No. 1: New Zealand
This is the second consecutive year that New Zealand has come first in the World Bank Ranking. After registering a company name online, entrepreneurs can apply for tax-related accounts and incorporate the company at the same time.
(CNN) - - The World Bank’s most recent report that ranks
economies for ease of doing business has found New Zealand to be the easiest
place to start a small and medium – sized enterprise. The rankings look at 185
economies around the world.
In measuring how easy it is to start a limited liability
company, the report looks at how many steps are officially required or commonly
done be entrepreneurs, as well as how many days it takes to go through those
procedures. The report also factors in the cost and the minimum capital
required, with 0% income per capita being best. In New Zealand, it takes only
one step and one day, the ideal number, to incorporate a company. Someone who
wants to open a business just has to apply for registration online.
According to the report, the process costs 163.55 New
Zealand dollars (US$ 129) and does not have a minimum capital requirement. By contrast,
the U.S. ranks 13, needing six steps in order to start a start a business with
no minimum capital. The report based the U.S statistics on requirements in New
York City, as it used the largest business city of each country it studied.
No. 2: Australia
Australia made starting a business cheaper a few years ago by lowering the registration fees. it now costs 426 Australia dollars (US$ 390).
No. 3: Canada
Starting a business in canada takes one application, and five days for the company to receive the business number, according to the report.
No. 4: Singapore
one of the three steps of starting a business in Singapore is the traditional requirement of making a company seal, an ink stamp used as a signature on numerous documents.
No. 5: Macedonia
Over the past five years, Macedonia has simplified the process of establishing a business by lowering capital requirements, reducing application procedures and time, improving its online one-stop shop.
No. 6: Hong Kong
In addition to registration the company and creating a rubber stamp, Hong Kong requires companies to sign up for an insurance policy and for the local pension fund.
No. 7: Georgia
Georgia has removed layers of red tape in recent years, now requiring registration and opening a bank account, which are expected to take two days.
No. 8: Rwanda
Although it is not particularly easy to do business in Rwanda overall, it is relatively simple to start a company. the only requirement is registering the business, which is free of charge if it is done online, and the certificate is ready in one to three days.
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No. 9: Belarus
Launching a business in Belarus takes five days. about a third of average time in Eastern Europe and Central Asia. it also does not require entrepreneurs put in a minimum capital.
No. 10: Ireland
The first step in opening a business in ireland is for a company funder to swear that the company has complied with relevant laws.
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