance to frontier, percentage points) several other model specifications, the analysis finds a significant positive as- Note: Figure plots the distance to frontier in starting a (domestic) business as measured by Doing Business and the distance to sociation between the distance to frontier frontier in starting a foreign business as measured by Investing Across Borders. The distance to frontier measure is normalized to range between 0 and 100, with 100 representing the best performance (the frontier). Scores are shown for the 92 score and FDI inflows. Other research has economies for which Investing Across Borders collected data in 2010. shown that Doing Business reforms are Source: Doing Business database; Investing Across Borders database. associated with greater domestic invest- ment and GDP growth,12 supporting the be associated with a 21% increase in its similar indicators from the Investing general finding that reforms that improve annual FDI inflows.13 Across Borders project, which focuses on the quality of the regulatory environment regulation of foreign direct investment.15 are positively associated with FDI inflows. GOOD REGULATIONS The correlation between the distance to In general, these results need to be ALL AROUND frontier measures of the 2 sets of indica- The strong and statistically significant tors is 57%. interpreted cautiously. Correlation of course does not imply causation. But the relationship between FDI and the overall This general relationship also holds for estimated magnitudes suggest that the level of regulation as measured by Doing comparable individual indicators from laws, regulations and practices captured Business indicators supports the claim Doing Business and Investing Across Borders by Doing Business may have a strong influ- that Doing Business data reflect more (figure 7.2). The correlation between the ence on FDI flows. Results suggest that about the overall investment climate complexity and cost of starting a local for an economy with an average distance than what matters only to small and company as measured by Doing Business to frontier score, moving 1 percentage medium-size local firms. These findings and the complexity of starting a local sub- point closer to the frontier regulatory en- also support the more general claim that sidiary of a foreign firm as measured by vironment is associated with $250–500 governments that regulate well in one Investing Across Borders is 81%.16 This cor- area, such as domestic business, tend million more in annual FDI inflows. These relation does not imply that the level of to also regulate well in other areas, such strong correlations, if upheld by further complexity is identical, however—indeed, as foreign investment. For example, a and more refined research, would have while it takes 8 procedures and 26 days working paper on transparency for this significant policy implications: they on average to start a local business in the year’s report highlights the positive cor- suggest that relatively modest improve- economies covered by Investing Across relation between a transparent approach ments in the regulatory environment Borders, it takes 10 procedures and 41 to governance in one regulatory area and could potentially attract substantial days on average to start a foreign-owned efficient regulation in other areas.14 increases in foreign investment. Consider company in those economies. the example of Costa Rica. If causation Comparing the Doing Business indicators is proven, the correlations suggest that with other measures of the regulatory CONCLUSION improving its score by just a percent- environment also supports this perspec- This case study presents evidence of a age point—to a regulatory environment tive. For example, some Doing Business significant correlation between the Doing comparable to that of Uruguay—would indicators are strongly correlated with Business indicators and flows of FDI. 50 DOING BUSINESS 2013 Although this does not imply causation, doing business index, which ranks economies, noting that this smaller the findings do support the claim that economies from 1 to 185. Another is the sample of economies is due to the use of distance to frontier, which measures how an unbalanced panel. Doing Business reflects more about the far an economy is from the most efficient 12. See, for example, Eifert (2009); and overall investment climate than what practice or highest score achieved by Haidar (2012). matters only to small and medium-size any economy since 2005 for each 13. These calculations were made using domestic firms. More definitive conclu- Doing Business indicator. This case study distance to frontier scores for 2009 and sions about the relationship between uses the distance to frontier measure data on FDI inflows in 2010 from the to capture not only how an economy United Nations Conference on Trade and Doing Business indicators and FDI will ranks relative to others but also how Development’s UNCTADstat database. require more refined research. One initial far it is from the most efficient busi- The calculation for Costa Rica uses a step could be to disaggregate FDI by ness regulatory practices identified by lower-end estimate of $300 million in sector—for example, to compare the Doing Business. For more details, see the FDI flows being associated with a 1 per- chapter on the ease of doing business centage point difference in the distance effect of business regulations on manu- to frontier score. and distance to frontier. facturing FDI with their effect on resource 14. Geginat, Gonzalez and Saltane 2012. 2. For an overview of such studies, see, for extraction FDI. If such research supports 15. The Investing Across Borders database example, Blonigen and Piger (2011); and the association between regulatory qual- Hornberger, Battat and Kusek (2011). launched by the World Bank Group ity as measured by Doing Business and the in 2010 presents indicators of FDI regula- 3. Walsh and Yu 2010. size of FDI flows, government officials and tion across economies. The Investing 4. Wei 2000. Across Borders indicators referenced in business analysts will have even stronger 5. Desai, Foley and Hines 2003. this case study are based on data for justification for claims that better Doing 87 economies published in the 2010 6. Waglé 2011. Business rankings should attract more FDI. Investing Across Borders report plus 5 ad- 7. Jayasuriya 2011. ditional economies for which data were 8. This suggests that the results may be collected but not included in that report. driven by differences between higher- NOTES 16. This correlation is calculated between and lower-income economies, not by This case study was written by John the distance to frontier in starting a variation within groups of economies. Anderson and Adrian Gonzalez. business as measured by Doing Business 9. Busse and Groizard 2008. 1. The Doing Business indicators can be and the distance to frontier in starting aggregated in multiple ways to create 10. Jayasuriya 2011. a foreign business as measured by composite measures of the investment 11. Jayasuriya (2011) estimates the influence Investing Across Borders, the same data as climate. One approach is the ease of of Doing Business rankings across 84 those shown in figure 7.2. 51 How transparent is business regulation around the world? Nobel Prize–winning economist Amartya newspapers publish data on monthly ƒ It is in OECD high-income Sen wrote in 2009 that lack of transpar- transfers of school grants to local govern- economies that businesses can ency in the global financial system was ments. By improving the ability of schools expect the most consistently easy among the main factors contributing to and parents to monitor how local officials access to regulatory information the financial crisis that began in 2008.1 handled the grants, the program reduced through websites or printed Had there been greater disclosure of the share of grant funding lost to cor- brochures. information, regulatory authorities could ruption from 80% to 20%.4 With more ƒ Access to fee schedules for have more effectively monitored the information, people can better evaluate regulatory processes is most explosive growth of increasingly so- different options and manage risks more limited in Sub-Saharan Africa and phisticated and opaque financial instru- effectively.5 the Middle East and North Africa, ments—and the crisis might have been where it is more common to have less severe. How much can transparency and ac- to meet with an official to obtain cess to information affect the quality of this information. An institutional environment character- the government services relevant for ized by openness and transparency is of ƒ The accessibility of regulatory businesses? A sizable body of literature central importance not only for private information varies with income already attests to the importance of markets but also for the effective and ef- level and internet penetration, information in ensuring the quality of ficient management of public resources.2 but resources are not the only public services in such areas as health, Lack of transparency around the decisions explanation. sanitation and education.6 But thus far made by policy makers and government ƒ Access to regulatory information little attention has been paid to this officials can lead to resource misalloca- is easier in economies that are role of information in the administrative tion as funds, rather than being directed characterized by greater political branches of government that implement toward their most productive ends, are accountability and that guarantee business regulation, such as company instead captured for private gain. Lack greater political and civil rights. and property registries, building depart- of transparency can also undermine the ments and power distribution utilities. ƒ Economies providing greater credibility of those who are perceived as access to regulatory information being its beneficiaries and thus sharply Yet the World Bank Enterprise Surveys tend to have more efficient limit their ability to gain public support suggest that there is much room for regulatory processes and lower for economic and other reforms. regulatory compliance costs. improvement in service quality and ac- Access to information can empower countability in business regulation. The citizens to monitor the quality of gov- companies surveyed report that in a ernment services and the use of public typical week their senior managers spend resources. Because government markets on average 11% of their time dealing with are usually monopolistic, the consumers government regulations. More than 50% of public services have no “exit” option— of them disagree with the notion that they cannot “vote with their feet” by regulations are implemented consistently going to a competitor for better services. and predictably. And what’s worse, com- Access to information is therefore critical panies often have to pay a bribe to get if citizens are to exercise their “voice” things done. Worldwide, 19% of firms in demanding greater accountability report having had to pay bribes in con- from public servants.3 The government nection with their application for an op- of Uganda demonstrated this by having erating license or electricity connection.7 52 DOING BUSINESS 2013 About two-thirds of these are small or such as fee schedules for their services. FIGURE 8.1 Which agencies are more likely to medium-size firms. In only 25% of economies do all 4 agen- make information accessible? cies make fee schedules easily accessible Share of economies where agency makes This year’s report presents new data through their websites or through bro- fee schedules easily accessible (%) that speak to the efforts at transparency chures or notice boards. These are mostly 79 made by government agencies tasked higher-income economies, but they also with implementing business regulation. include low- and lower-middle-income The data capture how governments economies such as Armenia, Burkina 64 make basic regulatory information such Faso, El Salvador, Georgia and Tanzania. 56 as fee schedules available to businesses. 53 Around the world company registries are Because agencies in many developing most likely to make information available economies may be unable to rely on online or through brochures or notice online solutions, the data also consider boards, and building departments least other ways of making information avail- likely to do so (figure 8.1). On the brighter able, such as brochures and notice boards side, in only 7 of 176 economies do all 4 (see box 8.1 for a description of the new of these agencies require that custom- data and the Doing Business website for ers meet with an official to obtain fee Company Property Distribution Building detailed data at the economy level).8 registry registry utility department schedules. HOW TRANSPARENT IS Source: Doing Business database. Access to fee schedules is most limited in BUSINESS REGULATION? Sub-Saharan Africa and the Middle East Company registries, property registries, and North Africa. Of the 7 economies are in Sub-Saharan Africa and the other building departments and power distribu- globally where fee schedules cannot be in the Middle East and North Africa.9 On tion utilities in too many economies make obtained from any of the agencies sur- average in these regions businesses are it difficult to access basic information veyed without meeting with an official, 6 unable to find fee schedules online or in a brochure for 2 of the 4 agencies. But there are notable exceptions. In Sub- BOX 8.1 HOW IS THE ACCESSIBILITY OF REGULATORY INFORMATION MEASURED? Saharan Africa, Burkina Faso, Mauritius, The new data on the accessibility of regulatory information, collected between South Africa and Tanzania guarantee January and August 2012, measure how easy it is to access fee schedules for 4 regula- easy access to information in all 4 tory processes in the largest business city of an economy: incorporating a new com- pany, obtaining a building permit, connecting a business to electricity and transferring regulatory areas. In the Middle East and property. Fee schedules are considered easily accessible if they can be obtained either North Africa, Oman and the United Arab through the website of the relevant agency or through public notices (brochures or Emirates provide the easiest access: in notice boards) available at that agency or a related one, without a need to meet with both these countries 3 of the 4 agencies an official. They are considered not easily accessible if they can be obtained only by meeting with an official. provide information without a need for a For incorporation fees the relevant agency is the company registry; for building per- meeting with an official. mit fees, the building department; for electricity connection fees, the distribution utility or electricity regulator; and for property transfer fees, the property registry. Businesses can expect consistently easy For each regulatory area, economies where information is easily accessible are as- access to information in OECD high- signed a score of 1; those where information is not easily accessible are assigned a income economies. More than 60% of score of 0. these economies make it easy to access Computed as a simple average of the scores for these 4 areas, an aggregate acces- information in all 4 regulatory areas sibility of information index is constructed for a sample of 176 economies for which covered by the new data. In Australia, the data are available for all 4 (see table). The index illustrates how consistent gov- Belgium, Denmark, Finland, Sweden and ernments are in their transparency efforts across different agencies and branches of the United States, for example, company government. registries, property registries, building Sample sizes for accessibility of information data departments and power distribution Measure Sample utilities all make fee schedules associ- Accessibility of information on incorporation fees 185 economies ated with their services available on the internet or through brochures. Greece, Accessibility of information on building permit fees 176 economies Hungary and Luxembourg are the only Accessibility of information on electricity connection fees 185 economies OECD high-income economies where Accessibility of information on property transfer fees 185 economies businesses still have to meet with an Accessibility of information index 176 economies official at 2 of the 4 agencies to get this information. HOW TRANSPARENT IS BUSINESS REGULATION AROUND THE WORLD? 53 FIGURE 8.2 Accessibility of regulatory information varies with economies’ income level and internet taken into account, economies with penetration easy access to regulatory information Accessibility of Internet users are more likely to be democratic, to be information index (% of population) generally more transparent and to guar- High 0.9 60 antee greater political and civil rights 0.8 50 (figure 8.3). Governments that provide 0.7 27 greater transparency in their business 0.6 40 regulatory environment are also more 0.5 40 transparent in other areas. To take 2 73 30 0.4 43 examples, they disclose more budgetary 0.3 20 information (as measured by the Open 50 0.2 57 60 Budget Index of the International Budget 10 0.1 50 Partnership), and they make greater ef- Low 0 0 forts to publicize laws and make them Low income Lower middle Upper middle High income income income comprehensible to the wider public (as Economies where fee schedules are available through brochures (%) measured by the Rule of Law Index of the Economies where fee schedules are available through websites (%) World Justice Project).10 Internet users Note: For an explanation of the accessibility of information index, see box 8.1. Relationships are significant at the 5% level MORE INFORMATION, BETTER after controlling for income per capita. BUSINESS REGULATION? Source: Doing Business database; World Bank, World Development Indicators database (2008 data). Greater access to regulatory information is also associated with more efficient WHO MAKES REGULATORY are multiple ways in which governments regulatory processes. Economies that INFORMATION EASY TO can share information with the public. make fee schedules consistently easy to ACCESS? Where internet access might be difficult, access rank higher on the ease of doing The accessibility of regulatory informa- for example, information can be distrib- business—and they keep regulatory com- tion varies with income level and internet uted though brochures and notice boards. pliance costs for firms significantly lower. penetration: low-income economies have Low-income economies such as Burkina Faso and Tanzania show that brochures Take the cost of starting a business. The the least regulatory transparency on can be an effective means of creating global average is a significant 31% of in- average, and high-income economies the more transparency around regulatory come per capita. Entrepreneurs in lower- most (figure 8.2). In OECD high-income information. income economies face even higher economies the accessibility of regula- costs, reaching 87% of income per capita tory information as measured by Doing The new data show that even when in Sub-Saharan Africa. But regardless of Business is 38% higher than the average differences in income per capita are income levels, official incorporation fees for the sample. Is the reason simply that richer economies have more resources to invest in online solutions and in other FIGURE 8.3 Access to regulatory information is greater where democracy and political rights ways to make information easily acces- are greater sible to the public? More political rights Variation within income groups suggests High access that making information easily acces- Moderate (44) access sible may not be entirely a question of Low access (53) (72) resources; for many governments it may No access also be a question of choice. Tanzania, a (7) low-income economy, makes more infor- Fewer political mation easily accessible than such high- rights income economies as Greece, Kuwait and Less democratic More democratic the United Arab Emirates. Cape Verde Note: The 176 economies in the sample are divided into 4 groups based on the accessibility of information index, and averages and Georgia, two lower-middle-income are taken for the economies in each group on institutionalized democracy ratings (for 2012) and political rights ratings (for economies, also have higher accessibil- 2010). Numbers in parentheses are the number of economies in each group. Relationships are significant at the 5% level after controlling for income per capita. ity levels than some richer economies. Source: Freedom House 2012; Center for Systemic Peace, Integrated Network for Societal Conflict Research; Doing Business Moreover, as figure 8.2 illustrates, there database. 54 DOING BUSINESS 2013 FIGURE 8.4 Incorporation and electricity FIGURE 8.5 Greater access to regulatory information is associated with greater trust in connection fees are lower in regulatory quality economies with greater disclosure of fee schedules and structures Regulatory quality High 1.5 Average cost to start a business (% of income per capita) High access 1.0 52 0.5 No access 0 26 -0.5 Low -1.0 Economies by accessibility of regulatory information Economies where Economies where Note: The 176 economies in the sample are divided into 5 groups based on the accessibility of information index, and averages fee schedules are fee schedules are not are taken for the economies in each group on the Regulatory Quality Index ranking of the Worldwide Governance Indicators easily accessible easily accessible for 2009. The Regulatory Quality Index, ranging from -2.5 (weak) to 2.5 (strong), measures public perception of government’s ability to formulate and implement sound policies. Relationships are significant at the 5% level after controlling for income per capita. Source: World Bank, Worldwide Governance Indicators; Doing Business database. Average cost to connect to electricity (% of income per capita) 2,351 access. Similar results were found for the to newspaper reports on drops in food fees to register property and to obtain a production and flood damage to crops is construction permit. more pronounced where elections loom close, political competition is strong and Moreover, access to basic regulatory voter turnout high.14 In short, information information is also positively associated is more powerful when it is comple- 1,148 with the trust the public places in its gov- mented by incentives that hold officials ernment. Where regulatory information is accountable. more consistently accessible, businesses perceive their government as being better The data and analysis presented here able to formulate and implement sound suggest that easier access to regula- Economies where Economies where policies and regulations that permit and tory information such as fee schedules fee schedules are fee schedules are not easily accessible easily accessible promote private sector development is associated with greater regulatory ef- Note: Fee schedules are considered easily accessible if (figure 8.5). ficiency, lower compliance costs and bet- they can be obtained through the website of the relevant ter regulatory quality for businesses. This authority or another government agency or through public notices, without a need for a meeting with an official. The CONCLUSION seems to confirm the findings of others data sample includes 185 economies. Relationships are significant at the 5% level after controlling for income per A growing body of empirical research who have shown that more transparency capita. suggests that while transparency alone and better-quality government tend to go Source: Doing Business database. might not be enough to increase gov- hand in hand.15 ernment accountability, it is certainly tend to be significantly lower in econo- necessary.12 A study of Brazilian mu- The correlations cannot answer the ques- nicipalities shows that mayors are less tion whether greater transparency might mies where fee schedules are easily ac- corrupt where citizens can gain access lead to better governments or whether cessible (figure 8.4).11 Starting a business to municipal budget reports, but only in better governments might also simply costs 26% of income per capita on aver- the municipalities where electoral rules be more transparent. Yet it seems that age in economies where fee schedules stipulate the possibility for reelection improving transparency could at least be are publicly available, but 52% where a good start in increasing the account- of a mayor. Where mayors cannot be they are not. Similarly, getting a new elec- reelected, access to budgetary informa- ability of public agencies charged with tricity connection costs more than twice tion has no effect in reducing corruption.13 implementing regulations. Only when as much in economies where information Similarly, a study in India found evidence citizens have access to information do on the connection fees is more difficult to that local governments’ responsiveness they also have a chance to act on the HOW TRANSPARENT IS BUSINESS REGULATION AROUND THE WORLD? 55 information and use it to pressure for 7. In addition, research suggests that 13. Ferraz and Finan 2011. greater accountability of public agents. enterprise surveys in corrupt countries 14. Besley and Burgess 2002. tend to understate the gravity of the cor- The effort appears to be worth making, 15. See, for example, Islam (2006); and ruption problem. Jensen, Li and Rahman and as the data here show, it need not Williams (2009). Islam (2006) finds (2010) find that enterprises in countries that governments that are time- always be costly. Sometimes printing a with less press freedom are more likely to lier in releasing important political and simple brochure might be enough. provide no responses or false responses macroeconomic data also rank better on on the issue of corruption. Corruption is various measures of good governance. understated in such countries. Using Granger causality regressions, NOTES 8. Fee schedules are generally made Williams (2009) shows that the release This case study was written by Carolin available by implementing agencies and of information by governments has Geginat. are not part of national legislation. The a positive short-term effect on the accessibility of this type of regulatory quality of bureaucracy. The analysis 1. Amartya Sen, “Adam Smith’s Market information therefore speaks directly to uses data similar to those employed by Never Stood Alone,” Financial Times, the openness and transparency efforts of March 11, 2009, http://www.ft.com/. Islam (2006) as well as measures of particular government agencies. corruption, the size of government and 2. Hirschman 1970; Paul 1992; Stiglitz 9. These economies are Botswana, the education, along with trade variables as 2003; Kaufmann 2003. Republic of Congo, Equatorial Guinea, control variables. 3. Exit and voice are terms introduced by Eritrea, Gabon and Mauritania in Sub- Hirschman (1970) in his discussion on Saharan Africa and Iraq in the Middle how consumers can respond to poor- East and North Africa. quality provision of goods and services. 10. Geginat, Gonzalez and Saltane 2012. 4. Reinikka and Svensson 2005. 11. The correlations were calculated on the 5. Akerlof 1970; Stiglitz and Weiss 1981; basis of official regulatory compliance Hirshleifer 1980; Stigler 1971. costs only. Bribes that might have to be 6. See, for example, World Bank (2004); paid as well in some economies are not Reinikka and Svensson (2005); Deininger captured by the cost estimates. and Mpuga (2005); and Besley and 12. See Olken (2007); Besley and Burgess Burgess (2002). (2002); and Ferraz and Finan (2011). 56 Starting a business ƒ Starting a business is easiest in Entrepreneurs around the world face the number of newly registered firms New Zealand, where it takes 1 a range of challenges. One of them is and sustained gains in economic perfor- procedure, 1 day, less than 1% of inefficient regulation. Doing Business mance, including improvements in em- income per capita and no paid-in measures the procedures, time, cost and ployment and productivity.1 For example, minimum capital. paid-in minimum capital required for a in both Canada and the United States small or medium-size limited liability empirical research finds that economic ƒ From June 2011 to June 2012 Doing company to start up and formally oper- growth is driven by the entry of new for- Business recorded 36 reforms ate. To make the data comparable across mal businesses rather than by the growth making it easier to start a business. 185 economies, Doing Business uses a of existing firms.2 In Mexico the number ƒ Burundi made the biggest standardized business that is 100% of registered businesses increased by 5% improvement in the ease of starting domestically owned, has start-up capital and employment by 2.2% after business a business in the past year. equivalent to 10 times income per capita, registration was simplified in different ƒ Madagascar is among the engages in general industrial or com- municipalities.3 economies advancing the furthest mercial activities and employs between toward the frontier in regulatory 10 and 50 people within the first month WHO REFORMED IN STARTING practice in starting a business of operations. A BUSINESS IN 2011/12? since 2005. According to a recent review, evidence In 2011/12, 36 economies made it easier ƒ Simplifying company registration from several studies shows that reforms to start a business (table 9.1). Five others formalities was the most common making it easier to start a formal busi- made the process more difficult. Among feature of business start-up ness are associated with increases in those making it easier, some created online reforms in the past 8 years. ƒ Among regions, Eastern Europe TABLE 9.1 Who made starting a business easier in 2011/12—and what did they do? and Central Asia has improved the Feature Economies Some highlights business start-up process the most Simplified registration Albania; Benin; Bulgaria; Albania made the notarization of since 2005. formalities (seal, publication, Burundi; China; Colombia; incorporation documents optional, cutting notarization, inspection, other Comoros; Democratic procedures by 1, time by 1 day and cost by For more information on good practices requirements) Republic of Congo; Republic 7% of income per capita. The Netherlands and research related to starting a of Congo; Lesotho; FYR eliminated the requirement for a declara- Macedonia; Netherlands; tion of nonobjection before incorporation, business, visit http://www Romania; Slovak Republic; cutting procedures by 1, time by 3 days .doingbusiness.org/data/ Tanzania; Togo; Ukraine; and cost by €91. Uzbekistan; Vietnam exploretopics/starting-a-business. Abolished or reduced minimum Kazakhstan; Kosovo; Mexico; Mexico eliminated its minimum capital For more on the methodology, see the capital requirement Mongolia; Morocco; Norway; requirement for limited liability companies. section on starting a business in the Serbia Norway reduced its requirement by 70%. data notes. Created or improved one-stop Burundi; Chad; Guinea; Guinea created a one-stop shop for busi- shop Lao PDR; Lesotho; ness start-up, cutting 6 procedures and 5 Madagascar; Thailand days from the start-up process. Cut or simplified Costa Rica; Sri Lanka; United Sri Lanka computerized and expedited the postregistration procedures Arab Emirates process of obtaining registration numbers (tax registration, social security with the Employees Provident Fund and registration, licensing) Employees Trust Fund. This cut time by 29 days. Introduced or improved online Ireland; Lithuania Ireland introduced an online facility for procedures business registration, reducing time by 3 days and cost by a third. Source: Doing Business database. STARTING A BUSINESS 57 FIGURE 9.1 Burundi made starting a business easier in 2011/12 by setting up a one-stop shop have abolished the paid-in minimum Time (days) capital requirement (figure 9.3). 14 In 2005 only 2 low-income economies 12 made it easier to start a business. Seven 10 years later 9 did so. As a result, today 2 Before one-stop shop low- or lower-middle-income economies 8 After one-stop shop rank among the top 10 globally on the 6 ease of starting a business (table 9.2). 4 Changes in 2011/12 eliminated 4 procedures, cut time by 5 days and reduced cost by 98.4% of income Madagascar is among the economies 2 per capita advancing furthest toward the frontier in 0 regulatory practice in starting a business 1 2 3 4 5 6 7 8 since 2005 (table 9.3). This is thanks to 6 Procedures reforms making business start-up easier. Source: Doing Business database. The country set up a one-stop shop and improved its services over time. It also services and standard registration docu- Globally, Burundi improved the most simplified registration formalities and ments, which go a long way in facilitating in the ease of starting a business in the the publication requirement. Finally, it re- swift and legally sound incorporation. past year. The government reduced tax duced and then progressively eliminated registration costs and created a one-stop the paid-in minimum capital requirement. Lithuania introduced an online facil- shop at the Burundi Revenue Authority, Other economies also made steady ity for business registration. Sri Lanka bringing together representatives from progress over time: Guinea-Bissau and computerized and expedited the process several agencies involved in the business Tajikistan both implemented a one-stop of obtaining registration numbers with start-up process (figure 9.1). shop and simplified business registration the social security agencies. Other procedures. economies—including Mongolia and WHAT HAVE WE LEARNED Introducing information and communi- Serbia—eliminated the paid-in minimum FROM 8 YEARS OF DATA? cation technology has been a common capital requirement. Norway reduced it. In the past 8 years Doing Business recorded feature of start-up reforms, and today To encourage entrepreneurship among 368 business registration reforms in 149 106 economies use it for services rang- youth, Italy created a new type of lim- economies (figure 9.2). Globally since ing from name search to full online ited liability company with a simplified 2005, the average time to start a business business registration. Of these, more incorporation process for people under has fallen from 50 days to 30—and in than 40 offer electronic registration age 35. Now it is working to extend this low-income economies the average has services. Several economies with the option to all entrepreneurs. been reduced by half. Many economies fastest business start-up offer electronic FIGURE 9.2 Sub-Saharan Africa and Eastern Europe & Central Asia still lead in start-up reforms Number of Doing Business reforms making it easier to start a business by Doing Business report year Sub-Saharan Africa (46 economies) 3 10 12 14 16 7 15 11 Eastern Europe & Central Asia (24 economies) 9 10 8 8 11 9 10 10 DB2006 Latin America & Caribbean DB2007 (33 economies) 5 9 4 6 9 10 8 3 DB2008 OECD high income (31 economies) 9 8 8 8 6 6 4 4 DB2009 East Asia & Pacific DB2010 (24 economies) 6 4 3 3 7 6 9 5 DB2011 Middle East & North Africa (19 economies) 4 4 4 9 9 3 6 2 DB2012 South Asia DB2013 (8 economies) 212 2 3 211 0 10 20 30 40 50 60 70 80 90 Note: An economy can be considered to have only 1 Doing Business reform per topic and year. The data sample for DB2006 (2005) includes 174 economies. The sample for DB2013 (2012) also includes The Bahamas, Bahrain, Barbados, Brunei Darussalam, Cyprus, Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar, for a total of 185 economies. Source: Doing Business database. 58 DOING BUSINESS 2013 FIGURE 9.3 Worldwide, big cuts in the time and paid-in minimum capital requirement to TABLE 9.2 Where is starting a business start a business easiest—and where most difficult? Average time to start a business (days) Easiest RANK Most difficult RANK New Zealand 1 Côte d’Ivoire 176 OECD high income DB2013 Australia DB2006 2 Iraq 177 Canada 3 Suriname 178 Eastern Europe & Central Asia DB2013 DB2006 Singapore 4 West Bank and 179 Gaza South Asia DB2013 DB2006 Macedonia, 5 Congo, Rep. 180 FYR Middle East & North Africa DB2013 DB2006 Hong Kong 6 Chad 181 SAR, China East Asia & Pacific DB2013 DB2006 Georgia 7 Equatorial 182 Guinea Sub-Saharan Africa DB2013 DB2006 Rwanda 8 Eritrea 183 Latin America & Caribbean DB2013 Belarus 9 Haiti 183 DB2006 Ireland 10 Djibouti 185 0 10 20 30 40 50 60 70 80 Note: Rankings are the average of the economy’s rankings on the procedures, time, cost and paid-in Share of economies with no paid-in minimum capital requirement (%) minimum capital for starting a business. See the data notes for details. Economies shown with the same number are tied in the ranking. OECD high income DB2013 DB2006 Source: Doing Business database. DB2013 Eastern Europe & Central Asia DB2006 DB2013 TABLE 9.3 Who has narrowed the distance to South Asia DB2006 frontier in starting a business the Middle East & North Africa DB2013 most since 2005? DB2006 Improvement in DB2013 distance to frontier East Asia & Pacific DB2006 Most improved (percentage points) DB2013 Guinea-Bissau 63 Sub-Saharan Africa DB2006 (0Æ63) DB2013 Yemen, Rep. 57 Latin America & Caribbean DB2006 (17Æ74) 0 15 30 45 60 75 Tajikistan 55 Note: To ensure an accurate comparison, the figure shows data for the same sample of 174 economies for both DB2006 (30Æ85) (2005) and DB2013 (2012) and uses the regional classifications that apply in 2012. The economies added to the Doing Angola 53 Business sample after 2005 and therefore excluded here are The Bahamas, Bahrain, Barbados, Brunei Darussalam, Cyprus, (7Æ60) Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar. DB2006 data are adjusted for any data revisions and changes in methodology. Madagascar 52 (43Æ95) Source: Doing Business database. Saudi Arabia 50 (31Æ81) Egypt, Arab Rep. 46 registration—New Zealand, Australia, or improved theirs in the past 8 years. (42Æ88) Singapore, Canada, Portugal, Denmark Timor-Leste 45 Ninety-one economies require no paid-in (16Æ61) and Estonia (table 9.4). And online minimum capital, and many others have Mali 41 services are increasingly being offered in (26Æ67) developing economies. lowered the requirement. The average Mozambique 41 (40Æ81) paid-in minimum capital requirement has Eighty-eight economies have some sort Note: The distance to frontier measure shows how far on of one-stop shop for business registra- fallen from 183% of income per capita to average an economy is from the best performance achieved by any economy on each Doing Business indicator since tion, including the 58 that established only 44% since 2005. 2005—in this case for the starting a business indicators. The measure is normalized to range between 0 and 100, with 100 representing the best performance (the frontier). The data refer to the 174 economies included in Doing Business 2006 (2005). Eleven economies were added in subsequent years. The first column lists the top 10 most improved economies in order; the second shows the absolute improvement in the distance to frontier between 2005 and 2012. Source: Doing Business database. STARTING A BUSINESS 59 TABLE 9.4 Who makes starting a business easy—and who does not? NOTES Procedures (number) Cost (% of income per capita) This topic note was written by Karim O. Fewest Most Least Most Belayachi, Paula Garcia Serna, Hussam Canada 1 Honduras 13 Slovenia 0.0 Côte d’Ivoire 130.0 Hussein and Frédéric Meunier. New Zealand 1 Suriname 13 Denmark 0.2 Ethiopia 135.3 1. Motta, Oviedo and Santini 2010. Australia 2 Algeria 14 Ireland 0.3 Micronesia, Fed. Sts. 144.2 2. Klapper and Love 2011b. Georgia 2 Argentina 14 South Africa 0.3 Comoros 150.0 3. Bruhn 2011. Kyrgyz Republic 2 Bolivia 15 Canada 0.4 Djibouti 150.7 Macedonia, FYR 2 Brunei 15 New Zealand 0.4 Gambia, The 158.7 Darussalam Madagascar 2 Uganda 15 Sweden 0.5 Central African 172.6 Republic Rwanda 2 Philippines 16 Singapore 0.6 Chad 202.0 Slovenia 2 Venezuela, RB 17 Kazakhstan 0.6 Congo, Dem. Rep. 284.7 Armenia 3 Equatorial Guinea 18 Australia 0.7 Haiti 286.6 Time (days) Paid-in minimum capital % of income Fastest Slowest Most per capita US$ New Zealand 1 Zimbabwe 90 Chad 289 1,997 Australia 2 Lao PDR 92 Guinea 325 1,428 Georgia 2 Timor-Leste 94 Mauritania 328 3,279 Macedonia, FYR 2 Brunei 101 Mali 332 2,025 Darussalam Hong Kong SAR, 3 Haiti 105 Guinea-Bissau 338 2,028 China Rwanda 3 Brazil 119 Burkina Faso 354 2,017 Singapore 3 Equatorial Guinea 135 Togo 366 2,047 Albania 4 Venezuela, RB 144 Djibouti 384 5,627 Belgium 4 Congo, Rep. 161 Central African Republic 444 2,087 Canada 5 Suriname 694 Niger 573 2,062 Note: Ninety-one economies have no paid-in minimum capital requirement. Source: Doing Business database. 60 Dealing with construction permits ƒ Dealing with construction permits Construction regulation matters for TABLE 10.1 Where is dealing with is easiest in Hong Kong SAR, China, public safety. If procedures are too construction permits easiest— where it takes 6 procedures and 67 complicated or costly, builders tend and where most difficult? days to complete this process. to proceed without a permit.1 By some Easiest RANK Most difficult RANK estimates 60–80% of building projects Hong Kong 1 Montenegro 176 ƒ From June 2011 to June 2012 Doing SAR, China in developing economies are undertaken Business recorded 20 reforms Singapore 2 Azerbaijan 177 without the proper permits and approv- making it easier to deal with Georgia 3 Russian 178 als.2 Construction regulation also matters Federation construction permits. for the health of the building sector and Marshall 4 Serbia 179 ƒ Taiwan, China, made the biggest the economy as a whole. According to a Islands improvement in the ease of dealing recent study, the construction industry St. Vincent and 5 Tajikistan 180 the Grenadines with construction permits in the accounts on average for 6.5% of GDP New Zealand 6 China 181 past year. in OECD economies.3 Good regulations Bahrain 7 India 182 ƒ FYR Macedonia has advanced the help ensure the safety standards that Denmark 8 Ukraine 183 furthest toward the frontier in protect the public while making the per- Taiwan, China 9 Albaniaa 185 regulatory practice in construction mitting process efficient, transparent and Grenada 10 Eritreaa 185 permitting since 2005. affordable. Note: Rankings are the average of the economy’s rankings on the procedures, time and cost to comply ƒ Among regions, Eastern Europe To measure the ease of dealing with con- with formalities to build a warehouse. See the data notes and Central Asia has made the struction permits, Doing Business records for details. a. Albania and Eritrea are both “no practice” economies biggest improvements in the the procedures, time and cost required with barriers preventing private builders from legally ease of dealing with construction for a small to medium-size business to obtaining a building permit. They are tied in the ranking. permits since 2005. Source: Doing Business database. obtain all the necessary approvals to ƒ Introducing or improving one- build a simple commercial warehouse stop shops was among the most and connect it to water, sewerage and a fixed telephone line (table 10.1). The case longer and costlier. East Asia and the common features of construction study includes all types of inspections Pacific, Latin America and the Caribbean, permitting reforms in the past 8 years. and certificates needed before, during OECD high-income economies and Sub- and after construction of the warehouse. Saharan Africa had the largest number For more information on good To make the data comparable across 185 making it easier, all with 4, followed by practices and research related to dealing with construction permits, economies, the case study assumes that Eastern Europe and Central Asia with 3 visit http://www.doingbusiness the warehouse is located in the periurban and South Asia with 1. The Middle East .org/data/exploretopics/dealing- area of the largest business city, is not in and North Africa implemented no major with-construction-permits. For more a special economic or industrial zone and regulatory improvements in the area on the methodology, see the section will be used for general storage activities. of dealing with construction permits in on dealing with construction permits 2011/12. in the data notes. WHO REFORMED IN DEALING WITH CONSTRUCTION Taiwan, China, made the biggest im- PERMITS IN 2011/12? provement in the ease of dealing with From June 2011 to June 2012 Doing construction permits in the past year (fig- Business recorded 20 reforms making it ure 10.1). By early 2012 the city of Taipei easier to deal with construction permits had finished implementing a single win- (table 10.2). Six others made the process dow for preconstruction approvals and DEALING WITH CONSTRUCTION PERMITS 61 TABLE 10.2 Who made dealing with construction permits easier in 2011/12— TABLE 10.3 Who makes dealing with and what did they do? construction permits easy— Feature Economies Some highlights and who does not? Streamlined Burundi; China; Burundi eliminated the requirement to obtain a clearance Procedures (number) procedures Costa Rica; from the Ministry of Health and reduced the cost of the Fewest Most Netherlands; Panama; geotechnical study. Peru; Portugal; Hong Kong 6 Azerbaijan 28 Russian Federation SAR, China Reduced time for Benin; Burundi; India implemented strict time limits at the municipality for New Zealand 6 Guinea 29 processing permit Greece; India; processing building permits. St. Lucia 7 Philippines 29 applications Malaysia; Norway; Portugal Sweden 7 Poland 29 Introduced or Brunei Darussalam; Taiwan, China, introduced a risk-based, self-regulatory Colombia 8 Kazakhstan 32 improved one-stop Malaysia; Taiwan, inspection system and improved operational features of its Denmark 8 Czech Republic 33 shop China one-stop shop for building permits. Jamaica 8 El Salvador 33 Reduced fees Republic of Congo; The Republic of Congo reduced the cost of first-time Guinea; Montenegro registration of the building. Spain 8 India 34 Improved electronic Costa Rica; The Netherlands merged several types of approvals and St. Vincent and 8 Malaysia 37 platforms or online Netherlands implemented online application systems. the Grenadines services Thailand 8a Russian 42 Introduced risk-based Guatemala; Turkey Guatemala introduced a risk-based approval system for Federation approvals building permits. Source: Doing Business database. Time (days) Fastest Slowest Singapore 26 Mozambique 377 another for postconstruction approvals in making it easier to deal with construction United States 27 Venezuela, RB 381 its one-stop shop. In addition, authorities permits (figure 10.2). Eastern Europe and Korea, Rep. 29 Barbados 416 issued new rules on private inspections. Central Asia had the most, with 39, fol- Bahrain 43 Suriname 461 These allow builders to perform inspec- lowed by Sub-Saharan Africa (33), Latin Colombia 46 Brazil 469 tions during the construction of lower- America and the Caribbean (22), OECD United Arab 46 Côte d’Ivoire 475 risk commercial buildings with fewer high-income economies (22), East Asia Emirates than 5 floors. The changes eliminated 14 and the Pacific (16), the Middle East and Vanuatu 54 Zimbabwe 614 procedures and 31 days from the process North Africa (13) and South Asia (1). Qatar 62 Cambodia 652 of dealing with construction permits. Finland 66 Cyprus 677 Economies in Eastern Europe and Central Hong Kong 67 Haiti 1,129 SAR, China WHAT HAVE WE LEARNED Asia have achieved the biggest time sav- FROM 8 YEARS OF DATA? ings since 2005, reducing the time to deal Cost (% of income per capita) In the past 8 years 83 economies around with construction permits by 88 days on Least Most the world implemented 146 reforms average (figure 10.3). Qatar 1.1 Congo, Dem. 1,582.7 Rep. Brunei 4.0 Niger 1,612.8 FIGURE 10.1 Taiwan, China, made dealing with construction permits faster and easier Darussalam Trinidad and 5.3 Zambia 1,679.1 Tobago Time (days) St. Kitts and 5.4 Burundi 1,911.9 140 14 procedures eliminated Nevis 120 Hungary 5.7 Djibouti 2,023.6 31 days saved Slovak 7.3 Mauritania 2,796.6 100 Republic Palau 7.6 Kosovo 2,986.0 80 Dominica 7.6 Afghanistan 4,308.6 60 Maldives 8.2 Zimbabwe 4,423.4 40 Improving the one-stop shop and introducing private Barbados 8.3 Chad 5,106.8 inspections cut procedures and time a. Five other economies also have 8 procedures for 20 dealing with construction permits: Belize, Grenada, Guyana, Maldives and the Marshall Islands. 0 Source: Doing Business database. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Procedures 2011 2012 Source: Doing Business database. 62 DOING BUSINESS 2013 FIGURE 10.2 Eastern Europe and Central Asia keeps up its fast pace in construction permitting TABLE 10.4 Who has narrowed the distance reforms to frontier in dealing with Number of Doing Business reforms making it easier to deal with construction permits by construction permits the most Doing Business report year since 2005? Improvement in Eastern Europe & Central Asia DB2006 (24 economies) 4 6 3 5 10 5 3 3 distance to frontier DB2007 Most improved (percentage points) Sub-Saharan Africa 3 5 6 3 7 5 4 Macedonia, FYR (46 economies) DB2008 46 Latin America & Caribbean DB2009 (36Æ82) (33 economies) 1 2 2 2 4 4 3 4 DB2010 Kyrgyz Republic 42 OECD high income (31 economies) 4 5 11 4 1 2 4 (39Æ81) DB2011 East Asia & Pacific Tajikistan 41 (24 economies) 1 2 2 3 2 11 4 DB2012 (11Æ52) Middle East & North Africa DB2013 (19 economies) 3 1 7 11 Burkina Faso 39 South Asia (43Æ82) 1 (8 economies) Nigeria 34 0 5 10 15 20 25 30 35 40 45 (44Æ78) Note: An economy can be considered to have only 1 Doing Business reform per topic and year. The data sample for DB2006 Georgia 31 (2005) includes 174 economies. The sample for DB2013 (2012) also includes The Bahamas, Bahrain, Barbados, Brunei (61Æ92) Darussalam, Cyprus, Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar, for a total of 185 economies. Equatorial Guinea 30 Source: Doing Business database. (45Æ75) Hong Kong SAR, China 30 (67Æ97) Among the most difficult changes to im- location. These one-stop shops improve Guatemala 26 plement is the introduction or improve- the organization of the review process— (51Æ77) ment of a one-stop shop. Construction not by reducing the number of checks São Tomé and Príncipe 26a (53Æ79) approval systems usually involve many needed but by better coordinating the Note: The distance to frontier measure shows how far different agencies. To prevent overlap in efforts of the agencies involved. In the on average an economy is from the best performance achieved by any economy on each Doing Business their roles and ensure efficiency, many past 8 years 18 regulatory reforms were indicator since 2005—in this case for the dealing economies have opted to put represen- implemented to set up or improve one- with construction permits indicators. The measure is normalized to range between 0 and 100, with 100 tatives from many agencies in a single stop shops, including the efforts made representing the best performance (the frontier). The data refer to the 174 economies included in Doing Business 2006 (2005). Eleven economies were added in FIGURE 10.3 Biggest time savings in Eastern Europe and Central Asia subsequent years. The first column lists the top 10 most improved economies in order; the second shows the Average time to deal with construction permits (days) absolute improvement in the distance to frontier between 2005 and 2012. OECD high income DB2013 a. The Democratic Republic of Congo and Croatia also DB2006 have an improvement of 26 percentage points. Source: Doing Business database. East Asia & Pacific DB2013 DB2006 by Brunei Darussalam, Malaysia and Middle East & North Africa DB2013 DB2006 Taiwan, China, in 2011/12. The 2 regions with the most such reforms are East Sub-Saharan Africa DB2013 DB2006 Asia and the Pacific (with 5) and Eastern Europe and Central Asia (with 5). South Asia DB2013 DB2006 Introducing risk-based approval systems Eastern Europe & Central Asia DB2013 is also a complex yet important change. DB2006 Not all building projects are associated Latin America & Caribbean DB2013 DB2006 with the same economic or environmental 0 50 100 150 200 250 300 risks. It therefore makes sense to differen- tiate construction permitting processes to Before construction (including building permit) During and after construction, utility connections treat buildings according to their risk level and location. This saves time for both en- Note: To ensure an accurate comparison, the figure data includes172 practice economies for both DB2006 (2005) and DB2013 (2012) and uses the regional classifications that apply in 2012. The economies added to the Doing Business sample after 2005 trepreneurs and authorities and allows and therefore excluded here are The Bahamas, Bahrain, Barbados, Brunei Darussalam, Cyprus, Kosovo, Liberia, Luxembourg, them to direct their efforts and resources Malta, Montenegro and Qatar. DB2006 data are adjusted for any data revisions and changes in methodology. more efficiently. Seventeen regulatory Source: Doing Business database. reforms introduced risk-based approvals DEALING WITH CONSTRUCTION PERMITS 63 in the past 8 years, including those in improve regulations. FYR Macedonia has per capita. Today it takes 10 procedures Guatemala and Turkey in 2011/12. Eastern advanced the furthest toward this frontier and 117 days and costs 518% of income Europe and Central Asia led the way with since 2005 (table 10.4). per capita. 7 such reforms, followed by Latin America and the Caribbean with 4. Authorities in Skopje implemented 4 reforms making it easier to deal with con- NOTES Many economies have gone particularly struction permits, including passing new This topic note was written by far in closing the gap with the most ef- construction laws, privatizing part of the Marie Lily Delion, Anastasia Shegay, ficient regulatory systems for dealing inspection process and reducing several Alejandro Espinosa-Wang and Yucheng Zheng. with construction permits, such as those fees. The changes made a difference for 1. Moullier 2009. in Hong Kong SAR, China, and Georgia builders in FYR Macedonia. In 2005 com- 2. De Soto 2000. (table 10.3). Those making the greatest plying with all regulatory requirements 3. OECD 2010.  progress toward the frontier in regula- for constructing the standard warehouse tory practice in this area have been able took 20 procedures and 244 days and to do so thanks to a continual effort to cost the equivalent of 2,439% of income 64 Getting electricity ƒ Getting an electricity connection is Infrastructure services, particularly elec- TABLE 11.1 Where is getting electricity easiest in Iceland, where it takes 4 tricity, are a concern for businesses around easiest—and where most procedures and 22 days. the world. World Bank Enterprise Surveys difficult? show that managers in 109 economies, 71 Easiest RANK Most difficult RANK ƒ From June 2011 to June 2012 Doing Iceland of them low or lower middle income, con- 1 Sierra Leone 176 Business recorded 13 reforms Germany sider electricity to be among the biggest 2 Kyrgyz Republic 177 making it easier to get electricity. constraints to their business. In addition, Korea, Rep. 3 Nigeria 178 ƒ Armenia made the biggest managers estimate losses due to power Hong Kong 4 Malawi 179 SAR, China improvement in the ease of getting outages at an average 5.1% of annual Singapore 5 Senegal 180 electricity in the past year. sales.1 Taiwan, China 6 Tajikistan 181 ƒ Vanuatu and The Gambia have United Arab Doing Business measures the procedures, 7 Guinea-Bissau 182 advanced the furthest in narrowing Emirates the gap with the most efficient time and cost for a small to medium-size Switzerland 8 Madagascar 183 regulations governing electricity business to get a new electricity connec- Sweden 9 Russian 184 connections since 2010. tion for a warehouse. To make the data Federation comparable across 185 economies, Doing Thailand 10 Bangladesh 185 ƒ Sub-Saharan Africa, the region Business uses a standardized case study of Note: Rankings are the average of the economy’s where improvements are most a newly established warehouse requiring rankings on the procedures, time and cost to get an electricity connection. See the data notes for details. needed, leads in the number a connection 150 meters long and with Source: Doing Business database. of reforms making electricity a power need of 140 kilovolt-amperes regulations more business-friendly. (kVA). The warehouse is assumed to be For more information on good located in the largest business city, in an connection delays and the duplication of practices and research related to area where warehouses usually locate formalities. In Canada a more efficient getting electricity, visit http://www. and electricity is most easily available. process for obtaining the excavation doingbusiness.org/data/exploretopics/ permit and materials needed for the getting-electricity. For more on the connection reduced the time to get a methodology, see the section on getting WHO REFORMED IN GETTING ELECTRICITY IN 2011/12? new electricity connection by 26 days. In electricity in the data notes. Indonesia in 2011 the utility PT PLN set Economies where getting an electric- up a call center enabling customers to ity connection is easy have several good request a new electricity connection by practices in common (table 11.1). Other phone. It further simplified the applica- economies are adopting some of these tion process by eliminating the require- practices. From June 2011 to June 2012 ment to bring in a copy of a neighbor’s Doing Business recorded 13 reforms that bill to help determine the exact address made getting electricity easier (table of the new customer’s business. 11.2). Two economies introduced changes that made connections costlier. As these examples show, small adjust- ments can lead to big gains in time Improving process efficiency within the utility and streamlining approvals and efficiency. Other economies have with other public agencies are the most adopted broader approaches. Armenia common features of reforms making it and Georgia streamlined procedures easier to get electricity. These are also and revised connection costs through among the most effective ways to reduce several amendments to the regulations GETTING ELECTRICITY 65 TABLE 11.2 Who made getting electricity easier in 2011/12—and what did they do? TABLE 11.3 Who makes getting electricity Feature Economies Some highlights easy—and who does not? Improved process Procedures (number) Canada; Indonesia; In Italy the utility Acea Distribuzione reorganized its efficiency Italy; Liberia; Mexico; departmental workflow, increasing efficiency and reducing Fewest Most Namibia; United the time to complete external connection works. In Liberia Comoros 3 Nigeria 8 Arab Emirates the materials needed for an electricity connection are now readily available in the utility’s stock, reducing the time Germany 3 Senegal 8 to obtain a connection. The purchase of materials was facilitated by increased donor funding. Japan 3 Sierra Leone 8 Streamlined approval Angola; Armenia; In Armenia the Public Services Regulatory Commission Micronesia, 3 Azerbaijan 9 process Georgia; Guinea adopted resolutions giving customers more technical Fed. Sts. options for connecting to electricity. As a result, customers St. Vincent 3 Bangladesh 9 no longer have to wait for a permit from the State Energy and the Inspectorate. The commission also revised its fee structure, Grenadines reducing the costs customers pay for a new connection. Sweden 3 Mozambique 9 Improved regulation Republic of Korea; In Rwanda the installation cost that a customer must pay of connection costs Switzerland 3 Tajikistan 9 Rwanda the Energy, Water and Sanitation Authority for the external and processes connection works was reduced from 30% of the materials Timor-Leste 3 Uzbekistan 9 cost to 15% when the customer provides the materials. Afghanistan 4 Russian 10 Source: Doing Business database. Federation Iceland 4 Ukraine 11 governing the process of connecting new enhancement to its SAP system. The Time (days) customers. In Armenia the new connec- new system allows customers to both Fastest Slowest tion process eliminated 1 procedure while submit and track their application online. Germany 17 Cyprus 247 a revised fee structure reduced the cost of It also streamlines their interactions St. Kitts and 18 Hungary 252 with the utility and with their electrical Nevis new connections. In Georgia the National contractor by offering a single interface. Iceland 22 Nigeria 260 Commission on Energy and Water Austria 23 Czech 279 Implementation of the new system re- Regulation, through a resolution adopted Republic duced the time to get a new connection Taiwan, in November 2011, also introduced a new 24 Russian 281 by 15 days. China Federation process and a revised fee structure. The St. Lucia 25 Ukraine 285 changes reduced the number of proce- Other utilities have reduced connection Korea, Rep. 28 Bangladesh 404 dures by 1, the time by a quarter and the costs and wait times by improving pro- Rwanda 30 Madagascar 450 cost by a fifth (figure 11.1). curement practices. The Liberia Electricity Chile 31 Guinea- 455 Corporation reduced the time to get a Bissau Puerto Rico 32 Liberia 465 In the United Arab Emirates the Dubai new connection by 120 days by ensuring (U.S.) Electricity and Water Authority intro- that the materials needed for the connec- duced a “one window, one step” applica- tion are readily available in its stock. The Cost (% of income per capita) tion for getting electricity as the latest utility of the Namibian city of Windhoek Least Most Japan 0.0 Djibouti 7,776.4 Hong Kong 1.6 Guinea 8,377.7 FIGURE 11.1 Georgia made obtaining an electricity connection faster and cheaper SAR, China Qatar 3.9 Malawi 8,854.9 Time to get electricity (days) Norway 6.5 Madagascar 9,056.7 100 Trinidad and 6.6 Chad 11,017.6 Tobago Cost cut from Time cut 80 $20,209 to $16,068 from 96 days Australia 8.7 Central 12,603.6 to 71 African Republic 60 Panama 13.6 Burkina Faso 12,662.0 Israel 13.8 Benin 14,343.1 40 Uruguay 14.3 Burundi 21,481.7 Procedures cut from 20 5 to 4 Iceland 14.9 Congo, Dem. 27,211.6 Rep. Source: Doing Business database. 0 1 2 3 4 5 Procedures 2011 2012 Source: Doing Business database. 66 DOING BUSINESS 2013 FIGURE 11.2 Sub-Saharan Africa had the most reforms in getting electricity in the past 3 years TABLE 11.4 Who has narrowed the distance Number of Doing Business reforms making it easier to get electricity by Doing Business to frontier in getting electricity report year the most since 2010? Improvement in Sub-Saharan Africa (46 economies) 5 1 5 distance to frontier Eastern Europe & Central Asia Most improved (percentage points) (24 economies) 1 2 2 Vanuatu 19 East Asia & Pacific 3 1 (48Æ67) (24 economies) DB2011 Latin America & Caribbean Gambia, The 17 3 1 DB2012 (33 economies) (46Æ63) OECD high income DB2013 (31 economies) 1 3 Central African Republic 15 Middle East & North Africa (13Æ28) (19 economies) 1 1 Zimbabwe 13 South Asia 1 (40Æ53) (8 economies) 0 4 6 8 10 12 Afghanistan 12 2 (55Æ67) Note: An economy can be considered to have only 1 Doing Business reform per topic and year. The data sample for DB2011 Latvia 12 (2010) includes 176 economies. The sample for DB2013 (2012) includes a total of 185 economies. (61Æ73) Source: Doing Business database. Georgia 12 (72Æ84) Kyrgyz Republic 11 took several steps aimed at reducing con- regulatory reforms making it easier to (33Æ44) nection times and costs. First, the utility get a new electricity connection. Sub- Congo, Rep. 11 created a new template for calculating Saharan Africa accounts for the largest (35Æ46) commodity prices, enabling it to provide number of such reforms, with 11. Eastern Angola 10 (55Æ65) customers with a cost estimate for a new Europe and Central Asia follows (figure Note: The distance to frontier measure shows how far on connection more easily and thus more 11.2). Among the most common and ef- average an economy is from the best performance achieved quickly. Second, the utility selected a fective features of regulatory reforms in by any economy on each Doing Business indicator—in this case for the getting electricity indicators since 2010. The more effective, efficient and experienced this area have been improving process measure is normalized to range between 0 and 100, with civil contractor through an open tender efficiency within the utility, streamlining 100 representing the best performance (the frontier). The data refer to the 176 economies included in the getting process. Together, these 2 measures procedures and approvals with other electricity sample in 2010. Nine economies were added reduced the connection time by 17 days. public agencies, making information on in subsequent years. The first column lists the top 10 most improved economies in order; the second shows the Finally, the utility began acquiring ma- connection fees and costs more read- absolute improvement in the distance to frontier between terials and equipment through an open ily available to customers, regulating the 2010 and 2012. Source: Doing Business database. tender process held every 2 years. This electrical profession to ensure the quality led to more competition and lower prices, reducing the connection cost by 77.8% of income per capita. FIGURE 11.3 In economies where utilities make the connection process cheap and efficient, supply Many economies put an emphasis on is likely to be more reliable making it easier to get a connection to the distribution network as a way to increase Average ranking on ease Average cost to get electricity of getting electricity (% of income per capita) the electrification rate and stimulate 4,998 150 5,000 business growth. Rwanda is an example. 130 Its process for obtaining a connection 120 4,000 is among the fastest in the world (table 94 11.3). The government improved it further 90 3,000 by reducing installation costs. Customers 53 60 2,000 still provide the materials for the connec- 1,190 tion, but rather than paying an additional 30 1,000 571 30% of that cost to the utility for installa- 0 0 tion, they now pay only half that. <1 1–100 >100 <1 1–100 >100 Annual power outages (hours) Annual power outages (hours) WHAT WERE THE TRENDS Note: Data refer to outages per low- or medium-voltage customer in the largest business city. The sample includes 86 IN THE PAST 3 YEARS? economies. South Asia is excluded because of lack of data. Relationships in the first graph are significant at the 5% level after controlling for income per capita. Relationships in the second graph are significant at the 1% level after controlling for income In the past 3 years 30 economies per capita. around the world implemented 31 Source: Doing Business database. GETTING ELECTRICITY 67 of internal wiring and lessening the bur- Analysis of data for 140 economies sug- 3. This analysis, by Geginat and Ramalho den of security deposits. gests that the getting electricity indica- (2010), was done in 2009, when the data sample for the getting electricity tors can serve as a useful proxy for the indicators included only 140 economies. Making it easier to get an electricity con- broader performance of the electricity For 2012 the indicators cover 185 nection pays off. Since 2010 Vanuatu and sector.3 Greater time and cost to get an economies. The Gambia have advanced the furthest electricity connection are associated with 4. The price paid by a customer to get a in narrowing the gap with the regulatory lower electrification rates. Additional new connection is not necessarily a systems of economies with the most ef- connection procedures are more likely to measure of the operational performance ficient practices in connecting new cus- occur in economies where the electricity of the electricity utility but of the existing supply is weak as a result of high losses regulatory framework and the policy to tomers (table 11.4). expand electricity access (partial or total in the transmission and distribution subsidization of the costs incurred to WHAT DO THE INDICATORS systems. New analysis of data for 86 build the connection). Besides efficient SUGGEST ABOUT QUALITY economies suggests that where utilities distribution companies, generation make the connection process cheap capacity and proper transmission OF SUPPLY? and efficient as measured by the getting infrastructure also play a critical part in Studies have shown that poor electricity reducing power outages. electricity indicators, supply is likely to supply adversely affects the productivity be more reliable as measured by the total The analysis was based on data collected of firms and the investments they make in hours of power outages per customer per from distribution utilities and regula- their productive capacity.2 It is therefore year (figure 11.3).4 tors on the total hours of outages per essential for businesses to have reli- customer in the largest business city. able, good-quality electricity supply. But The analysis distinguished connection type by low or medium voltage (based whether electricity supply is reliable or NOTES This topic note was written by Maya on the getting electricity case study) and not, the first step for customers is to get outages for the respective voltage level. Choueiri, Caroline Frontigny, Anastasia a new connection, the process measured Shegay, Jayashree Srinivasan and Susanne The data analysis included the System by the getting electricity indicators. This Szymanski. Average Interruption Duration Index process represents only a small part of 1. The surveys are for various years in (SAIDI), the System Average Interruption 2002–10. The data sample includes 113 Frequency Index (SAIFI) and the electricity services. Yet the indicators of- economies. Customer Average Interruption Duration fer information on a number of issues for Index (CAIDI). Many utilities do not 2. Calderon and Servén 2003; Dollar, which data were previously unavailable, use these measures but provided other Hallward-Driemeier and Mengistae complementing indicators measuring 2006; Reinikka and Svensson 1999; Eifert indices and statistics on power outages. such outcomes as outages. 2007; Iimi 2011. 68 Registering property ƒ As measured by Doing Business, Doing Business records the procedures subdivision or common-interest commu- registering property is easiest in necessary for a business to purchase a nity). Malaysia is now working to bring Georgia. property from another business and to registration times for strata properties, formally transfer the property title to the still in the range of 90–100 days, down to ƒ From June 2011 to June 2012 Doing buyer’s name. The process starts with a similar time frame. Business recorded 17 reforms obtaining the necessary documents, making it easier to register property. such as a copy of the seller’s title, and The OECD high-income group had both ƒ Malaysia made the biggest ends when the buyer is registered as the largest share of economies with a improvement in the ease of the new owner of the property. Every property registration reform and the larg- registering property in the past year. procedure required by law or necessary est number of such reforms in 2011/12, ƒ Angola, Burkina Faso, Côte in practice is included, whether it is the accounting for 6 of the 17 such reforms d’Ivoire, Mauritius, Rwanda and responsibility of the seller or the buyer recorded worldwide (figure 12.1). Poland, Sierra Leone rank among the 10 and even if it must be completed by a with the biggest improvement in the economies making the biggest third party on their behalf. As measured group, increased the efficiency of its land improvements since 2005, giving by Doing Business, formally transferring and mortgage registries through a series Sub-Saharan Africa the largest and registering property is easiest in of coordinated changes. These included representation in this group. Georgia (table 12.1). creating 2 new registration districts in Warsaw, introducing a new caseload ƒ Economies making effective cuts in WHO REFORMED IN management system and digitizing the the procedures to register property REGISTERING PROPERTY records of the registries. Thanks to the have centralized procedures in a single agency. And they use IN 2011/12? changes, the time to process property In 2011/12, 17 economies made it easier applications at the registries fell from 3–6 information and communication technology or better caseload for local businesses to register property management systems to make the by reducing the procedures, time or cost TABLE 12.1 Where is registering property process faster and less costly. required (table 12.2). The most common easiest—and where most difficult? improvements were introducing time For more information on good Easiest RANK Most difficult RANK practices and research related to limits or expedited procedures, increas- Georgia 1 Belgium 176 registering property, visit http:// ing administrative efficiency, streamlining New Zealand 2 Trinidad and 177 www.doingbusiness.org/data/ procedures and computerizing cadastres Tobago exploretopics/registering-property. and registries. Nine other economies Belarus 3 Liberia 178 For more on the methodology, see the made it more difficult to transfer prop- Armenia 4 Bahamas, The 179 section on registering property in the erty by increasing the procedures, time or Lithuania 5 Guinea-Bissau 180 data notes. cost involved. Denmark 6 Eritrea 181 Norway 7 Nigeria 182 Malaysia made the biggest improvement Slovak Republic 8 Marshall 185 in the ease of registering property in the Islands past year by introducing a new caseload Azerbaijan 9 Micronesia, 185 management system at the land registry. Fed. Sts. Inspired by Toyota’s effective supply Iceland 9 Timor-Leste 185 chain management strategy, the registry Note: Rankings are the average of the economy’s rankings on the procedures, time and cost to register reduced registration time from 41 days property. See the data notes for details. Economies shown in 2011 to 7 days in 2012 for nonstrata with the same number are tied in the ranking. Source: Doing Business database. properties (those that are not part of a REGISTERING PROPERTY 69 TABLE 12.2 Who made registering property easier in 2011/12—and what did they do? months in 2011 to as little as 14–60 days Feature Economies Some highlights in 2012. Other OECD high-income econ- Introduced effective Burundi; Israel; Average time saved: 39 days omies improving their property registra- time limits Mauritius; Ukraine Israel introduced a 20-day time limit for tax authorities to process capital gains self-assessments on property tion process were the Czech Republic, transfers, saving about 2 months. Burundi, Mauritius and Ukraine introduced time limits at their land registries and, Denmark, Ireland, Israel and Italy. while full compliance has not yet been achieved, have already cut registration time by 30 days, 7 days and 48 days, respectively. WHAT HAVE WE LEARNED Increased Malaysia; Panama; Average time saved: 38 days FROM 8 YEARS OF DATA? administrative Poland; Sierra Leone; Malaysia implemented a new caseload management system efficiency Trinidad and Tobago in the land office, enabling clerks to process property In the past 8 years Doing Business record- transfer applications 34 days faster. The increase of the number of operating hours of the Public Registry of Panama ed 185 reforms, undertaken in 121 econo- until 11pm has cut 4 days in time. Poland cut 98 days from the time to register property by introducing a new caseload mies, which increased the efficiency of management system for land registries. Sierra Leone increased efficiency at the Ministry of Lands by digitizing procedures for transferring property (see records and hiring more personnel, reducing the time to figure 12.1). Globally, the average time to register property by 19 days. The Water Authority (WASA) of Trinidad and Tobago, reduced the time needed to obtain its transfer property fell by 35 days, from 90 clearance certificate by 35 days, from 42 days to 7 days. to 55, and the average cost by 1.2 per- Computerized Bosnia and Average time saved: 32 days procedures Herzegovina; Cyprus; Bosnia and Herzegovina computerized its commercial registries, centage points, from 7.1% of the property Italy; Mauritius; cutting registration time by 8 days. Cyprus reduced time by 14 Poland days by computerizing its land registry. Mauritius implemented value to 5.9% (figure 12.2). an electronic information management system at the Registrar- General’s Department to allow different branches of the depart- ment to share information, cutting 7 days from the processing TABLE 12.3 Who has narrowed the distance of property transfers. Italy merged all due diligence procedures performed by notaries through a secure portal, Notartel, which to frontier in registering gives notaries access to the databases of the land registry, property the most since 2005? cadastre and commercial registry. Improvement in Reduced taxes or fees Comoros; Ireland Cost reduction: up to 6% of the property value distance to frontier Ireland introduced a single stamp duty rate for transfers of Most improved (percentage points) nonresidential properties and reduced the rate by 4% of Maldives 49 the property value, from 6% to 2%. The Comoros reduced (0Æ49) the transfer tax from 15% of the property value to 9%. Belarus 42 Combined or reduced Czech Republic; Italy Procedures cut: 1 (54Æ96) procedures The Czech Republic cut 1 procedure by giving the cadastral office online access to the database of the commercial reg- Burkina Faso 39 istry. Italy gave notaries online access to all cadastral plans, (23Æ62) eliminating the need to request the plans from the cadastre. Rwanda 38 Put procedures online Denmark Time saved: 6 days (36Æ74) Denmark’s land registry introduced electronic filing of Mauritius 37 property transfers and now accepts property transfer ap- (33Æ70) plications only online, cutting 6 days. Bosnia and Herzegovina 32 Source: Doing Business database. (36Æ68) Côte d’Ivoire 30 FIGURE 12.1 Sub-Saharan Africa leads in number of property registration reforms (22Æ52) Number of Doing Business reforms making it easier to register property by Doing Business Angola 27 report year (27Æ54) Sierra Leone 24 Sub-Saharan Africa 1 10 9 9 6 6 7 4 DB2006 (28Æ52) (46 economies) Eastern Europe & Central Asia DB2007 Slovenia 24a (24 economies) 3 4 3 9 7 1 6 3 DB2008 (47Æ71) OECD high income Note: The distance to frontier measure shows how far (31 economies) 4 3 4 2 7 7 3 6 DB2009 on average an economy is from the best performance Latin America & Caribbean DB2010 achieved by any economy on each Doing Business (33 economies) 3 3 6 2 5 4 2 2 DB2011 indicator since 2005—in this case for the registering East Asia & Pacific property indicators. The measure is normalized to range (24 economies) 1 2 3 3 21 DB2012 between 0 and 100, with 100 representing the best Middle East & North Africa DB2013 performance (the frontier). The data refer to the 174 (19 economies) 2 2 3 2 3 economies included in Doing Business 2006 (2005). South Asia Eleven economies were added in subsequent years. The (8 economies) 2 2 1 2 2 1 first column lists the top 10 most improved economies in 0 10 20 30 40 50 60 order; the second shows the absolute improvement in the distance to frontier between 2005 and 2012. Note: An economy can be considered to have only 1 Doing Business reform per topic and year. The data sample for DB2006 (2005) includes 174 economies. The sample for DB2013 (2012) also includes The Bahamas, Bahrain, Barbados, Brunei a. Burundi and the Solomon Islands also have an Darussalam, Cyprus, Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar, for a total of 185 economies. improvement of 24 percentage points. Source: Doing Business database. Source: Doing Business database. 70 DOING BUSINESS 2013 FIGURE 12.2 Property transfers have become faster in all regions TABLE 12.4 Who makes registering property Average time to register property (days) easy—and who does not? Procedures (number) OECD high income DB2013 DB2006 Fewest Most DB2013 Georgia 1 Algeria 10 Eastern Europe & Central Asia DB2006 Norway 1 Ethiopia 10 DB2013 Portugal Middle East & North Africa 1 Liberia 10 DB2006 Sweden 1 Ukraine 10 DB2013 Latin America & Caribbean Bahrain DB2006 2 Eritrea 11 DB2013 Belarus 2 Greece 11 Sub-Saharan Africa DB2006 New Zealand 2 Uganda 12 DB2013 Oman 2 Nigeria 13 East Asia & Pacific DB2006 Thailand 2 Brazil 14 DB2013 South Asia United Arab 2 Uzbekistan 15 DB2006 Emirates 0 20 40 60 80 100 120 140 Note: To ensure an accurate comparison, the figure shows data for the same sample of 170 practice economies for both Time (days) DB2006 (2005) and DB2013 (2012) and uses the regional classifications that apply in 2012. The economies added to the Fastest Slowest Doing Business sample after 2005 and therefore excluded here are The Bahamas, Bahrain, Barbados, Brunei Darussalam, Cyprus, Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar. DB2006 data are adjusted for any data revisions and Portugal 1 Angola 184 changes in methodology. Georgia 2 Puerto Rico (U.S.) 194 Source: Doing Business database. New Zealand 2 Suriname 197 Thailand 2 Guinea-Bissau 210 Lithuania 3 Bangladesh 245 FIGURE 12.3 Burkina Faso made transferring property faster and easier Norway 3 Afghanistan 250 Time to register property (days) Iceland 4 Togo 295 200 Time cut from 182 days to 59 Kyrgyz Republic 5 Brunei 298 Darussalam 160 Nepal 5 Haiti 301 Cost cut from 20.7% of the Taiwan, China 5 Kiribati 513 property value to 12.6% 120 Cost (% of property value) 80 Least Most Saudi Arabia 0.00 Côte d’Ivoire 13.9 40 Procedures cut from 8 to 4 Belarus 0.03 Guinea 14.2 Kiribati 0.04 Tonga 15.1 0 Slovak Republic 0.05 Maldives 16.1 1 2 3 4 5 6 7 8 Georgia 0.06 Chad 17.9 Procedures New Zealand 0.08 Cameroon 19.1 2004 2012 Kazakhstan 0.08 Senegal 20.2 Source: Doing Business database. Armenia 0.16 Nigeria 20.8 Russian 0.18 Congo, Rep. 21.3 Federation Among regions, Sub-Saharan Africa had economies making the biggest improve- Qatar 0.25 Syrian Arab 27.8 the largest number of property registra- ments in property registration since 2005 Republic tion reforms in the past 8 years. As a (table 12.3). By introducing a one-stop Source: Doing Business database. result, it also cut the cost to register shop for property issues and eliminat- property the most, though the regional ing the need to obtain a consent to the Worldwide, economies making effective average remains the highest. Among the transfer from the municipality, Burkina cuts in the number of procedures have biggest cost cutters was Angola, whose Faso cut the number of procedures from reviewed the efficiency of their property government slashed the property transfer 8 to 4 and the time from 182 days to 59 transfer process, then designed regula- cost from 11.5% of the property value to (figure 12.3). It also reduced the property tory reforms that centralized procedures 3.2% in 2011 by reducing both the trans- transfer tax 2 years in a row—from 15% of in a single agency—such as due diligence, fer tax, or sisa (from 10% to 2%), and the the property value to 10% in 2008, then signing of the contract, payment of taxes stamp duty (from 0.8% to 0.3%). to 8% in 2009. This helped bring down and registration. One is Italy, which cen- Thanks to effective efforts to increase ef- the total cost from 20.7% of the property tralized most procedures at the notary of- ficiency, Burkina Faso ranks among the 10 value in 2004 to 12.6% in 2012. fice by introducing an electronic platform REGISTERING PROPERTY 71 (Notartel). Now notaries can electroni- cally access the databases of all agencies involved in property transfers. Economies making effective reductions in time have reorganized the workflow of their registries, introduced time limits (taking into account the capacity of the institutions involved) or paired the computerization of their registries with the introduction of efficient caseload management systems. Portugal made its land registry one of the world’s most efficient by introducing an effective 1-day time limit for urgent transfers and a 10- day time limit for others (table 12.4). NOTE This topic note was written by Dariga Chukmaitova, Nuria de Oca and Moussa Traoré. 72 Getting credit ƒ Malaysia, South Africa and the United The United Nations Commission on TABLE 13.1 Where is getting credit easiest— Kingdom remain tied at the top of the International Trade Law (UNCITRAL), and where most difficult? ranking on the ease of getting credit. in its Legislative Guide on Secured Easiest RANK Most difficult RANK Transactions, emphasizes the importance Malaysia 1 Congo, Dem. 176 ƒ Between June 2011 and June Rep. the international community places 2012 Doing Business recorded 5 South Africa 1 Iraq 176 reforms strengthening legal rights on secured credit: “All businesses, United 1 Malta 176 of borrowers and lenders and 16 whether engaged in mining, lumbering, Kingdom improving credit information systems. agriculture, manufacturing, distributing, Australia 4 Syrian Arab 176 providing services or retailing, require Republic ƒ Cambodia improved the most in the working capital to operate, to grow and to Georgia 4 Djibouti 180 ease of getting credit in the past year. compete successfully in the marketplace. Hong Kong 4 Eritrea 180 SAR, China ƒ Guatemala is among the 10 It is well established that one of the most Latvia 4 Madagascar 180 economies advancing the furthest effective means of providing working Montenegro 4 São Tomé and 180 toward the frontier in regulatory capital to commercial enterprises is Príncipe practice in the area of getting credit through secured credit.”1 New Zealand 4 Tajikistan 180 since 2005. Of the rest, 5 are in Poland 4 a Palau 185 Eastern Europe and Central Asia. In that spirit Doing Business measures 2 Note: Rankings on the ease of getting credit are based types of institutions and systems that can on the sum of the strength of legal rights index and the ƒ Among regions, Sub-Saharan Africa depth of credit information index. See the data notes for facilitate access to finance and improve details. Economies shown with the same number are tied had the most reforms strengthening in the ranking. its allocation: credit registries or credit legal rights of borrowers and lenders a. The United States is also tied in the ranking at 4. bureaus and the legal rights of borrowers in the past 8 years, while Eastern Source: Doing Business database. and lenders in secured transactions and Europe and Central Asia had the most bankruptcy laws. These institutions and improving credit information systems. systems work best together.2 Information available through credit registries and ƒ Among reforms strengthening legal sharing through credit registries or credit bureaus. rights in the past year, the most bureaus helps creditors assess the common feature was implementing creditworthiness of clients (though it is Rankings on the ease of getting credit collateral registries. Among those not the only risk assessment tool), while are based on the sum of the strength of improving credit information legal rights can facilitate the use of col- legal rights index and the depth of credit systems, the most common was lateral and the ability to enforce claims information index (table 13.1). guaranteeing by law borrowers’ right in the event of default. Creditors’ rights to inspect their own credit data. and insolvency regimes are fundamental WHO REFORMED IN GETTING For more information on good practices to a sound investment climate and can CREDIT IN 2011/12? and research related to getting credit, help promote commerce and economic In 2011/12, 5 economies improved ac- visit http://www.doingbusiness.org/data/ growth.3 cess to credit by reforming their secured exploretopics/getting-credit. For more transactions legislation or strengthening on the methodology, see the section on These 2 types of institutions are mea- the rights of secured creditors during getting credit in the data notes. sured by 2 sets of indicators. One set bankruptcy proceedings (table 13.2). analyzes the legal framework for secured transactions by looking at how well col- Three of the 5 reforming economies lateral and bankruptcy laws facilitate are in Eastern Europe and Central Asia. lending. The other looks at the coverage, Considered one of the success stories of scope and quality of credit information collateral reform in the 1990s, Romania GETTING CREDIT 73 TABLE 13.2 Who strengthened legal rights of borrowers and lenders in 2011/12— TABLE 13.4 Who has the most legal rights and what did they do? for borrowers and lenders— Feature Economies Some highlights and who the least? Expanded range Georgia; Romania In Romania a new civil code repealed the previous legal Strength of legal rights index (0–10) of movable assets framework for secured transactions while maintaining Most Least that can be used as most of its modern principles. The new code introduced collateral the concept of hypothèque, allowing security interests in Australia 10 Eritrea 2 immovable as well as movable property. Hong Kong 10 São Tomé and 2 Created a unified Australia; Sri Lanka In Australia the Personal Property Securities Act 2009 SAR, China Príncipe registry for movable and associated regulations came into effect, and a single, Kyrgyz Republic 10 Timor-Leste 2 property national online registry began operating. The web-based registry allows creditors to conduct searches and register Latvia 10 Yemen, Rep. 2b security interests in personal property at any time.a Malaysia 10 Bolivia 1 Strengthened rights Kazakhstan In Kazakhstan a new law introduced changes to the Montenegro 10 Djibouti 1 of secured creditors regulation of the rehabilitation procedure under bankruptcy during reorganization legislation, specifying several conditions under which New Zealand 10 Palau 1 procedures secured creditors can apply for relief during the procedure. Singapore 10 Syrian Arab 1 a. Accessible at http://www.ppsr.gov.au. Republic Source: Doing Business database. South Africa 10 Venezuela, RB 1 United 10a West Bank and 1 Kingdom Gaza a. Kenya also has a score of 10 on the strength of legal went a step further in harmonizing its se- proceedings. Georgia amended its civil rights index. cured transactions legislation. It adopted code to allow a security interest to extend b. Four other economies also have a score of 2 on the strength of legal rights index: Jordan, Madagascar, a new civil code, entering into force in to the products, proceeds and replace- Tajikistan and Uzbekistan. October 2011, that repealed the previous ments of an asset used as collateral. Source: Doing Business database. legal framework for secured transactions. Inspired in part by the law of the Canadian Sixteen economies improved their Cambodia established its first private province of Quebec, the new code credit reporting system in the past year credit bureau, which began operating introduces the concept of hypothèque (table 13.3); 1 economy made access in March 2012. The bureau collects and to cover security interests in movable to credit information more difficult. distributes both positive and negative and immovable assets. While positive Seven of these economies—Costa Rica, credit information on individuals and overall, this reform also rendered out- Ethiopia, Mongolia, Montenegro, Oman, includes all loans in its database, regard- of-court enforcement procedures more Uzbekistan, and West Bank and Gaza— less of size. In addition, a regulation on formalistic. Kazakhstan introduced new introduced new laws or regulations guar- credit information sharing issued in May grounds for relief from an automatic stay anteeing the right of borrowers to inspect 2011 guarantees the right of borrowers to for secured creditors during rehabilitation their personal data. inspect their own data. The country made the biggest improvement in the ease of TABLE 13.3 Who improved the sharing of credit information in 2011/12—and what did they do? getting credit in 2011/12. Feature Economies Some highlights Guaranteed by law Costa Rica; In West Bank and Gaza a new ordinance gave borrowers Mauritius also improved access to credit borrowers’ right to Ethiopia; Mongolia; the right to inspect their credit data. access data Montenegro; Oman; information in the past year. Its credit Uzbekistan; West Bank and Gaza registry now reports both positive and Improved regulatory El Salvador; New Zealand adopted a legal framework for expanding the negative data and collects payment infor- framework for sharing Hungary; New set of information collected by credit bureaus. mation from retailers. credit information Zealand Provided online Bangladesh; Ethiopia introduced a new online system for sharing credit access to data at Ethiopia; Syrian Arab information. WHAT HAVE WE LEARNED credit registry or Republic bureau FROM 8 YEARS OF DATA? Expanded set of Ethiopia; Mauritius In Mauritius the public credit registry developed a new Several economies have incorporated information collected format for credit reports that includes on-time payments in credit registry or and unpaid installments and also began collecting data good practices in their legal framework bureau from retailers. for secured transactions with the aim of Created a new credit Cambodia; Cambodia’s first private credit bureau started operations, improving access to finance for small and registry or bureau Sierra Leone covering more than 1.1 million individuals. medium-size enterprises. Such reforms Lowered or Algeria Algeria eliminated the minimum threshold for loans eliminated threshold included in the database. are usually reflected in a change in score for loans reported on the strength of legal rights index (table Source: Doing Business database. 13.4). 74 DOING BUSINESS 2013 FIGURE 13.1 Sub-Saharan Africa leads in number of legal rights reforms TABLE 13.5 Who has narrowed the distance Number of Doing Business reforms strengthening legal rights of borrowers and lenders by to frontier in getting credit the Doing Business report year most since 2005? Improvement in Sub-Saharan Africa distance to frontier (46 economies) 1 1 2 1 17a Most improved (percentage points) Eastern Europe & Central Asia DB2006 (24 economies) 3 3 2 1 1 2 1 3 Cambodia 69 East Asia & Pacific DB2007 (0Æ69) (24 economies) 1 3 4 2 2 1 DB2008 Georgia 63 OECD high income 2 3 1 2 1 1 DB2009 (31Æ94) (31 economies) DB2010 Rwanda 56 Latin America & Caribbean (33 economies) 1 1 2 3 (25Æ81) DB2011 South Asia Croatia 44 1 1 1 1 DB2012 (8 economies) (31Æ75) Middle East & North Africa DB2013 (19 economies) 1 Ghana 43 (38Æ81) 0 5 10 15 20 25 Guatemala 38 (50Æ88) Note: An economy can be considered to have only 1 Doing Business reform per topic and year. The data sample for DB2006 (2005) includes 174 economies. The sample for DB2013 (2012) also includes The Bahamas, Bahrain, Barbados, Brunei Kyrgyz Republic 38 Darussalam, Cyprus, Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar, for a total of 185 economies. (50Æ88) a. During the period covered by Doing Business 2012, amendments to the Uniform Act on Secured Transactions strengthened Kazakhstan 37 legal rights in the 16 member economies of the Organization for the Harmonization of Business Law in Africa (OHADA). (19Æ56) Source: Doing Business database. India 31 (50Æ81) Russian Federation 31a One example is Guatemala, which en- example, the new Uniform Act on Secured (19Æ50) hanced its secured transactions regime Transactions adopted by the Organization Note: The distance to frontier measure shows how far by issuing a decree in 2007 that broad- for the Harmonization of Business Law in on average an economy is from the best performance achieved by any economy on each Doing Business ened the range of movable assets that Africa (OHADA) introduced a novel pro- indicator since 2005—in this case for the getting can be used as collateral and created a credit indicators. The measure is normalized to range vision allowing out-of-court enforcement between 0 and 100, with 100 representing the best registry for movable property that began between “professionals.” performance (the frontier). The data refer to the 174 economies included in Doing Business 2006 (2005). operating in January 2009. In addition, Eleven economies were added in subsequent years. The Guatemala strengthened its credit infor- Worldwide, creating a collateral registry first column lists the top 10 most improved economies in was among the most common features order; the second shows the absolute improvement in the mation system in 2009 through a decree distance to frontier between 2005 and 2012. guaranteeing the right of borrowers to in- of legal rights reforms. While there are a. Afghanistan, Mauritius, the Solomon Islands, Uganda spect their own data in any public institu- different types of collateral registries, and Zambia also have an improvement of 31 percentage points. tion. Thanks to these changes, Guatemala notice-based registries are widely con- Source: Doing Business database. ranks among the 10 economies advancing sidered the most effective.4 Since 2005 a the furthest toward the frontier in regula- number of economies have tried to unify tory practice in the area of getting credit the information on collateral under some sort of centralized registry: Australia, 146 economies with a credit reporting since 2005 (table 13.5). Chile, France, Georgia, Ghana, Guatemala, system as recorded by Doing Business Guatemala is far from being the only ex- Honduras, the Marshall Islands, Mexico, (figure 13.3). Eastern Europe and Central ample. In the past 8 years Doing Business the Federated States of Micronesia, Peru, Asia had the largest share of economies recorded 72 reforms strengthening legal Rwanda, the Solomon Islands, Sri Lanka, with improvements: 85% implemented rights of borrowers and lenders in 58 Vanuatu and Vietnam. Some of these at least 1 such reform, for a total of 43. economies. Sub-Saharan Africa and East new registries, accompanied by legal And 14 of the 18 economies with 100% Asia and the Pacific are among the regions reform, have proved to be a real success coverage of borrowers are in the OECD with the most such reforms (figure 13.1). story. One example is Mexico’s registry, high-income group (table 13.6). which began operating in September The data also reflect a difference in 2010. By April 2012 the number of filings The efforts to improve credit report- focus. Governments in East Asia and the had increased by 4 times, and the secured ing should be no surprise: responsible Pacific focused more on aspects relating amounts registered totaled $172 billion.5 finance is much in the news these days. to the creation and publicity of secu- But since the onset of the financial crisis rity interests in movable property (figure The past 8 years also saw 171 in 2008, consumer protection issues 13.2). Those in Sub-Saharan Africa gave regulatory reforms to improve credit have also received attention worldwide. greater emphasis to aspects relating to information systems, implemented in In the past year, for the first time since the enforcement of security interests. For 99 economies—more than half of the 2005, the most common feature of credit GETTING CREDIT 75 information reforms as recorded by Doing In the past 8 years 30 economies adopted TABLE 13.6 Who has the most credit Business was guaranteeing by law borrow- legislation providing borrowers with the information—and who right to access data held on them. Efforts the least? ers’ right to access their data. The main Depth of credit information index (0–6) objective is to balance the ability of in- also focused on expanding the sources of information collected by credit registries Most Least stitutions to exchange credit information Argentina 6 Benin 1 with the protection of individuals’ right to or bureaus: 28 credit information reforms Canada 6 Burkina Faso 1 privacy. were aimed at having these entities Germany 6 Burundi 1 distribute both positive and negative Japan 6 Djibouti 1 Today 104 economies guarantee by law information, collect alternative data from Korea, Rep. 6 Guinea-Bissau 1 consumers’ right to access their credit utilities or retailers or report historical Lithuania 6 Liberia 1 information. In 72 of them the law guar- information (figure 13.4). In 2005 credit Malaysia 6 Mauritania 1 antees this access at no cost.6 Among the registries and credit bureaus in 42 econo- Mexico 6 Niger 1b rest, consumers can obtain a credit report mies around the world included credit in- United 6 Guinea 0 at no cost in 9 economies in practice, formation from sources other than banks. Kingdom at little cost in 7 economies ($2.60 on Today those in 55 economies do so. United States 6a Madagascar 0 average) and at a relatively high cost in 14 The other main focus was expanding the economies ($13.30 on average). In 100 of Borrowers covered by credit registries or bureaus coverage of borrowers, such as by lower- (% of adults) the 146 economies with a credit reporting ing or eliminating the minimum threshold Most Least system the law guarantees the right of for the loans included in a credit bureau or Argentina 100 Bangladesh 0.82 consumers to dispute erroneous data.7 registry’s database. Where these thresh- Australia 100 Haiti 0.70 And in 55 economies regulations require olds are high, retail and small business Canada 100 Sierra Leone 0.68 the bureau or registry to either flag the loans are more likely to be excluded. In Iceland 100 Mauritania 0.53 disputed data or block their distribution.8 2005, 79 economies had a minimum loan Ireland 100 Nepal 0.47 New Zealand 100 Burundi 0.26 Norway 100 Djibouti 0.23 FIGURE 13.2 East Asia and the Pacific made the biggest improvement in laws on the creation of Sweden 100 Madagascar 0.10 security interests in movable property United 100 Ethiopia 0.07 Regional averages in strength of legal rights Kingdom United States 100c Guinea 0.01 Note: The rankings on borrower coverage reflected in OECD high income DB2013 the table include only economies with a credit registry or DB2006 credit bureau (146 in total). Another 39 economies have no credit registry or bureau and therefore no coverage East Asia & Pacific DB2013 (see http://www.doingbusiness.org). See the data notes DB2006 for details. a. Twenty other economies also have a score of 6 on DB2013 the depth of credit information index: Armenia, Austria, Eastern Europe & Central Asia Bolivia, Costa Rica, the Dominican Republic, Ecuador, DB2006 Egypt, El Salvador, Georgia, Guatemala, Honduras, FYR DB2013 Macedonia, Panama, Paraguay, Peru, Poland, Rwanda, South Asia Saudi Arabia, South Africa and Uruguay. DB2006 b. Four other economies also have a score of 1 on the depth of credit information index: Côte d’Ivoire, Mali, Sub-Saharan Africa DB2013 DB2006 Senegal and Togo. c. Eight other economies also have coverage of 100% of the adult population: Croatia, Germany, Israel, Italy, Latin America & Caribbean DB2013 DB2006 Japan, Korea, Serbia and Uruguay. Source: Doing Business database. Middle East & North Africa DB2013 DB2006 0 1 2 3 4 5 6 7 Creation of Registration of Enforcement of security interest (0–5) security interest (0–1) security interest (0–4) Note: To ensure an accurate comparison, the figure shows data for the same sample of 174 economies for both DB2006 (2005) and DB2013 (2012) and uses the regional classifications that apply in 2012. The economies added to the Doing Business sample after 2005 and therefore excluded here are The Bahamas, Bahrain, Barbados, Brunei Darussalam, Cyprus, Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar. DB2006 data are adjusted for any data revisions and changes in methodology. Creation of security interest refers to the first 5 components of the strength of legal rights index. Registration of security interest refers to the component relating to the existence of a collateral registry. Enforcement of security interest refers to the last 4 components. See the data notes for details. Source: Doing Business database. 76 DOING BUSINESS 2013 FIGURE 13.3 Eastern Europe and Central Asia leads in number of credit information reforms threshold below 1% of income per capita Number of Doing Business reforms improving credit information systems by Doing Business (including those in which loans of all sizes report year are reported). Today 123 economies do. Eastern Europe & Central Asia 9 4 4 10 7 3 4 2 DB2006 (24 economies) DB2007 An encouraging trend over the past 8 Sub-Saharan Africa (46 economies) 4 12 8 4 4 6 3 DB2008 years has been the establishment of new Middle East & North Africa 3 2 5 5 3 5 4 4 DB2009 credit bureaus or registries in economies (19 economies) Latin America & Caribbean DB2010 that previously had none—25 in total, (33 economies) 3 7 2 4 1 3 2 DB2011 mainly in Eastern Europe and Central Asia. East Asia & Pacific (24 economies) 2 2 1 2 1 3 3 2 DB2012 Credit information is still hardly shared in OECD high income DB2013 Sub-Saharan Africa, despite the pickup in (31 economies) 5 4 2 212 South Asia efforts to develop credit information sys- (8 economies) 3 1 2 1 2 11 tems starting in 2008. Since then Ghana, 0 15 30 45 Liberia, Rwanda, Sierra Leone, Uganda Note: An economy can be considered to have only 1 Doing Business reform per topic and year. The data sample for DB2006 and Zambia have established new credit (2005) includes 123 economies. The sample for DB2013 (2012) includes a total of 146 economies. Source: Doing Business database. reporting systems. In East Asia and the Pacific 10 of 24 economies still have no credit bureau or registry. But things are improving. Brunei Darussalam, Lao PDR, FIGURE 13.4 Guaranteeing by law borrowers’ right to access data was the biggest focus of credit information reform worldwide in the past 8 years Samoa, the Solomon Islands, Tonga and Regional averages in depth of credit information Vanuatu are all working to get their credit reporting systems operating.9 DB2013 Latin America & Caribbean DB2006 NOTES DB2013 Eastern Europe & Central Asia This topic note was written by Santiago Croci DB2006 Downes, Hayane Chang Dahmen and Joanna DB2013 Nasr. OECD high income DB2006 1. UNCITRAL 2007, p. 1. DB2013 2. Djankov, McLiesh and Shleifer 2007. East Asia & Pacific DB2006 3. World Bank 2011b. DB2013 4. Alvarez de la Campa, Croci Downes and Middle East & North Africa DB2006 Tirelli Hennig 2012. 5. Estimates were provided by the Mexican DB2013 South Asia government. DB2006 6. No data are available for 2 economies. DB2013 7. No data are available for 7 economies. Sub-Saharan Africa DB2006 0 2 4 6 8. No data are available for 13 economies. 9. As of June 1, 2012, the credit bureaus Who is covered (0–2) Type of information (0–3) Consumers’ right (0–1) in Tonga and Vanuatu had loaded the Note: To ensure an accurate comparison, the figure shows data for the same sample of 123 economies for both DB2006 information into their systems but the (2005) and DB2013 (2012) and uses the regional classifications that apply in 2012. DB2006 data are adjusted for any data databases were not yet accessible to revisions and changes in methodology. Who is covered refers to whether both individuals and firms are covered by a bureau banks. or registry and whether loans below 1% of income per capita are included. Type of information refers to the availability of information from retailers or utilities, distribution of positive and negative information and availability of historical data. Consumers’ right refers to whether the law guarantees borrowers’ right to inspect their own data. Source: Doing Business database. 77 Protecting investors Corporations are instruments of en- innovate, diversify and compete. A recent ƒ New Zealand has the strongest trepreneurship and growth. They can study shows that in economies with minority investor protections in also be abused for personal gain. In July stronger investor protections, invest- related-party transactions, for the 2012 authorities in Korea imposed a $30 ment in firms is less sensitive to financial eighth year in a row. million fine on SK Group, the country’s constraints and leads to greater growth in ƒ From June 2011 to June 2012 Doing third-largest conglomerate, for illicit revenue and profitability.2 Another study Business recorded 13 legal changes related-party transactions. The transac- shows that regulating conflicts of interest strengthening the protections of tions were priced significantly above is essential to successfully empowering minority investors. market averages and allegedly allowed minority shareholders.3 the group’s founder to misappropriate ƒ Kosovo made the biggest $87 million. The group’s market capi- New Zealand provides the strongest improvement in the strength of talization declined sharply as a result.1 minority investor protections as mea- investor protections in the past year. Korea’s strong institutions and extensive sured by Doing Business, ranking highest disclosure requirements played an essen- in this area for the eighth year in a row ƒ Tajikistan has advanced the tial part in addressing this situation and (table 14.1). furthest toward the frontier in protecting minority investors. regulatory practice in protecting WHO IMPROVED INVESTOR investors since 2005. Doing Business measures the strength of PROTECTIONS IN 2011/12? ƒ Improving disclosure was the minority shareholder protections against In the past year 13 economies strength- most common feature of investor directors’ misuse of corporate assets for ened investor protections as measured by protection reforms in the past 8 personal gain. The indicators distinguish Doing Business. OECD high-income econ- years. 3 dimensions of investor protections: approval and transparency of related- omies, with 4 legal changes, continue to ƒ Among regions, Eastern Europe party transactions (extent of disclosure and Central Asia has strengthened index), liability of company directors for TABLE 14.1 Where are investors most investor protections the most since self-dealing (extent of director liability protected—and where least? 2005—and is quickly catching index) and shareholders’ ability to obtain Most protected RANK Least protected RANK up with OECD high-income corporate documents before and dur- New Zealand 1 Haiti 176 economies. ing litigation (ease of shareholder suits Singapore 2 Gambia, The 177 For more information on good index). The standard case study assumes Hong Kong 3 Guinea 177 practices and research related to SAR, China a related-party transaction between protecting investors, visit http:// Canada 4 Micronesia, 177 www.doingbusiness.org/data/ Company A (“Buyer”) and Company Fed. Sts. B (“Seller”) where “Mr. James” is the exploretopics/protecting-investors. Malaysia 4 Palau 177 For more on the methodology, see the controlling shareholder of both Buyer and Colombia 6 Djibouti 181 section on protecting investors in the Seller and a member of both their boards Ireland 6 Venezuela, RB 181 data notes. of directors. The transaction is overpriced Israel 6 Suriname 183 and causes damages to Buyer. United States 6 Lao PDR 184 United 10 Afghanistan 185 Protecting minority investors matters for Kingdom companies. Without adequate regula- Note: Rankings are based on the strength of investor protection index. See the data notes for details. tions, equity markets fail to develop and Economies shown with the same number are tied in the banks become the only source of the ranking. Source: Doing Business database. finance that companies need to grow, 78 DOING BUSINESS 2013 FIGURE 14.1 Kosovo’s new Law on Business TABLE 14.2 Who strengthened investor protections in 2011/12—and what did they do? Organizations strengthened Feature Economies Some highlights investor protections Made it easier to sue Armenia; Republic Korea clarified directors’ duties in its commercial code. Now 6 6 directors of Korea; Kosovo; negligent directors can be held liable for damages caused Lesotho; Peru; by prejudicial related-party transactions. Taiwan, China; Tajikistan Increased disclosure Armenia; Greece; Lesotho enacted a new company law that requires requirements Islamic Republic company directors to disclose to the board the full extent 3 3 of Iran; Kosovo; of any conflict of interest they may have relating to a 2 Lesotho; Mongolia; proposed transaction. Taiwan, China Regulated approval Armenia; Kosovo; Kosovo amended its Law on Business Organizations. Now Extent of Extent of Ease of of related-party Netherlands; Peru; only disinterested shareholders can approve related-party disclosure director shareholder transactions Slovenia; Taiwan, transactions. index liability index suits index China (0–10) (0–10) (0–10) Allowed the rescission Kosovo; Moldova Moldova amended its law on joint stock companies. of prejudicial related- Shareholders can now petition the court for a rescission of 2011 2012 party transactions transactions approved despite major conflicts of interest when such transactions cause damages to the company. Source: Doing Business database. Source: Doing Business database. provide the strongest protections. Eastern Continuing a trend in Sub-Saharan Africa Business, 49% improved the extent of Europe and Central Asia, also with 4, re- of upgrading company law, Lesotho disclosure index. But OECD high-income mains the most improved region and the adopted a new one setting out duties economies had a much higher share that most active in making legal changes, with of care, diligence and skill for directors. did so, at 78%, followed by the Middle East 24 recorded in 16 economies since 2005. Breach of these duties constitutes a cause and North Africa with 60% and Eastern of action for shareholders (table 14.2). Europe and Central Asia with 54%. In Sub- Kosovo improved minority shareholder Saharan Africa the priority was increasing protections the most in the past year, WHAT HAVE WE LEARNED director liability. In East Asia and the Pacific through a comprehensive revision of its FROM 8 YEARS OF DATA? and Latin America and the Caribbean the Law on Business Organizations (figure In the past 8 years 68% of economies in approach was more balanced. 14.1). The amended law requires share- Eastern Europe and Central Asia imple- holder approval of related-party transac- mented at least 1 reform strengthening While many economies have strength- tions and mandates greater disclosure investor protections (figure 14.2). Among ened investor protections, Tajikistan, both by directors to their board and by OECD high-income economies 48% did, Albania and Rwanda have made the companies in their annual reports. In ad- and in East Asia and the Pacific and the biggest improvements since 2005 (table dition, the law allows shareholders to pe- Middle East and North Africa 33% did. 14.3). Two of them did so through one tition a judge for rescission of a prejudicial Of all these reforms captured by Doing major overhaul of their company law, related-party transaction and clarifies the liability of directors. If found liable, direc- FIGURE 14.2 Eastern Europe and Central Asia still leading in number of investor protection reforms tors must now pay damages and disgorge Number of Doing Business reforms strengthening investor protections by Doing Business any profit made from the transaction. report year Eastern Europe & Central Asia DB2006 Economies in other regions were active (24 economies) 1 1 2 5 3 3 5 4 as well. In Greece the Hellenic Capital OECD high income DB2007 (31 economies) 5 6 4 2 1 1 4 DB2008 Market Commission issued a circular East Asia & Pacific (24 economies) 5 2 2 1 3 2 2 DB2009 clarifying the concept of material transac- Latin America & Caribbean DB2010 tions for purposes of disclosure by listed (33 economies) 2 3 1 2 1 2 1 DB2011 companies—helping to instill more trans- Middle East & North Africa (19 economies) 1 3 3 1 1 1 DB2012 parency in an economy looking to restore Sub-Saharan Africa DB2013 (46 economies) 1 1 1 3 1 1 1 confidence in its market. South Asia (8 economies) 1 1 1 Peru now requires that the terms of 0 5 10 15 20 25 transactions between interested parties be Note: An economy can be considered to have only 1 Doing Business reform per topic and year. The data sample for DB2006 (2005) includes 174 economies. The sample for DB2013 (2012) also includes The Bahamas, Bahrain, Barbados, Brunei reviewed by an independent external audi- Darussalam, Cyprus, Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar, for a total of 185 economies. tor certified by the securities commission. Source: Doing Business database. PROTECTING INVESTORS 79 FIGURE 14.3 Strongest investor protections in OECD high-income economies TABLE 14.3 Who has narrowed the distance Regional averages in protecting investors to frontier in protecting investors the most since 2005? OECD high income DB2013 Improvement in DB2006 distance to frontier Most improved (percentage points) DB2013 Eastern Europe & Central Asia Tajikistan 52 DB2006 (17Æ69) DB2013 Albania 48 East Asia & Pacific DB2006 (29Æ77 ) Rwanda 38 DB2013 South Asia DB2006 (29Æ67) Georgia 31 DB2013 ( 41Æ72) Latin America & Caribbean DB2006 Burundi 29 (34Æ62) DB2013 Middle East & North Africa Tunisia 28 DB2006 (35Æ63) DB2013 Colombia 26 Sub-Saharan Africa DB2006 (44Æ69) 0 10 20 Azerbaijan 25 (57Æ82) Extent of Extent of director Ease of shareholder disclosure index (0–10) liability index (0–10) suits index (0–10) Kazakhstan 25 (57Æ82) Note: To ensure an accurate comparison, the figure shows data for the same sample of 174 economies for both DB2006 Mexico 25a (2005) and DB2013 (2012) and uses the regional classifications that apply in 2012. The economies added to the Doing (37Æ63) Business sample after 2005 and therefore excluded here are The Bahamas, Bahrain, Barbados, Brunei Darussalam, Cyprus, Note: The distance to frontier measure shows how far Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar. DB2006 data are adjusted for any data revisions and changes on average an economy is from the best performance in methodology. achieved by any economy on each Doing Business Source: Doing Business database. indicator since 2005—in this case for the protecting investors indicators. The measure is normalized to range between 0 and 100, with 100 representing the best Albania in 2008 and Rwanda in 2009. directors’ duties (as in Taiwan, China, performance (the frontier). The data refer to the 174 economies included in Doing Business 2006 (2005). Tajikistan achieved similar results by and in Thailand). Eleven economies were added in subsequent years. The amending its law incrementally—in first column lists the top 10 most improved economies in order; the second shows the absolute improvement in the 2007, in 2009 (twice) and in 2011. Investor protection reforms have distance to frontier between 2005 and 2012. been sparse in Latin America and the a. Swaziland also has an improvement of 25 percentage points. OECD high-income economies may have Caribbean, with Chile, Colombia and Source: Doing Business database. the strongest investor protections as Mexico among the few economies measured by Doing Business, but Eastern implementing them. In the Middle Europe and Central Asia is quickly catch- East and North Africa, despite some of the total. But in the past year, for the ing up, having passed East Asia and the improvements (as in Morocco and first time, the most common feature was Pacific in 2007 (figure 14.3). Policy makers Saudi Arabia), protections are often increasing director liability (accounting for in the region have emphasized stricter dis- weak because of limited access to 8 of the 13 reforms). closure requirements and better standards corporate information during litigation. for company directors. South Asia has been the least active Overall, smart, comprehensive regulations in strengthening investor protections. have had the strongest lasting impact Sub-Saharan Africa has had some of the Over the past 8 years Doing Business (table 14.4). Economies undertaking a most comprehensive investor protection recorded 3 investor protection reforms complete overhaul of their corporate, reforms. Besides Lesotho, such econo- among the region’s 8 economies—in securities and civil procedure laws— mies as Burundi and Rwanda have also India, Pakistan and Sri Lanka. including Albania, Burundi, Kosovo, updated their company laws following Mexico, Rwanda, Swaziland, Tajikistan global good practices. East Asia and the Improving disclosure was the most com- and Thailand—have improved the most Pacific has focused mostly on strength- mon feature of investor protection reforms on the strength of investor protections as ening disclosure requirements and in the past 8 years, accounting for 46 measured by Doing Business. 80 DOING BUSINESS 2013 TABLE 14.4 Who provides strong minority NOTES investor protections—and who This topic note was written by Hervé does not? Kaddoura and Jean Michel Lobet. Extent of disclosure index (0–10) 1. Sangim Han and Seyoon Kim, “SK Group Most Least Units Fall After Chairman Questioned by Bulgaria 10 Afghanistan 1 Prosecutors,” Bloomberg News, December China 10 Bolivia 1 18, 2011. France 10 Cape Verde 1 2. Mclean, Zhang and Zhao 2012. Hong Kong 10 Croatia 1 3. Hamdani and Yafeh 2012. SAR, China Indonesia 10 Honduras 0 Ireland 10 Maldives 0 Malaysia 10 Micronesia, 0 Fed. Sts. New Zealand 10 Palau 0 Singapore 10 Sudan 0 Thailand 10a Switzerland 0 Extent of director liability index (0–10) Most Least Albania 9 Afghanistan 1 Cambodia 9 Barbados 1 Canada 9 Belarus 1 Israel 9 Benin 1 Malaysia 9 Bulgaria 1 New Zealand 9 El Salvador 0 Rwanda 9 Marshall 0 Islands Singapore 9 Micronesia, 0 Fed. Sts. Slovenia 9 Palau 0 United States 9b Suriname 0 Ease of shareholder suits index (0–10) Easiest Most difficult Kenya 10 Lao PDR 2 New Zealand 10 Senegal 2 Colombia 9 Syrian Arab 2 Republic Hong Kong 9 United Arab 2 SAR, China Emirates Ireland 9 Venezuela, RB 2 Israel 9 Yemen, Rep. 2 Panama 9 Afghanistan 1 Poland 9 Guinea 1 Singapore 9 Djibouti 0 United States 9c Iran, Islamic 0 Rep. a. The United Kingdom also has a score of 10 points on the extent of disclosure index. b. Trinidad and Tobago also has a score of 9 points on the extent of director liability index. c. Canada, Kazakhstan, Mauritius, Mozambique and Nepal also have a score of 9 points on the ease of shareholder suits index. Source: Doing Business database. 81 Paying taxes Jean-Baptiste Colbert, French philoso- WHO REFORMED IN PAYING ƒ Firms in the United Arab Emirates pher and minister of finance to King Louis TAXES IN 2011/12? face the lightest administrative XIV, once remarked that “the art of taxa- From June 2011 to June 2012 Doing burden in paying taxes. They must tion consists in so plucking the goose as Business recorded 31 reforms making make only 4 payments a year and to obtain the largest possible amount it easier or less costly for firms to pay spend 12 hours doing so. of feathers with the smallest possible taxes (table 15.2). Sixteen economies ƒ From June 2011 to June 2012 Doing amount of hissing.” How taxes are col- mandated or enhanced electronic filing, Business recorded 31 reforms lected and paid has changed a great deal eliminating the need for 196 separate making it easier and less costly for since then. But governments still face the tax payments and reducing compli- companies to comply with taxes. challenge of maximizing revenue collec- ance time by 134 days (1,070 hours) tion while minimizing distortions. ƒ Liberia made the biggest in total. In Uruguay small and medium- improvement in the ease of paying size companies can now file and pay Doing Business records the taxes and taxes in the past year. corporate income tax, value added tax mandatory contributions that a medium- and capital tax online. This option was ƒ Belarus has advanced the most size company must pay in a given year available only for large taxpayers until toward the frontier in regulatory and also measures the administrative 2011. Seven other economies imple- practice in paying taxes since 2004. burden of paying taxes and contributions. mented electronic filing for the first ƒ The most common feature of tax It does this with 3 indicators: number of time, raising the number offering this reforms in the past 8 years was to payments, time and total tax rate for the option from 67 in 2010 to 74 in 2011.3 reduce profit tax rates, often in the Doing Business case study firm. The num- Thanks to improvements in electronic context of parallel efforts to improve ber of payments indicates the frequency systems for filing and paying social tax compliance. But in the past 2 with which the company has to file and security contributions, Saudi Arabia years more economies focused on pay different types of taxes and contribu- tions, adjusted for the way in which those introducing electronic systems. filings and payments are made.1 The time TABLE 15.1 Where is paying taxes easiest— ƒ Among regions, Eastern Europe indicator captures the number of hours it and where most difficult? and Central Asia had the biggest takes to prepare, file and pay 3 major types Easiest RANK Most difficult RANK improvement in the ease of paying of taxes: profit taxes, consumption taxes, United Arab 1 Cameroon 176 taxes in the past 8 years. Emirates and labor taxes and mandatory contribu- Qatar 2 Mauritania 177 For more information on good tions. The total tax rate measures the tax Saudi Arabia 3 Senegal 178 practices and research related cost (as a percentage of profit) borne by to paying taxes, visit http:// Hong Kong 4 Gambia, The 179 the standard firm. The indicators do not www.doingbusiness.org/data/ SAR, China measure the fiscal health of economies, Singapore exploretopics/paying-taxes. For more 5 Bolivia 180 the macroeconomic conditions under on the methodology, see the section on Ireland 6 Central African 181 which governments collect revenue or Republic paying taxes in the data notes. the provision of public services supported Bahrain 7 Congo, Rep. 182 by taxation. The ranking on the ease of Canada 8 Guinea 183 paying taxes is the simple average of the Kiribati 9 Chad 184 percentile rankings on its component Oman 10 Venezuela, RB 185 indicators, with a threshold applied to the Note: Rankings are the average of the economy’s total tax rate (table 15.1).2 rankings on the number of payments, time and total tax rate, with a threshold imposed on the total tax rate. See the data notes for details. Source: Doing Business database. 82 DOING BUSINESS 2013 TABLE 15.2 Who made paying taxes easier and lowered the tax burden in 2011/12— TABLE 15.3 Who makes paying taxes easy and what did they do? and who does not—and where Feature Economies Some highlights is the total tax rate highest? Introduced or enhanced Albania; Belarus; Bosnia and Ukraine introduced an online filing Payments (number per year) electronic systems Herzegovina; Costa Rica; Czech and payment system and made its use Fewest Most Republic; Georgia; Germany; Kenya; mandatory for medium-size and large Panama; Russian Federation; Saudi enterprises. Hong Kong 3 Antigua and 57 Arabia; Slovak Republic; Slovenia; SAR, China Barbuda Ukraine; United Arab Emirates; Saudi Arabia 3 Guinea 58 Uruguay Norway 4 Senegal 59 Reduced profit tax rate Belarus; Brunei Darussalam; Fiji; The United Kingdom reduced 2 by 2 percentage points Japan; Republic of Korea; Lao PDR; corporate income tax rates: the main Qatar 4 Panama 60 or more Liberia; Mali; Puerto Rico (U.S.); rate from 28% to 26% and the small- Sweden 4 Congo, Rep. 61 Slovenia; Thailand; United Kingdom company rate from 21% to 20%. United Arab 4 Sri Lanka 61 Merged or eliminated Albania; Hungary; Liberia Liberia abolished the turnover tax. Emirates taxes other than profit tax Georgia 5 Côte d’Ivoire 62 Simplified tax compliance Jamaica; Mali; Panama; Poland Jamaica introduced joint filing and process payment of all 5 types of social security Singapore 5 Serbia 66 contributions that firms must make. Chile 6 Tajikistan 69 Reduced labor taxes and Croatia Croatia made paying taxes less costly by Malta 6 Venezuela, RB 71 mandatory contributions reducing health insurance contributions. Introduced change in Swaziland Swaziland introduced value added tax cascading sales tax Time (hours per year) to replace its cascading sales tax. Source: Doing Business database. Fastest Slowest United Arab 12 Cameroon 654 Emirates Bahrain 36 Ecuador 654 this year ranks among the 10 economies Eleven economies introduced new Qatar 48 Senegal 666 with the fewest payments and lowest taxes (Cambodia, Costa Rica, Cyprus, Bahamas, The 58 Mauritania 696 tax compliance time (table 15.3). El Salvador, Ethiopia, Japan, Malawi, Luxembourg 59 Chad 732 Maldives, Mali, Nigeria and República Electronic systems for filing and paying Oman 62 Venezuela, RB 792 Bolivariana de Venezuela). Others taxes eliminate excessive paperwork Switzerland 63 Vietnam 872 increased profit or income tax rates and interaction with tax officers. They Saudi Arabia 72 Nigeria 956 (Botswana, the Dominican Republic and can reduce the time businesses spend Seychelles 76 Bolivia 1,025 Moldova)5 or social security contribu- on complying with tax laws, increase tax Hong Kong 78 Brazil 2,600 tions (Hungary and Poland). SAR, China compliance and reduce the cost of rev- enue administration.4 But achieving these Total tax rate (% of profit) WHAT HAVE WE LEARNED results requires effective implementation Highest FROM 8 YEARS OF DATA? and high-quality security systems. Colombia 74.8 Since 2005 Doing Business has recorded Palau 75.7 Twelve economies reduced profit 296 tax reforms in 142 economies Bolivia 83.4 tax rates in 2011/12: 6 high-income (figure 15.1). Some of these reforms Tajikistan 84.5 economies (Brunei Darussalam, Japan, introduced online filing, added in 29 Eritrea 84.5 Korea, Puerto Rico [territory of the economies in the past 8 years. These Uzbekistan 98.5 United States], Slovenia and the United and other improvements to simplify tax Argentina 108.3a Kingdom), 4 middle-income ones compliance reduced the time required to Comoros 217.9a (Belarus, Fiji, Lao PDR and Thailand) and comply with the 3 major taxes measured Gambia, The 283.5a 2 low-income ones (Liberia and Mali). (profit, labor and consumption taxes) by Congo, Dem. Rep. 339.7a Reductions in profit tax rates are often 54 hours on average, and the number Note: The indicator on payments is adjusted for the combined with efforts to widen the tax of payments by 7. Eastern Europe and possibility of electronic or joint filing and payment when used by the majority of firms in an economy. See the data base by removing exemptions and with Central Asia had the biggest improve- notes for more details. increases in the rates of other taxes, ment, with the time reduced by 181 a. As a result of assumptions about the profit margin used to standardize the financial statements of the case study such as value added tax (VAT). Liberia hours and the number of payments by company, in 4 economies the amount of taxes due would improved the most in the ease of paying 24 (figure 15.2). Upper-middle-income exceed the profit of the company. To be able to comply with its tax obligations in these economies, the company taxes. It reduced the corporate income economies have advanced the most to- would therefore have to charge more for its products and tax rate from 35% to 25% and abolished ward the frontier in regulatory practice in generate a higher profit. The methodology does not allow for price adjustments and assumes a standard cost markup the turnover tax. The total tax rate fell paying taxes, followed by lower-middle- of 120%. See the data notes for more details. from 43.7% of profit to 27.4%. income economies (figure 15.3). Source: Doing Business database. PAYING TAXES 83 FIGURE 15.1 Tax reforms implemented by more than 75% of economies in the past 8 years FIGURE 15.3 Middle-income economies have advanced the most toward the Number of Doing Business reforms making it easier to pay taxes by Doing Business report year frontier in paying taxes Average distance to frontier (percentage points) Eastern Europe & Central Asia DB2006 (24 economies) 8 11 10 9 9 11 7 7 100 OECD high income DB2007 (31 economies) 9 7 6 8 9 7 7 9 DB2008 Sub-Saharan Africa 80 (46 economies) 3 8 8 6 11 11 7 4 DB2009 Latin America & Caribbean DB2010 (33 economies) 4 5 5 8 6 2 7 5 60 DB2011 East Asia & Pacific (24 economies) 3 5 9 8 4 DB2012 Middle East & North Africa DB2013 40 (19 economies) 1 4 3 2 6 232 South Asia (8 economies) 4 2112 20 0 10 20 30 40 50 60 70 80 Note: An economy can be considered to have only 1 Doing Business reform per topic and year. The data sample for DB2006 0 (2004) includes 174 economies. The sample for DB2013 (2011) also includes The Bahamas, Bahrain, Barbados, Brunei Low Lower Upper High Darussalam, Cyprus, Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar, for a total of 185 economies. income middle middle income income income Source: Doing Business database. 2011 2004 Besides lessening the administrative which replaced the cascading sales tax.6 burden of taxes, many economies also re- Burundi, Djibouti, Mozambique, Sierra Note: The distance to frontier measure shows how far on duced tax rates, often from relatively high Leone and Swaziland all introduced VAT average an economy is from the best performance achieved by any economy on each Doing Business indicator—in levels and with complementary efforts systems. In Sierra Leone tax revenue re- this case for the paying taxes indicators since 2004. The to improve tax compliance. Sub-Saharan mained relatively stable as a percentage measure is normalized to range between 0 and 100, with 100 representing the best performance (the frontier). The Africa had the largest reduction in the of GDP, rising only from 10.8% in 2005 data refer to the 174 economies included in Doing Business 2006 (2004). Eleven economies were added in subsequent total tax rate, 13.3 percentage points on to 11% in 2009. But the share of revenue years. The figure shows data for the financial years 2004 average since 2005. Some of this reduc- coming from taxes on goods and services (measured by the paying taxes indicators in Doing Business 2006) and 2011 (measured in Doing Business 2013). tion came from the introduction of VAT, increased from 11.9% to 24.6%.7 Source: Doing Business database. FIGURE 15.2 Tax compliance simplified the most in Eastern Europe and Central Asia Many African economies also reduced Average payments (number per year) profit tax rates in the past 8 years, reduc- ing the share of profit taxes in the total tax OECD high income DB2013 rate by 0.9 percentage point on average DB2006 in the region. But the biggest reduction in this share occurred in OECD high-income Middle East & North Africa DB2013 DB2006 economies, where it fell by 4.1 percent- age points on average. Over the same East Asia & Pacific DB2013 DB2006 period tax revenue increased slightly as a percentage of GDP in Sub-Saharan Africa Eastern Europe & Central Asia DB2013 DB2006 and remained relatively stable in OECD high-income economies.8 South Asia DB2013 DB2006 Such reforms have had positive effects. Latin America & Caribbean DB2013 Matching the data available since 2005 DB2006 on total tax rates with investment data Sub-Saharan Africa DB2013 indicates that a reduction of 1 percent- DB2006 20 age point in the total tax rate is linked to 0 10 30 40 50 60 an increase in investment equivalent to Profit taxes Labor taxes Other taxes 1% of GDP.9 Note: To ensure an accurate comparison, the figure shows data for the same sample of 174 economies for both DB2006 (2004) and DB2013 (2011) and uses the regional classifications that apply in 2012. The economies added to the Doing Belarus has advanced the furthest to- Business sample after 2004 and therefore excluded here are The Bahamas, Bahrain, Barbados, Brunei Darussalam, Cyprus, ward the frontier in regulatory practice Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar. DB2006 data are adjusted for any data revisions and changes in methodology. in paying taxes since 2004 (table 15.4). Source: Doing Business database. Embarking on an ambitious tax reform in 84 DOING BUSINESS 2013 TABLE 15.4 Who has narrowed the distance FIGURE 15.4 Broad tax reform in Belarus reduces payments, time and total tax rate to frontier in paying taxes the Payments (number per year) most since 2004? Total tax rate (% of profit) Time (hours) Improvement in 150 1,000 distance to frontier Most improved (percentage points) Belarus 61 (0Æ61) 120 800 Colombia 47 (13Æ60) 90 600 Georgia 47 (39Æ86) China 42 60 400 (19Æ61) Azerbaijan 37 (38Æ75) 30 200 Ukraine 31 (16Æ47) Argentina 30 0 0 (14Æ44) 2004 2005 2006 2007 2008 2009 2010 2011 Sierra Leone 30 Payments Total tax rate Time (34Æ64) Uruguay 30 Source: Doing Business database. (31Æ61) Yemen, Rep. 30 (33Æ63) systems to lessen the administrative NOTES burden for taxpayers. These efforts Note: The distance to frontier measure shows how far This topic note was written by Nan Jiang, on average an economy is from the best performance simplified requirements for firms, reduc- achieved by any economy on each Doing Business Pawel Kopko, Nina Paustian, Momodou ing the number of annual tax payments indicator—in this case for the paying taxes indicators Salifu Sey and Tea Trumbic. recorded by Doing Business from 27 in since 2004. The measure is normalized to range 1. Companies sometimes prefer more 2007 to 6 in 2011 and the time to comply between 0 and 100, with 100 representing the best performance (the frontier). The data refer to the 174 frequent payments, to smooth cash flow, with major taxes from 549 hours to 337. economies included in Doing Business 2006 (2004). and less frequent filing. 5. At the same time Moldova reduced the Eleven economies were added in subsequent years. The first column lists the top 10 most improved economies 2. The threshold is set at the 15th percentile withholding tax for dividends from 15% in order; the second shows the absolute improvement of the total tax rate distribution, and this to 6% and lowered the withholding tax in the distance to frontier between financial years 2004 year is 25.7%. All economies with a total for payments other than dividends from and 2011. tax rate below this level receive the same 15% to 12%. In addition, it introduced a Source: Doing Business database. percentile ranking on this component. The new tax regime for small and medium- threshold is not based on any economic size enterprises under which small 2005, Belarus abolished several taxes, theory of an “optimal tax rate” that mini- companies pay a single tax of 3% of mizes distortions or maximizes efficiency revenues from operational activities. reduced tax rates, broadened the tax in the tax system of an economy overall. 6. VAT is collected by the firm and its base, simplified filing forms and the tax Instead, it is mainly empirical in nature, set cost is fully passed on to the consumer. law and invested in electronic systems at the lower end of the distribution of tax Because the firm has to make the pay- that make it easier to file and pay taxes. rates levied on medium-size enterprises ments and spend time filling out the in the manufacturing sector as observed returns, VAT is included in the indicators These changes reduced the number of through the paying taxes indicators. This on payments and time. But the amount annual payments from 125 to 10, the reduces the bias in the indicators toward of VAT paid is not included in the total time from 987 hours a year to 338 and economies that do not need to levy sig- tax rate. Cascading sales tax, which is the total tax rate from 137.5% of profit to nificant taxes on companies like the Doing paid at every point of the supply chain, Business standardized case study company is included in the total tax rate, because 60.7% (figure 15.4). The efforts to make because they raise public revenue in the firm cannot deduct the sales tax it tax compliance easier and less costly other ways—for example, through taxes pays on its supplies from the amount it are paying off. While 1,681 new limited on foreign companies, through taxes on owes on its sales. Economies introducing liability corporations registered for the sectors other than manufacturing or from VAT regimes to replace the sales tax natural resources (all of which are outside regime have therefore seen a reduction first time in 2005 in Belarus, 6,142 did the scope of the methodology). in their total tax rate. so in 2011. Indeed, the total number 3. One of the economies added to the 7. World Bank, World Development registered in this period increased by sample in this year’s report, Malta, has Indicators database, http://data 68.9% (from 27,619 to 46,653).10 offered electronic filing for several years .worldbank.org/. and so is included in the count for 2010. 8. World Bank, World Development 4. Mexico, for example, has relied heavily Indicators database, http://data on technology and the use of electronic .worldbank.org/. PAYING TAXES 85 9. Following Eifert (2009) and Djankov, McLiesh and Ramalho (2006), the analysis controls for government consumption, institutional quality and corruption perception. It also controls for total trade openness and rents from natural resources. 10. World Bank Group Entrepreneurship Snapshots. The full data set is available on the Doing Business website (http:// www.doingbusiness.org). 86 Trading across borders ƒ Trading across borders remains “Inefficiencies in processing and clearing TABLE 16.1 Where is trading across borders easiest in Singapore. goods put traders in developing countries easiest—and where most at a competitive disadvantage,” declared difficult? ƒ From June 2011 to June 2012 Doing Easiest RANK Most difficult RANK the heads of the World Bank and regional Business recorded 22 reforms Singapore development banks in a statement urg- 1 Niger 176 making it easier to trade across Hong Kong ing the international community to 2 Burundi 177 borders. SAR, China commit to a new WTO trade facilitation Korea, Rep. ƒ South Africa made the biggest 3 Afghanistan 178 agreement. “Developing countries stand Denmark improvement in the ease of trading 4 Iraq 179 to gain the most from improving trade United Arab across borders in the past year. 5 Chad 180 facilitation. The right support will help Emirates ƒ Georgia has made the greatest traders in poorer countries compete and Finland 6 Congo, Rep. 181 progress toward the frontier in integrate into global supply chains.”1 Estonia 7 Central African 182 Republic regulatory practice in trading To shed light on the bureaucratic and Sweden 8 Kazakhstan 182 across borders since 2005. Among logistical hurdles facing traders, Doing Panama 9 Tajikistan 184 the 10 economies making the most Business measures the time and cost Israel 10 Uzbekistan 185 progress, 4 are in Sub-Saharan (excluding tariffs) associated with ex- Note: Rankings are the average of the economy’s Africa. rankings on the documents, time and cost required porting and importing by sea transport to export and import. See the data notes for details. ƒ The most common feature of Economies shown with the same number are tied in the and the number of documents necessary trade facilitation reforms in the ranking. to complete the transaction.2 The indica- Source: Doing Business database. past 8 years was the introduction tors cover documentation requirements or improvement of electronic and procedures at customs and other submission and processing. WHO REFORMED IN TRADING regulatory agencies as well as at the port. ƒ Economies in Latin America and They also cover logistical aspects, includ- ACROSS BORDERS IN 2011/12? the Caribbean have made the ing the time and cost of inland transport In 2011/12 South Africa improved the biggest reductions in the time to between the largest business city and the most in the ease of trading across trade across borders since 2005. main port used by traders. As measured borders as measured by Doing Business. Those in the Middle East and North by Doing Business, trading across borders Through its customs modernization Africa have made the biggest remains easiest in Singapore (tables 16.1 program it implemented measures that reductions in the documents and 16.2). reduced the time, cost and documents required to export and import. required for international trade (figure For more information on good Outdated and inefficient border proce- 16.1). Improvements in South Africa have practices and research related dures, inadequate infrastructure and lack effects throughout southern Africa. Since to trading across borders, visit of reliable logistics services often mean overseas goods to and from Botswana, http://www.doingbusiness.org/data/ high transactions costs and long delays, Lesotho, Swaziland and Zimbabwe tran- exploretopics/trading-across-borders. particularly for landlocked economies.3 sit through South Africa, traders in these For more on the methodology, see the The more costly and time consuming it economies are also enjoying the benefits. section on trading across borders is to export or import, the more difficult in the data notes. it is for local companies to be competi- South Africa was not alone. Doing tive and to reach international markets. Business recorded reforms making it Indeed, a study in Sub-Saharan Africa easier to trade across borders in 21 other shows that reducing inland travel time by economies in the past year, for a total of 1 day increases exports by 7%.4 22 (table 16.3). Latin America and the TRADING ACROSS BORDERS 87 TABLE 16.2 Who makes exporting easy— Who makes importing easy— FIGURE 16.1 Modernizing customs made and who does not? and who does not? importing faster in South Africa Documents (number) Documents (number) Time to import (days) Fewest Most Fewest Most France 2 Afghanistan 10 France 2 Chad 11 32 Canada 3 Burkina Faso 10 Denmark 3 Niger 11 3 Estonia 3 Côte d’Ivoire 10 Korea, Rep. 3 Russian 11 4 Federation 23 Japan 3 Iraq 10 Panama 3 Tajikistan 11 3 Korea, Rep. 3 Angola 11 Sweden 3 Bhutan 12 11 2 Panama 3 Cameroon 11 Hong Kong 4 Cameroon 12 SAR, China Sweden 3 Congo, Rep. 11 Israel 4 Eritrea 12 11 Finland 4 Nepal 11 Netherlands 4 Kazakhstan 12 Hong Kong 4 Tajikistan 11 Singapore 4 Uzbekistan 14 14 SAR, China 7 Singapore 4 Uzbekistan 13 United 4 Central African 17 Kingdom Republic 2011 2012 Time (days) Time (days) Inland transport Port and terminal Fastest Slowest Fastest Slowest Customs clearance handling and technical Document Denmark 5 Zimbabwe 53 Singapore 4 Niger 64 control preparation Estonia 5 Central African 54 Cyprus 5 Kazakhstan 69 Republic Source: Doing Business database. Hong Kong 5 Niger 59 Denmark 5 Venezuela, RB 71 SAR, China Singapore 5 Kyrgyz Republic 63 Estonia 5 Tajikistan 72 Caribbean and Sub-Saharan Africa had Netherlands 6 Tajikistan 71 Hong Kong 5 Zimbabwe 73 the most, with 6 each, followed by OECD SAR, China high-income economies (5) and Eastern United States 6 Afghanistan 74 United States 5 Kyrgyz Republic 75 Europe and Central Asia (2). One reform Germany 7 Chad 75 Netherlands 6 Afghanistan 77 each was also recorded in East Asia and Luxembourg 7 Iraq 80 Sweden 6 Iraq 82 the Pacific, the Middle East and North Norway 7 Uzbekistan 80 United 6 Uzbekistan 99 Africa and South Asia. Six economies Kingdom made trading across borders more dif- United 7 Kazakhstan 81 Luxembourg 7 Chad 101 Kingdom ficult as measured by Doing Business—4 in Latin America and the Caribbean and 2 Cost (US$ per container) Cost (US$ per container) in Sub-Saharan Africa. Least Most Least Most Malaysia 435 Afghanistan 3,545 Malaysia 420 Kazakhstan 4,665 Automation has continued to play an im- Singapore 456 Iraq 3,550 Singapore 439 Kyrgyz Republic 4,700 portant part in facilitating the processing Finland 540 Niger 3,676 Hong Kong 565 Uzbekistan 4,750 and clearance of goods in many econo- SAR, China mies. In the past year 6 economies—Belize, Hong Kong 575 Congo, Rep. 3,818 Israel 565 Rwanda 4,990 SAR, China Dominica, Grenada, Lao PDR, Sri Lanka, Morocco 577 Kyrgyz Republic 4,160 São Tomé and 577 Burundi 5,005 and Trinidad and Tobago—implemented Príncipe computerized customs management sys- China 580 Uzbekistan 4,585 United Arab 590 Zimbabwe 5,200 tems that allow web-based submission of Emirates customs declarations. Philippines 585 Kazakhstan 4,685 Vietnam 600 Central African 5,554 Republic Thailand 585 Central African 5,491 China 615 Congo, Rep. 7,709 WHAT HAVE WE LEARNED Republic FROM 8 YEARS OF DATA? Latvia 600 Chad 5,902 Finland 620 Chad 8,525 In the past 8 years Doing Business record- Vietnam 610 Tajikistan 8,450 Fiji 635 Tajikistan 9,800 ed 212 trade facilitation reforms around Source: Doing Business database. the world (figure 16.2). Eastern Europe and Central Asia and the Middle East and North Africa had the largest share 88 DOING BUSINESS 2013 TABLE 16.3 Who made trading across borders easier in 2011/12—and what did they do? TABLE 16.4 Who has narrowed the distance Feature Economies Some highlights to frontier in trading across borders the most since 2005? Introduced or Belize; Botswana; Lao PDR launched the ASYCUDA electronic data inter- improved electronic Burundi; Czech change system at the Thanaleng–Friendship Bridge border Improvement in submission and Republic; Dominica; crossing. distance to frontier processing Grenada; Hungary; Most improved (percentage points) Lao PDR; Niger; Georgia 49 Qatar; South Africa; (28Æ77) Spain; Sri Lanka; Trinidad and Tobago; France 31 Uruguay (57Æ88) Improved customs Georgia; Jamaica; Jamaica facilitated overnight processing of customs decla- Rwanda 30 administration Malawi; South Africa rations by extending the hours for lodging customs entries. (0Æ30) Introduced electronic Benin; Portugal; Benin implemented an electronic single-window and Thailand 28 single window Uzbekistan unique payment system integrating customs, control (52Æ80) agencies, port authorities and other service providers at the Djibouti 25 Cotonou port. (50Æ75) Introduced or Botswana; Lao PDR Botswana introduced a scanner at the Kopfontein– Madagascar 25 improved risk-based Tlokweng border crossing, replacing physical inspections. inspections (38Æ63) Trucks are selected for scanning on the basis of their risk. Senegal 23 Improved port Netherlands; The Netherlands introduced a new web-based system for procedures (48Æ71) Uruguay cargo release at the port terminals in Rotterdam. Romania 20 Source: Doing Business database. (50Æ70) Kenya 19 (26Æ45) of economies with such reforms: in both a standardized cargo of goods by ocean Korea, Rep. 17 (74Æ91) regions 83% implemented at least 1. Latin transport (with every official procedure Note: The distance to frontier measure shows how far America and the Caribbean had the next recorded but actual time in the ocean ex- on average an economy is from the best performance largest share, with 73% of economies achieved by any economy on each Doing Business cluded). Today it takes only 22.2 days on indicator since 2005—in this case for the trading across implementing at least 1, followed closely borders indicators. The measure is normalized to range average to export and 25.0 to import (fig- between 0 and 100, with 100 representing the best by Sub-Saharan Africa with 72%. The performance (the frontier). The data refer to the 174 share in East Asia and the Pacific was ure 16.3). Analysis shows that such gains economies included in Doing Business 2006 (2005). have had positive effects. Matching the Eleven economies were added in subsequent years. The 63%, in South Asia 50% and among the first column lists the top 10 most improved economies in OECD high-income economies 42%. data available since 2005 on the time to order; the second shows the absolute improvement in the distance to frontier between 2005 and 2012. trade across borders with GDP per capita Source: Doing Business database. Thanks to these efforts, trading across growth data indicates that a reduction borders as measured by Doing Business has become faster and easier around of 4 days in the time to import or export the world. In 2006 it took 26.0 days on is linked to an increase in the per capita While many economies have made average to export and 30.4 days to import growth rate of 0.1 percentage point.5 strides in improving international trade practices, Georgia has made the greatest FIGURE 16.2 Sub-Saharan Africa leads in number of trade facilitation reforms progress toward the frontier in regula- Number of Doing Business reforms making it easier to trade across borders by Doing tory practice in trading across borders Business report year since 2005 (table 16.4). It did so through Sub-Saharan Africa DB2006 improvements over several years. In (46 economies) 5 5 6 11 14 9 7 6 DB2007 2006 Georgia enacted a new customs Latin America & Caribbean (33 economies) 5 3 6 8 7 4 2 6 code, simplifying the customs clearance DB2008 Middle East & North Africa DB2009 process and better aligning it with inter- (19 economies) 4 2 4 4 6 6 21 Eastern Europe & Central Asia DB2010 national good practices. Three years later (24 economies) 1 3 3 4 6 6 22 DB2011 it reduced the cost to trade and simpli- East Asia & Pacific (24 economies) 4 3 2 4 2 5 11 DB2012 fied the documentation requirements OECD high income DB2013 (31 economies) 4 11 2 2 2 4 5 for imports and exports. And in the past South Asia 12 2 1111 year Georgia created customs clearance (8 economies) 0 10 20 30 40 50 60 70 zones—one-stop shops for different clearance processes. Note: An economy can be considered to have only 1 Doing Business reform per topic and year. The data sample for DB2006 (2005) includes 174 economies. The sample for DB2013 (2012) also includes The Bahamas, Bahrain, Barbados, Brunei Darussalam, Cyprus, Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar, for a total of 185 economies. The most common feature of trade facilita- Source: Doing Business database. tion reforms in all regions over the past 8 TRADING ACROSS BORDERS 89 FIGURE 16.3 Large decline in document preparation time across regions years was the introduction or improvement of electronic submission and processing Average time to export (days) of customs declarations—implemented in 110 economies. The improvement of OECD high income DB2013 DB2007 customs administration was the second most common feature, undertaken by 61 Latin America & Caribbean DB2013 DB2007 economies. Improving port procedures was the third most common among Middle East & North Africa DB2013 DB2007 economies in Sub-Saharan Africa and the Middle East and North Africa. By contrast, East Asia & Pacific DB2013 DB2007 among other economies, including those in Eastern Europe and Central Asia, Latin Eastern Europe & Central Asia DB2013 America and the Caribbean and the OECD DB2007 high-income group, introducing or improv- Sub-Saharan Africa DB2013 ing risk-based inspection systems was DB2007 more common. South Asia DB2013 DB2007 0 10 20 30 40 NOTES Average time to import (days) This topic note was written by Iryna Bilotserkivska, Robert Murillo and Mikiko OECD high income DB2013 DB2007 Imai Ollison. 1. Zoellick and others 2012. Latin America & Caribbean DB2013 DB2007 2. To ensure comparability across econo- mies, the Doing Business methodology Middle East & North Africa DB2013 assumes that trade is by sea transport DB2007 and therefore may not capture regional trade in some regions, such as Sub- East Asia & Pacific DB2013 DB2007 Saharan Africa and Eastern Europe and Central Asia. While sea transport still Eastern Europe & Central Asia DB2013 accounts for the majority of world trade, DB2007 regional trade is becoming increasingly important for small and medium-size Sub-Saharan Africa DB2013 DB2007 enterprises. 3. Arvis, Marteau and Raballand 2010. South Asia DB2013 DB2007 4. Freund and Rocha 2011. The authors use 0 10 20 30 40 50 a modified gravity equation that controls for importer fixed effects and exporter Document Customs clearance Port and Inland remoteness to understand whether preparation and technical control terminal handling transport different types of export costs affect trade differently. All 3 techniques used Note: To ensure an accurate comparison, the figure shows data for the same sample of 174 economies for both DB2007 to analyze the effect on trade values of (2006) and DB2013 (2012) and uses the regional classifications that apply in 2012. The economies added to the Doing export times for key components lead to Business sample after 2006 and therefore excluded here are The Bahamas, Bahrain, Barbados, Brunei Darussalam, Cyprus, Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar. DB2007 data are adjusted for any data revisions and changes in the same conclusion: that inland transit methodology. delays have a robust negative effect on Source: Doing Business database. export values. 5. Results are based on Arellano-Bond dynamic panel estimation to control for economic cycle and time-invariant country-specific factors. Following Eifert (2009) and Djankov, McLiesh and Ramalho (2006), the analysis controls for initial level of education, initial level of income per capita and institutional quality. It also controls for total trade openness and rents from natural resources. 90 Enforcing contracts ƒ Enforcing contracts is easiest in A judicial system that provides effective Among the 185 economies covered by Luxembourg, where it takes 321 commercial dispute resolution is crucial Doing Business, Luxembourg has the top days and 26 procedures and costs to a healthy economy.1 Without one, ranking on the ease of enforcing contracts 9.7% of the value of the claim. firms risk finding themselves operating in (table 17.1). But contract enforcement is an environment where compliance with fastest in Singapore, where it takes only ƒ From June 2011 to June 2012 contractual obligations is not the norm. 150 days to resolve the standardized case Doing Business recorded 11 While using alternative dispute resolu- measured by Doing Business (table 17.2). reforms making it easier to enforce contracts. tion systems may have benefits, Doing Business focuses on how public institu- WHO REFORMED IN ƒ In the past year Poland improved tions function in the case of a commercial ENFORCING CONTRACTS the most in the ease of enforcing dispute.2 Doing Business measures the IN 2011/12? contracts. time, cost and procedural complexity of From June 2011 to June 2012 Doing ƒ Bhutan has advanced the furthest resolving a commercial lawsuit between Business recorded 11 reforms making it toward the frontier in regulatory 2 domestic businesses. The dispute easier to enforce contracts and 1 making it practice in contract enforcement involves the breach of a sales contract more difficult (table 17.3). Brazil, Rwanda since 2005. Among the 10 worth twice the income per capita of the and Saudi Arabia improved electronic economies making the greatest systems in their courts. Such systems of- economy. The case study assumes that progress in this period, 6 are in fer multiple benefits. By allowing litigants the court hears arguments on the merits Sub-Saharan Africa. to file complaints electronically in com- and that an expert provides an opinion on ƒ Introducing specialized commercial the quality of the goods in dispute. This mercial cases, they can speed up the filing courts or divisions was the most distinguishes the case from simple debt and service process. They can prevent the common feature of reforms making enforcement. The time, cost and proce- it easier to enforce contracts in the dures are measured from the perspective TABLE 17.1 Where is enforcing contracts past 8 years. of an entrepreneur (the plaintiff) pursu- easiest—and where most difficult? For more information on good ing the standardized case through local Easiest RANK Most difficult RANK practices and research related to courts. Luxembourg 1 Syrian Arab 176 enforcing contracts, visit http://www Republic .doingbusiness.org/data/ Efficiency in this process matters. A Korea, Rep. 2 Central African 177 exploretopics/enforcing-contracts. study in Eastern Europe found that in Republic For more on the methodology, see the countries with slower courts, firms on av- Iceland 3 Benin 178 section on enforcing contracts in the erage tend to have less bank financing for Norway 4 Honduras 179 data notes. new investment. The study shows that Germany 5 Suriname 180 reforms in other areas, such as creditors’ United States 6 São Tomé and 181 Príncipe rights, help increase bank lending only Austria 7 Bangladesh 182 if contracts can be enforced before the France 8 Angola 183 courts.3 Another recent study, analyzing Finland 9 India 184 98 developing economies, suggests that Hong Kong 10 Timor-Leste 185 foreign direct investment tends to be SAR, China greater where the cost of contract en- Note: Rankings are the average of the economy’s rankings on the procedures, time and cost to resolve forcement in debt collection and property a commercial dispute through the courts. See the data eviction cases is lower, particularly when notes for details. Source: Doing Business database. the host economy is more indebted.4 ENFORCING CONTRACTS 91 TABLE 17.2 Who makes enforcing contracts FIGURE 17.1 Sub-Saharan Africa continues to lead in number of contract enforcement reforms easy—and who does not? Number of Doing Business reforms making it easier to enforce contracts by Doing Business Procedures (number of steps) report year Fewest Most Sub-Saharan Africa 2 6 6 2 5 6 4 4 (46 economies) Ireland 21 Armenia 49 OECD high income DB2006 (31 economies) 5 8 2 3 2 3 1 2 Singapore 21 Guinea 49 Eastern Europe & Central Asia DB2007 Rwanda 23 Kuwait 50 (24 economies) 5 4 2 5 1 3 3 DB2008 Austria 25 Belize 51 Latin America & Caribbean (33 economies) 1 4 2 3 11 DB2009 Belgium 26 Iraq 51 East Asia & Pacific DB2010 (24 economies) 2 2 1 2 2 1 Luxembourg 26 Oman 51 DB2011 Middle East & North Africa 1 4 11 Netherlands 26 Timor-Leste 51 (19 economies) DB2012 Czech Republic 27 Kosovo 53 South Asia 111 DB2013 (8 economies) Hong Kong 27 Sudan 53 0 5 10 15 20 25 30 35 SAR, China Note: An economy can be considered to have only 1 Doing Business reform per topic and year. The data sample for DB2006 Iceland 27 Syrian Arab 55 (2005) includes 174 economies. The sample for DB2013 (2012) also includes The Bahamas, Bahrain, Barbados, Brunei Republic Darussalam, Cyprus, Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar, for a total of 185 economies. Source: Doing Business database. Time (days) Fastest Slowest which involves monitoring and managing to increase court efficiency in recent Singapore 150 Sri Lanka 1,318 cases in the court docket from the filing years. Two economies implemented such Uzbekistan 195 Barbados 1,340 of the claim until the judgment is issued, reforms in the past year. Liberia launched New Zealand 216 Trinidad and 1,340 Tobago has proved to be an effective tool for a specialized commercial court in Bhutan 225 Colombia 1,346 reducing procedural delays at court and November 2011 and has already appoint- Korea, Rep. 230 India 1,420 for monitoring the performance of judges ed 3 new judges for the court. Cameroon Rwanda 230 Bangladesh 1,442 and court officers. created specialized commercial divisions Azerbaijan 237 Guatemala 1,459 Increasing the specialization of judges, within its courts of first instance. Benin Kyrgyz Republic 260 Afghanistan 1,642 Namibia 270 Guinea-Bissau 1,715 divisions or courts in commercial cases appointed more judges and bailiffs in Russian 270 Suriname 1,715 has been a common feature of reforms commercial courts. And it introduced the Federation FIGURE 17.2 Contract enforcement has become faster in most regions Cost (% of claim) Average time to enforce contracts (days) Least Most Bhutan 0.1 Comoros 89.4 Eastern Europe & Central Asia DB2013 Iceland 8.2 Malawi 94.1 DB2008 Luxembourg 9.7 Cambodia 103.4 OECD high income DB2013 Norway 9.9 Papua New 110.3 DB2008 Guinea Korea, Rep. 10.3 Zimbabwe 113.1 East Asia & Pacific DB2013 DB2008 China 11.1 Indonesia 139.4 Slovenia 12.7 Mozambique 142.5 Middle East & North Africa DB2013 DB2008 Portugal 13.0 Congo, Dem. 147.6 Rep. Sub-Saharan Africa DB2013 Finland 13.3 Sierra Leone 149.5 DB2008 Russian 13.4 Timor-Leste 163.2 Federation Latin America & Caribbean DB2013 DB2008 Source: Doing Business database. South Asia DB2013 DB2008 0 200 400 600 800 1,000 1,200 loss, destruction or concealment of court records. And they can increase transpar- Filing and service Trial and judgment Enforcement ency and limit opportunities for corrup- Note: To ensure an accurate comparison, the figure shows data for the same sample of 178 economies for both DB2008 tion in the judiciary. Even more beneficial (2007) and DB2013 (2012) and uses the regional classifications that apply in 2012. The economies added to the Doing Business sample after 2007 and therefore excluded here are The Bahamas, Bahrain, Barbados, Cyprus, Kosovo, Malta and is the use of computerized systems for Qatar. DB2008 data are adjusted for any data revisions and changes in methodology. case management. Case management, Source: Doing Business database. 92 DOING BUSINESS 2013 TABLE 17.3 Who made enforcing contracts easier in 2011/12—and what did they do? year the implementation of electronic Feature Economies Some highlights filing systems was among the most com- Increased procedural Georgia; Poland; The Slovak Republic amended its civil procedure code to mon improvements recorded by Doing efficiency at main trial Slovak Republic; simplify and speed up proceedings and to limit obstructive Business. Today 19 economies allow elec- court Turkey tactics by the parties to a case. tronic filing of complaints, including 12 Introduced Brazil; Rwanda; Saudi Arabia expanded the computerization of its courts or expanded Saudi Arabia and introduced an electronic filing system for commercial OECD high-income economies. Among computerized case cases, allowing attorneys to submit a summons online all OECD high-income economies, the management system through a dedicated website. average time for filing and service fell by 9 Significantly increased Benin; Liberia; Poland appointed more judges and bailiffs in commercial number of judges Poland courts. days between 2007 and 2012 (see figure Made enforcement Poland; Serbia Serbia introduced private bailiffs. 17.2). of judgment more efficient Specialized courts tend to improve effi- Introduced specialized Cameroon; Liberia Liberia launched a specialized commercial court in Novem- ciency.5 Creating specialized commercial commercial court ber 2011 and has appointed 3 new judges for the court. courts can result in faster and less costly Source: Doing Business database. contract enforcement, particularly where the commercial caseload is large. Today concept of managing judges as well as deliver a complaint to the defendant in 82 of the 185 economies covered by Doing enforcement judges. less than 60 days. Business have a dedicated stand-alone court, a specialized commercial section Serbia made it easier to enforce contracts WHAT HAVE WE LEARNED within an existing court or specialized by introducing a private bailiff system, FROM 8 YEARS OF DATA? judges within a general civil court. In 7 providing competitive options for enforc- In the past 8 years Doing Business re- Sub-Saharan African economies that ing a binding decision. The winning party corded 116 reforms that helped improve introduced commercial courts or sections in a commercial case may now choose court efficiency in commercial dispute in the past 10 years—the Democratic between private and court bailiffs to carry resolution. Sub-Saharan Africa had the Republic of Congo, Ghana, Lesotho, most reforms, with 35 (figure 17.1). But Mauritania, Mozambique, Nigeria and out enforcement proceedings. Eastern Europe and Central Asia, the Rwanda—the average time to resolve the Georgia, Poland, the Slovak Republic and region where contract enforcement is standardized case measured by Doing Turkey amended the procedural rules the fastest on average (figure 17.2), had Business dropped by more than 5 months. applying to commercial cases, mainly to the largest share of economies with such Poland improved the most in the ease of simplify and speed up proceedings and to reforms: 15 of 24 economies in the region enforcing contracts in the past year and is limit obstructive tactics by the parties to a implemented at least 1. also among the 10 economies advancing case. New legislation adopted in January Some economies introduced specialized the furthest toward the frontier in regu- 2012 by the Slovak Republic imposes commercial courts. Others overhauled latory practice in this area since 2005 new individual deadlines on the parties the organization of their courts or their (table 17.4). In 2003 resolving a commer- at different stages of the proceedings. system of judicial case management for cial dispute in Warsaw took 1,000 days. For example, courts are now obliged to commercial dispute resolution. In the past Today, thanks to extensive efforts, it takes 685 (figure 17.3). FIGURE 17.3 How Poland cut the time to enforce contracts by a third in Warsaw What did Poland do? In 2007 it started deregulating the bailiff profession, Time (days) increasing the number of service provid- 980 1,000 ers. That same year it created its first 830 Introduced a simpler electronic court, in Lublin; the new court, 800 procedure for small claims 685 which processes cases and assigns them Deregulated the bailiff 600 profession and created to judges in only 2–3 weeks on average, the first electronic court Cut procedural steps in commercial cases and has already dealt with more than 3 million 400 appointed more judges and bailiffs cases. In a parallel effort Poland launched 200 Introduced court management systems in 2003 and launched the Praetor software in 2007, an information technology system in streamlining document handling and improving case monitoring 2003, then the Praetor software in 2007, 0 improving the internal operations of 2005 2007 2012 courts over time. The software system Source: Doing Business database. facilitates the circulation of documents ENFORCING CONTRACTS 93 TABLE 17.4 Who has narrowed the distance within the court and allows users to trace to frontier in enforcing contracts the history of the decision stage for par- the most since 2005? ticular documents. By 2007 the imple- Improvement in mentation of these court management distance to frontier Most improved (percentage points) systems had already reduced the backlog Bhutan 35 of cases by 36% compared with 2004. (31Æ66) Gambia, The 14 Efforts are ongoing. In May 2012 Poland (50Æ64) amended its civil procedure code, Poland 13 eliminating separate procedural steps in (50Æ63) commercial cases. Poland also appointed Botswana 11 (56Æ67) more judges and bailiffs to the district and Georgia 11 regional commercial courts, expanded (59Æ70) the role of judges in managing processes Mozambique 10 (particularly in the introduction of evi- (29Æ39) dence), expanded the responsibilities of Nigeria 8 (48Æ56) assistant judges (such as in overseeing Lesotho 7 bailiffs and enforcing court judgments), (44Æ51) allowed new electronic processes and in- Mali 6 troduced economic incentives for debtors (43Æ49) to comply with judgments. Portugal 6a (64Æ70) Note: The distance to frontier measure shows how far on average an economy is from the best performance NOTES achieved by any economy on each Doing Business This topic note was written by Joyce Antone indicator since 2005—in this case for the enforcing contracts indicators. The measure is normalized to range Ibrahim and Julien Vilquin. between 0 and 100, with 100 representing the best 1. Ramello and Voigt 2012. performance (the frontier). The data refer to the 174 economies included in Doing Business 2006 (2005). 2. World Bank Facility for Investment Eleven economies were added in subsequent years. The Climate Advisory Services 2011. first column lists the top 10 most improved economies in order; the second shows the absolute improvement in the 3. Safavian and Sharma 2007. distance to frontier between 2005 and 2012. 4. Ahlquist and Prakash 2010. a. Ethiopia, FYR Macedonia and Malaysia also have an 5. Botero and others 2003. improvement of 6 percentage points. Source: Doing Business database. 94 Resolving insolvency ƒ Creditors of firms facing insolvency Driven by steeper labor costs and the high affected by the key variables of time, cost benefit from the highest recovery fuel prices and dampened travel demand and outcome (tables 18.1 and 18.2). rate in Japan. resulting from the global financial crisis, Whether insolvency proceedings are ƒ From June 2011 to June 2012 Doing American Airlines, the third largest U.S. efficient matters not just for firms that Business recorded 17 reforms carrier, filed for Chapter 11 bankruptcy in are struggling. A recent study shows aimed at improving insolvency November 2011. Its core business is still that Brazil’s 2005 bankruptcy reform, proceedings. viable, and if allowed to reorganize its which strengthened the rights of secured finances and operations the company creditors, led to a significant reduction in ƒ Poland is among the 10 economies could avoid failure—to the benefit of its the cost of debt and an increase in both advancing the furthest toward the creditors, shareholders and employees. short- and long-term debt.2 However, an frontier in regulatory practice in Thanks to the solid insolvency laws in analysis of Italy’s 2005–06 reform of its resolving insolvency since 2005. the United States, American Airlines had bankruptcy law shows that excessive use ƒ Common features of insolvency the opportunity to file for restructuring, of reorganization proceedings increases reforms in the past 8 years and if the company’s viability is proven, interest rates on loan financing because it include passing new bankruptcy reduces the incentives for entrepreneurs it is expected to survive.1 This does not laws, promoting reorganization to act prudently.3 Another study, focusing happen in the many economies that lack proceedings, shortening time on U.S. airlines, shows that bankruptcies restructuring frameworks. reduce the collateral value of other firms limits, regulating the qualifications of insolvency administrators and in the same industry, increasing the cost Doing Business measures the time, cost strengthening the rights of secured and outcome of insolvency proceedings creditors. involving domestic entities. The time re- TABLE 18.1 Where is resolving insolvency easiest—and where most difficult? ƒ Eastern Europe and Central quired for creditors to recover their credit Recovery rate Asia had the biggest increase in is recorded in calendar years. The cost of Easiest Most difficult the recovery rate in the past 8 the proceedings is recorded as a percent- Japan 92.8 Angola 8.0 years, while OECD high-income age of the value of the debtor’s estate. The Singapore 91.3 Venezuela, RB 6.4 economies had the most insolvency recovery rate for creditors depends on Norway 90.8 São Tomé and 5.2 reforms. whether the case study company (a hotel Príncipe For more information on good business) emerges from the proceed- Canada 90.7 Philippines 4.9 practices and research related ings as a going concern or its assets are Finland 89.7 Micronesia, 3.4 Fed. Sts. to resolving insolvency, visit sold piecemeal. The rate is recorded as http://www.doingbusiness.org/data/ Netherlands 88.8 Rwanda 3.1 cents on the dollar recouped by creditors exploretopics/resolving-insolvency. Belgium 88.7 Congo, Dem. 1.6 through reorganization, liquidation or debt Rep. For more on the methodology, see the enforcement (foreclosure) proceedings. United 88.6 Zimbabwe 0.1 section on resolving insolvency in the Kingdom If an economy had zero insolvency cases data notes. Ireland a year over the past 5 years, it receives a 87.5 Central African 0.0 Republic “no practice” classification. This means Denmark 87.1 Eritrea 0.0a that creditors are unlikely to recover their Note: Rankings are based on the recovery rate: how money through a formal legal process (in many cents on the dollar creditors recover from an insolvent firm as calculated by Doing Business. See the or out of court). The recovery rate for “no data notes for details. practice” economies is zero. The rank- a. Sixteen economies have a recovery rate of 0, including ing on the ease of resolving insolvency 14 “no practice” economies. Source: Doing Business database. is based on the recovery rate, which is RESOLVING INSOLVENCY 95 TABLE 18.2 Who makes resolving insolvency TABLE 18.3 Who made resolving insolvency easier in 2011/12—and what did they do? easy—and who does not? Feature Economies Some highlights Time (years) Established Belarus; Germany; Germany amended its insolvency law to facilitate in-court Fastest Slowest or promoted Greece; Kazakhstan; restructuring of distressed companies, providing new reorganization, Lithuania; Moldova; opportunities for creditors and debtors. Ireland 0.4 Congo, Dem. 5.2 liquidation or Poland; Serbia; Rep. foreclosure Slovak Republic; Japan 0.6 Ecuador 5.3 procedures Spain; Uzbekistan Canada 0.8 Micronesia, 5.3 Eliminated formalities Belarus; Georgia; Georgia streamlined all insolvency procedures, introducing Fed. Sts. or introduced or Kazakhstan; a deadline for the creditors’ first meeting and shorter time tightened time limits Republic of Korea; limits for the submission of documentation and creditors’ Singapore 0.8 Indonesia 5.5 Lithuania; Slovenia; claims, for decisions on the outcome of insolvency proceed- Belgium 0.9 Haiti 5.7 Uganda; Uzbekistan ings and for the duration of the auction. Finland 0.9 Philippines 5.7 Regulated profession Kazakhstan; Zambia established qualification requirements, professional of insolvency Moldova; Poland; duties and provisions on pay for liquidators and receivers. Norway 0.9 Cambodia 6.0 administrators Slovenia; Uganda; Australia 1.0 Angola 6.2 Zambia Belize 1.0 São Tomé and 6.2 Granted priority to Kazakhstan; Slovak The Slovak Republic strengthened the rights of secured Príncipe secured creditors Republic creditors, prioritizing their claims and granting them voting power over the restructuring plan. Denmark 1.0a Mauritania 8.0 Increased Lithuania; Serbia Serbia introduced an online public registry, making public transparency of all injunctions issued by the court. Cost (% of estate) insolvency system Least Most Introduced framework Portugal; Spain Spain improved its framework for out-of-court restructur- Norway for out-of-court ing by facilitating the approval of an agreement between 1 Dominican 38 Republic restructurings creditors and debtors. Singapore Source: Doing Business database. 1 Marshall 38 Islands Armenia 4 Micronesia, 38 Fed. Sts. WHO REFORMED IN RESOLVING procedures and introducing a debt-for- Bahamas, The 4 Philippines 38 c INSOLVENCY IN 2011/12? equity swap remedy. It also strengthened Belgium 4 Sierra Leone 42 From June 2011 to June 2012 Doing the rights of secured creditors by involv- Brunei 4 Ukraine 42 Business recorded 17 reforms making it ing creditors in the restructuring process Darussalam and establishing a preliminary creditors’ easier to resolve insolvency (table 18.3). Canada 4 Liberia 43 Most were in Eastern Europe and Central committee. The Slovak Republic adopted Denmark 4 Rwanda 50 a new amendment to its bankruptcy and Asia, where 29% of economies had Finland 4 Chad 60 restructuring law that clearly defines the such reforms, and in OECD high-income Georgia 4b Central African 76 roles and powers of creditors, secured Republic economies, of which 26% did. creditors and trustees with the aim of a. Four other economies also have a time of 1 year: Iceland; Palau; the Solomon Islands; and the United Germany promoted its reorganization increasing the efficiency of the insolvency Kingdom. proceedings by streamlining insolvency process. b. Eleven other economies also have a cost of 4% of the estate value: Iceland; Japan; Korea; Maldives; the Netherlands; New Zealand; Oman; Pakistan; Slovenia; FIGURE 18.1 Eastern Europe & Central Asia and OECD high-income economies keep up fast pace in Switzerland; and Taiwan, China. insolvency reforms c. Four other economies also have a cost of 38% of the estate value: Samoa; the Solomon Islands; Vanuatu; and Number of Doing Business reforms making it easier to resolve insolvency by Doing Business República Bolivariana de Venezuela. report year Source: Doing Business database. OECD high income (31 economies) 3 5 4 7 4 8 9 8 Eastern Europe & Central Asia DB2006 of external debt financing for all firms (24 economies) 1 3 4 3 4 7 10 7 DB2007 in the industry.4 In the aftermath of the Sub-Saharan Africa (46 economies) 1 11 4 6 2 DB2008 financial crisis, researchers, practitioners East Asia & Pacific (24 economies) 2 11 2 2 3 DB2009 and policy makers have been emphasiz- Latin America & Caribbean DB2010 ing the importance of efficient bankruptcy (33 economies) 1 2 3 2 1 DB2011 regimes to strengthen local economies Middle East & North Africa (19 economies) 11 1 DB2012 while also discussing the challenges of South Asia DB2013 implementing bankruptcy reforms.5 (8 economies) 1 0 10 20 30 40 50 Note: An economy can be considered to have only 1 Doing Business reform per topic and year. The data sample for DB2006 (2005) includes 174 economies. The sample for DB2013 (2012) also includes The Bahamas, Bahrain, Barbados, Brunei Darussalam, Cyprus, Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar, for a total of 185 economies. Source: Doing Business database. 96 DOING BUSINESS 2013 FIGURE 18.2 Big increase in recovery rate in Eastern Europe and Central Asia TABLE 18.4 Who has narrowed the distance Average recovery rate by type of outcome (cents on the dollar) to frontier in resolving insolvency the most since 2005? Improvement in OECD high income DB2013 distance to frontier DB2006 Most improved (percentage points) DB2013 Czech Republic 40 Eastern Europe & Central Asia (20Æ60) DB2006 Afghanistan 29 DB2013 (0Æ29) East Asia & Pacific DB2006 Uzbekistan 29 DB2013 (12Æ41) Middle East & North Africa DB2006 Latvia 27 (37Æ64) DB2013 South Asia Colombia 26 DB2006 (55Æ81) DB2013 Belarus 23 Latin America & Caribbean DB2006 (23Æ46) Côte d’Ivoire 23 Sub-Saharan Africa DB2013 (17Æ40) DB2006 0 20 40 60 80 100 120 Poland 23 (35Æ58) Outcome as piecemeal sale Outcome as going concern Burkina Faso 22 (8Æ30) Note: To ensure an accurate comparison, the figure shows data for the same sample of 174 economies for both DB2006 Senegal 22 (2005) and DB2013 (2012) and uses the regional classifications that apply in 2012. The economies added to the Doing (13Æ35) Business sample after 2005 and therefore excluded here are The Bahamas, Bahrain, Barbados, Brunei Darussalam, Cyprus, Note: The distance to frontier measure shows how far on Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar. DB2006 data are adjusted for any data revisions and changes in average an economy is from the best performance achieved methodology. All outcomes are recorded as piecemeal sales for economies in the Middle East and North Africa and South Asia. by any economy on each Doing Business indicator since Source: Doing Business database. 2005—in this case for the resolving insolvency indicator. The measure is normalized to range between 0 and 100, with 100 representing the best performance (the frontier). The data refer to the 174 economies included in Doing Business 2006 (2005). Eleven economies were added in Kazakhstan further developed its reha- such as out-of-court workouts. Shortening subsequent years. The first column lists the top 10 most bilitation process by introducing an ac- the time limits for different procedures improved economies in order; the second shows the absolute improvement in the distance to frontier between celerated proceeding, setting clear time was also a common feature of insolvency 2005 and 2012. limits for developing a rehabilitation plan reforms. Other common features were Source: Doing Business database. and clearly defining the roles and powers regulating and refining standards for the of the court in the process. Lithuania also profession of insolvency administrators specified time limits for some insolvency and strengthening the rights of secured of insolvency reforms globally: 29. Doing procedures, including for creditors to file creditors. Business 2006 recorded only 8. In the past their claims and for the court to hear an year 4 regions had no insolvency reforms: The financial crisis prompted many appeal of the ruling to initiate bankruptcy East Asia and the Pacific, Latin America economies to take immediate action to proceedings or dismiss the administrator. and the Caribbean, the Middle East and improve their insolvency regimes. Doing Business 2012 reported a record number North Africa, and South Asia. WHAT HAVE WE LEARNED FROM 8 YEARS OF DATA? FIGURE 18.3 Poland improved the efficiency of insolvency proceedings in the past 6 years In the past 8 years Doing Business Recovery rate doubled recorded 126 insolvency reforms in 74 economies (figure 18.1). While economies 54.5 focused their efforts on different aspects of insolvency, these reforms still shared some common features. For example, 27 Cost cut by a third 27.8 economies passed new bankruptcy laws 22.0 over the past 8 years. Many economies 15.0 promoted reorganization proceedings by simplifying and accelerating procedures, Cost (% of estate) Recovery rate (cents on the dollar) defining the roles of the parties involved 2007 2012 and introducing innovative instruments Source: Doing Business database. RESOLVING INSOLVENCY 97 How has the efficiency in resolving insol- the cost to complete an insolvency 1. Patrick Rizzo, “American Airlines Files vency changed? No significant improve- proceeding by a third between 2007 and for Bankruptcy Protection,” NBC News, November 29, 2011, http://bottomline ments were observed in low-income 2012—and doubled the recovery rate .nbcnews.com/; Kyle Peterson and Matt economies from 2005 to 2012: the (figure 18.3). Among the highlights of Daily, “American Airlines Files for average time to complete an insolvency Poland’s insolvency reforms: specifying Bankruptcy,” Reuters, November 29, 2011, proceeding remained at 3.9 years, and the qualifications for insolvency administra- http://www.reuters.com/. average cost even increased from 23% to tors with the aim of improving the quality 2. De Araujo, Xavier Ferreira and Funchal 24% of the value of the debtor’s estate.6 of professional services, reducing the cost 2011. Globally over that period, the average by setting a maximum limit on pay for 3. Rodano, Serrano-Velarde and Tarantino administrators, and introducing a pre- 2011. time to complete an insolvency proceed- bankruptcy reorganization procedure. In 4. Benmelech and Bergman 2011. ing fell from 3 years to 2.8 years, the cost the past year Poland continued its reform 5. Cirmizi, Klapper and Uttamchandani remained at about 20%, and the recovery 2012. rate rose from 31% to 35% (figure 18.2). trajectory by strengthening the rights of 6. To ensure an accurate comparison, only secured creditors and making it easier to the 32 low-income economies in- Poland is among those making the big- start bankruptcy proceedings. cluded in the Doing Business 2006 (2005) gest improvements since 2005 in the sample are included. efficiency of resolving insolvency as measured by Doing Business (table 18.4). NOTES Through extensive efforts to build a full- This topic note was written by Valentina fledged insolvency regime, it reduced Saltane and Rong Chen. 98 Annex: employing workers ƒ Fourteen economies implemented Employment laws are needed to protect HIGHLIGHTS FROM THE changes in their labor regulations workers from arbitrary or unfair treat- EMPLOYING WORKERS DATA affecting the Doing Business ment and to ensure efficient contracting Doing Business covers 28 different areas indicators on employing workers in between employers and workers. Doing related to employing workers. This year’s the past year; 72 did so in the past Business, through its employing work- report highlights 2 of them—apprentice 8 years. wages and the use of fixed-term con- ers indicators, measures flexibility in ƒ In 107 economies there is no tracts for permanent tasks, both likely to the regulation of hiring, working hours limit on how long fixed-term affect the employability of young workers. and redundancy. These measures are employment contracts may last. Future editions will analyze other areas. consistent with the conventions of the In the 78 economies that have set a limit, the average maximum International Labour Organization (ILO) Apprentice wages duration of fixed-term contracts is but do not assess compliance with them. Young workers are especially likely to 39.2 months. The indicators do not cover any of the ILO experience the negative effects of rigid core labor standards, such as the right to employment regulation. They typically ƒ One hundred and seventy-four collective bargaining, the elimination of lack training and substantial experience, economies limit employees’ forced labor, the abolition of child labor and burdensome regulation and high re- workweek in manufacturing to dundancy costs discourage potential em- 6 or fewer days, complying with and equitable treatment in employment ployers. Apprentice wages are one way International Labour Organization practices. to address these issues and create new (ILO) Convention 14 on the length To make the data comparable across opportunities for young workers. They of the workweek. allow businesses to hire young, first-time 185 economies, Doing Business uses a ƒ One hundred and fifty-four employees for a portion—typically be- standardized case study that assumes, economies have set a minimum tween 70% and 80%—of the mandatory wage by law, and 48 of them have among other things, a company with 60 minimum wage for a short period of time, set a special minimum wage for employees that operates in the manufac- typically 1 year. Data show that the aver- apprentices. turing sector and an employee who is a age minimum wage ratio for apprentices ƒ Redundancy dismissals are allowed nonexecutive, full-time worker. around the world is 0.33.1 in 183 of 185 economies. ƒ The average cost of redundancy FIGURE 19.1 Apprentice wages are rare in the Middle East and North Africa dismissals in the 185 economies as Share of economies with apprentice wages (%) measured by Doing Business is 17.2 63 weeks of salary. For more information on the 48 methodology for the employing workers indicators, see the section on 33 employing workers in the data notes. 27 17 8 5 South OECD East Asia Latin Sub-Saharan Eastern Middle East & Asia high income & Pacific America Africa Europe & North Africa & Caribbean Central Asia Source: Doing Business database. ANNEX: EMPLOYING WORKERS 99 FIGURE 19.2 Fixed-term contracts are more TABLE 19.1 Who made employing workers easier in 2011/12—and what did they do? widely allowed among high- income economies Feature Economies Some highlights Strengthened fixed- Czech Republic; The Czech Republic and Slovak Republic increased the maxi- Share of economies allowing fixed- term contracts Portugal; Slovak mum duration of a single fixed-term contract from 24 months term contracts by income group (%) Republic; Spain to 36. The Czech Republic also allows 2 renewals of the contract, for a total of up to 108 months. Portugal increased the maximum cumulative duration of fixed-term contracts 76 from 36 months to 54. Spain temporarily allowed unlimited cumulative duration of fixed-term contracts. 60 59 Reduced redundancy Czech Republic; The Czech Republic made severance pay in cases of costs Montenegro; redundancy dismissal dependent on the employee’s years of 48 Portugal; Slovak service. Montenegro reduced severance payments applicable Republic in cases of redundancy dismissal, and the Slovak Republic eliminated them.a Portugal reduced the severance pay ap- plicable to contracts signed after November 1, 2012, to 20 days. Strengthened Bhutan; Kosovo Bhutan and Kosovo implemented a minimum wage in the conditions on private sector for the first time. Low Lower Upper High applicable hiring income middle middle income rules income income Streamlined process Latvia; Slovak Latvia and the Slovak Republic changed their restrictions for redundancy Republic on redundancy dismissals. An employer making 1 or more Source: Doing Business database. dismissals workers redundant no longer needs to notify the authorities beforehand. a. Montenegro also reduced the maximum duration of single and multiple fixed-term contracts from an unlimited period to 24 months, increased paid annual leave from 19 working days to 21 and increased the notice period applicable in cases of Use of this practice is most common in redundancy dismissal. South Asia, where 63% of economies Source: Doing Business database. have some kind of apprentice wages, and among OECD high-income economies, workers are given the opportunity to WHO REFORMED IN where 48% do. It is much less common acquire professional skills, and employ- EMPLOYING WORKERS in other regions: only 8% of economies ers can optimize their labor costs while IN 2011/12? in Eastern Europe and Central Asia have evaluating the workers’ performance. In 2011/12, 14 economies changed their apprentice wages, and only 5% in the And evidence suggests that fixed-term labor regulations in ways that affect the Middle East and North Africa do (figure contracts maximize the chances of a Doing Business indicators on employing 19.1). Economies without apprentice temporary worker being promoted to a workers. Eight economies changed their wages are missing an important oppor- permanent position. Once a vacancy for laws to increase labor market flexibility; 6 tunity to help young workers access the a permanent position arises, employers economies did the opposite. Of those 8 labor market. Apprenticeships can pay a would prefer to fill the vacancy with a economies, 3 are in Eastern Europe and “double dividend”: securing the transition worker who already has the skills required Central Asia. Most of the legal changes to permanent employment for young and who has performed adequately in increasing labor market flexibility focused workers and providing lower labor costs previous months.3 on redundancy costs or procedures (table (compensated by a training commit- 19.1). ment) for the employer.2 Where restrictive regulations prohibiting these contracts are left in place, young WHAT HAVE WE LEARNED Fixed-term contracts for workers therefore find it more difficult FROM 8 YEARS OF DATA? permanent tasks to access and transition to permanent Another measure that may encourage In the past 8 years 72 economies around employment. This is the case in more businesses to hire young workers is al- the world implemented 106 reforms than half of low-income economies: 52% affecting the employing workers indica- lowing the use of fixed-term contracts of such economies do not allow fixed- tors. OECD high-income economies had for permanent tasks. Such economies term contracts for permanent tasks. Use the most changes, with 37, followed by as Denmark and the United States allow of such contracts increases with income Eastern Europe and Central Asia with 26 this practice, and some, such as Italy and level. Indeed, 38 of 50 high-income and Sub-Saharan Africa with 16 (figure Lithuania, have reformed their labor regu- economies (76%) allow employers to use 19.3). The data also show differences lations in recent years to allow it. fixed-term contracts for permanent tasks in focus. Governments in Sub-Saharan These contracts are used to screen work- (figure 19.2). Africa, for example, focused on reform- ers for permanent positions, with on-the- ing the regimes applicable to fixed-term job training providing a test of abilities. contracts, generally allowing longer, Both parties benefit: young fixed-term 100 DOING BUSINESS 2013 FIGURE 19.3 OECD high-income economies had the most legal and regulatory reforms in the past 8 years Number of Doing Business reforms in employing workers by Doing Business report year OECD high income 7 3 3 6 4 6 3 5 37 DB2006 (31 economies) DB2007 Eastern Europe & Central Asia (24 economies) 3 5 3 2 5 1 4 3 26 DB2008 Sub-Saharan Africa DB2009 (46 economies) 3 3 4 3 1 1 1 16 East Asia & Pacific DB2010 (24 economies) 1 2 3 1 1 8 DB2011 Latin America & Caribbean (33 economies) 2 1 2 1 2 8 DB2012 South Asia 1 2 1 1 1 6 DB2013 (8 economies) Middle East & North Africa 1 1 2 1 5 (19 economies) 0 5 10 15 20 25 30 35 40 Note: An economy can be considered to have only 1 Doing Business reform per topic and year. The data sample for DB2006 (2005) includes 174 economies. The sample for DB2013 (2012) also includes The Bahamas, Bahrain, Barbados, Brunei Darussalam, Cyprus, Kosovo, Liberia, Luxembourg, Malta, Montenegro and Qatar, for a total of 185 economies. Source: Doing Business database. sometimes indefinite, duration. One such Economies in Eastern Europe and Central change was Rwanda’s in 2010. Asia focused on easing restrictions relating to redundancy dismissals. For By contrast, governments in OECD high- example, in 2009 Estonia eliminated income economies focused on reducing an employer’s obligation to obtain prior redundancy costs, addressing one of approval from labor authorities when car- the main factors deterring employers rying out redundancy dismissals. And the from creating jobs in the formal sector.4 Kyrgyz Republic, also in 2009, eliminated Indeed, 15 labor regulation reforms intro- the priority rules mandating the dismissal duced by OECD high-income economies of more junior workers first in cases of in the past 8 years (including Portugal’s redundancy. reform of the past year) either shortened the required notice period for employees or reduced the severance pay applicable NOTES in cases of redundancy dismissal. Today This annex was written by Fernando the average severance payment in OECD Dancausa Diaz, Raian Divanbeigi and Galina high-income economies is 5.83 weeks of Rudenko. salary.5 1. Ratio of the apprentice minimum wage to the value added per worker. Severance payments matter when it 2. Scarpetta, Sonnet and Manfredi 2010. comes to labor regulation, since they 3. Varejão and Portugal 2007. are the prevalent form of insurance 4. Bosch and Esteban-Pretel 2009. against unemployment, particularly in 5. Average for workers with 1, 5 and 10 low-income economies that have not years of tenure. Collective bargaining agreements in OECD high-income implemented unemployment protection economies may establish severance schemes. They protect workers from payments that are more generous on abuses and provide a safety net in case average. See the data notes for more of sudden job loss. But some economies information on cases in which Doing adopt a very restrictive approach: the av- Business considers collective bargaining agreements. erage severance payment in Sub-Saharan 6. Average for workers with 1, 5 and 10 Africa is 15.81 weeks of salary,6 almost 3 years of tenure. times the average in OECD high-income economies. 101 References Aghion, Philippe, Robin Burgess, Stephen Assessment Measures. http://publications Redding and Fabrizio Zilibotti. 2008. .apec.org/. “The Unequal Effects of Liberalization: ___. 2011b. 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To start, the number of procedures to start a business Doing Business team, with academic or to register and transfer commercial advisers, designs a questionnaire. The property. Second, they gauge the time questionnaire uses a simple business and cost of achieving a regulatory goal case to ensure comparability across or complying with regulation, such as the economies and over time—with as- time and cost to enforce a contract, go sumptions about the legal form of the through bankruptcy or trade across bor- business, its size, its location and the ders. Third, they measure the extent of nature of its operations. Questionnaires legal protections of property, for example, are administered through more than the protections of investors against loot- 9,600 local experts, including lawyers, ing by company directors or the range business consultants, accountants, of assets that can be used as collateral freight forwarders, government of- according to secured transactions laws. ficials and other professionals routinely Fourth, a set of indicators documents the administering or advising on legal and tax burden on businesses. Finally, a set of regulatory requirements (table 20.2). data covers different aspects of employ- These experts have several rounds ment regulation. The 11 sets of indicators of interaction with the Doing Business measured in Doing Business were added team, involving conference calls, writ- over time, and the sample of economies ten correspondence and visits by the expanded (table 20.1). team. For Doing Business 2013 team TABLE 20.1 Topics and economies covered by each Doing Business report DB DB DB DB DB DB DB DB DB DB Topic 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Starting a business Employing workers Enforcing contracts Resolving insolvency Getting credit Registering property Protecting investors Paying taxes Trading across borders Dealing with construction permits Getting electricity Number of economies 133 145 155 175 178 181 183 183 183 185 Note: Data for the economies added to the sample each year are back-calculated to the previous year. The exception is Kosovo, which was added to the sample after it became a member of the World Bank Group. DATA NOTES 107 TABLE 20.2 How many experts does Doing To address this limitation, subnational completing a procedure may take longer Business consult? Doing Business indicators were created if the business lacks information or is un- Indicator set Contributors (box 20.1). Second, the data often focus able to follow up promptly. Alternatively, Starting a business 1,585 on a specific business form—gener- the business may choose to disregard Dealing with construction permits 852 ally a limited liability company (or its some burdensome procedures. For both Getting electricity 830 legal equivalent) of a specified size—and reasons the time delays reported in Doing Registering property 1,069 may not be representative of the regula- Business 2013 would differ from the recol- Getting credit 1,325 tion on other businesses, for example, lection of entrepreneurs reported in the Protecting investors 1,083 sole proprietorships. Third, transactions World Bank Enterprise Surveys or other Paying taxes 1,173 described in a standardized case scenario perception surveys. Trading across borders 933 refer to a specific set of issues and may not Enforcing contracts 1,146 represent the full set of issues a business ECONOMY CHARACTERISTICS Resolving insolvency 1,085 encounters. Fourth, the measures of time Gross national income per capita Employing workers 1,052 involve an element of judgment by the ex- Doing Business 2013 reports 2011 pert respondents. When sources indicate income per capita as published in the World Bank’s World Development members visited 24 economies to verify different estimates, the time indicators Indicators 2012. Income is calculated data and recruit respondents. The data reported in Doing Business represent the using the Atlas method (current from questionnaires are subjected to median values of several responses given U.S. dollars). For cost indicators ex- numerous rounds of verification, lead- under the assumptions of the standardized pressed as a percentage of income ing to revisions or expansions of the case. per capita, 2011 gross national in- information collected. come (GNI) in U.S. dollars is used as the denominator. GNI data were Finally, the methodology assumes that a not available from the World Bank The Doing Business methodology offers business has full information on what is for Afghanistan, Australia, The several advantages. It is transparent, us- required and does not waste time when Bahamas, Bahrain, Barbados, Brunei ing factual information about what laws Darussalam, Cyprus, Djibouti, completing procedures. In practice, and regulations say and allowing multiple Guyana, the Islamic Republic of interactions with local respondents to Iran, Kuwait, Malta, New Zealand, clarify potential misinterpretations of BOX 20.1 SUBNATIONAL DOING Oman, Puerto Rico (territory of the BUSINESS INDICATORS United States), Sudan, Suriname, questions. Having representative sam- the Syrian Arab Republic, Timor- ples of respondents is not an issue; Doing This year Doing Business com- Leste, West Bank and Gaza, and the Business is not a statistical survey, and the pleted subnational studies for Republic of Yemen. In these cases Indonesia, Kenya, Mexico, Russia texts of the relevant laws and regulations GDP or GNP per capita data and and the United Arab Emirates. Each are collected and answers checked for growth rates from the International of these countries had already asked Monetary Fund’s World Economic accuracy. The methodology is inexpen- to have subnational data in the past, Outlook database and the Economist sive and easily replicable, so data can be and this year Doing Business updated Intelligence Unit were used. collected in a large sample of economies. the indicators, measured improve- ments over time and expanded geo- Region and income group Because standard assumptions are used Doing Business uses the World graphic coverage to additional cities in the data collection, comparisons and or added additional indicators. Doing Bank regional and income group benchmarks are valid across economies. Business also published regional classifications, available at http:// Finally, the data not only highlight the studies for the Arab world, the East data.worldbank.org/about/country- African Community and member classifications. The World Bank does extent of specific regulatory obstacles states of the Organization for the not assign regional classifications to business but also identify their source to high-income economies. For the Harmonization of Business Law in and point to what might be reformed. Africa (OHADA). purpose of the Doing Business report, The subnational studies point to high-income OECD economies are LIMITS TO WHAT IS MEASURED differences in business regulation and assigned the “regional” classification its implementation—as well as in the OECD high income. Figures and tables The Doing Business methodology has 5 presenting regional averages include pace of regulatory reform—across limitations that should be considered cities in the same economy. For sev- economies from all income groups when interpreting the data. First, the eral economies subnational studies (low, lower middle, upper middle and are now periodically updated to mea- high income). collected data refer to businesses in the economy’s largest business city (which sure change over time or to expand Population geographic coverage to additional cit- Doing Business 2013 reports mid- in some economies differs from the ies. This year that is the case for all the year 2011 population statistics as capital) and may not be representative of subnational studies published. published in World Development regulation in other parts of the economy. Indicators 2012. 108 DOING BUSINESS 2013 CHANGES IN WHAT Doing Business publishes 9,620 indicators After a study of laws, regulations and IS MEASURED each year. To create these indicators, the publicly available information on busi- The ranking methodology for paying taxes team measures more than 57,000 data ness entry, a detailed list of procedures is was updated this year. The threshold for points, each of which is made available developed, along with the time and cost of the total tax rate introduced last year for on the Doing Business website. Historical complying with each procedure under nor- the purpose of calculating the ranking on data for each indicator and economy are mal circumstances and the paid-in mini- the ease of paying taxes was updated. All available on the website, beginning with mum capital requirement. Subsequently, economies with a total tax rate below the the first year the indicator or economy local incorporation lawyers, notaries and threshold (which is calculated and ad- was included in the report. To provide a government officials complete and verify justed on a yearly basis) receive the same comparable time series for research, the the data. ranking on the total tax rate indicator. The data set is back-calculated to adjust for threshold is not based on any economic Information is also collected on the changes in methodology and any revi- theory of an “optimal tax rate” that mini- sequence in which procedures are to sions in data due to corrections. The web- mizes distortions or maximizes efficiency be completed and whether procedures site also makes available all original data in the tax system of an economy overall. may be carried out simultaneously. It is sets used for background papers. The Instead, it is mainly empirical in nature, set assumed that any required information correction rate between Doing Business is readily available and that the entrepre- at the lower end of the distribution of tax 2012 and Doing Business 2013 is 8.6%.2 neur will pay no bribes. If answers by local rates levied on medium-size enterprises in the manufacturing sector as observed experts differ, inquiries continue until the through the paying taxes indicators. This STARTING A BUSINESS data are reconciled. reduces the bias in the indicators toward Doing Business records all procedures To make the data comparable across economies that do not need to levy sig- officially required, or commonly done economies, several assumptions about nificant taxes on companies like the Doing in practice, for an entrepreneur to start the business and the procedures are used. Business standardized case study com- up and formally operate an industrial pany because they raise public revenue in or commercial business, as well as the Assumptions about the business other ways—for example, through taxes time and cost to complete them and the The business: on foreign companies, through taxes on sectors other than manufacturing or from paid-in minimum capital requirement • Is a limited liability company (or its natural resources (all of which are outside (figure 20.1). These procedures include legal equivalent). If there is more than the scope of the methodology). Giving obtaining all necessary licenses and one type of limited liability company in the same ranking to all economies whose permits and completing any required the economy, the limited liability form total tax rate is below the threshold avoids notifications, verifications or inscriptions most popular among domestic firms is awarding economies in the scoring for for the company and employees with chosen. Information on the most popu- having an unusually low total tax rate, of- relevant authorities. The ranking on the lar form is obtained from incorporation ten for reasons unrelated to government ease of starting a business is the simple lawyers or the statistical office. policies toward enterprises. For example, average of the percentile rankings on its • Operates in the economy’s largest economies that are very small or that are component indicators (figure 20.2). business city. rich in natural resources do not need to levy broad-based taxes. FIGURE 20.1 What are the time, cost, paid-in minimum capital and number of procedures to get a local limited liability company up and running? DATA CHALLENGES AND REVISIONS Cost (% of income per capita) Most laws and regulations underlying Formal operation the Doing Business data are available on the Doing Business website at http:/ / Paid-in Number of $ www.doingbusiness.org. All the sample minimum procedures capital questionnaires and the details underlying the indicators are also published on the website. Questions on the methodology and challenges to data can be submitted Entrepreneur Time (days) through the website’s “Ask a Question” Preregistration Registration, Postregistration incorporation function at http://www.doingbusiness.org. DATA NOTES 109 FIGURE 20.2 Starting a business: getting a offices or at different counters are counted counted. Similarly, if a company must local limited liability company up as separate procedures. If founders have open a bank account before registering and running to visit the same office several times for for sales tax or value added tax, this Rankings are based on 4 indicators different sequential procedures, each is transaction is included as a procedure. counted separately. The founders are as- Shortcuts are counted only if they fulfill 4 Preregistration, As % of income registration and per capita, no sumed to complete all procedures them- criteria: they are legal, they are available postregistration bribes included (in calendar days) selves, without middlemen, facilitators, to the general public, they are used by accountants or lawyers, unless the use of the majority of companies, and avoiding such a third party is mandated by law. If them causes substantial delays. 25% 25% Time Cost the services of professionals are required, procedures conducted by such profession- Only procedures required of all busi- 25% 25% Procedures Paid-in als on behalf of the company are counted nesses are covered. Industry-specific minimum separately. Each electronic procedure is procedures are excluded. For example, capital counted separately. If 2 procedures can be procedures to comply with environmental Procedure is Funds deposited in a completed through the same website but regulations are included only when they completed when bank or with a notary final document before registration, as % require separate filings, they are counted apply to all businesses conducting gen- is received of income per capita as 2 procedures. eral commercial or industrial activities. Procedures that the company undergoes Both pre- and postincorporation proce- • Is 100% domestically owned and has 5 to connect to electricity, water, gas and dures that are officially required for an owners, none of whom is a legal entity. waste disposal services are not included. entrepreneur to formally operate a busi- • Has start-up capital of 10 times income ness are recorded (table 20.3). per capita, paid in cash. Time • Performs general industrial or commer- Procedures required for official cor- Time is recorded in calendar days. The cial activities, such as the production respondence or transactions with public measure captures the median duration or sale to the public of products or ser- agencies are also included. For example, that incorporation lawyers indicate is vices. The business does not perform if a company seal or stamp is required necessary in practice to complete a foreign trade activities and does not on official documents, such as tax dec- procedure with minimum follow-up with handle products subject to a special tax larations, obtaining the seal or stamp is government agencies and no extra pay- regime, for example, liquor or tobacco. ments. It is assumed that the minimum It is not using heavily polluting produc- TABLE 20.3 What do the starting a business time required for each procedure is 1 tion processes. indicators measure? day. Although procedures may take • Leases the commercial plant and offic- Procedures to legally start and operate a company place simultaneously, they cannot start (number) es and is not a proprietor of real estate. on the same day (that is, simultaneous Preregistration (for example, name verification or • Does not qualify for investment incen- reservation, notarization) procedures start on consecutive days). A tives or any special benefits. Registration in the economy’s largest business procedure is considered completed once city the company has received the final docu- • Has at least 10 and up to 50 employees Postregistration (for example, social security ment, such as the company registration 1 month after the commencement of registration, company seal) operations, all of them nationals. Time required to complete each procedure certificate or tax number. If a procedure (calendar days) can be accelerated for an additional cost, • Has a turnover of at least 100 times Does not include time spent gathering the fastest procedure is chosen if that op- income per capita. information tion is more beneficial to the economy’s • Has a company deed 10 pages long. Each procedure starts on a separate day ranking. It is assumed that the entrepre- Procedure completed once final document is Procedures received neur does not waste time and commits A procedure is defined as any interaction of No prior contact with officials to completing each remaining procedure the company founders with external par- Cost required to complete each procedure without delay. The time that the entrepre- (% of income per capita) ties (for example, government agencies, neur spends on gathering information is Official costs only, no bribes lawyers, auditors or notaries). Interactions ignored. It is assumed that the entrepre- No professional fees unless services required between company founders or company by law neur is aware of all entry requirements officers and employees are not counted as Paid-in minimum capital (% of income per capita) and their sequence from the beginning procedures. Procedures that must be com- Funds deposited in a bank or with a notary but has had no prior contact with any of before registration (or within 3 months) pleted in the same building but in different the officials. 110 DOING BUSINESS 2013 Cost therefore 1,250 Turkish liras, or 7.2% of FIGURE 20.4 Dealing with construction income per capita. permits: building a warehouse Cost is recorded as a percentage of the Rankings are based on 3 indicators economy’s income per capita. It includes The data details on starting a business can all official fees and fees for legal or pro- be found for each economy at http://www Days to build a As % of income fessional services if such services are warehouse in per capita, no required by law. Fees for purchasing and .doingbusiness.org by selecting the economy main city bribes included legalizing company books are included if in the drop-down list. This methodology was developed in Djankov and others (2002) and 33.3% 33.3% these transactions are required by law. The Time Cost company law, the commercial code and is adopted here with minor changes. specific regulations and fee schedules are 33.3% used as sources for calculating costs. In the DEALING WITH Procedures absence of fee schedules, a government CONSTRUCTION PERMITS officer’s estimate is taken as an official Doing Business records all procedures Procedure is completed when final document is source. In the absence of a government of- received; construction permits, inspections and ficer’s estimate, estimates of incorporation required for a business in the construc- utility connections included lawyers are used. If several incorporation tion industry to build a warehouse (figure lawyers provide different estimates, the 20.3). These procedures include submit- Information is collected from experts in median reported value is applied. In all ting all relevant project-specific docu- construction licensing, including archi- cases the cost excludes bribes. ments (for example, building plans and tects, construction lawyers, construction site maps) to the authorities; obtaining all Paid-in minimum capital firms, utility service providers and public necessary clearances, licenses, permits officials who deal with building regula- The paid-in minimum capital requirement and certificates; completing all required tions, including approvals and inspections. reflects the amount that the entrepreneur notifications; and receiving all necessary To make the data comparable across needs to deposit in a bank or with a notary inspections. Doing Business also records economies, several assumptions about before registration and up to 3 months fol- procedures for obtaining connections for the business, the warehouse project and lowing incorporation and is recorded as a water, sewerage and a fixed landline.3 the utility connections are used. percentage of the economy’s income per Procedures necessary to register the capita. The amount is typically specified Assumptions about the property so that it can be used as col- in the commercial code or the company construction company lateral or transferred to another entity are law. Many economies require minimum The business (BuildCo): also counted. The survey divides the pro- capital but allow businesses to pay only a cess of building a warehouse into distinct • Is a limited liability company. part of it before registration, with the rest to be paid after the first year of operation. procedures and calculates the time and • Operates in the economy’s largest busi- In Turkey in June 2012, for example, the cost of completing each procedure. The ness city. minimum capital requirement was 5,000 ranking on the ease of dealing with con- • Is 100% domestically and privately Turkish liras, of which one-fourth needed struction permits is the simple average of owned. to be paid before registration. The paid-in the percentile rankings on its component • Has 5 owners, none of whom is a legal minimum capital recorded for Turkey is indicators (figure 20.4). entity. • Is fully licensed and insured to carry out construction projects, such as building FIGURE 20.3 What are the time, cost and number of procedures to comply with formalities to warehouses. build a warehouse? • Has 60 builders and other employees, Cost all of them nationals with the technical (% of income per capita) expertise and professional experience Completed warehouse necessary to obtain construction per- mits and approvals. Number of • Has at least 1 employee who is a li- procedures censed architect and registered with the local association of architects. A business in • Has paid all taxes and taken out all the construction industry necessary insurance applicable to its Time (days) Preconstruction Construction Postconstruction and utilities general business activity (for example, DATA NOTES 111 accidental insurance for construction • Does not require water for fire pro- TABLE 20.4 What do the dealing with workers and third-person liability). tection reasons; a fire extinguishing construction permits system (dry system) will be used in- indicators measure? • Owns the land on which the warehouse stead. If a wet fire protection system Procedures to legally build a warehouse (number) is built. is required by law, it is assumed that Submitting all relevant documents and obtaining all necessary clearances, licenses, permits and Assumptions about the warehouse the water demand specified below certificates The warehouse: also covers the water needed for fire Completing all required notifications and receiv- protection. ing all necessary inspections • Will be used for general storage ac- Obtaining utility connections for water, sewerage tivities, such as storage of books or • Has an average water use of 662 liters and a land telephone line stationery. The warehouse will not be (175 gallons) a day and an average Registering the warehouse after its completion used for any goods requiring special wastewater flow of 568 liters (150 gal- (if required for use as collateral or for transfer of the warehouse) conditions, such as food, chemicals or lons) a day. Time required to complete each procedure pharmaceuticals. • Has a peak water use of 1,325 liters (350 (calendar days) • Has 2 stories, both above ground, gallons) a day and a peak wastewater Does not include time spent gathering information with a total surface of approximately flow of 1,136 liters (300 gallons) a day. Each procedure starts on a separate day 1,300.6 square meters (14,000 square • Will have a constant level of water de- Procedure completed once final document is feet). Each floor is 3 meters (9 feet, 10 mand and wastewater flow throughout received inches) high. the year. No prior contact with officials • Has road access and is located in the The telephone connection: Cost required to complete each procedure (% of income per capita) periurban area of the economy’s larg- • Is 10 meters (32 feet, 10 inches) from Official costs only, no bribes est business city (that is, on the fringes the main telephone network. of the city but still within its official • Is a fixed telephone landline. limits). (that is, simultaneous procedures start • Is not located in a special economic Procedures on consecutive days). If a procedure can or industrial zone. The zoning require- A procedure is any interaction of the be accelerated legally for an additional ments for warehouses are met by company’s employees or managers with cost, the fastest procedure is chosen. It building in an area where similar ware- external parties, including government is assumed that BuildCo does not waste houses can be found. agencies, notaries, the land registry, the time and commits to completing each • Is located on a land plot of 929 square cadastre, utility companies, public and remaining procedure without delay. The meters (10,000 square feet) that is private inspectors and technical experts time that BuildCo spends on gathering 100% owned by BuildCo and is ac- apart from in-house architects and en- information is ignored. It is assumed curately registered in the cadastre and gineers. Interactions between company that BuildCo is aware of all building re- land registry. employees, such as development of the quirements and their sequence from the • Is a new construction (there was no warehouse plans and inspections con- beginning. previous construction on the land). ducted by employees, are not counted as procedures. Procedures that the company Cost • Has complete architectural and tech- undergoes to connect to water, sewerage Cost is recorded as a percentage of the nical plans prepared by a licensed and telephone services are included. All economy’s income per capita. Only official architect. procedures that are legally or in practice costs are recorded. All the fees associated • Will include all technical equipment with completing the procedures to legally required for building a warehouse are required to make the warehouse fully build a warehouse are recorded, including counted, even if they may be avoided in operational. those associated with obtaining land use exceptional cases (table 20.4). • Will take 30 weeks to construct (ex- approvals and preconstruction design cluding all delays due to administrative Time clearances; receiving inspections before, and regulatory requirements). Time is recorded in calendar days. The during and after construction; getting measure captures the median duration utility connections; and registering the Assumptions about that local experts indicate is necessary warehouse property. Nonrecurring taxes the utility connections to complete a procedure in practice. It is required for the completion of the ware- The water and sewerage connection: assumed that the minimum time required house project are also recorded. The build- • Is 10 meters (32 feet, 10 inches) from for each procedure is 1 day. Although ing code, information from local experts the existing water source and sewer procedures may take place simultane- and specific regulations and fee schedules tap. ously, they cannot start on the same day are used as sources for costs. If several 112 DOING BUSINESS 2013 local partners provide different estimates, FIGURE 20.5 Doing Business measures the connection process at the level of distribution utilities the median reported value is used. The data details on dealing with construction permits can be found for each economy at http://www.doingbusiness.org by selecting the economy in the drop-down list. Generation Transmission GETTING ELECTRICITY Doing Business records all procedures Distribution required for a business to obtain a New connections permanent electricity connection and Network operation and maintenance supply for a standardized warehouse. Metering and billing These procedures include applications Customer and contracts with electricity utilities, all necessary inspections and clearances from the utility and other agencies and • Is not located in a special economic or • Is a 3-phase, 4-wire Y, 140-kilovolt- the external and final connection works. investment zone; that is, the electricity ampere (kVA) (subscribed capacity) The survey divides the process of getting connection is not eligible for subsidiza- connection. an electricity connection into distinct tion or faster service under a special • Is 150 meters long. The connection is to procedures and calculates the time and investment promotion regime. If sever- either the low-voltage or the medium- cost of completing each procedure (figure al options for location are available, the voltage distribution network and either 20.5). The ranking on the ease of getting warehouse is located where electricity overhead or underground, whichever electricity is the simple average of the is most easily available. is more common in the economy and percentile rankings on its component • Has road access. The connection works in the area where the warehouse is indicators (figure 20.6). involve the crossing of a road (for ex- located. The length of any connection cavation, overhead lines and the like), in the customer’s private domain is Data are collected from the electric- ity distribution utility, then completed and but they are all carried out on public negligible. verified by electricity regulatory agencies land; that is, there is no crossing onto • Involves the installation of only one and independent professionals such as another owner’s private property. electricity meter. The monthly elec- electrical engineers, electrical contrac- • Is located in an area with no physical tricity consumption will be 0.07 tors and construction companies. The constraints. For example, the property gigawatt-hour (GWh). The internal electricity distribution utility surveyed is is not near a railway. electrical wiring has already been the one serving the area (or areas) where • Is used for storage of refrigerated goods. completed. warehouses are located. If there is a choice • Is a new construction (that is, there of distribution utilities, the one serving the was no previous construction on the largest number of customers is selected. FIGURE 20.6 Getting electricity: obtaining an land where it is located). It is being electricity connection To make the data comparable across connected to electricity for the first Rankings are based on 3 indicators economies, several assumptions about time. the warehouse and the electricity con- • Has 2 stories, both above ground, with Days to obtain As % of income an electricity per capita, no nection are used. a total surface area of approximately connection in bribes included 1,300.6 square meters (14,000 square main city Assumptions about feet). The plot of land on which it is 33.3% 33.3% the warehouse built is 929 square meters (10,000 Time Cost The warehouse: square feet). • Is owned by a local entrepreneur. 33.3% Assumptions about the Procedures • Is located in the economy’s largest electricity connection business city. The electricity connection: • Is located within the city’s official limits Steps to file an application, prepare a design, • Is a permanent one. complete works, obtain approvals, go and in an area where other warehouses through inspections, install a meter and are located (a nonresidential area). sign a supply contract DATA NOTES 113 Procedures than 50% of the time the utility has the as a function of the customer’s estimated A procedure is defined as any interaction material) and those followed in practice consumption. of the company’s employees or its main for connecting a warehouse to electricity are counted. Doing Business does not record the full electrician or electrical engineer (that is, amount of the security deposit. If the the one who may have done the internal Time deposit is based on the customer’s wiring) with external parties such as the Time is recorded in calendar days. The actual consumption, this basis is the electricity distribution utility, electricity measure captures the median duration one assumed in the case study. Rather supply utilities, government agencies, that the electricity utility and experts than the full amount of the security de- electrical contractors and electrical indicate is necessary in practice, rather posit, Doing Business records the present firms. Interactions between company than required by law, to complete a pro- value of the losses in interest earnings employees and steps related to the inter- cedure with minimum follow-up and no experienced by the customer because nal electrical wiring, such as the design extra payments. It is also assumed that the utility holds the security deposit over and execution of the internal electrical the minimum time required for each pro- a prolonged period, in most cases until installation plans, are not counted as cedure is 1 day. Although procedures may the end of the contract (assumed to be procedures. Procedures that must be take place simultaneously, they cannot after 5 years). In cases where the security completed with the same utility but with start on the same day (that is, simulta- deposit is used to cover the first monthly different departments are counted as neous procedures start on consecutive consumption bills, it is not recorded. To separate procedures (table 20.5). days). It is assumed that the company calculate the present value of the lost The company’s employees are assumed does not waste time and commits to com- interest earnings, the end-2011 lending to complete all procedures themselves pleting each remaining procedure without rates from the International Monetary unless the use of a third party is mandated Fund’s International Financial Statistics are delay. The time that the company spends (for example, if only an electrician regis- used. In cases where the security deposit on gathering information is ignored. It is tered with the utility is allowed to submit is returned with interest, the difference assumed that the company is aware of all an application). If the company can, but between the lending rate and the interest electricity connection requirements and is not required to, request the services of paid by the utility is used to calculate the their sequence from the beginning. professionals (such as a private firm rath- present value. er than the utility for the external works), Cost these procedures are recorded if they are In some economies the security deposit Cost is recorded as a percentage of the commonly done. For all procedures, only can be put up in the form of a bond: the economy’s income per capita. Costs are the most likely cases (for example, more company can obtain from a bank or an recorded exclusive of value added tax. insurance company a guarantee issued All the fees and costs associated with on the assets it holds with that financial TABLE 20.5 What do the getting electricity completing the procedures to connect institution. In contrast to the scenario indicators measure? a warehouse to electricity are recorded, in which the customer pays the deposit Procedures to obtain an electricity connection including those related to obtaining (number) in cash to the utility, in this scenario the clearances from government agencies, company does not lose ownership control Submitting all relevant documents and obtaining all necessary clearances and permits applying for the connection, receiving in- over the full amount and can continue Completing all required notifications and spections of both the site and the internal using it. In return the company will pay receiving all necessary inspections wiring, purchasing material, getting the the bank a commission for obtaining Obtaining external installation works and actual connection works and paying a possibly purchasing material for these works the bond. The commission charged may security deposit. Information from local vary depending on the credit standing of Concluding any necessary supply contract and obtaining final supply experts and specific regulations and fee the company. The best possible credit Time required to complete each procedure schedules are used as sources for costs. standing and thus the lowest possible (calendar days) If several local partners provide different commission are assumed. Where a bond Is at least 1 calendar day estimates, the median reported value is can be put up, the value recorded for the Each procedure starts on a separate day used. In all cases the cost excludes bribes. deposit is the annual commission times Does not include time spent gathering information the 5 years assumed to be the length of Security deposit Reflects the time spent in practice, with little the contract. If both options exist, the follow-up and no prior contact with officials Utilities require security deposits as a cheaper alternative is recorded. Cost required to complete each procedure guarantee against the possible failure of (% of income per capita) customers to pay their consumption bills. In Honduras in June 2012 a customer Official costs only, no bribes For this reason the security deposit for a requesting a 140-kVA electricity connec- Value added tax excluded new customer is most often calculated tion would have had to put up a security 114 DOING BUSINESS 2013 deposit of 126,894 Honduran lempiras (L) percentile rankings on its component FIGURE 20.8 Registering property: transfer of in cash or check, and the deposit would indicators (figure 20.8). property between 2 local companies have been returned only at the end of Every procedure required by law or neces- Rankings are based on 3 indicators the contract. The customer could instead have invested this money at the prevailing sary in practice is included, whether it is Days to transfer As % of property lending rate of 18.56%. Over the 5 years the responsibility of the seller or the buyer property in value, no bribes or must be completed by a third party main city included of the contract this would imply a present value of lost interest earnings of L 72,719. on their behalf. Local property lawyers, 33.3% 33.3% In contrast, if the customer chose to notaries and property registries provide Time Cost settle the deposit with a bank guarantee information on procedures as well as the at an annual rate of 2.5%, the amount lost time and cost to complete each of them. 33.3% over the 5 years would be just L 15,862. Procedures To make the data comparable across The data details on getting electricity can economies, several assumptions about be found for each economy at http://www the parties to the transaction, the prop- Steps to check encumbrances, obtain clearance certificates, prepare deed and transfer title so .doingbusiness.org. erty and the procedures are used. that the property can be occupied, sold or used as collateral Assumptions about the parties REGISTERING PROPERTY The parties (buyer and seller): • Is registered in the land registry or Doing Business records the full sequence cadastre, or both, and is free of title • Are limited liability companies. of procedures necessary for a business disputes. (buyer) to purchase a property from • Are located in the periurban area of the economy’s largest business city. • Is located in a periurban commercial another business (seller) and to transfer zone, and no rezoning is required. the property title to the buyer’s name so • Are 100% domestically and privately • Consists of land and a building. The that the buyer can use the property for owned. land area is 557.4 square meters expanding its business, use the prop- • Have 50 employees each, all of whom (6,000 square feet). A 2-story ware- erty as collateral in taking new loans or, are nationals. house of 929 square meters (10,000 if necessary, sell the property to another • Perform general commercial activities. square feet) is located on the land. The business. The process starts with obtain- warehouse is 10 years old, is in good ing the necessary documents, such as a Assumptions about the property condition and complies with all safety copy of the seller’s title if necessary, and The property: standards, building codes and other le- conducting due diligence if required. The gal requirements. The property of land • Has a value of 50 times income per transaction is considered complete when and building will be transferred in its capita. The sale price equals the value. it is opposable to third parties and when entirety. the buyer can use the property, use it as • Is fully owned by the seller. • Will not be subject to renovations collateral for a bank loan or resell it (figure • Has no mortgages attached and has or additional building following the 20.7). The ranking on the ease of register- been under the same ownership for the purchase. ing property is the simple average of the past 10 years. • Has no trees, natural water sources, natural reserves or historical monu- FIGURE 20.7 What are the time, cost and number of procedures required to transfer property ments of any kind. between 2 local companies? • Will not be used for special purposes, and no special permits, such as for Cost (% of property value) residential use, industrial plants, waste Buyer can use storage or certain types of agricultural the property, resell it or use activities, are required. it as collateral • Has no occupants (legal or illegal), and Procedures no other party holds a legal interest in it. Land & 2-story warehouse Seller with property registered and no Procedures title disputes Time A procedure is defined as any interaction Preregistration Registration Postregistration (days) of the buyer or the seller, their agents (if DATA NOTES 115 TABLE 20.6 What do the registering an additional cost, the fastest legal proce- FIGURE 20.10 Getting credit: collateral rules property indicators measure? dure available and used by the majority of and credit information Procedures to legally transfer title on immovable property owners is chosen. If procedures Rankings are based on 2 indicators property (number) can be undertaken simultaneously, it Preregistration procedures (for example, checking for liens, notarizing sales agreement, paying is assumed that they are. It is assumed property transfer taxes) that the parties involved are aware of all 100% Sum of depth of credit Registration procedures in the economy’s largest requirements and their sequence from information index (0–6) business city and the beginning. Time spent on gathering strength of legal rights Postregistration procedures (for example, filing index (0–10) title with municipality) information is not considered. Time required to complete each procedure (calendar days) Cost Scope, quality and accessibility of credit information through public and private Does not include time spent gathering Cost is recorded as a percentage of the credit registries and bureaus information property value, assumed to be equivalent Each procedure starts on a separate day Regulations on nonpossessory security to 50 times income per capita. Only of- interests in movable property Procedure completed once final document is received ficial costs required by law are recorded, Note: Private bureau coverage and public registry coverage No prior contact with officials including fees, transfer taxes, stamp du- are measured but do not count for the rankings. Cost required to complete each procedure ties and any other payment to the prop- (% of of property value) erty registry, notaries, public agencies Official costs only, no bribes features that facilitate lending exist within or lawyers. Other taxes, such as capital the applicable collateral and bankruptcy No value added or capital gains taxes included gains tax or value added tax, are excluded laws. The second set measures the cov- from the cost measure. Both costs borne erage, scope and accessibility of credit by the buyer and those borne by the an agent is legally or in practice required) information available through public seller are included. If cost estimates dif- or the property with external parties, credit registries and private credit bureaus including government agencies, inspec- fer among sources, the median reported (figure 20.9). The ranking on the ease of tors, notaries and lawyers. Interactions value is used. getting credit is based on the percentile between company officers and employ- rankings on the sum of its component The data details on registering property can ees are not considered. All procedures indicators: the depth of credit informa- be found for each economy at http://www that are legally or in practice required for tion index and the strength of legal rights .doingbusiness.org by selecting the economy registering property are recorded, even if index (figure 20.10). in the drop-down list. they may be avoided in exceptional cases (table 20.6). It is assumed that the buyer LEGAL RIGHTS follows the fastest legal option available GETTING CREDIT The data on the legal rights of borrowers and used by the majority of property own- Doing Business measures the legal rights and lenders are gathered through a survey ers. Although the buyer may use lawyers of borrowers and lenders with respect of financial lawyers and verified through or other professionals where necessary to secured transactions through one set analysis of laws and regulations as well as in the registration process, it is assumed of indicators and the sharing of credit public sources of information on collateral that the buyer does not employ an outside information through another. The first set and bankruptcy laws. Survey responses facilitator in the registration process unless of indicators measures whether certain are verified through several rounds of legally or in practice required to do so. Time FIGURE 20.9 Do lenders have credit information on entrepreneurs seeking credit? Is the law Time is recorded in calendar days. The favorable to borrowers and lenders using movable assets as collateral? measure captures the median duration that property lawyers, notaries or registry Credit inform ation officials indicate is necessary to complete a procedure. It is assumed that the mini- Potential Can movable assets be mum time required for each procedure is 1 borrower used as collateral? day. Although procedures may take place Movable Collateral Credit registries and Lender credit bureaus simultaneously, they cannot start on the asset registry same day. It is assumed that the buyer What types can be Can lenders access does not waste time and commits to com- used as collateral? credit information on borrowers? pleting each remaining procedure without delay. If a procedure can be accelerated for 116 DOING BUSINESS 2013 follow-up communication with respon- The case scenarios also involve assump- • A general description of debts and dents as well as by contacting third parties tions. In case A, as collateral for the loan, obligations is permitted in the col- and consulting public sources. The survey ABC grants BizBank a nonpossessory se- lateral agreement and in registration data are confirmed through teleconference curity interest in one category of movable documents; all types of debts and ob- calls or on-site visits in all economies. assets, for example, its machinery or its ligations can be secured between the inventory. ABC wants to keep both pos- parties, and the collateral agreement Strength of legal rights index session and ownership of the collateral. can include a maximum amount for The strength of legal rights index measures In economies where the law does not which the assets are encumbered. the degree to which collateral and bank- allow nonpossessory security interests in • A collateral registry or registration ruptcy laws protect the rights of borrowers movable property, ABC and BizBank use institution for security interests over a fiduciary transfer-of-title arrangement movable property is in operation, uni- and lenders and thus facilitate lending (or a similar substitute for nonpossessory fied geographically and by asset type, (table 20.7). Two case scenarios, case security interests). The strength of legal with an electronic database indexed by A and case B, are used to determine the rights index does not cover functional debtors’ names. scope of the secured transactions system. equivalents to security over movable as- • Secured creditors are paid first (for The case scenarios involve a secured bor- sets (for example, leasing or reservation example, before general tax claims and rower, the company ABC, and a secured of title). employee claims) when a debtor de- lender, BizBank. In some economies the faults outside an insolvency procedure. legal framework for secured transactions In case B, ABC grants BizBank a busi- • Secured creditors are paid first (for will allow only case A or case B to apply ness charge, enterprise charge, floating example, before general tax claims and (not both). Both cases examine the same charge or any charge that gives BizBank employee claims) when a business is set of legal provisions relating to the use of a security interest over ABC’s combined liquidated. movable collateral. movable assets (or as much of ABC’s movable assets as possible). ABC keeps • Secured creditors either are not subject Several assumptions about the secured to an automatic stay or moratorium ownership and possession of the assets. on enforcement procedures when a borrower and lender are used: The strength of legal rights index includes debtor enters a court-supervised • ABC is a domestically incorporated, reorganization procedure, or the 8 aspects related to legal rights in col- limited liability company. law provides secured creditors with lateral law and 2 aspects in bankruptcy • The company has up to 100 employees. law. A score of 1 is assigned for each of grounds for relief from an automatic • ABC has its headquarters and only the following features of the laws: stay or moratorium (for example, if the base of operations in the economy’s movable property is in danger) or sets • Any business may use movable assets largest business city. a time limit for the automatic stay. as collateral while keeping posses- sion of the assets, and any financial • The law allows parties to agree in a col- • Both ABC and BizBank are 100% do- institution may accept such assets as lateral agreement that the lender may mestically owned. collateral. enforce its security right out of court. TABLE 20.7 What do the getting credit • The law allows a business to grant a The index ranges from 0 to 10, with higher indicators measure? nonpossessory security right in a single scores indicating that collateral and bank- Strength of legal rights index (0–10) category of movable assets (such as ruptcy laws are better designed to expand Protection of rights of borrowers and lenders accounts receivable or inventory), access to credit. through collateral laws without requiring a specific description Protection of secured creditors’ rights through of the collateral. bankruptcy laws CREDIT INFORMATION Depth of credit information index (0–6) • The law allows a business to grant The data on credit information sharing are Scope and accessibility of credit information a nonpossessory security right in built in 2 stages. First, banking supervision distributed by public credit registries and private substantially all its movable assets, credit bureaus authorities and public information sources Public credit registry coverage (% of adults) without requiring a specific description are surveyed to confirm the presence of a Number of individuals and firms listed in a public of the collateral. public credit registry or private credit bu- credit registry as percentage of adult population • A security right may extend to future or reau. Second, when applicable, a detailed Private credit bureau coverage (% of adults) after-acquired assets and may extend survey on the public credit registry’s or Number of individuals and firms listed in largest automatically to the products, pro- private credit bureau’s structure, laws and private credit bureau as percentage of adult population ceeds or replacements of the original associated rules is administered to the assets. entity itself. Survey responses are verified DATA NOTES 117 through several rounds of follow-up com- adult population, the score on the depth A private credit bureau is defined as a munication with respondents as well as of credit information index is 0. private firm or nonprofit organization that by contacting third parties and consult- maintains a database on the creditworthi- In Lithuania, for example, both a public ness of borrowers (individuals or firms) in ing public sources. The survey data are credit registry and a private credit bureau the financial system and facilitates the confirmed through teleconference calls or operate. Both distribute positive and exchange of credit information among on-site visits in all economies. negative information (a score of 1). Both creditors. Credit investigative bureaus Depth of credit information index distribute data on firms and individu- and credit reporting firms that do not als (a score of 1). Both distribute more directly facilitate information exchange The depth of credit information index than 2 years of historical data (a score among banks and other financial institu- measures rules and practices affecting of 1). Although the public credit registry tions are not considered. If no private the coverage, scope and accessibility does not distribute data from retailers or bureau operates, the coverage value is 0. of credit information available through utilities, the private credit bureau does either a public credit registry or a private do so (a score of 1). Although the public The data details on getting credit can be credit bureau. A score of 1 is assigned for credit registry has a threshold of 1,000 found for each economy at http://www each of the following 6 features of the litai, the private credit bureau distributes .doingbusiness.org by selecting the economy public credit registry or private credit data on loans of any value (a score of 1). in the drop-down list. This methodology was bureau (or both): Borrowers have the right to access their developed in Djankov, McLiesh and Shleifer • Data on both firms and individuals are data in both the public credit registry (2007) and is adopted here with minor distributed. and the private credit bureau (a score of changes. • Both positive credit information (for 1). Summing across the indicators gives example, outstanding loan amounts Lithuania a total score of 6. PROTECTING INVESTORS and pattern of on-time repayments) Public credit registry coverage Doing Business measures the strength of and negative information (for ex- The public credit registry coverage indica- minority shareholder protections against ample, late payments, and number and tor reports the number of individuals and directors’ misuse of corporate assets for amount of defaults and bankruptcies) firms listed in a public credit registry with personal gain. The indicators distinguish are distributed. information on their borrowing history 3 dimensions of investor protections: • Data from retailers and utility compa- from the past 5 years. The number is ex- transparency of related-party transac- nies as well as financial institutions are pressed as a percentage of the adult pop- tions (extent of disclosure index), liability distributed. ulation (the population age 15 and above for self-dealing (extent of director liability • More than 2 years of historical data in 2011 according to the World Bank’s index) and shareholders’ ability to sue of- are distributed. Credit registries and World Development Indicators). A public ficers and directors for misconduct (ease bureaus that erase data on defaults as credit registry is defined as a database of shareholder suits index) (figure 20.11). soon as they are repaid obtain a score managed by the public sector, usually by The data come from a survey of corporate of 0 for this indicator. the central bank or the superintendent of and securities lawyers and are based on banks, that collects information on the securities regulations, company laws, • Data on loan amounts below 1% of creditworthiness of borrowers (individu- civil procedure codes and court rules of income per capita are distributed. Note als or firms) in the financial system and evidence. The ranking on the strength of that a credit registry or bureau must facilitates the exchange of credit informa- investor protection index is the simple have a minimum coverage of 1% of the tion among banks and other regulated average of the percentile rankings on its adult population to score a 1 on this financial institutions. If no public registry component indicators (figure 20.12). indicator. operates, the coverage value is 0. • By law, borrowers have the right to To make the data comparable across access their data in the largest credit Private credit bureau coverage economies, several assumptions about registry or bureau in the economy. The private credit bureau coverage indi- the business and the transaction are used. cator reports the number of individuals The index ranges from 0 to 6, with higher and firms listed by a private credit bureau Assumptions about the business values indicating the availability of more with information on their borrowing his- The business (Buyer): credit information, from either a public tory from the past 5 years. The number • Is a publicly traded corporation listed credit registry or a private credit bureau, is expressed as a percentage of the adult on the economy’s most important to facilitate lending decisions. If the credit population (the population age 15 and stock exchange. If the number of pub- registry or bureau is not operational or above in 2011 according to the World licly traded companies listed on that has a coverage of less than 0.1% of the Bank’s World Development Indicators). exchange is less than 10, or if there is 118 DOING BUSINESS 2013 FIGURE 20.11 How well are minority shareholders protected against self-dealing in related-party • Whether immediate disclosure of the transactions? transaction to the public, the regula- tor or the shareholders is required.4 A Extent of disclosure Mr. James Disclosure and approval Lawsuit score of 0 is assigned if no disclosure requirements 60% ownership, sits 90% ownership, sits is required; 1 if disclosure on the terms Extent of director liability on board of directors on board of directors of the transaction is required but not Ability to sue directors for damages Company A Company B on Mr. James’s conflict of interest; 2 if Ease of shareholder suits (buyer) (seller) disclosure on both the terms and Mr. Access by shareholders to documents plus other Minority Transaction James’s conflict of interest is required. evidence for trial involving shareholders conflict of interest • Whether disclosure in the annual re- port is required. A score of 0 is assigned if no disclosure on the transaction is no stock exchange in the economy, it • Mr. James also owns 90% of Seller, a required; 1 if disclosure on the terms is assumed that Buyer is a large private company that operates a chain of retail of the transaction is required but not company with multiple shareholders. hardware stores. Seller recently closed on Mr. James’s conflict of interest; 2 if • Has a board of directors and a chief ex- a large number of its stores. disclosure on both the terms and Mr. ecutive officer (CEO) who may legally • Mr. James proposes that Buyer pur- James’s conflict of interest is required. act on behalf of Buyer where permitted, chase Seller’s unused fleet of trucks • Whether disclosure by Mr. James to even if this is not specifically required to expand Buyer’s distribution of its the board of directors or the supervi- by law. products, a proposal to which Buyer sory board is required. A score of 0 is • Has a supervisory board (applicable to agrees. The price is equal to 10% of assigned if no disclosure is required; 1 if economies with 2-tier board systems) Buyer’s assets and is higher than the a general disclosure of the existence of of which 60% of the shareholder- market value. a conflict of interest is required without elected members have been appointed • The proposed transaction is part of the any specifics; 2 if full disclosure of all by Mr. James. company’s ordinary course of business material facts relating to Mr. James’s • Is a manufacturing company. and is not outside the authority of the interest in the Buyer-Seller transaction company. is required. • Has its own distribution network. • Buyer enters into the transaction. All • Whether it is required that an external Assumptions about the required approvals are obtained, and all body, for example, an external auditor, transaction required disclosures made (that is, the review the transaction before it takes • Mr. James is Buyer’s controlling share- transaction is not fraudulent). place. A score of 0 is assigned if no; 1 holder and a member of Buyer’s board if yes. • The transaction causes damages to of directors. He owns 60% of Buyer Buyer. Shareholders sue Mr. James and The index ranges from 0 to 10, with higher and elected 2 directors to Buyer’s the other parties that approved the values indicating greater disclosure. In 5-member board. transaction. Poland, for example, the board of direc- tors must approve the transaction and FIGURE 20.12 Protecting investors: minority Extent of disclosure index Mr. James is not allowed to vote (a score shareholder rights in related- The extent of disclosure index has 5 com- party transactions of 2). Buyer is required to disclose imme- ponents (table 20.8): diately all information affecting the stock Rankings are based on 3 indicators • Which corporate body can provide price, including the conflict of interest (a legally sufficient approval for the score of 2). In its annual report Buyer must Requirements on Liability of CEO and transaction. A score of 0 is assigned approval and disclosure board of directors in a also disclose the terms of the transaction of related-party related-party if it is the CEO or the managing direc- and Mr. James’s ownership in Buyer and transactions transaction tor alone; 1 if the board of directors, Seller (a score of 2). Before the transac- 33.3% 33.3% Extent of Extent of the supervisory board or shareholders tion Mr. James must disclose his conflict disclosure director must vote and Mr. James is permitted index liability index of interest to the other directors, but he is to vote; 2 if the board of directors or not required to provide specific informa- 33.3% the supervisory board must vote and Ease of shareholder tion about it (a score of 1). Poland does suits index Mr. James is not permitted to vote; 3 if not require an external body to review the shareholders must vote and Mr. James transaction (a score of 0). Adding these is not permitted to vote. numbers gives Poland a score of 7 on the Type of evidence that can be collected before and during the trial extent of disclosure index. DATA NOTES 119 TABLE 20.8 What do the protecting assigned if rescission is unavailable a score of 4 on the extent of director investors indicators measure? or is available only in case of fraud or liability index. Extent of disclosure index (0–10) bad faith; 1 if rescission is available Who can approve related-party transactions when the transaction is oppressive or Ease of shareholder suits index Disclosure requirements in case of related-party prejudicial to the other shareholders; The ease of shareholder suits index has 6 transactions 2 if rescission is available when the components: Extent of director liability index (0–10) transaction is unfair or entails a conflict • What range of documents is available Ability of shareholders to hold interested parties of interest. and members of the approving body liable in to the shareholder plaintiff from the case of related-party transactions • Whether Mr. James pays damages for defendant and witnesses during trial. Available legal remedies (damages, repayment of the harm caused to the company upon A score of 1 is assigned for each of the profits, fines and imprisonment) a successful claim by the shareholder following types of documents avail- Ability of shareholders to sue directly or deriva- tively plaintiff. A score of 0 is assigned if no; able: information that the defendant Ease of shareholder suits index (0–10) 1 if yes. has indicated he intends to rely on for Direct access to internal documents of the com- • Whether Mr. James repays profits his defense; information that directly pany and use of a government inspector without made from the transaction upon a proves specific facts in the plaintiff ’s filing suit in court successful claim by the shareholder claim; any information relevant to the Documents and information available during trial plaintiff. A score of 0 is assigned if no; subject matter of the claim; and any Strength of investor protection index (0–10) 1 if yes. information that may lead to the dis- Simple average of the extent of disclosure, extent of director liability and ease of shareholder suits • Whether both fines and imprisonment covery of relevant information. indices can be applied against Mr. James. A • Whether the plaintiff can directly ex- score of 0 is assigned if no; 1 if yes. amine the defendant and witnesses Extent of director liability index • Whether shareholder plaintiffs are during trial. A score of 0 is assigned if The extent of director liability index has 7 able to sue directly or derivatively for no; 1 if yes, with prior approval of the components:5 the damage the transaction causes to questions by the judge; 2 if yes, without the company. A score of 0 is assigned prior approval. • Whether a shareholder plaintiff is able to hold Mr. James liable for the damage if suits are unavailable or are available • Whether the plaintiff can obtain cat- the Buyer-Seller transaction causes to only for shareholders holding more egories of relevant documents from the company. A score of 0 is assigned than 10% of the company’s share the defendant without identifying each if Mr. James cannot be held liable or capital; 1 if direct or derivative suits are document specifically. A score of 0 is can be held liable only for fraud or bad available for shareholders holding 10% assigned if no; 1 if yes. faith; 1 if Mr. James can be held liable or less of share capital. • Whether shareholders owning 10% or only if he influenced the approval of less of the company’s share capital can The index ranges from 0 to 10, with the transaction or was negligent; 2 if request that a government inspector higher values indicating greater liability Mr. James can be held liable when the investigate the Buyer-Seller transaction of directors. Assuming that the prejudi- transaction is unfair or prejudicial to without filing suit in court. A score of 0 cial transaction was duly approved and the other shareholders. is assigned if no; 1 if yes. disclosed, in order to hold Mr. James • Whether a shareholder plaintiff is able liable in Panama, for example, a plaintiff • Whether shareholders owning 10% to hold the approving body (the CEO, must prove that Mr. James influenced or less of the company’s share capital the members of the board of directors, the approving body or acted negligently have the right to inspect the transac- or members of the supervisory board) (a score of 1). To hold the other direc- tion documents before filing suit. A liable for the damage the transaction tors liable, a plaintiff must prove that score of 0 is assigned if no; 1 if yes. causes to the company. A score of 0 is they acted negligently (a score of 1). • Whether the standard of proof for civil assigned if the approving body cannot The prejudicial transaction cannot be suits is lower than that for a criminal be held liable or can be held liable only voided (a score of 0). If Mr. James is case. A score of 0 is assigned if no; 1 for fraud or bad faith; 1 if the approving found liable, he must pay damages if yes. body can be held liable for negligence; 2 (a score of 1) but he is not required to if the approving body can be held liable disgorge his profits (a score of 0). Mr. The index ranges from 0 to 10, with when the transaction is unfair or preju- James cannot be fined and imprisoned higher values indicating greater powers dicial to the other shareholders. (a score of 0). Direct or derivative suits of shareholders to challenge the transac- • Whether a court can void the trans- are available for shareholders holding tion. In Greece, for example, the plaintiff action upon a successful claim by a 10% or less of share capital (a score of can access documents that the defendant shareholder plaintiff. A score of 0 is 1). Adding these numbers gives Panama intends to rely on for his defense and that 120 DOING BUSINESS 2013 directly prove facts in the plaintiff ’s claim FIGURE 20.13 What are the time, total tax rate and number of payments necessary for a local (a score of 2). The plaintiff can examine medium-size company to pay all taxes? the defendant and witnesses during trial, Total tax rate Time though only with prior approval of the questions by the court (a score of 1). The plaintiff must specifically identify the To prepare, file and pay documents being sought (for example, value added or sales tax, Hours per year the Buyer-Seller purchase agreement of % of profit profit tax and labor before all taxes taxes and contributions July 15, 2006) and cannot just request categories (for example, all documents related to the transaction) (a score of 0). A shareholder holding 5% of Buyer’s shares can request that a government Number of payments inspector review suspected mismanage- (per year) ment by Mr. James and the CEO without filing suit in court (a score of 1). Any transfer taxes, dividend tax, capital gains natural resources (all of which are outside shareholder can inspect the transaction tax, financial transactions tax, waste the scope of the methodology). documents before deciding whether to collection taxes, vehicle and road taxes, sue (a score of 1). The standard of proof and any other small taxes or fees (figure Doing Business measures all taxes and con- for civil suits is the same as that for a 20.13). tributions that are government mandated criminal case (a score of 0). Adding these (at any level—federal, state or local) and numbers gives Greece a score of 5 on the The ranking on the ease of paying taxes that apply to the standardized business ease of shareholder suits index. is the simple average of the percentile and have an impact in its financial state- rankings on its component indicators, ments. In doing so, Doing Business goes Strength of investor with a threshold being applied to one of beyond the traditional definition of a tax. protection index the component indicators, the total tax As defined for the purposes of govern- The strength of investor protection index rate (figure 20.14). The threshold is de- ment national accounts, taxes include is the average of the extent of disclosure fined as the highest total tax rate among only compulsory, unrequited payments index, the extent of director liability index the top 15% of economies in the ranking to general government. Doing Business and the ease of shareholder suits index. on the total tax rate. It is calculated and The index ranges from 0 to 10, with departs from this definition because it adjusted on a yearly basis. This year’s higher values indicating more investor measures imposed charges that affect threshold is 25.7%. All economies with a protection. business accounts, not government ac- total tax rate below this threshold receive counts. One main difference relates to the same score as the economy at the The data details on protecting investors can labor contributions. The Doing Business threshold. The threshold is not based be found for each economy at http://www measure includes government-mandated on any economic theory of an “optimal .doingbusiness.org by selecting the econo- contributions paid by the employer to a tax rate” that minimizes distortions or my in the drop-down list. This methodology was developed in Djankov, La Porta and maximizes efficiency in the tax system of an economy overall. Instead, it is mainly FIGURE 20.14 Paying taxes: tax compliance others (2008). empirical in nature, set at the lower end for a local manufacturing company of the distribution of tax rates levied on PAYING TAXES Rankings are based on 3 indicators medium-size enterprises in the manu- Doing Business records the taxes and facturing sector as observed through the Number of hours per year Firm tax liability as % mandatory contributions that a medium- paying taxes indicators. This reduces the to prepare, file returns of profits before all and pay taxes taxes borne size company must pay in a given year as bias in the indicators toward economies well as measures of the administrative that do not need to levy significant taxes 33.3% 33.3% burden of paying taxes and contributions. on companies like the Doing Business Time Total The project was developed and imple- standardized case study company be- tax rate mented in cooperation with PwC.6 Taxes cause they raise public revenue in other and contributions measured include the ways—for example, through taxes on 33.3% Payments profit or corporate income tax, social foreign companies, through taxes on contributions and labor taxes paid by sectors other than manufacturing or from the employer, property taxes, property Number of tax payments per year DATA NOTES 121 requited private pension fund or workers’ liability company in the economy, the • Has a turnover of 1,050 times income insurance fund. The indicator includes, limited liability form most common per capita. for example, Australia’s compulsory among domestic firms is chosen. The • Makes a loss in the first year of superannuation guarantee and workers’ most common form is reported by incor- operation. compensation insurance. For the purpose poration lawyers or the statistical office. • Has a gross margin (pretax) of 20% of calculating the total tax rate (defined • Started operations on January 1, 2010. (that is, sales are 120% of the cost of below), only taxes borne are included. For At that time the company purchased goods sold). example, value added taxes are generally all the assets shown in its balance • Distributes 50% of its net profits as excluded (provided they are not irrecov- sheet and hired all its workers. dividends to the owners at the end of erable) because they do not affect the • Operates in the economy’s largest the second year. accounting profits of the business—that business city. • Sells one of its plots of land at a profit is, they are not reflected in the income statement. They are, however, included for • Is 100% domestically owned and has at the beginning of the second year. the purpose of the compliance measures 5 owners, all of whom are natural • Has annual fuel costs for its trucks (time and payments), as they add to the persons. equal to twice income per capita. burden of complying with the tax system. • At the end of 2010, has a start-up capi- • Is subject to a series of detailed assump- tal of 102 times income per capita. tions on expenses and transactions to Doing Business uses a case scenario to • Performs general industrial or commer- further standardize the case. All financial measure the taxes and contributions cial activities. Specifically, it produces statement variables are proportional to paid by a standardized business and the ceramic flowerpots and sells them at 2005 income per capita. For example, complexity of an economy’s tax compli- retail. It does not participate in foreign the owner who is also a manager spends ance system. This case scenario uses a trade (no import or export) and does not 10% of income per capita on traveling set of financial statements and assump- handle products subject to a special tax for the company (20% of this owner’s tions about transactions made over the regime, for example, liquor or tobacco. expenses are purely private, 20% are course of the year. In each economy tax • At the beginning of 2011, owns 2 plots for entertaining customers and 60% for experts from a number of different firms of land, 1 building, machinery, office business travel). (in many economies these include PwC) compute the taxes and mandatory con- equipment, computers and 1 truck and Assumptions about the taxes and tributions due in their jurisdiction based leases 1 truck. contributions on the standardized case study facts. • Does not qualify for investment incen- • All the taxes and contributions record- Information is also compiled on the fre- tives or any benefits apart from those ed are those paid in the second year of quency of filing and payments as well as related to the age or size of the company. operation (calendar year 2011). A tax time taken to comply with tax laws in an • Has 60 employees—4 managers, 8 or contribution is considered distinct if economy. To make the data comparable assistants and 48 workers. All are na- it has a different name or is collected by across economies, several assumptions tionals, and 1 manager is also an owner. a different agency. Taxes and contribu- about the business and the taxes and The company pays for additional medi- tions with the same name and agency, contributions are used. cal insurance for employees (not but charged at different rates depend- The methodology for the paying taxes mandated by any law) as an additional ing on the business, are counted as the indicators has benefited from discussion benefit. In addition, in some economies same tax or contribution. with members of the International Tax reimbursable business travel and client • The number of times the company Dialogue and other stakeholders, which entertainment expenses are consid- pays taxes and contributions in a year led to a refinement of the survey questions ered fringe benefits. When applicable, is the number of different taxes or on the time to pay taxes, the collection of it is assumed that the company pays contributions multiplied by the fre- additional data on the labor tax wedge for the fringe benefit tax on this expense quency of payment (or withholding) further research and the introduction of a or that the benefit becomes taxable in- for each tax. The frequency of payment threshold applied to the total tax rate for come for the employee. The case study includes advance payments (or with- the purpose of calculating the ranking on assumes no additional salary additions holding) as well as regular payments the ease of paying taxes. for meals, transportation, education (or withholding). or others. Therefore, even when such Assumptions about the business benefits are frequent, they are not Tax payments The business: added to or removed from the taxable The tax payments indicator reflects the • Is a limited liability, taxable company. If gross salaries to arrive at the labor tax total number of taxes and contribu- there is more than one type of limited or contribution calculation. tions paid, the method of payment, the 122 DOING BUSINESS 2013 TABLE 20.9 What do the paying taxes Where 2 or more taxes or contributions by the business in the second year of op- indicators measure? are filed for and paid jointly using the eration, expressed as a share of commer- Tax payments for a manufacturing company in 2011 same form, each of these joint payments cial profit. Doing Business 2013 reports the (number per year adjusted for electronic and joint filing and payment) is counted once. For example, if manda- total tax rate for calendar year 2011. The Total number of taxes and contributions paid, tory health insurance contributions and total amount of taxes borne is the sum of including consumption taxes (value added tax, mandatory pension contributions are filed all the different taxes and contributions sales tax or goods and service tax) for and paid together, only one of these payable after accounting for allowable Method and frequency of filing and payment contributions would be included in the deductions and exemptions. The taxes Time required to comply with 3 major taxes (hours per year) number of payments. withheld (such as personal income tax) Collecting information and computing the tax or collected by the company and remit- payable Time ted to the tax authorities (such as value Completing tax return forms, filing with proper Time is recorded in hours per year. The added tax, sales tax or goods and service agencies indicator measures the time taken to tax) but not borne by the company are Arranging payment or withholding prepare, file and pay 3 major types of excluded. The taxes included can be Preparing separate mandatory tax accounting books, if required taxes and contributions: the corporate divided into 5 categories: profit or cor- Total tax rate (% of profit before all taxes) income tax, value added or sales tax, and porate income tax, social contributions Profit or corporate income tax labor taxes, including payroll taxes and and labor taxes paid by the employer (in Social contributions and labor taxes paid by the social contributions. Preparation time respect of which all mandatory contribu- employer includes the time to collect all information tions are included, even if paid to a private Property and property transfer taxes necessary to compute the tax payable entity such as a requited pension fund), Dividend, capital gains and financial transactions and to calculate the amount payable. If taxes property taxes, turnover taxes and other separate accounting books must be kept taxes (such as municipal fees and vehicle Waste collection, vehicle, road and other taxes for tax purposes—or separate calculations and fuel taxes). made—the time associated with these frequency of payment, the frequency of processes is included. This extra time is in- The total tax rate is designed to provide filing and the number of agencies involved cluded only if the regular accounting work a comprehensive measure of the cost of for this standardized case study company is not enough to fulfill the tax accounting all the taxes a business bears. It differs during the second year of operation (table requirements. Filing time includes the from the statutory tax rate, which merely 20.9). It includes taxes withheld by the time to complete all necessary tax return provides the factor to be applied to the company, such as sales tax, value added forms and file the relevant returns at the tax base. In computing the total tax rate, tax and employee-borne labor taxes. tax authority. Payment time considers the the actual tax payable is divided by com- These taxes are traditionally collected hours needed to make the payment online mercial profit. Data for Norway illustrate or at the tax authorities. Where taxes and (table 20.10). by the company from the consumer or contributions are paid in person, the time employee on behalf of the tax agencies. includes delays while waiting. Commercial profit is essentially net profit Although they do not affect the income before all taxes borne. It differs from the statements of the company, they add to Total tax rate conventional profit before tax, reported in the administrative burden of complying The total tax rate measures the amount of financial statements. In computing profit with the tax system and so are included taxes and mandatory contributions borne before tax, many of the taxes borne by a in the tax payments measure. The number of payments takes into TABLE 20.10 Computing the total tax rate for Norway account electronic filing. Where full elec- Statutory Actual tax Commercial Statutory rate tax base payable profit* Total tax rate tronic filing and payment is allowed and r b a=r xb c t = a/c Type of tax (tax base) NKr NKr NKr it is used by the majority of medium-size Corporate income tax 28.0% 20,612,719 5,771,561 23,651,183 24.4% businesses, the tax is counted as paid (taxable income) once a year even if filings and payments Social security contributions 14.1% 26,684,645 3,762,535 23,651,183 15.9% (taxable wages) are more frequent. For payments made Fuel tax (fuel price) NKr 4 per 74,247 liters 297,707 23,651,183 1.3% through third parties, such as tax on liter interest paid by a financial institution or Total 9,831,803 41.6% fuel tax paid by a fuel distributor, only one * Profit before all taxes borne. payment is included even if payments are Note: NKr is Norwegian kroner. Commercial profit is assumed to be 59.4 times income per capita. Source: Doing Business database. more frequent. DATA NOTES 123 firm are deductible. In computing com- across the border are also recorded. For FIGURE 20.16 Trading across borders: mercial profit, these taxes are not deduct- exporting goods, procedures range from exporting and importing by sea transport ible. Commercial profit therefore presents packing the goods into the container at Rankings are based on 3 indicators a clear picture of the actual profit of a the warehouse to their departure from the business before any of the taxes it bears port of exit. For importing goods, proce- Document preparation, in the course of the fiscal year. dures range from the vessel’s arrival at the customs clearance and port of entry to the cargo’s delivery at the technical control, port All documents required by and terminal handling, Commercial profit is computed as sales warehouse. For landlocked economies, customs and other inland transport and minus cost of goods sold, minus gross agencies handling these include procedures at the inland salaries, minus administrative expenses, 33.3% 33.3% border post, since the port is located in Documents Time to minus other expenses, minus provisions, the transit economy. Payment is made to export export and and import import plus capital gains (from the property sale) by letter of credit, and the time, cost and minus interest expense, plus interest documents required for the issuance or 33.3% Cost to export income and minus commercial deprecia- advising of a letter of credit are taken and import tion. To compute the commercial depreci- into account (figure 20.15). The ranking ation, a straight-line depreciation method on the ease of trading across borders is US$ per 20-foot container, is applied, with the following rates: 0% for the simple average of the percentile rank- no bribes or tariffs included the land, 5% for the building, 10% for the ings on its component indicators (figure machinery, 33% for the computers, 20% 20.16). • Does not require refrigeration or any for the office equipment, 20% for the truck and 10% for business development Local freight forwarders, shipping lines, other special environment. expenses. Commercial profit amounts to customs brokers, port officials and • Does not require any special phytosan- 59.4 times income per capita. banks provide information on required itary or environmental safety standards documents and cost as well as the time other than accepted international The methodology for calculating the total to complete each procedure. To make standards. tax rate is broadly consistent with the the data comparable across economies, Total Tax Contribution framework devel- several assumptions about the business • Is one of the economy’s leading export oped by PwC and the calculation within and the traded goods are used. or import products. this framework for taxes borne. But while the work undertaken by PwC is usually Assumptions about Assumptions about the business based on data received from the largest the traded goods The business: companies in the economy, Doing Business The traded product travels in a dry-cargo, • Has at least 60 employees. focuses on a case study for a standardized 20-foot, full container load. It weighs 10 tons and is valued at $20,000. The • Is located in the economy’s largest medium-size company. product: business city. The data details on paying taxes can be • Is not hazardous nor does it include • Is a private, limited liability com- found for each economy at http://www military items. pany. It does not operate in an export .doingbusiness.org by selecting the economy in the drop-down list. This methodology was developed in Djankov, Ganser and others FIGURE 20.15 How much time, how many documents and what cost to export and import by sea transport? (2010). TRADING ACROSS BORDERS Time Time Doing Business measures the time and cost (excluding tariffs) associated with Cost Cost To export To import exporting and importing a standardized Documents Documents Full, 20-foot container cargo of goods by sea transport. The time and cost necessary to complete every Import official procedure for exporting and im- porting the goods are recorded; however, the time and cost for sea transport are Export not included. All documents needed by Port and terminal Customs and Inland the trader to export or import the goods handling border agencies transport 124 DOING BUSINESS 2013 TABLE 20.11 What do the trading across it is completed. If a procedure can be ac- FIGURE 20.17 What are the time, cost and borders indicators measure? celerated for an additional cost and is number of procedures to resolve a commercial dispute Documents required to export and import (number) available to all trading companies, the through the courts? Bank documents fastest legal procedure is chosen. Fast- Customs clearance documents track procedures applying only to firms located in an export processing zone, or Court Port and terminal handling documents Transport documents only to certain accredited firms under Time Time required to export and import (days) authorized economic operator programs, Cost Obtaining, filling out and submitting all the are not taken into account because they Number of documents are not available to all trading companies. procedures Inland transport and handling Sea transport time is not included. It is Customs clearance and inspections Company A Commercial dispute Company B assumed that neither the exporter nor (seller & plaintiff) (buyer & defendant) Port and terminal handling the importer wastes time and that each Does not include sea transport time commits to completing each remaining Filing of Trial & court case judgment Enforcement Cost required to export and import procedure without delay. Procedures that (US$ per container) can be completed in parallel are measured All documentation as simultaneous. But it is assumed that Inland transport and handling document preparation, inland transport, Customs clearance and inspections evolution of a commercial sale dispute customs and other clearance, and port Port and terminal handling before local courts. The data are collected and terminal handling require a minimum Official costs only, no bribes through study of the codes of civil proce- time of 1 day each and cannot take place simultaneously. The waiting time be- dure and other court regulations as well processing zone or an industrial estate tween procedures—for example, during as surveys completed by local litigation with special export or import privileges. unloading of the cargo—is included in the lawyers and by judges (figure 20.17). The • Is 100% domestically owned. measure. ranking on the ease of enforcing contracts is the simple average of the percentile • Exports more than 10% of its sales. Cost rankings on its component indicators Documents Cost measures the fees levied on a (figure 20.18). 20-foot container in U.S. dollars. All the All documents required per shipment fees associated with completing the The name of the relevant court in each to export and import the goods are re- procedures to export or import the goods economy—the court in the largest corded (table 20.11). It is assumed that are taken into account. These include business city with jurisdiction over com- a new contract is drafted per shipment costs for documents, administrative fees mercial cases worth 200% of income and that the contract has already been for customs clearance and inspections, per capita—is published at http:/ /www agreed upon and executed by both par- customs broker fees, port-related charges .doingbusiness.org /ExploreTopics/ ties. Documents required for clearance by and inland transport costs. The cost does EnforcingContracts/. relevant agencies—including government not include customs tariffs and duties or ministries, customs, port authorities and costs related to sea transport. Only of- other control agencies—are taken into ac- FIGURE 20.18 Enforcing contracts: resolving ficial costs are recorded. a commercial dispute through count. Since payment is by letter of credit, the courts all documents required by banks for the The data details on trading across borders can Rankings are based on 3 indicators issuance or securing of a letter of credit be found for each economy at http://www are also taken into account. Documents .doingbusiness.org by selecting the economy Days to resolve Attorney, court and that are requested at the time of clear- in the drop-down list. This methodology was commercial sale dispute enforcement costs as ance but that are valid for a year or longer developed in Djankov, Freund and Pham through the courts % of claim value and do not require renewal per shipment (2010) and is adopted here with minor (for example, an annual tax clearance 33.3% 33.3% changes. Time Cost certificate) are not included. Time ENFORCING CONTRACTS 33.3% Procedures The time for exporting and importing Indicators on enforcing contracts mea- is recorded in calendar days. The time sure the efficiency of the judicial system in calculation for a procedure starts from resolving a commercial dispute. The data Steps to file claim, obtain judgment and enforce it the moment it is initiated and runs until are built by following the step-by-step DATA NOTES 125 Assumptions about the case • Seller takes all required steps for number for economies that have special- • The value of the claim equals 200% of prompt enforcement of the judgment. ized commercial courts, and 1 procedure the economy’s income per capita. The money is successfully collected for economies that allow electronic filing through a public sale of Buyer’s of the initial complaint in court cases. • The dispute concerns a lawful trans- movable assets (for example, office Some procedural steps that are part of action between 2 businesses (Seller equipment and vehicles). others are not counted in the total num- and Buyer), located in the economy’s ber of procedures. largest business city. Seller sells goods Procedures worth 200% of the economy’s income The list of procedural steps compiled for Time per capita to Buyer. After Seller deliv- each economy traces the chronology of Time is recorded in calendar days, ers the goods to Buyer, Buyer refuses a commercial dispute before the relevant counted from the moment the plaintiff to pay for the goods on the grounds court. A procedure is defined as any decides to file the lawsuit in court until that the delivered goods were not of interaction, required by law or commonly payment. This includes both the days adequate quality. used in practice, between the parties or when actions take place and the waiting • Seller (the plaintiff) sues Buyer (the between them and the judge or court periods between. The average duration defendant) to recover the amount officer. Other procedural steps, internal of different stages of dispute resolution under the sales agreement (that is, to the court or between the parties and is recorded: the completion of service of 200% of the economy’s income per their counsel, may be counted as well. process (time to file and serve the case), capita). Buyer opposes Seller’s claim, Procedural steps include steps to file and the issuance of judgment (time for the saying that the quality of the goods is serve the case, steps to assign the case to trial and obtaining the judgment) and the not adequate. The claim is disputed on a judge, steps for trial and judgment and moment of payment (time for enforce- steps necessary to enforce the judgment ment of the judgment). the merits. The court cannot decide the case on the basis of documentary (table 20.12). Cost evidence or legal title alone. The survey allows respondents to record Cost is recorded as a percentage of the • A court in the economy’s largest claim, assumed to be equivalent to 200% procedures that exist in civil law but not business city with jurisdiction over common law jurisdictions and vice versa. of income per capita. No bribes are re- commercial cases worth 200% of in- For example, in civil law jurisdictions the corded. Three types of costs are recorded: come per capita decides the dispute. judge can appoint an independent expert, court costs, enforcement costs and average • Seller attaches Buyer’s movable assets while in common law jurisdictions each attorney fees. (for example, office equipment and party submits a list of expert witnesses Court costs include all court costs that vehicles) before obtaining a judgment to the court. To indicate overall efficiency, Seller (plaintiff) must advance to the because Seller fears that Buyer may 1 procedure is subtracted from the total court, regardless of the final cost to Seller. become insolvent. Enforcement costs are all costs that Seller • An expert opinion is given on the TABLE 20.12 What do the enforcing (plaintiff) must advance to enforce the quality of the delivered goods. If it is contracts indicators measure? judgment through a public sale of Buyer’s standard practice in the economy for Procedures to enforce a contract through the courts (number) movable assets, regardless of the final cost each party to call its own expert wit- to Seller. Average attorney fees are the Any interaction between the parties in a ness, the parties each call one expert commercial dispute, or between them and fees that Seller (plaintiff) must advance to witness. If it is standard practice for the the judge or court officer a local attorney to represent Seller in the judge to appoint an independent ex- Steps to file and serve the case standardized case. pert, the judge does so. In this case the Steps for trial and judgment judge does not allow opposing expert Steps to enforce the judgment The data details on enforcing contracts can Time required to complete procedures be found for each economy at http://www testimony. (calendar days) .doingbusiness.org by selecting the economy • The judgment is 100% in favor of Seller: Time to file and serve the case in the drop-down list. This methodology was the judge decides that the goods are of Time for trial and obtaining judgment developed in Djankov and others (2003) and adequate quality and that Buyer must Time to enforce the judgment is adopted here with minor changes. pay the agreed price. Cost required to complete procedures (% of claim) • Buyer does not appeal the judgment. No bribes Seller decides to start enforcing the Average attorney fees RESOLVING INSOLVENCY judgment as soon as the time allocated Court costs Doing Business studies the time, cost by law for appeal expires. Enforcement costs and outcome of insolvency proceedings 126 DOING BUSINESS 2013 involving domestic entities. The name of FIGURE 20.20 Resolving insolvency: time, cost value of the hotel business and represents and outcome of the insolvency 74% of the company’s total debt. The this indicator set was changed from closing a proceedings against a local business to resolving insolvency to more ac- company other 26% of its debt is held by unse- curately reflect the content of the indicators. cured creditors (suppliers, employees, tax Rankings are based on 1 indicator The indicators did not change in content or authorities). scope. The data are derived from ques- Recovery rate is a function of time, cost and other factors such as lending rate and the likelihood of the The company has too many creditors to tionnaire responses by local insolvency company continuing to operate negotiate an informal out-of-court work- practitioners and verified through a study out. The following options are available: a of laws and regulations as well as public judicial procedure aimed at the rehabilita- information on bankruptcy systems tion or reorganization of the company to (figure 20.19). The ranking on the ease 100% permit its continued operation; a judicial of resolving insolvency is based on the Recovery rate procedure aimed at the liquidation or recovery rate (figure 20.20). winding-up of the company; or a debt enforcement or foreclosure procedure To make the data comparable across against the company, enforced either in economies, several assumptions about court (or through another government Note: Time and cost do not count separately for the rankings. the business and the case are used. authority) or out of court (for example, by appointing a receiver). Assumptions about the business • Has 201 employees and 50 suppliers, The business: each of which is owed money for the last Assumptions about the parties • Is a limited liability company. delivery. The bank wants to recover as much as • Has a 10-year loan agreement with a possible of its loan, as quickly and cheap- • Operates in the economy’s largest domestic bank secured by a universal ly as possible. The unsecured creditors business city. business charge (for example, a float- will do everything permitted under the • Is 100% domestically owned, with the applicable laws to avoid a piecemeal sale ing charge) in economies where such founder, who is also the chairman of of the assets. The majority shareholder collateral is recognized or by the hotel the supervisory board, owning 51% (no wants to keep the company operating property. If the laws of the economy do other shareholder holds more than 5% and under its control. Management not specifically provide for a universal of shares). business charge but contracts com- wants to keep the company operating • Has downtown real estate, where it monly use some other provision to that and preserve its employees’ jobs. All the runs a hotel, as its major asset. The effect, this provision is specified in the parties are local entities or citizens; no hotel is valued at 100 times income foreign parties are involved. loan agreement. per capita or $200,000, whichever is • Has observed the payment schedule Time larger. and all other conditions of the loan up Time for creditors to recover their credit is • Has a professional general manager. to now. recorded in calendar years (table 20.13). • Has a mortgage, with the value of the The period of time measured by Doing FIGURE 20.19 What are the time, cost and mortgage principal being exactly equal Business is from the company’s default outcome of the insolvency to the market value of the hotel. until the payment of some or all of the proceedings against a local money owed to the bank. Potential delay company? Assumptions about the case tactics by the parties, such as the filing of The business is experiencing liquidity dilatory appeals or requests for extension, Court problems. The company’s loss in 2011 re- are taken into consideration. duced its net worth to a negative figure. Outcome It is January 1, 2012. There is no cash to Cost Time Cost pay the bank interest or principal in full, The cost of the proceedings is recorded as Recovery rate due the next day, January 2. The busi- a percentage of the value of the debtor’s ness will therefore default on its loan. estate. The cost is calculated on the basis Secured creditor Insolvent Unsecured Management believes that losses will be of questionnaire responses and includes (bank) company creditors court fees and government levies; fees of incurred in 2012 and 2013 as well. insolvency administrators, auctioneers, Secured Other The amount outstanding under the loan assessors and lawyers; and all other fees loan claims agreement is exactly equal to the market and costs. DATA NOTES 127 TABLE 20.13 What do the resolving furniture is taken to be 20%. The furniture employee representatives, and experts insolvency indicators measure? is assumed to account for a quarter of the from the ILO, the OECD, civil society and Time required to recover debt (years) total value of assets. The recovery rate is the private sector—to review the employ- Measured in calendar years the present value of the remaining pro- ing workers methodology and explore fu- Appeals and requests for extension are included ceeds, based on end-2011 lending rates ture areas of research.7 A full report with Cost required to recover debt (% of debtor’s estate) from the International Monetary Fund’s the conclusions of the consultative group Measured as percentage of estate value International Financial Statistics, supple- is available at http://www.doingbusiness Court fees mented with data from central banks and .org/methodology/employing-workers. Fees of insolvency administrators the Economist Intelligence Unit. Lawyers’ fees This year Doing Business continued Assessors’ and auctioneers’ fees No practice research initiated last year, collecting Other related fees If an economy had zero cases a year additional data on regulations covering Recovery rate for creditors (cents on the dollar) over the past 5 years involving a judicial worker protection. The data will serve Measures the cents on the dollar recovered by reorganization, judicial liquidation or debt as a basis for developing a joint analysis creditors enforcement procedure (foreclosure), the of worker protection by the World Bank Present value of debt recovered economy receives a “no practice” ranking. Group and the ILO and for developing Official costs of the insolvency proceedings are This means that creditors are unlikely to new areas of research in the area of deducted recover their money through a formal worker protection measures. Depreciation of furniture is taken into account legal process (in or out of court). The Outcome for the business (survival or not) affects Doing Business 2013 does not present the maximum value that can be recovered recovery rate for “no practice” economies is zero. rankings of economies on the employ- ing workers indicators or include the Outcome This methodology was developed in Djankov, topic in the aggregate ranking on the Recovery by creditors depends on whether Hart and others (2008) and is adopted here ease of doing business. The report the hotel business emerges from the with minor changes. does present the data on the employing proceedings as a going concern or the workers indicators in an annex. Detailed company’s assets are sold piecemeal. If data collected on labor regulations are EMPLOYING WORKERS the business keeps operating, no value is available on the Doing Business website Doing Business measures flexibility in the (http://www.doingbusiness.org). lost and the bank can satisfy its claim in regulation of employment, specifically full, or recover 100 cents on the dollar. If as it affects the hiring and redundancy The data on employing workers are the assets are sold piecemeal, the maxi- of workers and the rigidity of working based on a detailed survey of employ- mum amount that can be recovered will hours. Over the period from 2007 to 2011 ment regulations that is completed not exceed 70% of the bank’s claim, which improvements were made to align the by local lawyers and public officials. translates into 70 cents on the dollar. methodology for the employing workers Employment laws and regulations as Recovery rate indicators with the letter and spirit of the well as secondary sources are reviewed ILO conventions. Only 4 of the 188 ILO to ensure accuracy. To make the data The recovery rate is recorded as cents on conventions cover areas measured by comparable across economies, several the dollar recouped by creditors through Doing Business: employee termination, assumptions about the worker and the reorganization, liquidation or debt en- weekend work, holiday with pay and business are used. forcement (foreclosure) proceedings. The night work. The Doing Business methodol- calculation takes into account the out- Assumptions about the worker ogy is fully consistent with these 4 con- come: whether the business emerges from ventions. The ILO conventions covering The worker: the proceedings as a going concern or the areas related to the employing workers • Earns a salary plus benefits equal to the assets are sold piecemeal. Then the costs indicators do not include the ILO core economy’s average wage during the of the proceedings are deducted (1 cent labor standards—8 conventions cover- entire period of his employment. for each percentage point of the value of ing the right to collective bargaining, the • Has a pay period that is the most com- the debtor’s estate). Finally, the value lost elimination of forced labor, the abolition as a result of the time the money remains mon for workers in the economy. of child labor and equitable treatment in tied up in insolvency proceedings is taken • Is a lawful citizen who belongs to the employment practices. into account, including the loss of value same race and religion as the majority due to depreciation of the hotel furniture. Between 2009 and 2011 the World Bank of the economy’s population. Consistent with international accounting Group worked with a consultative group— • Resides in the economy’s largest busi- practice, the annual depreciation rate for including labor lawyers, employer and ness city. 128 DOING BUSINESS 2013 • Is not a member of a labor union, un- TABLE 20.14 What do the employing workers indicators measure? less membership is mandatory. Data for Score for country X country X Assumptions about the business Rigidity of employment index (0–100) 45.33 The business: Simple average of the difficulty of hiring, rigidity of hours and difficulty 56 + 10 + 70 of redundancy indices • Is a limited liability company. Difficulty of hiring index (0–100) 56 • Operates in the economy’s largest Fixed-term contracts prohibited for permanent tasks? Yes 1 business city. Maximum duration of fixed-term contracts 6 years 0 • Is 100% domestically owned. Ratio of minimum wage for trainee or first-time employee to value 0.61 0.67 • Operates in the manufacturing sector. added per worker Rigidity of hours index (0–100) 10 • Has 60 employees. Restrictions on night work and weekend work? No 0 • Is subject to collective bargaining Allowed maximum length of the workweek in days and hours, including 5.5 days 0 agreements in economies where such overtime agreements cover more than half the Fifty-hour workweeks permitted for 2 months due to an increase in Yes 0 manufacturing sector and apply even production? to firms not party to them. Paid annual vacation days 22 days 0.5 Difficulty of redundancy index (0–100) 70 • Abides by every law and regulation but does not grant workers more benefits Redundancy allowed as grounds for termination? Yes 0 than mandated by law, regulation or Notification required for termination of a redundant worker or group Yes 2 of workers? (if applicable) collective bargaining Approval required for termination of a redundant worker or group of Yes 3 agreement. workers? Employer obligated to reassign or retrain and to follow priority rules for Yes 2 Rigidity of employment index redundancy and reemployment? The rigidity of employment index is the Redundancy cost (weeks of salary) 23.9 average of 3 subindices: the difficulty of Notice requirements, severance payments and penalties due when 8.66 weeks 23.9 terminating a redundant worker, expressed in weeks of salary +15.22 weeks hiring index, rigidity of hours index and Source: Doing Business database. difficulty of redundancy index. Data and scores for a particular country (country X) are provided as an example (table 20.14). added per worker is 0.75 or more; 0.67 In country X, for example, fixed-term All the subindices have several compo- for a ratio of 0.50 or more but less than contracts are prohibited for permanent nents. And all take values between 0 and 0.75; 0.33 for a ratio of 0.25 or more but tasks (a score of 1), and they can be used 100, with higher values indicating more less than 0.50; and 0 for a ratio of less for a maximum of 6 years (a score of 0). rigid regulation. than 0.25. A score of 0 is also assigned The ratio of the mandated minimum wage if the minimum wage is set by a collec- to the value added per worker is 0.61 (a The difficulty of hiring index measures tive bargaining agreement that applies to score of 0.67). Averaging the 3 values and (i) whether fixed-term contracts are less than half the manufacturing sector scaling the index to 100 gives country X a prohibited for permanent tasks; (ii) the or does not apply to firms not party to it, score of 56. maximum cumulative duration of fixed- or if the minimum wage is set by law but term contracts; and (iii) the ratio of the does not apply to workers who are in their The rigidity of hours index has 5 compo- minimum wage for a trainee or first-time apprentice period. A ratio of 0.251 (and nents: (i) whether there are restrictions employee to the average value added per therefore a score of 0.33) is automatically on night work; (ii) whether there are worker.8 An economy is assigned a score assigned in 4 cases: if there is no mini- restrictions on weekly holiday work; (iii) of 1 if fixed-term contracts are prohibited mum wage; if the law provides a regula- whether the workweek can consist of 5.5 for permanent tasks and a score of 0 if tory mechanism for the minimum wage days or is more than 6 days; (iv) whether they can be used for any task. A score of that is not enforced in practice; if there is the workweek can extend to 50 hours or 1 is assigned if the maximum cumulative no minimum wage set by law but there is more (including overtime) for 2 months duration of fixed-term contracts is less a wage amount that is customarily used a year to respond to a seasonal increase than 3 years; 0.5 if it is 3 years or more as a minimum; or if there is no minimum in production; and (v) whether the aver- but less than 5 years; and 0 if fixed-term wage set by law in the private sector but age paid annual leave for a worker with 1 contracts can last 5 years or more. Finally, there is one in the public sector. year of tenure, a worker with 5 years and a score of 1 is assigned if the ratio of the a worker with 10 years is more than 26 minimum wage to the average value working days or fewer than 15 working DATA NOTES 129 days. For questions (i) and (ii), if restric- the questions do not apply. An answer of a worker with 5 years and a worker with tions other than premiums apply, a score yes to question (iv) gives a score of 2. For 10 years equals 3.5 months of wages of 1 is given. If the only restriction is a every other question, if the answer is yes, (15.22 weeks). No penalty is levied and premium for night work or weekly holiday a score of 1 is assigned; otherwise a score the workers cannot benefit from any type work, a score of 0, 0.33, 0.66 or 1 is given, of 0 is given. Questions (i) and (iv), as the of unemployment protection. Altogether, depending on the quartile in which the most restrictive regulations, have greater the employer pays the equivalent of 23.9 economy’s premium falls. If there are no weight in the construction of the index. weeks of salary to dismiss a worker. restrictions, the economy receives a score of 0. For question (iii) a score of 1 is as- In country X, for example, redundancy The data details on employing workers can is allowed as grounds for termination (a be found for each economy at http://www signed if the legally permitted workweek score of 0). An employer has to notify a .doingbusiness.org. The Doing Business is less than 5.5 days or more than 6 days; third party to terminate a single redun- website provides historical data sets to al- otherwise a score of 0 is assigned. For low comparison of data across years. The question (iv), if the answer is no, a score dant worker (a score of 1) as well as to employing workers methodology was devel- of 1 is assigned; otherwise a score of 0 is terminate a group of 9 redundant workers oped by Botero and others (2004). Doing assigned. For question (v) a score of 0 is (a score of 1), and the approval of a third Business 2013 does not present rankings assigned if the average paid annual leave party is also required in both these cases of economies on the employing workers is between 15 and 21 working days, a score (a score of 3). The law does not mandate indicators. of 0.5 if it is more than 21 but less than 26 any retraining or alternative placement working days and a score of 1 if it is less before termination (a score of 0). There than 15 or more than 26 working days. are priority rules for termination (a score NOTES of 1) and reemployment (a score of 1). 1. The data for paying taxes refer to January– For example, country X does not impose Adding the scores and scaling to 100 December 2011. any restrictions either on night work (a gives a final index of 70. 2. This correction rate reflects changes that score of 0) or on weekly holiday work (a exceed 5% up or down. score of 0), allows 5.5-day workweeks (a Redundancy cost 3. Following the inclusion of getting electric- ity indicators in the ease of doing business score of 0), permits 50-hour workweeks The redundancy cost indicator measures index in Doing Business 2012, additional for 2 months (a score of 0) and requires the cost of advance notice requirements, procedures, time and cost related to average paid annual leave of 22 work- severance payments and penalties due obtaining an electricity connection in the ing days (a score of 0.5). Averaging the when terminating a redundant worker, preconstruction stage were removed from scores and scaling the result to 100 gives expressed in weeks of salary. The average the dealing with construction permits indicators this year to avoid double a final index of 10 for country X. value of notice requirements and sever- counting. ance payments applicable to a worker The difficulty of redundancy index has 4. This question is usually regulated by with 1 year of tenure, a worker with 5 stock exchange or securities laws. Points 8 components: (i) whether redundancy years and a worker with 10 years is used are awarded only to economies with is disallowed as a basis for terminating to assign the score. If the redundancy more than 10 listed firms in their most workers; (ii) whether the employer needs cost adds up to 8 or fewer weeks of sal- important stock exchange. to notify a third party (such as a govern- ary and the workers can benefit from 5. When evaluating the regime of liability ment agency) to terminate 1 redundant unemployment protection, a score of 0 is for company directors for a prejudicial worker; (iii) whether the employer needs related-party transaction, Doing Business assigned, but the actual number of weeks assumes that the transaction was duly to notify a third party to terminate a group is published. If the redundancy cost adds disclosed and approved. Doing Business of 9 redundant workers; (iv) whether the up to 8 or fewer weeks of salary and the does not measure director liability in the employer needs approval from a third workers cannot benefit from any type of event of fraud. party to terminate 1 redundant worker; unemployment protection, a score of 8.1 6. PwC refers to the network of member (v) whether the employer needs approval is assigned, although the actual number firms of PricewaterhouseCoopers from a third party to terminate a group International Limited (PwCIL), or, as the of weeks is published. If the cost adds up context requires, individual member firms of 9 redundant workers; (vi) whether the to more than 8 weeks of salary, the score of the PwC network. Each member firm law requires the employer to reassign is the number of weeks. One month is is a separate legal entity and does not act or retrain a worker before making the recorded as 4 and 1/3 weeks. as agent of PwCIL or any other member worker redundant; (vii) whether priority firm. PwCIL does not provide any services rules apply for redundancies; and (viii) In country X, for example, an employer is to clients. PwCIL is not responsible or liable for the acts or omissions of any of whether priority rules apply for reemploy- required to give an average of 2 months’ its member firms nor can it control the ment. For question (i) an answer of yes notice (8.66 weeks) before a redundancy exercise of their professional judgment for workers of any income level gives a termination, and the average severance or bind them in any way. No member score of 10 and means that the rest of pay for a worker with 1 year of service, firm is responsible or liable for the acts 130 DOING BUSINESS 2013 or omissions of any other member firm nor can it control the exercise of another member firm’s professional judgment or bind another member firm or PwCIL in any way. 7. For the terms of reference and com- position of the consultative group, see World Bank, “Doing Business Employing Workers Indicator Consultative Group,” http://www.doingbusiness.org. 8. The average value added per worker is the ratio of an economy’s GNI per capita to the working-age population as a percent- age of the total population. 131 Ease of doing business and distance to frontier This year’s report presents results for 2 Construction of the ease of doing aggregate measures: the aggregate rank- business index ing on the ease of doing business and the Here is one example of how the ease of distance to frontier measure. The ease of doing business index is constructed. In doing business ranking compares econo- Finland it takes 3 procedures, 14 days and mies with one another, while the distance 4% of property value in fees to register to frontier measure benchmarks econo- a property. On these 3 indicators Finland ranks in the 6th, 16th and 39th percen- mies to the frontier in regulatory practice, tiles. So on average Finland ranks in the measuring the absolute distance to the 20th percentile on the ease of registering best performance on each indicator. Both property. It ranks in the 30th percentile measures can be used for comparisons on starting a business, 28th percentile on over time. When compared across years, getting credit, 24th percentile on paying the distance to frontier measure shows taxes, 13th percentile on enforcing con- how much the regulatory environment tracts, 5th percentile on trading across for local entrepreneurs in each economy borders and so on. Higher rankings has changed over time in absolute terms, indicate simpler regulation and stronger while the ease of doing business ranking protection of property rights. The simple can show only relative change. average of Finland’s percentile rankings on all topics is 21st. When all economies are ordered by their average percentile EASE OF DOING BUSINESS rankings, Finland stands at 11 in the ag- The ease of doing business index ranks gregate ranking on the ease of doing economies from 1 to 185. For each business. economy the ranking is calculated as the simple average of the percentile rankings More complex aggregation methods— such as principal components and un- on each of the 10 topics included in the observed components—yield a ranking index in Doing Business 2013: starting nearly identical to the simple average a business, dealing with construction used by Doing Business.2 Thus Doing permits, getting electricity, registering Business uses the simplest method: property, getting credit, protecting inves- weighting all topics equally and, within tors, paying taxes, trading across borders, each topic, giving equal weight to each of enforcing contracts and resolving insol- the topic components.3 vency. The employing workers indicators If an economy has no laws or regulations are not included in this year’s aggregate covering a specific area—for example, ease of doing business ranking. In addi- insolvency—it receives a “no practice” tion to this year’s ranking, Doing Business mark. Similarly, an economy receives a “no presents a comparable ranking for the practice” or “not possible” mark if regula- previous year, adjusted for any changes tion exists but is never used in practice or in methodology as well as additions of if a competing regulation prohibits such economies or topics.1 practice. Either way, a “no practice” mark 132 DOING BUSINESS 2013 TABLE 21.1 Correlations between economy rankings on Doing Business topics Dealing with construction Registering Protecting Trading across Enforcing Resolving Getting permits property Getting credit investors Paying taxes borders contracts insolvency electricity Starting a business 0.34 0.30 0.44 0.60 0.40 0.40 0.40 0.44 0.28 Dealing with construction 0.24 0.19 0.21 0.41 0.49 0.23 0.36 0.49 permits Registering property 0.37 0.33 0.37 0.29 0.50 0.38 0.26 Getting credit 0.49 0.26 0.38 0.43 0.49 0.22 Protecting investors 0.39 0.36 0.30 0.41 0.22 Paying taxes 0.50 0.33 0.42 0.46 Trading across borders 0.36 0.55 0.58 Enforcing contracts 0.46 0.24 Resolving insolvency 0.32 Source: Doing Business database. puts the economy at the bottom of the Consider the example of Canada. It stands areas of business regulation reform and ranking on the relevant indicator. at 17 in the aggregate ranking on the ease the ability of different government agen- of doing business. Its ranking is 3 on start- cies to deliver tangible results in their area The ease of doing business index is ing a business, and 4 on both resolving of responsibility. limited in scope. It does not account for insolvency and protecting investors. But its an economy’s proximity to large markets, ranking is only 62 on enforcing contracts, Economies that improved the the quality of its infrastructure services 69 on dealing with construction permits most across 3 or more Doing (other than services related to trading and 152 on getting electricity. Business topics in 2011/12 across borders and getting electricity), Doing Business 2013 uses a simple the strength of its financial system, the Figure 1.2 in the executive summary method to calculate which economies security of property from theft and loot- illustrates the degree of variability in improved the most in the ease of doing ing, macroeconomic conditions or the each economy’s performance across the business. First, it selects the economies strength of underlying institutions. different areas of business regulation that in 2011/12 implemented regulatory covered by Doing Business. The figure reforms making it easier to do business Variability of economies’ draws attention to economies with a par- in 3 or more of the 10 topics included in rankings across topics ticularly uneven performance by showing this year’s ease of doing business rank- Each indicator set measures a different the distance between the average of the ing.4 Twenty-three economies meet this aspect of the business regulatory envi- highest 3 topic rankings and the average criterion: Benin, Burundi, Costa Rica, the ronment. The rankings of an economy of the lowest 3 for each of 185 economies Czech Republic, Georgia, Greece, Guinea, can vary, sometimes significantly, across across the 10 topics included in this year’s Kazakhstan, Korea, Lao PDR, Liberia, indicator sets. The average correlation aggregate ranking. While a relatively Mongolia, the Netherlands, Panama, coefficient between the 10 indicator sets small distance between these 2 averages Poland, Portugal, Serbia, the Slovak included in the aggregate ranking is 0.37, suggests a broadly consistent approach Republic, Slovenia, Sri Lanka, Ukraine, the and the coefficients between any 2 sets of across the areas of business regulation United Arab Emirates and Uzbekistan. indicators range from 0.19 (between deal- measured by Doing Business, a relatively Second, Doing Business ranks these ing with construction permits and getting large distance suggests a more uneven economies on the increase in their rank- credit) to 0.60 (between starting a busi- approach, with greater room for improve- ing on the ease of doing business from the ness and protecting investors). These ment in some areas than in others. previous year using comparable rankings. correlations suggest that economies rarely score universally well or universally Variation in performance across the indi- Selecting the economies that imple- badly on the indicators (table 21.1). cator sets is not at all unusual. It reflects mented regulatory reforms in at least differences in the degree of priority that 3 topics and improved the most in the government authorities give to particular aggregate ranking is intended to highlight EASE OF DOING BUSINESS AND DISTANCE TO FRONTIER 133 economies with ongoing, broad-based distribution of total tax rates for all years. TABLE 21.2 What is the frontier in reform programs. Second, for each economy the scores ob- regulatory practice? tained for individual indicators are aggre- Topic and indicator Frontier DISTANCE TO gated through simple averaging into one Starting a business FRONTIER MEASURE distance to frontier score. An economy’s Procedures (number) 1 A drawback of the ease of doing business distance to frontier is indicated on a scale Time (days) 1 ranking is that it can measure the regulatory from 0 to 100, where 0 represents the Cost (% of income per capita) 0 performance of economies only relative lowest performance and 100 the frontier.5 Minimum capital (% of income per 0 capita) to the performance of others. It does not The difference between an economy’s Dealing with construction permits provide information on how the absolute distance to frontier score in 2005 and Procedures (number) 6 quality of the regulatory environment is its score in 2012 illustrates the extent Time (days) 25 improving over time. Nor does it provide to which the economy has closed the Cost (% of income per capita) 0.2 information on how large the gaps are be- gap to the frontier over time. And in any Registering property tween economies at a single point in time. given year the score measures how far an Procedures (number) 1 The distance to frontier measure is economy is from the highest performance Time (days) 1 designed to address both shortcomings, at that time. Cost (% of property value) 0 complementing the ease of doing busi- Getting credit The maximum (max) and minimum Strength of legal rights index (0–10) 10 ness ranking. This measure illustrates the (min) observed values are computed Depth of credit information index 6 distance of an economy to the “frontier,” for the 174 economies included in the (0–6) and the change in the measure over time Doing Business sample since 2005 and Protecting investors shows the extent to which the economy for all years (from 2005 to 2012). The Extent of disclosure index (0–10) 10 has closed this gap. The frontier is a score year 2005 was chosen as the baseline Extent of director liability index 9 derived from the most efficient practice (0–10) for the economy sample because it was or highest score achieved on each of the Ease of shareholder suits index 10 the first year in which data were available (0–10) component indicators in 9 Doing Business for the majority of economies (a total of Paying taxes indicator sets (excluding the employing 174) and for all 9 indicator sets included workers and getting electricity indicators) Payments (number per year) 3 in the measure. To mitigate the effects of by any economy since 2005. In starting Time (hours per year) 0a extreme outliers in the distributions of the a business, for example, New Zealand Total tax rate (% of profit) 27.5b rescaled data (very few economies need has achieved the highest performance Trading across borders 694 days to complete the procedures on the time (1 day), Canada and New Documents to export (number) 2 to start a business, but many need 9 Zealand on the number of procedures Time to export (days) 5 days), the maximum (max) is defined required (1), Slovenia on the cost (0% of Cost to export (US$ per container) 390 as the 95th percentile of the pooled data income per capita) and Australia and 90 Documents to import (number) 2 for all economies and all years for each other economies on the paid-in minimum Time to import (days) 4 indicator. The exceptions are the getting capital requirement (0% of income per Cost to import (US$ per container) 317 credit, protecting investors and resolving capita) (table 21.2). Enforcing contracts insolvency indicators, whose construc- Procedures (number) 21 tion precludes outliers. Calculating the distance to frontier for Time (days) 120 each economy involves 2 main steps. Take Ghana, which has a score of 67 Cost (% of claim) 0.1 First, individual indicator scores are nor- on the distance to frontier measure Resolving insolvency malized to a common unit: except for the for 2012. This score indicates that the Recovery rate (cents on the dollar) 94.4 total tax rate, each of the 28 component economy is 33 percentage points away a. The time of 0 hours refers to Maldives, where the 3 major taxes covered by the paying taxes indicators did indicators y is rescaled to (max  −  y)/ from the frontier constructed from the not exist until 2011. (max  −  min), with the minimum value best performances across all economies b. The frontier total tax rate differs from the threshold (min) representing the frontier—the set for the indicator this year. See the data notes for and all years. Ghana was further from the more details. highest performance on that indicator frontier in 2005, with a score of 54. The Source: Doing Business database. across all economies since 2005. For the difference between the scores shows an total tax rate, consistent with the calcula- improvement over time. tion of the rankings, the frontier is defined as the total tax rate corresponding to The distance to frontier measure can the 15th percentile based on the overall also be used for comparisons across 134 DOING BUSINESS 2013 economies in the same year, comple- (http://www.doingbusiness.org). Six more or less importance in the context of menting the ease of doing business rank- topics and more than 50 economies a specific economy. have been added since the inception 3. A technical note on the different ing. For example, Ghana stands at 64 this of the project. Earlier rankings on the aggregation and weighting methods is year in the ease of doing business ranking, ease of doing business are therefore not available on the Doing Business website while Peru, which is 29 percentage points comparable. (http://www.doingbusiness.org). from the frontier, stands at 43. 2. See Djankov and others (2005). Principal 4. Doing Business reforms making it more components and unobserved compo- difficult to do business are subtracted nents methods yield a ranking nearly from the total number of those making it NOTES identical to that from the simple average easier to do business. 1. In case of revisions to the methodology method because both these methods 5. This represents a change from last year’s or corrections to the underlying data, assign roughly equal weights to the report, where 100 represented the lowest the data are back-calculated to provide topics, since the pairwise correlations performance and 0 the frontier. a comparable time series since the year among indicators do not differ much. An the relevant economy or topic was first alternative to the simple average method included in the data set. The time series is to give different weights to the topics, is available on the Doing Business website depending on which are considered of 135 Summaries of Doing Business reforms in 2011/12 Doing Business reforms affecting all sets by expanding the list of products requiring of indicators included in this year’s report, nonautomatic licenses and introducing implemented from June 2011 to June 2012. new preapproval procedures for all imports. ✔ Doing Business reform making it easier to do business ARMENIA ✘ Doing Business reform making it more dif- ✔ Getting electricity ficult to do business Armenia made getting electricity easier by streamlining procedures and reducing ALBANIA connection fees. ✔ Starting a business ✔ Protecting investors Albania made starting a business easier by Armenia strengthened investor protec- making the notarization of incorporation tions by introducing a requirement for documents optional. shareholder approval of related-party ✔ Paying taxes transactions, requiring greater disclosure Albania made paying taxes easier for of such transactions in the annual report companies by abolishing the vehicle tax and making it easier to sue directors when and encouraging electronic filing for taxes. such transactions are prejudicial. ALGERIA AUSTRALIA ✔ Getting credit ✔ Getting credit Algeria improved access to credit informa- Australia strengthened its secured trans- tion by eliminating the minimum threshold actions system by adopting a new national for loans to be included in the database. legal regime governing the enforceability of security interests in personal property and implementing a unified collateral registry. ANGOLA ✔ Getting electricity BANGLADESH Angola made getting electricity easier by eliminating the requirement for customers ✘ Getting electricity applying for an electricity connection to Bangladesh made getting electricity more obtain authorizations from the 2 utility difficult by requiring all customers to meet companies. 7% of their electricity needs through solar energy, making it necessary to install solar panels. ANTIGUA AND BARBUDA ✔ Getting credit ✘ Trading across borders Bangladesh improved access to credit Antigua and Barbuda made trading across borders more difficult by increasing the information by establishing an online number of documents required to import. platform for sharing such information. ARGENTINA BELARUS ✘ Trading across borders ✘ Starting a business Argentina increased the time, cost and Belarus made starting a business more number of documents needed to import difficult by increasing the cost of business Reforms affecting the employing workers indicators are included here but do not affect the ranking on the ease of doing business. 136 DOING BUSINESS 2013 registration and the cost to obtain a com- ✘ Getting credit BURUNDI pany seal. Bosnia and Herzegovina made access to ✔ Starting a business ✔ Paying taxes credit information more difficult by stop- ping the private credit bureau’s collection Burundi made starting a business easier Belarus made paying taxes easier and by eliminating the requirements to have of credit information on individuals. less costly for companies by reducing the company documents notarized, to publish profit tax rate and encouraging the use of ✔ Paying taxes information on new companies in a journal electronic filing and payment systems. Bosnia and Herzegovina eased the admin- and to register new companies with the ✔ Resolving insolvency istrative burden of filing and paying social Ministry of Trade and Industry. Belarus enhanced its insolvency process security contributions by implementing electronic filing and payment systems. ✔ Dealing with construction permits by exempting the previously state-owned property of a privatized company from the Burundi made obtaining a construction bankruptcy proceeding, requiring that im- permit easier by eliminating the require- BOTSWANA movable property not sold in the auction ment for a clearance from the Ministry be offered to creditors for purchase and ✘ Paying taxes of Health and reducing the cost of the allowing immovable property to be sold Botswana made paying taxes more costly geotechnical study. without proof of state registration in a for companies by increasing the profit tax ✔ Registering property bankruptcy auction if there are no funds to rate. Burundi made property transfers faster pay for the registration. ✔ Trading across borders by establishing a statutory time limit for In Botswana exporting and importing processing property transfer requests at BELIZE became faster thanks to the introduction the land registry. of a scanner by the country’s customs ✔ Trading across borders ✔ Trading across borders authority and an upgrade of South Africa’s Belize reduced the time to export and Burundi reduced the time to trade across customs declaration system, both at the import by implementing the ASYCUDA Kopfontein–Tlokweng border post. borders by enhancing its use of electronic World electronic data interchange system. data interchange systems, introducing a more efficient system for monitoring BRAZIL BENIN goods going through transit countries and ✘ Registering property improving border coordination with neigh- ✔ Starting a business Brazil made transferring property more boring transit countries. Benin made starting a business easier by difficult by introducing a new certificate appointing a representative of the com- of good standing on labor debts, adding to mercial registry at the one-stop shop and CAMBODIA the number of due diligence procedures. reducing some fees. ✔ Enforcing contracts ✔ Getting credit ✔ Dealing with construction permits Brazil made enforcing contracts easier by Cambodia improved access to credit Benin reduced the time required to obtain information by establishing its first private a construction permit by speeding up the implementing an electronic system for fil- ing initial complaints at the São Paulo civil credit bureau. processing of applications. district court. ✘ Paying taxes ✔ Trading across borders Employing workers Cambodia introduced a new tax on im- Benin reduced the time required to trade across borders by implementing an elec- Brazil increased the notice period appli- movable property. tronic single-window system integrating cable in cases of redundancy dismissal of customs, control agencies, port authorities employees. CAMEROON and other service providers at the Cotonou port. ✔ Enforcing contracts BRUNEI DARUSSALAM Cameroon made enforcing contracts ✔ Enforcing contracts ✔ Dealing with construction permits easier by creating specialized commercial Benin made enforcing contracts easier by Brunei Darussalam made dealing with divisions within its courts of first instance. introducing a new code of civil, administra- construction permits easier by creating tive and social procedures. a one-stop shop for preconstruction approvals. CANADA BHUTAN ✔ Paying taxes ✔ Getting electricity Employing workers Brunei Darussalam made paying taxes less Canada made getting an electricity con- Bhutan introduced a minimum wage. costly for companies by reducing the profit nection easier by reducing the time needed tax rate. for external connection works. BOSNIA AND HERZEGOVINA BULGARIA CENTRAL AFRICAN REPUBLIC ✔ Registering property Bosnia and Herzegovina made it easier to ✔ Starting a business ✘ Dealing with construction permits transfer property between companies by Bulgaria made starting a business easier by The Central African Republic made obtain- computerizing the commercial registry. reducing the cost of registration. ing a construction permit more costly. SUMMARIES OF DOING BUSINESS REFORMS IN 2011/12 137 CHAD COSTA RICA submission of customs declarations and other documents. ✔ Starting a business ✔ Starting a business Chad made starting a business easier by Costa Rica made starting a business easier Employing workers setting up a one-stop shop. by streamlining the process of obtaining a The Czech Republic increased the maxi- sanitary permit for low-risk activities. mum duration of fixed-term contracts and reduced the severance pay applicable in CHINA ✔ Dealing with construction permits cases of redundancy dismissal of employ- Costa Rica streamlined the process for ees with 1 year of service. ✔ Starting a business obtaining construction permits by imple- China made starting a business less costly menting online approval systems. by exempting micro and small companies DENMARK from paying several administrative fees ✔ Getting credit from January 2012 to December 2014. Costa Rica improved access to credit infor- ✔ Registering property mation by guaranteeing borrowers’ right to Denmark made registering property easier ✔ Dealing with construction permits inspect their personal data. by introducing electronic submission of China simplified the process of obtaining property transfer applications at the land a construction permit by streamlining and ✔ Paying taxes registry. centralizing preconstruction approvals. Costa Rica made paying taxes easier for companies by implementing electronic payment for municipal taxes—though it DOMINICA COLOMBIA also introduced a registration flat tax. ✔ Trading across borders ✔ Starting a business Dominica reduced the time to import by Colombia made starting a business easier CROATIA implementing the ASYCUDA World elec- by eliminating the requirement to purchase tronic data interchange system. and register accounting books at the time ✔ Paying taxes of incorporation. Croatia made paying taxes less costly for companies by reducing the health insur- DOMINICAN REPUBLIC ance contribution rate. Paying taxes COMOROS ✘ The Dominican Republic increased the ✔ Starting a business CYPRUS corporate income tax rate. The Comoros made starting a business easier and less costly by replacing the ✔ Registering property requirement for a copy of the founders’ Cyprus made property transfers faster by ECUADOR criminal records with one for a sworn computerizing its land registry. ✘ Registering property declaration at the time of the company’s ✘ Paying taxes In Ecuador property transfers became registration and by reducing the fees to Cyprus made paying taxes more costly more time consuming as a result of incorporate a company. for companies by increasing the special implementation problems in transferring ✔ Registering property defense contribution rate on interest authority over property records to the income and introducing a private sector municipality of Quito. The Comoros made it easier to transfer property by reducing the property transfer special contribution and a fixed annual fee tax. for companies registered in Cyprus. At the EL SALVADOR same time, it simplified tax compliance by introducing electronic filing for corporate ✔ Getting credit CONGO, DEM. REP. income tax. El Salvador improved access to credit ✔ Starting a business information through a new law regulat- ing the management of personal credit The Democratic Republic of Congo made CZECH REPUBLIC information. starting a business easier by appointing ✔ Registering property additional public notaries. ✘ Paying taxes The Czech Republic made registering El Salvador introduced an alternative mini- property easier by allowing the cadastral mum tax. CONGO, REP. office online access to the commercial registry’s database and thus eliminating ✔ Starting a business the need to obtain a paper certificate from ETHIOPIA The Republic of Congo made starting a the registry before applying for registration ✔ Getting credit business easier by eliminating or reducing at the cadastre. Ethiopia improved access to credit infor- several administrative costs associated ✔ Paying taxes mation by establishing an online platform with incorporation. for sharing such information and by guar- The Czech Republic made paying taxes ✔ Dealing with construction permits faster for companies by promoting the use anteeing borrowers’ right to inspect their The Republic of Congo made dealing of electronic facilities. personal data. with construction permits less expensive ✔ Trading across borders ✘ Paying taxes by reducing the cost of registering a new The Czech Republic reduced the time to Ethiopia introduced a social insurance building at the land registry. export and import by allowing electronic contribution. 138 DOING BUSINESS 2013 FIJI time limits for all insolvency-related pro- GUINEA cedures, including auctions. ✘ Starting a business ✔ Starting a business Fiji made starting a business more difficult Guinea made starting a business easier by by requiring new companies applying for GERMANY setting up a one-stop shop for company a business license to obtain a certificate incorporation and by replacing the require- ✔ Paying taxes from the national fire authority and a letter Germany made paying taxes more ment for a copy of the founders’ criminal of compliance from the Ministry of Labor. convenient for companies by canceling records with one for a sworn declaration ✘ Dealing with construction permits at the time of the company’s registration. ELENA procedures and implementing an Fiji made obtaining a construction permit electronic filing and payment system for ✔ Dealing with construction permits more expensive by implementing a fee for most taxes. Guinea made obtaining a building permit the fire department clearance. ✔ Resolving insolvency less expensive by clarifying the method for ✘ Registering property Germany strengthened its insolvency calculating the cost. Fiji made transferring property more dif- ficult by requiring parties to a property process by adopting a new insolvency ✔ Getting electricity transaction to obtain a capital gains tax law that facilitates in-court restructurings Guinea made getting electricity easier by clearance certificate from the Fiji Revenue of distressed companies and increases simplifying the process for connecting new and Customs Authority. participation by creditors. customers to the distribution network. ✔ Paying taxes Fiji made paying taxes less costly for GHANA HUNGARY companies by reducing the profit tax rate. At the same time, Fiji introduced a capital ✘ Trading across borders ✘ Starting a business gains tax. Ghana added to the time required to Hungary made starting a business more import by increasing its scanning of im- complex by increasing the registration ports and changing its customs clearance GABON fees for limited liability companies and system. adding a new tax registration at the time ✘ Registering property of incorporation. In Gabon registering property became more difficult because of longer adminis- GREECE ✔ Getting credit trative delays at the land registry. ✔ Dealing with construction permits Hungary improved access to credit Greece reduced the time required to ob- information by passing its first credit GEORGIA tain a construction permit by introducing bureau law mandating the creation of a strict time limits for processing permit database with positive credit information ✔ Getting electricity applications at the municipality. on individuals. Georgia made getting electricity easier by simplifying the process of connecting new ✔ Protecting investors ✔ Paying taxes customers to the distribution network and Hungary made paying taxes easier for Greece strengthened investor protections reducing connection fees. by requiring greater immediate and an- companies by abolishing the community ✔ Getting credit nual disclosure of material related-party tax. At the same time, Hungary increased Georgia strengthened its secured transac- transactions. health insurance contributions paid by the tions system through an amendment to employer. the civil code allowing a security interest ✔ Resolving insolvency to extend to the products, proceeds and Greece enhanced its insolvency process ✔ Trading across borders replacements of collateral. by abolishing the conciliation procedure Hungary reduced the time to export and and introducing a new rehabilitation import by allowing electronic submis- ✔ Paying taxes proceeding. sion of customs declarations and other Georgia made paying taxes easier for com- panies by enhancing the use of electronic documents. systems and providing more services to GRENADA taxpayers. ICELAND ✔ Trading across borders ✔ Trading across borders ✘ Paying taxes Grenada reduced the time to export and Georgia reduced the time to export and im- import by implementing the ASYCUDA Iceland increased the corporate income port by creating customs clearance zones. World electronic data interchange system. tax rate. ✔ Enforcing contracts Georgia made enforcing contracts easier by simplifying and speeding up the pro- GUATEMALA INDIA ceedings for commercial disputes. ✔ Dealing with construction permits ✔ Dealing with construction permits ✔ Resolving insolvency Guatemala made dealing with construc- India reduced the time required to obtain a Georgia expedited the process of resolving tion permits easier by introducing a risk- building permit by establishing strict time insolvency by establishing or tightening based approval system. limits for preconstruction approvals. SUMMARIES OF DOING BUSINESS REFORMS IN 2011/12 139 INDONESIA ✔ Trading across borders ✔ Resolving insolvency Jamaica reduced the time to import by Korea expedited the insolvency process ✔ Getting electricity allowing customs entries to be lodged at by implementing a fast track for company Indonesia made getting electricity easier night. rehabilitation. by eliminating the requirement for new customers applying for an electricity con- nection to show a neighbor’s electricity bill JAPAN KOSOVO as a way to help determine their address. ✔ Paying taxes ✔ Starting a business Japan made paying taxes less costly for Kosovo made starting a business easier by IRAN, ISLAMIC REP. companies by reducing the corporate in- eliminating the minimum capital require- come tax rate—though it also introduced a ment and business registration fee and ✘ Starting a business restoration surtax for a 3-year period. streamlining the business registration The Islamic Republic of Iran made starting process. a business more difficult by requiring com- pany founders to obtain a criminal record KAZAKHSTAN ✔ Protecting investors clearance to register a new company. Kosovo strengthened investor protec- ✔ Starting a business ✔ Protecting investors tions by introducing a requirement for Kazakhstan made starting a business shareholder approval of related-party The Islamic Republic of Iran strengthened easier by eliminating the requirement to transactions, requiring greater disclosure investor protections by requiring greater pay in minimum capital within 3 months of such transactions in the annual report immediate disclosure of related-party after incorporation. and making it easier to sue directors when transactions. ✔ Getting credit such transactions are prejudicial. Kazakhstan strengthened secured Employing workers IRELAND creditor rights by introducing new grounds Kosovo introduced a minimum wage. ✔ Starting a business for relief from an automatic stay during Ireland made starting a business easier by rehabilitation proceedings. introducing a new online facility for busi- LAO PDR ✔ Resolving insolvency ness registration. ✔ Starting a business Kazakhstan strengthened its insolvency ✔ Registering property process by introducing an accelerated Lao PDR made starting a business easier Ireland made property transfers less costly rehabilitation proceeding, extending the by allowing entrepreneurs to apply for tax by introducing a single stamp duty rate for period for rehabilitation, expanding the registration at the time of incorporation. transfers of nonresidential property. It also powers of and improving qualification re- ✔ Paying taxes extended compulsory registration to all quirements for insolvency administrators, Lao PDR made paying taxes less costly property in Ireland. changing requirements for bankruptcy for companies by reducing the corporate filings, extending the rights of creditors, income tax rate. changing regulations related to the con- ISRAEL ✔ Trading across borders tinuation of operations, introducing a time ✔ Registering property limit for adopting a rehabilitation plan and Lao PDR reduced the time to export and Israel made transferring property easier by adding court supervision requirements. import by implementing the ASYCUDA tightening time limits for tax authorities to electronic data interchange system at process capital gains self-assessments on the Thanaleng–Friendship Bridge border property transfers. KENYA crossing. ✔ Paying taxes ITALY Kenya made paying taxes faster for LATVIA companies by enhancing electronic filing ✔ Getting electricity systems. Employing workers Italy made getting electricity easier and Latvia eliminated requirements for notifi- less costly by improving the efficiency of cation of third parties in cases of redun- the utility Acea Distribuzione and reducing KOREA, REP. dancy dismissal. connection fees. ✔ Getting electricity ✔ Registering property Korea made getting electricity less LESOTHO Italy made transferring property easier costly by introducing a new connection ✔ Starting a business by digitizing cadastral maps of properties fee schedule and an installment payment system. Lesotho made starting a business easier and making the maps available to notaries by creating a one-stop shop for company online. ✔ Protecting investors incorporation and by eliminating the Korea strengthened investor protections requirements for paid-in minimum capital JAMAICA by making it easier to sue directors in cases and for notarization of the articles of of prejudicial related-party transactions. association. ✔ Paying taxes Jamaica made paying taxes easier for ✔ Paying taxes ✔ Protecting investors companies by allowing joint filing and pay- Korea made paying taxes less costly for Lesotho strengthened investor protections ment of all social security contributions. companies by reducing the profit tax rate. by increasing the disclosure requirements 140 DOING BUSINESS 2013 for related-party transactions and improving ✘ Paying taxes ✔ Getting electricity the liability regime for company directors in Malawi introduced a mandatory pension In Mexico the distribution utility made cases of abusive related-party transactions. contribution for companies. getting electricity easier by streamlining procedures, offering training opportunities ✔ Trading across borders to private contractors, using a geographic LIBERIA Trading across borders became easier information system (GIS) to map the elec- ✔ Getting electricity in Malawi thanks to improvements in tricity distribution network and increasing customs clearance procedures and trans- In Liberia obtaining an electricity connec- the stock of materials. port links between the port of Beira in tion became easier thanks to the adoption Mozambique and Blantyre. of better procurement practices by the Liberia Electricity Corporation. MOLDOVA ✔ Paying taxes MALAYSIA ✔ Protecting investors ✔ Dealing with construction permits Moldova strengthened investor protec- Liberia made paying taxes easier for com- tions by allowing the rescission of prejudi- panies by reducing the profit tax rate and Malaysia made dealing with construction cial related-party transactions. abolishing the turnover tax. permits faster by improving the one-stop center for new buildings and by reducing ✘ Paying taxes ✔ Enforcing contracts the time to connect to telephone service. Moldova made paying taxes more costly Liberia made enforcing contracts easier by ✔ Registering property for companies by reintroducing the corpo- creating a specialized commercial court. rate income tax—but also made tax com- Malaysia substantially reduced the num- pliance easier by encouraging electronic ber of days it takes to register property LITHUANIA filing and payment. transfers. ✔ Starting a business ✘ Enforcing contracts Lithuania made starting a business easier Moldova made enforcing contracts more MALDIVES by introducing online registration for limit- difficult by abolishing the specialized ed liability companies and eliminating the ✘ Paying taxes economic courts. notarization requirement for incorporation Maldives introduced a goods and service documents. ✔ Resolving insolvency tax, a business profit tax and additional social contributions. Moldova strengthened its insolvency ✔ Resolving insolvency process by extending the duration of the Lithuania made resolving insolvency reorganization proceeding and refining the easier by establishing which cases against MALI qualification requirements for insolvency the company’s property shall be taken to administrators. ✔ Paying taxes the bankruptcy court, tightening the time Mali made paying taxes less costly for frame for decisions on appeals, abolishing companies by reducing the corporate in- MONGOLIA the court’s obligation to individually notify come tax rate—though it also introduced creditors and other stakeholders about re- ✔ Starting a business a new tax on land. At the same time, Mali structuring proceedings and setting new Mongolia made starting a business easier simplified the process of paying taxes by time limits for creditors to file claims. by eliminating the minimum capital re- introducing a single form for joint filing and payment of several taxes. quirement for limited liability companies. MACEDONIA, FYR ✔ Getting credit ✔ Starting a business MAURITIUS Mongolia improved access to credit infor- FYR Macedonia made starting a busi- mation by guaranteeing borrowers’ right ✔ Registering property ness easier by simplifying the process for to inspect their personal data. Mauritius made property transfers faster obtaining a company seal. ✔ Protecting investors by implementing an electronic information management system at the Registrar- Mongolia strengthened investor protec- MADAGASCAR General’s Department. tions by increasing the disclosure require- ments for related-party transactions. ✔ Starting a business ✔ Getting credit Madagascar made starting a business Mauritius improved access to credit infor- easier by allowing the one-stop shop to mation by starting to collect and distribute MONTENEGRO deal with the publication of the notice of payment information from retailers and ✔ Dealing with construction permits incorporation. beginning to distribute both positive and Montenegro made dealing with construc- negative information. tion permits less expensive by reducing MALAWI the cost of pre- and postconstruction ✘ Dealing with construction permits MEXICO procedures. Malawi made dealing with construction ✔ Starting a business ✔ Getting credit permits more expensive by increasing the Mexico made starting a business easier by Montenegro improved access to credit cost to obtain the plan approval and to eliminating the minimum capital require- information by guaranteeing borrowers’ register the property. ment for limited liability companies. right to inspect their personal data. SUMMARIES OF DOING BUSINESS REFORMS IN 2011/12 141 Employing workers NIGER PERU Montenegro lowered redundancy costs— ✔ Trading across borders ✔ Dealing with construction permits though it also reduced the maximum dura- Niger reduced the time to import by Peru made obtaining a construction per- tion of fixed-term contracts and increased expanding and optimizing the use of an mit easier by eliminating requirements for paid annual leave. electronic data interchange system for several preconstruction approvals. customs clearance. ✔ Protecting investors MOROCCO Peru strengthened investor protections ✔ Starting a business NIGERIA through a new law regulating the approval Morocco made starting a business easier ✘ Paying taxes of related-party transactions and making it by eliminating the minimum capital re- easier to sue directors when such transac- Nigeria introduced a new compulsory quirement for limited liability companies. tions are prejudicial. labor contribution paid by the employer. ✘ Registering property Morocco made registering property more NORWAY POLAND costly by increasing property registration ✔ Starting a business ✔ Registering property fees. Norway made starting a business easier Poland made property registration faster by reducing the minimum capital require- by introducing a new caseload manage- NAMIBIA ment for private joint stock companies. ment system for the land and mortgage ✔ Getting electricity registries and by continuing to digitize the ✔ Dealing with construction permits records of the registries. Namibia made getting electricity easier Norway reduced the time required to by reducing the time required to provide obtain a building permit by implementing ✔ Paying taxes estimates and external connection works strict time limits for construction project Poland made paying taxes easier for and by lowering the connection costs. approvals. companies by promoting the use of ✘ Registering property electronic filing and payment systems— though it also increased social security Namibia made transferring property more OMAN contributions. difficult by requiring conveyancers to ✔ Getting credit obtain a building compliance certificate ✔ Enforcing contracts Oman improved access to credit informa- beforehand. Poland made enforcing contracts easier tion by guaranteeing borrowers’ right to by amending the civil procedure code and inspect their personal data. appointing more judges to commercial NETHERLANDS Employing workers courts. ✔ Starting a business Oman reduced the maximum number of ✔ Resolving insolvency The Netherlands made starting a business working days per week and increased the Poland strengthened its insolvency easier by eliminating the requirement paid annual leave applicable for employ- process by updating guidelines on the in- for a declaration of nonobjection by the ees with 1 year of service. formation and documents that need to be Ministry of Justice before incorporation. included in the bankruptcy petition and by ✔ Dealing with construction permits PANAMA granting secured creditors the right to take The Netherlands made dealing with ✔ Dealing with construction permits over claims encumbered with financial construction permits simpler by merging pledges in case of liquidation. Panama made dealing with construction several approvals and implementing an permits easier by reducing the fees for a online application system. permit from the fire department’s safety PORTUGAL ✔ Protecting investors office and by accelerating the process at the building registry for obtaining a certifi- ✔ Dealing with construction permits The Netherlands strengthened investor cate of good standing and for registering Portugal made obtaining construction protections through a new law regulating the new building. permits easier by implementing strict the approval of related-party transactions. time limits to process urban projects and ✔ Trading across borders ✔ Registering property simplifying the associated procedures. The Netherlands made importing easier Panama made property transfers faster by increasing working hours at the registry ✔ Trading across borders by introducing a new web-based system and reorganizing the caseload of its staff. Portugal made trading across borders for cargo release at the port terminals in easier by implementing an electronic Rotterdam. ✔ Paying taxes single window for port procedures. Panama made paying taxes easier for companies by enhancing the electronic ✔ Resolving insolvency NEW ZEALAND filing system for value added tax and Portugal made resolving insolvency easier ✔ Getting credit simplifying tax return forms for corporate by introducing a new insolvency law that New Zealand improved access to credit income tax—though it also began requir- expedites liquidation procedures and cre- information by allowing credit bureaus to ing companies to pay corporate income ates fast-track mechanisms both in and collect positive information on individuals. tax monthly rather than quarterly. out of court. 142 DOING BUSINESS 2013 Employing workers SÃO TOMÉ AND PRÍNCIPE trading licenses, income tax registration Portugal increased the maximum dura- and health insurance registration. ✘ Dealing with construction permits tion of fixed-term contracts and reduced São Tomé and Príncipe made obtaining a ✔ Paying taxes the severance pay applicable in cases of construction permit more expensive by The Slovak Republic made paying taxes redundancy dismissal. increasing the fees. easier for companies by implementing electronic filing and payment of social se- PUERTO RICO (U.S.) curity and health insurance contributions. SAUDI ARABIA ✔ Paying taxes ✔ Enforcing contracts ✘ Getting electricity Puerto Rico (territory of the United States) The Slovak Republic made enforcing Saudi Arabia made getting electricity more made paying taxes easier and less costly contracts easier by adopting several expensive by increasing the connection fees. for companies by introducing a new in- amendments to the code of civil proce- ternal revenue code and tax codification ✔ Paying taxes dure intended to simplify and speed up and by reducing the effective corporate Saudi Arabia made paying taxes easier proceedings as well as to limit obstructive income tax rate. for companies by introducing online filing tactics by the parties to a case. and payment systems for social security ✔ Resolving insolvency contributions. QATAR The Slovak Republic improved its insol- ✔ Enforcing contracts vency process by redefining the roles and ✔ Trading across borders Saudi Arabia made enforcing contracts powers of creditors and trustees, strength- Qatar reduced the time to export and import ening the rights of secured creditors and easier by expanding the computerization by introducing a new online portal allowing redefining rules for the conversion of re- of its courts and introducing an electronic electronic submission of customs declara- structuring into a bankruptcy proceeding. filing system. tions for clearance at the Doha seaport. Employing workers SERBIA The Slovak Republic increased the maxi- ROMANIA mum duration of fixed-term contracts, ✔ Starting a business ✔ Starting a business eliminated requirements for notification Serbia made starting a business easier by of third parties in cases of redundancy Romania made starting a business easier eliminating the paid-in minimum capital by reducing the time required to obtain dismissal and reduced redundancy costs. requirement. a clearance certificate from the fiscal administration agency. ✔ Enforcing contracts SLOVENIA Serbia made enforcing contracts easier by ✔ Getting credit ✔ Protecting investors introducing a private bailiff system. Romania strengthened its legal framework Slovenia strengthened investor protec- for secured transactions by allowing the ✔ Resolving insolvency tions through a new law regulating the automatic extension of security interests Serbia strengthened its insolvency process approval of related-party transactions. to the products, proceeds and replace- by introducing private bailiffs, reducing ments of collateral. the starting prices for the sale of assets, ✔ Paying taxes prohibiting appeals, expediting service Slovenia made paying taxes easier and of process and adopting an electronic less costly for companies by implement- RUSSIAN FEDERATION registry for injunctions to make public all ing electronic filing and payment of social ✔ Dealing with construction permits prohibitions on the disposal or pledge of security contributions and by reducing the Russia made obtaining a construction per- movable or immovable property. corporate income tax rate. mit simpler by eliminating requirements ✔ Resolving insolvency for several preconstruction approvals. SIERRA LEONE Slovenia strengthened its insolvency ✔ Paying taxes process by requiring that the debtor offer ✔ Registering property Russia eased the administrative burden of creditors payment of at least 50% of the Sierra Leone made registering property eas- taxes for firms by simplifying compliance claims within 4 years; giving greater power ier by computerizing the Ministry of Lands, procedures for value added tax and by pro- to the creditors’ committee in a bank- Country Planning and the Environment. moting the use of tax accounting software ruptcy proceeding; prohibiting insolvency and electronic services. ✔ Getting credit administrators from allowing relatives to Sierra Leone improved access to credit render services associated with the bank- information by establishing a public credit ruptcy proceeding; and establishing fines RWANDA registry at its central bank and guaran- for members of management that violate ✔ Getting electricity teeing borrowers’ right to inspect their certain obligations or prohibitions. personal data. Rwanda made getting electricity easier by reducing the cost of obtaining a new SOUTH AFRICA connection. SLOVAK REPUBLIC ✔ Trading across borders ✔ Enforcing contracts ✔ Starting a business South Africa reduced the time and Rwanda made enforcing contracts easier The Slovak Republic made starting a busi- documents required to export and import by implementing an electronic filing sys- ness easier by speeding up the processing through its ongoing customs moderniza- tem for initial complaints. of applications at the one-stop shop for tion program. SUMMARIES OF DOING BUSINESS REFORMS IN 2011/12 143 SPAIN SWAZILAND THAILAND ✔ Trading across borders ✔ Paying taxes ✔ Starting a business Spain reduced the time to import by Swaziland introduced a value added tax. Thailand made starting a business easier further expanding the use of electronic by allowing the registrar at the Department submission of customs declarations and SWEDEN of Business Development to receive the improving the sharing of information company’s work regulations. ✘ Registering property among customs and other agencies. ✔ Paying taxes In Sweden property transfers became ✔ Resolving insolvency more time consuming during implemen- Thailand made paying taxes less costly for Spain strengthened its insolvency process tation of a new information technology companies by reducing the profit tax rate. by making workouts easier, offering more system at the land registry. protections for refinancing agreements, al- TIMOR-LESTE lowing conversion from reorganization into SYRIAN ARAB REPUBLIC Employing workers liquidation at any time, allowing reliefs of ✔ Getting credit Timor-Leste reduced the maximum dura- the stay under certain circumstances and Syria improved access to credit informa- tion of fixed-term contracts and also intro- permitting the judge to determine whether tion by establishing an online system for duced a wage premium for night work. an asset of the insolvent company is nec- data exchange between all banks and essary for its continued operation. microfinance institutions and the central Employing workers bank’s credit registry. TOGO Spain temporarily allowed unlimited dura- ✔ Starting a business tion of fixed-term contracts. TAIWAN, CHINA Togo made starting a business easier and less costly by reducing incorpora- ✔ Dealing with construction permits tion fees, improving the work flow at the SRI LANKA Taiwan, China, made dealing with con- one-stop shop for company registration struction permits easier by introducing a ✔ Starting a business and replacing the requirement for a copy risk-based and self-regulatory inspection Sri Lanka made starting a business easier of the founders’ criminal records with one system and improving operational features by computerizing and expediting the pro- for a sworn declaration at the time of the of the one-stop shop for building permits. cess of obtaining a registration number company’s registration. ✔ Protecting investors for the Employees Provident Fund and Employing workers Taiwan, China, strengthened investor pro- Employees Trust Fund. Togo increased the wage premium for tections by increasing disclosure require- ✔ Registering property ments for related-party transactions and weekly holiday work and the severance Sri Lanka made registering property faster improving the liability regime for company payment in cases of redundancy dismissal. by introducing an electronic system at the directors in cases where such transactions are abusive. land registry in Colombo. TRINIDAD AND TOBAGO ✔ Getting credit ✔ Registering property TAJIKISTAN Sri Lanka strengthened its secured In Trinidad and Tobago property transfers transactions system by establishing an ✔ Protecting investors became faster thanks to speedier issuance electronic, searchable collateral registry Tajikistan strengthened investor protec- of clearance certificates by the Water and and issuing regulations for its operation. tions by making it easier to sue directors Sewerage Authority. in cases of prejudicial related-party ✔ Trading across borders transactions. ✔ Trading across borders Sri Lanka reduced the time to export by Trinidad and Tobago reduced the time implementing the ASYCUDA World elec- to export and import by launching TANZANIA the ASYCUDA World electronic data tronic data interchange system. ✔ Starting a business interchange system and simplifying the Tanzania made starting a business easier process for obtaining a certificate of origin. ST. KITTS AND NEVIS by eliminating the requirement for inspec- ✘ Trading across borders tions by health, town and land officers as a prerequisite for a business license. TURKEY St. Kitts and Nevis made it more expensive ✔ Dealing with construction permits to export by increasing the cost of opera- ✘ Dealing with construction permits tions at the port of Basseterre. Tanzania made dealing with construction Turkey made dealing with construction permits more expensive by increasing the permits easier by eliminating the require- cost to obtain a building permit. ment to build a shelter in nonresidential SURINAME buildings with a total area of less than ✘ Trading across borders 1,500 square meters. ✘ Trading across borders Tanzania made importing more difficult by Suriname increased the time to export by introducing a requirement to obtain a cer- ✔ Enforcing contracts involving more customs departments in tificate of conformity before the imported Turkey made enforcing contracts easier by clearing exports. goods are shipped. introducing a new civil procedure law. 144 DOING BUSINESS 2013 UGANDA an online filing and payment system for VANUATU social security contributions. ✘ Registering property ✘ Dealing with construction permits Uganda made transferring property more Vanuatu made obtaining a construction difficult by introducing a requirement for UNITED KINGDOM permit more cumbersome by making a property purchasers to obtain an income preliminary environmental assessment ✔ Paying taxes mandatory and made it more expensive by tax certificate before registration, resulting in delays at the Uganda Revenue Authority The United Kingdom made paying taxes increasing the fees. and the Ministry of Finance. At the same less costly for companies by reducing the time, Uganda made it easier by digitizing corporate income tax rate. VENEZUELA, RB records at the title registry, increasing effi- Employing workers ✘ Starting a business ciency at the assessor’s office and making it possible for more banks to accept the The United Kingdom increased the sever- República Bolivariana de Venezuela stamp duty payment. ance pay applicable in cases of redun- made starting a business more dif- dancy dismissal. ficult by increasing the cost of company ✔ Resolving insolvency incorporation. Uganda strengthened its insolvency process by clarifying rules on the creation URUGUAY ✘ Paying taxes of mortgages, establishing the duties of República Bolivariana de Venezuela made ✔ Paying taxes paying taxes more costly and difficult for mortgagors and mortgagees, defining priority rules, providing remedies for mort- Uruguay made paying taxes easier for companies by introducing a sports, physi- gagors and mortgagees and establishing small and medium-size companies by fully cal activities and physical education tax. the powers of receivers. implementing an online filing and pay- Employing workers ment system for capital, value added and República Bolivariana de Venezuela in- corporate income taxes and by improving troduced a new labor code that prohibits UKRAINE the online facilities for social security redundancy dismissals. ✔ Starting a business contributions. Ukraine made starting a business easier by eliminating the minimum capital require- ✔ Trading across borders VIETNAM ment for company incorporation as well Uruguay reduced the time to import by ✔ Starting a business as the requirement to have incorporation improving port efficiency and introducing Vietnam made starting a business easier documents notarized. electronic payment and predeclaration by allowing companies to use self-printed systems for customs. value added tax invoices. ✔ Registering property Ukraine made property transfers faster by introducing an effective time limit for UZBEKISTAN WEST BANK AND GAZA processing transfer applications at the ✘ Registering property land cadastre in Kiev. ✔ Starting a business West Bank and Gaza made transferring Uzbekistan made starting a business ✔ Paying taxes property more costly by increasing the easier by introducing an online facility property transfer fee. Ukraine made paying taxes easier by im- plementing electronic filing and payment for name reservation and eliminating the ✔ Getting credit for medium-size and large enterprises. fee to open a bank account for small West Bank and Gaza improved access to businesses. credit information by guaranteeing bor- UNITED ARAB EMIRATES ✔ Getting credit rowers’ right to inspect their personal data. ✔ Starting a business Uzbekistan improved access to credit The United Arab Emirates made starting a information by guaranteeing borrowers’ ZAMBIA business easier by eliminating the require- right to inspect their personal data. ✔ Resolving insolvency ment for a company to prepare a name board ✔ Trading across borders Zambia strengthened its insolvency pro- in English and Arabic after having received cess by introducing further qualification Uzbekistan reduced the time to export by clearance on the use of office premises. requirements for receivers and liquidators introducing a single window for customs ✔ Getting electricity and by establishing specific duties and clearance and reduced the number of docu- remuneration rules for them. In the United Arab Emirates the Dubai ments needed for each import transaction. Electricity and Water Authority made getting electricity easier by introducing an electronic ✔ Resolving insolvency “one window, one step” application process Uzbekistan strengthened its insolvency allowing customers to submit and track their process by introducing new time limits for applications online and reducing the time for insolvency proceedings and new time lim- processing the applications. its and procedures for the second auction ✔ Paying taxes and by making it possible for businesses to The United Arab Emirates made paying continue operating throughout the liquida- taxes easier for companies by establishing tion proceeding. 145 Country tables ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business AFGHANISTAN South Asia GNI per capita (US$) 585 Ease of doing business (rank) 168 Low income Population (m) 35.3 Starting a business (rank) 28 Registering property (rank) 174 Trading across borders (rank) 178 Procedures (number) 4 Procedures (number) 9 Documents to export (number) 10 Time (days) 7 Time (days) 250 Time to export (days) 74 Cost (% of income per capita) 22.5 Cost (% of property value) 5.0 Cost to export (US$ per container) 3,545 Minimum capital (% of income per capita) 0.0 Documents to import (number) 10 Getting credit (rank) 154 Time to import (days) 77 Dealing with construction permits (rank) 164 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 3,830 Procedures (number) 12 Depth of credit information index (0-6) 0 Time (days) 334 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 164 Cost (% of income per capita) 4,308.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 47 Time (days) 1,642 Getting electricity (rank) 110 Protecting investors (rank) 185 Cost (% of claim) 25.0 Procedures (number) 4 Extent of disclosure index (0-10) 1 Time (days) 109 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 115 Cost (% of income per capita) 3,494.3 Ease of shareholder suits index (0-10) 1 Time (years) 2.0 Strength of investor protection index (0-10) 1.0 Cost (% of estate) 25 Recovery rate (cents on the dollar) 26.4 Paying taxes (rank) 94 Payments (number per year) 20 Time (hours per year) 275 Total tax rate (% of profit) 36.4 ALBANIA Eastern Europe & Central Asia GNI per capita (US$) 3,980 Ease of doing business (rank) 85 Lower middle income Population (m) 3.2 ✔ Starting a business (rank) 62 Registering property (rank) 121 Trading across borders (rank) 79 Procedures (number) 4 Procedures (number) 6 Documents to export (number) 7 Time (days) 4 Time (days) 33 Time to export (days) 19 Cost (% of income per capita) 22.1 Cost (% of property value) 11.4 Cost to export (US$ per container) 745 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 23 Time to import (days) 18 Dealing with construction permits (rank) 185 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 730 Procedures (number) NO PRACTICE Depth of credit information index (0-6) 4 Time (days) NO PRACTICE Public registry coverage (% of adults) 19.7 Enforcing contracts (rank) 85 Cost (% of income per capita) NO PRACTICE Private bureau coverage (% of adults) 0.0 Procedures (number) 39 Time (days) 390 Getting electricity (rank) 154 Protecting investors (rank) 17 Cost (% of claim) 35.7 Procedures (number) 6 Extent of disclosure index (0-10) 8 Time (days) 177 Extent of director liability index (0-10) 9 Resolving insolvency (rank) 66 Cost (% of income per capita) 573.7 Ease of shareholder suits index (0-10) 5 Time (years) 2.0 Strength of investor protection index (0-10) 7.3 Cost (% of estate) 10 Recovery rate (cents on the dollar) 39.6 ✔ Paying taxes (rank) 160 Payments (number per year) 44 Time (hours per year) 357 Total tax rate (% of profit) 38.7 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 146 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business ALGERIA Middle East & North Africa GNI per capita (US$) 4,470 Ease of doing business (rank) 152 Upper middle income Population (m) 36.0 Starting a business (rank) 156 Registering property (rank) 172 Trading across borders (rank) 129 Procedures (number) 14 Procedures (number) 10 Documents to export (number) 8 Time (days) 25 Time (days) 63 Time to export (days) 17 Cost (% of income per capita) 12.1 Cost (% of property value) 7.1 Cost to export (US$ per container) 1,260 Minimum capital (% of income per capita) 27.2 Documents to import (number) 9 ✔ Getting credit (rank) 129 Time to import (days) 27 Dealing with construction permits (rank) 138 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,330 Procedures (number) 19 Depth of credit information index (0-6) 4 Time (days) 281 Public registry coverage (% of adults) 2.3 Enforcing contracts (rank) 126 Cost (% of income per capita) 54.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 45 Time (days) 630 Getting electricity (rank) 165 Protecting investors (rank) 82 Cost (% of claim) 21.9 Procedures (number) 6 Extent of disclosure index (0-10) 6 Time (days) 159 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 62 Cost (% of income per capita) 1,489.9 Ease of shareholder suits index (0-10) 4 Time (years) 2.5 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 7 Recovery rate (cents on the dollar) 41.7 Paying taxes (rank) 170 Payments (number per year) 29 Time (hours per year) 451 Total tax rate (% of profit) 72.0 ANGOLA Sub-Saharan Africa GNI per capita (US$) 4,060 Ease of doing business (rank) 172 Upper middle income Population (m) 19.6 Starting a business (rank) 171 Registering property (rank) 131 Trading across borders (rank) 164 Procedures (number) 8 Procedures (number) 7 Documents to export (number) 11 Time (days) 68 Time (days) 184 Time to export (days) 48 Cost (% of income per capita) 105.4 Cost (% of property value) 3.1 Cost to export (US$ per container) 1,850 Minimum capital (% of income per capita) 24.6 Documents to import (number) 8 Getting credit (rank) 129 Time to import (days) 45 Dealing with construction permits (rank) 124 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 2,690 Procedures (number) 12 Depth of credit information index (0-6) 4 Time (days) 348 Public registry coverage (% of adults) 1.8 Enforcing contracts (rank) 183 Cost (% of income per capita) 153.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 46 Time (days) 1,011 ✔ Getting electricity (rank) 113 Protecting investors (rank) 70 Cost (% of claim) 44.4 Procedures (number) 7 Extent of disclosure index (0-10) 5 Time (days) 55 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 162 Cost (% of income per capita) 754.9 Ease of shareholder suits index (0-10) 6 Time (years) 6.2 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 22 Recovery rate (cents on the dollar) 8.0 Paying taxes (rank) 154 Payments (number per year) 31 Time (hours per year) 282 Total tax rate (% of profit) 53.2 ANTIGUA AND BARBUDA Latin America & Caribbean GNI per capita (US$) 12,060 Ease of doing business (rank) 63 Upper middle income Population (m) 0.1 Starting a business (rank) 85 Registering property (rank) 125 ✘ Trading across borders (rank) 110 Procedures (number) 8 Procedures (number) 7 Documents to export (number) 5 Time (days) 21 Time (days) 26 Time to export (days) 16 Cost (% of income per capita) 10.9 Cost (% of property value) 10.9 Cost to export (US$ per container) 1,440 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 104 Time to import (days) 23 Dealing with construction permits (rank) 24 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,870 Procedures (number) 10 Depth of credit information index (0-6) 0 Time (days) 134 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 72 Cost (% of income per capita) 23.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 45 Time (days) 351 Getting electricity (rank) 18 Protecting investors (rank) 32 Cost (% of claim) 22.7 Procedures (number) 4 Extent of disclosure index (0-10) 4 Time (days) 42 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 85 Cost (% of income per capita) 131.3 Ease of shareholder suits index (0-10) 7 Time (years) 3.0 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 7 Recovery rate (cents on the dollar) 35.2 Paying taxes (rank) 142 Payments (number per year) 57 Time (hours per year) 207 Total tax rate (% of profit) 41.5 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 147 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business ARGENTINA Latin America & Caribbean GNI per capita (US$) 9,740 Ease of doing business (rank) 124 Upper middle income Population (m) 40.8 Starting a business (rank) 154 Registering property (rank) 135 ✘ Trading across borders (rank) 139 Procedures (number) 14 Procedures (number) 7 Documents to export (number) 7 Time (days) 26 Time (days) 55 Time to export (days) 13 Cost (% of income per capita) 12.3 Cost (% of property value) 7.0 Cost to export (US$ per container) 1,650 Minimum capital (% of income per capita) 5.7 Documents to import (number) 10 Getting credit (rank) 70 Time to import (days) 30 Dealing with construction permits (rank) 171 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 2,260 Procedures (number) 24 Depth of credit information index (0-6) 6 Time (days) 365 Public registry coverage (% of adults) 37.0 Enforcing contracts (rank) 48 Cost (% of income per capita) 74.3 Private bureau coverage (% of adults) 100.0 Procedures (number) 36 Time (days) 590 Getting electricity (rank) 74 Protecting investors (rank) 117 Cost (% of claim) 16.5 Procedures (number) 6 Extent of disclosure index (0-10) 6 Time (days) 91 Extent of director liability index (0-10) 2 Resolving insolvency (rank) 94 Cost (% of income per capita) 36.0 Ease of shareholder suits index (0-10) 6 Time (years) 2.8 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 12 Recovery rate (cents on the dollar) 30.8 Paying taxes (rank) 149 Payments (number per year) 9 Time (hours per year) 405 Total tax rate (% of profit) 108.3 ARMENIA Eastern Europe & Central Asia GNI per capita (US$) 3,360 Ease of doing business (rank) 32 Lower middle income Population (m) 3.1 Starting a business (rank) 11 Registering property (rank) 4 Trading across borders (rank) 107 Procedures (number) 3 Procedures (number) 3 Documents to export (number) 5 Time (days) 8 Time (days) 7 Time to export (days) 13 Cost (% of income per capita) 2.5 Cost (% of property value) 0.2 Cost to export (US$ per container) 1,815 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 40 Time to import (days) 18 Dealing with construction permits (rank) 46 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 2,195 Procedures (number) 17 Depth of credit information index (0-6) 6 Time (days) 77 Public registry coverage (% of adults) 20.5 Enforcing contracts (rank) 91 Cost (% of income per capita) 50.1 Private bureau coverage (% of adults) 56.0 Procedures (number) 49 Time (days) 440 ✔ Getting electricity (rank) 101 ✔ Protecting investors (rank) 25 Cost (% of claim) 19.0 Procedures (number) 5 Extent of disclosure index (0-10) 6 Time (days) 242 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 63 Cost (% of income per capita) 107.3 Ease of shareholder suits index (0-10) 8 Time (years) 1.9 Strength of investor protection index (0-10) 6.7 Cost (% of estate) 4 Recovery rate (cents on the dollar) 41.2 Paying taxes (rank) 108 Payments (number per year) 13 Time (hours per year) 380 Total tax rate (% of profit) 38.8 AUSTRALIA OECD high income GNI per capita (US$) 65,477 Ease of doing business (rank) 10 High income Population (m) 22.6 Starting a business (rank) 2 Registering property (rank) 37 Trading across borders (rank) 44 Procedures (number) 2 Procedures (number) 5 Documents to export (number) 6 Time (days) 2 Time (days) 5 Time to export (days) 9 Cost (% of income per capita) 0.7 Cost (% of property value) 5.1 Cost to export (US$ per container) 1,100 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 ✔ Getting credit (rank) 4 Time to import (days) 8 Dealing with construction permits (rank) 11 Strength of legal rights index (0-10) 10 Cost to import (US$ per container) 1,120 Procedures (number) 11 Depth of credit information index (0-6) 5 Time (days) 112 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 15 Cost (% of income per capita) 13.4 Private bureau coverage (% of adults) 100.0 Procedures (number) 28 Time (days) 395 Getting electricity (rank) 36 Protecting investors (rank) 70 Cost (% of claim) 21.8 Procedures (number) 5 Extent of disclosure index (0-10) 8 Time (days) 75 Extent of director liability index (0-10) 2 Resolving insolvency (rank) 18 Cost (% of income per capita) 8.7 Ease of shareholder suits index (0-10) 7 Time (years) 1.0 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 8 Recovery rate (cents on the dollar) 80.8 Paying taxes (rank) 48 Payments (number per year) 11 Time (hours per year) 109 Total tax rate (% of profit) 47.5 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 148 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business AUSTRIA OECD high income GNI per capita (US$) 48,300 Ease of doing business (rank) 29 High income Population (m) 8.4 Starting a business (rank) 134 Registering property (rank) 34 Trading across borders (rank) 26 Procedures (number) 8 Procedures (number) 3 Documents to export (number) 4 Time (days) 25 Time (days) 21 Time to export (days) 8 Cost (% of income per capita) 4.9 Cost (% of property value) 4.6 Cost to export (US$ per container) 1,090 Minimum capital (% of income per capita) 49.1 Documents to import (number) 5 Getting credit (rank) 23 Time to import (days) 8 Dealing with construction permits (rank) 75 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,155 Procedures (number) 13 Depth of credit information index (0-6) 6 Time (days) 194 Public registry coverage (% of adults) 1.8 Enforcing contracts (rank) 7 Cost (% of income per capita) 57.3 Private bureau coverage (% of adults) 52.6 Procedures (number) 25 Time (days) 397 Getting electricity (rank) 24 Protecting investors (rank) 100 Cost (% of claim) 18.0 Procedures (number) 5 Extent of disclosure index (0-10) 5 Time (days) 23 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 12 Cost (% of income per capita) 104.5 Ease of shareholder suits index (0-10) 5 Time (years) 1.1 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 10 Recovery rate (cents on the dollar) 83.3 Paying taxes (rank) 77 Payments (number per year) 12 Time (hours per year) 170 Total tax rate (% of profit) 53.1 AZERBAIJAN Eastern Europe & Central Asia GNI per capita (US$) 5,290 Ease of doing business (rank) 67 Upper middle income Population (m) 9.2 Starting a business (rank) 18 Registering property (rank) 9 Trading across borders (rank) 169 Procedures (number) 6 Procedures (number) 4 Documents to export (number) 8 Time (days) 8 Time (days) 11 Time to export (days) 38 Cost (% of income per capita) 2.3 Cost (% of property value) 0.5 Cost to export (US$ per container) 3,430 Minimum capital (% of income per capita) 0.0 Documents to import (number) 10 Getting credit (rank) 53 Time to import (days) 38 Dealing with construction permits (rank) 177 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 3,490 Procedures (number) 28 Depth of credit information index (0-6) 5 Time (days) 212 Public registry coverage (% of adults) 17.7 Enforcing contracts (rank) 25 Cost (% of income per capita) 292.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 39 Time (days) 237 Getting electricity (rank) 175 Protecting investors (rank) 25 Cost (% of claim) 18.5 Procedures (number) 9 Extent of disclosure index (0-10) 7 Time (days) 241 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 95 Cost (% of income per capita) 591.2 Ease of shareholder suits index (0-10) 8 Time (years) 2.7 Strength of investor protection index (0-10) 6.7 Cost (% of estate) 8 Recovery rate (cents on the dollar) 30.6 Paying taxes (rank) 76 Payments (number per year) 18 Time (hours per year) 214 Total tax rate (% of profit) 40.0 BAHAMAS, THE Latin America & Caribbean GNI per capita (US$) 23,175 Ease of doing business (rank) 77 High income Population (m) 0.3 Starting a business (rank) 82 Registering property (rank) 179 Trading across borders (rank) 58 Procedures (number) 7 Procedures (number) 7 Documents to export (number) 5 Time (days) 31 Time (days) 122 Time to export (days) 19 Cost (% of income per capita) 10.3 Cost (% of property value) 13.5 Cost to export (US$ per container) 930 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 Getting credit (rank) 83 Time to import (days) 13 Dealing with construction permits (rank) 68 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,405 Procedures (number) 14 Depth of credit information index (0-6) 0 Time (days) 178 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 123 Cost (% of income per capita) 27.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 49 Time (days) 427 Getting electricity (rank) 43 Protecting investors (rank) 117 Cost (% of claim) 28.9 Procedures (number) 5 Extent of disclosure index (0-10) 2 Time (days) 67 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 35 Cost (% of income per capita) 103.0 Ease of shareholder suits index (0-10) 7 Time (years) 5.0 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 4 Recovery rate (cents on the dollar) 55.9 Paying taxes (rank) 51 Payments (number per year) 18 Time (hours per year) 58 Total tax rate (% of profit) 47.8 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 149 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business BAHRAIN Middle East & North Africa GNI per capita (US$) 23,132 Ease of doing business (rank) 42 High income Population (m) 1.3 Starting a business (rank) 88 Registering property (rank) 29 Trading across borders (rank) 54 Procedures (number) 7 Procedures (number) 2 Documents to export (number) 6 Time (days) 9 Time (days) 31 Time to export (days) 11 Cost (% of income per capita) 0.7 Cost (% of property value) 2.7 Cost to export (US$ per container) 955 Minimum capital (% of income per capita) 229.9 Documents to import (number) 7 Getting credit (rank) 129 Time to import (days) 15 Dealing with construction permits (rank) 7 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 995 Procedures (number) 12 Depth of credit information index (0-6) 3 Time (days) 43 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 113 Cost (% of income per capita) 9.5 Private bureau coverage (% of adults) 23.5 Procedures (number) 48 Time (days) 635 Getting electricity (rank) 48 Protecting investors (rank) 82 Cost (% of claim) 14.7 Procedures (number) 5 Extent of disclosure index (0-10) 8 Time (days) 90 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 27 Cost (% of income per capita) 56.3 Ease of shareholder suits index (0-10) 4 Time (years) 2.5 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 10 Recovery rate (cents on the dollar) 66.2 Paying taxes (rank) 7 Payments (number per year) 13 Time (hours per year) 36 Total tax rate (% of profit) 13.9 BANGLADESH South Asia GNI per capita (US$) 770 Ease of doing business (rank) 129 Low income Population (m) 150.5 Starting a business (rank) 95 Registering property (rank) 175 Trading across borders (rank) 119 Procedures (number) 7 Procedures (number) 8 Documents to export (number) 6 Time (days) 19 Time (days) 245 Time to export (days) 25 Cost (% of income per capita) 25.1 Cost (% of property value) 6.8 Cost to export (US$ per container) 1,025 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 ✔ Getting credit (rank) 83 Time to import (days) 34 Dealing with construction permits (rank) 83 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,430 Procedures (number) 11 Depth of credit information index (0-6) 2 Time (days) 201 Public registry coverage (% of adults) 0.8 Enforcing contracts (rank) 182 Cost (% of income per capita) 126.5 Private bureau coverage (% of adults) 0.0 Procedures (number) 41 Time (days) 1,442 ✘ Getting electricity (rank) 185 Protecting investors (rank) 25 Cost (% of claim) 63.3 Procedures (number) 9 Extent of disclosure index (0-10) 6 Time (days) 404 Extent of director liability index (0-10) 7 Resolving insolvency (rank) 119 Cost (% of income per capita) 5,193.8 Ease of shareholder suits index (0-10) 7 Time (years) 4.0 Strength of investor protection index (0-10) 6.7 Cost (% of estate) 8 Recovery rate (cents on the dollar) 25.5 Paying taxes (rank) 97 Payments (number per year) 20 Time (hours per year) 302 Total tax rate (% of profit) 35.0 BARBADOS Latin America & Caribbean GNI per capita (US$) 16,149 Ease of doing business (rank) 88 High income Population (m) 0.3 Starting a business (rank) 70 Registering property (rank) 154 Trading across borders (rank) 31 Procedures (number) 8 Procedures (number) 6 Documents to export (number) 5 Time (days) 18 Time (days) 153 Time to export (days) 9 Cost (% of income per capita) 7.2 Cost (% of property value) 7.3 Cost to export (US$ per container) 810 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 Getting credit (rank) 83 Time to import (days) 8 Dealing with construction permits (rank) 53 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,615 Procedures (number) 10 Depth of credit information index (0-6) 0 Time (days) 416 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 105 Cost (% of income per capita) 8.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 38 Time (days) 1,340 Getting electricity (rank) 81 Protecting investors (rank) 169 Cost (% of claim) 19.7 Procedures (number) 7 Extent of disclosure index (0-10) 2 Time (days) 65 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 28 Cost (% of income per capita) 60.3 Ease of shareholder suits index (0-10) 6 Time (years) 1.8 Strength of investor protection index (0-10) 3.0 Cost (% of estate) 15 Recovery rate (cents on the dollar) 65.1 Paying taxes (rank) 121 Payments (number per year) 28 Time (hours per year) 237 Total tax rate (% of profit) 45.4 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 150 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business BELARUS Eastern Europe & Central Asia GNI per capita (US$) 5,830 Ease of doing business (rank) 58 Upper middle income Population (m) 9.5 ✘ Starting a business (rank) 9 Registering property (rank) 3 Trading across borders (rank) 151 Procedures (number) 5 Procedures (number) 2 Documents to export (number) 9 Time (days) 5 Time (days) 10 Time to export (days) 15 Cost (% of income per capita) 2.3 Cost (% of property value) 0.0 Cost to export (US$ per container) 1,510 Minimum capital (% of income per capita) 0.0 Documents to import (number) 10 Getting credit (rank) 104 Time to import (days) 30 Dealing with construction permits (rank) 30 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 2,315 Procedures (number) 12 Depth of credit information index (0-6) 5 Time (days) 130 Public registry coverage (% of adults) 56.2 Enforcing contracts (rank) 13 Cost (% of income per capita) 24.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 29 Time (days) 275 Getting electricity (rank) 171 Protecting investors (rank) 82 Cost (% of claim) 23.4 Procedures (number) 7 Extent of disclosure index (0-10) 7 Time (days) 179 Extent of director liability index (0-10) 1 ✔ Resolving insolvency (rank) 56 Cost (% of income per capita) 838.8 Ease of shareholder suits index (0-10) 8 Time (years) 3.0 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 22 Recovery rate (cents on the dollar) 43.0 ✔ Paying taxes (rank) 129 Payments (number per year) 10 Time (hours per year) 338 Total tax rate (% of profit) 60.7 BELGIUM OECD high income GNI per capita (US$) 46,160 Ease of doing business (rank) 33 High income Population (m) 11.0 Starting a business (rank) 44 Registering property (rank) 176 Trading across borders (rank) 29 Procedures (number) 3 Procedures (number) 8 Documents to export (number) 4 Time (days) 4 Time (days) 64 Time to export (days) 9 Cost (% of income per capita) 5.2 Cost (% of property value) 12.7 Cost to export (US$ per container) 1,230 Minimum capital (% of income per capita) 18.2 Documents to import (number) 5 Getting credit (rank) 70 Time to import (days) 9 Dealing with construction permits (rank) 57 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,400 Procedures (number) 11 Depth of credit information index (0-6) 4 Time (days) 205 Public registry coverage (% of adults) 89.0 Enforcing contracts (rank) 18 Cost (% of income per capita) 54.2 Private bureau coverage (% of adults) 0.0 Procedures (number) 26 Time (days) 505 Getting electricity (rank) 82 Protecting investors (rank) 19 Cost (% of claim) 17.7 Procedures (number) 6 Extent of disclosure index (0-10) 8 Time (days) 88 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 7 Cost (% of income per capita) 92.6 Ease of shareholder suits index (0-10) 7 Time (years) 0.9 Strength of investor protection index (0-10) 7.0 Cost (% of estate) 4 Recovery rate (cents on the dollar) 88.7 Paying taxes (rank) 75 Payments (number per year) 11 Time (hours per year) 156 Total tax rate (% of profit) 57.7 BELIZE Latin America & Caribbean GNI per capita (US$) 3,690 Ease of doing business (rank) 105 Lower middle income Population (m) 0.4 Starting a business (rank) 158 Registering property (rank) 136 ✔ Trading across borders (rank) 102 Procedures (number) 9 Procedures (number) 8 Documents to export (number) 6 Time (days) 44 Time (days) 60 Time to export (days) 19 Cost (% of income per capita) 51.9 Cost (% of property value) 4.8 Cost to export (US$ per container) 1,355 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 Getting credit (rank) 129 Time to import (days) 20 Dealing with construction permits (rank) 21 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,600 Procedures (number) 8 Depth of credit information index (0-6) 0 Time (days) 91 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 169 Cost (% of income per capita) 97.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 51 Time (days) 892 Getting electricity (rank) 58 Protecting investors (rank) 128 Cost (% of claim) 27.5 Procedures (number) 5 Extent of disclosure index (0-10) 3 Time (days) 66 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 30 Cost (% of income per capita) 400.5 Ease of shareholder suits index (0-10) 6 Time (years) 1.0 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 23 Recovery rate (cents on the dollar) 64.0 Paying taxes (rank) 45 Payments (number per year) 29 Time (hours per year) 147 Total tax rate (% of profit) 33.2 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 151 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business BENIN Sub-Saharan Africa GNI per capita (US$) 780 Ease of doing business (rank) 175 Low income Population (m) 9.1 ✔ Starting a business (rank) 153 Registering property (rank) 133 ✔ Trading across borders (rank) 130 Procedures (number) 5 Procedures (number) 4 Documents to export (number) 7 Time (days) 26 Time (days) 120 Time to export (days) 29 Cost (% of income per capita) 126.8 Cost (% of property value) 11.8 Cost to export (US$ per container) 1,079 Minimum capital (% of income per capita) 264.5 Documents to import (number) 8 Getting credit (rank) 129 Time to import (days) 30 ✔ Dealing with construction permits (rank) 111 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,549 Procedures (number) 11 Depth of credit information index (0-6) 1 Time (days) 282 Public registry coverage (% of adults) 10.9 ✔ Enforcing contracts (rank) 178 Cost (% of income per capita) 167.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 42 Time (days) 795 Getting electricity (rank) 141 Protecting investors (rank) 158 Cost (% of claim) 64.7 Procedures (number) 4 Extent of disclosure index (0-10) 6 Time (days) 158 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 132 Cost (% of income per capita) 14,343.1 Ease of shareholder suits index (0-10) 3 Time (years) 4.0 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 22 Recovery rate (cents on the dollar) 20.2 Paying taxes (rank) 173 Payments (number per year) 55 Time (hours per year) 270 Total tax rate (% of profit) 65.9 BHUTAN South Asia GNI per capita (US$) 2,070 Ease of doing business (rank) 148 Lower middle income Population (m) 0.7 Starting a business (rank) 94 Registering property (rank) 85 Trading across borders (rank) 172 Procedures (number) 8 Procedures (number) 3 Documents to export (number) 9 Time (days) 36 Time (days) 92 Time to export (days) 38 Cost (% of income per capita) 6.5 Cost (% of property value) 5.0 Cost to export (US$ per container) 2,230 Minimum capital (% of income per capita) 0.0 Documents to import (number) 12 Getting credit (rank) 129 Time to import (days) 38 Dealing with construction permits (rank) 124 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 2,330 Procedures (number) 22 Depth of credit information index (0-6) 4 Time (days) 150 Public registry coverage (% of adults) 13.5 Enforcing contracts (rank) 37 Cost (% of income per capita) 92.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 47 Time (days) 225 Getting electricity (rank) 136 Protecting investors (rank) 150 Cost (% of claim) 0.1 Procedures (number) 6 Extent of disclosure index (0-10) 4 Time (days) 90 Extent of director liability index (0-10) 3 Resolving insolvency (rank) 185 Cost (% of income per capita) 1,149.6 Ease of shareholder suits index (0-10) 4 Time (years) NO PRACTICE Strength of investor protection index (0-10) 3.7 Cost (% of estate) NO PRACTICE Recovery rate (cents on the dollar) 0.0 Paying taxes (rank) 71 Payments (number per year) 8 Time (hours per year) 274 Total tax rate (% of profit) 40.8 BOLIVIA Latin America & Caribbean GNI per capita (US$) 2,040 Ease of doing business (rank) 155 Lower middle income Population (m) 10.1 Starting a business (rank) 174 Registering property (rank) 139 Trading across borders (rank) 125 Procedures (number) 15 Procedures (number) 7 Documents to export (number) 8 Time (days) 50 Time (days) 92 Time to export (days) 19 Cost (% of income per capita) 74.1 Cost (% of property value) 4.7 Cost to export (US$ per container) 1,425 Minimum capital (% of income per capita) 1.9 Documents to import (number) 7 Getting credit (rank) 129 Time to import (days) 23 Dealing with construction permits (rank) 114 Strength of legal rights index (0-10) 1 Cost to import (US$ per container) 1,747 Procedures (number) 14 Depth of credit information index (0-6) 6 Time (days) 249 Public registry coverage (% of adults) 14.8 Enforcing contracts (rank) 136 Cost (% of income per capita) 63.6 Private bureau coverage (% of adults) 34.7 Procedures (number) 40 Time (days) 591 Getting electricity (rank) 126 Protecting investors (rank) 139 Cost (% of claim) 33.2 Procedures (number) 8 Extent of disclosure index (0-10) 1 Time (days) 42 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 68 Cost (% of income per capita) 1,036.1 Ease of shareholder suits index (0-10) 6 Time (years) 1.8 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 15 Recovery rate (cents on the dollar) 39.0 Paying taxes (rank) 180 Payments (number per year) 42 Time (hours per year) 1,025 Total tax rate (% of profit) 83.4 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 152 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business BOSNIA AND HERZEGOVINA Eastern Europe & Central Asia GNI per capita (US$) 4,780 Ease of doing business (rank) 126 Upper middle income Population (m) 3.8 Starting a business (rank) 162 ✔ Registering property (rank) 93 Trading across borders (rank) 103 Procedures (number) 11 Procedures (number) 7 Documents to export (number) 8 Time (days) 37 Time (days) 25 Time to export (days) 15 Cost (% of income per capita) 14.9 Cost (% of property value) 5.3 Cost to export (US$ per container) 1,240 Minimum capital (% of income per capita) 29.1 Documents to import (number) 9 ✘ Getting credit (rank) 70 Time to import (days) 13 Dealing with construction permits (rank) 163 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 1,200 Procedures (number) 17 Depth of credit information index (0-6) 5 Time (days) 180 Public registry coverage (% of adults) 36.2 Enforcing contracts (rank) 120 Cost (% of income per capita) 1,102.1 Private bureau coverage (% of adults) 4.8 Procedures (number) 37 Time (days) 595 Getting electricity (rank) 158 Protecting investors (rank) 100 Cost (% of claim) 34.0 Procedures (number) 8 Extent of disclosure index (0-10) 3 Time (days) 125 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 83 Cost (% of income per capita) 493.3 Ease of shareholder suits index (0-10) 6 Time (years) 3.3 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 9 Recovery rate (cents on the dollar) 35.4 ✔ Paying taxes (rank) 128 Payments (number per year) 44 Time (hours per year) 407 Total tax rate (% of profit) 24.1 BOTSWANA Sub-Saharan Africa GNI per capita (US$) 7,480 Ease of doing business (rank) 59 Upper middle income Population (m) 2.0 Starting a business (rank) 99 Registering property (rank) 51 ✔ Trading across borders (rank) 147 Procedures (number) 10 Procedures (number) 5 Documents to export (number) 6 Time (days) 61 Time (days) 16 Time to export (days) 27 Cost (% of income per capita) 1.6 Cost (% of property value) 5.1 Cost to export (US$ per container) 2,945 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 Getting credit (rank) 53 Time to import (days) 37 Dealing with construction permits (rank) 132 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 3,445 Procedures (number) 22 Depth of credit information index (0-6) 4 Time (days) 145 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 68 Cost (% of income per capita) 172.7 Private bureau coverage (% of adults) 58.9 Procedures (number) 28 Time (days) 625 Getting electricity (rank) 90 Protecting investors (rank) 49 Cost (% of claim) 28.1 Procedures (number) 5 Extent of disclosure index (0-10) 7 Time (days) 121 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 29 Cost (% of income per capita) 353.8 Ease of shareholder suits index (0-10) 3 Time (years) 1.7 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 15 Recovery rate (cents on the dollar) 64.8 ✘ Paying taxes (rank) 39 Payments (number per year) 32 Time (hours per year) 152 Total tax rate (% of profit) 25.3 BRAZIL Latin America & Caribbean GNI per capita (US$) 10,720 Ease of doing business (rank) 130 Upper middle income Population (m) 196.7 Starting a business (rank) 121 ✘ Registering property (rank) 109 Trading across borders (rank) 123 Procedures (number) 13 Procedures (number) 14 Documents to export (number) 7 Time (days) 119 Time (days) 34 Time to export (days) 13 Cost (% of income per capita) 4.8 Cost (% of property value) 2.6 Cost to export (US$ per container) 2,215 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 104 Time to import (days) 17 Dealing with construction permits (rank) 131 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 2,275 Procedures (number) 17 Depth of credit information index (0-6) 5 Time (days) 469 Public registry coverage (% of adults) 46.8 ✔ Enforcing contracts (rank) 116 Cost (% of income per capita) 36.0 Private bureau coverage (% of adults) 62.2 Procedures (number) 44 Time (days) 731 Getting electricity (rank) 60 Protecting investors (rank) 82 Cost (% of claim) 16.5 Procedures (number) 6 Extent of disclosure index (0-10) 6 Time (days) 57 Extent of director liability index (0-10) 7 Resolving insolvency (rank) 143 Cost (% of income per capita) 116.7 Ease of shareholder suits index (0-10) 3 Time (years) 4.0 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 12 Recovery rate (cents on the dollar) 15.9 Paying taxes (rank) 156 Payments (number per year) 9 Time (hours per year) 2,600 Total tax rate (% of profit) 69.3 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 153 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business BRUNEI DARUSSALAM East Asia & Pacific GNI per capita (US$) 36,584 Ease of doing business (rank) 79 High income Population (m) 0.4 Starting a business (rank) 135 Registering property (rank) 115 Trading across borders (rank) 40 Procedures (number) 15 Procedures (number) 7 Documents to export (number) 6 Time (days) 101 Time (days) 298 Time to export (days) 19 Cost (% of income per capita) 10.7 Cost (% of property value) 0.6 Cost to export (US$ per container) 680 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 Getting credit (rank) 129 Time to import (days) 15 ✔ Dealing with construction permits (rank) 43 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 745 Procedures (number) 22 Depth of credit information index (0-6) 0 Time (days) 95 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 158 Cost (% of income per capita) 4.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 47 Time (days) 540 Getting electricity (rank) 29 Protecting investors (rank) 117 Cost (% of claim) 36.6 Procedures (number) 5 Extent of disclosure index (0-10) 4 Time (days) 56 Extent of director liability index (0-10) 2 Resolving insolvency (rank) 46 Cost (% of income per capita) 40.6 Ease of shareholder suits index (0-10) 8 Time (years) 2.5 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 4 Recovery rate (cents on the dollar) 47.2 ✔ Paying taxes (rank) 22 Payments (number per year) 27 Time (hours per year) 96 Total tax rate (% of profit) 16.8 BULGARIA Eastern Europe & Central Asia GNI per capita (US$) 6,550 Ease of doing business (rank) 66 Upper middle income Population (m) 7.5 ✔ Starting a business (rank) 57 Registering property (rank) 68 Trading across borders (rank) 93 Procedures (number) 4 Procedures (number) 8 Documents to export (number) 5 Time (days) 18 Time (days) 15 Time to export (days) 21 Cost (% of income per capita) 1.1 Cost (% of property value) 2.9 Cost to export (US$ per container) 1,551 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 Getting credit (rank) 40 Time to import (days) 17 Dealing with construction permits (rank) 123 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,626 Procedures (number) 21 Depth of credit information index (0-6) 4 Time (days) 107 Public registry coverage (% of adults) 56.3 Enforcing contracts (rank) 86 Cost (% of income per capita) 293.5 Private bureau coverage (% of adults) 0.0 Procedures (number) 39 Time (days) 564 Getting electricity (rank) 128 Protecting investors (rank) 49 Cost (% of claim) 23.8 Procedures (number) 6 Extent of disclosure index (0-10) 10 Time (days) 130 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 93 Cost (% of income per capita) 340.7 Ease of shareholder suits index (0-10) 7 Time (years) 3.3 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 9 Recovery rate (cents on the dollar) 31.7 Paying taxes (rank) 91 Payments (number per year) 15 Time (hours per year) 454 Total tax rate (% of profit) 28.7 BURKINA FASO Sub-Saharan Africa GNI per capita (US$) 570 Ease of doing business (rank) 153 Low income Population (m) 17.0 Starting a business (rank) 120 Registering property (rank) 113 Trading across borders (rank) 173 Procedures (number) 3 Procedures (number) 4 Documents to export (number) 10 Time (days) 13 Time (days) 59 Time to export (days) 41 Cost (% of income per capita) 46.8 Cost (% of property value) 12.6 Cost to export (US$ per container) 2,412 Minimum capital (% of income per capita) 353.9 Documents to import (number) 10 Getting credit (rank) 129 Time to import (days) 47 Dealing with construction permits (rank) 64 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 4,030 Procedures (number) 12 Depth of credit information index (0-6) 1 Time (days) 98 Public registry coverage (% of adults) 1.7 Enforcing contracts (rank) 109 Cost (% of income per capita) 380.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 37 Time (days) 446 Getting electricity (rank) 139 Protecting investors (rank) 150 Cost (% of claim) 81.7 Procedures (number) 4 Extent of disclosure index (0-10) 6 Time (days) 158 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 113 Cost (% of income per capita) 12,662.0 Ease of shareholder suits index (0-10) 4 Time (years) 4.0 Strength of investor protection index (0-10) 3.7 Cost (% of estate) 9 Recovery rate (cents on the dollar) 27.3 Paying taxes (rank) 157 Payments (number per year) 46 Time (hours per year) 270 Total tax rate (% of profit) 43.6 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 154 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business BURUNDI Sub-Saharan Africa GNI per capita (US$) 250 Ease of doing business (rank) 159 Low income Population (m) 8.6 ✔ Starting a business (rank) 28 ✔ Registering property (rank) 127 ✔ Trading across borders (rank) 177 Procedures (number) 4 Procedures (number) 8 Documents to export (number) 10 Time (days) 8 Time (days) 64 Time to export (days) 32 Cost (% of income per capita) 18.3 Cost (% of property value) 3.3 Cost to export (US$ per container) 2,965 Minimum capital (% of income per capita) 0.0 Documents to import (number) 11 Getting credit (rank) 167 Time to import (days) 46 ✔ Dealing with construction permits (rank) 141 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 5,005 Procedures (number) 21 Depth of credit information index (0-6) 1 Time (days) 99 Public registry coverage (% of adults) 0.3 Enforcing contracts (rank) 175 Cost (% of income per capita) 1,911.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 44 Time (days) 832 Getting electricity (rank) 164 Protecting investors (rank) 49 Cost (% of claim) 38.6 Procedures (number) 5 Extent of disclosure index (0-10) 8 Time (days) 188 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 161 Cost (% of income per capita) 21,481.7 Ease of shareholder suits index (0-10) 4 Time (years) 5.0 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 30 Recovery rate (cents on the dollar) 8.0 Paying taxes (rank) 137 Payments (number per year) 25 Time (hours per year) 274 Total tax rate (% of profit) 53.0 CAMBODIA East Asia & Pacific GNI per capita (US$) 830 Ease of doing business (rank) 133 Low income Population (m) 14.3 Starting a business (rank) 175 Registering property (rank) 115 Trading across borders (rank) 118 Procedures (number) 9 Procedures (number) 7 Documents to export (number) 9 Time (days) 85 Time (days) 56 Time to export (days) 22 Cost (% of income per capita) 100.5 Cost (% of property value) 4.3 Cost to export (US$ per container) 755 Minimum capital (% of income per capita) 28.5 Documents to import (number) 10 ✔ Getting credit (rank) 53 Time to import (days) 26 Dealing with construction permits (rank) 149 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 900 Procedures (number) 21 Depth of credit information index (0-6) 3 Time (days) 652 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 142 Cost (% of income per capita) 36.9 Private bureau coverage (% of adults) 12.1 Procedures (number) 44 Time (days) 401 Getting electricity (rank) 132 Protecting investors (rank) 82 Cost (% of claim) 103.4 Procedures (number) 4 Extent of disclosure index (0-10) 5 Time (days) 183 Extent of director liability index (0-10) 9 Resolving insolvency (rank) 152 Cost (% of income per capita) 2,802.0 Ease of shareholder suits index (0-10) 2 Time (years) 6.0 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 15 Recovery rate (cents on the dollar) 12.8 ✘ Paying taxes (rank) 66 Payments (number per year) 40 Time (hours per year) 173 Total tax rate (% of profit) 22.5 CAMEROON Sub-Saharan Africa GNI per capita (US$) 1,210 Ease of doing business (rank) 161 Lower middle income Population (m) 20.0 Starting a business (rank) 125 Registering property (rank) 158 Trading across borders (rank) 157 Procedures (number) 5 Procedures (number) 5 Documents to export (number) 11 Time (days) 15 Time (days) 93 Time to export (days) 23 Cost (% of income per capita) 35.8 Cost (% of property value) 19.1 Cost to export (US$ per container) 1,379 Minimum capital (% of income per capita) 168.3 Documents to import (number) 12 Getting credit (rank) 104 Time to import (days) 25 Dealing with construction permits (rank) 95 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 2,167 Procedures (number) 11 Depth of credit information index (0-6) 2 Time (days) 147 Public registry coverage (% of adults) 9.1 ✔ Enforcing contracts (rank) 172 Cost (% of income per capita) 1,008.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 42 Time (days) 800 Getting electricity (rank) 63 Protecting investors (rank) 128 Cost (% of claim) 46.6 Procedures (number) 4 Extent of disclosure index (0-10) 6 Time (days) 64 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 150 Cost (% of income per capita) 1,772.8 Ease of shareholder suits index (0-10) 6 Time (years) 3.2 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 34 Recovery rate (cents on the dollar) 13.6 Paying taxes (rank) 176 Payments (number per year) 44 Time (hours per year) 654 Total tax rate (% of profit) 49.1 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 155 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business CANADA OECD high income GNI per capita (US$) 45,560 Ease of doing business (rank) 17 High income Population (m) 34.5 Starting a business (rank) 3 Registering property (rank) 54 Trading across borders (rank) 44 Procedures (number) 1 Procedures (number) 6 Documents to export (number) 3 Time (days) 5 Time (days) 17 Time to export (days) 7 Cost (% of income per capita) 0.4 Cost (% of property value) 3.4 Cost to export (US$ per container) 1,610 Minimum capital (% of income per capita) 0.0 Documents to import (number) 4 Getting credit (rank) 23 Time to import (days) 11 Dealing with construction permits (rank) 69 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,660 Procedures (number) 13 Depth of credit information index (0-6) 6 Time (days) 163 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 62 Cost (% of income per capita) 64.1 Private bureau coverage (% of adults) 100.0 Procedures (number) 36 Time (days) 570 ✔ Getting electricity (rank) 152 Protecting investors (rank) 4 Cost (% of claim) 22.3 Procedures (number) 8 Extent of disclosure index (0-10) 8 Time (days) 142 Extent of director liability index (0-10) 9 Resolving insolvency (rank) 4 Cost (% of income per capita) 140.4 Ease of shareholder suits index (0-10) 9 Time (years) 0.8 Strength of investor protection index (0-10) 8.7 Cost (% of estate) 4 Recovery rate (cents on the dollar) 90.7 Paying taxes (rank) 8 Payments (number per year) 8 Time (hours per year) 131 Total tax rate (% of profit) 26.9 CAPE VERDE Sub-Saharan Africa GNI per capita (US$) 3,540 Ease of doing business (rank) 122 Lower middle income Population (m) 0.5 Starting a business (rank) 129 Registering property (rank) 69 Trading across borders (rank) 63 Procedures (number) 8 Procedures (number) 6 Documents to export (number) 5 Time (days) 11 Time (days) 31 Time to export (days) 19 Cost (% of income per capita) 14.9 Cost (% of property value) 3.7 Cost to export (US$ per container) 1,200 Minimum capital (% of income per capita) 34.2 Documents to import (number) 5 Getting credit (rank) 104 Time to import (days) 18 Dealing with construction permits (rank) 122 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,000 Procedures (number) 17 Depth of credit information index (0-6) 5 Time (days) 122 Public registry coverage (% of adults) 19.7 Enforcing contracts (rank) 38 Cost (% of income per capita) 459.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 37 Time (days) 425 Getting electricity (rank) 106 Protecting investors (rank) 139 Cost (% of claim) 19.8 Procedures (number) 6 Extent of disclosure index (0-10) 1 Time (days) 58 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 185 Cost (% of income per capita) 981.3 Ease of shareholder suits index (0-10) 6 Time (years) NO PRACTICE Strength of investor protection index (0-10) 4.0 Cost (% of estate) NO PRACTICE Recovery rate (cents on the dollar) 0.0 Paying taxes (rank) 102 Payments (number per year) 41 Time (hours per year) 186 Total tax rate (% of profit) 37.2 CENTRAL AFRICAN REPUBLIC Sub-Saharan Africa GNI per capita (US$) 470 Ease of doing business (rank) 185 Low income Population (m) 4.5 Starting a business (rank) 170 Registering property (rank) 132 Trading across borders (rank) 182 Procedures (number) 8 Procedures (number) 5 Documents to export (number) 9 Time (days) 22 Time (days) 75 Time to export (days) 54 Cost (% of income per capita) 172.6 Cost (% of property value) 11.0 Cost to export (US$ per container) 5,491 Minimum capital (% of income per capita) 444.1 Documents to import (number) 17 Getting credit (rank) 104 Time to import (days) 62 ✘ Dealing with construction permits (rank) 147 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 5,554 Procedures (number) 18 Depth of credit information index (0-6) 2 Time (days) 203 Public registry coverage (% of adults) 2.4 Enforcing contracts (rank) 177 Cost (% of income per capita) 194.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 43 Time (days) 660 Getting electricity (rank) 173 Protecting investors (rank) 139 Cost (% of claim) 82.0 Procedures (number) 7 Extent of disclosure index (0-10) 6 Time (days) 102 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 185 Cost (% of income per capita) 12,603.6 Ease of shareholder suits index (0-10) 5 Time (years) 4.8 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 76 Recovery rate (cents on the dollar) 0.0 Paying taxes (rank) 181 Payments (number per year) 55 Time (hours per year) 504 Total tax rate (% of profit) 65.2 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 156 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business CHAD Sub-Saharan Africa GNI per capita (US$) 690 Ease of doing business (rank) 184 Low income Population (m) 11.5 ✔ Starting a business (rank) 181 Registering property (rank) 140 Trading across borders (rank) 180 Procedures (number) 9 Procedures (number) 6 Documents to export (number) 8 Time (days) 62 Time (days) 44 Time to export (days) 75 Cost (% of income per capita) 202.0 Cost (% of property value) 17.9 Cost to export (US$ per container) 5,902 Minimum capital (% of income per capita) 289.4 Documents to import (number) 11 Getting credit (rank) 104 Time to import (days) 101 Dealing with construction permits (rank) 127 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 8,525 Procedures (number) 13 Depth of credit information index (0-6) 2 Time (days) 154 Public registry coverage (% of adults) 1.0 Enforcing contracts (rank) 167 Cost (% of income per capita) 5,106.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 41 Time (days) 743 Getting electricity (rank) 149 Protecting investors (rank) 158 Cost (% of claim) 45.7 Procedures (number) 6 Extent of disclosure index (0-10) 6 Time (days) 67 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 185 Cost (% of income per capita) 11,017.6 Ease of shareholder suits index (0-10) 3 Time (years) 4.0 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 60 Recovery rate (cents on the dollar) 0.0 Paying taxes (rank) 184 Payments (number per year) 54 Time (hours per year) 732 Total tax rate (% of profit) 65.4 CHILE Latin America & Caribbean GNI per capita (US$) 12,280 Ease of doing business (rank) 37 Upper middle income Population (m) 17.3 Starting a business (rank) 32 Registering property (rank) 55 Trading across borders (rank) 48 Procedures (number) 7 Procedures (number) 6 Documents to export (number) 6 Time (days) 8 Time (days) 31 Time to export (days) 15 Cost (% of income per capita) 4.5 Cost (% of property value) 1.3 Cost to export (US$ per container) 980 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 Getting credit (rank) 53 Time to import (days) 12 Dealing with construction permits (rank) 84 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 965 Procedures (number) 15 Depth of credit information index (0-6) 5 Time (days) 155 Public registry coverage (% of adults) 37.4 Enforcing contracts (rank) 70 Cost (% of income per capita) 67.3 Private bureau coverage (% of adults) 3.5 Procedures (number) 36 Time (days) 480 Getting electricity (rank) 40 Protecting investors (rank) 32 Cost (% of claim) 28.6 Procedures (number) 6 Extent of disclosure index (0-10) 8 Time (days) 31 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 98 Cost (% of income per capita) 67.6 Ease of shareholder suits index (0-10) 5 Time (years) 3.2 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 15 Recovery rate (cents on the dollar) 30.0 Paying taxes (rank) 36 Payments (number per year) 6 Time (hours per year) 291 Total tax rate (% of profit) 28.1 CHINA East Asia & Pacific GNI per capita (US$) 4,930 Ease of doing business (rank) 91 Upper middle income Population (m) 1,344.1 ✔ Starting a business (rank) 151 Registering property (rank) 44 Trading across borders (rank) 68 Procedures (number) 13 Procedures (number) 4 Documents to export (number) 8 Time (days) 33 Time (days) 29 Time to export (days) 21 Cost (% of income per capita) 2.1 Cost (% of property value) 3.6 Cost to export (US$ per container) 580 Minimum capital (% of income per capita) 85.7 Documents to import (number) 5 Getting credit (rank) 70 Time to import (days) 24 ✔ Dealing with construction permits (rank) 181 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 615 Procedures (number) 28 Depth of credit information index (0-6) 4 Time (days) 270 Public registry coverage (% of adults) 27.7 Enforcing contracts (rank) 19 Cost (% of income per capita) 375.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 37 Time (days) 406 Getting electricity (rank) 114 Protecting investors (rank) 100 Cost (% of claim) 11.1 Procedures (number) 5 Extent of disclosure index (0-10) 10 Time (days) 145 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 82 Cost (% of income per capita) 547.0 Ease of shareholder suits index (0-10) 4 Time (years) 1.7 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 22 Recovery rate (cents on the dollar) 35.7 Paying taxes (rank) 122 Payments (number per year) 7 Time (hours per year) 338 Total tax rate (% of profit) 63.7 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 157 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business COLOMBIA Latin America & Caribbean GNI per capita (US$) 6,110 Ease of doing business (rank) 45 Upper middle income Population (m) 46.9 ✔ Starting a business (rank) 61 Registering property (rank) 52 Trading across borders (rank) 91 Procedures (number) 8 Procedures (number) 7 Documents to export (number) 5 Time (days) 13 Time (days) 15 Time to export (days) 14 Cost (% of income per capita) 7.3 Cost (% of property value) 2.0 Cost to export (US$ per container) 2,255 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 Getting credit (rank) 70 Time to import (days) 13 Dealing with construction permits (rank) 27 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 2,830 Procedures (number) 8 Depth of credit information index (0-6) 5 Time (days) 46 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 154 Cost (% of income per capita) 312.0 Private bureau coverage (% of adults) 72.5 Procedures (number) 34 Time (days) 1,346 Getting electricity (rank) 134 Protecting investors (rank) 6 Cost (% of claim) 47.9 Procedures (number) 5 Extent of disclosure index (0-10) 8 Time (days) 165 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 21 Cost (% of income per capita) 995.0 Ease of shareholder suits index (0-10) 9 Time (years) 1.3 Strength of investor protection index (0-10) 8.3 Cost (% of estate) 6 Recovery rate (cents on the dollar) 76.2 Paying taxes (rank) 99 Payments (number per year) 9 Time (hours per year) 203 Total tax rate (% of profit) 74.4 COMOROS Sub-Saharan Africa GNI per capita (US$) 770 Ease of doing business (rank) 158 Low income Population (m) 0.8 ✔ Starting a business (rank) 168 ✔ Registering property (rank) 77 Trading across borders (rank) 146 Procedures (number) 9 Procedures (number) 4 Documents to export (number) 9 Time (days) 20 Time (days) 30 Time to export (days) 31 Cost (% of income per capita) 150.0 Cost (% of property value) 10.5 Cost to export (US$ per container) 1,295 Minimum capital (% of income per capita) 261.9 Documents to import (number) 10 Getting credit (rank) 154 Time to import (days) 26 Dealing with construction permits (rank) 60 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,295 Procedures (number) 13 Depth of credit information index (0-6) 0 Time (days) 143 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 159 Cost (% of income per capita) 74.5 Private bureau coverage (% of adults) 0.0 Procedures (number) 43 Time (days) 506 Getting electricity (rank) 104 Protecting investors (rank) 139 Cost (% of claim) 89.4 Procedures (number) 3 Extent of disclosure index (0-10) 6 Time (days) 120 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 185 Cost (% of income per capita) 2,477.2 Ease of shareholder suits index (0-10) 5 Time (years) NO PRACTICE Strength of investor protection index (0-10) 4.0 Cost (% of estate) NO PRACTICE Recovery rate (cents on the dollar) 0.0 Paying taxes (rank) 114 Payments (number per year) 33 Time (hours per year) 100 Total tax rate (% of profit) 217.9 CONGO, DEM. REP. Sub-Saharan Africa GNI per capita (US$) 190 Ease of doing business (rank) 181 Low income Population (m) 67.8 ✔ Starting a business (rank) 149 Registering property (rank) 106 Trading across borders (rank) 170 Procedures (number) 10 Procedures (number) 6 Documents to export (number) 8 Time (days) 58 Time (days) 47 Time to export (days) 44 Cost (% of income per capita) 284.7 Cost (% of property value) 6.7 Cost to export (US$ per container) 3,155 Minimum capital (% of income per capita) 0.0 Documents to import (number) 9 Getting credit (rank) 176 Time to import (days) 63 Dealing with construction permits (rank) 81 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 3,435 Procedures (number) 11 Depth of credit information index (0-6) 0 Time (days) 117 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 173 Cost (% of income per capita) 1,582.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 43 Time (days) 610 Getting electricity (rank) 140 Protecting investors (rank) 158 Cost (% of claim) 147.6 Procedures (number) 6 Extent of disclosure index (0-10) 3 Time (days) 58 Extent of director liability index (0-10) 3 Resolving insolvency (rank) 168 Cost (% of income per capita) 27,211.6 Ease of shareholder suits index (0-10) 4 Time (years) 5.2 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 29 Recovery rate (cents on the dollar) 1.6 Paying taxes (rank) 171 Payments (number per year) 32 Time (hours per year) 336 Total tax rate (% of profit) 339.7 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 158 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business CONGO, REP. Sub-Saharan Africa GNI per capita (US$) 2,270 Ease of doing business (rank) 183 Lower middle income Population (m) 4.1 ✔ Starting a business (rank) 180 Registering property (rank) 156 Trading across borders (rank) 181 Procedures (number) 11 Procedures (number) 6 Documents to export (number) 11 Time (days) 161 Time (days) 55 Time to export (days) 50 Cost (% of income per capita) 55.3 Cost (% of property value) 21.3 Cost to export (US$ per container) 3,818 Minimum capital (% of income per capita) 80.5 Documents to import (number) 10 Getting credit (rank) 104 Time to import (days) 62 ✔ Dealing with construction permits (rank) 149 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 7,709 Procedures (number) 14 Depth of credit information index (0-6) 2 Time (days) 201 Public registry coverage (% of adults) 8.3 Enforcing contracts (rank) 162 Cost (% of income per capita) 1,151.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 44 Time (days) 560 Getting electricity (rank) 170 Protecting investors (rank) 158 Cost (% of claim) 53.2 Procedures (number) 6 Extent of disclosure index (0-10) 6 Time (days) 135 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 136 Cost (% of income per capita) 4,775.3 Ease of shareholder suits index (0-10) 3 Time (years) 3.3 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 25 Recovery rate (cents on the dollar) 17.8 Paying taxes (rank) 182 Payments (number per year) 61 Time (hours per year) 606 Total tax rate (% of profit) 62.9 COSTA RICA Latin America & Caribbean GNI per capita (US$) 7,660 Ease of doing business (rank) 110 Upper middle income Population (m) 4.7 ✔ Starting a business (rank) 128 Registering property (rank) 46 Trading across borders (rank) 51 Procedures (number) 12 Procedures (number) 5 Documents to export (number) 6 Time (days) 60 Time (days) 20 Time to export (days) 13 Cost (% of income per capita) 11.4 Cost (% of property value) 3.4 Cost to export (US$ per container) 1,030 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 ✔ Getting credit (rank) 83 Time to import (days) 14 ✔ Dealing with construction permits (rank) 128 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,020 Procedures (number) 18 Depth of credit information index (0-6) 6 Time (days) 160 Public registry coverage (% of adults) 28.3 Enforcing contracts (rank) 128 Cost (% of income per capita) 154.7 Private bureau coverage (% of adults) 82.8 Procedures (number) 40 Time (days) 852 Getting electricity (rank) 45 Protecting investors (rank) 169 Cost (% of claim) 24.3 Procedures (number) 5 Extent of disclosure index (0-10) 2 Time (days) 62 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 128 Cost (% of income per capita) 256.8 Ease of shareholder suits index (0-10) 2 Time (years) 3.5 Strength of investor protection index (0-10) 3.0 Cost (% of estate) 15 Recovery rate (cents on the dollar) 22.5 ✔ Paying taxes (rank) 125 Payments (number per year) 23 Time (hours per year) 226 Total tax rate (% of profit) 55.0 CÔTE D’IVOIRE Sub-Saharan Africa GNI per capita (US$) 1,100 Ease of doing business (rank) 177 Lower middle income Population (m) 20.2 Starting a business (rank) 176 Registering property (rank) 159 Trading across borders (rank) 163 Procedures (number) 10 Procedures (number) 6 Documents to export (number) 10 Time (days) 32 Time (days) 62 Time to export (days) 25 Cost (% of income per capita) 130.0 Cost (% of property value) 13.9 Cost to export (US$ per container) 1,999 Minimum capital (% of income per capita) 184.6 Documents to import (number) 10 Getting credit (rank) 129 Time to import (days) 34 Dealing with construction permits (rank) 169 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 2,710 Procedures (number) 17 Depth of credit information index (0-6) 1 Time (days) 475 Public registry coverage (% of adults) 2.9 Enforcing contracts (rank) 127 Cost (% of income per capita) 155.1 Private bureau coverage (% of adults) 0.0 Procedures (number) 33 Time (days) 770 Getting electricity (rank) 153 Protecting investors (rank) 158 Cost (% of claim) 41.7 Procedures (number) 8 Extent of disclosure index (0-10) 6 Time (days) 55 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 76 Cost (% of income per capita) 3,685.7 Ease of shareholder suits index (0-10) 3 Time (years) 2.2 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 18 Recovery rate (cents on the dollar) 37.6 Paying taxes (rank) 159 Payments (number per year) 62 Time (hours per year) 270 Total tax rate (% of profit) 39.5 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 159 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business CROATIA Eastern Europe & Central Asia GNI per capita (US$) 13,850 Ease of doing business (rank) 84 High income Population (m) 4.4 Starting a business (rank) 80 Registering property (rank) 104 Trading across borders (rank) 105 Procedures (number) 6 Procedures (number) 5 Documents to export (number) 7 Time (days) 9 Time (days) 104 Time to export (days) 20 Cost (% of income per capita) 7.3 Cost (% of property value) 5.0 Cost to export (US$ per container) 1,300 Minimum capital (% of income per capita) 13.4 Documents to import (number) 8 Getting credit (rank) 40 Time to import (days) 16 Dealing with construction permits (rank) 143 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,180 Procedures (number) 12 Depth of credit information index (0-6) 5 Time (days) 317 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 52 Cost (% of income per capita) 573.3 Private bureau coverage (% of adults) 100.0 Procedures (number) 38 Time (days) 572 Getting electricity (rank) 56 Protecting investors (rank) 139 Cost (% of claim) 13.8 Procedures (number) 5 Extent of disclosure index (0-10) 1 Time (days) 70 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 97 Cost (% of income per capita) 318.7 Ease of shareholder suits index (0-10) 6 Time (years) 3.1 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 15 Recovery rate (cents on the dollar) 30.1 ✔ Paying taxes (rank) 42 Payments (number per year) 18 Time (hours per year) 196 Total tax rate (% of profit) 32.8 CYPRUS Eastern Europe & Central Asia GNI per capita (US$) 30,571 Ease of doing business (rank) 36 High income Population (m) 1.1 Starting a business (rank) 37 ✔ Registering property (rank) 99 Trading across borders (rank) 18 Procedures (number) 6 Procedures (number) 6 Documents to export (number) 5 Time (days) 8 Time (days) 28 Time to export (days) 7 Cost (% of income per capita) 12.4 Cost (% of property value) 9.7 Cost to export (US$ per container) 790 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 Getting credit (rank) 53 Time to import (days) 5 Dealing with construction permits (rank) 80 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 900 Procedures (number) 9 Depth of credit information index (0-6) 2 Time (days) 677 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 108 Cost (% of income per capita) 51.1 Private bureau coverage (% of adults) 6.5 Procedures (number) 43 Time (days) 735 Getting electricity (rank) 98 Protecting investors (rank) 32 Cost (% of claim) 16.4 Procedures (number) 5 Extent of disclosure index (0-10) 8 Time (days) 247 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 25 Cost (% of income per capita) 86.5 Ease of shareholder suits index (0-10) 7 Time (years) 1.5 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 15 Recovery rate (cents on the dollar) 70.7 ✘ Paying taxes (rank) 31 Payments (number per year) 28 Time (hours per year) 147 Total tax rate (% of profit) 23.0 CZECH REPUBLIC OECD high income GNI per capita (US$) 18,520 Ease of doing business (rank) 65 High income Population (m) 10.5 Starting a business (rank) 140 ✔ Registering property (rank) 27 ✔ Trading across borders (rank) 68 Procedures (number) 9 Procedures (number) 3 Documents to export (number) 4 Time (days) 20 Time (days) 24 Time to export (days) 16 Cost (% of income per capita) 8.2 Cost (% of property value) 3.0 Cost to export (US$ per container) 1,145 Minimum capital (% of income per capita) 29.7 Documents to import (number) 7 Getting credit (rank) 53 Time to import (days) 17 Dealing with construction permits (rank) 74 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,180 Procedures (number) 33 Depth of credit information index (0-6) 5 Time (days) 120 Public registry coverage (% of adults) 6.1 Enforcing contracts (rank) 79 Cost (% of income per capita) 10.5 Private bureau coverage (% of adults) 98.7 Procedures (number) 27 Time (days) 611 Getting electricity (rank) 143 Protecting investors (rank) 100 Cost (% of claim) 33.0 Procedures (number) 6 Extent of disclosure index (0-10) 2 Time (days) 279 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 34 Cost (% of income per capita) 180.0 Ease of shareholder suits index (0-10) 8 Time (years) 3.2 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 17 Recovery rate (cents on the dollar) 56.3 ✔ Paying taxes (rank) 120 Payments (number per year) 8 Time (hours per year) 413 Total tax rate (% of profit) 49.2 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 160 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business DENMARK OECD high income GNI per capita (US$) 60,390 Ease of doing business (rank) 5 High income Population (m) 5.6 Starting a business (rank) 33 ✔ Registering property (rank) 6 Trading across borders (rank) 4 Procedures (number) 4 Procedures (number) 3 Documents to export (number) 4 Time (days) 6 Time (days) 10 Time to export (days) 5 Cost (% of income per capita) 0.2 Cost (% of property value) 0.6 Cost to export (US$ per container) 744 Minimum capital (% of income per capita) 24.2 Documents to import (number) 3 Getting credit (rank) 23 Time to import (days) 5 Dealing with construction permits (rank) 8 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 744 Procedures (number) 8 Depth of credit information index (0-6) 4 Time (days) 68 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 34 Cost (% of income per capita) 57.1 Private bureau coverage (% of adults) 7.3 Procedures (number) 35 Time (days) 410 Getting electricity (rank) 14 Protecting investors (rank) 32 Cost (% of claim) 23.3 Procedures (number) 4 Extent of disclosure index (0-10) 7 Time (days) 38 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 10 Cost (% of income per capita) 119.7 Ease of shareholder suits index (0-10) 7 Time (years) 1.0 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 4 Recovery rate (cents on the dollar) 87.1 Paying taxes (rank) 13 Payments (number per year) 10 Time (hours per year) 130 Total tax rate (% of profit) 27.7 DJIBOUTI Middle East & North Africa GNI per capita (US$) 1,467 Ease of doing business (rank) 171 Lower middle income Population (m) 0.9 Starting a business (rank) 185 Registering property (rank) 148 Trading across borders (rank) 41 Procedures (number) 11 Procedures (number) 7 Documents to export (number) 5 Time (days) 37 Time (days) 40 Time to export (days) 18 Cost (% of income per capita) 150.7 Cost (% of property value) 12.9 Cost to export (US$ per container) 836 Minimum capital (% of income per capita) 383.6 Documents to import (number) 5 Getting credit (rank) 180 Time to import (days) 18 Dealing with construction permits (rank) 145 Strength of legal rights index (0-10) 1 Cost to import (US$ per container) 911 Procedures (number) 15 Depth of credit information index (0-6) 1 Time (days) 172 Public registry coverage (% of adults) 0.2 Enforcing contracts (rank) 161 Cost (% of income per capita) 2,023.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 40 Time (days) 1,225 Getting electricity (rank) 142 Protecting investors (rank) 181 Cost (% of claim) 34.0 Procedures (number) 4 Extent of disclosure index (0-10) 5 Time (days) 180 Extent of director liability index (0-10) 2 Resolving insolvency (rank) 142 Cost (% of income per capita) 7,776.4 Ease of shareholder suits index (0-10) 0 Time (years) 5.0 Strength of investor protection index (0-10) 2.3 Cost (% of estate) 18 Recovery rate (cents on the dollar) 16.5 Paying taxes (rank) 67 Payments (number per year) 35 Time (hours per year) 82 Total tax rate (% of profit) 38.7 DOMINICA Latin America & Caribbean GNI per capita (US$) 7,090 Ease of doing business (rank) 68 Upper middle income Population (m) 0.1 Starting a business (rank) 46 Registering property (rank) 119 ✔ Trading across borders (rank) 92 Procedures (number) 5 Procedures (number) 5 Documents to export (number) 7 Time (days) 13 Time (days) 42 Time to export (days) 13 Cost (% of income per capita) 15.4 Cost (% of property value) 13.2 Cost to export (US$ per container) 1,340 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 83 Time to import (days) 14 Dealing with construction permits (rank) 22 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,350 Procedures (number) 9 Depth of credit information index (0-6) 0 Time (days) 165 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 170 Cost (% of income per capita) 7.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 47 Time (days) 681 Getting electricity (rank) 61 Protecting investors (rank) 32 Cost (% of claim) 36.0 Procedures (number) 5 Extent of disclosure index (0-10) 4 Time (days) 61 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 104 Cost (% of income per capita) 593.4 Ease of shareholder suits index (0-10) 7 Time (years) 4.0 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 10 Recovery rate (cents on the dollar) 28.5 Paying taxes (rank) 74 Payments (number per year) 37 Time (hours per year) 120 Total tax rate (% of profit) 37.5 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 161 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business DOMINICAN REPUBLIC Latin America & Caribbean GNI per capita (US$) 5,240 Ease of doing business (rank) 116 Upper middle income Population (m) 10.1 Starting a business (rank) 137 Registering property (rank) 110 Trading across borders (rank) 46 Procedures (number) 7 Procedures (number) 7 Documents to export (number) 6 Time (days) 19 Time (days) 60 Time to export (days) 8 Cost (% of income per capita) 17.3 Cost (% of property value) 3.7 Cost to export (US$ per container) 1,040 Minimum capital (% of income per capita) 49.3 Documents to import (number) 7 Getting credit (rank) 83 Time to import (days) 10 Dealing with construction permits (rank) 108 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,150 Procedures (number) 14 Depth of credit information index (0-6) 6 Time (days) 216 Public registry coverage (% of adults) 44.1 Enforcing contracts (rank) 84 Cost (% of income per capita) 72.7 Private bureau coverage (% of adults) 60.0 Procedures (number) 34 Time (days) 460 Getting electricity (rank) 122 Protecting investors (rank) 100 Cost (% of claim) 40.9 Procedures (number) 7 Extent of disclosure index (0-10) 5 Time (days) 87 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 156 Cost (% of income per capita) 322.3 Ease of shareholder suits index (0-10) 6 Time (years) 3.5 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 38 Recovery rate (cents on the dollar) 8.7 ✘ Paying taxes (rank) 98 Payments (number per year) 9 Time (hours per year) 324 Total tax rate (% of profit) 42.5 ECUADOR Latin America & Caribbean GNI per capita (US$) 4,140 Ease of doing business (rank) 139 Upper middle income Population (m) 14.7 Starting a business (rank) 169 ✘ Registering property (rank) 101 Trading across borders (rank) 128 Procedures (number) 13 Procedures (number) 9 Documents to export (number) 8 Time (days) 56 Time (days) 39 Time to export (days) 20 Cost (% of income per capita) 29.9 Cost (% of property value) 2.1 Cost to export (US$ per container) 1,535 Minimum capital (% of income per capita) 4.5 Documents to import (number) 7 Getting credit (rank) 83 Time to import (days) 25 Dealing with construction permits (rank) 104 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,530 Procedures (number) 16 Depth of credit information index (0-6) 6 Time (days) 128 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 99 Cost (% of income per capita) 208.5 Private bureau coverage (% of adults) 53.5 Procedures (number) 39 Time (days) 588 Getting electricity (rank) 146 Protecting investors (rank) 139 Cost (% of claim) 27.2 Procedures (number) 7 Extent of disclosure index (0-10) 1 Time (days) 89 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 137 Cost (% of income per capita) 860.9 Ease of shareholder suits index (0-10) 6 Time (years) 5.3 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 18 Recovery rate (cents on the dollar) 17.8 Paying taxes (rank) 84 Payments (number per year) 8 Time (hours per year) 654 Total tax rate (% of profit) 34.6 EGYPT, ARAB REP. Middle East & North Africa GNI per capita (US$) 2,600 Ease of doing business (rank) 109 Lower middle income Population (m) 82.5 Starting a business (rank) 26 Registering property (rank) 95 Trading across borders (rank) 70 Procedures (number) 6 Procedures (number) 7 Documents to export (number) 8 Time (days) 7 Time (days) 72 Time to export (days) 12 Cost (% of income per capita) 10.2 Cost (% of property value) 0.7 Cost to export (US$ per container) 625 Minimum capital (% of income per capita) 0.0 Documents to import (number) 9 Getting credit (rank) 83 Time to import (days) 13 Dealing with construction permits (rank) 165 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 755 Procedures (number) 22 Depth of credit information index (0-6) 6 Time (days) 218 Public registry coverage (% of adults) 4.3 Enforcing contracts (rank) 152 Cost (% of income per capita) 135.0 Private bureau coverage (% of adults) 16.4 Procedures (number) 42 Time (days) 1,010 Getting electricity (rank) 99 Protecting investors (rank) 82 Cost (% of claim) 26.2 Procedures (number) 7 Extent of disclosure index (0-10) 8 Time (days) 54 Extent of director liability index (0-10) 3 Resolving insolvency (rank) 139 Cost (% of income per capita) 396.0 Ease of shareholder suits index (0-10) 5 Time (years) 4.2 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 22 Recovery rate (cents on the dollar) 17.6 Paying taxes (rank) 145 Payments (number per year) 29 Time (hours per year) 392 Total tax rate (% of profit) 42.6 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 162 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business EL SALVADOR Latin America & Caribbean GNI per capita (US$) 3,480 Ease of doing business (rank) 113 Lower middle income Population (m) 6.2 Starting a business (rank) 139 Registering property (rank) 56 Trading across borders (rank) 80 Procedures (number) 8 Procedures (number) 5 Documents to export (number) 8 Time (days) 17 Time (days) 31 Time to export (days) 14 Cost (% of income per capita) 46.7 Cost (% of property value) 3.8 Cost to export (US$ per container) 980 Minimum capital (% of income per capita) 2.9 Documents to import (number) 8 ✔ Getting credit (rank) 53 Time to import (days) 10 Dealing with construction permits (rank) 146 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 980 Procedures (number) 33 Depth of credit information index (0-6) 6 Time (days) 157 Public registry coverage (% of adults) 26.5 Enforcing contracts (rank) 71 Cost (% of income per capita) 162.5 Private bureau coverage (% of adults) 83.7 Procedures (number) 34 Time (days) 786 Getting electricity (rank) 131 Protecting investors (rank) 169 Cost (% of claim) 19.2 Procedures (number) 7 Extent of disclosure index (0-10) 3 Time (days) 78 Extent of director liability index (0-10) 0 Resolving insolvency (rank) 89 Cost (% of income per capita) 554.8 Ease of shareholder suits index (0-10) 6 Time (years) 4.0 Strength of investor protection index (0-10) 3.0 Cost (% of estate) 9 Recovery rate (cents on the dollar) 32.2 ✘ Paying taxes (rank) 153 Payments (number per year) 53 Time (hours per year) 320 Total tax rate (% of profit) 35.0 EQUATORIAL GUINEA Sub-Saharan Africa GNI per capita (US$) 14,540 Ease of doing business (rank) 162 High income Population (m) 0.7 Starting a business (rank) 182 Registering property (rank) 103 Trading across borders (rank) 136 Procedures (number) 18 Procedures (number) 6 Documents to export (number) 7 Time (days) 135 Time (days) 23 Time to export (days) 29 Cost (% of income per capita) 98.2 Cost (% of property value) 12.5 Cost to export (US$ per container) 1,390 Minimum capital (% of income per capita) 11.7 Documents to import (number) 7 Getting credit (rank) 104 Time to import (days) 44 Dealing with construction permits (rank) 107 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,600 Procedures (number) 15 Depth of credit information index (0-6) 2 Time (days) 166 Public registry coverage (% of adults) 3.9 Enforcing contracts (rank) 61 Cost (% of income per capita) 120.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 40 Time (days) 475 Getting electricity (rank) 86 Protecting investors (rank) 150 Cost (% of claim) 18.5 Procedures (number) 5 Extent of disclosure index (0-10) 6 Time (days) 106 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 185 Cost (% of income per capita) 456.5 Ease of shareholder suits index (0-10) 4 Time (years) NO PRACTICE Strength of investor protection index (0-10) 3.7 Cost (% of estate) NO PRACTICE Recovery rate (cents on the dollar) 0.0 Paying taxes (rank) 173 Payments (number per year) 46 Time (hours per year) 492 Total tax rate (% of profit) 46.0 ERITREA Sub-Saharan Africa GNI per capita (US$) 430 Ease of doing business (rank) 182 Low income Population (m) 5.4 Starting a business (rank) 183 Registering property (rank) 181 Trading across borders (rank) 165 Procedures (number) 13 Procedures (number) 11 Documents to export (number) 10 Time (days) 84 Time (days) 78 Time to export (days) 50 Cost (% of income per capita) 52.3 Cost (% of property value) 9.1 Cost to export (US$ per container) 1,460 Minimum capital (% of income per capita) 203.1 Documents to import (number) 12 Getting credit (rank) 180 Time to import (days) 59 Dealing with construction permits (rank) 185 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 1,600 Procedures (number) NO PRACTICE Depth of credit information index (0-6) 0 Time (days) NO PRACTICE Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 51 Cost (% of income per capita) NO PRACTICE Private bureau coverage (% of adults) 0.0 Procedures (number) 39 Time (days) 405 Getting electricity (rank) 93 Protecting investors (rank) 117 Cost (% of claim) 22.6 Procedures (number) 5 Extent of disclosure index (0-10) 4 Time (days) 59 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 185 Cost (% of income per capita) 3,508.0 Ease of shareholder suits index (0-10) 5 Time (years) NO PRACTICE Strength of investor protection index (0-10) 4.7 Cost (% of estate) NO PRACTICE Recovery rate (cents on the dollar) 0.0 Paying taxes (rank) 146 Payments (number per year) 30 Time (hours per year) 216 Total tax rate (% of profit) 84.5 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 163 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business ESTONIA OECD high income GNI per capita (US$) 15,200 Ease of doing business (rank) 21 High income Population (m) 1.3 Starting a business (rank) 47 Registering property (rank) 14 Trading across borders (rank) 7 Procedures (number) 5 Procedures (number) 3 Documents to export (number) 3 Time (days) 7 Time (days) 18 Time to export (days) 5 Cost (% of income per capita) 1.6 Cost (% of property value) 0.4 Cost to export (US$ per container) 745 Minimum capital (% of income per capita) 22.1 Documents to import (number) 4 Getting credit (rank) 40 Time to import (days) 5 Dealing with construction permits (rank) 35 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 795 Procedures (number) 13 Depth of credit information index (0-6) 5 Time (days) 148 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 31 Cost (% of income per capita) 16.1 Private bureau coverage (% of adults) 33.4 Procedures (number) 35 Time (days) 425 Getting electricity (rank) 52 Protecting investors (rank) 70 Cost (% of claim) 22.3 Procedures (number) 4 Extent of disclosure index (0-10) 8 Time (days) 111 Extent of director liability index (0-10) 3 Resolving insolvency (rank) 72 Cost (% of income per capita) 201.4 Ease of shareholder suits index (0-10) 6 Time (years) 3.0 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 9 Recovery rate (cents on the dollar) 38.5 Paying taxes (rank) 50 Payments (number per year) 8 Time (hours per year) 85 Total tax rate (% of profit) 67.3 ETHIOPIA Sub-Saharan Africa GNI per capita (US$) 400 Ease of doing business (rank) 127 Low income Population (m) 84.7 Starting a business (rank) 163 Registering property (rank) 112 Trading across borders (rank) 161 Procedures (number) 9 Procedures (number) 10 Documents to export (number) 7 Time (days) 15 Time (days) 41 Time to export (days) 42 Cost (% of income per capita) 135.3 Cost (% of property value) 2.1 Cost to export (US$ per container) 2,160 Minimum capital (% of income per capita) 249.1 Documents to import (number) 9 ✔ Getting credit (rank) 104 Time to import (days) 44 Dealing with construction permits (rank) 53 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 2,660 Procedures (number) 9 Depth of credit information index (0-6) 4 Time (days) 128 Public registry coverage (% of adults) 0.1 Enforcing contracts (rank) 50 Cost (% of income per capita) 275.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 38 Time (days) 530 Getting electricity (rank) 94 Protecting investors (rank) 128 Cost (% of claim) 15.2 Procedures (number) 4 Extent of disclosure index (0-10) 4 Time (days) 95 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 117 Cost (% of income per capita) 2,544.3 Ease of shareholder suits index (0-10) 5 Time (years) 3.0 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 15 Recovery rate (cents on the dollar) 25.9 ✘ Paying taxes (rank) 103 Payments (number per year) 31 Time (hours per year) 306 Total tax rate (% of profit) 33.3 FIJI East Asia & Pacific GNI per capita (US$) 3,680 Ease of doing business (rank) 60 Lower middle income Population (m) 0.9 ✘ Starting a business (rank) 138 ✘ Registering property (rank) 58 Trading across borders (rank) 111 Procedures (number) 11 Procedures (number) 4 Documents to export (number) 10 Time (days) 58 Time (days) 69 Time to export (days) 22 Cost (% of income per capita) 24.0 Cost (% of property value) 2.0 Cost to export (US$ per container) 655 Minimum capital (% of income per capita) 0.0 Documents to import (number) 10 Getting credit (rank) 70 Time to import (days) 23 ✘ Dealing with construction permits (rank) 82 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 635 Procedures (number) 17 Depth of credit information index (0-6) 3 Time (days) 148 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 67 Cost (% of income per capita) 43.8 Private bureau coverage (% of adults) 69.5 Procedures (number) 34 Time (days) 397 Getting electricity (rank) 79 Protecting investors (rank) 49 Cost (% of claim) 38.9 Procedures (number) 4 Extent of disclosure index (0-10) 3 Time (days) 81 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 48 Cost (% of income per capita) 1,904.7 Ease of shareholder suits index (0-10) 7 Time (years) 1.8 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 10 Recovery rate (cents on the dollar) 45.2 ✔ Paying taxes (rank) 85 Payments (number per year) 34 Time (hours per year) 163 Total tax rate (% of profit) 37.6 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 164 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business FINLAND OECD high income GNI per capita (US$) 48,420 Ease of doing business (rank) 11 High income Population (m) 5.4 Starting a business (rank) 49 Registering property (rank) 24 Trading across borders (rank) 6 Procedures (number) 3 Procedures (number) 3 Documents to export (number) 4 Time (days) 14 Time (days) 14 Time to export (days) 8 Cost (% of income per capita) 1.0 Cost (% of property value) 4.0 Cost to export (US$ per container) 540 Minimum capital (% of income per capita) 7.0 Documents to import (number) 5 Getting credit (rank) 40 Time to import (days) 7 Dealing with construction permits (rank) 34 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 620 Procedures (number) 16 Depth of credit information index (0-6) 4 Time (days) 66 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 9 Cost (% of income per capita) 43.3 Private bureau coverage (% of adults) 18.9 Procedures (number) 33 Time (days) 375 Getting electricity (rank) 21 Protecting investors (rank) 70 Cost (% of claim) 13.3 Procedures (number) 5 Extent of disclosure index (0-10) 6 Time (days) 47 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 5 Cost (% of income per capita) 29.6 Ease of shareholder suits index (0-10) 7 Time (years) 0.9 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 4 Recovery rate (cents on the dollar) 89.7 Paying taxes (rank) 23 Payments (number per year) 8 Time (hours per year) 93 Total tax rate (% of profit) 40.6 FRANCE OECD high income GNI per capita (US$) 42,420 Ease of doing business (rank) 34 High income Population (m) 65.4 Starting a business (rank) 27 Registering property (rank) 146 Trading across borders (rank) 27 Procedures (number) 5 Procedures (number) 8 Documents to export (number) 2 Time (days) 7 Time (days) 59 Time to export (days) 9 Cost (% of income per capita) 0.9 Cost (% of property value) 6.1 Cost to export (US$ per container) 1,078 Minimum capital (% of income per capita) 0.0 Documents to import (number) 2 Getting credit (rank) 53 Time to import (days) 11 Dealing with construction permits (rank) 52 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,248 Procedures (number) 9 Depth of credit information index (0-6) 4 Time (days) 184 Public registry coverage (% of adults) 42.4 Enforcing contracts (rank) 8 Cost (% of income per capita) 68.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 29 Time (days) 390 Getting electricity (rank) 42 Protecting investors (rank) 82 Cost (% of claim) 17.4 Procedures (number) 5 Extent of disclosure index (0-10) 10 Time (days) 79 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 43 Cost (% of income per capita) 43.9 Ease of shareholder suits index (0-10) 5 Time (years) 1.9 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 9 Recovery rate (cents on the dollar) 48.4 Paying taxes (rank) 53 Payments (number per year) 7 Time (hours per year) 132 Total tax rate (% of profit) 65.7 GABON Sub-Saharan Africa GNI per capita (US$) 7,980 Ease of doing business (rank) 170 Upper middle income Population (m) 1.5 Starting a business (rank) 157 ✘ Registering property (rank) 170 Trading across borders (rank) 135 Procedures (number) 9 Procedures (number) 7 Documents to export (number) 7 Time (days) 58 Time (days) 104 Time to export (days) 20 Cost (% of income per capita) 14.5 Cost (% of property value) 10.5 Cost to export (US$ per container) 1,945 Minimum capital (% of income per capita) 22.3 Documents to import (number) 8 Getting credit (rank) 104 Time to import (days) 22 Dealing with construction permits (rank) 110 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,955 Procedures (number) 13 Depth of credit information index (0-6) 2 Time (days) 243 Public registry coverage (% of adults) 53.8 Enforcing contracts (rank) 153 Cost (% of income per capita) 79.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 38 Time (days) 1,070 Getting electricity (rank) 135 Protecting investors (rank) 158 Cost (% of claim) 34.3 Procedures (number) 6 Extent of disclosure index (0-10) 6 Time (days) 141 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 145 Cost (% of income per capita) 354.2 Ease of shareholder suits index (0-10) 3 Time (years) 5.0 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 15 Recovery rate (cents on the dollar) 15.2 Paying taxes (rank) 146 Payments (number per year) 26 Time (hours per year) 488 Total tax rate (% of profit) 43.5 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 165 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business GAMBIA, THE Sub-Saharan Africa GNI per capita (US$) 610 Ease of doing business (rank) 147 Low income Population (m) 1.8 Starting a business (rank) 123 Registering property (rank) 120 Trading across borders (rank) 87 Procedures (number) 8 Procedures (number) 5 Documents to export (number) 6 Time (days) 27 Time (days) 66 Time to export (days) 23 Cost (% of income per capita) 158.7 Cost (% of property value) 7.6 Cost to export (US$ per container) 1,180 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 Getting credit (rank) 159 Time to import (days) 21 Dealing with construction permits (rank) 90 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 885 Procedures (number) 14 Depth of credit information index (0-6) 0 Time (days) 143 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 65 Cost (% of income per capita) 124.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 33 Time (days) 407 Getting electricity (rank) 119 Protecting investors (rank) 177 Cost (% of claim) 37.9 Procedures (number) 5 Extent of disclosure index (0-10) 2 Time (days) 78 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 108 Cost (% of income per capita) 3,976.8 Ease of shareholder suits index (0-10) 5 Time (years) 2.0 Strength of investor protection index (0-10) 2.7 Cost (% of estate) 15 Recovery rate (cents on the dollar) 27.8 Paying taxes (rank) 179 Payments (number per year) 50 Time (hours per year) 376 Total tax rate (% of profit) 283.5 GEORGIA Eastern Europe & Central Asia GNI per capita (US$) 2,860 Ease of doing business (rank) 9 Lower middle income Population (m) 4.5 Starting a business (rank) 7 Registering property (rank) 1 ✔ Trading across borders (rank) 38 Procedures (number) 2 Procedures (number) 1 Documents to export (number) 4 Time (days) 2 Time (days) 2 Time to export (days) 9 Cost (% of income per capita) 3.8 Cost (% of property value) 0.1 Cost to export (US$ per container) 1,355 Minimum capital (% of income per capita) 0.0 Documents to import (number) 4 ✔ Getting credit (rank) 4 Time to import (days) 10 Dealing with construction permits (rank) 3 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,595 Procedures (number) 9 Depth of credit information index (0-6) 6 Time (days) 74 Public registry coverage (% of adults) 0.0 ✔ Enforcing contracts (rank) 30 Cost (% of income per capita) 17.7 Private bureau coverage (% of adults) 35.5 Procedures (number) 33 Time (days) 285 ✔ Getting electricity (rank) 50 Protecting investors (rank) 19 Cost (% of claim) 29.9 Procedures (number) 4 Extent of disclosure index (0-10) 9 Time (days) 71 Extent of director liability index (0-10) 6 ✔ Resolving insolvency (rank) 81 Cost (% of income per capita) 561.8 Ease of shareholder suits index (0-10) 6 Time (years) 2.0 Strength of investor protection index (0-10) 7.0 Cost (% of estate) 4 Recovery rate (cents on the dollar) 35.7 ✔ Paying taxes (rank) 33 Payments (number per year) 5 Time (hours per year) 280 Total tax rate (% of profit) 16.5 GERMANY OECD high income GNI per capita (US$) 43,980 Ease of doing business (rank) 20 High income Population (m) 81.7 Starting a business (rank) 106 Registering property (rank) 81 Trading across borders (rank) 13 Procedures (number) 9 Procedures (number) 5 Documents to export (number) 4 Time (days) 15 Time (days) 40 Time to export (days) 7 Cost (% of income per capita) 4.9 Cost (% of property value) 5.7 Cost to export (US$ per container) 872 Minimum capital (% of income per capita) 0.0 Documents to import (number) 5 Getting credit (rank) 23 Time to import (days) 7 Dealing with construction permits (rank) 14 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 937 Procedures (number) 9 Depth of credit information index (0-6) 6 Time (days) 97 Public registry coverage (% of adults) 1.3 Enforcing contracts (rank) 5 Cost (% of income per capita) 48.1 Private bureau coverage (% of adults) 100.0 Procedures (number) 30 Time (days) 394 Getting electricity (rank) 2 Protecting investors (rank) 100 Cost (% of claim) 14.4 Procedures (number) 3 Extent of disclosure index (0-10) 5 Time (days) 17 Extent of director liability index (0-10) 5 ✔ Resolving insolvency (rank) 19 Cost (% of income per capita) 48.3 Ease of shareholder suits index (0-10) 5 Time (years) 1.2 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 8 Recovery rate (cents on the dollar) 78.1 ✔ Paying taxes (rank) 72 Payments (number per year) 9 Time (hours per year) 207 Total tax rate (% of profit) 46.8 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 166 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business GHANA Sub-Saharan Africa GNI per capita (US$) 1,410 Ease of doing business (rank) 64 Lower middle income Population (m) 25.0 Starting a business (rank) 112 Registering property (rank) 45 ✘ Trading across borders (rank) 99 Procedures (number) 7 Procedures (number) 5 Documents to export (number) 7 Time (days) 12 Time (days) 34 Time to export (days) 19 Cost (% of income per capita) 18.5 Cost (% of property value) 1.2 Cost to export (US$ per container) 815 Minimum capital (% of income per capita) 4.3 Documents to import (number) 7 Getting credit (rank) 23 Time to import (days) 34 Dealing with construction permits (rank) 162 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,315 Procedures (number) 16 Depth of credit information index (0-6) 5 Time (days) 218 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 48 Cost (% of income per capita) 481.2 Private bureau coverage (% of adults) 5.7 Procedures (number) 36 Time (days) 487 Getting electricity (rank) 63 Protecting investors (rank) 49 Cost (% of claim) 23.0 Procedures (number) 4 Extent of disclosure index (0-10) 7 Time (days) 78 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 114 Cost (% of income per capita) 957.3 Ease of shareholder suits index (0-10) 6 Time (years) 1.9 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 22 Recovery rate (cents on the dollar) 26.9 Paying taxes (rank) 89 Payments (number per year) 32 Time (hours per year) 224 Total tax rate (% of profit) 33.5 GREECE OECD high income GNI per capita (US$) 25,030 Ease of doing business (rank) 78 High income Population (m) 11.3 Starting a business (rank) 146 Registering property (rank) 150 Trading across borders (rank) 62 Procedures (number) 11 Procedures (number) 11 Documents to export (number) 5 Time (days) 11 Time (days) 18 Time to export (days) 19 Cost (% of income per capita) 20.5 Cost (% of property value) 11.8 Cost to export (US$ per container) 1,115 Minimum capital (% of income per capita) 24.4 Documents to import (number) 6 Getting credit (rank) 83 Time to import (days) 15 ✔ Dealing with construction permits (rank) 31 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 1,135 Procedures (number) 15 Depth of credit information index (0-6) 5 Time (days) 89 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 87 Cost (% of income per capita) 27.5 Private bureau coverage (% of adults) 84.0 Procedures (number) 39 Time (days) 819 Getting electricity (rank) 59 ✔ Protecting investors (rank) 117 Cost (% of claim) 14.4 Procedures (number) 6 Extent of disclosure index (0-10) 5 Time (days) 62 Extent of director liability index (0-10) 4 ✔ Resolving insolvency (rank) 50 Cost (% of income per capita) 62.4 Ease of shareholder suits index (0-10) 5 Time (years) 2.0 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 9 Recovery rate (cents on the dollar) 44.5 Paying taxes (rank) 56 Payments (number per year) 8 Time (hours per year) 202 Total tax rate (% of profit) 44.6 GRENADA Latin America & Caribbean GNI per capita (US$) 7,220 Ease of doing business (rank) 100 Upper middle income Population (m) 0.1 Starting a business (rank) 65 Registering property (rank) 151 ✔ Trading across borders (rank) 71 Procedures (number) 6 Procedures (number) 8 Documents to export (number) 5 Time (days) 15 Time (days) 47 Time to export (days) 9 Cost (% of income per capita) 19.1 Cost (% of property value) 7.4 Cost to export (US$ per container) 1,300 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 Getting credit (rank) 104 Time to import (days) 9 Dealing with construction permits (rank) 10 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 2,235 Procedures (number) 8 Depth of credit information index (0-6) 0 Time (days) 123 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 165 Cost (% of income per capita) 17.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 47 Time (days) 688 Getting electricity (rank) 66 Protecting investors (rank) 32 Cost (% of claim) 32.6 Procedures (number) 6 Extent of disclosure index (0-10) 4 Time (days) 49 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 185 Cost (% of income per capita) 283.5 Ease of shareholder suits index (0-10) 7 Time (years) NO PRACTICE Strength of investor protection index (0-10) 6.3 Cost (% of estate) NO PRACTICE Recovery rate (cents on the dollar) 0.0 Paying taxes (rank) 85 Payments (number per year) 30 Time (hours per year) 140 Total tax rate (% of profit) 45.3 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 167 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business GUATEMALA Latin America & Caribbean GNI per capita (US$) 2,870 Ease of doing business (rank) 93 Lower middle income Population (m) 14.8 Starting a business (rank) 172 Registering property (rank) 20 Trading across borders (rank) 117 Procedures (number) 12 Procedures (number) 4 Documents to export (number) 9 Time (days) 40 Time (days) 23 Time to export (days) 17 Cost (% of income per capita) 48.1 Cost (% of property value) 0.8 Cost to export (US$ per container) 1,307 Minimum capital (% of income per capita) 20.9 Documents to import (number) 8 Getting credit (rank) 12 Time to import (days) 17 ✔ Dealing with construction permits (rank) 94 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,425 Procedures (number) 11 Depth of credit information index (0-6) 6 Time (days) 158 Public registry coverage (% of adults) 18.0 Enforcing contracts (rank) 96 Cost (% of income per capita) 500.4 Private bureau coverage (% of adults) 8.7 Procedures (number) 31 Time (days) 1,459 Getting electricity (rank) 34 Protecting investors (rank) 158 Cost (% of claim) 26.5 Procedures (number) 4 Extent of disclosure index (0-10) 3 Time (days) 39 Extent of director liability index (0-10) 2 Resolving insolvency (rank) 109 Cost (% of income per capita) 594.8 Ease of shareholder suits index (0-10) 5 Time (years) 3.0 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 15 Recovery rate (cents on the dollar) 27.8 Paying taxes (rank) 124 Payments (number per year) 24 Time (hours per year) 332 Total tax rate (% of profit) 40.9 GUINEA Sub-Saharan Africa GNI per capita (US$) 440 Ease of doing business (rank) 178 Low income Population (m) 10.2 ✔ Starting a business (rank) 158 Registering property (rank) 151 Trading across borders (rank) 133 Procedures (number) 6 Procedures (number) 6 Documents to export (number) 7 Time (days) 35 Time (days) 59 Time to export (days) 35 Cost (% of income per capita) 96.9 Cost (% of property value) 14.2 Cost to export (US$ per container) 855 Minimum capital (% of income per capita) 324.7 Documents to import (number) 9 Getting credit (rank) 154 Time to import (days) 32 ✔ Dealing with construction permits (rank) 152 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,391 Procedures (number) 29 Depth of credit information index (0-6) 0 Time (days) 197 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 131 Cost (% of income per capita) 94.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 49 Time (days) 276 ✔ Getting electricity (rank) 88 Protecting investors (rank) 177 Cost (% of claim) 45.0 Procedures (number) 4 Extent of disclosure index (0-10) 6 Time (days) 69 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 141 Cost (% of income per capita) 8,377.7 Ease of shareholder suits index (0-10) 1 Time (years) 3.8 Strength of investor protection index (0-10) 2.7 Cost (% of estate) 8 Recovery rate (cents on the dollar) 17.1 Paying taxes (rank) 183 Payments (number per year) 58 Time (hours per year) 416 Total tax rate (% of profit) 73.2 GUINEA-BISSAU Sub-Saharan Africa GNI per capita (US$) 600 Ease of doing business (rank) 179 Low income Population (m) 1.5 Starting a business (rank) 148 Registering property (rank) 180 Trading across borders (rank) 116 Procedures (number) 9 Procedures (number) 8 Documents to export (number) 6 Time (days) 9 Time (days) 210 Time to export (days) 23 Cost (% of income per capita) 42.2 Cost (% of property value) 10.5 Cost to export (US$ per container) 1,448 Minimum capital (% of income per capita) 338.0 Documents to import (number) 6 Getting credit (rank) 129 Time to import (days) 22 Dealing with construction permits (rank) 117 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 2,006 Procedures (number) 12 Depth of credit information index (0-6) 1 Time (days) 163 Public registry coverage (% of adults) 1.1 Enforcing contracts (rank) 142 Cost (% of income per capita) 785.2 Private bureau coverage (% of adults) 0.0 Procedures (number) 40 Time (days) 1,715 Getting electricity (rank) 182 Protecting investors (rank) 139 Cost (% of claim) 25.0 Procedures (number) 7 Extent of disclosure index (0-10) 6 Time (days) 455 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 185 Cost (% of income per capita) 1,737.2 Ease of shareholder suits index (0-10) 5 Time (years) NO PRACTICE Strength of investor protection index (0-10) 4.0 Cost (% of estate) NO PRACTICE Recovery rate (cents on the dollar) 0.0 Paying taxes (rank) 146 Payments (number per year) 46 Time (hours per year) 208 Total tax rate (% of profit) 45.9 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 168 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business GUYANA Latin America & Caribbean GNI per capita (US$) 3,202 Ease of doing business (rank) 114 Lower middle income Population (m) 0.8 Starting a business (rank) 89 Registering property (rank) 114 Trading across borders (rank) 84 Procedures (number) 8 Procedures (number) 6 Documents to export (number) 7 Time (days) 20 Time (days) 75 Time to export (days) 19 Cost (% of income per capita) 13.9 Cost (% of property value) 4.6 Cost to export (US$ per container) 730 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 167 Time to import (days) 22 Dealing with construction permits (rank) 29 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 745 Procedures (number) 8 Depth of credit information index (0-6) 0 Time (days) 195 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 75 Cost (% of income per capita) 18.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 36 Time (days) 581 Getting electricity (rank) 148 Protecting investors (rank) 82 Cost (% of claim) 25.2 Procedures (number) 7 Extent of disclosure index (0-10) 5 Time (days) 109 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 138 Cost (% of income per capita) 542.9 Ease of shareholder suits index (0-10) 6 Time (years) 3.0 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 29 Recovery rate (cents on the dollar) 17.6 Paying taxes (rank) 118 Payments (number per year) 35 Time (hours per year) 263 Total tax rate (% of profit) 36.1 HAITI Latin America & Caribbean GNI per capita (US$) 700 Ease of doing business (rank) 174 Low income Population (m) 10.1 Starting a business (rank) 183 Registering property (rank) 130 Trading across borders (rank) 149 Procedures (number) 12 Procedures (number) 5 Documents to export (number) 8 Time (days) 105 Time (days) 301 Time to export (days) 33 Cost (% of income per capita) 286.6 Cost (% of property value) 6.6 Cost to export (US$ per container) 1,185 Minimum capital (% of income per capita) 21.0 Documents to import (number) 10 Getting credit (rank) 159 Time to import (days) 31 Dealing with construction permits (rank) 136 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,545 Procedures (number) 9 Depth of credit information index (0-6) 2 Time (days) 1,129 Public registry coverage (% of adults) 0.7 Enforcing contracts (rank) 97 Cost (% of income per capita) 692.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 35 Time (days) 530 Getting electricity (rank) 71 Protecting investors (rank) 169 Cost (% of claim) 42.6 Procedures (number) 4 Extent of disclosure index (0-10) 2 Time (days) 60 Extent of director liability index (0-10) 3 Resolving insolvency (rank) 160 Cost (% of income per capita) 4,599.0 Ease of shareholder suits index (0-10) 4 Time (years) 5.7 Strength of investor protection index (0-10) 3.0 Cost (% of estate) 30 Recovery rate (cents on the dollar) 8.3 Paying taxes (rank) 123 Payments (number per year) 46 Time (hours per year) 184 Total tax rate (% of profit) 40.8 HONDURAS Latin America & Caribbean GNI per capita (US$) 1,970 Ease of doing business (rank) 125 Lower middle income Population (m) 7.8 Starting a business (rank) 155 Registering property (rank) 92 Trading across borders (rank) 90 Procedures (number) 13 Procedures (number) 7 Documents to export (number) 6 Time (days) 14 Time (days) 23 Time to export (days) 12 Cost (% of income per capita) 45.9 Cost (% of property value) 5.7 Cost to export (US$ per container) 1,342 Minimum capital (% of income per capita) 15.7 Documents to import (number) 8 Getting credit (rank) 12 Time to import (days) 16 Dealing with construction permits (rank) 65 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,510 Procedures (number) 13 Depth of credit information index (0-6) 6 Time (days) 94 Public registry coverage (% of adults) 20.7 Enforcing contracts (rank) 179 Cost (% of income per capita) 274.3 Private bureau coverage (% of adults) 32.9 Procedures (number) 47 Time (days) 920 Getting electricity (rank) 117 Protecting investors (rank) 169 Cost (% of claim) 35.2 Procedures (number) 8 Extent of disclosure index (0-10) 0 Time (days) 33 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 133 Cost (% of income per capita) 997.9 Ease of shareholder suits index (0-10) 4 Time (years) 3.8 Strength of investor protection index (0-10) 3.0 Cost (% of estate) 15 Recovery rate (cents on the dollar) 19.4 Paying taxes (rank) 139 Payments (number per year) 47 Time (hours per year) 224 Total tax rate (% of profit) 40.3 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 169 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business HONG KONG SAR, CHINA East Asia & Pacific GNI per capita (US$) 35,160 Ease of doing business (rank) 2 High income Population (m) 7.1 Starting a business (rank) 6 Registering property (rank) 60 Trading across borders (rank) 2 Procedures (number) 3 Procedures (number) 5 Documents to export (number) 4 Time (days) 3 Time (days) 36 Time to export (days) 5 Cost (% of income per capita) 1.9 Cost (% of property value) 4.0 Cost to export (US$ per container) 575 Minimum capital (% of income per capita) 0.0 Documents to import (number) 4 Getting credit (rank) 4 Time to import (days) 5 Dealing with construction permits (rank) 1 Strength of legal rights index (0-10) 10 Cost to import (US$ per container) 565 Procedures (number) 6 Depth of credit information index (0-6) 5 Time (days) 67 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 10 Cost (% of income per capita) 16.3 Private bureau coverage (% of adults) 89.4 Procedures (number) 27 Time (days) 360 Getting electricity (rank) 4 Protecting investors (rank) 3 Cost (% of claim) 21.2 Procedures (number) 4 Extent of disclosure index (0-10) 10 Time (days) 41 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 17 Cost (% of income per capita) 1.6 Ease of shareholder suits index (0-10) 9 Time (years) 1.1 Strength of investor protection index (0-10) 9.0 Cost (% of estate) 9 Recovery rate (cents on the dollar) 81.2 Paying taxes (rank) 4 Payments (number per year) 3 Time (hours per year) 78 Total tax rate (% of profit) 23.0 HUNGARY OECD high income GNI per capita (US$) 12,730 Ease of doing business (rank) 54 High income Population (m) 10.0 ✘ Starting a business (rank) 52 Registering property (rank) 43 ✔ Trading across borders (rank) 73 Procedures (number) 4 Procedures (number) 4 Documents to export (number) 6 Time (days) 5 Time (days) 17 Time to export (days) 17 Cost (% of income per capita) 8.9 Cost (% of property value) 5.0 Cost to export (US$ per container) 885 Minimum capital (% of income per capita) 9.4 Documents to import (number) 7 ✔ Getting credit (rank) 53 Time to import (days) 19 Dealing with construction permits (rank) 55 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 875 Procedures (number) 26 Depth of credit information index (0-6) 4 Time (days) 102 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 16 Cost (% of income per capita) 5.7 Private bureau coverage (% of adults) 15.8 Procedures (number) 35 Time (days) 395 Getting electricity (rank) 109 Protecting investors (rank) 128 Cost (% of claim) 15.0 Procedures (number) 5 Extent of disclosure index (0-10) 2 Time (days) 252 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 70 Cost (% of income per capita) 116.9 Ease of shareholder suits index (0-10) 7 Time (years) 2.0 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 15 Recovery rate (cents on the dollar) 38.8 ✔ Paying taxes (rank) 118 Payments (number per year) 12 Time (hours per year) 277 Total tax rate (% of profit) 50.3 ICELAND OECD high income GNI per capita (US$) 35,020 Ease of doing business (rank) 14 High income Population (m) 0.3 Starting a business (rank) 45 Registering property (rank) 9 Trading across borders (rank) 82 Procedures (number) 5 Procedures (number) 3 Documents to export (number) 5 Time (days) 5 Time (days) 4 Time to export (days) 19 Cost (% of income per capita) 3.0 Cost (% of property value) 2.4 Cost to export (US$ per container) 1,465 Minimum capital (% of income per capita) 11.5 Documents to import (number) 5 Getting credit (rank) 40 Time to import (days) 14 Dealing with construction permits (rank) 40 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,620 Procedures (number) 18 Depth of credit information index (0-6) 5 Time (days) 77 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 3 Cost (% of income per capita) 27.4 Private bureau coverage (% of adults) 100.0 Procedures (number) 27 Time (days) 417 Getting electricity (rank) 1 Protecting investors (rank) 49 Cost (% of claim) 8.2 Procedures (number) 4 Extent of disclosure index (0-10) 7 Time (days) 22 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 11 Cost (% of income per capita) 14.9 Ease of shareholder suits index (0-10) 6 Time (years) 1.0 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 4 Recovery rate (cents on the dollar) 85.0 ✘ Paying taxes (rank) 41 Payments (number per year) 29 Time (hours per year) 140 Total tax rate (% of profit) 33.0 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 170 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business INDIA South Asia GNI per capita (US$) 1,420 Ease of doing business (rank) 132 Lower middle income Population (m) 1,241.5 Starting a business (rank) 173 Registering property (rank) 94 Trading across borders (rank) 127 Procedures (number) 12 Procedures (number) 5 Documents to export (number) 9 Time (days) 27 Time (days) 44 Time to export (days) 16 Cost (% of income per capita) 49.8 Cost (% of property value) 7.3 Cost to export (US$ per container) 1,120 Minimum capital (% of income per capita) 140.1 Documents to import (number) 11 Getting credit (rank) 23 Time to import (days) 20 ✔ Dealing with construction permits (rank) 182 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,200 Procedures (number) 34 Depth of credit information index (0-6) 5 Time (days) 196 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 184 Cost (% of income per capita) 1,528.0 Private bureau coverage (% of adults) 14.9 Procedures (number) 46 Time (days) 1,420 Getting electricity (rank) 105 Protecting investors (rank) 49 Cost (% of claim) 39.6 Procedures (number) 7 Extent of disclosure index (0-10) 7 Time (days) 67 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 116 Cost (% of income per capita) 247.3 Ease of shareholder suits index (0-10) 7 Time (years) 4.3 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 9 Recovery rate (cents on the dollar) 26.0 Paying taxes (rank) 152 Payments (number per year) 33 Time (hours per year) 243 Total tax rate (% of profit) 61.8 INDONESIA East Asia & Pacific GNI per capita (US$) 2,940 Ease of doing business (rank) 128 Lower middle income Population (m) 242.3 Starting a business (rank) 166 Registering property (rank) 98 Trading across borders (rank) 37 Procedures (number) 9 Procedures (number) 6 Documents to export (number) 4 Time (days) 47 Time (days) 22 Time to export (days) 17 Cost (% of income per capita) 22.7 Cost (% of property value) 10.8 Cost to export (US$ per container) 644 Minimum capital (% of income per capita) 42.0 Documents to import (number) 7 Getting credit (rank) 129 Time to import (days) 23 Dealing with construction permits (rank) 75 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 660 Procedures (number) 13 Depth of credit information index (0-6) 4 Time (days) 158 Public registry coverage (% of adults) 36.0 Enforcing contracts (rank) 144 Cost (% of income per capita) 95.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 40 Time (days) 498 ✔ Getting electricity (rank) 147 Protecting investors (rank) 49 Cost (% of claim) 139.4 Procedures (number) 6 Extent of disclosure index (0-10) 10 Time (days) 108 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 148 Cost (% of income per capita) 1,243.7 Ease of shareholder suits index (0-10) 3 Time (years) 5.5 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 18 Recovery rate (cents on the dollar) 14.2 Paying taxes (rank) 131 Payments (number per year) 51 Time (hours per year) 259 Total tax rate (% of profit) 34.5 IRAN, ISLAMIC REP. Middle East & North Africa GNI per capita (US$) 6,360 Ease of doing business (rank) 145 Upper middle income Population (m) 74.8 ✘ Starting a business (rank) 87 Registering property (rank) 165 Trading across borders (rank) 143 Procedures (number) 7 Procedures (number) 9 Documents to export (number) 7 Time (days) 13 Time (days) 36 Time to export (days) 25 Cost (% of income per capita) 3.3 Cost (% of property value) 10.5 Cost to export (US$ per container) 1,470 Minimum capital (% of income per capita) 0.5 Documents to import (number) 8 Getting credit (rank) 83 Time to import (days) 32 Dealing with construction permits (rank) 166 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 2,100 Procedures (number) 16 Depth of credit information index (0-6) 5 Time (days) 320 Public registry coverage (% of adults) 25.9 Enforcing contracts (rank) 53 Cost (% of income per capita) 262.3 Private bureau coverage (% of adults) 31.9 Procedures (number) 39 Time (days) 505 Getting electricity (rank) 163 ✔ Protecting investors (rank) 150 Cost (% of claim) 17.0 Procedures (number) 7 Extent of disclosure index (0-10) 7 Time (days) 140 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 126 Cost (% of income per capita) 788.4 Ease of shareholder suits index (0-10) 0 Time (years) 4.5 Strength of investor protection index (0-10) 3.7 Cost (% of estate) 9 Recovery rate (cents on the dollar) 23.1 Paying taxes (rank) 129 Payments (number per year) 20 Time (hours per year) 344 Total tax rate (% of profit) 44.1 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 171 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business IRAQ Middle East & North Africa GNI per capita (US$) 2,640 Ease of doing business (rank) 165 Lower middle income Population (m) 33.0 Starting a business (rank) 177 Registering property (rank) 100 Trading across borders (rank) 179 Procedures (number) 10 Procedures (number) 5 Documents to export (number) 10 Time (days) 74 Time (days) 51 Time to export (days) 80 Cost (% of income per capita) 81.1 Cost (% of property value) 7.5 Cost to export (US$ per container) 3,550 Minimum capital (% of income per capita) 25.2 Documents to import (number) 10 Getting credit (rank) 176 Time to import (days) 82 Dealing with construction permits (rank) 84 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 3,650 Procedures (number) 12 Depth of credit information index (0-6) 0 Time (days) 187 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 141 Cost (% of income per capita) 109.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 51 Time (days) 520 Getting electricity (rank) 46 Protecting investors (rank) 128 Cost (% of claim) 28.1 Procedures (number) 5 Extent of disclosure index (0-10) 4 Time (days) 47 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 185 Cost (% of income per capita) 516.7 Ease of shareholder suits index (0-10) 4 Time (years) NO PRACTICE Strength of investor protection index (0-10) 4.3 Cost (% of estate) NO PRACTICE Recovery rate (cents on the dollar) 0.0 Paying taxes (rank) 65 Payments (number per year) 13 Time (hours per year) 312 Total tax rate (% of profit) 28.1 IRELAND OECD high income GNI per capita (US$) 38,580 Ease of doing business (rank) 15 High income Population (m) 4.5 ✔ Starting a business (rank) 10 ✔ Registering property (rank) 53 Trading across borders (rank) 28 Procedures (number) 4 Procedures (number) 5 Documents to export (number) 4 Time (days) 10 Time (days) 38 Time to export (days) 7 Cost (% of income per capita) 0.3 Cost (% of property value) 2.5 Cost to export (US$ per container) 1,135 Minimum capital (% of income per capita) 0.0 Documents to import (number) 4 Getting credit (rank) 12 Time to import (days) 12 Dealing with construction permits (rank) 106 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,121 Procedures (number) 12 Depth of credit information index (0-6) 5 Time (days) 156 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 63 Cost (% of income per capita) 626.1 Private bureau coverage (% of adults) 100.0 Procedures (number) 21 Time (days) 650 Getting electricity (rank) 95 Protecting investors (rank) 6 Cost (% of claim) 26.9 Procedures (number) 5 Extent of disclosure index (0-10) 10 Time (days) 205 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 9 Cost (% of income per capita) 94.2 Ease of shareholder suits index (0-10) 9 Time (years) 0.4 Strength of investor protection index (0-10) 8.3 Cost (% of estate) 9 Recovery rate (cents on the dollar) 87.5 Paying taxes (rank) 6 Payments (number per year) 8 Time (hours per year) 80 Total tax rate (% of profit) 26.4 ISRAEL OECD high income GNI per capita (US$) 28,930 Ease of doing business (rank) 38 High income Population (m) 7.8 Starting a business (rank) 41 ✔ Registering property (rank) 144 Trading across borders (rank) 10 Procedures (number) 5 Procedures (number) 6 Documents to export (number) 5 Time (days) 21 Time (days) 81 Time to export (days) 10 Cost (% of income per capita) 4.0 Cost (% of property value) 7.3 Cost to export (US$ per container) 620 Minimum capital (% of income per capita) 0.0 Documents to import (number) 4 Getting credit (rank) 12 Time to import (days) 10 Dealing with construction permits (rank) 139 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 565 Procedures (number) 19 Depth of credit information index (0-6) 5 Time (days) 212 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 94 Cost (% of income per capita) 86.4 Private bureau coverage (% of adults) 100.0 Procedures (number) 35 Time (days) 890 Getting electricity (rank) 91 Protecting investors (rank) 6 Cost (% of claim) 25.3 Procedures (number) 6 Extent of disclosure index (0-10) 7 Time (days) 132 Extent of director liability index (0-10) 9 Resolving insolvency (rank) 47 Cost (% of income per capita) 13.8 Ease of shareholder suits index (0-10) 9 Time (years) 4.0 Strength of investor protection index (0-10) 8.3 Cost (% of estate) 23 Recovery rate (cents on the dollar) 45.9 Paying taxes (rank) 82 Payments (number per year) 33 Time (hours per year) 235 Total tax rate (% of profit) 30.5 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 172 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business ITALY OECD high income GNI per capita (US$) 35,330 Ease of doing business (rank) 73 High income Population (m) 60.8 Starting a business (rank) 84 ✔ Registering property (rank) 39 Trading across borders (rank) 55 Procedures (number) 6 Procedures (number) 3 Documents to export (number) 4 Time (days) 6 Time (days) 24 Time to export (days) 19 Cost (% of income per capita) 16.5 Cost (% of property value) 4.5 Cost to export (US$ per container) 1,145 Minimum capital (% of income per capita) 9.7 Documents to import (number) 4 Getting credit (rank) 104 Time to import (days) 18 Dealing with construction permits (rank) 103 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,145 Procedures (number) 11 Depth of credit information index (0-6) 5 Time (days) 234 Public registry coverage (% of adults) 24.1 Enforcing contracts (rank) 160 Cost (% of income per capita) 184.2 Private bureau coverage (% of adults) 100.0 Procedures (number) 41 Time (days) 1,210 ✔ Getting electricity (rank) 107 Protecting investors (rank) 49 Cost (% of claim) 29.9 Procedures (number) 5 Extent of disclosure index (0-10) 7 Time (days) 155 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 31 Cost (% of income per capita) 319.2 Ease of shareholder suits index (0-10) 7 Time (years) 1.8 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 22 Recovery rate (cents on the dollar) 63.4 Paying taxes (rank) 131 Payments (number per year) 15 Time (hours per year) 269 Total tax rate (% of profit) 68.3 JAMAICA Latin America & Caribbean GNI per capita (US$) 4,980 Ease of doing business (rank) 90 Upper middle income Population (m) 2.7 Starting a business (rank) 21 Registering property (rank) 105 ✔ Trading across borders (rank) 106 Procedures (number) 6 Procedures (number) 6 Documents to export (number) 6 Time (days) 7 Time (days) 37 Time to export (days) 20 Cost (% of income per capita) 6.7 Cost (% of property value) 7.5 Cost to export (US$ per container) 1,500 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 Getting credit (rank) 104 Time to import (days) 17 Dealing with construction permits (rank) 50 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,560 Procedures (number) 8 Depth of credit information index (0-6) 0 Time (days) 145 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 129 Cost (% of income per capita) 212.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 35 Time (days) 655 Getting electricity (rank) 123 Protecting investors (rank) 82 Cost (% of claim) 45.6 Procedures (number) 6 Extent of disclosure index (0-10) 4 Time (days) 96 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 32 Cost (% of income per capita) 557.0 Ease of shareholder suits index (0-10) 4 Time (years) 1.1 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 18 Recovery rate (cents on the dollar) 63.1 ✔ Paying taxes (rank) 163 Payments (number per year) 36 Time (hours per year) 368 Total tax rate (% of profit) 45.6 JAPAN OECD high income GNI per capita (US$) 45,180 Ease of doing business (rank) 24 High income Population (m) 127.8 Starting a business (rank) 114 Registering property (rank) 64 Trading across borders (rank) 19 Procedures (number) 8 Procedures (number) 6 Documents to export (number) 3 Time (days) 23 Time (days) 14 Time to export (days) 10 Cost (% of income per capita) 7.5 Cost (% of property value) 5.8 Cost to export (US$ per container) 880 Minimum capital (% of income per capita) 0.0 Documents to import (number) 5 Getting credit (rank) 23 Time to import (days) 11 Dealing with construction permits (rank) 72 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 970 Procedures (number) 14 Depth of credit information index (0-6) 6 Time (days) 193 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 35 Cost (% of income per capita) 28.5 Private bureau coverage (% of adults) 100.0 Procedures (number) 30 Time (days) 360 Getting electricity (rank) 27 Protecting investors (rank) 19 Cost (% of claim) 32.2 Procedures (number) 3 Extent of disclosure index (0-10) 7 Time (days) 105 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 1 Cost (% of income per capita) 0.0 Ease of shareholder suits index (0-10) 8 Time (years) 0.6 Strength of investor protection index (0-10) 7.0 Cost (% of estate) 4 Recovery rate (cents on the dollar) 92.8 ✔ Paying taxes (rank) 127 Payments (number per year) 14 Time (hours per year) 330 Total tax rate (% of profit) 50.0 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 173 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business JORDAN Middle East & North Africa GNI per capita (US$) 4,380 Ease of doing business (rank) 106 Upper middle income Population (m) 6.2 Starting a business (rank) 103 Registering property (rank) 102 Trading across borders (rank) 52 Procedures (number) 7 Procedures (number) 7 Documents to export (number) 5 Time (days) 12 Time (days) 21 Time to export (days) 13 Cost (% of income per capita) 13.8 Cost (% of property value) 7.5 Cost to export (US$ per container) 825 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 Getting credit (rank) 167 Time to import (days) 15 Dealing with construction permits (rank) 102 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 1,335 Procedures (number) 17 Depth of credit information index (0-6) 2 Time (days) 70 Public registry coverage (% of adults) 1.9 Enforcing contracts (rank) 129 Cost (% of income per capita) 529.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 38 Time (days) 689 Getting electricity (rank) 38 Protecting investors (rank) 128 Cost (% of claim) 31.2 Procedures (number) 5 Extent of disclosure index (0-10) 5 Time (days) 47 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 112 Cost (% of income per capita) 292.3 Ease of shareholder suits index (0-10) 4 Time (years) 4.3 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 9 Recovery rate (cents on the dollar) 27.4 Paying taxes (rank) 35 Payments (number per year) 25 Time (hours per year) 151 Total tax rate (% of profit) 28.1 KAZAKHSTAN Eastern Europe & Central Asia GNI per capita (US$) 8,220 Ease of doing business (rank) 49 Upper middle income Population (m) 16.6 ✔ Starting a business (rank) 25 Registering property (rank) 28 Trading across borders (rank) 182 Procedures (number) 6 Procedures (number) 4 Documents to export (number) 9 Time (days) 19 Time (days) 40 Time to export (days) 81 Cost (% of income per capita) 0.6 Cost (% of property value) 0.1 Cost to export (US$ per container) 4,685 Minimum capital (% of income per capita) 0.0 Documents to import (number) 12 ✔ Getting credit (rank) 83 Time to import (days) 69 Dealing with construction permits (rank) 155 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 4,665 Procedures (number) 32 Depth of credit information index (0-6) 5 Time (days) 189 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 28 Cost (% of income per capita) 103.5 Private bureau coverage (% of adults) 39.3 Procedures (number) 37 Time (days) 370 Getting electricity (rank) 80 Protecting investors (rank) 10 Cost (% of claim) 22.0 Procedures (number) 6 Extent of disclosure index (0-10) 9 Time (days) 88 Extent of director liability index (0-10) 6 ✔ Resolving insolvency (rank) 55 Cost (% of income per capita) 71.1 Ease of shareholder suits index (0-10) 9 Time (years) 1.5 Strength of investor protection index (0-10) 8.0 Cost (% of estate) 15 Recovery rate (cents on the dollar) 43.1 Paying taxes (rank) 17 Payments (number per year) 7 Time (hours per year) 188 Total tax rate (% of profit) 28.6 KENYA Sub-Saharan Africa GNI per capita (US$) 820 Ease of doing business (rank) 121 Low income Population (m) 41.6 Starting a business (rank) 126 Registering property (rank) 161 Trading across borders (rank) 148 Procedures (number) 10 Procedures (number) 9 Documents to export (number) 8 Time (days) 32 Time (days) 73 Time to export (days) 26 Cost (% of income per capita) 40.4 Cost (% of property value) 4.3 Cost to export (US$ per container) 2,255 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 Getting credit (rank) 12 Time to import (days) 26 Dealing with construction permits (rank) 45 Strength of legal rights index (0-10) 10 Cost to import (US$ per container) 2,350 Procedures (number) 9 Depth of credit information index (0-6) 4 Time (days) 125 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 149 Cost (% of income per capita) 211.9 Private bureau coverage (% of adults) 4.9 Procedures (number) 44 Time (days) 465 Getting electricity (rank) 162 Protecting investors (rank) 100 Cost (% of claim) 47.2 Procedures (number) 6 Extent of disclosure index (0-10) 3 Time (days) 146 Extent of director liability index (0-10) 2 Resolving insolvency (rank) 100 Cost (% of income per capita) 1,208.2 Ease of shareholder suits index (0-10) 10 Time (years) 4.5 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 22 Recovery rate (cents on the dollar) 29.5 ✔ Paying taxes (rank) 164 Payments (number per year) 41 Time (hours per year) 340 Total tax rate (% of profit) 44.4 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 174 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business KIRIBATI East Asia & Pacific GNI per capita (US$) 2,110 Ease of doing business (rank) 117 Lower middle income Population (m) 0.1 Starting a business (rank) 145 Registering property (rank) 71 Trading across borders (rank) 88 Procedures (number) 7 Procedures (number) 5 Documents to export (number) 6 Time (days) 31 Time (days) 513 Time to export (days) 21 Cost (% of income per capita) 22.3 Cost (% of property value) 0.0 Cost to export (US$ per container) 1,120 Minimum capital (% of income per capita) 21.3 Documents to import (number) 7 Getting credit (rank) 159 Time to import (days) 21 Dealing with construction permits (rank) 120 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 1,120 Procedures (number) 16 Depth of credit information index (0-6) 0 Time (days) 170 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 73 Cost (% of income per capita) 164.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 32 Time (days) 660 Getting electricity (rank) 159 Protecting investors (rank) 49 Cost (% of claim) 25.8 Procedures (number) 6 Extent of disclosure index (0-10) 6 Time (days) 97 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 185 Cost (% of income per capita) 5,199.7 Ease of shareholder suits index (0-10) 7 Time (years) NO PRACTICE Strength of investor protection index (0-10) 6.0 Cost (% of estate) NO PRACTICE Recovery rate (cents on the dollar) 0.0 Paying taxes (rank) 9 Payments (number per year) 7 Time (hours per year) 120 Total tax rate (% of profit) 31.8 KOREA, REP. OECD high income GNI per capita (US$) 20,870 Ease of doing business (rank) 8 High income Population (m) 49.8 Starting a business (rank) 24 Registering property (rank) 75 Trading across borders (rank) 3 Procedures (number) 5 Procedures (number) 7 Documents to export (number) 3 Time (days) 7 Time (days) 11 Time to export (days) 7 Cost (% of income per capita) 14.6 Cost (% of property value) 5.1 Cost to export (US$ per container) 665 Minimum capital (% of income per capita) 0.0 Documents to import (number) 3 Getting credit (rank) 12 Time to import (days) 7 Dealing with construction permits (rank) 26 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 695 Procedures (number) 11 Depth of credit information index (0-6) 6 Time (days) 29 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 2 Cost (% of income per capita) 127.2 Private bureau coverage (% of adults) 100.0 Procedures (number) 33 Time (days) 230 ✔ Getting electricity (rank) 3 ✔ Protecting investors (rank) 49 Cost (% of claim) 10.3 Procedures (number) 4 Extent of disclosure index (0-10) 7 Time (days) 28 Extent of director liability index (0-10) 4 ✔ Resolving insolvency (rank) 14 Cost (% of income per capita) 33.3 Ease of shareholder suits index (0-10) 7 Time (years) 1.5 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 4 Recovery rate (cents on the dollar) 81.8 ✔ Paying taxes (rank) 30 Payments (number per year) 10 Time (hours per year) 207 Total tax rate (% of profit) 29.8 KOSOVO Eastern Europe & Central Asia GNI per capita (US$) 3,520 Ease of doing business (rank) 98 Lower middle income Population (m) 1.8 ✔ Starting a business (rank) 126 Registering property (rank) 76 Trading across borders (rank) 124 Procedures (number) 9 Procedures (number) 8 Documents to export (number) 8 Time (days) 52 Time (days) 33 Time to export (days) 15 Cost (% of income per capita) 23.0 Cost (% of property value) 0.6 Cost to export (US$ per container) 1,775 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 23 Time to import (days) 15 Dealing with construction permits (rank) 144 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,810 Procedures (number) 16 Depth of credit information index (0-6) 5 Time (days) 156 Public registry coverage (% of adults) 22.2 Enforcing contracts (rank) 138 Cost (% of income per capita) 2,986.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 53 Time (days) 420 Getting electricity (rank) 116 ✔ Protecting investors (rank) 100 Cost (% of claim) 33.0 Procedures (number) 7 Extent of disclosure index (0-10) 6 Time (days) 48 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 87 Cost (% of income per capita) 915.4 Ease of shareholder suits index (0-10) 3 Time (years) 2.0 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 15 Recovery rate (cents on the dollar) 34.7 Paying taxes (rank) 44 Payments (number per year) 33 Time (hours per year) 164 Total tax rate (% of profit) 15.4 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 175 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business KUWAIT Middle East & North Africa GNI per capita (US$) 47,982 Ease of doing business (rank) 82 High income Population (m) 2.8 Starting a business (rank) 142 Registering property (rank) 89 Trading across borders (rank) 113 Procedures (number) 12 Procedures (number) 8 Documents to export (number) 7 Time (days) 32 Time (days) 47 Time to export (days) 16 Cost (% of income per capita) 1.1 Cost (% of property value) 0.5 Cost to export (US$ per container) 1,085 Minimum capital (% of income per capita) 56.7 Documents to import (number) 10 Getting credit (rank) 104 Time to import (days) 19 Dealing with construction permits (rank) 119 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 1,242 Procedures (number) 24 Depth of credit information index (0-6) 4 Time (days) 130 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 117 Cost (% of income per capita) 96.1 Private bureau coverage (% of adults) 31.0 Procedures (number) 50 Time (days) 566 Getting electricity (rank) 55 Protecting investors (rank) 32 Cost (% of claim) 18.8 Procedures (number) 7 Extent of disclosure index (0-10) 7 Time (days) 42 Extent of director liability index (0-10) 7 Resolving insolvency (rank) 92 Cost (% of income per capita) 43.6 Ease of shareholder suits index (0-10) 5 Time (years) 4.2 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 10 Recovery rate (cents on the dollar) 31.7 Paying taxes (rank) 11 Payments (number per year) 12 Time (hours per year) 98 Total tax rate (% of profit) 10.7 KYRGYZ REPUBLIC Eastern Europe & Central Asia GNI per capita (US$) 920 Ease of doing business (rank) 70 Low income Population (m) 5.5 Starting a business (rank) 15 Registering property (rank) 11 Trading across borders (rank) 174 Procedures (number) 2 Procedures (number) 4 Documents to export (number) 8 Time (days) 10 Time (days) 5 Time to export (days) 63 Cost (% of income per capita) 2.8 Cost (% of property value) 1.8 Cost to export (US$ per container) 4,160 Minimum capital (% of income per capita) 0.0 Documents to import (number) 10 Getting credit (rank) 12 Time to import (days) 75 Dealing with construction permits (rank) 67 Strength of legal rights index (0-10) 10 Cost to import (US$ per container) 4,700 Procedures (number) 12 Depth of credit information index (0-6) 4 Time (days) 142 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 47 Cost (% of income per capita) 140.6 Private bureau coverage (% of adults) 24.6 Procedures (number) 38 Time (days) 260 Getting electricity (rank) 177 Protecting investors (rank) 13 Cost (% of claim) 29.0 Procedures (number) 7 Extent of disclosure index (0-10) 8 Time (days) 159 Extent of director liability index (0-10) 7 Resolving insolvency (rank) 155 Cost (% of income per capita) 2,428.6 Ease of shareholder suits index (0-10) 8 Time (years) 4.0 Strength of investor protection index (0-10) 7.7 Cost (% of estate) 15 Recovery rate (cents on the dollar) 9.1 Paying taxes (rank) 168 Payments (number per year) 51 Time (hours per year) 210 Total tax rate (% of profit) 68.9 LAO PDR East Asia & Pacific GNI per capita (US$) 1,130 Ease of doing business (rank) 163 Lower middle income Population (m) 6.3 ✔ Starting a business (rank) 81 Registering property (rank) 74 ✔ Trading across borders (rank) 160 Procedures (number) 6 Procedures (number) 5 Documents to export (number) 10 Time (days) 92 Time (days) 98 Time to export (days) 26 Cost (% of income per capita) 7.1 Cost (% of property value) 1.1 Cost to export (US$ per container) 2,140 Minimum capital (% of income per capita) 0.0 Documents to import (number) 10 Getting credit (rank) 167 Time to import (days) 26 Dealing with construction permits (rank) 87 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 2,125 Procedures (number) 23 Depth of credit information index (0-6) 0 Time (days) 108 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 114 Cost (% of income per capita) 48.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 42 Time (days) 443 Getting electricity (rank) 138 Protecting investors (rank) 184 Cost (% of claim) 31.6 Procedures (number) 5 Extent of disclosure index (0-10) 2 Time (days) 134 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 185 Cost (% of income per capita) 2,130.5 Ease of shareholder suits index (0-10) 2 Time (years) NO PRACTICE Strength of investor protection index (0-10) 1.7 Cost (% of estate) NO PRACTICE Recovery rate (cents on the dollar) 0.0 ✔ Paying taxes (rank) 126 Payments (number per year) 34 Time (hours per year) 362 Total tax rate (% of profit) 33.3 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 176 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business LATVIA Eastern Europe & Central Asia GNI per capita (US$) 12,350 Ease of doing business (rank) 25 Upper middle income Population (m) 2.2 Starting a business (rank) 59 Registering property (rank) 31 Trading across borders (rank) 16 Procedures (number) 4 Procedures (number) 5 Documents to export (number) 5 Time (days) 16 Time (days) 18 Time to export (days) 10 Cost (% of income per capita) 2.3 Cost (% of property value) 2.0 Cost to export (US$ per container) 600 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 Getting credit (rank) 4 Time to import (days) 11 Dealing with construction permits (rank) 113 Strength of legal rights index (0-10) 10 Cost to import (US$ per container) 801 Procedures (number) 21 Depth of credit information index (0-6) 5 Time (days) 203 Public registry coverage (% of adults) 63.8 Enforcing contracts (rank) 24 Cost (% of income per capita) 18.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 27 Time (days) 469 Getting electricity (rank) 83 Protecting investors (rank) 70 Cost (% of claim) 23.1 Procedures (number) 5 Extent of disclosure index (0-10) 5 Time (days) 108 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 33 Cost (% of income per capita) 389.1 Ease of shareholder suits index (0-10) 8 Time (years) 3.0 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 13 Recovery rate (cents on the dollar) 59.8 Paying taxes (rank) 52 Payments (number per year) 7 Time (hours per year) 264 Total tax rate (% of profit) 36.6 LEBANON Middle East & North Africa GNI per capita (US$) 9,110 Ease of doing business (rank) 115 Upper middle income Population (m) 4.3 Starting a business (rank) 114 Registering property (rank) 108 Trading across borders (rank) 95 Procedures (number) 5 Procedures (number) 8 Documents to export (number) 5 Time (days) 9 Time (days) 25 Time to export (days) 22 Cost (% of income per capita) 67.0 Cost (% of property value) 5.8 Cost to export (US$ per container) 1,080 Minimum capital (% of income per capita) 35.2 Documents to import (number) 7 Getting credit (rank) 104 Time to import (days) 30 Dealing with construction permits (rank) 172 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,365 Procedures (number) 19 Depth of credit information index (0-6) 5 Time (days) 219 Public registry coverage (% of adults) 18.6 Enforcing contracts (rank) 121 Cost (% of income per capita) 301.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 37 Time (days) 721 Getting electricity (rank) 47 Protecting investors (rank) 100 Cost (% of claim) 30.8 Procedures (number) 5 Extent of disclosure index (0-10) 9 Time (days) 75 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 131 Cost (% of income per capita) 99.5 Ease of shareholder suits index (0-10) 5 Time (years) 4.0 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 22 Recovery rate (cents on the dollar) 20.9 Paying taxes (rank) 37 Payments (number per year) 19 Time (hours per year) 180 Total tax rate (% of profit) 30.2 LESOTHO Sub-Saharan Africa GNI per capita (US$) 1,220 Ease of doing business (rank) 136 Lower middle income Population (m) 2.2 ✔ Starting a business (rank) 79 Registering property (rank) 157 Trading across borders (rank) 144 Procedures (number) 7 Procedures (number) 6 Documents to export (number) 7 Time (days) 24 Time (days) 101 Time to export (days) 31 Cost (% of income per capita) 13.0 Cost (% of property value) 7.9 Cost to export (US$ per container) 1,695 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 Getting credit (rank) 154 Time to import (days) 35 Dealing with construction permits (rank) 140 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,945 Procedures (number) 11 Depth of credit information index (0-6) 0 Time (days) 330 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 139 Cost (% of income per capita) 950.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 41 Time (days) 615 Getting electricity (rank) 133 ✔ Protecting investors (rank) 100 Cost (% of claim) 31.3 Procedures (number) 5 Extent of disclosure index (0-10) 3 Time (days) 125 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 75 Cost (% of income per capita) 2,275.9 Ease of shareholder suits index (0-10) 8 Time (years) 2.6 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 8 Recovery rate (cents on the dollar) 37.6 Paying taxes (rank) 95 Payments (number per year) 33 Time (hours per year) 324 Total tax rate (% of profit) 16.0 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 177 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business LIBERIA Sub-Saharan Africa GNI per capita (US$) 240 Ease of doing business (rank) 149 Low income Population (m) 4.1 Starting a business (rank) 38 Registering property (rank) 178 Trading across borders (rank) 137 Procedures (number) 4 Procedures (number) 10 Documents to export (number) 10 Time (days) 6 Time (days) 50 Time to export (days) 15 Cost (% of income per capita) 52.7 Cost (% of property value) 13.1 Cost to export (US$ per container) 1,220 Minimum capital (% of income per capita) 0.0 Documents to import (number) 11 Getting credit (rank) 104 Time to import (days) 28 Dealing with construction permits (rank) 126 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,320 Procedures (number) 23 Depth of credit information index (0-6) 1 Time (days) 75 Public registry coverage (% of adults) 1.1 ✔ Enforcing contracts (rank) 163 Cost (% of income per capita) 559.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 40 Time (days) 1,280 ✔ Getting electricity (rank) 145 Protecting investors (rank) 150 Cost (% of claim) 35.0 Procedures (number) 4 Extent of disclosure index (0-10) 4 Time (days) 465 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 159 Cost (% of income per capita) 3,528.6 Ease of shareholder suits index (0-10) 6 Time (years) 3.0 Strength of investor protection index (0-10) 3.7 Cost (% of estate) 43 Recovery rate (cents on the dollar) 8.5 ✔ Paying taxes (rank) 45 Payments (number per year) 33 Time (hours per year) 158 Total tax rate (% of profit) 27.4 LITHUANIA Eastern Europe & Central Asia GNI per capita (US$) 12,280 Ease of doing business (rank) 27 Upper middle income Population (m) 3.2 ✔ Starting a business (rank) 107 Registering property (rank) 5 Trading across borders (rank) 24 Procedures (number) 7 Procedures (number) 3 Documents to export (number) 5 Time (days) 20 Time (days) 3 Time to export (days) 9 Cost (% of income per capita) 1.1 Cost (% of property value) 0.8 Cost to export (US$ per container) 825 Minimum capital (% of income per capita) 31.3 Documents to import (number) 6 Getting credit (rank) 53 Time to import (days) 8 Dealing with construction permits (rank) 48 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 980 Procedures (number) 15 Depth of credit information index (0-6) 6 Time (days) 142 Public registry coverage (% of adults) 24.4 Enforcing contracts (rank) 14 Cost (% of income per capita) 22.3 Private bureau coverage (% of adults) 81.2 Procedures (number) 30 Time (days) 275 Getting electricity (rank) 75 Protecting investors (rank) 70 Cost (% of claim) 23.6 Procedures (number) 5 Extent of disclosure index (0-10) 7 Time (days) 148 Extent of director liability index (0-10) 4 ✔ Resolving insolvency (rank) 40 Cost (% of income per capita) 55.4 Ease of shareholder suits index (0-10) 6 Time (years) 1.5 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 7 Recovery rate (cents on the dollar) 51.0 Paying taxes (rank) 60 Payments (number per year) 11 Time (hours per year) 175 Total tax rate (% of profit) 43.7 LUXEMBOURG OECD high income GNI per capita (US$) 78,130 Ease of doing business (rank) 56 High income Population (m) 0.5 Starting a business (rank) 93 Registering property (rank) 134 Trading across borders (rank) 32 Procedures (number) 6 Procedures (number) 8 Documents to export (number) 5 Time (days) 19 Time (days) 29 Time to export (days) 7 Cost (% of income per capita) 1.9 Cost (% of property value) 10.1 Cost to export (US$ per container) 1,420 Minimum capital (% of income per capita) 20.9 Documents to import (number) 4 Getting credit (rank) 159 Time to import (days) 7 Dealing with construction permits (rank) 33 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 1,420 Procedures (number) 12 Depth of credit information index (0-6) 0 Time (days) 157 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 1 Cost (% of income per capita) 19.2 Private bureau coverage (% of adults) 0.0 Procedures (number) 26 Time (days) 321 Getting electricity (rank) 63 Protecting investors (rank) 128 Cost (% of claim) 9.7 Procedures (number) 5 Extent of disclosure index (0-10) 6 Time (days) 120 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 52 Cost (% of income per capita) 58.0 Ease of shareholder suits index (0-10) 3 Time (years) 2.0 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 15 Recovery rate (cents on the dollar) 43.5 Paying taxes (rank) 14 Payments (number per year) 23 Time (hours per year) 59 Total tax rate (% of profit) 21.0 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 178 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business MACEDONIA, FYR Eastern Europe & Central Asia GNI per capita (US$) 4,730 Ease of doing business (rank) 23 Upper middle income Population (m) 2.1 ✔ Starting a business (rank) 5 Registering property (rank) 50 Trading across borders (rank) 76 Procedures (number) 2 Procedures (number) 4 Documents to export (number) 6 Time (days) 2 Time (days) 40 Time to export (days) 12 Cost (% of income per capita) 1.9 Cost (% of property value) 3.2 Cost to export (US$ per container) 1,376 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 Getting credit (rank) 23 Time to import (days) 11 Dealing with construction permits (rank) 65 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,380 Procedures (number) 10 Depth of credit information index (0-6) 6 Time (days) 117 Public registry coverage (% of adults) 34.8 Enforcing contracts (rank) 59 Cost (% of income per capita) 517.8 Private bureau coverage (% of adults) 72.2 Procedures (number) 37 Time (days) 370 Getting electricity (rank) 101 Protecting investors (rank) 19 Cost (% of claim) 31.1 Procedures (number) 5 Extent of disclosure index (0-10) 9 Time (days) 151 Extent of director liability index (0-10) 7 Resolving insolvency (rank) 60 Cost (% of income per capita) 296.1 Ease of shareholder suits index (0-10) 5 Time (years) 2.0 Strength of investor protection index (0-10) 7.0 Cost (% of estate) 10 Recovery rate (cents on the dollar) 42.2 Paying taxes (rank) 24 Payments (number per year) 29 Time (hours per year) 119 Total tax rate (% of profit) 9.4 MADAGASCAR Sub-Saharan Africa GNI per capita (US$) 430 Ease of doing business (rank) 142 Low income Population (m) 21.3 ✔ Starting a business (rank) 17 Registering property (rank) 147 Trading across borders (rank) 112 Procedures (number) 2 Procedures (number) 6 Documents to export (number) 4 Time (days) 8 Time (days) 74 Time to export (days) 21 Cost (% of income per capita) 10.8 Cost (% of property value) 10.5 Cost to export (US$ per container) 1,197 Minimum capital (% of income per capita) 0.0 Documents to import (number) 9 Getting credit (rank) 180 Time to import (days) 24 Dealing with construction permits (rank) 148 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 1,555 Procedures (number) 16 Depth of credit information index (0-6) 0 Time (days) 172 Public registry coverage (% of adults) 0.1 Enforcing contracts (rank) 156 Cost (% of income per capita) 1,116.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 38 Time (days) 871 Getting electricity (rank) 183 Protecting investors (rank) 70 Cost (% of claim) 42.4 Procedures (number) 6 Extent of disclosure index (0-10) 5 Time (days) 450 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 151 Cost (% of income per capita) 9,056.7 Ease of shareholder suits index (0-10) 6 Time (years) 2.0 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 30 Recovery rate (cents on the dollar) 12.9 Paying taxes (rank) 68 Payments (number per year) 23 Time (hours per year) 201 Total tax rate (% of profit) 36.0 MALAWI Sub-Saharan Africa GNI per capita (US$) 340 Ease of doing business (rank) 157 Low income Population (m) 15.4 Starting a business (rank) 141 Registering property (rank) 97 ✔ Trading across borders (rank) 168 Procedures (number) 10 Procedures (number) 6 Documents to export (number) 10 Time (days) 39 Time (days) 69 Time to export (days) 34 Cost (% of income per capita) 83.7 Cost (% of property value) 3.6 Cost to export (US$ per container) 2,175 Minimum capital (% of income per capita) 0.0 Documents to import (number) 9 Getting credit (rank) 129 Time to import (days) 43 ✘ Dealing with construction permits (rank) 175 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 2,870 Procedures (number) 18 Depth of credit information index (0-6) 0 Time (days) 200 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 144 Cost (% of income per capita) 1,198.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 42 Time (days) 432 Getting electricity (rank) 179 Protecting investors (rank) 82 Cost (% of claim) 94.1 Procedures (number) 6 Extent of disclosure index (0-10) 4 Time (days) 222 Extent of director liability index (0-10) 7 Resolving insolvency (rank) 134 Cost (% of income per capita) 8,854.9 Ease of shareholder suits index (0-10) 5 Time (years) 2.6 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 25 Recovery rate (cents on the dollar) 18.5 ✘ Paying taxes (rank) 58 Payments (number per year) 26 Time (hours per year) 175 Total tax rate (% of profit) 34.7 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 179 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business MALAYSIA East Asia & Pacific GNI per capita (US$) 8,420 Ease of doing business (rank) 12 Upper middle income Population (m) 28.9 Starting a business (rank) 54 ✔ Registering property (rank) 33 Trading across borders (rank) 11 Procedures (number) 3 Procedures (number) 5 Documents to export (number) 5 Time (days) 6 Time (days) 14 Time to export (days) 11 Cost (% of income per capita) 15.1 Cost (% of property value) 3.3 Cost to export (US$ per container) 435 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 Getting credit (rank) 1 Time to import (days) 8 ✔ Dealing with construction permits (rank) 96 Strength of legal rights index (0-10) 10 Cost to import (US$ per container) 420 Procedures (number) 37 Depth of credit information index (0-6) 6 Time (days) 140 Public registry coverage (% of adults) 56.1 Enforcing contracts (rank) 33 Cost (% of income per capita) 17.5 Private bureau coverage (% of adults) 81.8 Procedures (number) 29 Time (days) 425 Getting electricity (rank) 28 Protecting investors (rank) 4 Cost (% of claim) 27.5 Procedures (number) 5 Extent of disclosure index (0-10) 10 Time (days) 46 Extent of director liability index (0-10) 9 Resolving insolvency (rank) 49 Cost (% of income per capita) 53.9 Ease of shareholder suits index (0-10) 7 Time (years) 1.5 Strength of investor protection index (0-10) 8.7 Cost (% of estate) 15 Recovery rate (cents on the dollar) 44.7 Paying taxes (rank) 15 Payments (number per year) 13 Time (hours per year) 133 Total tax rate (% of profit) 24.5 MALDIVES South Asia GNI per capita (US$) 6,530 Ease of doing business (rank) 95 Upper middle income Population (m) 0.3 Starting a business (rank) 63 Registering property (rank) 151 Trading across borders (rank) 138 Procedures (number) 5 Procedures (number) 6 Documents to export (number) 8 Time (days) 9 Time (days) 57 Time to export (days) 21 Cost (% of income per capita) 6.7 Cost (% of property value) 16.1 Cost to export (US$ per container) 1,550 Minimum capital (% of income per capita) 2.2 Documents to import (number) 9 Getting credit (rank) 167 Time to import (days) 22 Dealing with construction permits (rank) 19 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 1,526 Procedures (number) 8 Depth of credit information index (0-6) 0 Time (days) 174 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 92 Cost (% of income per capita) 8.2 Private bureau coverage (% of adults) 0.0 Procedures (number) 41 Time (days) 665 Getting electricity (rank) 120 Protecting investors (rank) 82 Cost (% of claim) 16.5 Procedures (number) 6 Extent of disclosure index (0-10) 0 Time (days) 108 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 41 Cost (% of income per capita) 380.5 Ease of shareholder suits index (0-10) 8 Time (years) 1.5 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 4 Recovery rate (cents on the dollar) 50.6 ✘ Paying taxes (rank) 57 Payments (number per year) 17 Time (hours per year) 252 Total tax rate (% of profit) 30.7 MALI Sub-Saharan Africa GNI per capita (US$) 610 Ease of doing business (rank) 151 Low income Population (m) 15.8 Starting a business (rank) 118 Registering property (rank) 91 Trading across borders (rank) 152 Procedures (number) 4 Procedures (number) 5 Documents to export (number) 6 Time (days) 8 Time (days) 29 Time to export (days) 26 Cost (% of income per capita) 86.2 Cost (% of property value) 12.0 Cost to export (US$ per container) 2,202 Minimum capital (% of income per capita) 331.9 Documents to import (number) 9 Getting credit (rank) 129 Time to import (days) 31 Dealing with construction permits (rank) 99 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 3,067 Procedures (number) 11 Depth of credit information index (0-6) 1 Time (days) 179 Public registry coverage (% of adults) 3.3 Enforcing contracts (rank) 133 Cost (% of income per capita) 418.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 36 Time (days) 620 Getting electricity (rank) 115 Protecting investors (rank) 150 Cost (% of claim) 52.0 Procedures (number) 4 Extent of disclosure index (0-10) 6 Time (days) 120 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 120 Cost (% of income per capita) 4,187.8 Ease of shareholder suits index (0-10) 4 Time (years) 3.6 Strength of investor protection index (0-10) 3.7 Cost (% of estate) 18 Recovery rate (cents on the dollar) 25.0 ✔ Paying taxes (rank) 166 Payments (number per year) 45 Time (hours per year) 270 Total tax rate (% of profit) 51.7 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 180 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business MALTA Middle East & North Africa GNI per capita (US$) 21,028 Ease of doing business (rank) 102 High income Population (m) 0.4 Starting a business (rank) 150 Registering property (rank) 80 Trading across borders (rank) 34 Procedures (number) 11 Procedures (number) 7 Documents to export (number) 6 Time (days) 40 Time (days) 15 Time to export (days) 11 Cost (% of income per capita) 8.9 Cost (% of property value) 5.2 Cost to export (US$ per container) 855 Minimum capital (% of income per capita) 1.5 Documents to import (number) 7 Getting credit (rank) 176 Time to import (days) 9 Dealing with construction permits (rank) 167 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 970 Procedures (number) 18 Depth of credit information index (0-6) 0 Time (days) 237 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 121 Cost (% of income per capita) 243.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 40 Time (days) 505 Getting electricity (rank) 111 Protecting investors (rank) 70 Cost (% of claim) 35.9 Procedures (number) 5 Extent of disclosure index (0-10) 3 Time (days) 136 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 67 Cost (% of income per capita) 463.6 Ease of shareholder suits index (0-10) 8 Time (years) 3.0 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 10 Recovery rate (cents on the dollar) 39.2 Paying taxes (rank) 27 Payments (number per year) 6 Time (hours per year) 139 Total tax rate (% of profit) 41.6 MARSHALL ISLANDS East Asia & Pacific GNI per capita (US$) 3,910 Ease of doing business (rank) 101 Lower middle income Population (m) 0.1 Starting a business (rank) 48 Registering property (rank) 185 Trading across borders (rank) 65 Procedures (number) 5 Procedures (number) NO PRACTICE Documents to export (number) 5 Time (days) 17 Time (days) NO PRACTICE Time to export (days) 21 Cost (% of income per capita) 13.6 Cost (% of property value) NO PRACTICE Cost to export (US$ per container) 945 Minimum capital (% of income per capita) 0.0 Documents to import (number) 5 Getting credit (rank) 83 Time to import (days) 25 Dealing with construction permits (rank) 4 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 970 Procedures (number) 8 Depth of credit information index (0-6) 0 Time (days) 87 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 66 Cost (% of income per capita) 22.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 36 Time (days) 476 Getting electricity (rank) 73 Protecting investors (rank) 158 Cost (% of claim) 27.4 Procedures (number) 5 Extent of disclosure index (0-10) 2 Time (days) 67 Extent of director liability index (0-10) 0 Resolving insolvency (rank) 140 Cost (% of income per capita) 772.4 Ease of shareholder suits index (0-10) 8 Time (years) 2.0 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 38 Recovery rate (cents on the dollar) 17.4 Paying taxes (rank) 92 Payments (number per year) 21 Time (hours per year) 128 Total tax rate (% of profit) 64.9 MAURITANIA Sub-Saharan Africa GNI per capita (US$) 1,000 Ease of doing business (rank) 167 Low income Population (m) 3.5 Starting a business (rank) 160 Registering property (rank) 65 Trading across borders (rank) 150 Procedures (number) 9 Procedures (number) 4 Documents to export (number) 8 Time (days) 19 Time (days) 49 Time to export (days) 34 Cost (% of income per capita) 47.6 Cost (% of property value) 4.7 Cost to export (US$ per container) 1,520 Minimum capital (% of income per capita) 327.9 Documents to import (number) 8 Getting credit (rank) 167 Time to import (days) 38 Dealing with construction permits (rank) 115 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,523 Procedures (number) 16 Depth of credit information index (0-6) 1 Time (days) 82 Public registry coverage (% of adults) 0.5 Enforcing contracts (rank) 77 Cost (% of income per capita) 2,796.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 46 Time (days) 370 Getting electricity (rank) 121 Protecting investors (rank) 150 Cost (% of claim) 23.2 Procedures (number) 5 Extent of disclosure index (0-10) 5 Time (days) 75 Extent of director liability index (0-10) 3 Resolving insolvency (rank) 153 Cost (% of income per capita) 7,516.9 Ease of shareholder suits index (0-10) 3 Time (years) 8.0 Strength of investor protection index (0-10) 3.7 Cost (% of estate) 9 Recovery rate (cents on the dollar) 10.3 Paying taxes (rank) 177 Payments (number per year) 37 Time (hours per year) 696 Total tax rate (% of profit) 68.2 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 181 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business MAURITIUS Sub-Saharan Africa GNI per capita (US$) 8,240 Ease of doing business (rank) 19 Upper middle income Population (m) 1.3 Starting a business (rank) 14 ✔ Registering property (rank) 60 Trading across borders (rank) 15 Procedures (number) 5 Procedures (number) 4 Documents to export (number) 5 Time (days) 6 Time (days) 15 Time to export (days) 10 Cost (% of income per capita) 3.3 Cost (% of property value) 10.6 Cost to export (US$ per container) 660 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 ✔ Getting credit (rank) 53 Time to import (days) 10 Dealing with construction permits (rank) 62 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 695 Procedures (number) 16 Depth of credit information index (0-6) 5 Time (days) 143 Public registry coverage (% of adults) 56.3 Enforcing contracts (rank) 58 Cost (% of income per capita) 28.5 Private bureau coverage (% of adults) 0.0 Procedures (number) 36 Time (days) 645 Getting electricity (rank) 44 Protecting investors (rank) 13 Cost (% of claim) 16.3 Procedures (number) 4 Extent of disclosure index (0-10) 6 Time (days) 84 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 64 Cost (% of income per capita) 295.1 Ease of shareholder suits index (0-10) 9 Time (years) 1.7 Strength of investor protection index (0-10) 7.7 Cost (% of estate) 15 Recovery rate (cents on the dollar) 40.9 Paying taxes (rank) 12 Payments (number per year) 7 Time (hours per year) 161 Total tax rate (% of profit) 28.5 MEXICO Latin America & Caribbean GNI per capita (US$) 9,240 Ease of doing business (rank) 48 Upper middle income Population (m) 114.8 ✔ Starting a business (rank) 36 Registering property (rank) 141 Trading across borders (rank) 61 Procedures (number) 6 Procedures (number) 7 Documents to export (number) 5 Time (days) 9 Time (days) 74 Time to export (days) 12 Cost (% of income per capita) 10.1 Cost (% of property value) 5.3 Cost to export (US$ per container) 1,450 Minimum capital (% of income per capita) 0.0 Documents to import (number) 4 Getting credit (rank) 40 Time to import (days) 12 Dealing with construction permits (rank) 36 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,780 Procedures (number) 10 Depth of credit information index (0-6) 6 Time (days) 69 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 76 Cost (% of income per capita) 322.7 Private bureau coverage (% of adults) 99.2 Procedures (number) 38 Time (days) 415 ✔ Getting electricity (rank) 130 Protecting investors (rank) 49 Cost (% of claim) 31.0 Procedures (number) 7 Extent of disclosure index (0-10) 8 Time (days) 95 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 26 Cost (% of income per capita) 382.8 Ease of shareholder suits index (0-10) 5 Time (years) 1.8 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 18 Recovery rate (cents on the dollar) 67.3 Paying taxes (rank) 107 Payments (number per year) 6 Time (hours per year) 337 Total tax rate (% of profit) 52.5 MICRONESIA, FED. STS. East Asia & Pacific GNI per capita (US$) 2,900 Ease of doing business (rank) 150 Lower middle income Population (m) 0.1 Starting a business (rank) 104 Registering property (rank) 185 Trading across borders (rank) 100 Procedures (number) 7 Procedures (number) NO PRACTICE Documents to export (number) 5 Time (days) 16 Time (days) NO PRACTICE Time to export (days) 30 Cost (% of income per capita) 144.2 Cost (% of property value) NO PRACTICE Cost to export (US$ per container) 1,295 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 Getting credit (rank) 129 Time to import (days) 30 Dealing with construction permits (rank) 42 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,295 Procedures (number) 15 Depth of credit information index (0-6) 0 Time (days) 114 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 149 Cost (% of income per capita) 32.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 34 Time (days) 885 Getting electricity (rank) 53 Protecting investors (rank) 177 Cost (% of claim) 66.0 Procedures (number) 3 Extent of disclosure index (0-10) 0 Time (days) 105 Extent of director liability index (0-10) 0 Resolving insolvency (rank) 166 Cost (% of income per capita) 424.0 Ease of shareholder suits index (0-10) 8 Time (years) 5.3 Strength of investor protection index (0-10) 2.7 Cost (% of estate) 38 Recovery rate (cents on the dollar) 3.4 Paying taxes (rank) 85 Payments (number per year) 21 Time (hours per year) 128 Total tax rate (% of profit) 58.7 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 182 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business MOLDOVA ș ă Eastern Europe & Central Asia GNI per capita (US$) 1,980 Ease of doing business (rank) 83 Lower middle income Population (m) 3.6 Starting a business (rank) 92 Registering property (rank) 16 Trading across borders (rank) 142 Procedures (number) 7 Procedures (number) 5 Documents to export (number) 7 Time (days) 9 Time (days) 5 Time to export (days) 32 Cost (% of income per capita) 5.7 Cost (% of property value) 0.9 Cost to export (US$ per container) 1,545 Minimum capital (% of income per capita) 8.7 Documents to import (number) 7 Getting credit (rank) 40 Time to import (days) 35 Dealing with construction permits (rank) 168 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,870 Procedures (number) 26 Depth of credit information index (0-6) 4 Time (days) 291 Public registry coverage (% of adults) 0.0 ✘ Enforcing contracts (rank) 26 Cost (% of income per capita) 69.3 Private bureau coverage (% of adults) 3.9 Procedures (number) 31 Time (days) 327 Getting electricity (rank) 161 ✔ Protecting investors (rank) 82 Cost (% of claim) 28.6 Procedures (number) 7 Extent of disclosure index (0-10) 7 Time (days) 140 Extent of director liability index (0-10) 3 ✔ Resolving insolvency (rank) 91 Cost (% of income per capita) 578.0 Ease of shareholder suits index (0-10) 6 Time (years) 2.8 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 9 Recovery rate (cents on the dollar) 32.0 ✘ Paying taxes (rank) 109 Payments (number per year) 48 Time (hours per year) 220 Total tax rate (% of profit) 31.2 MONGOLIA East Asia & Pacific GNI per capita (US$) 2,320 Ease of doing business (rank) 76 Lower middle income Population (m) 2.8 ✔ Starting a business (rank) 39 Registering property (rank) 22 Trading across borders (rank) 175 Procedures (number) 7 Procedures (number) 5 Documents to export (number) 10 Time (days) 12 Time (days) 11 Time to export (days) 49 Cost (% of income per capita) 2.4 Cost (% of property value) 2.1 Cost to export (US$ per container) 2,555 Minimum capital (% of income per capita) 0.0 Documents to import (number) 11 ✔ Getting credit (rank) 53 Time to import (days) 50 Dealing with construction permits (rank) 121 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 2,710 Procedures (number) 19 Depth of credit information index (0-6) 5 Time (days) 208 Public registry coverage (% of adults) 58.9 Enforcing contracts (rank) 29 Cost (% of income per capita) 39.2 Private bureau coverage (% of adults) 0.0 Procedures (number) 32 Time (days) 314 Getting electricity (rank) 169 ✔ Protecting investors (rank) 25 Cost (% of claim) 30.6 Procedures (number) 8 Extent of disclosure index (0-10) 6 Time (days) 126 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 127 Cost (% of income per capita) 1,012.6 Ease of shareholder suits index (0-10) 6 Time (years) 4.0 Strength of investor protection index (0-10) 6.7 Cost (% of estate) 8 Recovery rate (cents on the dollar) 22.7 Paying taxes (rank) 70 Payments (number per year) 41 Time (hours per year) 192 Total tax rate (% of profit) 24.6 MONTENEGRO Eastern Europe & Central Asia GNI per capita (US$) 7,060 Ease of doing business (rank) 51 Upper middle income Population (m) 0.6 Starting a business (rank) 58 Registering property (rank) 117 Trading across borders (rank) 42 Procedures (number) 6 Procedures (number) 7 Documents to export (number) 6 Time (days) 10 Time (days) 71 Time to export (days) 14 Cost (% of income per capita) 1.6 Cost (% of property value) 3.1 Cost to export (US$ per container) 855 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 ✔ Getting credit (rank) 4 Time to import (days) 14 ✔ Dealing with construction permits (rank) 176 Strength of legal rights index (0-10) 10 Cost to import (US$ per container) 915 Procedures (number) 16 Depth of credit information index (0-6) 5 Time (days) 267 Public registry coverage (% of adults) 25.2 Enforcing contracts (rank) 135 Cost (% of income per capita) 1,169.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 49 Time (days) 545 Getting electricity (rank) 69 Protecting investors (rank) 32 Cost (% of claim) 25.7 Procedures (number) 5 Extent of disclosure index (0-10) 5 Time (days) 71 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 44 Cost (% of income per capita) 490.3 Ease of shareholder suits index (0-10) 6 Time (years) 1.4 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 8 Recovery rate (cents on the dollar) 48.3 Paying taxes (rank) 81 Payments (number per year) 29 Time (hours per year) 320 Total tax rate (% of profit) 22.3 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 183 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business MOROCCO Middle East & North Africa GNI per capita (US$) 2,970 Ease of doing business (rank) 97 Lower middle income Population (m) 32.3 ✔ Starting a business (rank) 56 ✘ Registering property (rank) 163 Trading across borders (rank) 47 Procedures (number) 6 Procedures (number) 8 Documents to export (number) 6 Time (days) 12 Time (days) 75 Time to export (days) 11 Cost (% of income per capita) 15.5 Cost (% of property value) 5.9 Cost to export (US$ per container) 577 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 104 Time to import (days) 16 Dealing with construction permits (rank) 79 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 950 Procedures (number) 15 Depth of credit information index (0-6) 5 Time (days) 97 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 88 Cost (% of income per capita) 220.2 Private bureau coverage (% of adults) 17.2 Procedures (number) 40 Time (days) 510 Getting electricity (rank) 92 Protecting investors (rank) 100 Cost (% of claim) 25.2 Procedures (number) 5 Extent of disclosure index (0-10) 7 Time (days) 62 Extent of director liability index (0-10) 2 Resolving insolvency (rank) 86 Cost (% of income per capita) 2,515.2 Ease of shareholder suits index (0-10) 6 Time (years) 1.8 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 18 Recovery rate (cents on the dollar) 35.1 Paying taxes (rank) 110 Payments (number per year) 17 Time (hours per year) 238 Total tax rate (% of profit) 49.6 MOZAMBIQUE Sub-Saharan Africa GNI per capita (US$) 470 Ease of doing business (rank) 146 Low income Population (m) 23.9 Starting a business (rank) 96 Registering property (rank) 155 Trading across borders (rank) 134 Procedures (number) 9 Procedures (number) 8 Documents to export (number) 7 Time (days) 13 Time (days) 42 Time to export (days) 23 Cost (% of income per capita) 19.7 Cost (% of property value) 8.0 Cost to export (US$ per container) 1,100 Minimum capital (% of income per capita) 0.0 Documents to import (number) 10 Getting credit (rank) 129 Time to import (days) 28 Dealing with construction permits (rank) 135 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,545 Procedures (number) 14 Depth of credit information index (0-6) 4 Time (days) 377 Public registry coverage (% of adults) 4.4 Enforcing contracts (rank) 132 Cost (% of income per capita) 113.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 30 Time (days) 730 Getting electricity (rank) 174 Protecting investors (rank) 49 Cost (% of claim) 142.5 Procedures (number) 9 Extent of disclosure index (0-10) 5 Time (days) 117 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 147 Cost (% of income per capita) 2,394.7 Ease of shareholder suits index (0-10) 9 Time (years) 5.0 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 9 Recovery rate (cents on the dollar) 15.0 Paying taxes (rank) 105 Payments (number per year) 37 Time (hours per year) 230 Total tax rate (% of profit) 34.3 NAMIBIA Sub-Saharan Africa GNI per capita (US$) 4,700 Ease of doing business (rank) 87 Upper middle income Population (m) 2.3 Starting a business (rank) 133 ✘ Registering property (rank) 169 Trading across borders (rank) 140 Procedures (number) 10 Procedures (number) 8 Documents to export (number) 9 Time (days) 66 Time (days) 46 Time to export (days) 25 Cost (% of income per capita) 18.5 Cost (% of property value) 13.8 Cost to export (US$ per container) 1,800 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 Getting credit (rank) 40 Time to import (days) 20 Dealing with construction permits (rank) 56 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,905 Procedures (number) 12 Depth of credit information index (0-6) 4 Time (days) 139 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 41 Cost (% of income per capita) 110.9 Private bureau coverage (% of adults) 63.9 Procedures (number) 33 Time (days) 270 ✔ Getting electricity (rank) 87 Protecting investors (rank) 82 Cost (% of claim) 35.8 Procedures (number) 7 Extent of disclosure index (0-10) 5 Time (days) 38 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 59 Cost (% of income per capita) 482.2 Ease of shareholder suits index (0-10) 6 Time (years) 1.5 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 15 Recovery rate (cents on the dollar) 42.3 Paying taxes (rank) 112 Payments (number per year) 37 Time (hours per year) 350 Total tax rate (% of profit) 22.7 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 184 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business NEPAL South Asia GNI per capita (US$) 540 Ease of doing business (rank) 108 Low income Population (m) 30.5 Starting a business (rank) 105 Registering property (rank) 21 Trading across borders (rank) 171 Procedures (number) 7 Procedures (number) 3 Documents to export (number) 11 Time (days) 29 Time (days) 5 Time to export (days) 41 Cost (% of income per capita) 33.0 Cost (% of property value) 4.9 Cost to export (US$ per container) 1,975 Minimum capital (% of income per capita) 0.0 Documents to import (number) 11 Getting credit (rank) 70 Time to import (days) 38 Dealing with construction permits (rank) 97 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 2,095 Procedures (number) 13 Depth of credit information index (0-6) 3 Time (days) 115 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 137 Cost (% of income per capita) 654.6 Private bureau coverage (% of adults) 0.5 Procedures (number) 39 Time (days) 910 Getting electricity (rank) 96 Protecting investors (rank) 82 Cost (% of claim) 26.8 Procedures (number) 5 Extent of disclosure index (0-10) 6 Time (days) 70 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 121 Cost (% of income per capita) 1,762.8 Ease of shareholder suits index (0-10) 9 Time (years) 5.0 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 9 Recovery rate (cents on the dollar) 24.5 Paying taxes (rank) 114 Payments (number per year) 34 Time (hours per year) 326 Total tax rate (% of profit) 31.5 NETHERLANDS OECD high income GNI per capita (US$) 49,730 Ease of doing business (rank) 31 High income Population (m) 16.7 ✔ Starting a business (rank) 67 Registering property (rank) 49 ✔ Trading across borders (rank) 12 Procedures (number) 5 Procedures (number) 5 Documents to export (number) 4 Time (days) 5 Time (days) 7 Time to export (days) 6 Cost (% of income per capita) 5.1 Cost (% of property value) 6.1 Cost to export (US$ per container) 895 Minimum capital (% of income per capita) 49.4 Documents to import (number) 4 Getting credit (rank) 53 Time to import (days) 6 ✔ Dealing with construction permits (rank) 89 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 975 Procedures (number) 14 Depth of credit information index (0-6) 5 Time (days) 159 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 32 Cost (% of income per capita) 78.9 Private bureau coverage (% of adults) 81.7 Procedures (number) 26 Time (days) 514 Getting electricity (rank) 67 ✔ Protecting investors (rank) 117 Cost (% of claim) 23.9 Procedures (number) 5 Extent of disclosure index (0-10) 4 Time (days) 143 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 6 Cost (% of income per capita) 33.5 Ease of shareholder suits index (0-10) 6 Time (years) 1.1 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 4 Recovery rate (cents on the dollar) 88.8 Paying taxes (rank) 29 Payments (number per year) 9 Time (hours per year) 127 Total tax rate (% of profit) 40.1 NEW ZEALAND OECD high income GNI per capita (US$) 36,648 Ease of doing business (rank) 3 High income Population (m) 4.4 Starting a business (rank) 1 Registering property (rank) 2 Trading across borders (rank) 25 Procedures (number) 1 Procedures (number) 2 Documents to export (number) 5 Time (days) 1 Time (days) 2 Time to export (days) 10 Cost (% of income per capita) 0.4 Cost (% of property value) 0.1 Cost to export (US$ per container) 870 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 ✔ Getting credit (rank) 4 Time to import (days) 9 Dealing with construction permits (rank) 6 Strength of legal rights index (0-10) 10 Cost to import (US$ per container) 825 Procedures (number) 6 Depth of credit information index (0-6) 5 Time (days) 89 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 17 Cost (% of income per capita) 29.8 Private bureau coverage (% of adults) 100.0 Procedures (number) 30 Time (days) 216 Getting electricity (rank) 32 Protecting investors (rank) 1 Cost (% of claim) 27.2 Procedures (number) 5 Extent of disclosure index (0-10) 10 Time (days) 50 Extent of director liability index (0-10) 9 Resolving insolvency (rank) 13 Cost (% of income per capita) 76.1 Ease of shareholder suits index (0-10) 10 Time (years) 1.3 Strength of investor protection index (0-10) 9.7 Cost (% of estate) 4 Recovery rate (cents on the dollar) 83.0 Paying taxes (rank) 21 Payments (number per year) 8 Time (hours per year) 152 Total tax rate (% of profit) 33.5 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 185 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business NICARAGUA Latin America & Caribbean GNI per capita (US$) 1,170 Ease of doing business (rank) 119 Lower middle income Population (m) 5.9 Starting a business (rank) 131 Registering property (rank) 123 Trading across borders (rank) 81 Procedures (number) 8 Procedures (number) 8 Documents to export (number) 5 Time (days) 39 Time (days) 49 Time to export (days) 21 Cost (% of income per capita) 100.6 Cost (% of property value) 4.2 Cost to export (US$ per container) 1,140 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 Getting credit (rank) 104 Time to import (days) 20 Dealing with construction permits (rank) 154 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,245 Procedures (number) 16 Depth of credit information index (0-6) 5 Time (days) 218 Public registry coverage (% of adults) 10.8 Enforcing contracts (rank) 55 Cost (% of income per capita) 362.0 Private bureau coverage (% of adults) 29.5 Procedures (number) 37 Time (days) 409 Getting electricity (rank) 129 Protecting investors (rank) 100 Cost (% of claim) 26.8 Procedures (number) 6 Extent of disclosure index (0-10) 4 Time (days) 70 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 80 Cost (% of income per capita) 1,526.6 Ease of shareholder suits index (0-10) 6 Time (years) 2.2 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 15 Recovery rate (cents on the dollar) 36.0 Paying taxes (rank) 158 Payments (number per year) 42 Time (hours per year) 207 Total tax rate (% of profit) 65.0 NIGER Sub-Saharan Africa GNI per capita (US$) 360 Ease of doing business (rank) 176 Low income Population (m) 16.1 Starting a business (rank) 167 Registering property (rank) 87 ✔ Trading across borders (rank) 176 Procedures (number) 9 Procedures (number) 4 Documents to export (number) 8 Time (days) 17 Time (days) 35 Time to export (days) 59 Cost (% of income per capita) 112.8 Cost (% of property value) 11.0 Cost to export (US$ per container) 3,676 Minimum capital (% of income per capita) 572.8 Documents to import (number) 11 Getting credit (rank) 129 Time to import (days) 64 Dealing with construction permits (rank) 160 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 3,711 Procedures (number) 12 Depth of credit information index (0-6) 1 Time (days) 326 Public registry coverage (% of adults) 0.8 Enforcing contracts (rank) 140 Cost (% of income per capita) 1,612.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 39 Time (days) 545 Getting electricity (rank) 118 Protecting investors (rank) 158 Cost (% of claim) 59.6 Procedures (number) 4 Extent of disclosure index (0-10) 6 Time (days) 115 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 130 Cost (% of income per capita) 6,562.4 Ease of shareholder suits index (0-10) 3 Time (years) 5.0 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 18 Recovery rate (cents on the dollar) 21.7 Paying taxes (rank) 151 Payments (number per year) 41 Time (hours per year) 270 Total tax rate (% of profit) 43.8 NIGERIA Sub-Saharan Africa GNI per capita (US$) 1,200 Ease of doing business (rank) 131 Lower middle income Population (m) 162.5 Starting a business (rank) 119 Registering property (rank) 182 Trading across borders (rank) 154 Procedures (number) 8 Procedures (number) 13 Documents to export (number) 10 Time (days) 34 Time (days) 86 Time to export (days) 24 Cost (% of income per capita) 60.4 Cost (% of property value) 20.8 Cost to export (US$ per container) 1,380 Minimum capital (% of income per capita) 0.0 Documents to import (number) 10 Getting credit (rank) 23 Time to import (days) 39 Dealing with construction permits (rank) 88 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,540 Procedures (number) 15 Depth of credit information index (0-6) 4 Time (days) 85 Public registry coverage (% of adults) 0.1 Enforcing contracts (rank) 98 Cost (% of income per capita) 417.7 Private bureau coverage (% of adults) 4.1 Procedures (number) 40 Time (days) 457 Getting electricity (rank) 178 Protecting investors (rank) 70 Cost (% of claim) 32.0 Procedures (number) 8 Extent of disclosure index (0-10) 5 Time (days) 260 Extent of director liability index (0-10) 7 Resolving insolvency (rank) 105 Cost (% of income per capita) 873.9 Ease of shareholder suits index (0-10) 5 Time (years) 2.0 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 22 Recovery rate (cents on the dollar) 28.2 ✘ Paying taxes (rank) 155 Payments (number per year) 41 Time (hours per year) 956 Total tax rate (% of profit) 33.8 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 186 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business NORWAY OECD high income GNI per capita (US$) 88,890 Ease of doing business (rank) 6 High income Population (m) 5.0 ✔ Starting a business (rank) 43 Registering property (rank) 7 Trading across borders (rank) 21 Procedures (number) 5 Procedures (number) 1 Documents to export (number) 4 Time (days) 7 Time (days) 3 Time to export (days) 7 Cost (% of income per capita) 1.7 Cost (% of property value) 2.5 Cost to export (US$ per container) 1,125 Minimum capital (% of income per capita) 5.4 Documents to import (number) 5 Getting credit (rank) 70 Time to import (days) 7 ✔ Dealing with construction permits (rank) 23 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,100 Procedures (number) 10 Depth of credit information index (0-6) 4 Time (days) 123 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 4 Cost (% of income per capita) 30.2 Private bureau coverage (% of adults) 100.0 Procedures (number) 34 Time (days) 280 Getting electricity (rank) 14 Protecting investors (rank) 25 Cost (% of claim) 9.9 Procedures (number) 4 Extent of disclosure index (0-10) 7 Time (days) 66 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 3 Cost (% of income per capita) 6.5 Ease of shareholder suits index (0-10) 7 Time (years) 0.9 Strength of investor protection index (0-10) 6.7 Cost (% of estate) 1 Recovery rate (cents on the dollar) 90.8 Paying taxes (rank) 19 Payments (number per year) 4 Time (hours per year) 87 Total tax rate (% of profit) 41.6 OMAN Middle East & North Africa GNI per capita (US$) 23,315 Ease of doing business (rank) 47 High income Population (m) 2.8 Starting a business (rank) 73 Registering property (rank) 18 Trading across borders (rank) 49 Procedures (number) 5 Procedures (number) 2 Documents to export (number) 8 Time (days) 8 Time (days) 16 Time to export (days) 10 Cost (% of income per capita) 2.6 Cost (% of property value) 3.0 Cost to export (US$ per container) 745 Minimum capital (% of income per capita) 223.1 Documents to import (number) 8 ✔ Getting credit (rank) 83 Time to import (days) 9 Dealing with construction permits (rank) 59 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 680 Procedures (number) 13 Depth of credit information index (0-6) 5 Time (days) 174 Public registry coverage (% of adults) 37.3 Enforcing contracts (rank) 107 Cost (% of income per capita) 37.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 51 Time (days) 598 Getting electricity (rank) 54 Protecting investors (rank) 100 Cost (% of claim) 13.5 Procedures (number) 6 Extent of disclosure index (0-10) 8 Time (days) 62 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 77 Cost (% of income per capita) 51.3 Ease of shareholder suits index (0-10) 2 Time (years) 4.0 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 4 Recovery rate (cents on the dollar) 36.6 Paying taxes (rank) 10 Payments (number per year) 14 Time (hours per year) 62 Total tax rate (% of profit) 22.0 PAKISTAN South Asia GNI per capita (US$) 1,120 Ease of doing business (rank) 107 Lower middle income Population (m) 176.7 Starting a business (rank) 98 Registering property (rank) 126 Trading across borders (rank) 85 Procedures (number) 10 Procedures (number) 6 Documents to export (number) 8 Time (days) 21 Time (days) 50 Time to export (days) 21 Cost (% of income per capita) 9.9 Cost (% of property value) 7.8 Cost to export (US$ per container) 660 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 70 Time to import (days) 18 Dealing with construction permits (rank) 105 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 705 Procedures (number) 11 Depth of credit information index (0-6) 4 Time (days) 222 Public registry coverage (% of adults) 7.2 Enforcing contracts (rank) 155 Cost (% of income per capita) 216.0 Private bureau coverage (% of adults) 2.0 Procedures (number) 46 Time (days) 976 Getting electricity (rank) 171 Protecting investors (rank) 32 Cost (% of claim) 23.8 Procedures (number) 6 Extent of disclosure index (0-10) 6 Time (days) 206 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 78 Cost (% of income per capita) 1,673.7 Ease of shareholder suits index (0-10) 7 Time (years) 2.8 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 4 Recovery rate (cents on the dollar) 36.2 Paying taxes (rank) 162 Payments (number per year) 47 Time (hours per year) 560 Total tax rate (% of profit) 35.3 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 187 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business PALAU East Asia & Pacific GNI per capita (US$) 7,250 Ease of doing business (rank) 111 Upper middle income Population (m) 0.0 Starting a business (rank) 130 Registering property (rank) 17 Trading across borders (rank) 108 Procedures (number) 8 Procedures (number) 5 Documents to export (number) 5 Time (days) 28 Time (days) 14 Time to export (days) 29 Cost (% of income per capita) 5.2 Cost (% of property value) 0.4 Cost to export (US$ per container) 970 Minimum capital (% of income per capita) 13.8 Documents to import (number) 9 Getting credit (rank) 185 Time to import (days) 33 Dealing with construction permits (rank) 44 Strength of legal rights index (0-10) 1 Cost to import (US$ per container) 930 Procedures (number) 22 Depth of credit information index (0-6) 0 Time (days) 93 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 146 Cost (% of income per capita) 7.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 38 Time (days) 810 Getting electricity (rank) 78 Protecting investors (rank) 177 Cost (% of claim) 35.3 Procedures (number) 5 Extent of disclosure index (0-10) 0 Time (days) 125 Extent of director liability index (0-10) 0 Resolving insolvency (rank) 71 Cost (% of income per capita) 173.8 Ease of shareholder suits index (0-10) 8 Time (years) 1.0 Strength of investor protection index (0-10) 2.7 Cost (% of estate) 23 Recovery rate (cents on the dollar) 38.6 Paying taxes (rank) 83 Payments (number per year) 11 Time (hours per year) 142 Total tax rate (% of profit) 75.7 PANAMA Latin America & Caribbean GNI per capita (US$) 7,910 Ease of doing business (rank) 61 Upper middle income Population (m) 3.6 Starting a business (rank) 23 ✔ Registering property (rank) 107 Trading across borders (rank) 9 Procedures (number) 6 Procedures (number) 8 Documents to export (number) 3 Time (days) 7 Time (days) 28 Time to export (days) 9 Cost (% of income per capita) 8.8 Cost (% of property value) 5.3 Cost to export (US$ per container) 615 Minimum capital (% of income per capita) 0.0 Documents to import (number) 3 Getting credit (rank) 53 Time to import (days) 9 ✔ Dealing with construction permits (rank) 73 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 965 Procedures (number) 17 Depth of credit information index (0-6) 6 Time (days) 101 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 125 Cost (% of income per capita) 83.7 Private bureau coverage (% of adults) 57.9 Procedures (number) 32 Time (days) 686 Getting electricity (rank) 16 Protecting investors (rank) 82 Cost (% of claim) 50.0 Procedures (number) 5 Extent of disclosure index (0-10) 3 Time (days) 35 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 110 Cost (% of income per capita) 13.6 Ease of shareholder suits index (0-10) 9 Time (years) 2.5 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 25 Recovery rate (cents on the dollar) 27.5 ✔ Paying taxes (rank) 172 Payments (number per year) 60 Time (hours per year) 431 Total tax rate (% of profit) 42.0 PAPUA NEW GUINEA East Asia & Pacific GNI per capita (US$) 1,480 Ease of doing business (rank) 104 Lower middle income Population (m) 7.0 Starting a business (rank) 91 Registering property (rank) 88 Trading across borders (rank) 120 Procedures (number) 6 Procedures (number) 4 Documents to export (number) 7 Time (days) 51 Time (days) 72 Time to export (days) 23 Cost (% of income per capita) 13.6 Cost (% of property value) 5.1 Cost to export (US$ per container) 949 Minimum capital (% of income per capita) 0.0 Documents to import (number) 9 Getting credit (rank) 83 Time to import (days) 32 Dealing with construction permits (rank) 159 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 1,130 Procedures (number) 21 Depth of credit information index (0-6) 4 Time (days) 219 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 166 Cost (% of income per capita) 114.7 Private bureau coverage (% of adults) 2.9 Procedures (number) 42 Time (days) 591 Getting electricity (rank) 23 Protecting investors (rank) 49 Cost (% of claim) 110.3 Procedures (number) 4 Extent of disclosure index (0-10) 5 Time (days) 66 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 125 Cost (% of income per capita) 59.9 Ease of shareholder suits index (0-10) 8 Time (years) 3.0 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 23 Recovery rate (cents on the dollar) 23.5 Paying taxes (rank) 106 Payments (number per year) 33 Time (hours per year) 207 Total tax rate (% of profit) 42.2 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 188 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business PARAGUAY Latin America & Caribbean GNI per capita (US$) 2,970 Ease of doing business (rank) 103 Lower middle income Population (m) 6.6 Starting a business (rank) 111 Registering property (rank) 67 Trading across borders (rank) 155 Procedures (number) 7 Procedures (number) 6 Documents to export (number) 8 Time (days) 35 Time (days) 46 Time to export (days) 33 Cost (% of income per capita) 46.8 Cost (% of property value) 1.9 Cost to export (US$ per container) 1,440 Minimum capital (% of income per capita) 0.0 Documents to import (number) 10 Getting credit (rank) 83 Time to import (days) 33 Dealing with construction permits (rank) 71 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,750 Procedures (number) 12 Depth of credit information index (0-6) 6 Time (days) 137 Public registry coverage (% of adults) 16.7 Enforcing contracts (rank) 106 Cost (% of income per capita) 223.6 Private bureau coverage (% of adults) 47.5 Procedures (number) 38 Time (days) 591 Getting electricity (rank) 26 Protecting investors (rank) 70 Cost (% of claim) 30.0 Procedures (number) 4 Extent of disclosure index (0-10) 6 Time (days) 53 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 144 Cost (% of income per capita) 221.7 Ease of shareholder suits index (0-10) 6 Time (years) 3.9 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 9 Recovery rate (cents on the dollar) 15.3 Paying taxes (rank) 141 Payments (number per year) 35 Time (hours per year) 387 Total tax rate (% of profit) 35.0 PERU Latin America & Caribbean GNI per capita (US$) 5,500 Ease of doing business (rank) 43 Upper middle income Population (m) 29.4 Starting a business (rank) 60 Registering property (rank) 19 Trading across borders (rank) 60 Procedures (number) 5 Procedures (number) 4 Documents to export (number) 6 Time (days) 26 Time (days) 7 Time to export (days) 12 Cost (% of income per capita) 10.6 Cost (% of property value) 3.3 Cost to export (US$ per container) 890 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 23 Time to import (days) 17 ✔ Dealing with construction permits (rank) 86 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 880 Procedures (number) 14 Depth of credit information index (0-6) 6 Time (days) 173 Public registry coverage (% of adults) 31.2 Enforcing contracts (rank) 115 Cost (% of income per capita) 62.8 Private bureau coverage (% of adults) 42.5 Procedures (number) 41 Time (days) 428 Getting electricity (rank) 77 ✔ Protecting investors (rank) 13 Cost (% of claim) 35.7 Procedures (number) 5 Extent of disclosure index (0-10) 9 Time (days) 100 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 106 Cost (% of income per capita) 378.2 Ease of shareholder suits index (0-10) 8 Time (years) 3.1 Strength of investor protection index (0-10) 7.7 Cost (% of estate) 7 Recovery rate (cents on the dollar) 28.1 Paying taxes (rank) 85 Payments (number per year) 9 Time (hours per year) 293 Total tax rate (% of profit) 40.5 PHILIPPINES East Asia & Pacific GNI per capita (US$) 2,210 Ease of doing business (rank) 138 Lower middle income Population (m) 94.9 Starting a business (rank) 161 Registering property (rank) 122 Trading across borders (rank) 53 Procedures (number) 16 Procedures (number) 8 Documents to export (number) 7 Time (days) 36 Time (days) 39 Time to export (days) 15 Cost (% of income per capita) 18.1 Cost (% of property value) 4.8 Cost to export (US$ per container) 585 Minimum capital (% of income per capita) 4.8 Documents to import (number) 8 Getting credit (rank) 129 Time to import (days) 14 Dealing with construction permits (rank) 100 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 660 Procedures (number) 29 Depth of credit information index (0-6) 3 Time (days) 84 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 111 Cost (% of income per capita) 103.0 Private bureau coverage (% of adults) 9.0 Procedures (number) 37 Time (days) 842 Getting electricity (rank) 57 Protecting investors (rank) 128 Cost (% of claim) 26.0 Procedures (number) 5 Extent of disclosure index (0-10) 2 Time (days) 50 Extent of director liability index (0-10) 3 Resolving insolvency (rank) 165 Cost (% of income per capita) 833.3 Ease of shareholder suits index (0-10) 8 Time (years) 5.7 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 38 Recovery rate (cents on the dollar) 4.9 Paying taxes (rank) 143 Payments (number per year) 47 Time (hours per year) 193 Total tax rate (% of profit) 46.6 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 189 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business POLAND OECD high income GNI per capita (US$) 12,480 Ease of doing business (rank) 55 High income Population (m) 38.2 Starting a business (rank) 124 ✔ Registering property (rank) 62 Trading across borders (rank) 50 Procedures (number) 6 Procedures (number) 6 Documents to export (number) 5 Time (days) 32 Time (days) 54 Time to export (days) 17 Cost (% of income per capita) 14.4 Cost (% of property value) 0.4 Cost to export (US$ per container) 1,050 Minimum capital (% of income per capita) 13.0 Documents to import (number) 5 Getting credit (rank) 4 Time to import (days) 16 Dealing with construction permits (rank) 161 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,025 Procedures (number) 29 Depth of credit information index (0-6) 6 Time (days) 301 Public registry coverage (% of adults) 0.0 ✔ Enforcing contracts (rank) 56 Cost (% of income per capita) 49.4 Private bureau coverage (% of adults) 76.9 Procedures (number) 33 Time (days) 685 Getting electricity (rank) 137 Protecting investors (rank) 49 Cost (% of claim) 19.0 Procedures (number) 6 Extent of disclosure index (0-10) 7 Time (days) 186 Extent of director liability index (0-10) 2 ✔ Resolving insolvency (rank) 37 Cost (% of income per capita) 208.3 Ease of shareholder suits index (0-10) 9 Time (years) 3.0 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 15 Recovery rate (cents on the dollar) 54.5 ✔ Paying taxes (rank) 114 Payments (number per year) 18 Time (hours per year) 286 Total tax rate (% of profit) 43.8 PORTUGAL OECD high income GNI per capita (US$) 21,250 Ease of doing business (rank) 30 High income Population (m) 10.6 Starting a business (rank) 31 Registering property (rank) 30 ✔ Trading across borders (rank) 17 Procedures (number) 5 Procedures (number) 1 Documents to export (number) 4 Time (days) 5 Time (days) 1 Time to export (days) 13 Cost (% of income per capita) 2.3 Cost (% of property value) 7.3 Cost to export (US$ per container) 685 Minimum capital (% of income per capita) 0.0 Documents to import (number) 5 Getting credit (rank) 104 Time to import (days) 12 ✔ Dealing with construction permits (rank) 78 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 899 Procedures (number) 13 Depth of credit information index (0-6) 5 Time (days) 108 Public registry coverage (% of adults) 90.7 Enforcing contracts (rank) 22 Cost (% of income per capita) 370.0 Private bureau coverage (% of adults) 22.9 Procedures (number) 32 Time (days) 547 Getting electricity (rank) 35 Protecting investors (rank) 49 Cost (% of claim) 13.0 Procedures (number) 5 Extent of disclosure index (0-10) 6 Time (days) 64 Extent of director liability index (0-10) 5 ✔ Resolving insolvency (rank) 23 Cost (% of income per capita) 52.7 Ease of shareholder suits index (0-10) 7 Time (years) 2.0 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 9 Recovery rate (cents on the dollar) 74.6 Paying taxes (rank) 77 Payments (number per year) 8 Time (hours per year) 275 Total tax rate (% of profit) 42.6 PUERTO RICO (U.S.) Latin America & Caribbean GNI per capita (US$) 17,655 Ease of doing business (rank) 41 High income Population (m) 3.7 Starting a business (rank) 12 Registering property (rank) 128 Trading across borders (rank) 96 Procedures (number) 6 Procedures (number) 8 Documents to export (number) 6 Time (days) 6 Time (days) 194 Time to export (days) 15 Cost (% of income per capita) 0.9 Cost (% of property value) 0.9 Cost to export (US$ per container) 1,300 Minimum capital (% of income per capita) 0.0 Documents to import (number) 9 Getting credit (rank) 12 Time to import (days) 15 Dealing with construction permits (rank) 156 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,350 Procedures (number) 18 Depth of credit information index (0-6) 5 Time (days) 189 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 101 Cost (% of income per capita) 361.3 Private bureau coverage (% of adults) 81.5 Procedures (number) 39 Time (days) 620 Getting electricity (rank) 37 Protecting investors (rank) 19 Cost (% of claim) 25.6 Procedures (number) 5 Extent of disclosure index (0-10) 7 Time (days) 32 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 24 Cost (% of income per capita) 384.0 Ease of shareholder suits index (0-10) 8 Time (years) 2.5 Strength of investor protection index (0-10) 7.0 Cost (% of estate) 8 Recovery rate (cents on the dollar) 73.4 ✔ Paying taxes (rank) 104 Payments (number per year) 16 Time (hours per year) 218 Total tax rate (% of profit) 50.7 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 190 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business QATAR Middle East & North Africa GNI per capita (US$) 80,440 Ease of doing business (rank) 40 High income Population (m) 1.9 Starting a business (rank) 109 Registering property (rank) 40 ✔ Trading across borders (rank) 58 Procedures (number) 8 Procedures (number) 7 Documents to export (number) 5 Time (days) 9 Time (days) 13 Time to export (days) 17 Cost (% of income per capita) 4.9 Cost (% of property value) 0.3 Cost to export (US$ per container) 885 Minimum capital (% of income per capita) 60.7 Documents to import (number) 7 Getting credit (rank) 104 Time to import (days) 17 Dealing with construction permits (rank) 18 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 1,033 Procedures (number) 16 Depth of credit information index (0-6) 4 Time (days) 62 Public registry coverage (% of adults) 25.2 Enforcing contracts (rank) 95 Cost (% of income per capita) 1.1 Private bureau coverage (% of adults) 0.0 Procedures (number) 43 Time (days) 570 Getting electricity (rank) 25 Protecting investors (rank) 100 Cost (% of claim) 21.6 Procedures (number) 4 Extent of disclosure index (0-10) 5 Time (days) 90 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 36 Cost (% of income per capita) 3.9 Ease of shareholder suits index (0-10) 4 Time (years) 2.8 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 22 Recovery rate (cents on the dollar) 55.5 Paying taxes (rank) 2 Payments (number per year) 4 Time (hours per year) 48 Total tax rate (% of profit) 11.3 ROMANIA Eastern Europe & Central Asia GNI per capita (US$) 7,910 Ease of doing business (rank) 72 Upper middle income Population (m) 21.4 ✔ Starting a business (rank) 68 Registering property (rank) 72 Trading across borders (rank) 72 Procedures (number) 6 Procedures (number) 8 Documents to export (number) 5 Time (days) 10 Time (days) 26 Time to export (days) 12 Cost (% of income per capita) 2.8 Cost (% of property value) 1.2 Cost to export (US$ per container) 1,485 Minimum capital (% of income per capita) 0.8 Documents to import (number) 6 ✔ Getting credit (rank) 12 Time to import (days) 13 Dealing with construction permits (rank) 129 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,495 Procedures (number) 15 Depth of credit information index (0-6) 5 Time (days) 287 Public registry coverage (% of adults) 14.0 Enforcing contracts (rank) 60 Cost (% of income per capita) 79.1 Private bureau coverage (% of adults) 44.9 Procedures (number) 32 Time (days) 512 Getting electricity (rank) 168 Protecting investors (rank) 49 Cost (% of claim) 28.9 Procedures (number) 7 Extent of disclosure index (0-10) 9 Time (days) 223 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 102 Cost (% of income per capita) 584.2 Ease of shareholder suits index (0-10) 4 Time (years) 3.3 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 11 Recovery rate (cents on the dollar) 29.2 Paying taxes (rank) 136 Payments (number per year) 41 Time (hours per year) 216 Total tax rate (% of profit) 44.2 RUSSIAN FEDERATION Eastern Europe & Central Asia GNI per capita (US$) 10,400 Ease of doing business (rank) 112 Upper middle income Population (m) 141.9 Starting a business (rank) 101 Registering property (rank) 46 Trading across borders (rank) 162 Procedures (number) 8 Procedures (number) 5 Documents to export (number) 8 Time (days) 18 Time (days) 44 Time to export (days) 21 Cost (% of income per capita) 2.0 Cost (% of property value) 0.2 Cost to export (US$ per container) 2,820 Minimum capital (% of income per capita) 1.4 Documents to import (number) 11 Getting credit (rank) 104 Time to import (days) 36 ✔ Dealing with construction permits (rank) 178 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 2,920 Procedures (number) 42 Depth of credit information index (0-6) 5 Time (days) 344 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 11 Cost (% of income per capita) 129.2 Private bureau coverage (% of adults) 45.4 Procedures (number) 36 Time (days) 270 Getting electricity (rank) 184 Protecting investors (rank) 117 Cost (% of claim) 13.4 Procedures (number) 10 Extent of disclosure index (0-10) 6 Time (days) 281 Extent of director liability index (0-10) 2 Resolving insolvency (rank) 53 Cost (% of income per capita) 1,573.7 Ease of shareholder suits index (0-10) 6 Time (years) 2.0 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 9 Recovery rate (cents on the dollar) 43.4 ✔ Paying taxes (rank) 64 Payments (number per year) 7 Time (hours per year) 177 Total tax rate (% of profit) 54.1 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 191 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business RWANDA Sub-Saharan Africa GNI per capita (US$) 570 Ease of doing business (rank) 52 Low income Population (m) 10.9 Starting a business (rank) 8 Registering property (rank) 63 Trading across borders (rank) 158 Procedures (number) 2 Procedures (number) 5 Documents to export (number) 8 Time (days) 3 Time (days) 25 Time to export (days) 29 Cost (% of income per capita) 4.3 Cost (% of property value) 5.6 Cost to export (US$ per container) 3,245 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 23 Time to import (days) 31 Dealing with construction permits (rank) 98 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 4,990 Procedures (number) 12 Depth of credit information index (0-6) 6 Time (days) 164 Public registry coverage (% of adults) 0.0 ✔ Enforcing contracts (rank) 39 Cost (% of income per capita) 278.4 Private bureau coverage (% of adults) 7.1 Procedures (number) 23 Time (days) 230 ✔ Getting electricity (rank) 49 Protecting investors (rank) 32 Cost (% of claim) 78.7 Procedures (number) 4 Extent of disclosure index (0-10) 7 Time (days) 30 Extent of director liability index (0-10) 9 Resolving insolvency (rank) 167 Cost (% of income per capita) 3,948.1 Ease of shareholder suits index (0-10) 3 Time (years) 3.0 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 50 Recovery rate (cents on the dollar) 3.1 Paying taxes (rank) 25 Payments (number per year) 17 Time (hours per year) 134 Total tax rate (% of profit) 31.3 SAMOA East Asia & Pacific GNI per capita (US$) 3,190 Ease of doing business (rank) 57 Lower middle income Population (m) 0.2 Starting a business (rank) 20 Registering property (rank) 23 Trading across borders (rank) 66 Procedures (number) 4 Procedures (number) 5 Documents to export (number) 5 Time (days) 9 Time (days) 15 Time to export (days) 25 Cost (% of income per capita) 9.5 Cost (% of property value) 1.6 Cost to export (US$ per container) 690 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 Getting credit (rank) 129 Time to import (days) 28 Dealing with construction permits (rank) 70 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 775 Procedures (number) 21 Depth of credit information index (0-6) 0 Time (days) 87 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 81 Cost (% of income per capita) 57.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 44 Time (days) 455 Getting electricity (rank) 33 Protecting investors (rank) 32 Cost (% of claim) 19.7 Procedures (number) 4 Extent of disclosure index (0-10) 5 Time (days) 34 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 146 Cost (% of income per capita) 790.8 Ease of shareholder suits index (0-10) 8 Time (years) 2.5 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 38 Recovery rate (cents on the dollar) 15.2 Paying taxes (rank) 79 Payments (number per year) 37 Time (hours per year) 224 Total tax rate (% of profit) 18.9 SÃO TOMÉ AND PRÍNCIPE Sub-Saharan Africa GNI per capita (US$) 1,360 Ease of doing business (rank) 160 Lower middle income Population (m) 0.2 Starting a business (rank) 100 Registering property (rank) 161 Trading across borders (rank) 89 Procedures (number) 4 Procedures (number) 7 Documents to export (number) 8 Time (days) 7 Time (days) 62 Time to export (days) 26 Cost (% of income per capita) 19.1 Cost (% of property value) 9.0 Cost to export (US$ per container) 690 Minimum capital (% of income per capita) 285.8 Documents to import (number) 7 Getting credit (rank) 180 Time to import (days) 28 ✘ Dealing with construction permits (rank) 91 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 577 Procedures (number) 13 Depth of credit information index (0-6) 0 Time (days) 118 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 181 Cost (% of income per capita) 386.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 43 Time (days) 1,185 Getting electricity (rank) 72 Protecting investors (rank) 158 Cost (% of claim) 50.5 Procedures (number) 4 Extent of disclosure index (0-10) 3 Time (days) 89 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 164 Cost (% of income per capita) 1,066.6 Ease of shareholder suits index (0-10) 6 Time (years) 6.2 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 22 Recovery rate (cents on the dollar) 5.2 Paying taxes (rank) 144 Payments (number per year) 42 Time (hours per year) 424 Total tax rate (% of profit) 32.5 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 192 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business SAUDI ARABIA Middle East & North Africa GNI per capita (US$) 17,820 Ease of doing business (rank) 22 High income Population (m) 28.1 Starting a business (rank) 78 Registering property (rank) 12 Trading across borders (rank) 36 Procedures (number) 9 Procedures (number) 5 Documents to export (number) 5 Time (days) 21 Time (days) 8 Time to export (days) 13 Cost (% of income per capita) 5.0 Cost (% of property value) 0.0 Cost to export (US$ per container) 935 Minimum capital (% of income per capita) 0.0 Documents to import (number) 5 Getting credit (rank) 53 Time to import (days) 17 Dealing with construction permits (rank) 32 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 1,054 Procedures (number) 14 Depth of credit information index (0-6) 6 Time (days) 103 Public registry coverage (% of adults) 0.0 ✔ Enforcing contracts (rank) 124 Cost (% of income per capita) 24.7 Private bureau coverage (% of adults) 33.3 Procedures (number) 40 Time (days) 635 ✘ Getting electricity (rank) 12 Protecting investors (rank) 19 Cost (% of claim) 27.5 Procedures (number) 4 Extent of disclosure index (0-10) 9 Time (days) 61 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 107 Cost (% of income per capita) 31.5 Ease of shareholder suits index (0-10) 4 Time (years) 2.8 Strength of investor protection index (0-10) 7.0 Cost (% of estate) 22 Recovery rate (cents on the dollar) 28.0 ✔ Paying taxes (rank) 3 Payments (number per year) 3 Time (hours per year) 72 Total tax rate (% of profit) 14.5 SENEGAL Sub-Saharan Africa GNI per capita (US$) 1,070 Ease of doing business (rank) 166 Lower middle income Population (m) 12.8 Starting a business (rank) 102 Registering property (rank) 173 Trading across borders (rank) 67 Procedures (number) 3 Procedures (number) 6 Documents to export (number) 6 Time (days) 5 Time (days) 122 Time to export (days) 11 Cost (% of income per capita) 64.4 Cost (% of property value) 20.2 Cost to export (US$ per container) 1,098 Minimum capital (% of income per capita) 192.3 Documents to import (number) 5 Getting credit (rank) 129 Time to import (days) 14 Dealing with construction permits (rank) 133 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,740 Procedures (number) 13 Depth of credit information index (0-6) 1 Time (days) 210 Public registry coverage (% of adults) 4.6 Enforcing contracts (rank) 148 Cost (% of income per capita) 529.1 Private bureau coverage (% of adults) 0.0 Procedures (number) 43 Time (days) 780 Getting electricity (rank) 180 Protecting investors (rank) 169 Cost (% of claim) 26.5 Procedures (number) 8 Extent of disclosure index (0-10) 6 Time (days) 125 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 90 Cost (% of income per capita) 5,624.9 Ease of shareholder suits index (0-10) 2 Time (years) 3.0 Strength of investor protection index (0-10) 3.0 Cost (% of estate) 7 Recovery rate (cents on the dollar) 32.0 Paying taxes (rank) 178 Payments (number per year) 59 Time (hours per year) 666 Total tax rate (% of profit) 46.0 SERBIA Eastern Europe & Central Asia GNI per capita (US$) 5,680 Ease of doing business (rank) 86 Upper middle income Population (m) 7.3 ✔ Starting a business (rank) 42 Registering property (rank) 41 Trading across borders (rank) 94 Procedures (number) 6 Procedures (number) 6 Documents to export (number) 7 Time (days) 12 Time (days) 11 Time to export (days) 12 Cost (% of income per capita) 7.7 Cost (% of property value) 2.8 Cost to export (US$ per container) 1,455 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 Getting credit (rank) 40 Time to import (days) 14 Dealing with construction permits (rank) 179 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,660 Procedures (number) 18 Depth of credit information index (0-6) 5 Time (days) 269 Public registry coverage (% of adults) 0.0 ✔ Enforcing contracts (rank) 103 Cost (% of income per capita) 1,427.2 Private bureau coverage (% of adults) 100.0 Procedures (number) 36 Time (days) 635 Getting electricity (rank) 76 Protecting investors (rank) 82 Cost (% of claim) 31.3 Procedures (number) 4 Extent of disclosure index (0-10) 7 Time (days) 131 Extent of director liability index (0-10) 6 ✔ Resolving insolvency (rank) 103 Cost (% of income per capita) 502.6 Ease of shareholder suits index (0-10) 3 Time (years) 2.0 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 20 Recovery rate (cents on the dollar) 29.1 Paying taxes (rank) 149 Payments (number per year) 66 Time (hours per year) 279 Total tax rate (% of profit) 34.0 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 193 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business SEYCHELLES Sub-Saharan Africa GNI per capita (US$) 11,130 Ease of doing business (rank) 74 Upper middle income Population (m) 0.1 Starting a business (rank) 117 Registering property (rank) 66 Trading across borders (rank) 33 Procedures (number) 10 Procedures (number) 4 Documents to export (number) 5 Time (days) 39 Time (days) 33 Time to export (days) 16 Cost (% of income per capita) 14.3 Cost (% of property value) 7.0 Cost to export (US$ per container) 876 Minimum capital (% of income per capita) 0.0 Documents to import (number) 5 Getting credit (rank) 167 Time to import (days) 17 Dealing with construction permits (rank) 57 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 876 Procedures (number) 17 Depth of credit information index (0-6) 0 Time (days) 126 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 83 Cost (% of income per capita) 25.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 37 Time (days) 915 Getting electricity (rank) 144 Protecting investors (rank) 70 Cost (% of claim) 15.4 Procedures (number) 6 Extent of disclosure index (0-10) 4 Time (days) 147 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 65 Cost (% of income per capita) 429.8 Ease of shareholder suits index (0-10) 5 Time (years) 2.0 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 11 Recovery rate (cents on the dollar) 39.6 Paying taxes (rank) 20 Payments (number per year) 27 Time (hours per year) 76 Total tax rate (% of profit) 25.7 SIERRA LEONE Sub-Saharan Africa GNI per capita (US$) 340 Ease of doing business (rank) 140 Low income Population (m) 6.0 Starting a business (rank) 76 ✔ Registering property (rank) 167 Trading across borders (rank) 131 Procedures (number) 6 Procedures (number) 7 Documents to export (number) 7 Time (days) 12 Time (days) 67 Time to export (days) 24 Cost (% of income per capita) 80.4 Cost (% of property value) 11.6 Cost to export (US$ per container) 1,385 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 ✔ Getting credit (rank) 83 Time to import (days) 27 Dealing with construction permits (rank) 173 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,780 Procedures (number) 20 Depth of credit information index (0-6) 2 Time (days) 238 Public registry coverage (% of adults) 0.7 Enforcing contracts (rank) 147 Cost (% of income per capita) 265.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 39 Time (days) 515 Getting electricity (rank) 176 Protecting investors (rank) 32 Cost (% of claim) 149.5 Procedures (number) 8 Extent of disclosure index (0-10) 6 Time (days) 137 Extent of director liability index (0-10) 7 Resolving insolvency (rank) 154 Cost (% of income per capita) 2,124.4 Ease of shareholder suits index (0-10) 6 Time (years) 2.6 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 42 Recovery rate (cents on the dollar) 9.2 Paying taxes (rank) 117 Payments (number per year) 33 Time (hours per year) 357 Total tax rate (% of profit) 32.1 SINGAPORE East Asia & Pacific GNI per capita (US$) 42,930 Ease of doing business (rank) 1 High income Population (m) 5.2 Starting a business (rank) 4 Registering property (rank) 36 Trading across borders (rank) 1 Procedures (number) 3 Procedures (number) 5 Documents to export (number) 4 Time (days) 3 Time (days) 21 Time to export (days) 5 Cost (% of income per capita) 0.6 Cost (% of property value) 2.9 Cost to export (US$ per container) 456 Minimum capital (% of income per capita) 0.0 Documents to import (number) 4 Getting credit (rank) 12 Time to import (days) 4 Dealing with construction permits (rank) 2 Strength of legal rights index (0-10) 10 Cost to import (US$ per container) 439 Procedures (number) 11 Depth of credit information index (0-6) 4 Time (days) 26 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 12 Cost (% of income per capita) 16.7 Private bureau coverage (% of adults) 58.3 Procedures (number) 21 Time (days) 150 Getting electricity (rank) 5 Protecting investors (rank) 2 Cost (% of claim) 25.8 Procedures (number) 4 Extent of disclosure index (0-10) 10 Time (days) 36 Extent of director liability index (0-10) 9 Resolving insolvency (rank) 2 Cost (% of income per capita) 28.6 Ease of shareholder suits index (0-10) 9 Time (years) 0.8 Strength of investor protection index (0-10) 9.3 Cost (% of estate) 1 Recovery rate (cents on the dollar) 91.3 Paying taxes (rank) 5 Payments (number per year) 5 Time (hours per year) 82 Total tax rate (% of profit) 27.6 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 194 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business SLOVAK REPUBLIC OECD high income GNI per capita (US$) 16,070 Ease of doing business (rank) 46 High income Population (m) 5.4 ✔ Starting a business (rank) 83 Registering property (rank) 8 Trading across borders (rank) 98 Procedures (number) 6 Procedures (number) 3 Documents to export (number) 6 Time (days) 16 Time (days) 17 Time to export (days) 17 Cost (% of income per capita) 1.8 Cost (% of property value) 0.0 Cost to export (US$ per container) 1,560 Minimum capital (% of income per capita) 21.3 Documents to import (number) 7 Getting credit (rank) 23 Time to import (days) 17 Dealing with construction permits (rank) 46 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,540 Procedures (number) 11 Depth of credit information index (0-6) 4 Time (days) 286 Public registry coverage (% of adults) 2.7 ✔ Enforcing contracts (rank) 69 Cost (% of income per capita) 7.3 Private bureau coverage (% of adults) 58.5 Procedures (number) 32 Time (days) 545 Getting electricity (rank) 100 Protecting investors (rank) 117 Cost (% of claim) 30.0 Procedures (number) 5 Extent of disclosure index (0-10) 3 Time (days) 158 Extent of director liability index (0-10) 4 ✔ Resolving insolvency (rank) 38 Cost (% of income per capita) 249.1 Ease of shareholder suits index (0-10) 7 Time (years) 4.0 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 18 Recovery rate (cents on the dollar) 53.6 ✔ Paying taxes (rank) 100 Payments (number per year) 20 Time (hours per year) 207 Total tax rate (% of profit) 47.9 SLOVENIA OECD high income GNI per capita (US$) 23,610 Ease of doing business (rank) 35 High income Population (m) 2.1 Starting a business (rank) 30 Registering property (rank) 83 Trading across borders (rank) 57 Procedures (number) 2 Procedures (number) 5 Documents to export (number) 6 Time (days) 6 Time (days) 110 Time to export (days) 16 Cost (% of income per capita) 0.0 Cost (% of property value) 2.0 Cost to export (US$ per container) 745 Minimum capital (% of income per capita) 43.9 Documents to import (number) 8 Getting credit (rank) 104 Time to import (days) 14 Dealing with construction permits (rank) 61 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 830 Procedures (number) 11 Depth of credit information index (0-6) 4 Time (days) 197 Public registry coverage (% of adults) 3.4 Enforcing contracts (rank) 56 Cost (% of income per capita) 65.3 Private bureau coverage (% of adults) 98.9 Procedures (number) 32 Time (days) 1,290 Getting electricity (rank) 31 ✔ Protecting investors (rank) 17 Cost (% of claim) 12.7 Procedures (number) 5 Extent of disclosure index (0-10) 5 Time (days) 38 Extent of director liability index (0-10) 9 ✔ Resolving insolvency (rank) 42 Cost (% of income per capita) 119.9 Ease of shareholder suits index (0-10) 8 Time (years) 2.0 Strength of investor protection index (0-10) 7.3 Cost (% of estate) 4 Recovery rate (cents on the dollar) 49.8 ✔ Paying taxes (rank) 63 Payments (number per year) 11 Time (hours per year) 260 Total tax rate (% of profit) 34.7 SOLOMON ISLANDS East Asia & Pacific GNI per capita (US$) 1,110 Ease of doing business (rank) 92 Lower middle income Population (m) 0.6 Starting a business (rank) 75 Registering property (rank) 168 Trading across borders (rank) 86 Procedures (number) 7 Procedures (number) 10 Documents to export (number) 7 Time (days) 9 Time (days) 87 Time to export (days) 24 Cost (% of income per capita) 47.9 Cost (% of property value) 4.8 Cost to export (US$ per container) 1,070 Minimum capital (% of income per capita) 0.0 Documents to import (number) 5 Getting credit (rank) 83 Time to import (days) 20 Dealing with construction permits (rank) 77 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,037 Procedures (number) 15 Depth of credit information index (0-6) 0 Time (days) 92 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 109 Cost (% of income per capita) 248.5 Private bureau coverage (% of adults) 0.0 Procedures (number) 37 Time (days) 455 Getting electricity (rank) 125 Protecting investors (rank) 49 Cost (% of claim) 78.9 Procedures (number) 4 Extent of disclosure index (0-10) 3 Time (days) 160 Extent of director liability index (0-10) 7 Resolving insolvency (rank) 123 Cost (% of income per capita) 2,044.4 Ease of shareholder suits index (0-10) 8 Time (years) 1.0 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 38 Recovery rate (cents on the dollar) 23.9 Paying taxes (rank) 26 Payments (number per year) 33 Time (hours per year) 80 Total tax rate (% of profit) 25.3 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 195 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business SOUTH AFRICA Sub-Saharan Africa GNI per capita (US$) 6,960 Ease of doing business (rank) 39 Upper middle income Population (m) 50.6 Starting a business (rank) 53 Registering property (rank) 79 ✔ Trading across borders (rank) 115 Procedures (number) 5 Procedures (number) 6 Documents to export (number) 6 Time (days) 19 Time (days) 23 Time to export (days) 16 Cost (% of income per capita) 0.3 Cost (% of property value) 5.9 Cost to export (US$ per container) 1,620 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 Getting credit (rank) 1 Time to import (days) 23 Dealing with construction permits (rank) 39 Strength of legal rights index (0-10) 10 Cost to import (US$ per container) 1,940 Procedures (number) 13 Depth of credit information index (0-6) 6 Time (days) 127 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 82 Cost (% of income per capita) 33.4 Private bureau coverage (% of adults) 54.0 Procedures (number) 29 Time (days) 600 Getting electricity (rank) 150 Protecting investors (rank) 10 Cost (% of claim) 33.2 Procedures (number) 5 Extent of disclosure index (0-10) 8 Time (days) 226 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 84 Cost (% of income per capita) 1,505.8 Ease of shareholder suits index (0-10) 8 Time (years) 2.0 Strength of investor protection index (0-10) 8.0 Cost (% of estate) 18 Recovery rate (cents on the dollar) 35.4 Paying taxes (rank) 32 Payments (number per year) 9 Time (hours per year) 200 Total tax rate (% of profit) 33.3 SPAIN OECD high income GNI per capita (US$) 30,990 Ease of doing business (rank) 44 High income Population (m) 46.2 Starting a business (rank) 136 Registering property (rank) 57 ✔ Trading across borders (rank) 39 Procedures (number) 10 Procedures (number) 5 Documents to export (number) 5 Time (days) 28 Time (days) 13 Time to export (days) 9 Cost (% of income per capita) 4.7 Cost (% of property value) 7.1 Cost to export (US$ per container) 1,260 Minimum capital (% of income per capita) 13.2 Documents to import (number) 6 Getting credit (rank) 53 Time to import (days) 9 Dealing with construction permits (rank) 38 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,350 Procedures (number) 8 Depth of credit information index (0-6) 5 Time (days) 182 Public registry coverage (% of adults) 53.3 Enforcing contracts (rank) 64 Cost (% of income per capita) 51.8 Private bureau coverage (% of adults) 13.2 Procedures (number) 40 Time (days) 510 Getting electricity (rank) 70 Protecting investors (rank) 100 Cost (% of claim) 17.2 Procedures (number) 5 Extent of disclosure index (0-10) 5 Time (days) 101 Extent of director liability index (0-10) 6 ✔ Resolving insolvency (rank) 20 Cost (% of income per capita) 232.0 Ease of shareholder suits index (0-10) 4 Time (years) 1.5 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 11 Recovery rate (cents on the dollar) 76.5 Paying taxes (rank) 34 Payments (number per year) 8 Time (hours per year) 167 Total tax rate (% of profit) 38.7 SRI LANKA South Asia GNI per capita (US$) 2,580 Ease of doing business (rank) 81 Lower middle income Population (m) 20.9 ✔ Starting a business (rank) 33 ✔ Registering property (rank) 143 ✔ Trading across borders (rank) 56 Procedures (number) 5 Procedures (number) 8 Documents to export (number) 6 Time (days) 7 Time (days) 60 Time to export (days) 20 Cost (% of income per capita) 19.1 Cost (% of property value) 5.1 Cost to export (US$ per container) 720 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 ✔ Getting credit (rank) 70 Time to import (days) 19 Dealing with construction permits (rank) 112 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 775 Procedures (number) 17 Depth of credit information index (0-6) 5 Time (days) 216 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 133 Cost (% of income per capita) 35.4 Private bureau coverage (% of adults) 33.6 Procedures (number) 40 Time (days) 1,318 Getting electricity (rank) 103 Protecting investors (rank) 49 Cost (% of claim) 22.8 Procedures (number) 4 Extent of disclosure index (0-10) 6 Time (days) 132 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 51 Cost (% of income per capita) 1,257.5 Ease of shareholder suits index (0-10) 7 Time (years) 1.7 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 10 Recovery rate (cents on the dollar) 43.9 Paying taxes (rank) 169 Payments (number per year) 61 Time (hours per year) 254 Total tax rate (% of profit) 50.1 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 196 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business ST. KITTS AND NEVIS Latin America & Caribbean GNI per capita (US$) 12,480 Ease of doing business (rank) 96 High income Population (m) 0.1 Starting a business (rank) 69 Registering property (rank) 166 ✘ Trading across borders (rank) 64 Procedures (number) 7 Procedures (number) 6 Documents to export (number) 5 Time (days) 19 Time (days) 81 Time to export (days) 13 Cost (% of income per capita) 9.1 Cost (% of property value) 13.3 Cost to export (US$ per container) 805 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 Getting credit (rank) 129 Time to import (days) 12 Dealing with construction permits (rank) 15 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 2,635 Procedures (number) 11 Depth of credit information index (0-6) 0 Time (days) 139 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 119 Cost (% of income per capita) 5.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 47 Time (days) 578 Getting electricity (rank) 17 Protecting investors (rank) 32 Cost (% of claim) 20.5 Procedures (number) 4 Extent of disclosure index (0-10) 4 Time (days) 18 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 185 Cost (% of income per capita) 304.3 Ease of shareholder suits index (0-10) 7 Time (years) NO PRACTICE Strength of investor protection index (0-10) 6.3 Cost (% of estate) NO PRACTICE Recovery rate (cents on the dollar) 0.0 Paying taxes (rank) 135 Payments (number per year) 36 Time (hours per year) 203 Total tax rate (% of profit) 52.1 ST. LUCIA Latin America & Caribbean GNI per capita (US$) 6,680 Ease of doing business (rank) 53 Upper middle income Population (m) 0.2 Starting a business (rank) 51 Registering property (rank) 117 Trading across borders (rank) 109 Procedures (number) 5 Procedures (number) 8 Documents to export (number) 5 Time (days) 15 Time (days) 17 Time to export (days) 14 Cost (% of income per capita) 17.8 Cost (% of property value) 7.6 Cost to export (US$ per container) 1,375 Minimum capital (% of income per capita) 0.0 Documents to import (number) 9 Getting credit (rank) 104 Time to import (days) 17 Dealing with construction permits (rank) 11 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 2,675 Procedures (number) 7 Depth of credit information index (0-6) 0 Time (days) 125 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 168 Cost (% of income per capita) 23.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 47 Time (days) 635 Getting electricity (rank) 12 Protecting investors (rank) 32 Cost (% of claim) 37.3 Procedures (number) 4 Extent of disclosure index (0-10) 4 Time (days) 25 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 61 Cost (% of income per capita) 202.8 Ease of shareholder suits index (0-10) 7 Time (years) 2.0 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 9 Recovery rate (cents on the dollar) 42.0 Paying taxes (rank) 43 Payments (number per year) 32 Time (hours per year) 92 Total tax rate (% of profit) 34.6 ST. VINCENT AND THE GRENADINES Latin America & Caribbean GNI per capita (US$) 6,100 Ease of doing business (rank) 75 Upper middle income Population (m) 0.1 Starting a business (rank) 64 Registering property (rank) 145 Trading across borders (rank) 43 Procedures (number) 7 Procedures (number) 7 Documents to export (number) 5 Time (days) 10 Time (days) 38 Time to export (days) 12 Cost (% of income per capita) 17.9 Cost (% of property value) 11.9 Cost to export (US$ per container) 935 Minimum capital (% of income per capita) 0.0 Documents to import (number) 5 Getting credit (rank) 129 Time to import (days) 13 Dealing with construction permits (rank) 5 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,575 Procedures (number) 8 Depth of credit information index (0-6) 0 Time (days) 112 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 99 Cost (% of income per capita) 9.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 45 Time (days) 394 Getting electricity (rank) 22 Protecting investors (rank) 32 Cost (% of claim) 30.3 Procedures (number) 3 Extent of disclosure index (0-10) 4 Time (days) 52 Extent of director liability index (0-10) 8 Resolving insolvency (rank) 185 Cost (% of income per capita) 246.7 Ease of shareholder suits index (0-10) 7 Time (years) NO PRACTICE Strength of investor protection index (0-10) 6.3 Cost (% of estate) NO PRACTICE Recovery rate (cents on the dollar) 0.0 Paying taxes (rank) 72 Payments (number per year) 36 Time (hours per year) 111 Total tax rate (% of profit) 38.7 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 197 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business SUDAN Sub-Saharan Africa GNI per capita (US$) 1,982 Ease of doing business (rank) 143 Lower middle income Population (m) 34.3 Starting a business (rank) 122 Registering property (rank) 37 Trading across borders (rank) 153 Procedures (number) 10 Procedures (number) 6 Documents to export (number) 7 Time (days) 36 Time (days) 9 Time to export (days) 32 Cost (% of income per capita) 20.0 Cost (% of property value) 2.8 Cost to export (US$ per container) 2,050 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 Getting credit (rank) 167 Time to import (days) 46 Dealing with construction permits (rank) 156 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 2,900 Procedures (number) 16 Depth of credit information index (0-6) 0 Time (days) 270 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 151 Cost (% of income per capita) 240.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 53 Time (days) 810 Getting electricity (rank) 108 Protecting investors (rank) 158 Cost (% of claim) 19.8 Procedures (number) 5 Extent of disclosure index (0-10) 0 Time (days) 70 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 88 Cost (% of income per capita) 2,527.3 Ease of shareholder suits index (0-10) 4 Time (years) 2.0 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 20 Recovery rate (cents on the dollar) 33.2 Paying taxes (rank) 101 Payments (number per year) 42 Time (hours per year) 180 Total tax rate (% of profit) 36.1 SURINAME Latin America & Caribbean GNI per capita (US$) 7,096 Ease of doing business (rank) 164 Upper middle income Population (m) 0.5 Starting a business (rank) 178 Registering property (rank) 171 ✘ Trading across borders (rank) 97 Procedures (number) 13 Procedures (number) 6 Documents to export (number) 8 Time (days) 694 Time (days) 197 Time to export (days) 23 Cost (% of income per capita) 110.9 Cost (% of property value) 13.7 Cost to export (US$ per container) 1,000 Minimum capital (% of income per capita) 0.4 Documents to import (number) 6 Getting credit (rank) 159 Time to import (days) 21 Dealing with construction permits (rank) 92 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 1,165 Procedures (number) 11 Depth of credit information index (0-6) 0 Time (days) 461 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 180 Cost (% of income per capita) 60.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 44 Time (days) 1,715 Getting electricity (rank) 39 Protecting investors (rank) 183 Cost (% of claim) 37.1 Procedures (number) 4 Extent of disclosure index (0-10) 1 Time (days) 58 Extent of director liability index (0-10) 0 Resolving insolvency (rank) 158 Cost (% of income per capita) 634.4 Ease of shareholder suits index (0-10) 5 Time (years) 5.0 Strength of investor protection index (0-10) 2.0 Cost (% of estate) 30 Recovery rate (cents on the dollar) 8.6 Paying taxes (rank) 49 Payments (number per year) 29 Time (hours per year) 199 Total tax rate (% of profit) 27.9 SWAZILAND Sub-Saharan Africa GNI per capita (US$) 3,300 Ease of doing business (rank) 123 Lower middle income Population (m) 1.1 Starting a business (rank) 165 Registering property (rank) 129 Trading across borders (rank) 141 Procedures (number) 12 Procedures (number) 9 Documents to export (number) 8 Time (days) 56 Time (days) 21 Time to export (days) 18 Cost (% of income per capita) 24.1 Cost (% of property value) 7.1 Cost to export (US$ per container) 1,880 Minimum capital (% of income per capita) 0.4 Documents to import (number) 8 Getting credit (rank) 53 Time to import (days) 27 Dealing with construction permits (rank) 41 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 2,085 Procedures (number) 13 Depth of credit information index (0-6) 5 Time (days) 95 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 174 Cost (% of income per capita) 94.9 Private bureau coverage (% of adults) 47.8 Procedures (number) 40 Time (days) 956 Getting electricity (rank) 156 Protecting investors (rank) 128 Cost (% of claim) 56.1 Procedures (number) 6 Extent of disclosure index (0-10) 2 Time (days) 137 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 74 Cost (% of income per capita) 1,071.8 Ease of shareholder suits index (0-10) 6 Time (years) 2.0 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 15 Recovery rate (cents on the dollar) 38.3 ✔ Paying taxes (rank) 58 Payments (number per year) 33 Time (hours per year) 104 Total tax rate (% of profit) 36.8 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 198 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business SWEDEN OECD high income GNI per capita (US$) 53,230 Ease of doing business (rank) 13 High income Population (m) 9.5 Starting a business (rank) 54 ✘ Registering property (rank) 35 Trading across borders (rank) 8 Procedures (number) 3 Procedures (number) 1 Documents to export (number) 3 Time (days) 16 Time (days) 30 Time to export (days) 8 Cost (% of income per capita) 0.5 Cost (% of property value) 4.3 Cost to export (US$ per container) 705 Minimum capital (% of income per capita) 13.2 Documents to import (number) 3 Getting credit (rank) 40 Time to import (days) 6 Dealing with construction permits (rank) 25 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 735 Procedures (number) 7 Depth of credit information index (0-6) 4 Time (days) 116 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 27 Cost (% of income per capita) 77.3 Private bureau coverage (% of adults) 100.0 Procedures (number) 30 Time (days) 314 Getting electricity (rank) 9 Protecting investors (rank) 32 Cost (% of claim) 31.2 Procedures (number) 3 Extent of disclosure index (0-10) 8 Time (days) 52 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 22 Cost (% of income per capita) 37.1 Ease of shareholder suits index (0-10) 7 Time (years) 2.0 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 9 Recovery rate (cents on the dollar) 74.7 Paying taxes (rank) 38 Payments (number per year) 4 Time (hours per year) 122 Total tax rate (% of profit) 53.0 SWITZERLAND OECD high income GNI per capita (US$) 76,380 Ease of doing business (rank) 28 High income Population (m) 7.9 Starting a business (rank) 97 Registering property (rank) 15 Trading across borders (rank) 35 Procedures (number) 6 Procedures (number) 4 Documents to export (number) 4 Time (days) 18 Time (days) 16 Time to export (days) 8 Cost (% of income per capita) 2.1 Cost (% of property value) 0.4 Cost to export (US$ per container) 1,435 Minimum capital (% of income per capita) 26.3 Documents to import (number) 5 Getting credit (rank) 23 Time to import (days) 9 Dealing with construction permits (rank) 50 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,440 Procedures (number) 13 Depth of credit information index (0-6) 5 Time (days) 154 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 20 Cost (% of income per capita) 39.1 Private bureau coverage (% of adults) 26.8 Procedures (number) 32 Time (days) 390 Getting electricity (rank) 8 Protecting investors (rank) 169 Cost (% of claim) 24.0 Procedures (number) 3 Extent of disclosure index (0-10) 0 Time (days) 39 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 45 Cost (% of income per capita) 61.1 Ease of shareholder suits index (0-10) 4 Time (years) 3.0 Strength of investor protection index (0-10) 3.0 Cost (% of estate) 4 Recovery rate (cents on the dollar) 47.5 Paying taxes (rank) 18 Payments (number per year) 19 Time (hours per year) 63 Total tax rate (% of profit) 30.2 SYRIAN ARAB REPUBLIC Middle East & North Africa GNI per capita (US$) 2,803 Ease of doing business (rank) 144 Lower middle income Population (m) 20.8 Starting a business (rank) 132 Registering property (rank) 84 Trading across borders (rank) 125 Procedures (number) 7 Procedures (number) 4 Documents to export (number) 8 Time (days) 13 Time (days) 19 Time to export (days) 15 Cost (% of income per capita) 15.6 Cost (% of property value) 27.8 Cost to export (US$ per container) 1,190 Minimum capital (% of income per capita) 122.6 Documents to import (number) 9 ✔ Getting credit (rank) 176 Time to import (days) 21 Dealing with construction permits (rank) 134 Strength of legal rights index (0-10) 1 Cost to import (US$ per container) 1,625 Procedures (number) 23 Depth of credit information index (0-6) 2 Time (days) 104 Public registry coverage (% of adults) 4.9 Enforcing contracts (rank) 176 Cost (% of income per capita) 483.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 55 Time (days) 872 Getting electricity (rank) 84 Protecting investors (rank) 117 Cost (% of claim) 29.3 Procedures (number) 5 Extent of disclosure index (0-10) 7 Time (days) 71 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 111 Cost (% of income per capita) 902.9 Ease of shareholder suits index (0-10) 2 Time (years) 4.1 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 9 Recovery rate (cents on the dollar) 27.5 Paying taxes (rank) 111 Payments (number per year) 19 Time (hours per year) 336 Total tax rate (% of profit) 39.7 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 199 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business TAIWAN, CHINA East Asia & Pacific GNI per capita (US$) 20,200 Ease of doing business (rank) 16 High income Population (m) 23.2 Starting a business (rank) 16 Registering property (rank) 32 Trading across borders (rank) 23 Procedures (number) 3 Procedures (number) 3 Documents to export (number) 6 Time (days) 10 Time (days) 5 Time to export (days) 10 Cost (% of income per capita) 2.4 Cost (% of property value) 6.2 Cost to export (US$ per container) 655 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 Getting credit (rank) 70 Time to import (days) 10 ✔ Dealing with construction permits (rank) 9 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 720 Procedures (number) 11 Depth of credit information index (0-6) 5 Time (days) 94 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 90 Cost (% of income per capita) 16.3 Private bureau coverage (% of adults) 94.1 Procedures (number) 45 Time (days) 510 Getting electricity (rank) 6 ✔ Protecting investors (rank) 32 Cost (% of claim) 17.7 Procedures (number) 4 Extent of disclosure index (0-10) 9 Time (days) 24 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 15 Cost (% of income per capita) 50.4 Ease of shareholder suits index (0-10) 5 Time (years) 1.9 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 4 Recovery rate (cents on the dollar) 81.8 Paying taxes (rank) 54 Payments (number per year) 12 Time (hours per year) 221 Total tax rate (% of profit) 34.8 TAJIKISTAN Eastern Europe & Central Asia GNI per capita (US$) 870 Ease of doing business (rank) 141 Low income Population (m) 7.0 Starting a business (rank) 77 Registering property (rank) 82 Trading across borders (rank) 184 Procedures (number) 5 Procedures (number) 6 Documents to export (number) 11 Time (days) 24 Time (days) 37 Time to export (days) 71 Cost (% of income per capita) 27.1 Cost (% of property value) 4.3 Cost to export (US$ per container) 8,450 Minimum capital (% of income per capita) 0.0 Documents to import (number) 11 Getting credit (rank) 180 Time to import (days) 72 Dealing with construction permits (rank) 180 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 9,800 Procedures (number) 24 Depth of credit information index (0-6) 0 Time (days) 228 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 43 Cost (% of income per capita) 638.5 Private bureau coverage (% of adults) 0.0 Procedures (number) 35 Time (days) 430 Getting electricity (rank) 181 ✔ Protecting investors (rank) 25 Cost (% of claim) 25.5 Procedures (number) 9 Extent of disclosure index (0-10) 8 Time (days) 185 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 79 Cost (% of income per capita) 1,140.6 Ease of shareholder suits index (0-10) 6 Time (years) 1.7 Strength of investor protection index (0-10) 6.7 Cost (% of estate) 9 Recovery rate (cents on the dollar) 36.0 Paying taxes (rank) 175 Payments (number per year) 69 Time (hours per year) 224 Total tax rate (% of profit) 84.5 TANZANIA Sub-Saharan Africa GNI per capita (US$) 540 Ease of doing business (rank) 134 Low income Population (m) 46.2 ✔ Starting a business (rank) 113 Registering property (rank) 137 ✘ Trading across borders (rank) 122 Procedures (number) 9 Procedures (number) 8 Documents to export (number) 6 Time (days) 26 Time (days) 68 Time to export (days) 18 Cost (% of income per capita) 28.2 Cost (% of property value) 4.4 Cost to export (US$ per container) 1,040 Minimum capital (% of income per capita) 0.0 Documents to import (number) 10 Getting credit (rank) 129 Time to import (days) 31 ✘Dealing with construction permits (rank) 174 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,565 Procedures (number) 19 Depth of credit information index (0-6) 0 Time (days) 206 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 36 Cost (% of income per capita) 564.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 38 Time (days) 462 Getting electricity (rank) 96 Protecting investors (rank) 100 Cost (% of claim) 14.3 Procedures (number) 4 Extent of disclosure index (0-10) 3 Time (days) 109 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 129 Cost (% of income per capita) 1,944.1 Ease of shareholder suits index (0-10) 8 Time (years) 3.0 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 22 Recovery rate (cents on the dollar) 21.7 Paying taxes (rank) 133 Payments (number per year) 48 Time (hours per year) 172 Total tax rate (% of profit) 45.3 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 200 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business THAILAND East Asia & Pacific GNI per capita (US$) 4,420 Ease of doing business (rank) 18 Upper middle income Population (m) 69.5 ✔ Starting a business (rank) 85 Registering property (rank) 26 Trading across borders (rank) 20 Procedures (number) 4 Procedures (number) 2 Documents to export (number) 5 Time (days) 29 Time (days) 2 Time to export (days) 14 Cost (% of income per capita) 6.7 Cost (% of property value) 6.3 Cost to export (US$ per container) 585 Minimum capital (% of income per capita) 0.0 Documents to import (number) 5 Getting credit (rank) 70 Time to import (days) 13 Dealing with construction permits (rank) 16 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 750 Procedures (number) 8 Depth of credit information index (0-6) 5 Time (days) 157 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 23 Cost (% of income per capita) 9.2 Private bureau coverage (% of adults) 44.1 Procedures (number) 36 Time (days) 440 Getting electricity (rank) 10 Protecting investors (rank) 13 Cost (% of claim) 15.0 Procedures (number) 4 Extent of disclosure index (0-10) 10 Time (days) 35 Extent of director liability index (0-10) 7 Resolving insolvency (rank) 58 Cost (% of income per capita) 75.3 Ease of shareholder suits index (0-10) 6 Time (years) 2.7 Strength of investor protection index (0-10) 7.7 Cost (% of estate) 36 Recovery rate (cents on the dollar) 42.4 ✔ Paying taxes (rank) 96 Payments (number per year) 22 Time (hours per year) 264 Total tax rate (% of profit) 37.6 TIMOR-LESTE East Asia & Pacific GNI per capita (US$) 3,949 Ease of doing business (rank) 169 Lower middle income Population (m) 1.2 Starting a business (rank) 147 Registering property (rank) 185 Trading across borders (rank) 83 Procedures (number) 8 Procedures (number) NO PRACTICE Documents to export (number) 6 Time (days) 94 Time (days) NO PRACTICE Time to export (days) 25 Cost (% of income per capita) 2.9 Cost (% of property value) NO PRACTICE Cost to export (US$ per container) 750 Minimum capital (% of income per capita) 126.6 Documents to import (number) 7 Getting credit (rank) 159 Time to import (days) 26 Dealing with construction permits (rank) 116 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 755 Procedures (number) 19 Depth of credit information index (0-6) 3 Time (days) 238 Public registry coverage (% of adults) 2.0 Enforcing contracts (rank) 185 Cost (% of income per capita) 13.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 51 Time (days) 1,285 Getting electricity (rank) 40 Protecting investors (rank) 139 Cost (% of claim) 163.2 Procedures (number) 3 Extent of disclosure index (0-10) 3 Time (days) 63 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 185 Cost (% of income per capita) 593.0 Ease of shareholder suits index (0-10) 5 Time (years) NO PRACTICE Strength of investor protection index (0-10) 4.0 Cost (% of estate) NO PRACTICE Recovery rate (cents on the dollar) 0.0 Paying taxes (rank) 61 Payments (number per year) 18 Time (hours per year) 276 Total tax rate (% of profit) 15.1 TOGO Sub-Saharan Africa GNI per capita (US$) 560 Ease of doing business (rank) 156 Low income Population (m) 6.2 ✔ Starting a business (rank) 164 Registering property (rank) 160 Trading across borders (rank) 101 Procedures (number) 6 Procedures (number) 5 Documents to export (number) 6 Time (days) 38 Time (days) 295 Time to export (days) 24 Cost (% of income per capita) 119.4 Cost (% of property value) 12.5 Cost to export (US$ per container) 940 Minimum capital (% of income per capita) 365.6 Documents to import (number) 8 Getting credit (rank) 129 Time to import (days) 28 Dealing with construction permits (rank) 137 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,109 Procedures (number) 12 Depth of credit information index (0-6) 1 Time (days) 309 Public registry coverage (% of adults) 2.8 Enforcing contracts (rank) 157 Cost (% of income per capita) 431.5 Private bureau coverage (% of adults) 0.0 Procedures (number) 41 Time (days) 588 Getting electricity (rank) 89 Protecting investors (rank) 150 Cost (% of claim) 47.5 Procedures (number) 4 Extent of disclosure index (0-10) 6 Time (days) 74 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 96 Cost (% of income per capita) 4,732.5 Ease of shareholder suits index (0-10) 4 Time (years) 3.0 Strength of investor protection index (0-10) 3.7 Cost (% of estate) 15 Recovery rate (cents on the dollar) 30.5 Paying taxes (rank) 167 Payments (number per year) 53 Time (hours per year) 270 Total tax rate (% of profit) 49.5 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 201 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business TONGA East Asia & Pacific GNI per capita (US$) 3,580 Ease of doing business (rank) 62 Lower middle income Population (m) 0.1 Starting a business (rank) 35 Registering property (rank) 142 Trading across borders (rank) 77 Procedures (number) 4 Procedures (number) 4 Documents to export (number) 6 Time (days) 16 Time (days) 112 Time to export (days) 22 Cost (% of income per capita) 8.3 Cost (% of property value) 15.1 Cost to export (US$ per container) 755 Minimum capital (% of income per capita) 0.0 Documents to import (number) 6 Getting credit (rank) 83 Time to import (days) 26 Dealing with construction permits (rank) 37 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 740 Procedures (number) 13 Depth of credit information index (0-6) 0 Time (days) 69 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 54 Cost (% of income per capita) 103.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 37 Time (days) 350 Getting electricity (rank) 30 Protecting investors (rank) 117 Cost (% of claim) 30.5 Procedures (number) 5 Extent of disclosure index (0-10) 3 Time (days) 42 Extent of director liability index (0-10) 3 Resolving insolvency (rank) 118 Cost (% of income per capita) 101.5 Ease of shareholder suits index (0-10) 8 Time (years) 2.7 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 22 Recovery rate (cents on the dollar) 25.7 Paying taxes (rank) 40 Payments (number per year) 31 Time (hours per year) 164 Total tax rate (% of profit) 25.7 TRINIDAD AND TOBAGO Latin America & Caribbean GNI per capita (US$) 15,040 Ease of doing business (rank) 69 High income Population (m) 1.3 Starting a business (rank) 71 ✔ Registering property (rank) 176 ✔ Trading across borders (rank) 75 Procedures (number) 8 Procedures (number) 9 Documents to export (number) 5 Time (days) 41 Time (days) 78 Time to export (days) 11 Cost (% of income per capita) 0.7 Cost (% of property value) 7.0 Cost to export (US$ per container) 843 Minimum capital (% of income per capita) 0.0 Documents to import (number) 10 Getting credit (rank) 23 Time to import (days) 14 Dealing with construction permits (rank) 101 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,260 Procedures (number) 17 Depth of credit information index (0-6) 4 Time (days) 297 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 170 Cost (% of income per capita) 5.3 Private bureau coverage (% of adults) 46.0 Procedures (number) 42 Time (days) 1,340 Getting electricity (rank) 11 Protecting investors (rank) 25 Cost (% of claim) 33.5 Procedures (number) 4 Extent of disclosure index (0-10) 4 Time (days) 61 Extent of director liability index (0-10) 9 Resolving insolvency (rank) 135 Cost (% of income per capita) 6.6 Ease of shareholder suits index (0-10) 7 Time (years) 4.0 Strength of investor protection index (0-10) 6.7 Cost (% of estate) 25 Recovery rate (cents on the dollar) 18.4 Paying taxes (rank) 90 Payments (number per year) 39 Time (hours per year) 210 Total tax rate (% of profit) 29.1 TUNISIA Middle East & North Africa GNI per capita (US$) 4,070 Ease of doing business (rank) 50 Upper middle income Population (m) 10.7 Starting a business (rank) 66 Registering property (rank) 70 Trading across borders (rank) 30 Procedures (number) 10 Procedures (number) 4 Documents to export (number) 4 Time (days) 11 Time (days) 39 Time to export (days) 13 Cost (% of income per capita) 4.1 Cost (% of property value) 6.1 Cost to export (US$ per container) 773 Minimum capital (% of income per capita) 0.0 Documents to import (number) 7 Getting credit (rank) 104 Time to import (days) 17 Dealing with construction permits (rank) 93 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 858 Procedures (number) 17 Depth of credit information index (0-6) 5 Time (days) 88 Public registry coverage (% of adults) 27.8 Enforcing contracts (rank) 78 Cost (% of income per capita) 256.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 39 Time (days) 565 Getting electricity (rank) 51 Protecting investors (rank) 49 Cost (% of claim) 21.8 Procedures (number) 4 Extent of disclosure index (0-10) 5 Time (days) 65 Extent of director liability index (0-10) 7 Resolving insolvency (rank) 39 Cost (% of income per capita) 878.5 Ease of shareholder suits index (0-10) 6 Time (years) 1.3 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 7 Recovery rate (cents on the dollar) 52.0 Paying taxes (rank) 62 Payments (number per year) 8 Time (hours per year) 144 Total tax rate (% of profit) 62.9 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 202 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business TURKEY Eastern Europe & Central Asia GNI per capita (US$) 10,410 Ease of doing business (rank) 71 Upper middle income Population (m) 73.6 Starting a business (rank) 72 Registering property (rank) 42 Trading across borders (rank) 78 Procedures (number) 6 Procedures (number) 6 Documents to export (number) 7 Time (days) 6 Time (days) 6 Time to export (days) 13 Cost (% of income per capita) 10.5 Cost (% of property value) 3.3 Cost to export (US$ per container) 990 Minimum capital (% of income per capita) 7.2 Documents to import (number) 7 Getting credit (rank) 83 Time to import (days) 14 ✔ Dealing with construction permits (rank) 142 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 1,235 Procedures (number) 20 Depth of credit information index (0-6) 5 Time (days) 180 Public registry coverage (% of adults) 23.5 ✔ Enforcing contracts (rank) 40 Cost (% of income per capita) 164.3 Private bureau coverage (% of adults) 63.0 Procedures (number) 36 Time (days) 420 Getting electricity (rank) 68 Protecting investors (rank) 70 Cost (% of claim) 24.9 Procedures (number) 5 Extent of disclosure index (0-10) 9 Time (days) 70 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 124 Cost (% of income per capita) 517.9 Ease of shareholder suits index (0-10) 4 Time (years) 3.3 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 15 Recovery rate (cents on the dollar) 23.6 Paying taxes (rank) 80 Payments (number per year) 15 Time (hours per year) 223 Total tax rate (% of profit) 41.2 UGANDA Sub-Saharan Africa GNI per capita (US$) 510 Ease of doing business (rank) 120 Low income Population (m) 34.5 Starting a business (rank) 144 ✘ Registering property (rank) 124 Trading across borders (rank) 159 Procedures (number) 15 Procedures (number) 12 Documents to export (number) 7 Time (days) 33 Time (days) 52 Time to export (days) 33 Cost (% of income per capita) 76.7 Cost (% of property value) 1.9 Cost to export (US$ per container) 3,050 Minimum capital (% of income per capita) 0.0 Documents to import (number) 9 Getting credit (rank) 40 Time to import (days) 33 Dealing with construction permits (rank) 118 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 3,215 Procedures (number) 15 Depth of credit information index (0-6) 5 Time (days) 125 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 117 Cost (% of income per capita) 853.1 Private bureau coverage (% of adults) 3.7 Procedures (number) 38 Time (days) 490 Getting electricity (rank) 127 Protecting investors (rank) 139 Cost (% of claim) 44.9 Procedures (number) 5 Extent of disclosure index (0-10) 2 Time (days) 91 Extent of director liability index (0-10) 5 ✔ Resolving insolvency (rank) 69 Cost (% of income per capita) 4,622.9 Ease of shareholder suits index (0-10) 5 Time (years) 2.2 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 30 Recovery rate (cents on the dollar) 38.9 Paying taxes (rank) 93 Payments (number per year) 31 Time (hours per year) 213 Total tax rate (% of profit) 37.1 UKRAINE Eastern Europe & Central Asia GNI per capita (US$) 3,120 Ease of doing business (rank) 137 Lower middle income Population (m) 45.7 ✔ Starting a business (rank) 50 ✔ Registering property (rank) 149 Trading across borders (rank) 145 Procedures (number) 7 Procedures (number) 10 Documents to export (number) 6 Time (days) 22 Time (days) 69 Time to export (days) 30 Cost (% of income per capita) 1.5 Cost (% of property value) 3.7 Cost to export (US$ per container) 1,865 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 23 Time to import (days) 33 Dealing with construction permits (rank) 183 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 2,155 Procedures (number) 20 Depth of credit information index (0-6) 4 Time (days) 375 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 42 Cost (% of income per capita) 1,262.6 Private bureau coverage (% of adults) 23.3 Procedures (number) 30 Time (days) 343 Getting electricity (rank) 166 Protecting investors (rank) 117 Cost (% of claim) 41.5 Procedures (number) 11 Extent of disclosure index (0-10) 5 Time (days) 285 Extent of director liability index (0-10) 2 Resolving insolvency (rank) 157 Cost (% of income per capita) 192.3 Ease of shareholder suits index (0-10) 7 Time (years) 2.9 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 42 Recovery rate (cents on the dollar) 8.7 ✔ Paying taxes (rank) 165 Payments (number per year) 28 Time (hours per year) 491 Total tax rate (% of profit) 55.4 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 203 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business UNITED ARAB EMIRATES Middle East & North Africa GNI per capita (US$) 40,760 Ease of doing business (rank) 26 High income Population (m) 7.9 ✔ Starting a business (rank) 22 Registering property (rank) 12 Trading across borders (rank) 5 Procedures (number) 6 Procedures (number) 2 Documents to export (number) 4 Time (days) 8 Time (days) 10 Time to export (days) 7 Cost (% of income per capita) 6.0 Cost (% of property value) 2.3 Cost to export (US$ per container) 630 Minimum capital (% of income per capita) 0.0 Documents to import (number) 5 Getting credit (rank) 83 Time to import (days) 7 Dealing with construction permits (rank) 13 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 590 Procedures (number) 14 Depth of credit information index (0-6) 5 Time (days) 46 Public registry coverage (% of adults) 5.9 Enforcing contracts (rank) 104 Cost (% of income per capita) 9.2 Private bureau coverage (% of adults) 31.7 Procedures (number) 49 Time (days) 524 ✔ Getting electricity (rank) 7 Protecting investors (rank) 128 Cost (% of claim) 19.5 Procedures (number) 4 Extent of disclosure index (0-10) 4 Time (days) 40 Extent of director liability index (0-10) 7 Resolving insolvency (rank) 101 Cost (% of income per capita) 19.3 Ease of shareholder suits index (0-10) 2 Time (years) 3.2 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 20 Recovery rate (cents on the dollar) 29.4 ✔ Paying taxes (rank) 1 Payments (number per year) 4 Time (hours per year) 12 Total tax rate (% of profit) 14.9 UNITED KINGDOM OECD high income GNI per capita (US$) 37,780 Ease of doing business (rank) 7 High income Population (m) 62.6 Starting a business (rank) 19 Registering property (rank) 73 Trading across borders (rank) 14 Procedures (number) 6 Procedures (number) 6 Documents to export (number) 4 Time (days) 13 Time (days) 29 Time to export (days) 7 Cost (% of income per capita) 0.7 Cost (% of property value) 4.7 Cost to export (US$ per container) 950 Minimum capital (% of income per capita) 0.0 Documents to import (number) 4 Getting credit (rank) 1 Time to import (days) 6 Dealing with construction permits (rank) 20 Strength of legal rights index (0-10) 10 Cost to import (US$ per container) 1,045 Procedures (number) 9 Depth of credit information index (0-6) 6 Time (days) 99 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 21 Cost (% of income per capita) 62.4 Private bureau coverage (% of adults) 100.0 Procedures (number) 28 Time (days) 399 Getting electricity (rank) 62 Protecting investors (rank) 10 Cost (% of claim) 25.9 Procedures (number) 5 Extent of disclosure index (0-10) 10 Time (days) 105 Extent of director liability index (0-10) 7 Resolving insolvency (rank) 8 Cost (% of income per capita) 108.9 Ease of shareholder suits index (0-10) 7 Time (years) 1.0 Strength of investor protection index (0-10) 8.0 Cost (% of estate) 6 Recovery rate (cents on the dollar) 88.6 ✔ Paying taxes (rank) 16 Payments (number per year) 8 Time (hours per year) 110 Total tax rate (% of profit) 35.5 UNITED STATES OECD high income GNI per capita (US$) 48,450 Ease of doing business (rank) 4 High income Population (m) 311.6 Starting a business (rank) 13 Registering property (rank) 25 Trading across borders (rank) 22 Procedures (number) 6 Procedures (number) 4 Documents to export (number) 4 Time (days) 6 Time (days) 12 Time to export (days) 6 Cost (% of income per capita) 1.4 Cost (% of property value) 3.5 Cost to export (US$ per container) 1,090 Minimum capital (% of income per capita) 0.0 Documents to import (number) 5 Getting credit (rank) 4 Time to import (days) 5 Dealing with construction permits (rank) 17 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,315 Procedures (number) 15 Depth of credit information index (0-6) 6 Time (days) 27 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 6 Cost (% of income per capita) 14.4 Private bureau coverage (% of adults) 100.0 Procedures (number) 32 Time (days) 370 Getting electricity (rank) 19 Protecting investors (rank) 6 Cost (% of claim) 14.4 Procedures (number) 4 Extent of disclosure index (0-10) 7 Time (days) 68 Extent of director liability index (0-10) 9 Resolving insolvency (rank) 16 Cost (% of income per capita) 16.1 Ease of shareholder suits index (0-10) 9 Time (years) 1.5 Strength of investor protection index (0-10) 8.3 Cost (% of estate) 7 Recovery rate (cents on the dollar) 81.5 Paying taxes (rank) 69 Payments (number per year) 11 Time (hours per year) 175 Total tax rate (% of profit) 46.7 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 204 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business URUGUAY Latin America & Caribbean GNI per capita (US$) 11,860 Ease of doing business (rank) 89 Upper middle income Population (m) 3.4 Starting a business (rank) 39 Registering property (rank) 164 ✔ Trading across borders (rank) 104 Procedures (number) 5 Procedures (number) 8 Documents to export (number) 7 Time (days) 7 Time (days) 66 Time to export (days) 16 Cost (% of income per capita) 24.3 Cost (% of property value) 7.1 Cost to export (US$ per container) 1,125 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 70 Time to import (days) 18 Dealing with construction permits (rank) 158 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 1,440 Procedures (number) 27 Depth of credit information index (0-6) 6 Time (days) 234 Public registry coverage (% of adults) 32.9 Enforcing contracts (rank) 102 Cost (% of income per capita) 67.0 Private bureau coverage (% of adults) 100.0 Procedures (number) 41 Time (days) 725 Getting electricity (rank) 20 Protecting investors (rank) 100 Cost (% of claim) 19.0 Procedures (number) 5 Extent of disclosure index (0-10) 3 Time (days) 48 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 54 Cost (% of income per capita) 14.3 Ease of shareholder suits index (0-10) 8 Time (years) 2.1 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 7 Recovery rate (cents on the dollar) 43.3 ✔ Paying taxes (rank) 140 Payments (number per year) 33 Time (hours per year) 310 Total tax rate (% of profit) 42.0 UZBEKISTAN Eastern Europe & Central Asia GNI per capita (US$) 1,510 Ease of doing business (rank) 154 Lower middle income Population (m) 29.3 ✔ Starting a business (rank) 90 Registering property (rank) 138 ✔ Trading across borders (rank) 185 Procedures (number) 6 Procedures (number) 15 Documents to export (number) 13 Time (days) 12 Time (days) 78 Time to export (days) 80 Cost (% of income per capita) 3.8 Cost (% of property value) 1.0 Cost to export (US$ per container) 4,585 Minimum capital (% of income per capita) 27.4 Documents to import (number) 14 ✔ Getting credit (rank) 154 Time to import (days) 99 Dealing with construction permits (rank) 152 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 4,750 Procedures (number) 25 Depth of credit information index (0-6) 4 Time (days) 243 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 46 Cost (% of income per capita) 60.7 Private bureau coverage (% of adults) 15.7 Procedures (number) 42 Time (days) 195 Getting electricity (rank) 167 Protecting investors (rank) 139 Cost (% of claim) 22.2 Procedures (number) 9 Extent of disclosure index (0-10) 4 Time (days) 108 Extent of director liability index (0-10) 1 ✔ Resolving insolvency (rank) 73 Cost (% of income per capita) 1,420.3 Ease of shareholder suits index (0-10) 7 Time (years) 2.0 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 10 Recovery rate (cents on the dollar) 38.5 Paying taxes (rank) 161 Payments (number per year) 41 Time (hours per year) 205 Total tax rate (% of profit) 98.5 VANUATU East Asia & Pacific GNI per capita (US$) 2,870 Ease of doing business (rank) 80 Lower middle income Population (m) 0.2 Starting a business (rank) 116 Registering property (rank) 110 Trading across borders (rank) 132 Procedures (number) 8 Procedures (number) 4 Documents to export (number) 7 Time (days) 35 Time (days) 118 Time to export (days) 21 Cost (% of income per capita) 47.2 Cost (% of property value) 7.0 Cost to export (US$ per container) 1,690 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 83 Time to import (days) 20 ✘ Dealing with construction permits (rank) 48 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,690 Procedures (number) 12 Depth of credit information index (0-6) 0 Time (days) 54 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 74 Cost (% of income per capita) 431.2 Private bureau coverage (% of adults) 0.0 Procedures (number) 30 Time (days) 430 Getting electricity (rank) 124 Protecting investors (rank) 82 Cost (% of claim) 56.0 Procedures (number) 5 Extent of disclosure index (0-10) 5 Time (days) 122 Extent of director liability index (0-10) 6 Resolving insolvency (rank) 57 Cost (% of income per capita) 1,248.1 Ease of shareholder suits index (0-10) 5 Time (years) 2.6 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 38 Recovery rate (cents on the dollar) 42.7 Paying taxes (rank) 28 Payments (number per year) 31 Time (hours per year) 120 Total tax rate (% of profit) 8.4 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. COUNTRY TABLES 205 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business VENEZUELA, RB Latin America & Caribbean GNI per capita (US$) 11,920 Ease of doing business (rank) 180 Upper middle income Population (m) 29.3 ✘ Starting a business (rank) 152 Registering property (rank) 90 Trading across borders (rank) 166 Procedures (number) 17 Procedures (number) 8 Documents to export (number) 8 Time (days) 144 Time (days) 38 Time to export (days) 49 Cost (% of income per capita) 27.7 Cost (% of property value) 2.5 Cost to export (US$ per container) 2,590 Minimum capital (% of income per capita) 0.0 Documents to import (number) 9 Getting credit (rank) 159 Time to import (days) 71 Dealing with construction permits (rank) 109 Strength of legal rights index (0-10) 1 Cost to import (US$ per container) 2,868 Procedures (number) 10 Depth of credit information index (0-6) 4 Time (days) 381 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 80 Cost (% of income per capita) 123.5 Private bureau coverage (% of adults) 15.7 Procedures (number) 30 Time (days) 510 Getting electricity (rank) 160 Protecting investors (rank) 181 Cost (% of claim) 43.7 Procedures (number) 6 Extent of disclosure index (0-10) 3 Time (days) 158 Extent of director liability index (0-10) 2 Resolving insolvency (rank) 163 Cost (% of income per capita) 1,022.6 Ease of shareholder suits index (0-10) 2 Time (years) 4.0 Strength of investor protection index (0-10) 2.3 Cost (% of estate) 38 Recovery rate (cents on the dollar) 6.4 ✘ Paying taxes (rank) 185 Payments (number per year) 71 Time (hours per year) 792 Total tax rate (% of profit) 62.7 VIETNAM East Asia & Pacific GNI per capita (US$) 1,260 Ease of doing business (rank) 99 Lower middle income Population (m) 87.8 ✔ Starting a business (rank) 108 Registering property (rank) 48 Trading across borders (rank) 74 Procedures (number) 10 Procedures (number) 4 Documents to export (number) 6 Time (days) 34 Time (days) 57 Time to export (days) 21 Cost (% of income per capita) 8.7 Cost (% of property value) 0.6 Cost to export (US$ per container) 610 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 40 Time to import (days) 21 Dealing with construction permits (rank) 28 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 600 Procedures (number) 11 Depth of credit information index (0-6) 4 Time (days) 110 Public registry coverage (% of adults) 37.8 Enforcing contracts (rank) 44 Cost (% of income per capita) 67.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 34 Time (days) 400 Getting electricity (rank) 155 Protecting investors (rank) 169 Cost (% of claim) 29.0 Procedures (number) 6 Extent of disclosure index (0-10) 6 Time (days) 115 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 149 Cost (% of income per capita) 1,988.3 Ease of shareholder suits index (0-10) 2 Time (years) 5.0 Strength of investor protection index (0-10) 3.0 Cost (% of estate) 15 Recovery rate (cents on the dollar) 13.9 Paying taxes (rank) 138 Payments (number per year) 32 Time (hours per year) 872 Total tax rate (% of profit) 34.5 WEST BANK AND GAZA Middle East & North Africa GNI per capita (US$) 1,610 Ease of doing business (rank) 135 Lower middle income Population (m) 4.0 Starting a business (rank) 179 ✘ Registering property (rank) 78 Trading across borders (rank) 114 Procedures (number) 11 Procedures (number) 7 Documents to export (number) 6 Time (days) 48 Time (days) 30 Time to export (days) 23 Cost (% of income per capita) 91.0 Cost (% of property value) 3.0 Cost to export (US$ per container) 1,310 Minimum capital (% of income per capita) 206.7 Documents to import (number) 6 ✔ Getting credit (rank) 159 Time to import (days) 38 Dealing with construction permits (rank) 130 Strength of legal rights index (0-10) 1 Cost to import (US$ per container) 1,295 Procedures (number) 17 Depth of credit information index (0-6) 4 Time (days) 119 Public registry coverage (% of adults) 8.1 Enforcing contracts (rank) 93 Cost (% of income per capita) 948.1 Private bureau coverage (% of adults) 0.0 Procedures (number) 44 Time (days) 540 Getting electricity (rank) 85 Protecting investors (rank) 49 Cost (% of claim) 21.2 Procedures (number) 5 Extent of disclosure index (0-10) 6 Time (days) 63 Extent of director liability index (0-10) 5 Resolving insolvency (rank) 185 Cost (% of income per capita) 1,549.1 Ease of shareholder suits index (0-10) 7 Time (years) NO PRACTICE Strength of investor protection index (0-10) 6.0 Cost (% of estate) NO PRACTICE Recovery rate (cents on the dollar) 0.0 Paying taxes (rank) 55 Payments (number per year) 39 Time (hours per year) 154 Total tax rate (% of profit) 16.8 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 206 DOING BUSINESS 2013 ✔ Reform making it easier to do business ✘ Reform making it more difficult to do business YEMEN, REP. Middle East & North Africa GNI per capita (US$) 1,070 Ease of doing business (rank) 118 Lower middle income Population (m) 24.8 Starting a business (rank) 110 Registering property (rank) 59 Trading across borders (rank) 121 Procedures (number) 6 Procedures (number) 6 Documents to export (number) 6 Time (days) 40 Time (days) 19 Time to export (days) 29 Cost (% of income per capita) 71.9 Cost (% of property value) 3.8 Cost to export (US$ per container) 995 Minimum capital (% of income per capita) 0.0 Documents to import (number) 9 Getting credit (rank) 167 Time to import (days) 25 Dealing with construction permits (rank) 62 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 1,490 Procedures (number) 12 Depth of credit information index (0-6) 2 Time (days) 191 Public registry coverage (% of adults) 0.9 Enforcing contracts (rank) 45 Cost (% of income per capita) 52.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 36 Time (days) 569 Getting electricity (rank) 112 Protecting investors (rank) 139 Cost (% of claim) 16.5 Procedures (number) 4 Extent of disclosure index (0-10) 6 Time (days) 110 Extent of director liability index (0-10) 4 Resolving insolvency (rank) 122 Cost (% of income per capita) 3,921.2 Ease of shareholder suits index (0-10) 2 Time (years) 3.0 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 8 Recovery rate (cents on the dollar) 24.1 Paying taxes (rank) 113 Payments (number per year) 44 Time (hours per year) 248 Total tax rate (% of profit) 32.9 ZAMBIA Sub-Saharan Africa GNI per capita (US$) 1,160 Ease of doing business (rank) 94 Lower middle income Population (m) 13.5 Starting a business (rank) 74 Registering property (rank) 96 Trading across borders (rank) 156 Procedures (number) 6 Procedures (number) 5 Documents to export (number) 6 Time (days) 17 Time (days) 40 Time to export (days) 44 Cost (% of income per capita) 26.6 Cost (% of property value) 8.2 Cost to export (US$ per container) 2,765 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 12 Time to import (days) 56 Dealing with construction permits (rank) 151 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 3,560 Procedures (number) 14 Depth of credit information index (0-6) 5 Time (days) 196 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 89 Cost (% of income per capita) 1,679.1 Private bureau coverage (% of adults) 5.4 Procedures (number) 35 Time (days) 471 Getting electricity (rank) 151 Protecting investors (rank) 82 Cost (% of claim) 38.7 Procedures (number) 6 Extent of disclosure index (0-10) 3 Time (days) 117 Extent of director liability index (0-10) 6 ✔ Resolving insolvency (rank) 99 Cost (% of income per capita) 1,109.5 Ease of shareholder suits index (0-10) 7 Time (years) 2.7 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 9 Recovery rate (cents on the dollar) 29.8 Paying taxes (rank) 47 Payments (number per year) 37 Time (hours per year) 132 Total tax rate (% of profit) 15.2 ZIMBABWE Sub-Saharan Africa GNI per capita (US$) 640 Ease of doing business (rank) 172 Low income Population (m) 12.8 Starting a business (rank) 143 Registering property (rank) 85 Trading across borders (rank) 167 Procedures (number) 9 Procedures (number) 5 Documents to export (number) 8 Time (days) 90 Time (days) 31 Time to export (days) 53 Cost (% of income per capita) 107.0 Cost (% of property value) 7.8 Cost to export (US$ per container) 3,280 Minimum capital (% of income per capita) 0.0 Documents to import (number) 8 Getting credit (rank) 129 Time to import (days) 73 Dealing with construction permits (rank) 170 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 5,200 Procedures (number) 12 Depth of credit information index (0-6) 0 Time (days) 614 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 111 Cost (% of income per capita) 4,423.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 38 Time (days) 410 Getting electricity (rank) 157 Protecting investors (rank) 128 Cost (% of claim) 113.1 Procedures (number) 6 Extent of disclosure index (0-10) 8 Time (days) 106 Extent of director liability index (0-10) 1 Resolving insolvency (rank) 169 Cost (% of income per capita) 3,917.2 Ease of shareholder suits index (0-10) 4 Time (years) 3.3 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 22 Recovery rate (cents on the dollar) 0.1 Paying taxes (rank) 134 Payments (number per year) 49 Time (hours per year) 242 Total tax rate (% of profit) 35.8 Note: Most indicator sets refer to a case scenario in an economy’s largest business city. For more details, see the data notes. 207 Employing workers data Employing workers data Difficulty of hiring index Rigidity of hours index Difficulty of redundancy index Redundancy cost Fixed-term contracts prohibited Priority rules for redundancies? Maximum length of fixed-term Severance pay for redundancy Minimum wage for a 19-year- 50-hour workweek allowed?c Notice period for redundancy Premium for work on weekly Dismissal due to redundancy Retraining or reassignment?f old worker or an apprentice dismissal (weeks of salary)e dismissal (weeks of salary)e Ratio of minimum wage to rest day (% of hourly pay)d on weekly holiday work?d 9 workers are dismissed? 9 workers are dismissed? Third-party notification if Third-party notification if Maximum working days Premium for night work value added per worker 1 worker is dismissed? 1 worker is dismissed? Third-party approval if Third-party approval if for permanent tasks? contracts (months)a (% of hourly pay)d Paid annual leave Major restrictions Major restrictions allowed by law? Priority rules for on night work?d reemployment? (working days)e (US$/month)b per week Afghanistan No No limit 0.0 0.00 Yes 6 25 50 No No 20.0 Yes Yes No Yes Yes No No Yes 4.3 17.3 Albania Yes No limit 196.6 0.40 Yes 6 50 25 Yes No 20.0 Yes No No No No No No Yes 10.1 10.7 Algeria Yes No limit 219.1 0.40 No 6 0 0 No No 22.0 Yes Yes No Yes No Yes Yes No 4.3 13.0 Angola Yes 12 110.6 0.17 Yes 6 25 100 Yes Yes 22.0 Yes Yes Yes Yes Yes No Yes Yes 4.3 26.7 Antigua and Barbuda No No limit 569.2 0.36 Yes 6 0 0 No No 12.0 Yes No No No No Yes Yes No 3.4 12.8 Argentina Yes 60 508.1 0.40 Yes 6 13 50 No No 18.0 Yes No No No No No No No 7.2 23.1 Armenia Yes No limit 84.1 0.21 Yes 6 30 100 No No 20.0 Yes No No No No Yes No No 6.0 5.0 Australia No No limit 1,845.9 0.23 Yes 7 0 0 No No 25.0 Yes No No No No Yes No No 2.7 8.7 Austria No No limit 723.0 0.12 Yes 5.5 17 100 No No 25.0 Yes Yes No Yes No No Yes Yes 2.0 0.0 Azerbaijan No 60 101.9 0.17 Yes 6 40 150 Yes No 17.0 Yes No No No No No Yes No 8.7 13.0 Bahamas, The No No limit 693.3 0.25 Yes 5.5 0 0 No No 11.7 Yes Yes No Yes No No No No 2.0 10.7 Bahrain No No limit 0.0 0.00 Yes 6 50 50 No No 18.3 Yes No No No No No No No 4.3 0.0 Bangladesh Yes No limit 41.0 0.41 Yes 6 0 0 No No 17.0 Yes Yes No Yes No No Yes Yes 4.3 26.7 Barbados No No limit 0.0 0.00 Yes 7 0 0 No No 20.3 Yes No No No No No No No 2.7 13.3 Belarus No No limit 208.1 0.31 Yes 6 20 100 No No 18.0 Yes No No No No Yes Yes No 8.7 13.0 Belgium No No limit 1,757.4 0.30 Yes 6 4 100 No Yes 20.0 Yes No No No No No No No 7.2 0.0 Belize No No limit 381.9 0.77 Yes 6 0 50 No No 10.0 Yes Yes No Yes No No No No 3.3 5.0 Benin No 48 65.2 0.54 Yes 6 0 0 No No 24.0 Yes Yes No Yes No No Yes Yes 4.3 7.3 Bhutan No No limit 0.0 0.00 Yes 6 0 0 No No 15.0 Yes Yes No Yes No No No No 8.3 0.0 DOING BUSINESS 2013 Boliviag Yes 24 103.0 0.36 Yes 6 30 100 No No 21.7 No n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. Bosnia and No 24 393.6 0.70 Yes 6 30 20 No No 18.0 Yes No No Yes No Yes No Yes 2.0 7.2 Herzegovina Botswana No No limit 92.5 0.09 Yes 6 0 100 No No 15.0 Yes Yes No Yes No No Yes Yes 4.9 16.8 Brazil Yes 24 349.4 0.27 Yes 6 20 100 Yes No 26.0 Yes No No No No No No No 6.6 8.9 Brunei Darussalam No No limit 0.0 0.00 Yes 6 0 50 No No 13.3 Yes No No No No No No No 3.0 0.0 208 209 EMPLOYING WORKERS DATA Employing workers data Difficulty of hiring index Rigidity of hours index Difficulty of redundancy index Redundancy cost Fixed-term contracts prohibited Priority rules for redundancies? Maximum length of fixed-term Severance pay for redundancy Minimum wage for a 19-year- 50-hour workweek allowed?c Notice period for redundancy Premium for work on weekly Dismissal due to redundancy Retraining or reassignment?f old worker or an apprentice dismissal (weeks of salary)e dismissal (weeks of salary)e Ratio of minimum wage to rest day (% of hourly pay)d on weekly holiday work?d 9 workers are dismissed? 9 workers are dismissed? Third-party notification if Third-party notification if Maximum working days Premium for night work value added per worker 1 worker is dismissed? 1 worker is dismissed? Third-party approval if Third-party approval if for permanent tasks? contracts (months)a (% of hourly pay)d Paid annual leave Major restrictions Major restrictions allowed by law? Priority rules for on night work?d reemployment? (working days)e (US$/month)b per week Bulgaria No 36 197.0 0.25 Yes 6 10 0 Yes No 20.0 Yes No No No No No No No 4.3 3.2 Burkina Faso No No limit 66.8 0.74 Yes 6 0 0 No No 22.0 Yes No No Yes No No Yes Yes 4.3 6.1 Burundi No No limit 2.9 0.08 Yes 6 35 100 No Yes 21.0 Yes No No Yes No No Yes Yes 8.7 7.2 Cambodia No 24 43.0 0.40 Yes 6 30 100 No No 19.3 Yes No No Yes No No Yes Yes 7.9 11.4 Cameroon No 48 57.5 0.32 Yes 6 50 0 No No 19.0 Yes Yes Yes Yes Yes No Yes Yes 7.2 8.1 Canada No No limit 1,652.9 0.30 Yes 6 0 0 No No 10.0 Yes No No No No No No No 5.0 5.0 Cape Verde Yes 60 0.0 0.00 Yes 6 25 100 No No 22.0 Yes Yes Yes Yes Yes Yes Yes No 6.4 23.1 Central African Yes 48 39.3 0.56 Yes 5 0 50 No Yes 25.3 Yes Yes No Yes Yes No Yes Yes 4.3 17.3 Republic Chad No 48 119.8 1.08 Yes 6 0 100 No No 24.7 Yes Yes No Yes No No Yes Yes 7.2 5.8 Chile No 24 0.0 0.00 Yes 6 0 0 No No 15.0 Yes Yes No Yes No No No No 4.3 23.1 China No No limit 204.2 0.36 Yes 6 39 100 No No 6.7 Yes Yes No Yes No Yes Yes Yes 4.3 23.1 Colombia No No limit 277.8 0.36 Yes 6 35 75 No No 15.0 Yes No No No No No No No 0.0 16.7 Comoros No 36 0.0 0.00 Yes 6 0 0 No Yes 22.0 Yes Yes No Yes No No Yes Yes 13.0 23.1 Congo, Dem. Rep. Yes 48 65.0 2.11 Yes 5 25 0 No No 13.0 Yes Yes Yes Yes Yes No Yes Yes 10.3 0.0 Congo, Rep. Yes 24 92.1 0.27 Yes 6 0 50 No Yes 29.0 Yes Yes Yes Yes Yes No Yes Yes 4.3 6.5 Costa Rica Yes 12 420.4 0.45 Yes 6 0 100 Yes No 12.0 Yes No No No No No No No 4.3 14.4 Côte d’Ivoire No 24 0.0 0.00 No 6 38 0 No No 27.4 Yes No No Yes No No No Yes 5.8 7.3 Croatia Yes 36 521.5 0.31 Yes 6 10 35 No Yes 20.0 Yes Yes No Yes No Yes Yes Yes 7.9 7.2 Cyprus No 30 0.0 0.00 Yes 6 0 0 No No 20.0 Yes Yes No Yes No Yes No Yes 5.7 0.0 Czech Republic No 108 440.1 0.20 Yes 6 10 10 No No 20.0 Yes No No No No No No No 8.7 11.6 Denmark No No limit 0.0 0.00 Yes 6 0 0 No No 25.0 Yes No No No No No No No 0.0 0.0 Djibouti Yes 24 0.0 0.00 Yes 6 0 0 No No 30.0 Yes Yes No Yes No No No Yes 4.3 0.0 Dominica No No limit 234.1 0.25 Yes 6 0 100 No No 13.3 Yes No No No No No Yes Yes 5.8 9.3 Dominican Republic Yes No limit 277.2 0.40 Yes 6 0 100 No Yes 14.0 Yes No No No No No No No 4.0 22.2 Employing workers data Difficulty of hiring index Rigidity of hours index Difficulty of redundancy index Redundancy cost Fixed-term contracts prohibited Priority rules for redundancies? Maximum length of fixed-term Severance pay for redundancy Minimum wage for a 19-year- 50-hour workweek allowed?c Notice period for redundancy Premium for work on weekly Dismissal due to redundancy Retraining or reassignment?f old worker or an apprentice dismissal (weeks of salary)e dismissal (weeks of salary)e Ratio of minimum wage to rest day (% of hourly pay)d on weekly holiday work?d 9 workers are dismissed? 9 workers are dismissed? Third-party notification if Third-party notification if Maximum working days Premium for night work value added per worker 1 worker is dismissed? 1 worker is dismissed? Third-party approval if Third-party approval if for permanent tasks? contracts (months)a (% of hourly pay)d Paid annual leave Major restrictions Major restrictions allowed by law? Priority rules for on night work?d reemployment? (working days)e (US$/month)b per week Ecuador No 24 251.9 0.47 Yes 5 25 100 No No 12.0 Yes Yes No Yes No No No No 0.0 31.8 Egypt, Arab Rep. No No limit 113.0 0.33 Yes 6 0 0 No No 24.0 Yes Yes Yes Yes Yes No Yes No 10.1 26.7 El Salvador Yes No limit 91.7 0.20 Yes 6 25 100 Yes Yes 11.0 Yes No No No No No No No 0.0 22.9 Equatorial Guinea Yes 24 279.0 0.13 Yes 6 25 50 Yes Yes 22.0 Yes Yes Yes Yes Yes No Yes Yes 4.3 34.3 Eritrea Yes No limit 0.0 0.00 Yes 6 0 0 No No 19.0 Yes No No Yes Yes No No No 3.1 12.3 Estonia Yes 120 389.5 0.21 Yes 5 25 0 Yes No 24.0 Yes No No No No Yes Yes No 8.6 4.3 Ethiopia Yes No limit 0.0 0.00 Yes 6 0 0 No No 18.3 Yes No No Yes No Yes Yes No 8.7 10.5 Fiji No No limit 304.2 0.66 Yes 6 3 100 No No 10.0 Yes Yes No Yes No No No No 4.3 5.3 Finland Yes 60 1,983.8 0.32 Yes 6 8 100 No No 30.0 Yes Yes No Yes No Yes Yes Yes 10.1 0.0 France Yes 18 782.3 0.14 No 6 0 0 No Yes 30.0 Yes No No Yes No Yes Yes Yes 7.2 4.6 Gabon No 48 66.7 0.06 Yes 6 50 100 No No 24.0 Yes Yes Yes Yes Yes No Yes Yes 10.4 4.3 Gambia, The No No limit 0.0 0.00 Yes 5 0 0 No No 21.0 Yes Yes No Yes No No Yes Yes 26.0 0.0 Georgia No No limit 21.7 0.06 Yes 7 0 0 No No 24.0 Yes No No No No No No No 0.0 4.3 Germany No 24 1,126.1 0.20 Yes 6 13 100 No No 24.0 Yes Yes No Yes No Yes Yes No 10.0 11.6 Ghana No No limit 29.7 0.15 Yes 5 0 0 No No 15.0 Yes Yes Yes Yes Yes No No No 3.6 46.2 Greece Yes No limit 672.2 0.21 Yes 5 25 75 No Yes 22.3 Yes No No Yes Yes No Yes No 0.0 15.9 Grenada Yes No limit 355.9 0.39 Yes 6 0 0 No No 13.3 Yes No No No No No No No 7.2 5.3 Guatemala Yes No limit 325.3 0.74 Yes 6 0 50 Yes Yes 15.0 Yes No No No No No No No 0.0 27.0 Guinea No 24 0.0 0.00 Yes 6 20 45 No Yes 30.0 Yes Yes No Yes Yes No No No 2.1 5.8 DOING BUSINESS 2013 Guinea-Bissau Yes 12 0.0 0.00 Yes 6 25 50 No No 21.0 Yes Yes Yes Yes Yes No Yes Yes 0.0 26.0 Guyana No No limit 0.0 0.00 Yes 7 0 100 No No 12.0 Yes Yes No Yes No No No No 4.3 12.3 Haiti No No limit 122.5 1.26 Yes 6 50 50 No No 13.0 Yes No No No No No No No 10.1 0.0 Honduras Yes 24 396.9 1.44 Yes 6 25 100 Yes No 16.7 Yes Yes Yes Yes Yes No Yes No 7.2 23.1 Hong Kong SAR, No No limit 0.0 0.00 Yes 6 0 0 No No 10.3 Yes No No No No No No No 4.3 1.5 China 210 211 EMPLOYING WORKERS DATA Employing workers data Difficulty of hiring index Rigidity of hours index Difficulty of redundancy index Redundancy cost Fixed-term contracts prohibited Priority rules for redundancies? Maximum length of fixed-term Severance pay for redundancy Minimum wage for a 19-year- 50-hour workweek allowed?c Notice period for redundancy Premium for work on weekly Dismissal due to redundancy Retraining or reassignment?f old worker or an apprentice dismissal (weeks of salary)e dismissal (weeks of salary)e Ratio of minimum wage to rest day (% of hourly pay)d on weekly holiday work?d 9 workers are dismissed? 9 workers are dismissed? Third-party notification if Third-party notification if Maximum working days Premium for night work value added per worker 1 worker is dismissed? 1 worker is dismissed? Third-party approval if Third-party approval if for permanent tasks? contracts (months)a (% of hourly pay)d Paid annual leave Major restrictions Major restrictions allowed by law? Priority rules for on night work?d reemployment? (working days)e (US$/month)b per week Hungary No 60 447.1 0.29 No 5 40 100 No No 21.3 Yes No No No No No No No 6.2 7.2 Iceland No 24 1,527.3 0.35 Yes 6 80 80 No No 24.0 Yes No No No No No No No 10.1 0.0 India No No limit 29.7 0.16 Yes 6 0 0 No No 15.0 Yes Yes Yes Yes Yes No Yes Yes 4.3 11.4 Indonesia Yes 36 151.0 0.42 Yes 6 0 0 No No 12.0 Yes Yes Yes Yes Yes Yes No No 0.0 57.8 Iran, Islamic Rep. No No limit 344.6 0.47 Yes 6 23 40 No No 24.0 Yes Yes Yes Yes Yes No No No 0.0 23.1 Iraq Yes No limit 79.7 0.20 Yes 6 0 50 Yes No 22.0 Yes Yes No Yes No No No No 0.0 0.0 Ireland No No limit 1,659.3 0.34 Yes 6 0 0 No No 20.0 Yes Yes No Yes No No No No 4.0 2.8 Israel No No limit 1,087.8 0.28 Yes 5.5 14 50 No Yes 18.0 Yes No No No No No No No 4.3 23.1 Italy No 44 1,787.3 0.40 Yes 6 15 50 Yes No 20.3 Yes No No Yes No Yes Yes Yes 7.2 0.0 Jamaica No No limit 210.5 0.32 Yes 6 0 100 No No 11.7 Yes No No No No No No No 4.0 10.0 Japan No No limit 1,726.9 0.29 Yes 6 25 35 No No 15.3 Yes Yes No Yes No Yes No No 4.3 0.0 Jordan No No limit 199.6 0.32 Yes 6 0 150 No No 18.7 Yes Yes Yes Yes Yes No No Yes 4.3 0.0 Kazakhstan No No limit 0.1 0.00 Yes 6 50 100 No No 18.0 Yes Yes No Yes No Yes No No 4.3 4.3 Kenya No No limit 111.1 0.89 Yes 6 0 0 No No 21.0 Yes Yes No Yes No No Yes No 4.3 11.4 Kiribati No No limit 0.0 0.00 Yes 7 0 0 No No 0.0 Yes Yes Yes Yes Yes No No No 4.3 0.0 Korea, Rep. No 24 648.3 0.27 Yes 6 50 50 Yes No 17.0 Yes Yes No Yes No No No Yes 4.3 23.1 Kosovo No No limit 172.4 0.16 No 6 30 0 No No 21.0 Yes No No No No Yes Yes Yes 4.3 7.2 Kuwait No No limit 217.5 0.04 Yes 6 0 50 No Yes 30.0 Yes No No No No No No No 13.0 15.1 Kyrgyz Republic Yes 60 15.0 0.13 Yes 6 50 100 No No 20.0 Yes No No No No No No No 4.3 13.0 Lao PDR No No limit 72.0 0.48 Yes 6 15 150 No No 15.0 Yes Yes Yes Yes Yes No No No 6.4 40.7 Latvia Yes 36 384.5 0.25 Yes 5.5 50 0 Yes No 20.0 Yes No No No No Yes Yes No 1.0 8.7 Lebanon No 24 432.6 0.39 Yes 6 0 50 No No 15.0 Yes No No Yes No No Yes Yes 8.7 0.0 Lesotho No No limit 105.1 0.61 Yes 6 0 100 Yes No 12.0 Yes No No No No No No No 4.3 10.7 Liberia No No limit 52.0 1.40 Yes 6 0 50 No No 16.0 Yes Yes No Yes No No Yes Yes 4.3 21.3 Employing workers data Difficulty of hiring index Rigidity of hours index Difficulty of redundancy index Redundancy cost Fixed-term contracts prohibited Priority rules for redundancies? Maximum length of fixed-term Severance pay for redundancy Minimum wage for a 19-year- 50-hour workweek allowed?c Notice period for redundancy Premium for work on weekly Dismissal due to redundancy Retraining or reassignment?f old worker or an apprentice dismissal (weeks of salary)e dismissal (weeks of salary)e Ratio of minimum wage to rest day (% of hourly pay)d on weekly holiday work?d 9 workers are dismissed? 9 workers are dismissed? Third-party notification if Third-party notification if Maximum working days Premium for night work value added per worker 1 worker is dismissed? 1 worker is dismissed? Third-party approval if Third-party approval if for permanent tasks? contracts (months)a (% of hourly pay)d Paid annual leave Major restrictions Major restrictions allowed by law? Priority rules for on night work?d reemployment? (working days)e (US$/month)b per week Lithuania No 60 307.0 0.21 No 5.5 50 100 No No 20.7 Yes No No No No Yes Yes No 8.7 15.9 Luxembourg Yes 24 2,374.4 0.25 No 5.5 15 70 No Yes 25.0 Yes Yes No Yes No No No Yes 17.3 4.3 Macedonia, FYR No 60 168.4 0.30 Yes 6 35 50 Yes No 20.0 Yes No No Yes No No No No 4.3 8.7 Madagascar Yes 24 41.4 0.63 Yes 6 30 40 No No 24.0 Yes No No Yes Yes No Yes Yes 3.4 8.9 Malawi Yes No limit 28.6 0.52 Yes 6 0 100 No No 18.0 Yes Yes No Yes No No No No 4.3 12.3 Malaysia No No limit 0.0 0.00 Yes 6 0 0 No No 13.3 Yes No No Yes No No No No 6.7 17.2 Maldives No 24 0.0 0.00 Yes 6 0 50 No No 30.0 Yes No No No No No No No 5.8 0.0 Mali Yes 72 14.4 0.14 Yes 6 0 0 No No 22.0 Yes Yes No Yes No No Yes Yes 4.3 9.3 Malta No 48 953.3 0.39 No 6 0 0 No No 24.0 Yes No No No No No Yes Yes 7.3 0.0 Marshall Islands No No limit 0.0 0.00 Yes 7 0 0 No No 0.0 Yes No No No No No No No 0.0 0.0 Mauritania No 24 68.9 0.48 Yes 6 100 50 Yes No 18.0 Yes Yes No Yes No No Yes Yes 4.3 6.1 Mauritius No No limit 166.3 0.17 Yes 6 0 100 No No 22.0 Yes Yes No Yes No No No No 4.3 6.3 Mexico Yes No limit 121.4 0.10 Yes 6 0 25 Yes No 12.0 Yes Yes Yes Yes Yes No Yes Yes 0.0 22.0 Micronesia, Fed. Sts. No No limit 271.7 0.68 Yes 7 0 0 No No 0.0 Yes No No No No No No No 0.0 0.0 Moldova Yes No limit 87.4 0.38 Yes 6 50 100 Yes Yes 20.0 Yes Yes No Yes No Yes Yes No 8.7 13.9 Mongolia No No limit 91.9 0.32 Yes 5 0 50 No No 16.0 Yes No No No No No No No 4.3 4.3 Montenegro No 24 294.8 0.34 Yes 6 40 0 No No 21.0 Yes No No No No Yes Yes No 4.3 6.9 Morocco Yes 12 272.7 0.74 Yes 6 0 0 No Yes 19.5 Yes No No Yes Yes Yes Yes Yes 7.2 13.5 Mozambique Yes 72 108.6 1.46 Yes 6 0 100 No Yes 24.0 Yes Yes No Yes No No No No 4.3 33.2 DOING BUSINESS 2013 Namibia No No limit 0.0 0.00 Yes 6 6 100 No Yes 20.0 Yes Yes No Yes No No No No 4.3 5.3 Nepal Yes No limit 74.7 1.00 Yes 6 0 50 No No 18.0 Yes Yes Yes Yes Yes No Yes Yes 4.3 22.9 Netherlands No 36 1,036.8 0.17 Yes 5.5 0 0 Yes Yes 20.0 Yes Yes Yes Yes Yes Yes Yes No 8.7 0.0 New Zealand No No limit 1,851.3 0.40 Yes 7 0 0 No No 20.0 Yes No No No No Yes No No 0.0 0.0 Nicaragua No No limit 137.2 0.86 Yes 6 0 100 Yes Yes 30.0 Yes No No No No No No No 0.0 14.9 212 213 EMPLOYING WORKERS DATA Employing workers data Difficulty of hiring index Rigidity of hours index Difficulty of redundancy index Redundancy cost Fixed-term contracts prohibited Priority rules for redundancies? Maximum length of fixed-term Severance pay for redundancy Minimum wage for a 19-year- 50-hour workweek allowed?c Notice period for redundancy Premium for work on weekly Dismissal due to redundancy Retraining or reassignment?f old worker or an apprentice dismissal (weeks of salary)e dismissal (weeks of salary)e Ratio of minimum wage to rest day (% of hourly pay)d on weekly holiday work?d 9 workers are dismissed? 9 workers are dismissed? Third-party notification if Third-party notification if Maximum working days Premium for night work value added per worker 1 worker is dismissed? 1 worker is dismissed? Third-party approval if Third-party approval if for permanent tasks? contracts (months)a (% of hourly pay)d Paid annual leave Major restrictions Major restrictions allowed by law? Priority rules for on night work?d reemployment? (working days)e (US$/month)b per week Niger Yes 24 58.5 0.95 No 6 38 0 No No 22.0 Yes Yes No Yes No Yes Yes Yes 4.3 5.8 Nigeria No No limit 106.5 0.57 Yes 6 0 0 No No 20.0 Yes No No Yes No No Yes No 4.0 12.2 Norway Yes 48 3,893.4 0.35 Yes 6 0 0 Yes Yes 21.0 Yes No No No No Yes Yes Yes 8.7 0.0 Oman No No limit 520.1 0.19 Yes 5 50 100 No No 22.0 Yes No No No No No No No 4.3 0.0 Pakistan Yes 9 36.7 0.24 Yes 6 0 100 No Yes 14.0 Yes No No No No Yes Yes Yes 4.3 22.9 Palau No No limit 525.9 0.55 Yes 7 0 0 No No 0.0 Yes No No No No No No No 0.0 0.0 Panama Yes 12 438.6 0.43 Yes 6 0 50 Yes Yes 22.0 Yes Yes Yes Yes Yes No Yes No 0.0 18.1 Papua New Guinea No No limit 115.4 0.55 Yes 6 0 0 No No 11.0 Yes No No No No No No No 3.3 9.2 Paraguay Yes No limit 198.7 0.50 Yes 6 30 100 Yes No 20.0 Yes Yes Yes Yes Yes No No Yes 7.5 18.6 Peru Yes 60 253.2 0.35 Yes 6 35 100 No No 13.0 Yes Yes Yes Yes Yes No No Yes 0.0 11.4 Philippines Yes No limit 192.5 0.64 Yes 6 10 30 No No 5.0 Yes Yes No Yes No No Yes No 4.3 23.1 Poland No No limit 390.7 0.27 Yes 6 20 100 No No 22.0 Yes No No No No Yes Yes Yes 10.1 8.7 Portugal Yes 54 775.5 0.29 Yes 6 25 100 No Yes 22.0 Yes Yes No Yes No Yes Yes Yes 7.9 26.0 Puerto Rico (U.S.) No No limit 1,256.7 0.57 Yes 7 0 100 No No 15.0 Yes No No No No No Yes Yes 0.0 0.0 Qatar No No limit 0.0 0.00 Yes 6 0 0 No No 22.0 Yes No No No No No No No 7.2 16.0 Romania Yes 36 216.4 0.23 Yes 5 25 100 No No 20.0 Yes No No No No Yes Yes Yes 4.0 0.0 Russian Federation Yes 60 325.6 0.27 Yes 6 20 100 No No 22.0 Yes Yes No Yes No Yes Yes No 8.7 8.7 Rwanda No No limit 0.0 0.00 Yes 6 0 0 No No 19.3 Yes Yes No Yes No No Yes No 4.3 8.7 Samoa No No limit 167.5 0.36 Yes 6 0 100 No No 10.0 Yes No No No No No No No 5.8 0.0 São Tomé and Yes 36 0.0 0.00 No 6 25 100 No Yes 26.0 Yes Yes Yes Yes Yes No No Yes 4.3 26.0 Príncipe Saudi Arabia No No limit 0.0 0.00 Yes 6 0 50 No No 20.7 Yes No No No No No No No 4.3 15.2 Senegal Yes 24 74.6 0.45 Yes 6 38 0 No Yes 24.3 Yes Yes No Yes No Yes Yes Yes 3.2 10.5 Serbia Yes 12 203.8 0.29 Yes 6 26 26 No No 20.0 Yes No No No No Yes No Yes 0.0 7.7 Seychelles Yes No limit 349.8 0.24 Yes 6 0 100 No No 21.0 Yes Yes Yes Yes Yes No No No 4.3 9.1 Employing workers data Difficulty of hiring index Rigidity of hours index Difficulty of redundancy index Redundancy cost Fixed-term contracts prohibited Priority rules for redundancies? Maximum length of fixed-term Severance pay for redundancy Minimum wage for a 19-year- 50-hour workweek allowed?c Notice period for redundancy Premium for work on weekly Dismissal due to redundancy Retraining or reassignment?f old worker or an apprentice dismissal (weeks of salary)e dismissal (weeks of salary)e Ratio of minimum wage to rest day (% of hourly pay)d on weekly holiday work?d 9 workers are dismissed? 9 workers are dismissed? Third-party notification if Third-party notification if Maximum working days Premium for night work value added per worker 1 worker is dismissed? 1 worker is dismissed? Third-party approval if Third-party approval if for permanent tasks? contracts (months)a (% of hourly pay)d Paid annual leave Major restrictions Major restrictions allowed by law? Priority rules for on night work?d reemployment? (working days)e (US$/month)b per week Sierra Leone Yes No limit 37.3 0.73 Yes 5 15 100 No No 21.3 Yes Yes No Yes No Yes Yes Yes 8.7 69.6 Singapore No No limit 0.0 0.00 Yes 6 0 100 No No 10.7 Yes No No No No No No No 3.0 0.0 Slovak Republic No 36 447.5 0.24 Yes 6 20 0 No No 25.0 Yes No No No No Yes No No 11.6 0.0 Slovenia Yes 24 1,054.8 0.37 Yes 6 50 50 No Yes 21.0 Yes No No No No Yes Yes Yes 5.7 5.7 Solomon Islands No No limit 111.9 0.69 Yes 6 0 0 No No 15.0 Yes Yes No Yes No No No No 4.3 10.7 South Africa Yes No limit 621.6 0.70 Yes 6 0 100 Yes No 15.0 Yes Yes No Yes No Yes No No 4.0 5.3 Spain Yes No limit 1,022.9 0.27 Yes 5.5 25 0 Yes No 22.0 Yes Yes No Yes No No No No 2.1 15.2 Sri Lanka No No limit 40.2 0.12 Yes 5.5 0 50 No Yes 14.0 Yes Yes Yes Yes Yes No Yes No 4.3 54.2 St. Kitts and Nevis No No limit 501.5 0.31 Yes 7 0 0 No No 14.0 Yes No No No No No No Yes 8.7 0.0 St. Lucia No No limit 0.0 0.00 Yes 6 0 150 No No 21.0 Yes No No No No No No No 3.7 9.3 St. Vincent and No No limit 191.2 0.25 Yes 6 0 0 No No 19.3 Yes No No Yes No No No Yes 4.0 10.0 the Grenadines Sudan No 48 75.0 0.26 Yes 6 0 0 No No 23.3 Yes Yes Yes Yes Yes No No No 4.3 21.7 Suriname No No limit 0.0 0.00 Yes 6 0 100 No No 16.0 Yes Yes Yes Yes Yes No No No 0.0 8.8 Swaziland No No limit 96.3 0.21 Yes 5.5 0 0 No No 11.0 Yes No No Yes No No Yes No 5.9 8.7 Sweden No 24 0.0 0.00 Yes 5.5 0 0 No Yes 25.0 Yes No No Yes No Yes Yes Yes 14.4 0.0 Switzerland No 120 0.0 0.00 Yes 6 0 0 No No 20.0 Yes No No No No No No No 10.1 0.0 Syrian Arab Republic No 60 209.7 0.54 Yes 6 0 100 No Yes 21.7 Yes Yes Yes Yes Yes No No No 8.7 0.0 Taiwan, China Yes 12 621.5 0.26 Yes 6 0 100 No No 12.0 Yes Yes No Yes No Yes No Yes 3.8 18.8 Tajikistan Yes No limit 16.4 0.14 No 6 50 100 Yes No 23.3 Yes Yes No Yes No Yes Yes No 8.7 6.9 DOING BUSINESS 2013 Tanzania Yes No limit 52.5 0.61 Yes 6 5 100 No No 20.0 Yes Yes Yes Yes Yes No No No 4.0 5.3 Thailand Yes No limit 117.9 0.23 Yes 6 0 0 No No 6.0 Yes No No No No No No No 4.3 31.7 Timor-Leste Yes 36 0.0 0.00 Yes 6 25 100 No No 12.0 Yes Yes No Yes No No No No 4.3 0.0 Togo Yes 48 71.7 0.88 Yes 6 200 65 No No 30.0 Yes Yes No Yes No No Yes Yes 4.3 8.8 Tonga No No limit 0.0 0.00 Yes 6 0 0 No Yes 0.0 Yes No No No No No No No 0.0 0.0 214 215 EMPLOYING WORKERS DATA Employing workers data Difficulty of hiring index Rigidity of hours index Difficulty of redundancy index Redundancy cost Fixed-term contracts prohibited Priority rules for redundancies? Maximum length of fixed-term Severance pay for redundancy Minimum wage for a 19-year- 50-hour workweek allowed?c Notice period for redundancy Premium for work on weekly Dismissal due to redundancy Retraining or reassignment?f old worker or an apprentice dismissal (weeks of salary)e dismissal (weeks of salary)e Ratio of minimum wage to rest day (% of hourly pay)d on weekly holiday work?d 9 workers are dismissed? 9 workers are dismissed? Third-party notification if Third-party notification if Maximum working days Premium for night work value added per worker 1 worker is dismissed? 1 worker is dismissed? Third-party approval if Third-party approval if for permanent tasks? contracts (months)a (% of hourly pay)d Paid annual leave Major restrictions Major restrictions allowed by law? Priority rules for on night work?d reemployment? (working days)e (US$/month)b per week Trinidad and Tobago No No limit 0.0 0.00 Yes 6 0 100 No No 10.0 Yes No No Yes No No Yes No 6.4 14.1 Tunisia No 48 119.6 0.25 Yes 6 0 100 No No 13.0 Yes Yes Yes Yes Yes Yes Yes Yes 4.3 7.8 Turkey Yes No limit 529.7 0.41 Yes 6 0 100 Yes No 18.0 Yes No No No No Yes No Yes 6.7 23.1 Uganda No No limit 2.7 0.03 Yes 6 0 0 No No 21.0 Yes No No No No No No No 8.7 0.0 Ukraine Yes No limit 119.1 0.32 No 5.5 20 100 No No 18.0 Yes Yes No Yes No Yes Yes Yes 8.7 4.3 United Arab Emirates No No limit 0.0 0.00 Yes 6 0 50 No Yes 26.0 Yes No No No No No No No 4.3 0.0 United Kingdom No No limit 1,338.2 0.28 Yes 6 0 0 No No 28.0 Yes No No No No No No No 5.3 3.0 United States No No limit 1,245.5 0.21 Yes 6 0 0 No No 0.0 Yes No No No No No No No 0.0 0.0 Uruguay Yes No limit 355.9 0.23 Yes 6 0 100 No No 21.0 Yes No No No No No No No 0.0 20.8 Uzbekistan Yes 60 34.4 0.18 Yes 6 50 100 Yes No 15.0 Yes No No Yes No Yes Yes No 8.7 8.7 Vanuatu No No limit 264.8 0.65 Yes 6 75 50 No No 15.0 Yes No No No No No No No 9.3 23.1 Venezuela, RBg Yes 24 301.1 0.20 Yes 6 30 50 Yes No 19.3 No n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. Vietnam No 72 64.5 0.43 Yes 6 30 100 No No 13.0 Yes No No Yes Yes Yes Yes No 0.0 24.6 West Bank and Gaza No 24 0.0 0.00 Yes 6 0 150 Yes Yes 18.0 Yes Yes No Yes No No No No 4.3 23.1 Yemen, Rep. No No limit 78.9 0.47 Yes 6 15 100 No No 30.0 Yes Yes No Yes No No No Yes 4.3 23.1 Zambia No No limit 75.8 0.40 Yes 5.5 4 100 No No 24.0 Yes Yes No Yes No No No No 4.3 46.2 Zimbabwe No No limit 167.4 1.80 Yes 6 15 100 Yes No 22.0 Yes Yes Yes Yes Yes Yes No No 13.0 69.3 a. Including renewals. b. Economies for which 0.0 is shown have no minimum wage. c. For 2 months a year in case of a seasonal increase in production. d. In case of continuous operations. e. Average for workers with 1, 5 and 10 years of tenure. f. Whether compulsory before redundancy. g. Some answers are not applicable (“n.a.”) for economies where dismissal due to redundancy is disallowed. Source: Doing Business database. 216 Acknowledgments Doing Business would not be possible Heider, Vijay Iyer, Karina Izaguirre, without the expertise and generous input Melissa Johns, Lisa Kaestner, Arvo Kuddo, of a network of more than 9,600 local Sumir Lal, Giuseppe Larossi, Anne-Marie partners, including legal experts, business Leroy, Oscar Madeddu, Marie Francoise consultants, accountants, freight for- Marie-Nelly, Andres Federico Martinez, warders, government officials and other Philippe De Meneval, Riz Mokal, Marcin professionals routinely administering or Piatkowski, Mohammad Zia M. Qureshi, advising on the relevant legal and regula- Fanja Sahondraniaina Ravoavy, Susan tory requirements in the 185 economies Razzaz, Maria Camila Roberts, Michal covered. Contact details for local partners Rutkowski, Shalini Sankaranarayanan, are available on the Doing Business web- Massimiliano Santini, Jordan Schwartz, site at http://www.doingbusiness.org. Peter Sheerin, Victoria Stanley, Rodrigo de Jesus Suescun, Mark Sundberg, The online service of the Doing Business Stoyan Tenev, Axel van Trotsenburg, database is managed by Andres Baquero Mahesh Uttamchandani, Tunc Uyanic, Franco, Varun Doiphode, Graeme Littler, Jan Walliser, Wendy Jo Werner and Grace Kunal Patel, Mohan Pathapati, Vinod M. Yabrudy. Thottikkatu and Hashim Zia under the direction of Preeti Endlaw. The Doing The paying taxes project was conducted Business 2013 report media and marketing in collaboration with PwC, led by John strategy is managed by Nadine Ghannam. Preston. The development of the getting The events and road-show strategy is electricity indicators was financed by managed by Sushmitha Malini Narsiah. the Norwegian Trust Fund. The APEC Secretariat commented on the APEC The team is grateful for valuable com- case study. Jonathan Bailey, Omowunmi ments provided by colleagues across the Ladipo and César Chaparro Yedro com- World Bank Group and for the guidance mented on the Rwanda case study. Aart of World Bank Group Executive Directors. C. Kraay and Alejandro Ponce comment- It would especially like to acknowledge ed on the case study on the transparency the comments and guidance of Aart C. of business regulation. Kraay. Comments were also received from Ali Abukumail, Hormoz Aghdaey, Alison Strong copyedited the manuscript. Pedro Alba, Alejandro Alvarez de la Corporate Visions, Inc. designed the re- Campa, Inger Anderson, Nabila Assaf, port and the graphs. Simon Bell, Najy Benhassine, Alexander Berg, Tony Bigio, Christopher Bleakley, Quotations in this report are from Doing Frank Fulgence K. Byamugisha, Otaviano Business local partners unless otherwise Canuto, Kevin Carey, Guang Zhe Chen, indicated. The names of those wishing to Pamela Cox, Boris Divjak, Grahame Dixie, be acknowledged individually are listed Delores Elliot, Fabrizio Fraboni, Jose Maria below. The global and regional contribu- Garrido, Frederico Gil Sander, Indermit S. tors listed are firms that have completed Gill, Eva M. Gutierrez, Mary Hallward- multiple surveys in their various offices Driemeier, Marek Hanusch, Caroline around the world. ACKNOWLEDGMENTS 217 GLOBAL CONTRIBUTORS Ledia Beçi Aigest Milo Mohamed Dhif ADVOCATES FOR INTERNATIONAL DEVELOPMENT HOXHA, MEMI & HOXHA KALO & ASSOCIATES CENTRE NATIONAL DU REGISTRE DU COMMERCE ALLEN & OVERY LLP Alban Bello Blerta Nesho KPMG ALBANIA SHPK WOLF THEISS Said Dib AMERICAN BAR ASSOCIATION, SECTION OF INTERNATIONAL LAW BANQUE D’ALGÉRIE Jona Bica Loreta Peci BAKER & MCKENZIE KALO & ASSOCIATES PWC ALBANIA Nicolas Granier CLEARY GOTTLIEB STEEN & HAMILTON LLP LANDWELL & ASSOCIÉS Artan Bozo Florian Piperi ERNST & YOUNG BOZO & ASSOCIATES LAW FIRM OPTIMA LEGAL AND FINANCIAL Ould Hocine STUDIO A IUS LABORIS, ALLIANCE OF LABOR, EMPLOYMENT, BENEFITS AND PENSIONS LAW FIRMS Jonida Braja Melani Artila Rama WOLF THEISS BOGA & ASSOCIATES TIRANA Goussanem Khaled KPMG LAW FIRM GOUSSANEM & ALOUI Alban Caushi Loriana Robo LAW SOCIETY OF ENGLAND AND WALES KALO & ASSOCIATES KALO & ASSOCIATES Arezki Khelout LEX MUNDI, ASSOCIATION OF INDEPENDENT LAW FIRMS MINISTÈRE DES FINANCES - DIRECTION Sajmir Dautaj Anisa Rrumbullaku GÉNÉRALE DU DOMAINE NATIONAL PANALPINA TONUCCI & PARTNERS KALO & ASSOCIATES Maya Laichoubi PWC1 Eniana Dupi Ergis Sefa GHELLAL & MEKERBA AECO CONSULTING ERG MANAGERIAL RAPOSO BERNARDO & ASSOCIADOS Mohamed Lanouar Erinda Duraj Enkelejd Seitllari RUSSELL BEDFORD INTERNATIONAL LEFÈVRE PELLETIER & ASSOCIÉS BOZO & ASSOCIATES LAW FIRM KALO & ASSOCIATES SDV INTERNATIONAL LOGISTICS Karine Lasne Sokol Elmazaj Ardjana Shehi LANDWELL & ASSOCIÉS SECURITY CARGO NETWORK BOGA & ASSOCIATES TIRANA KALO & ASSOCIATES Vincent Lunel Alba Fagu Elda Shuraja LEFÈVRE PELLETIER & ASSOCIÉS REGIONAL CONTRIBUTORS BANK OF ALBANIA HOXHA, MEMI & HOXHA A.P. MOLLER-MAERSK GROUP Bournissa Mehdi Lavdimir Fusha Majlinda Sulstarova LANDWELL & ASSOCIÉS ASSOCIATION OF CONSUMER CREDIT INFORMATION SUPPLIERS (ACCIS) ALB BB AUDITING SHPK - TONUCCI & PARTNERS CORRESPONDENT OF RUSSELL BEDFORD Sid-Ahmed Mekerba CABINET JOHN W. FFOOKS & CO. Besa Tauzi INTERNATIONAL GHELLAL & MEKERBA BOGA & ASSOCIATES TIRANA GLOBALINK TRANSPORTATION & LOGISTICS WORLDWIDE LLP Lisjana Fusha Mohamed Mokrane Paul Tobin GRATA LAW FIRM ALB BB AUDITING SHPK - MINISTÈRE DES FINANCES - DIRECTION PWC BULGARIA CORRESPONDENT OF RUSSELL BEDFORD GÉNÉRALE DU DOMAINE NATIONAL JONES LANG LASALLE INTERNATIONAL Ketrin Topçiu Fares Ouzegdouh SALANS INTERNATIONAL LAW FIRM BOZO & ASSOCIATES LAW FIRM Aurela Gjokutaj TRANSPORT PORT LOGISTICS & AL-TAX STUDIO Ened Topi SOLUTIONS TALAL ABU GHAZALEH LEGAL (TAG-LEGAL) BOGA & ASSOCIATES TIRANA Eduart Gjokutaj Ahmed Rahou TRANSUNION INTERNATIONAL AL-TAX STUDIO Fioralba Trebicka MINISTÈRE DES FINANCES - DIRECTION HOXHA, MEMI & HOXHA GÉNÉRALE DU DOMAINE NATIONAL AFGHANISTAN Gaurav Lekh Raj Kukreja Shirli Gorenca AFGHAN CONTAINER TRANSPORT KALO & ASSOCIATES Alketa Uruçi Mourad Seghir Mirza Taqi Ud Din Ahmad COMPANY BOGA & ASSOCIATES TIRANA GHELLAL & MEKERBA A.F. FERGUSON & CO., CHARTERED Luan Gosnishti ACCOUNTANTS, A MEMBER FIRM OF Ghulam Rabani Mansoori ALB BB AUDITING SHPK - Gerhard Velaj Mohamed Smati PWC NETWORK AFGHANISTAN INVESTMENT SUPPORT CORRESPONDENT OF RUSSELL BEDFORD BOGA & ASSOCIATES TIRANA AVOCAT AGENCY INTERNATIONAL Naseem Akbar Silva Velaj Benabid Mohammed Tahar AFGHANISTAN INVESTMENT SUPPORT Tali Mohammed Mateo Gosnishti BOGA & ASSOCIATES TIRANA CABINET MOHAMMED TAHAR BENABID AGENCY AFGHANISTAN INVESTMENT SUPPORT ALB BB AUDITING SHPK - Aspasi Xhori AGENCY CORRESPONDENT OF RUSSELL BEDFORD ANGOLA Mirwais Alami CEZ SHPERNDARJE SH.A DA AFGHANISTAN BRESHNA SHERKAT INTERNATIONAL Shekeeb Nessar ERNST & YOUNG Selena Ymeri DA AFGHANISTAN BRESHNA SHERKAT Emel Haxhillari Zabiullah Amin HOXHA, MEMI & HOXHA LOURDES CAPOSSO FERNANDES & PSD CLUSTER KALO & ASSOCIATES Ateequlah Nosher ASSOCIADOS Enida Zeneli DA AFGHANISTAN BANK Blerina Hilaj Ziaullah Astana BOZO & ASSOCIATES LAW FIRM Alexandre Caldas Menezes AFGHAN LAND CONSULTING A&B BUSINESS CONSULTING Gul Pacha CALDAS MENEZES ORGANIZATION (ALCO) AFGHANISTAN INVESTMENT SUPPORT Shpati Hoxha ALGERIA Pedro Calixto AGENCY HOXHA, MEMI & HOXHA Nadia Bazidwal Branka Achari-Djokic PWC ANGOLA MINISTRY OF COMMERCE AND INDUSTRY Tamsil Rashid Elona Hoxhaj BANQUE D’ALGÉRIE Anacleta Cipriano AFGHANISTAN INTERNATIONAL BANK BOGA & ASSOCIATES TIRANA Abdullah Dowrani Salima Aloui FBL ADVOGADOS FINANCIAL DISPUTES RESOLUTION Abdul Rahim Saeedi Xhet Hushi LAW FIRM GOUSSANEM & ALOUI Miguel Conceição COMMISSION (FDRC) MINISTRY OF COMMERCE AND INDUSTRY KALO & ASSOCIATES Mohamed Atbi RGT- ADVOGADOS ASSOCIADOS Suleman Fatimie Khalil Sediq Evis Jani ETUDE NOTARIALE MOHAMED ATBI Miguel de Avillez Pereira AFGHANISTAN FINANCIAL SERVICES, LLC AFGHANISTAN INTERNATIONAL BANK DRAKOPOULOS LAW FIRM Djamila Azzouz ABREU ADVOGADOS Amanda Galton Sharifullah Shirzad Evandro Janka CABINET D’AUDIT AZZOUZ - Patricia Dias ORRICK, HERRINGTON & SUTCLIFFE LLP DA AFGHANISTAN BANK BOZO & ASSOCIATES LAW FIRM CORRESPONDENT OF RUSSELL BEDFORD AVM ADVOGADOS Abdul Hanan INTERNATIONAL Najibullah Wardak Ilir Johollari Beatriz Ferreira de Andrade dos AFGHAN LAND CONSULTING LARA HOXHA, MEMI & HOXHA Salim Azzouz Santos ORGANIZATION (ALCO) CABINET D’AUDIT AZZOUZ - Mohammadi Khan Yaqoobi Sabina Lalaj BANCO NACIONAL DE ANGOLA CORRESPONDENT OF RUSSELL BEDFORD Rashid Ibrahim DA AFGHANISTAN BANK BOGA & ASSOCIATES TIRANA A.F. 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Agostini ASOCIACIÓN NACIONAL DEL CAFÉ Konstantinos Nanopoulos Guillermo Bonillo APIP AGOSTINI W.R. FCCA TAXEXPERTS María Isabel Luján Zilbermann BONILLA, MONTANO, TORIELLO & Lousseny Cisse James Bristol QUIÑONES, IBARGÜEN, LUJÁN & Anthony Narlis BARRIOS TRANSCO SA & AQUA MARINE SA HENRY, HENRY & BRISTOL MATA S.C. CALBERSON SA Jean Paul Brichaux John Delahaye Ruggles Ferguson Víctor Manuel Mancilla Castro Kyriakos Oikonomou ASOCIACIÓN DE EXPORTADORES DE SOCOPAO - SDV CIBONEY CHAMBERS SUPERINTENDENCIA DE BANCOS MINISTRY OF JUSTICE CAFÉ (ADEC) Ahmadou Diallo Cyrus Griffith Marco Antonio Martinez Panayis Panagiotopoulos Mario Adolfo Búcaro Flores CHAMBRE DES NOTAIRES LABOUR DEPARTMENT CPS LOGISTICS KREMMYDAS-DORIS & ASSOCIATES DÍAZ-DURÁN & ASOCIADOS CENTRAL LAW Djenabou Diallo LAW FIRM Annette Henry Estuardo Mata Palmieri TRANSCO SA & AQUA MARINE SA MINISTRY OF LEGAL AFFAIRS QUIÑONES, IBARGÜEN, LUJÁN & Elena Papachristou Rodrigo Callejas Aquino MATA S.C. Mohamed Kadialiou Diallo ZEPOS & YANNOPOULOS LAW FIRM, Keith Hosten CARRILLO & ASOCIADOS ELECTRICITÉ DE GUINÉE MEMBER OF LEX MUNDI HOSTEN’S (ELECTRICAL SERVICES) LTD. Eduardo Mayora Alvarado José Alfredo Cándido Durón MAYORA & MAYORA S.C. El Hajj Barry Djoudja Konstantinos Papadiamantis Winston Hosten SUPERINTENDENCIA DE BANCOS AICHFEET POTAMITISVEKRIS HOSTEN’S (ELECTRICAL SERVICES) LTD. Edgar Mendoza Juan Pablo Carrasco de Grote PWC GUATEMALA Adama Skel Fofana Alexios Papastavrou Christopher Husbands DÍAZ-DURÁN & ASOCIADOS CENTRAL POTAMITISVEKRIS NATIONAL WATER AND SEWAGE LAW Gonzalo Menendez Gonzalez Soukeina Fofana AUTHORITY LEXINCORP BANQUE CENTRALE DE GUINÉE Dimitris E. Paraskevas Ana Gisela Castillo Aparicio SARAVIA & MUÑOZ (BCRG) ELIAS PARASKEVAS ATTORNEYS 1933 Henry Joseph Christian Michelangeli PKF INTERNATIONAL CARRILLO & ASOCIADOS Juan Carlos Castillo Chacón AGUILAR CASTILLO LOVE 236 DOING BUSINESS 2013 Joachim Gbilimou GUYANA Marc Hebert Ignace Guadalupe Martinez Casas Michael Chiang Marcel Bobb BANQUE DE LA RÉPUBLIQUE D’HAITI CENTRAL LAW MEDINA, ROSENTHAL & MCAA LTD. Yannick Gui FRASER, HOUSTY & YEARWOOD ASOCIADOS ANY RAY PARTNERS Raphaël Izmery Stephanie Chiu ATTORNEYS-AT-LAW GBS GENERAL BUILDING SYSTEMS Claribel Medina MAYER BROWN JSM Abdel Aziz Kaba Ashton Chase CENTRAL LAW MEDINA, ROSENTHAL & TRANSCO SA & AQUA MARINE SA Luciner Joseph Robert Chu LAW OFFICE OF ASHTON CHASE ASOCIADOS MAIRIE DE PETIONVILLE ECONOMIC ANALYSIS AND BUSINESS Lansana Kaba ASSOCIATES Jesús Humberto Medina-Alva FACILITATION UNIT CARIG Robert Laforest Desmond Correia CENTRAL LAW MEDINA, ROSENTHAL & CABINET LAFOREST Tony Chu Mbalou Keita CORREIA & CORREIA LTD. ASOCIADOS VICTON REGISTRATIONS LTD. TRIBUNAL DE PREMIÈRE INSTANCE DE Camille Leblanc Lucia Desir-John Juan Carlos Mejía Cotto KALOUM CABINET LEBLANC & ASSOCIÉS Jimmy Chung D & J SHIPPING SERVICES INSTITUTO DE LA PROPIEDAD JAMES NGAI & PARTNERS CPA LIMITED Mariama Ciré Keita Diallo Ludwig Leblanc Marlon Gonsalves Iván Alfredo Vigíl Molina - MEMBER OF RUSSELL BEDFORD TRANSCO SA & AQUA MARINE SA CABINET LEBLANC & ASSOCIÉS RODRIGUES ARCHITECTS LTD. ABOGADO INTERNATIONAL Nounké Kourouma Wilhelm E. Lemke Jr. Orin Hinds Ricardo Montes Belot Vicky Chung ADMINISTRATION ET CONTRÔLE DES ENMARCOLDA (D’ADESKY) ORIN HINDS & ASSOCIATES ARCH. LTD. ARIAS & MUÑOZ GILT CHAMBERS GRANDS PROJETS Roberson Louis Teni Housty Ramón E. Morales Joshua Cole Avit Kpoghomou CABINET GASSANT FRASER, HOUSTY & YEARWOOD PWC HONDURAS MALLESONS STEPHEN JACQUES NIMBA CONSEIL SARL ATTORNEYS-AT-LAW Kathia Magloire Vanessa Oquelí Keith Man Kei Ho Fofana Naby Moussa CABINET GASSANT Rexford Jackson GARCÍA & BODÁN WILKINSON & GRIST BANQUE CENTRALE DE GUINÉE SINGH, DOODNAUTH LAW FIRM Joseph Paillant (BCRG) Danna Paredes Vivian Ho BUCOFISC Kashir Khan PWC HONDURAS BAKER & MCKENZIE Guy Piam Micosky Pompilus TRANSCO SA & AQUA MARINE SA Rakesh Latchana José Ramón Paz Basil Hwang CABINET D’AVOCATS CHALMERS RAM & MCRAE CHARTERED CONSORTIUM CENTRO AMÉRICA DECHERT Raffi Raja ACCOUNTANTS Leon Saint -Louis ABOGADOS CABINET KOÛMY Salina Ko AVOCAT Alexis Monize Marco Ponce APL Amadou Salif Kébé GUYANA OFFICE FOR INVESTMENT Margarette Sanon CENTRAL LAW MEDINA, ROSENTHAL & CABINET AVOCAT SALIF KÉBÉ Peter Kwon BANQUE DE LA RÉPUBLIQUE D’HAITI ASOCIADOS Enrique Monize ASHURST LLP Lansana Salif Soumah LAND REGISTRY Michel Succar Milton Rivera Billy Lam Abdourahamane Tounkara SUCCAR AND ASSOCIATES PWC HONDURAS Manzoor Nadir MAYER BROWN JSM GUINÉE CONSULTING DIGICOM Salim Succar José Rafael Rivera Ferrari Christie Lam Aboubacar Salimatou Toure CABINET LISSADE CONSORTIUM CENTRO AMÉRICA R.N. Poonai HONG KONG FINANCIAL SECRETARY NTM AREEBA GUINEE S.A. ABOGADOS POONAI & POONAI Antoine Turnier Cindy Lam Fatoumata Yari Soumah FIRME TURNIER - COMPTABLE Enrique Rodriguez Burchard Christopher Ram THE LAND REGISTRY OF HONG KONG Yansane PROFESSIONNELS AGRÉÉS CONSEILS DE AGUILAR CASTILLO LOVE OFFICE NOTARIAL RAM & MCRAE CHARTERED DIRECTION Lauren Lau ACCOUNTANTS Fanny Rodríguez del Cid KLC KENNIC LUI & CO ARIAS & MUÑOZ GUINEA-BISSAU Vishwamint Ramnarine HONDURAS Candas Lee PFK BARCELLOS, NARINE & CO. René Serrano ELECTRICIDADE E AGUAS DA CNBS - COMISION NACIONAL DE EDMUND W. H. CHOW & CO ARIAS & MUÑOZ GUINE-BISSAU Albert Rodrigues BANCOS Y SEGUROS Juliana Lee RODRIGUES ARCHITECTS LTD. Gricelda Urquía Ahmadou Al Aminou Lo EMPRESA NACIONAL DE ENERGÍA MAYER BROWN JSM TRANSUNION BCEAO Shantel Scott ELÉCTRICA Alice Leung FRASER, HOUSTY & YEARWOOD Armando Urtecho López José Alves Té José Antonio Abate CUSTOMS AND EXCISE DEPARTMENT ATTORNEYS-AT-LAW COHEP (CONSEJO HONDUREÑO DE LA MINISTÉRIO DA JUSTIÇA ABAS CONSULTORES EMPRESA PRIVADA) Dennis Li Humiliano Alves Cardoso Shaundell Stephenson Juan José Alcerro Milla SIMON REID-KAY & ASSOCIATES OFFICE OF THE PRIME MINISTER Roberto Manuel Zacarías GABINETE ADVOCACIA AGUILAR CASTILLO LOVE Urrutia Tommy Li Adelaida Mesa D’Almeida Gidel Thomside Jose Miguel Alvarez ZACARÍAS & ASOCIADOS EDMUND W. H. CHOW & CO JURISCONTA SRL NATIONAL SHIPPING CORPORATION LTD. CONSORTIUM CENTRO AMÉRICA Mario Rubén Zelaya Kennic L H Lui Josephine Whitehead ABOGADOS Djamila Mary Pereira Gomes ENERGÍA INTEGRAL S. DE R.L. DE C.V. KLC KENNIC LUI & CO ARQUITECTONICA LDA CAMERON & SHEPHERD José Simón Azcona Carlos Zuniga Psyche S.F. Luk Troy Williams INMOBILIARIA ALIANZA SA Emilfreda M. de Oliveira IRÍAS & ASOCIADOS - CORRESPONDENT FAIRBAIRN CATLEY LOW & KONG ECOBANK RAM & MCRAE CHARTERED Adrián Burgos OF RUSSELL BEDFORD INTERNATIONAL ACCOUNTANTS Louise Ng CONSORTIUM CENTRO AMÉRICA Miguel Mango SQUIRE SANDERS Roger Yearwood ABOGADOS HONG KONG SAR, CHINA AUDI - CONTA LDA BRITTON, HAMILTON & ADAMS ALLEN & OVERY Kok Leong Ngan César Augusto Cabrera Zapata Vitor Marques da Cruz CLP POWER HONG KONG LIMITED TRANSUNION MC&A - SOCIEDADE DE ADVOGADOS, GUANGDONG AND HONG KONG FEEDER RL HAITI Fredy Castillo ASSOCIATION LTD. Kenneth Poon MÉROVÉ-PIERRE - CABINET THE LAND REGISTRY OF HONG KONG GARCÍA & BODÁN Francisco Mendes D’EXPERTS-COMPTABLES Duncan Abate MAYER BROWN JSM Martinal Quan MINISTRY OF FOREIGN AFFAIRS Jaime Alberto Colindres Rosales Jean Baptiste Brown METOPRO ASSOCIATES LIMITED DYCELES S DE R.L. Teresa Pala Schwalbach BROWN LEGAL GROUP Albert P.C. Chan THE HONG KONG POLYTECHNIC Yash A. Rana MC&A - SOCIEDADE DE ADVOGADOS, Graciela Cruz Martin Camille Cangé UNIVERSITY GOODWIN PROCTER LLP RL GARCÍA & BODÁN ELECTRICITÉ D’HAÏTI Kim Rooney Eduardo Pimentel Víctor Manuel Cuadra Burlero Kenneth Chan Monique César Guillaume HONG KONG ECONOMIC & TRADE GILT CHAMBERS CENTRO DE FORMALIZAÇÃO DE CONSTRUCTORA URBE EMPRESAS PAGS - CABINET D’EXPERTS OFFICE Matthias Schemuth COMPATBLES Gilda Espinal Veliz Nicholas Chan ASHURST LLP Sydney Pinto ASJ - ASOCIACION PARA UNA DP-ACU Djacaman Charles SOCIEDAD MAS JUSTA SQUIRE SANDERS Eric Tang CABINET GASSANT ASIA BUSINESS SERVICE LIMITED Fernando Tavares Oscar Armando Girón Rico Chan TRANSMAR SERVICES Robinson Charles ASOCIACIÓN HONDUREÑA DE BAKER & MCKENZIE Hong Tran BANQUE DE LA RÉPUBLIQUE D’HAITI COMPAÑÍAS Y REPRESENTANTES MAYER BROWN JSM Djunco Suleiman Ture Wendy O. Chan Inelor Dorval NAVIEROS (AHCORENA) MUNICIPALITY OF BISSAU FAIRBAIRN CATLEY LOW & KONG Anita Tsang Lucien Fresnel Jessica Handal PWC HONG KONG Carlos Vamain Vashi Chandiramani CABINET GASSANT ARIAS & MUÑOZ GOMES & VAMAIN ASSOCIADOS EXCELLENCE INTERNATIONAL Derek Tsang Enerlio Gassant Juan Diego Lacayo González MAYER BROWN JSM Emmanuel Yehouessi Beverly Cheung CABINET GASSANT AGUILAR CASTILLO LOVE BCEAO MAYER BROWN JSM Laurence Tsong Giordani Gilbert Emile Evangelina Lardizábal TRANSUNION HONG KONG Winnie Cheung ETUDE BRISSON CASSAGNOL ARIAS & MUÑOZ THE LAND REGISTRY OF HONG KONG ACKNOWLEDGMENTS 237 Paul Tsui Éva Gargya Karen Bragadóttir M.L Bhakta Rajat Joneja HONG KONG ASSOCIATION OF FREIGHT NAGY ÉS TRÓCSÁNYI LAW OFFICE, TOLLSTJÓRI - DIRECTORATE OF CUSTOMS KANGA & CO. KNM & PARTNERS, LAW OFFICES FORWARDING & LOGISTICS LTD. MEMBER OF LEX MUNDI Eymundur Einarsson Pradeep Bhandari Sumeet Kachwaha (HAFFA) Anna Gáspár ENDURSKOÐUN OG RÁÐGJÖF PROTEAM CONSULTING PRIVATE LIMITED KESTENBERG RABINOWICZ PARTNERS Leung Wan BUILD-ECON LTD. EHF - MEMBER OF RUSSELL BEDFORD LLP - MEMBER OF RUSSELL BEDFORD Sushil Bhasin INLAND REVENUE DEPARTMENT, INTERNATIONAL INTERNATIONAL Csaba Attila Hajdu BHASIN INTERNATIONAL HKSAR BNT SZABÓ TOM BURMEISTER ÜGYVÉDI Ólafur Eiríksson Rupen Kanawala Saurav Bhattacharya Yeeling Wan IRODA LOGOS, MEMBER OF LEX MUNDI JURIS CORP PWC INDIA STEPHENSON HARWOOD Tamas Halmos Skuli Th. Fjeldsted Megha Kapoor Rewati Bobde Christopher Whiteley PARTOS & NOBLET HOGAN LOVELLS FJELDSTED, BLÖNDAL & FJELDSTED SINGH & ASSOCIATES, ADVOCATES AND JURIS CORP ASHURST LLP SOLICITORS Dóra Horváth Benedikt Geirsson Nidhi Bothra Agnes Wong RETI, ANTALL AND PARTNERS LAW FIRM ISTAK Jayesh Karandikar VINOD KOTHARI & CO., COMPANY COMPANIES REGISTRY, HKSAR KOCHHAR & CO. István Illés Erlendur Gíslason SECRETARIES Bill Wong RETI, ANTALL AND PARTNERS LAW FIRM LOGOS, MEMBER OF LEX MUNDI Rajas Kasbekar Leena Chacko HONG KONG ECONOMIC & TRADE LITTLE & CO. Norbert Izer Guðrún Guðmundsdóttir AMARCHAND & MANGALDAS & OFFICE PWC HUNGARY JÓNAR TRANSPORT SURESH A. SHROFF & CO. Kripi Kathuria Chester Wong PHOENIX LEGAL Andrea Jádi Németh Reynir Haraldsson Rajarshi Chakrabarti MAYER BROWN JSM BPV | JÁDI NÉMETH ATTORNEYS JÓNAR TRANSPORT KOCHHAR & CO. Charandeep Kaur Fergus Wong AT LAW TRILEGAL Hörður Davíð Harðarson Harshala Chandorkar PWC HONG KONG Dorottya Kovacsics TOLLSTJÓRI - DIRECTORATE OF CUSTOMS CREDIT INFORMATION BUREAU LTD. Paramjeet Kaur Patrick Wong PARTOS & NOBLET HOGAN LOVELLS PARAM OVERSEAS Margrét Hauksdóttir Prashant Chauhan MAYER BROWN JSM Petra Lencs REGISTERS ICELAND ADVOCATE Mitalee Kaushal Winston Yau CSERI & PARTNERS LAW FIRM Stefan Ingimarsson Daizy Chawla Shahriar Khan ORIENTAL BUSINESS SERVICES LIMITED László Mohai FULLTINGI LEGAL SERVICES SINGH & ASSOCIATES, ADVOCATES AND CROWN AGENTS LTD. Ricky Yiu MOHAI LAW OFFICE SOLICITORS Sigrun Helga Johannsdottir Ravinder Komaragiri BAKER & MCKENZIE András Multas FULLTINGI LEGAL SERVICES Manjula Chawla THE TATA POWER COMPANY LIMITED Hai Yong PARTOS & NOBLET HOGAN LOVELLS PHOENIX LEGAL Erlingur E. Jónasson Anuraag Kothari BAKER & MCKENZIE Robert Nagy ISTAK Arzineh Chinoy TRILEGAL Peter Yu BISZ CENTRAL CREDIT INFORMATION DESAI & DIWANJI Hróbjartur Jónatansson Vinod Kothari PWC HONG KONG (PLC) JÓNATANSSON & CO. LEGAL SERVICES Harish Chugh VINOD KOTHARI & CO., COMPANY Frank Yuen Sándor Németh PARAM OVERSEAS SECRETARIES Jóhanna Áskels Jónsdóttir KLC KENNIC LUI & CO SZECSKAY ATTORNEYS AT LAW PRICEWATERHOUSECOOPERS LEGAL EHF Sachin Chugh Harsh Kumar Christopher Noblet SINGHI CHUGH & KUMAR, CHARTERED SINGHI CHUGH & KUMAR, CHARTERED HUNGARY Thora Jónsdóttir PARTOS & NOBLET HOGAN LOVELLS ACCOUNTANTS ACCOUNTANTS JURIS LAW OFFICE CARGO-PARTNER István Sándor Ketan Dalal Mukesh Kumar Jóhann Magnús Jóhannsson JONES LANG LASALLE KELEMEN, MESZAROS, SANDOR & PWC INDIA KNM & PARTNERS, LAW OFFICES LOGOS, MEMBER OF LEX MUNDI PARTNERS Mark Balastyai Vishwang Desai Vikram Kumar Benedetto Nardini FUTUREAL GROUP Tamas Sotet DESAI & DIWANJI SUPPLY SOURCE INDIA BBA LEGAL INTERNATIONAL LOGISTIC GATEWAY Diana Balazs Devendra Deshmukh Dilip Kumar Niranjan Dagbjört Oddsdóttir PWC HUNGARY Krisztina Stachó KHAITAN & CO. SINGH & ASSOCIATES, ADVOCATES AND BBA LEGAL BPV | JÁDI NÉMETH ATTORNEYS SOLICITORS Péter Bárdos Monika Deshmukh AT LAW Kristján Pálsson LAW FIRM DR. PÉTER AND RITA DESAI & DIWANJI Manoj Kumar Singh JÓNAR TRANSPORT BÁRDOS Gergely Szabó SINGH & ASSOCIATES, ADVOCATES AND Prashant Dharia RETI, ANTALL AND PARTNERS LAW FIRM Ásgeir Á. Ragnarsson SOLICITORS Marianna Bártfai ANANT INDUSTRIES BBA LEGAL BDO HUNGARY Tibor Szabó Vijay Kumar Singh Farida Dholkawala RETI, ANTALL AND PARTNERS LAW FIRM Eyvindur Sólnes SINGH & ASSOCIATES, ADVOCATES AND Sándor Békési DESAI & DIWANJI CATO LÖGMENN SOLICITORS PARTOS & NOBLET HOGAN LOVELLS Ágnes Szent-Ivány Ashwin Didwania SÁNDOR SZEGEDI SZENT-IVÁNY Jóhannes Stephensen Shreedhar Kunte Péter Berethalmi NEW GLOBE LOGISTIK PVT. LTD. KOMÁROMI EVERSHEDS CREDITINFO ICELAND SHARP AND TANNAN - MEMBER OF NAGY ÉS TRÓCSÁNYI LAW OFFICE, Thambi Durai RUSSELL BEDFORD INTERNATIONAL MEMBER OF LEX MUNDI Viktória Szilágyi Gunnar Sturluson T. DURAI & CO. NAGY ÉS TRÓCSÁNYI LAW OFFICE, LOGOS, MEMBER OF LEX MUNDI C.K.N. Kuppuraajha Hedi Bozsonyik MEMBER OF LEX MUNDI Ferdinand Duraimanickam SHRI ABINAYA MERCANTILES PRIVATE SZECSKAY ATTORNEYS AT LAW Rúnar Svavar Svavarsson BFS LEGAL LIMITED Angéla Szőke ORKUVEITA REYKJAVÍKUR, Beata Bujnoczki BDO HUNGARY DISTRIBUTION-ELECTRICAL SYSTEM Ritika Ganju Harjeet Lall RETI, ANTALL AND PARTNERS LAW FIRM PHOENIX LEGAL AXON PARTNERS LLP Adrienn Tar Stefán A. Svensson Zsuzsanna Cseri SZECSKAY ATTORNEYS AT LAW JURIS LAW OFFICE Rahul Garg Nitesh Latwal CSERI & PARTNERS LAW FIRM PWC INDIA CORPORATE PROFESSIONALS Ágnes Tigelmann Steinþór Þorsteinsson Gábor Dohány BPV | JÁDI NÉMETH ATTORNEYS TOLLSTJÓRI - DIRECTORATE OF CUSTOMS Tavishi Garg Chandni Lochan PARTOS & NOBLET HOGAN LOVELLS AT LAW MAJMUDAR & CO. TRILEGAL Gabriella Erdos INDIA Ádám Tóth Sameer Guha Rajiv K. Luthra PWC HUNGARY DR. 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DESAI & DIWANJI Éva Fülöp AT LAW JURIS CORP BPV | JÁDI NÉMETH ATTORNEYS Yogesh Jare Avadesh Marthur AT LAW ICELAND Sumant Batra SUHASINI IMPEX HARSH IMPEX PWC ICELAND KESAR DASS B & ASSOCIATES Gyula Gábriel H. Jayesh Atul Mehta BOGSCH & PARTNERS Neeraj Bhagat JURIS CORP MEHTA & MEHTA REYKJAVIK MUNICIPAL BUILDING CONTROL OFFICE NEERAJ BHAGAT & CO. Ernő Garamvölgyi Dharmendra Johari Dara Mehta BUDAPEST IX DISTRICT MUNICIPALITY STONEX INC. LITTLE & CO. 238 DOING BUSINESS 2013 Dipti Mehta Richie Sancheti Prianto Budi Nico Mooduto IRAN, ISLAMIC REP. MEHTA & MEHTA NISHITH DESAI ASSOCIATES PT PRATAMA INDOMITRA KONSULTAN SOEWITO SUHARDIMAN EDDYMURTHY Hamid Reza Adabi - MEMBER OF RUSSELL BEDFORD KARDONO STATE ORGANIZATION FOR Jitesh Mehta Ramani Seshadri INTERNATIONAL REGISTRATION OF DEEDS & PROPERTIES SOURCE INDIA Norma Mutalib Brinda Shah OF ISLAMIC REPUBLIC OF IRAN Tony Budidjaja MAKARIM & TAIRA S. Preeti G. 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Timothy Kiman CENTRAL BANK OF JORDAN LTD. (JEPCO) Shestakov Gennady Yuliya V. Petrenko SIGINON FREIGHT LTD. Omar Al Sawadha KAZAKHSTAN LOGISTICS SERVICE BMF GROUP LLP Fouad Shaban Morris Kimuli HAMMOURI & PARTNERS ALI SHARIF ZU’BI, ADVOCATES & LEGAL Alexandr Giros Nikolay Popov B.M. MUSAU & CO. ADVOCATES Mohammad Al Smadi CONSULTANTS, MEMBER OF LEX MUNDI ARISTAN PROJECT MANAGEMENT BDO Meshack T. Kipturgo INTERNATIONAL BUSINESS LEGAL GROUP (APMG) Stephan Stephan Elvis Roberts SIGINON FREIGHT LTD. ASSOCIATES PWC JORDAN Evgeniy Gonov CRUZ LOGISTICS I.P. PETROVA 242 DOING BUSINESS 2013 Owen Koimburi Kenneth Barden Wonhyung Kim Albert Avdiu Lekë Musa KOKA KOIMBURI & CO., MEMBER OF ATTORNEY-AT-LAW YOON & YANG LLC KOSOVO JUDICIAL COUNCIL BU & PARTNERS MAZARS SECRETARIAT Rengaua Bauro Yoon Young Kim Arben Mustafa David Lekerai MINISTRY OF FINANCE HWANG MOK PARK P.C. 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Irina Olevska Sanaa Daakour Reema Ali M&M TRANSPORT LOGISTIC SERVICES ATTORNEYS AT LAW BORENIUS MENA CITY LAWYERS ALI & PARTNERS Phanthasak Mingnakhone Amanbek Kebekov Baiba Orbidane Aline Dantziguian Akusa Batwala DEPARTMENT OF CADASTRE AND Somlack Nhoybouakong LAWIN CHAMBER OF COMMERCE, INDUSTRY & ASAR – AL RUWAYEH & PARTNERS REGISTRATION OF RIGHTS ON LAO FREIGHT FORWARDER CO. LTD. AGRICULTURE OF BEIRUT IMMOVABLE PROPERTY Zane Paeglite Abdullah Bin Ali Vongphacnanh Onepaseuth SORAINEN Michel Doueihy PACKAGING AND PLASTIC INDUSTRIES Aleksandr Klishevich DFDL MEKONG LAW GROUP BADRI AND SALIM EL MEOUCHI LAW CO. (KSC) ARHSTROYPROEKT Kristine Parsonse Somphone Phasavath FIRM, MEMBER OF INTERLEGES ECB SIA - CORRESPONDENT OF Nada Bourahmah Svetlana Lebedeva LAO FREIGHT FORWARDER CO. LTD. 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Pierre Valentin Tchol Kaldjob Kristina Kriščiūnaitė LOYENS & LOEFF PWC GHANA PWC LITHUANIA Jihan Rizk Khattar Duduzile Seamatha Guy Castegnaro KHATTAR ASSOCIATES SHEERAN & ASSOCIATES Benjamin M. Togbah Ronaldas Kubilius IUS LABORIS LUXEMBOURG, COOPER & TOGBAH LAW OFFICE PWC LITHUANIA CASTEGNARO Jihad Rizkallah Tiisetso Sello-Mafatle BADRI AND SALIM EL MEOUCHI LAW SELLO-MAFATLE ATTORNEYS G. Lahaison Waritay Egidijus Kundelis Gérard Eischen FIRM, MEMBER OF INTERLEGES MINISTRY OF PUBLIC WORKS PWC LITHUANIA CHAMBER OF COMMERCE OF THE Lindiwe Sephomolo GRAND-DUCHY OF LUXEMBOURG Samir Safa L. SEPHOMOLO CHAMBERS Darcy White Žilvinas Kvietkus BAROUDI & ASSOCIATES PWC GHANA RAIDLA LEJINS & NORCOUS Annie Elfassi Mooresi Tau Thabane LOYENS & LOEFF Joseph Safar MOFOLO, TAU - THABANE AND CO. Melvin Yates Gytis Malinauskas HAYEK GROUP COMPASS INC., CLEARING AND SORAINEN Ambroise Foerster Phoka Thene FORWARDING LOYENS & LOEFF Rached Sarkis Linas Margevicius Sehaba Thibeli CONSULTANT LEGAL BUREAU OF LINAS MARGEVICIUS Peggy Goossens TRIANGLE FREIGHT LITHUANIA PIERRE THIELEN AVOCATS Antoine Sfeir Rūta Matonienė George Thokoa BANK OF LITHUANIA BADRI AND SALIM EL MEOUCHI LAW VILNIUS CITY MUNICIPALITY Alain Grosjean MASERU ELECTRO SERVICES PTY LTD. FIRM, MEMBER OF INTERLEGES Tomas Ambrasas BONN & SCHMITT Vaidotas Melynavicius Refiloe Thulo TARK GRUNTE SUTKIENE Mona Sfeir AAA BALTIC SERVICE COMPANY Vincent Hieff K. R. CONSULTANTS HYAM G. MALLAT LAW FIRM Loreta Andziulyte -LAW FIRM CHAMBER OF COMMERCE OF THE PROVENTUSLAW LT GRAND-DUCHY OF LUXEMBOURG Rami Smayra LIBERIA Tomas Mieliauskas SMAYRA LAW OFFICE Dovile Aukstuolyte LAW FIRM FORESTA Véronique Hoffeld JAFAIN CONSORTIUM ECOVIS MISKINIS, KVAINAUSKAS IR LOYENS & LOEFF George Tannous Ana Mikuliene LIBERIA LAW SERVICES PARTNERIAI ADVOKATU KONTORA BEIRUT INTERNATIONAL MOVERS PROVENTUSLAW LT Paul Hoffmann Andrew Anderson Pavel Balbatunov CREOS LUXEMBOURG S.A. Bassel Tohme Bronislovas Mikūta GENTLE CLEARING & FORWARDING LTD. MENA CITY LAWYERS Petras Baltusevičius STATE ENTERPRISE CENTRE OF REGISTERS Christian Jungers Gideon Ayi-Owoo DSV TRANSPORT UAB KLEYR GRASSO ASSOCIES Nady Tyan Jurate Misionyte PWC GHANA TYAN & ZGHEIB LAW FIRM Donatas Baranauskas TARK GRUNTE SUTKIENE Tom Loesch Khalil Azar VILNIAUS MIESTO 14 - ASIS NOTARU ETUDE LOESCH Rania Yazbeck Asta Misiukiene BEEVER COMPANY BIURAS TYAN & ZGHEIB LAW FIRM MINISTRY OF ECONOMY Nathalie Mangen Golda A. 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PARTNERIAI ADVOKATU KONTORA UAB ELMONTA MINISTRY OF PUBLIC WORKS Rubin Atanasoski Leoma Matamne Frank Heemann Marius Stračkaitis TIMELPROJECT ENGINEERING George Kwatia MOLEPE QUANTITY SURVEYORS BNT HEEMANN KLAUBERG KRAUKLIS LITHUANIAN NOTARY CHAMBER PWC GHANA Benita Beleshkova APB Kolisang Mochesane Lepholisa Ieva Tarailiene IKRP ROKAS & PARTNERS Marie Norman DU PREEZ LIEBETRAU & CO. Eglė Jankauskaitė STATE ENTERPRISE CENTRE OF REGISTERS CITY CORPORATION OF MONROVIA Dragan Blažev GLIMSTEDT Denis Molyneaux Vilija Vaitkutė Pavan TIMELPROJECT ENGINEERING Christiana Osei-Mensah WEBBER NEWDIGATE Indrė Jonaitytė LAW FIRM LAWIN PWC GHANA Dejan Bogdanovski LAW FIRM LAWIN Tseliso Monaphathi Darius Zabiela REPUBLIC OF MACEDONIA, Sylvester Rennie HIGH COURT Ieva Kairytė LAW FIRM ZABIELA, ZABIELAITE & MUNICIPALITY OF ILINDEN COOPER & TOGBAH LAW OFFICE PWC LITHUANIA PARTNERS Phillip Mophethe Slavica Bogoeva Kwame L. 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GLIMSTEDT Lasana Sasay Molemo Motseki Inga Karulaityte-Kvainauskiene Viktor Bogorojceski MINISTRY OF PUBLIC WORKS PROVENTUSLAW LT LUXEMBOURG STOJKOSKA ATTORNEY AT LAW Bulane None Yancy Seeboe ALLEN & OVERY LUXEMBOURG ULTIMATE SOLUTION Romualdas Kasperavičius Ema Cubrinovska NATIONAL CUSTOM BROKERS STATE ENTERPRISE CENTRE OF REGISTERS ENERGO DIZAJN PWC LUXEMBOURG Poulo Nono ASSOCIATION OF LIBERIA THE LEGAL VOICE Jonas Kiauleikis SERVICE DE L’URBANISME POLICE DES Ljupco Cubrinovski ATTORNEYS AT LAW BORENIUS BÂTISSES ENERGO DIZAJN ACKNOWLEDGMENTS 245 Andrej Dameski Valentin Pepeljugoski Serge Lucien Rajoelina Alfred Majamanda Ramli Hazra Izadi PWC MACEDONIA LAW OFFICE PEPELJUGOSKI JIRO SY RANO MALAGASY (JIRAMA) MBENDERA & NKHONO ASSOCIATES LKMD ARCHITECTURE Julijana Dimitrievska Sonja Peshevska Tojo Rakotomamonjy James Masumbu Ang Seng Hing REPUBLIC OF MACEDONIA, LAW OFFICE PEPELJUGOSKI ETUDE RAZANADRAKOTO RIJA TEMBENU, MASUMBU & CO. USHAMAS FORWARDING (M) SDN. MUNICIPALITY OF ILINDEN BHD. Zorica Pulejkova Danielle Rakotomanana Raphael Mhone Mile Doldurov REPUBLIC OF MACEDONIA NOTARY CABINET RAKOTOMANANA RACANE ASSOCIATES Hj. Hasim Hj. Ismail STOJKOSKA ATTORNEY AT LAW PUBLIC LAND & MINES OFFICE Heritiana Rakotosalama Vyamala Moyo Ljupco Georgievski Viktor Ristovski LEGISLINK CONSULTING PWC MALAWI Hung Hoong AGENCY FOR REAL ESTATE CADASTRE CAKMAKOVA ADVOCATES SHEARN DELAMORE & CO. Mamisoa Rakotosalama Charles Mvula Marijana Gjoreska Ljubica Ruben LEGISLINK CONSULTING DUMA ELECTRICS - CONTROL Rohani Ismail CENTRAL REGISTRY OF THE REPUBLIC OF MENS LEGIS LAW FIRM SYSTEMS AND ENERGY MANAGEMENT SESSION COURT KUALA LUMPUR Lanto Tiana Ralison MACEDONIA Biljana Saraginova PWC MADAGASCAR Davis Njobvu Norhaiza Jemon Sonja Gjurevska MONEVSKI LAW FIRM SAVJANI & CO. COMPANIES COMMISSION OF MALAYSIA Martial Ralison CAKMAKOVA ADVOCATES Simonida JIRO SY RANO MALAGASY (JIRAMA) Dinker A. Raval Kumar Kanagasabai Zoranco Griovski Shosholceva-Giannitsakis WILSON & MORGAN SKRINE, MEMBER OF LEX MUNDI Gérard Ramarijaona REPUBLIC OF MACEDONIA, IKRP ROKAS & PARTNERS PRIME LEX Kumar Kanagasingam MUNICIPALITY OF ILINDEN MALAYSIA Milica Shutova LEE HISHAMMUDDIN ALLEN & GELDHILL Roland Ramarijaona Werner Hengst CAKMAKOVA ADVOCATES BANK NEGARA MALAYSIA DELTA AUDIT DELOITTE Kesavan Karuppiah EVN MACEDONIA Alexander Sipek INTEGRATED LOGISTICS SOLUTIONS MINISTRY OF HUMAN RESOURCE Laingo Ramarimbahoaka Biljana Ickovska EVN MACEDONIA SDN BHD MADAGASCAR CONSEIL INTERNATIONAL Azemi Kasim LAW OFFICE NIKOLOVSKI & ASSOCIATES Ivica Smilevski PORT KLANG AUTHORITIES DEPARTMENT OF DIRECTOR GENERAL OF Heritiana Rambeloson Aleksandar Ickovski CHAMBER OF BANKRUPTCY MANAGERS LAND & MINES JIRO SY RANO MALAGASY (JIRAMA) Halimi Abd Manaf TAX & LEGAL CONSULTANT OF THE REPUBLIC OF MACEDONIA MINISTRY OF HOUSING AND LOCAL Geeta Kaur Zakazo Ranaivoson Maja Jakimovska Ljupka Stojanovska GOVERNMENT SDV TRANSPORT CABINET DE CONSEILS D’ENTREPRISES CAKMAKOVA ADVOCATES LAW OFFICE NIKOLOVSKI & ASSOCIATES Nor Azimah Abdul Aziz Teh Wai Keong William Randrianarivelo Dragana Jashevic Zika Stojanovski COMPANIES COMMISSION OF MALAYSIA EQUATORIAL LOGISTICS SDN BHD. PWC MADAGASCAR LAW OFFICE NIKOLOVSKI & ASSOCIATES REPUBLIC OF MACEDONIA, Abdul Karim Abdul Jalil Chuan Keat Khoo MUNICIPALITY OF ILINDEN Sahondra Rasoarisoa Aneta Jovanoska Trajanovska MALAYSIA DEPARTMENT OF INSOLVENCY PWC MALAYSIA DELTA AUDIT DELOITTE LAWYERS ANTEVSKI Suzana Stojkoska Mohammad Rohaimy Abdul Loh Kok Leong STOJKOSKA ATTORNEY AT LAW Michael Ratrimo Lenche Karpuzovska Rahim RUSSELL BEDFORD LC & COMPANY MADAGASCAR INTERNATIONAL EVN MACEDONIA Margareta Taseva MINISTRY OF INTERNATIONAL TRADE - MEMBER OF RUSSELL BEDFORD CONTAINER TERMINAL SERVICES LTD. CAKMAKOVA ADVOCATES AND INDUSTRY INTERNATIONAL Dejan Knezović Mahery Ratsimandresy LAW OFFICE KNEZOVIC & ASSOCIATES Dragica Tasevska Sonia Abraham Christopher Lee PRIME LEX NATIONAL BANK OF THE REPUBLIC OF AZMAN, DAVIDSON & CO. CHRISTOPHER LEE & CO. Vancho Kostadinovski MACEDONIA Théodore Raveloarison CENTRAL REGISTRY OF THE REPUBLIC OF Wilfred Abraham Bernard Lim JARY - BUREAU D’ETUDES MACEDONIA Stefan Trost ZUL RAFIQUE & PARTNERS, ADVOCATE PHK MANAGEMENT SERVICES SDN BHD ARCHITECTURE INGENIERIE EVN MACEDONIA & SOLICITORS Antonio Kostanov Koon Huan Lim Andry Nirina Ravelojaona ENFORCEMENT AGENT REPUBLIC OF Vladimir Vasilevski Alwizah Al-Yafii Ahmad Kamal SKRINE, MEMBER OF LEX MUNDI BANQUE CENTRALE DE MADAGASCAR MACEDONIA BETASPED D.O.O. ZAID IBRAHIM & CO (ZICO) Seok Hua Lim Andriamisa Ravelomanana Aleksandra Kostovska Tome Velkovski Dato’ Abdul Halim Ain NORTH PORT (MALAYSIA) BHD PWC MADAGASCAR STOJKOSKA ATTORNEY AT LAW MINISTRY OF ECONOMY DEPARTMENT OF DIRECTOR GENERAL OF Len Toong Low Jean Marcel Razafimahenina LAND & MINES Ivana Lekic Zlatko Veterovski NORTH PORT (MALAYSIA) BHD DELTA AUDIT DELOITTE PWC MACEDONIA CUSTOMS ADMINISTRATION Dato’ Sh. Yahya bin Sh. Ir. Bashir Ahamed Maideen Rija Nirina Razanadrakoto Mohamed Almurisi Miroslav Marchev Milica Zafirova NADI CONSULT ERA SDN BHD ETUDE RAZANADRAKOTO RIJA MINISTRY OF HUMAN RESOURCE PWC MACEDONIA STOJKOSKA ATTORNEY AT LAW Alias Marjoh Rivolala Razanatsimba Adrian Azlan Mirjana Markovska KUALA LUMPUR CITY HALL MADAGASCAR JIRO SY RANO MALAGASY (JIRAMA) WESTPORTS MALAYSIA SDN BHD STOJKOSKA ATTORNEY AT LAW Chuah Meng Sim BUREAU DE LIAISON SGS Ida Soamiliarimana Mohd Azlan B. Mohd Radzi Oliver Mirchevski RUSSELL BEDFORD LC & COMPANY MADAGASCAR CONSEIL INTERNATIONAL LAND & MINES OFFICE EVN MACEDONIA CABINET JOHN W. FFOOKS & CO. - MEMBER OF RUSSELL BEDFORD Anita Balakrishnan INTERNATIONAL Irena Mitkovska CABINET SIGMA CONSULTING MALAWI SHEARN DELAMORE & CO. LAWYERS ANTEVSKI Rokiah Mhd Noor Eric Robson Andriamihaja MALAWI REVENUE AUTHORITY Abdul Murad Bin Che Chik COMPANIES COMMISSION OF MALAYSIA Martin Monevski ECONOMIC DEVELOPMENT BOARD OF MANICA AFRICA PTY. LTD. MONEVSKI LAW FIRM MADAGASCAR KC Chan Adura Mizan Dino Amritlal Raval FREIGHT TRANSPORT NETWORK SDN. COMPANIES COMMISSION OF MALAYSIA Valerjan Monevski Tsiry Andriamisamanana WILSON & MORGAN BHD. MONEVSKI LAW FIRM MADAGASCAR CONSEIL INTERNATIONAL Zuhaidi Mohd Shahari Kevin M. Carpenter Hong Yun Chang AZMI & ASSOCIATES Elena Mucheva Andriamanalina Andrianjaka PWC MALAWI TAY & PARTNERS NATIONAL BANK OF THE REPUBLIC OF OFFICE NOTARIAL DE TAMATAVE Saran Nair MACEDONIA Richard Chakana Ar Teoh Chee Wui CIMB GROUP Wasoudeo Balloo 2PS CARGO CO. Svetlana Neceva KPMG MADAGASCAR Ruban Chelliah Marina Nathan LAW OFFICE PEPELJUGOSKI Joseph Chavula STANCO AND RUCHE CONSULTING COMPANIES COMMISSION OF MALAYSIA Yves Duchateau FIRST MERCHANT BANK LTD. Marina Nikoloska SDV LOGISTICS Andrew Ean Vooi Chiew Oy Moon Ng CAKMAKOVA ADVOCATES Marshal Chilenga LEE HISHAMMUDDIN ALLEN & GELDHILL CTOS DATA SYSTEMS SDN BHD Raphaël Jakoba TF & PARTNERS Marija Nikolova MADAGASCAR CONSEIL INTERNATIONAL Tze Keong Chung Swee Kee Ng LAW OFFICE KNEZOVIC & ASSOCIATES Gautoni D. Kainja CTOS DATA SYSTEMS SDN BHD SHEARN DELAMORE & CO. Hanna Keyserlingk KAINJA & DZONZI Vesna Nikolovska CABINET HK JURIFISC Walter Culas Shahri Omar LAW OFFICE NIKOLOVSKI & ASSOCIATES Chimwemwe Kalua AIR FREIGHT FORWARDERS ASSOCIATION NORTH PORT (MALAYSIA) BHD Jean Claude Liong GOLDEN & LAW OF MALAYSIA (AFAM) Goran Nikolovski KPMG MADAGASCAR Allison Ong LAW OFFICE NIKOLOVSKI & ASSOCIATES Dannie J. Kamwaza Nadesh Ganabaskaran AZMAN, DAVIDSON & CO. Pascaline R. Rasamoeliarisoa KAMWAZA DESIGN PARTNERSHIP ZUL RAFIQUE & PARTNERS, ADVOCATE Zlatko Nikolovski DELTA AUDIT DELOITTE Hock An Ong & SOLICITORS NOTARY CHAMBER OF R. OF Frank Edgar Kapanda KPMG Julie R. Ratsimisetra MACEDONIA HIGH COURT OF MALAWI Tiew Hai San GROUPEMENT DES ENTREPRISES Aminah BT Abd. Rahman MINISTRY OF FEDERAL TERRITORIES AND Martin Odzaklieski FRANCHES ET PARTENAIRES (GEFP) Andrews Katuya MINISTRY OF HOUSING AND LOCAL URBAN WELLBEING MINISTRY OF TRANSPORT AND DOWELL & JONES, ATTORNEYS-AT-LAW GOVERNMENT Sahondra Rabenarivo COMMUNICATIONS Dato’ Hashim Hamzah MADAGASCAR LAW OFFICES Shabir Latif Sakaya Johns Rani FEDERAL COURT OF MALAYSIA Vasil Pavloski SACRANIE, GOW & CO. PWC MALAYSIA Pierrette Rajaonarisoa MINISTRY OF ECONOMY Betty Hasan SDV LOGISTICS MINISTRY OF HUMAN RESOURCE 246 DOING BUSINESS 2013 Sugumar Saminathan Upul Shantha MALTA George Francalanza Mark Wirth MALAYSIA PRODUCTIVITY CORPORATION KPMG Shawn Agius MALTA ENTERPRISE PWC Andy Seo Mizna Shareef INLAND REVENUE DEPARTMENT Antoine S Galea Angelo Xuereb SHAH, HUSSAIN & CO. BARRISTERS & Alexia Albani ENEMALTA CORPORATION AX HOLDINGS Fiona Sequerah ATTORNEYS BANK OF VALLETTA CHRISTOPHER LEE & CO. Matthew Galea Debono Quentin Zahra Abdul Mallik Thoufeeg Randolph Aquilina CSB ADVOCATES EUROFREIGHT Chan Kum Siew STELCO INLAND REVENUE DEPARTMENT MALAYSIA PRODUCTIVITY CORPORATION Neville Gatt Silvana Zammit Matthew Attard PWC CHETCUTI CAUCHI ADVOCATES Hadiman Bin Simin MALI MINISTRY OF HOUSING AND LOCAL GANADO & ASSOCIATES - ADVOCATES Christabelle Gauci Andrew J. Zammit CABINET JOHN W. FFOOKS & CO. GOVERNMENT John Bonello CSB ADVOCATES CSB ADVOCATES DAMCO SCERRI & BONELLO ADVOCATES Rishwant Singh Mark Gauci John Zarb ZUL RAFIQUE & PARTNERS, ADVOCATE Ahmadou Al Aminou Lo Leonard Bonello OCCUPATIONAL HEALTH AND SAFETY PWC & SOLICITORS BCEAO GANADO & ASSOCIATES - ADVOCATES AUTHORITY (OHSA) Sukhbir Singh Oumar Bane Keith German MARSHALL ISLANDS Paul Bonello M & N MANAGEMENT CONSULTANTS JURIFIS CONSULT MINISTRY OF FINANCE DEPARTMENT LAND REGISTRY BANK OF MARSHALL ISLANDS Kenneth Tiong Amadou Camara OF CUSTOMS Joseph Ghio MARSHALLS ENERGY COMPANY THE ASSOCIATED CHINESE CHAMBERS SCP CAMARA TRAORÉ Caroline Borg FENECH & FENECH ADVOCATES Helkena Anni OF COMMERCE AND INDUSTRY OF Céline Camara Sib MALTA FREEPORT TERMINALS LIMITED Steve Gingell MARSHALL ISLANDS REGISTRY MALAYSIA (ACCCIM) ETUDE ME CELINE CAMARA SIB Kris Borg PWC Kenneth Barden Sugumaran Vairavappillai DR KRIS BORG & ASSOCIATES Boubacar Coulibaly Joseph Grech ATTORNEY-AT-LAW TENAGA NASIONAL BERHAD - ADVOCATES MATRANS MALTA ENTERPRISE Raquel De Leon Heng Choon Wan Maria Clara Borg Elvis Danon Marisa Grech MARSHALL ISLANDS SOCIAL SECURITY PWC MALAYSIA EMD ADVOCATES PWC CÔTE D’IVOIRE LAND REGISTRY ADMINISTRATION Chee Lin Wong Mario Raymond Borg Fatoumata D. Diarra Sandro Grech Jerry Kramer SKRINE, MEMBER OF LEX MUNDI INLAND REVENUE DEPARTMENT AFRICAN LEGAL & TAX MALI SG MALTA LIMITED - CORRESPONDENT PACIFIC INTERNATIONAL, INC. Keat Ching Wong (ALT-MALI) Katrina Borg Cardona OF RUSSELL BEDFORD INTERNATIONAL James McCaffrey ZUL RAFIQUE & PARTNERS, ADVOCATE MALTA ENTERPRISE Aboubacar S. Diarrah Karl Grech Orr THE MCCAFFREY FIRM, LTD. & SOLICITORS MINISTÈRE DE LA JUSTICE, GARDE DES Joseph P. Brincat GANADO & ASSOCIATES - ADVOCATES Dennis Reeder Clifford Eng Hong Yap SCEAUX MINISTRY OF FINANCE DEPARTMENT Peter Grima RMI RECEIVERSHIPS PWC MALAYSIA OF CUSTOMS Fatimata Dicko Zouboye ENEMALTA CORPORATION Liz Rodick MALDIVES Djibril Guindo Ann M. Bugeja Stefan Grima EZ PRICE MART JURIFIS CONSULT CSB ADVOCATES BANK OF VALLETTA Mohamed Abdul Azeez Scott H. Stege AIMA CONSTRUCTION COMPANY Maiga Seydou Ibrahim George Bugeja Josef Laferla LAW OFFICES OF SCOTT STEGE PVT LTD. CABINET D’AVOCATS SEYDOU IBRAHIM GANADO & ASSOCIATES - ADVOCATES SCERRI & BONELLO ADVOCATES Anthony Tomlinson MAIGA Adrian Cachia Mohamed Ahsan Kevin Loughborough BECA INTERNATIONAL CONSULTANTS ARCHENG STUDIO PVT LTD. Awa Kane MALTA FREEPORT TERMINALS LIMITED COBRA INSTALLATIONS LTD. MATRANS André Camilleri Yamuna Amaraperuma Adrian Mallia Bori Ysawa KPMG Mamadou Ismaïla Konate MALTA FINANCIAL SERVICES AUTHORITY MALTA FREEPORT TERMINALS LIMITED ROBERT REIMERS ENTERPRISES, INC. JURIFIS CONSULT (MFSA) Arafath Chris Mallia GLOBAL CARGO CARE Amadou Maiga Kenneth Camilleri GANADO & ASSOCIATES - ADVOCATES MAURITANIA MAIRIE DU MALI CHETCUTI CAUCHI ADVOCATES Mohamed Salem Abdy Jatindra Bhattray Allan Micallef Paul Camilleri CABINET D’AVOCATS SALEM ABDY PWC MALDIVES Maiga Mamadou ENEMALTA CORPORATION AGENCE NATIONALE D’ASSISTANCE PAUL CAMILLERI & ASSOCIATES Moussa Aw Asma Chan-Rahim Priscilla Mifsud Parker MEDICALE Simon Camilleri BSD & ASSOCIÉS SHAH, HUSSAIN & CO. BARRISTERS & CHETCUTI CAUCHI ADVOCATES ATTORNEYS Adeline Messou CREDITINFO Tidiane Bal Henri Mizzi BSD & ASSOCIÉS PWC CÔTE D’IVOIRE Joseph Caruana Mohamed Fahad CAMILLERI PREZIOSI GLOBAL CARGO CARE Bérenger Y. Meuke MALTA FINANCIAL SERVICES AUTHORITY Mohamed El Hassen Boukhreiss (MFSA) Robert Mizzi DIRECTION DES DOMAINES, DE JURIFIS CONSULT Mohamed Fizan GANADO & ASSOCIATES - ADVOCATES L’ENREGISTREMENT ET DU TIMBRE SHAH, HUSSAIN & CO. BARRISTERS & Keita Zeïnabou Sacko David Cassar ATTORNEYS MALTA ENVIRONMENT & PLANNING John Paris API MALI Hamoud Ismail AUTHORITY (MEPA) CREDITINFO SMPN Charith Gunathilaka Alassane T. Sangaré KPMG Jean-Philippe Chetcuti Reynold Portelli NOTARY Cheikany Jules CHETCUTI CAUCHI ADVOCATES MALTA FREEPORT TERMINALS LIMITED CHEIKHANY JULES LAW OFFICE Mohamed Hameed Djibril Semega ANTRAC PVT. LTD. Maria Chetcuti Cauchi Julienne Portelli Demajo CABINET SEAG CONSEIL Abdou M’Bodj CHETCUTI CAUCHI ADVOCATES GANADO & ASSOCIATES - ADVOCATES COMMUNAUTÉ URBAINE DE Shamila Jayasekera Désiré Sidibé Jeanette Ciantar Dion Buhagiar Said NOUAKCHOTT KPMG ETUDE ME CELINE CAMARA SIB FENECH & FENECH ADVOCATES SMS LOGISTICS Wedou Mohamed Laila Manik Toumani Sidibe Edward Dalmas Claude Sapiano MAURIHANDLING SHAH, HUSSAIN & CO. BARRISTERS & MINISTÈRE DES AFFAIRES ETRANGÈRES ATTORNEYS MALTA FINANCIAL SERVICES AUTHORITY LAND REGISTRY ET DE LA COOPÉRATION INTERNATIONALE Bekaye Ould Abdelkader (MFSA) Albert Scerri MINISTÈRE DE LA FONCTION PUBLIQUE, Prasanta Misra Perignama Sylla MINISTRY OF FINANCE DEPARTMENT DU TRAVAIL ET DE LA MODERNISATION PWC MALDIVES ARCHITECT DE/AU Edward DeBono OF CUSTOMS DE L’ADMINISTRATION FENECH & FENECH ADVOCATES Abdul Samad Mohamed Dominique Taty Sergio Ebejer Joseph Scicluna Mine Ould Abdoullah SMD AUDIT & CONSULTANCY PWC CÔTE D’IVOIRE INLAND REVENUE DEPARTMENT SCICLUNA & ASSOCIATES CABINET D’AVOCAT OULD ABDOULLAH Ahmed Murad Imirane A. 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S.C., MEMBER OF DELOITTE TOUCHE LANDA, S.C. KROSS BORDER TRUST SERVICES TOHMATSU LIMITED Marco Nava LTD. - MEMBER OF RUSSELL BEDFORD PWC MEXICO Jaime A. Treviño Mauricio Garza Bulnes INTERNATIONAL J.A. TREVIÑO ABOGADOS J.A. TREVIÑO ABOGADOS S.A. DE C.V. 248 DOING BUSINESS 2013 Maribel Trigo Aja Serghei Filatov Telenged Baast Savo Djurović Fassi-Fihri Bassamat GOODRICH, RIQUELME Y ASOCIADOS ACI PARTNERS LAW OFFICE MONLOGISTICS WORLDWIDE LLC ADRIATIC MARINAS D.O.O. BASSAMAT & ASSOCIÉE Rafael Vallejo Iulia Furtuna Bolortsogoo Baldandorj Dragan Draca Hamid Ben Elfadil GONZALEZ CALVILLO, S.C. TURCAN CAZAC ULAANBAATAR ELECTRICITY PWC SERBIA CENTRE RÉGIONAL D’INVESTISSEMENT DISTRIBUTION NETWORK COMPANY Layla Vargas Muga Ana Galus Vuk Drašković Said Benjelloun GOODRICH, RIQUELME Y ASOCIADOS TURCAN CAZAC Buyantogos Baljinnyam BOJOVIĆ DAŠIĆ KOJOVIĆ ABOUAKIL, BENJELLOUN & MAHFOUD ANDERSON AND ANDERSON LLP AVOCATS Jose Villa Ramirez Roger Gladei Božidar Gogić COMAD, S.C. 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ETUDE DE NOTARIAT MODERNE Aelita Orhei Undram Lhagvasuren Quirino Loyola Nenad Pavličić Sarah El Couhen GLADEI & PARTNERS ANAND & BATZAYA ADVOCATES FOREIGN INVESTMENT BOARD, POHNPEI PAVLIČIĆ LAW OFFICE ETUDE DE NOTARIAT MODERNE LAW FIRM STATE GOVERNMENT Vladimir Palamarciuc Nikola Perović Driss Ettaki TURCAN CAZAC Zolbayar Luvsansharav Sisananto Loyola PLANTAŽE ADMINISTRATION DES DOUANES ET TSETS POHNPEI STATE ENVIRONMENTAL Ilona Panurco IMPOTS INDIRECTS PROTECTION AGENCY Uros Popovic INTREPRINDEREA CU CAPITAL STRAIN Daniel Mahoney BOJOVIĆ DAŠIĆ KOJOVIĆ Youssef Fassi Fihri PRICEWATERHOUSECOOPERS LEGAL SRL MAHONEY LIOTTA Silberio S. 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ARLEX CONSULTING SERVICES EPCG AD NIKŠIĆ Mariana Stratan KETTANI ASSOCIÉS Brian Arnold TURCAN CAZAC Jelena Vojinović MONTENEGRO Nabyl Lakhdar PWC MOLDOVA MINISTRY OF FINANCE ADMINISTRATION DES DOUANES ET Ruslan Surugiu Aleksandar Adamovic Victor Burac NATIONAL ENERGY REGULATORY Saša Vujačić IMPOTS INDIRECTS PACORINI MONTENEGRO VICTOR BURAC LAW FIRM AGENCY OF THE REPUBLIC OF MOLDOVA LAW OFFICE VUJAČIĆ Béatrice Larrègle Bojana Andrić Andrei Caciurenco Elena Talmazan Jelena Vujisić EXPERIAN ČELEBIĆ ACI PARTNERS LAW OFFICE SC CONTABIL PRINCIPAL SRL LAW OFFICE VUJAČIĆ Amine Mahfoud Veselin Anđušić Octavian Cazac Alexander Tuceac Lana Vukmirovic-Misic AMINE MAHFOUD NOTAIRE ČELEBIĆ TURCAN CAZAC TURCAN CAZAC HARRISONS SOLICITORS Anis Mahfoud Marija Bojović Svetlana Ceban Alexander Turcan Sandra Zdravkovic ABOUAKIL, BENJELLOUN & MAHFOUD BOJOVIĆ DAŠIĆ KOJOVIĆ PWC MOLDOVA TURCAN CAZAC MONTECCO INC D.O.O. AVOCATS Bojana Bošković Vitalie Ciofu Tatiana Vasiliu Noureddine Marzouk MINISTRY OF FINANCE MOROCCO GLADEI & PARTNERS VERNON DAVID & ASSOCIATES PWC ADVISORY MAROC Dragan Ćorac Sidimohamed Abouchikhi Vera Coslet Abdelkhalek Merzouki MONGOLIA LAW OFFICE VUJAČIĆ EXPERIAN VICTOR BURAC LAW FIRM ADMINISTRATION DES DOUANES ET PWC MONGOLIA Marija Crnogorac Lamya Alami IMPOTS INDIRECTS Sergiu Dumitrasco KN KARANOVIĆ & NIKOLIĆ CABINET DE NOTAIRE ALAMI PWC MOLDOVA Munkhjargal Baashuu Kamal Nasrollah GTS ADVOCATES LLC AUGUST & DEBOUZY AVOCATS ACKNOWLEDGMENTS 249 Nesrine Roudane Vítor Marques da Cruz Brigitte Nependa Mahesh Kumar Thapa Rutger Schimmelpenninck NERO BOUTIQUE LAW FIRM FCB&A IN ASSOCIATION WITH LAW & H.D. BOSSAU & CO. SINHA - VERMA LAW CONCERN HOUTHOFF BURUMA MARK, ADVOGADOS E CONSULTORES Laetitia Saulais Riana Oosthuizen Stéphanie Spoelder LAW & MARK, LDA NETHERLANDS AUGUST & DEBOUZY AVOCATS BDO SPENCER STEWARD (NAMIBIA) BAKER & MCKENZIE João Martins MUNICIPALITY - SOUTH DISTRICT Ghalia Sebti Axel Stritter Michiel Stoove PWC MOZAMBIQUE OFFICE AIT MANOS ENGLING, STRITTER & PARTNERS BOSSELAAR & STRENGERS ADVOCATEN Gonçalo Meneses Joost Achterberg Houcine Sefrioui Andreas Vaatz Natusia Szeliga CARLOS DE SOUSA E BRITO & KENNEDY VAN DER LAAN ETUDE DE NOTARIAT MODERNE ANDREAS VAATZ & PARTNERS BAKER & MCKENZIE ASSOCIADOS Jan Biemans Nadia Tajouidi Hugo Van den Berg Fedor Tanke Monica Moti Guerra DE BRAUW BLACKSTONE WESTBROEK ETUDE DE NOTARIAT MODERNE KOEP & PARTNERS BAKER & MCKENZIE CGA & ASSOCIADOS, ADVOGADOS Karin W.M. Bodewes Marc Veuillot Ockhuizen Welbert Maarten Tinnemans Álvaro Pinto Basto BAKER & MCKENZIE CMS BUREAU FRANCIS LEFEBVRE NAMIBIA WATER CORPORATION DE BRAUW BLACKSTONE WESTBROEK CGA - COUTO, GRAÇA E ASSOCIADOS, (NAMWATER) Sytso Boonstra Khalil Yassir SOCIEDADE DE ADVOGADOS Jaap Jan Trommel PWC NETHERLANDS YASSIR KHALIL STUDIO Renate Williamson NAUTADUTILH ATTORNEYS Malaika Ribeiro KOEP & PARTNERS Roland Brandsma PWC MOZAMBIQUE Annet van Balen MOZAMBIQUE PWC NETHERLANDS BOSSELAAR & STRENGERS ADVOCATEN Bilal Ismail Seedat NEPAL ELECTRICIDADE DE MOÇAMBIQUE E.P. Martin Brink B’ILM CONSULTING Helene van Bommel Anil Chandra Adhikari VAN BENTHEM & KEULEN NV Eunice Ali PWC NETHERLANDS Paula Castro Silveira CREDIT INFORMATION BUREAU LTD. 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PWC TUNISIA ACKNOWLEDGMENTS 265 Serra Başoğlu Gürkaynak Gunhan Gonul Gokhan Ozmen Izzet Zakuto Kassim Ngude MEHMET GÜN & PARTNERS ÇAKMAK AVUKATLIK BÜROSU BIRSEL LAW OFFICES SOMAY HUKUK BÜROSU Diana Ninsiima Ayça Bayburan Zeki Gunduz Özlem Özyiğit Serap Zuvin MMAKS ADVOCATES ADMD LAW FIRM PWC TURKEY YASED - INTERNATIONAL INVESTORS SERAP ZUVIN LAW OFFICES James Kagiri Njoroge ASSOCIATION Pelin Baysal Remzi Orkun Guner PRICE & KING CERTIFIED PUBLIC MEHMET GÜN & PARTNERS ADMD LAW FIRM Serkan Pamukkale UGANDA ACCOUNTANTS BIRSEL LAW OFFICES ERNST & YOUNG Nergis Beşiroğlu Ömer Gürbüz Eddie Nsamba-Gayiiya CERRAHOĞLU LAW FIRM MEHMET GÜN & PARTNERS Ahmed Pekin Claire Amanya CONSULTANT SURVEYORS AND PEKIN & PEKIN KAMPALA ASSOCIATED ADVOCATES PLANNERS Ayşe Eda Biçer Ayşegül Gürsoy ÇAKMAK AVUKATLIK BÜROSU CERRAHOĞLU LAW FIRM Ferhat Pekin Leria Arinaitwe William Okello PEKIN & BAYAR LAW FIRM SEBALU & LULE ADVOCATES AND LEGAL Taner Gokmen Bolayir Gülşah Güven Silver Adowa Owaraga CONSULTANTS SERAP ZUVIN LAW OFFICES DÜLGER LAW FIRM Çağatay Pekyorur MAGEZI, IBALE & CO. 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ISRAEL 268 DOING BUSINESS 2013 URUGUAY Diego Galante Dolores Storace Nizomiddin Shakhabutdinov Lynne H. Glass Isabel Abarno GALANTE & MARTINS ARCIA STORACE FUENTES MEDINA LEGES ADVOKAT LAW FIRM DESPACHO DE ABOGADOS MIEMBROS DE OLIVERA ABOGADOS ABOGADOS NORTON ROSE, S.C. Pablo Galmarini Petros Tsakanyan Juan Achugar GALMARINI Alejandro Taranto AZIZOV & PARTNERS Ybeth Gonzalez BANCO CENTRAL DEL URUGUAY ESTUDIO TARANTO BAKER & MCKENZIE Enrique Garcia Pini Aziz Turdibaev Marta Alvarez ADMINISTRACIÓN NACIONAL DE USINAS Maria Jose Tegiacchi M&M Andres Gonzalez Crespo Y TRANSMISIÓN ELÉCTRICA (UTE) JIMÉNEZ DE ARÉCHAGA, VIANA & CASAS RINCON GONZALEZ RUBIO & ADMINISTRACIÓN NACIONAL DE USINAS Nodir Yuldashev Y TRANSMISIÓN ELÉCTRICA (UTE) BRAUSE ASOCIADOS Nelson Alfredo Gonzalez GRATA LAW FIRM Bernardo Amorín SDV URUGUAY Ana Inés Terra Diego Gonzalez Crespo OLIVERA ABOGADOS ESTUDIO BERGSTEIN VANUATU CASAS RINCON GONZALEZ RUBIO & Andrés Hessdörfer ASOCIADOS Sebastián Arcia ARCIA STORACE FUENTES MEDINA Evangelina Torres DEPARTMENT OF ENVIRONMENTAL ARCIA STORACE FUENTES MEDINA ABOGADOS JIMÉNEZ DE ARÉCHAGA, VIANA & PROTECTION & CONSERVATION Enrique Gonzalez Rubio ABOGADOS BRAUSE (DEPC) CASAS RINCON GONZALEZ RUBIO & Marcela Hughes ASOCIADOS Cecilia Arias HUGHES & HUGHES Augusto Tricotti ENTREPRISE DINH VAN TU GUYER & REGULES, MEMBER OF LEX SOFTRON Andres Felipe Guevara Maria Ibarra FR8 LOGISTICS LTD. MUNDI BAKER & MCKENZIE STAVROS MOYAL Y ASOCIADOS Juan Ignacio Troccoli VANUATU FINANCIAL SERVICES Alicia Badanian - MEMBER OF RUSSELL BEDFORD FISCHER & SCHICKENDANTZ Alfredo Hurtado COMMISSION ESTUDIO BERGSTEIN INTERNATIONAL HURTADO ESTEBAN & ASOCIADOS Diego Viana Barry Amoss - MEMBER OF RUSSELL BEDFORD Fernando Bado Ignacio Imas JIMÉNEZ DE ARÉCHAGA, VIANA & SOUTH SEA SHIPPING LTD. INTERNATIONAL ESTUDIO DR. MEZZERA FERRERE ABOGADOS BRAUSE Loïc Bernier Maigualida Ifill Pablo Balao Gay Ariel Imken Gerardo Viñoles CAILLARD & KADDOUR PWC VENEZUELA PANALPINA WORLD TRANSPORT SUPERINTENDENCIA DE SERVICIOS VIÑOLES ARQUITECT STUDIO FINANCIEROS - BANCO CENTRAL DEL Andy Cottam Enrique Itriago Martín Balmaceda URUGUAY UZBEKISTAN NATIONAL BANK OF VANUATU RODRIGUEZ & MENDOZA ESTUDIO BERGSTEIN Alfredo Inciarte Blanco GLOBALINK LOGISTICS GROUP Frederic Derousseau Gabriela Longo Leticia Barrios Bentancourt ESTUDIO PÉREZ DEL CASTILLO, INCIARTE, VATE ELECTRICS PALACIOS, ORTEGA Y ASOCIADOS ESTUDIO BERGSTEIN PWC MONGOLIA GARI ABOGADOS David Hudson Ana Lugo Ady Beitler PWC UZBEKISTAN Richard Iturria HUDSON & SUGDEN HOET PELAEZ CASTILLO & DUQUE ESTUDIO BERGSTEIN BADO, KUSTER, ZERBINO & RACHETTI UZBEKENERGO Jonathan Law Maritza Meszaros Juan Bonet Elías Mantero Askar K. Abdusagatov LAW PARTNERS BAKER & MCKENZIE GUYER & REGULES, MEMBER OF LEX OLIVERA ABOGADOS OOO PROGRESS-DEVELOPMENT MUNDI Colin B. 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Frederick Burke Milton Lawson Cristian Predan Nizam Ayoob BAKER & MCKENZIE FRESHFIELDS BRUCKHAUS DERINGER Khaled Hassan Zaid Truong Nhat Quang MINISTRY OF NATIONAL ECONOMY YEMEN CHAMBER OF SHIPPING Samantha Campbell Anh Tuan Le YKVN Ali Faroun GIDE LOYRETTE NOUEL, MEMBER OF CREDIT INFORMATION CENTRE - STATE Nguyen Que Tam PALESTINIAN MONETARY AUTHORITY ZAMBIA LEX MUNDI BANK OF VIETNAM CHEN SHAN & PARTNERS George Handal Chewe K. Bwalya Giles Thomas Cooper Phuc Le Hong Yee Chung Seck BETHLEHEM FREIGHT D.H. KEMP & CO. DUANE MORRIS LLC LUATVIET - ADVOCATES & SOLICITORS BAKER & MCKENZIE Samir Hulileh Mwelwa Chibesakunda Thi Thu Quyen Dang Thuy Le Nguyen Huy Chau Ta PADICO HOLDINGS CHIBESAKUNDA & COMPANY, MEMBER EPLEGAL INDOCHINE COUNSEL DFDL MEKONG LAW GROUP OF DLA PIPER GROUP Hiba I. Husseini Trong Hieu Dang Phuoc Le Van Tran Thi Than Niem HUSSEINI & HUSSEINI Sydney Chisenga VISION & ASSOCIATES HO CHI MINH CITY POWER DFDL MEKONG LAW GROUP CORPUS LEGAL PRACTITIONERS CORPORATION (EVN HCMC) Mohamed Khader Nguyen Dang Viet Le Thi Nhat Linh LAUSANNE TRADING CONSULTANTS Emmanuel Chisenga Chulu BIZCONSULT LAW FIRM Le Thi Loc BAN MAI CO. LTD. PWC ZAMBIA YKVN Zahi Khouri Van Dinh Thi Quynh Nhung Thieu Hong NATIONAL BEVERAGES COMPANY Eddie Musonda Chunga PWC VIETNAM Nguyen Phan Manh Long PWC VIETNAM MINISTRY OF LAND HUNG & PARTNERS Munib Masri Linh Do Tan Heng Thye PADICO HOLDINGS Harjinder Dogra KTC ASSURANCE & BUSINESS Tien Ngoc Luu CHEN SHAN & PARTNERS PWC ZAMBIA ADVISORS - MEMBER OF RUSSELL VISION & ASSOCIATES Nabil A. Mushahwar BEDFORD INTERNATIONAL Antoine Toussaint LAW OFFICES OF NABIL A. Arshad A. 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Katsande THE STONE/BEATTIE STUDIO SPEARTEC Unity Sakhe ZIMBABWE ELECTRICITY TRANSMISSION Jim McComish KANTOR & IMMERMAN Tim Boulton & DISTRIBUTION COMPANY PEARCE MCCOMISH ARCHITECTS Ostern Mutero MANICA AFRICA PTY. LTD. SAWYER & MKUSHI Peter Lloyd GILL, GODLONTON & GERRANS WWW.DOINGBUSINESS.ORG Doin D oing B Bu nes usin ss CO MP AR COMPARING REGULATION IN 183 ECONOMIES Doing business in a ING more transparent world REG UL ATI DOING ON IN BUSINESS 2013 175 ECO NO Smarter Regulations for MIE Small and Medium-Size Enterprises S bs 2011 ti ng Jo 2007 2004 a C re 2010 C O M PA R I N G R E G U L AT I O N F O R D O M E S T I C F I R M S I N 1 8 3 E C O N O M I E S 2008 2006 2013 COMPARING BUSINESS REGULATIONS FOR DOMESTIC FIRMS IN 185 ECONOMIES 10TH EDITION ISBN 978-0-8213-9615-5 SKU 19615