Doing business in a more transparent world

2012 Doing business in a more transparent world COMPARING REGULATION FOR DOMESTIC FIRMS IN 183 ECONOMIES

ii DOING BUSINESS 2012 THE DOING BUSINESS WEBSITE Current features News on the Doing Business project http://www.doingbusiness.org Rankings How economies rank from 1 to 183 http://www.doingbusiness.org/rankings Doing Business reforms Short summaries of DB2011 reforms, lists of reforms since DB2008 http://www.doingbusiness.org/reforms Historical data Customized data sets since DB2004 http://www.doingbusiness.org/custom-query Methodology and research The methodology and research papers underlying Doing Business http://www.doingbusiness.org/methodology http://www.doingbusiness.org/research Download reports Access to Doing Business reports as well as subnational and regional reports, reform case studies and customized economy and regional profiles http://www.doingbusiness.org/reports Subnational and regional projects Differences in business regulations at the subnational and regional level http://www.doingbusiness.org/subnational-reports Law library Online collection of laws and regulations relating to business and gender issues http://www.doingbusiness.org/law-library http://wbl.worldbank.org Local partners More than 9,000 specialists in 183 economies who participate in Doing Business http://www.doingbusiness.org/local-partners/ Doing-Business Business Planet Interactive map on the ease of doing business http://rru.worldbank.org/businessplanet

Search Text.. DATA RANKINGS REPORTS METHODOLOGY RESEARCH BUSINESS REFORMS LAW LIBRARY ABOUT US CONTRIBUTORS PRESS Economy Rankings Economies are ranked on their ease of doing business, from 1 183. A high ranking on the ease of doing business index means the regulatory environment is more conducive to the starting and operation of a local firm. This index averages the country's percentile rankings on 10 topics, made up of a variety of indicators, giving equal weight to each topic. The rankings for all economies are benchmarked to June 2011. EXPLORE ECONOMY DATA Ranking Methodology Explanation of how the Ease of Doing Business Index (PDF) and the subindices are calculated. = Subnational Doing Business ranking data available. Rankings by region: select region or Rankings by income: select income or Rankings by population: select grouping PRINT EXCEL Economy Ease of Doing Business Rank Starting a Business Dealing with Construction Permits Getting Electricity Registering Property Getting Credit Protecting Inv estors Paying Taxes Trading Across Borders Enforcing Contracts Resolv ing Insolv ency Singapore 1 4 3 5 14 8 2 4 1 12 2 Hong Kong SAR, China 2 5 1 4 57 4 3 3 2 5 16 New Zealand 3 1 2 31 3 4 1 36 27 10 18 United States 4 13 17 17 16 4 5 72 20 7 15 Denmark 5 31 10 13 11 24 29 14 7 32 9 Norw ay 6 41 60 12 8 48 24 27 9 4 4 United Kingdom 7 19 22 60 68 1 10 24 13 21 6 Korea, Rep. 8 24 26 11 71 8 79 38 4 2 13 Iceland 9 37 34 1 11 40 46 35 81 3 11 Ireland 10 13 27 90 81 8 5 5 21 62 10 Finland 11 39 45 25 25 40 65 28 6 11 5 Saudi Arabia 12 10 4 18 1 48 17 10 18 138 73 Canada 13 3 25 156 41 24 5 8 42 59 3 Sw eden 14 46 23 8 19 48 29 50 8 54 19 Australia 15 2 42 37 38 8 65 53 30 17 17 Georgia 16 7 4 89 1 8 17 42 54 41 109 Thailand 17 78 14 9 28 67 13 100 17 24 51 Malaysia 18 50 113 59 59 1 4 41 29 31 47 Germany 19 98 15 2 77 24 97 89 12 8 36 Japan 20 107 63 26 58 24 17 120 16 34 1 Latvia 21 51 112 84 32 4 65 67 15 17 32 Macedonia, FYR 22 6 61 121 49 24 17 26 67 60 55 Mauritius 23 15 53 44 67 78 13 11 21 61 79 ** Estonia 24 44 89 48 13 40 65 51 3 29 72

Taiw an, China 25 16 87 3 33 67 79 71 23 88 14 Sw itzerland 26 85 46 6 14 24 166 12 41 23 43 Lithuania 27 101 47 81 7 48 65 62 28 15 40 Belgium 28 36 51 87 174 48 17 77 36 20 8 France 29 25 30 62 149 48 79 58 24 6 46 Portugal 30 26 97 34 31 126 46 78 26 22 22 Netherlands 31 79 99 67 48 48 111 43 13 28 7 Austria 32 134 76 21 35 24 133 82 25 9 21 United Arab Emirates 33 42 12 10 6 78 122 7 5 134 151 Israel 34 43 137 93 147 8 5 59 10 94 45 South Africa 35 44 31 124 76 1 10 44 144 81 77 Qatar 36 116 24 18 37 98 97 2 57 95 37 Slovenia 37 28 81 27 79 98 24 87 50 58 39 Bahrain 38 82 7 49 30 126 79 18 49 114 25 Chile 39 27 90 41 53 48 29 45 62 67 110 Cyprus 40 33 78 96 123 78 29 37 19 105 23 Peru 41 55 101 82 22 24 17 85 56 111 100 Colombia 42 65 29 134 51 67 5 95 87 149 12 Puerto Rico (U.S.) 43 12 152 35 126 24 17 113 101 97 27 Spain 44 133 38 69 56 48 97 48 55 54 20 Rw anda 45 8 84 50 61 8 29 19 155 39 165 Tunisia 46 56 86 45 65 98 46 64 32 76 38 Kazakhstan 47 57 147 86 29 78 10 13 176 27 54 Slovak Republic 48 76 50 102 10 24 111 130 95 71 35 Oman 49 68 64 61 21 98 97 9 47 107 76 Luxembourg 50 81 33 63 134 150 122 17 31 1 49 Hungary 51 39 55 103 43 48 122 117 74 19 66 St. Lucia 52 53 13 13 115 98 29 52 110 165 58 Mexico 53 75 43 142 140 40 46 109 59 81 24 Botsw ana 54 90 132 91 50 48 46 22 150 65 28 Armenia 55 10 57 150 5 40 97 153 104 91 62 Montenegro 56 47 173 71 108 8 29 108 34 133 52 Antigua and Barbuda 57 80 21 16 124 98 29 135 71 70 81 Tonga 58 33 32 29 141 78 111 29 77 53 108 Bulgaria 59 49 128 133 66 8 46 69 91 87 90 Samoa 60 22 68 32 26 126 29 66 96 80 145 Panama 61 29 71 15 120 48 111 169 11 119 83 Poland 62 126 160 64 89 8 46 128 46 68 87 Ghana 63 104 156 68 36 48 46 90 90 45 106 Czech Republic 64 138 68 148 34 48 97 119 70 78 33 Dominica 65 48 18 65 116 78 29 73 88 167 98

Dominica 65 48 18 65 116 78 29 73 88 167 98 Azerbaijan 66 18 172 173 9 48 24 81 170 25 95 Kuw ait 67 142 121 57 88 98 29 15 112 117 48 Trinidad and Tobago 68 74 93 24 175 40 24 65 52 169 133 Belarus 69 9 44 175 4 98 79 156 152 14 82 Kyrgyz Republic 70 17 62 181 17 8 13 162 171 48 150 Turkey 71 61 155 72 44 78 65 79 80 51 120 Romania 72 63 123 165 70 8 46 154 72 56 97 Grenada 73 60 11 39 154 98 29 91 40 162 119 Solomon Islands 74 110 36 42 168 78 46 25 86 108 115 St. Vincent and the Grenadines 75 58 6 21 141 126 29 73 38 101 183 Vanuatu 76 114 40 147 111 78 79 32 128 71 53 Fiji 77 119 73 110 52 67 46 80 113 64 126 Namibia 78 125 52 105 145 24 79 102 142 40 56 Maldives 79 59 20 132 152 166 79 1 137 92 41 Croatia 80 67 143 56 102 48 133 32 100 48 94 Moldova 81 88 164 160 18 40 111 83 134 26 91 Albania 82 61 183 154 118 24 16 152 76 85 64 Brunei Darussalam 83 136 83 28 107 126 122 20 35 151 44 Zambia 84 69 148 118 96 8 79 47 153 85 96 Bahamas, The 85 73 79 105 177 78 111 56 48 123 34 Mongolia 86 97 119 171 26 67 29 57 159 33 124 Italy 87 77 96 109 84 98 65 134 63 158 30 Jamaica 88 23 49 112 103 98 79 172 97 126 26 Sri Lanka 89 38 111 95 161 78 46 173 53 136 42 Uruguay 90 32 153 7 165 67 97 160 125 103 50 China 91 151 179 115 40 67 97 122 60 16 75 Serbia 92 92 175 79 39 24 79 143 79 104 113 Belize 93 152 9 53 137 98 122 55 107 168 29 Morocco 94 93 75 107 144 98 97 112 43 89 67 St. Kitts and Nevis 95 64 16 33 164 126 29 133 44 114 183 Jordan 96 95 93 36 101 150 122 21 58 130 104 Guatemala 97 165 151 30 23 8 133 124 119 97 101 Vietnam 98 103 67 135 47 24 166 151 68 30 142 Yemen, Rep. 99 66 35 52 55 159 133 116 118 38 114 Greece 100 135 41 77 150 78 155 83 84 90 57 Papua New Guinea 101 84 138 20 87 98 46 106 99 163 116 Paraguay 102 106 66 23 64 78 65 132 154 106 140 Seychelles 103 113 54 149 63 166 65 16 33 84 183

Seychelles 103 113 54 149 63 166 65 16 33 84 183 Lebanon 104 109 161 47 105 78 97 30 93 120 125 Pakistan 105 90 104 166 125 67 29 158 75 154 74 Marshall Islands 106 52 8 76 183 78 155 96 66 63 135 Nepal 107 100 140 99 24 67 79 86 162 137 112 Dominican Republic 108 140 105 123 105 78 65 94 45 83 154 Kenya 109 132 37 115 133 8 97 166 141 127 92 Egypt, Arab Rep. 110 21 154 101 93 78 79 145 64 147 137 Ethiopia 111 99 56 93 113 150 122 40 157 57 89 El Salvador 112 136 144 130 54 48 166 146 69 66 88 Argentina 113 146 169 58 139 67 111 144 102 45 85 Guyana 114 87 28 144 104 166 79 115 82 73 138 Kiribati 115 141 106 159 69 159 46 6 85 75 183 Palau 116 124 39 80 20 182 174 97 124 144 61 Kosovo 117 168 171 124 73 24 174 46 131 157 31 Nicaragua 118 130 150 136 122 98 97 155 83 52 78 Cape Verde 119 131 116 70 61 126 133 104 61 37 183 Russian Federation 120 111 178 183 45 98 111 105 160 13 60 Costa Rica 121 122 141 43 46 98 166 138 73 129 121 Bangladesh 122 86 82 182 173 78 24 100 115 180 107 Uganda 123 143 109 129 127 48 133 93 158 116 63 Sw aziland 124 161 47 158 128 48 122 60 148 171 69 Bosnia and Herzegovina 125 162 163 157 100 67 97 110 108 125 80 Brazil 126 120 127 51 114 98 79 150 121 118 136 Tanzania 127 123 176 78 158 98 97 129 92 36 122 Honduras 128 150 70 114 94 8 166 140 103 177 131 Indonesia 129 155 71 161 99 126 46 131 39 156 146 Ecuador 130 164 91 128 75 78 133 88 123 100 139 West Bank and Gaza 131 177 129 85 78 166 46 39 114 93 183 India 132 166 181 98 97 40 46 147 109 182 128 Nigeria 133 116 84 176 180 78 65 138 149 97 99 Syrian Arab Republic 134 129 133 83 82 174 111 111 122 175 102 Sudan 135 126 130 107 41 166 155 103 151 148 84 Philippines 136 158 102 54 117 126 133 136 51 112 163 Madagascar 137 20 131 179 146 177 65 75 111 155 148 Cambodia 138 171 149 130 110 98 79 54 120 142 149

Cambodia 138 171 149 130 110 98 79 54 120 142 149 Mozambique 139 70 126 172 156 150 46 107 136 131 143 Micronesia, Fed. Sts. 140 102 19 40 183 126 174 92 106 146 164 Sierra Leone 141 72 167 174 169 126 29 76 132 141 155 Bhutan 142 83 135 145 83 126 147 67 169 35 183 Lesotho 143 144 157 141 150 150 147 61 147 102 71 Iran, Islamic Rep. 144 53 164 162 163 98 166 126 138 50 118 Malaw i 145 139 167 177 95 126 79 23 164 121 132 Mali 146 115 95 113 91 126 147 163 146 132 111 Tajikistan 147 70 177 178 90 177 65 168 177 42 68 Algeria 148 153 118 164 167 150 79 164 127 122 59 Gambia, The 149 120 88 127 119 159 174 178 78 69 129 Burkina Faso 150 116 59 139 111 126 147 147 175 108 103 Liberia 151 35 123 153 176 98 147 98 116 166 158 Ukraine 152 112 180 169 166 24 111 181 140 44 156 Bolivia 153 169 107 124 138 126 133 179 126 135 65 Senegal 154 93 125 168 171 126 166 174 65 145 86 Equatorial Guinea 155 178 100 88 80 98 147 167 134 74 183 Gabon 156 156 58 137 134 98 155 141 133 150 144 Comoros 157 172 74 100 74 150 133 99 139 153 183 Suriname 158 173 98 38 170 159 181 34 105 178 157 Mauritania 159 159 64 122 59 166 147 175 143 79 152 Afghanistan 160 30 162 104 172 150 183 63 179 161 105 Cameroon 161 128 92 66 154 98 122 171 156 174 147 Togo 162 174 146 92 162 126 147 161 98 151 93 São Tomé and Príncipe 163 105 134 74 160 177 155 113 94 179 159 Iraq 164 176 120 46 98 174 122 49 180 140 183 Lao PDR 165 89 80 138 72 166 182 123 168 110 183 Uzbekistan 166 96 145 170 136 159 133 157 183 43 117 Côte d'ivoire 167 170 169 73 158 126 155 159 161 124 70 Timor-Leste 168 157 114 55 183 159 133 31 89 183 183 Burundi 169 108 159 151 109 166 46 125 174 172 183 Djibouti 170 179 142 143 148 177 179 70 37 160 141 Zimbabw e 171 144 166 167 85 126 122 127 172 112 153 Angola 172 167 115 120 129 126 65 149 163 181 160 Niger 173 163 158 111 86 126 155 142 173 139 123 Haiti 174 180 139 75 131 159 166 118 145 96 162 Benin 175 154 117 140 130 126 155 170 129 176 127 Guinea-Bissau 176 149 107 180 179 126 133 137 117 142 183 Venezuela, RB 177 147 109 155 91 182 179 183 166 77 161 Congo, Dem. Rep. 178 148 77 145 121 174 155 165 167 170 166

Guinea 179 181 174 119 152 150 174 176 130 127 130 Eritrea 180 182 183 96 178 177 111 121 165 47 183 Congo, Rep. 181 175 103 152 156 98 155 182 181 159 134 Central African Republic 182 160 136 162 132 98 133 177 182 173 183 Chad 183 183 122 117 143 98 155 180 178 163 183 * For Dealing with Construction Permits, one data point on cost was corrected. Rankings are adjusted once a year with each published report. Additional note: All Doing Business 2011 rankings have been recalculated to reflect changes to the methodology. For further details on changes, please refer to the data notes page. Home Rankings THE WORLD BANK GROUP IBRD IDA IFC MIGA ICSID 2012 The World Bank, All Rights Reserved. Legal Home Contact Us