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Title: doing buissness
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12th edition

Doing Business 2015
Going Beyond Efficiency

Comparing Business Regulations for domestic firms in 189 Economies
A World Bank Group Flagship Report

© 2014 International Bank for Reconstruction and Development / The World Bank
1818 H Street NW, Washington DC 20433
Telephone: 202-473-1000; Internet: www
...
org
Some rights reserved
1 2 3 4 17 16 15 14
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...
The World Bank does not guarantee the accuracy of the data included in this work
...

Nothing herein shall constitute or be considered to be a limitation upon or waiver of the privileges and immunities of The World Bank,
all of which are specifically reserved
...
0 IGO license (CC BY 3
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/licenses/by/3
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Under the Creative Commons Attribution license, you are free to copy, distribute, transmit, and adapt this work,
including for commercial purposes, under the following conditions:
Attribution—Please cite the work as follows: World Bank
...
Doing Business 2015: Going Beyond Efficiency
...
DOI: 10
...
License: Creative Commons Attribution CC BY 3
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Views and opinions expressed in the adaptation are the sole responsibility of the author or
authors of the adaptation and are not endorsed by The World Bank
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The
World Bank therefore does not warrant that the use of any third-party-owned individual component or part contained in the work will
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to re-use a component of the work, it is your responsibility to determine whether permission is needed for that re-use and to obtain
permission from the copyright owner
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All queries on rights and licenses should be addressed to the Publishing and Knowledge Division, The World Bank, 1818 H Street NW,
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ISBN (paper): 978-1-4648-0351-2
ISBN (electronic): 978-1-4648-0352-9
DOI: 10
...


12TH EDITION

Doing Business 2015
Going Beyond Efficiency

COMPARING BUSINESS REGULATIONS FOR DOMESTIC FIRMS IN 189 ECONOMIES
A World Bank Group Flagship Report

Doing Business 2015
Going Beyond Efficiency

Resources on the
Doing Business website
Current features

Law library

News on the Doing Business project
http://www
...
org

Online collection of business laws and
regulations relating to business
http://www
...
org/law-library

Rankings
How economies rank—from 1 to 189
http://www
...
org/rankings

Data
All the data for 189 economies—topic
rankings, indicator values, lists of
regulatory procedures and details
underlying indicators
http://www
...
org/data

Reports
Access to Doing Business reports as well
as subnational and regional reports,
reform case studies and customized
economy and regional profiles
http://www
...
org/reports

Methodology
The methodologies and research papers
underlying Doing Business
http://www
...
org/methodology

Contributors
More than 10,700 specialists in 189
economies who participate in Doing
Business
http://www
...
org
/contributors/doing-business

Entrepreneurship data
Data on business density (number of
newly registered companies per 1,000
working-age people) for 139 economies
http://www
...
org/data
/exploretopics/entrepreneurship

Distance to frontier
Data benchmarking 189 economies to
the frontier in regulatory practice
http://www
...
org/data
/distance-to-frontier

Information on good practices

Abstracts of papers on Doing Business
topics and related policy issues
http://www
...
org/research

Showing where the many good
practices identified by Doing Business
have been adopted
http://www
...
org/data
/good-practice

Doing Business reforms

Doing Business iPhone app

Short summaries of DB2015 business
regulation reforms, lists of reforms since
DB2008 and a ranking simulation tool
http://www
...
org/reforms

Doing Business at a Glance—presenting
the full report, rankings and highlights
for each topic for the iPhone, iPad and
iPod touch
http://www
...
org
/special-features/iphone

Research

Historical data
Customized data sets since DB2004
http://www
...
org/custom-query

Doing Business 2015
Going Beyond Efficiency

Contents
v Foreword
1

Overview

15 About Doing Business
24 What is changing in Doing Business?
33 Reforming the business environment in 2013/14

Case studies
47

Starting a business
The growing efficiency of company registries

53 Zoning and urban planning
Understanding the benefits
60 Registering property
Measuring the quality of land administration systems
67 Getting credit
The importance of registries
76 Protecting minority investors
Going beyond related-party transactions
83 Paying taxes
Trends before and after the financial crisis
90 Enforcing contracts
How judicial efficiency supports freedom of contract
96 Resolving insolvency
Measuring the strength of insolvency laws
102

Highlights from the Doing Business research conference

109

References

114

Data notes

146

Distance to frontier and ease of doing business ranking

152

Summaries of Doing Business reforms in 2013/14

167

Country tables

231 Labor market regulation data
252 Acknowledgments

Doing Business 2015 is the 12th in a
series of annual reports investigating
the regulations that enhance business
activity and those that constrain it
...

Doing Business measures regulations
affecting 11 areas of the life of a
business
...

Doing Business also measures labor
market regulation, which is not included
in this year’s ranking
...
The indicators are
used to analyze economic outcomes
and identify what reforms of business
regulation have worked, where and why
...

Thus when an economy does poorly, a
disproportionate amount of our debate
centers on whether or not it needs a
fiscal stimulus, whether there should be
liquidity easing or tightening, whether
its welfare programs have been too
profligate or too paltry and so on
...

The laws that determine how easily a
business can be started and closed,
the efficiency with which contracts are
enforced, the rules of administration
pertaining to a variety of activities—
such as getting permits for electricity
and doing the paperwork for exports
and imports—are all examples of the
nuts and bolts that are rarely visible
and in the limelight but play a critical
role
...
Just as the Space
Shuttle Challenger broke apart on
takeoff from Cape Canaveral, Florida,
on January 28, 1986, not because (as
was later realized) something major
had gone wrong but because a joint

held together by a circular nut called
the O-ring had failed, an economy can
be brought down or held back by the
failure of its nuts and bolts
...

Creating an efficient and inclusive
ethos for enterprise and business
is in the interest of all societies
...
It can also help
in creating an environment in which
standard macroeconomic policies are
more effective and course through the
economy more easily
...
To leave
everything to the free market can lead
to major economic malfunction and
elevated levels of poverty, and have
us be silent witnesses to, for instance,
discrimination against certain groups
...
To argue that individuals
and private businesses should have
all the freedom to pursue what they

vi

DOING BUSINESS 2015

wish and that government should not
intervene overlooks the fact that government is nothing but the outcome
of individual actions
...
Fortunately,
market fundamentalism has, for the
most part, been relegated to the margins of serious policy discourse
...
In any
national economy there are too many
decisions to be made, and too great a
variety of skills and talents scattered
through society, for any single authority to take effective charge
...
1 But over and
above these, government also has the
critical responsibility to provide a nimble
regulatory setup that enables ordinary
people to put their skills and talents
to the best possible use and facilitates
the smooth and efficient functioning
of businesses and markets
...
There
is no unique way of doing this, and there
are plenty of open conceptual questions
one has to contend with
...

1
...

3
...


SWITCHING SIDES
As an independent researcher and,
later, as Chief Economic Adviser to the
Indian government, I used, criticized,
valued and debated the Doing Business
report, unaware that I would be at the
World Bank one day and hence be
shifted from the side of the consumer
to that of the manufacturer of this
product
...

Its greatest strength is its transparency and adherence to clearly stated
criteria
...
Thus, for instance, when checking on an economy’s efficacy in “enforcing contracts,” it measures the time,
cost and procedures involved in resolving a hypothetical commercial lawsuit
between 2 domestic firms through a
local court
...
This meticulous insistence on
using the same standard everywhere
gives Doing Business a remarkable
comparability across economies
...
It
means that, contrary to what some
people believe, Doing Business is not
based on sample surveys of firms
...
A lot of the Doing Business data
are based on careful collection of de jure
information on what an economy’s laws
and regulations require
...

Nor does the fact that the same measures are collected for all economies
automatically mean that they are the
right measures
...
As Ken Arrow once
pointed out, the medieval English law
under which no one was allowed to sleep
on park benches applied to both paupers and aristocrats, but since the latter
typically did not consider the use of park
benches for napping, it was amply clear
that this horizontally anonymous law
was actually meant for only one class of
people, namely the poor
...

Further, each of these 10 component
indicators is itself an amalgam of
several even more basic measures
...
Questions may indeed
be asked about whether it is right
to give the same weight to different
indicators
...
By this same logic, these irrationalities can be used to promote development and growth
...

This convergent view can increasingly be found in microeconomics books, such as Bowles (2006); Basu (2010); and Ferguson (2013)
...

There is a lot of research on the choice of weights when aggregating and on the algebra of ranking; see, for example, Sen (1977); Basu (1983); and Foster,
McGillivray and Seth (2012)
...
These also
entail weights
...
This is
referred to as the criterion of vectordominance, and its properties have
been studied and are well understood
...

For many pairs of economies it will not
be possible to treat either as ranked
above the other; nor can we, in such
cases, declare the 2 to be equally good
in terms of the ease of doing business
...
A downward line between
2 economies represents dominance, and
2 economies that cannot be connected
by a downward line cannot be compared
with each other
...

7
...


Latvia

Benin

unequivocally ranked above Ireland,
which is ranked above Cyprus and so on
...

Similarly, New Zealand is ranked above
Latvia, which is above Morocco and
Benin, and so on
...
5
It is true that the figure shows only
a small segment of the quasi-order
over the 189 economies; but even if we
showed the full set, the picture would
be populated with pairs of economies
that cannot be ranked
...

When it pronounces judgment, it does
so with great authority, but it achieves
this at the cost of total reticence over
large domains
...

However, all these economies have
an excellent performance on the
Doing Business indicators and in other
international data sets capturing
various dimensions of competitiveness
...
6 Ultimately, Doing

Business is about smart regulations
that only a well-functioning state can
provide
...

To get to an evaluation of this, one has
to make choices, such as what to include
and what to exclude and what weights
to use
...

Excessive taxation, for instance, can
dampen incentives and adversely affect
an economy’s functioning
...
There
are economies where the tax revenue
to GDP ratio is so low that it hampers
the government’s ability to regulate
efficiently, invest in infrastructure and
provide basic health and education
services to the poor
...
Three years ago a
threshold was set such that economies
with tax rates below this threshold are
not rewarded
...

Our attention has been drawn to many
critiques by the Independent Panel
on Doing Business, chaired by Trevor
Manuel, which submitted its report in
2013
...

The Doing Business team is in the midst

This example of vector-dominance is based only on the top 2 economies in this year’s ease of doing business ranking
...
The process was then repeated for Ireland, and so on for all 189 economies
...
Third, all pairs of economies in the figure were compared (for example, the horizontal line between Singapore and Latvia means that
Singapore vector-dominates Latvia and all economies connected with a vertical line under Latvia)
...

The report by the Independent Panel on Doing Business is available on its website at http://www
...
org/
...


STRENGTHS AND
WEAKNESSES
While the 2-year task of improving the
methodology continues, it is worth being
clear that there is no such thing as the
best, all-encompassing indicator
...
Controversy has
often arisen from reading more into
the ranking or indicator than what it
actually captures
...
These
examples are usually nothing more
than a reminder that an economy has
many more aspects than the features
that are tracked and measured by the
Doing Business report
...
The fact that there
are examples of economies that do not
do well on the Doing Business indicators
but continue to receive flows of FDI
shows that private corporations do not
make this mistake; they will decide on
the basis of a range of factors
...


the ease of doing business ranking
were constructed in such a way that
it had a very high correlation with
GDP or GDP growth, there would be
little reason to have a new ranking
...

Second, this question is often rooted in
the common mistake, already noted,
of treating the ease of doing business ranking as an all-encompassing
measure of an economy’s goodness
...
An economy can do poorly on
Doing Business indicators but do well in
macroeconomic policy or social welfare
interventions
...
It attempts to capture a
segment that is representative of other
general features of the economy (and
effort will be made to improve on this),
but the fact remains that an economy
can undo the goodness or badness of
its performance on Doing Business indicators through other policies
...
8 Most
of us value greater equality among
people; the ease of doing business
ranking is not meant to measure success on that scale
...
It is a mistake to treat this as a
criticism of the ease of doing business
ranking; it is simply a reminder that life
is a many-splendored thing, and the
Doing Business report tries to capture
one aspect of the good life
...
” Other things remaining the same, an economy should
try to improve its score underlying the
ease of doing business ranking
...


is important to keep in mind these
caveats, strengths and weaknesses
...
A poor score should alert a
government that it ought to examine
its regulatory structure
...
If
this happens, and there is some evidence
that it does, the Doing Business report
would be serving its purpose
...
This
is a report that can be of great value to
such governments
...

Promoting a well-functioning, competitive private sector is a major undertaking for any government, especially for
one with limited resources and technical capabilities
...
A well-functioning
political system—one in which the government is perceived to be working in the
public interest while managing scarce
resources in a reasonably transparent
way—plays a central role
...
There is
compelling evidence that excessively
burdensome regulations can lead to
large informal and less-productive sectors, less entrepreneurship and lower
rates of employment and growth
...
Ultimately, what the report
does is to provide a table with a simple
ordinal ranking of all 189 economies
...

It was in 2005 that the World Bank
Group management decided to start
ranking economies on the ease of
doing business because it recognized
the value of benchmarking exercises
in generating interest among policy
makers in reform
...
The rankings also proved effective in moving
issues of performance and progress
in business regulation to the center of
policy discussions in a large number
of economies
...

Members of the business community, for instance, could point to the
existence of less complex and costly
procedures or better-functioning institutions in other economies in the region
in their dealings with governments,
9
...


which, by and large, had been slow to
see their own Doing Business data in an
international perspective
...
The overall ranking combines a wealth of information
that serves as a summary measure
and allows governments to benchmark
their economy’s performance against
that of other economies
...
Policy makers frequently
become aware of the measurements
through the ranking but then use the
disaggregated data to shape reform
programs
...
For
example, governments find it useful
to compare their own procedures lists
for firm start-up with those of other
economies that pursue the same goals
with less procedural complexity and at
lower cost
...
When an economy is given a
rank, there is no sense of how far it is
from its closest contenders
...

We know that its closest contenders
are at 94 and 96 and this would be
unchanged no matter how far or how
near those other economies are
...
To see this, consider
an extreme case where 50 economies
have exactly the same scores on the
indicators underlying the ease of doing
business ranking and so each of them
has the same ranking, say 95
...
On an ordinal
ranking scale this will show up as a
seemingly alarming drop, but nothing alarming has actually happened
...

In response to this, there are 2
comments in defense of the methods
used
...
This measure has
certain cardinal qualities because it
tries to capture the actual distance
each economy has to go to reach the
frontier of “best performance
...

Further, the distance to frontier score
can shed light on the progress made
by individual economies over time in
comparison with their own regulatory
practices of previous years
...

Recent Doing Business reports have
given increasing attention to long-term
trends in the data—with an emphasis
on economies’ performance with
respect to their past performance—to
balance the short-term perspective
that the ranking provides
...
This allows
users to construct alternative rankings
with any set of weights they may wish
to attach to individual indicators
...
Here, the
use of ordinal ranks is more problematic because they get absorbed in the
final measure and economies making
small improvements or regressions
in densely packed areas can have a
disproportionate gain or loss in ranking
...
For this reason from this year
we decided to switch from using the ordinal ranks of basic indicators to using
absolute or cardinal measures before
they are aggregated in the final ranking
...
One
is to switch from rankings to ratings,
which would have economies appear in
clusters that are then ranked
...


CONCLUSION
The economy is a complex machine, beyond the full comprehension of any person
...
Nevertheless, one has to approach economic policy making with a
certain humility, keeping an eye on the
fact that what we, all this time, took to
be an established feature of economics
may be open to question
...

The World Bank Group’s Doing Business
initiative is no exception to this
...
It
provides governments, administrators
and researchers with valuable data and
analysis to promote a better regulatory framework for development, job
creation and growth
...
At
the same time, as this foreword has
argued, we are aware that we still have
some distance to go in our understanding of an economy
...
This year’s report is a
small, first step in that direction
...
Some go far, while
others never take off
...
So it is important to understand why some great ideas never
come to fruition even as others thrive
...
They also
need the certainty of a well-designed
insolvency system, in case the idea fails
to work out
...
And
they will need a straightforward way to
pay their taxes
...
The right business
regulations enable good ideas to take
root, leading to the creation of jobs
and to better lives
...
Budding
entrepreneurs, daunted by burdensome regulations, may opt out of doing
business altogether or, if they have the
resources, take their ideas elsewhere
...
Many other dimensions of the business environment
also matter but are outside the scope
of Doing Business
...
Nevertheless,
improving in the areas measured by
Doing Business is an important step
toward a better business environment
for all
...

These improvements provide a new
conceptual framework in which the
emphasis on the efficiency of regulation is complemented by an increased
emphasis on its quality
...

With a few exceptions, the original
Doing Business indicators focused
mainly on measuring efficiency, such as

ƒ This year’s Doing Business report
launches a 2-year process of
introducing improvements in 8 of the
10 Doing Business indicator sets—to
complement the emphasis on the
efficiency of regulation with a greater
emphasis on its quality
...
Insolvency cases
are resolved more quickly, and with
better outcomes, where insolvency laws
are well designed
...
And commercial disputes
are resolved more efficiently by courts
using internationally recognized good
practices
...
The data show
few differences between cities within
economies in indicators measuring the
strength of legal institutions, which
typically apply nationwide
...

ƒ Sub-Saharan Africa accounts for 5 of
the 10 top improvers in 2013/14
...
More
than 70% of its economies carried out at
least one such reform
...


2

Doing Business 2015

by recording the procedures, time and
cost to start a business or to transfer
property
...
But as the project’s importance grew, it became clear
that there was a need to expand what
was being measured to include more
aspects of regulatory quality
...
1 They also benefited
from discussions at the Doing Business
research conference held in Washington,
DC, in February 2014
...
)
Doing Business continues to focus on
regulations that affect domestic small
and medium-size enterprises, operating in the largest business city of an
economy, across 10 areas: starting a
business, dealing with construction
permits, getting electricity, registering
property, getting credit, protecting
minority investors, paying taxes, trading across borders, enforcing contracts
and resolving insolvency
...
The indicator
sets for 3 of the 10 topics are being
expanded in this year’s report; those
for 5 others will be expanded in next
year’s report (figure 1
...

In another change starting in this year’s
report, Doing Business has extended its
coverage to include the second largest business city in economies with a
population of more than 100 million
...

In addition, while Doing Business continues to publish the ease of doing business
ranking, this year’s report introduces a
change in the basis for the ranking, from

the percentile rank to the distance to
frontier score
...
2
This measure captures more information than the simple rankings previously
used as the basis for the ease of doing
business ranking because it shows not
only how economies are ordered on their
performance on the indicators but also
how far apart they are
...
An
example at the global level suggests
why: the time series of the distance to
frontier scores overwhelmingly shows
improvements in business regulations
around the world, while in the ease
of doing business ranking, for every
economy that goes up another must go
down
...
)
While the changes being implemented
this year are substantive, there is a

strong correlation at the aggregate
level between this year’s data under the
old methodology and the same data
under the new one (figure 1
...
This is not
surprising, since changes are being introduced for only 3 of the 10 topics this
year
...
This is particularly likely for economies in the middle
of the distribution, in part because they
are more closely bunched and small
shifts in their distance to frontier scores
will therefore tend to have a greater impact on their positions relative to other
economies
...

The Doing Business website presents
comparable data for this year and last,
making it possible to assess the extent
to which there has been an improvement in business regulation in any
economy as tracked by the distance
to frontier measure
...
The full series are available on the
website
...
1 What Doing Business continues to cover and what it is adding

What
Doing Business
continues
to cover

What
this year’s
report adds

What
next year’s
report will add

• Procedures, time, cost and paid-in minimum capital to start a business
• Procedures, time and cost to complete all formalities to build a warehouse
• Procedures, time and cost to get connected to the electrical grid
• Procedures, time and cost to transfer a property
• Movable collateral laws and credit information systems
• Minority shareholders’ rights in related-party transactions
• Payments, time and total tax rate for a firm to comply with all tax regulations
• Documents, time and cost to export and import by seaport
• Procedures, time and cost to resolve a commercial dispute
• Time, cost, outcome and recovery rate for a commercial insolvency
• More features on the strength of legal rights and depth of credit information
• More features on minority shareholders’ rights
• A measure of the strength of the legal framework for insolvency
• An additional city in the 11 economies with a population of more than 100 million
• Ease of doing business ranking based on the distance to frontier score
• Measures of the quality of building regulations
• Measures of the reliability of the electricity supply
• Measures of the quality of the land administration system
• Measures of the postfiling process in paying taxes
• Measures of the quality of the judicial administration system

OVERVIEW

WHERE ARE REGULATIONS
MORE BUSINESS-FRIENDLY?

Singapore continues to be the economy
with the most business-friendly regulations (table 1
...
And while there was
some reordering of economies within
the top 20 in the ease of doing business
ranking, the list remains very similar to
last year’s: 17 economies stayed on the
list, while 3 entered this year—Estonia,
Germany and Switzerland
...
For example,
Switzerland made starting a business
easier by introducing online procedures
and strengthened minority investor
protections by increasing the level of
transparency required from listed companies
...
The system provides
comprehensive coverage, allowing users to conduct searches and file registrations from anywhere in the country
...
The economies
performing best in the Doing Business
rankings therefore are not those with
no regulation but those whose governments have managed to create rules
that facilitate interactions in the marketplace without needlessly hindering
the development of the private sector
...
For example, in a sample
of 78 mostly low- and lower-middleincome economies the distance to
frontier score is strongly correlated
with the International Development
Association (IDA) Resource Allocation
Index, which measures the quality of

a country’s policies and institutional
arrangements
...
3)
...


FIGURE 1
...
The differences between the 2
series are in protecting minority investors, resolving insolvency, the depth of credit information index in getting credit and the
distance to frontier calculation for the total tax rate in paying taxes
...
The 45-degree line shows where the scores under the old and new methodologies are
equal
...
99
...
1 in the chapter on what is changing in Doing Business
...


FIGURE 1
...
27

86
...
46

76
...
81

72
...
67

66
...
57

40

63
...
55

60
...
23

41
...
81
61
...
56

51
...
16
33
...
35

20

0

OECD high Europe & East Asia &
Latin
Middle
income Central Asia
Pacific
America & East & North
Caribbean
Africa
Worst score

Source: Doing Business database
...
1 Ease of doing business ranking
Rank
1
2
3
4
5
6
7
8

Economy

DTF score

Rank

Singapore
New Zealand
Hong Kong SAR, China
Denmark
Korea, Rep
...
27
86
...
97
84
...
40
82
...
98

64
65
66
67
68
69
70

Economy

DTF score

Rank

Cyprus
Croatia
Oman
Samoa
Albania
Tonga
Ghana

66
...
53
66
...
17
66
...
72
65
...

Tanzania
Ethiopia
Papua New Guinea

DTF score
56
...
64
56
...
51
56
...
31
55
...
96

71

Morocco

65
...
48

9
10
11
12
13
14
15
16

Finland
Australia
Sweden
Iceland
Ireland
Germany
Georgia
Canada

80
...
66
80
...
27
80
...
73
79
...
09

72
73
74
75
76
77
78
79

Mongolia
Guatemala
Botswana
Kosovo
Vanuatu
Kazakhstan
Vietnam
Trinidad and Tobago

65
...
88
64
...
76
64
...
59
64
...
24

135
136
137
138
139
140
141
142

Cambodia
Kenya
Yemen, Rep
...
33
54
...
84
54
...
72
54
...
26
53
...
S
...
84
78
...
73
77
...
42
76
...
73
76
...
03
75
...
01
74
...
80
74
...
88
73
...
17
72
...
11
72
...
83
71
...
53
71
...
24
71
...
08
70
...
60
70
...
35
70
...
99
69
...
87
69
...
00
68
...
66
68
...
26
67
...
60
67
...
70

80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
97
99
100
101
102
103
104
104
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124

Azerbaijan
Fiji
Uruguay
Costa Rica
Dominican Republic
Seychelles
Kuwait
Solomon Islands
Namibia
Antigua and Barbuda
China
Serbia
Paraguay
San Marino
Malta
Philippines
Ukraine
Bahamas, The
Dominica
Sri Lanka
St
...
Vincent and the Grenadines
Honduras
Lebanon
Barbados
Bosnia and Herzegovina
Nepal
El Salvador
Swaziland
Zambia
Egypt, Arab Rep
...
Kitts and Nevis
Cabo Verde
Guyana
Argentina

64
...
90
63
...
67
63
...
16
63
...
08
62
...
64
62
...
57
62
...
44
62
...
08
61
...
37
61
...
36
61
...
26
60
...
66
60
...
61
60
...
55
60
...
93
59
...
65
59
...
50
59
...
88
58
...
40
58
...
09
58
...
00
57
...
83
57
...
Sts
...

Guinea-Bissau
Haiti
Angola
Venezuela, RB
Afghanistan
Congo, Dem
...

Chad
South Sudan

53
...
43
53
...
59
52
...
45
51
...
11
51
...
07
50
...
69
50
...
36
49
...
85
49
...
55
49
...
29
49
...
20
49
...
57
48
...
63
47
...
33
46
...
89
46
...
61
46
...
21
43
...
29
43
...
18
41
...
41
41
...
60
37
...
72

62
63

Russian Federation
Moldova

66
...
60

125
126

Bhutan
Grenada

57
...
35

188
189

Central African Republic
Libya
Eritrea

34
...
35
33
...
For
the economies for which the data cover 2 cities, scores are a population-weighted average for the 2 cities
...
The score for both
years is based on the new methodology
...


OVERVIEW

found in almost all regions
...
The difference
between the best and worst scores in
a region can be substantial, however,
especially in East Asia and the Pacific,
the Middle East and North Africa and
Sub-Saharan Africa
...
In the year from June 1, 2013,
to June 1, 2014, 123 economies implemented at least one reform in the areas
measured by Doing Business—230 in
total
...

Twenty-one economies, including 6 in
Sub-Saharan Africa and 6 in the OECD
high-income group, implemented 3 or
more reforms reducing burdensome
bureaucracy or improving legal and
regulatory frameworks
...

Sub-Saharan Africa, the region with
the largest number of economies,
accounted for the largest number
of regulatory reforms in 2013/14,
with 39 reducing the complexity and
cost of regulatory processes and 36
strengthening legal institutions
...
4)
...
Latin America and the

Caribbean and South Asia remain the
2 regions with the smallest share of
economies implementing regulatory
reforms as captured by Doing Business
...
2)
...
Among these 10,
only Côte d’Ivoire featured among the 10
top improvers in last year’s report
...

Being recognized as top improvers does

not mean that these economies have exemplary business regulations; instead, it
shows that thanks to serious efforts in
regulatory reform in the past year, they
made the biggest advances toward the
frontier in regulatory practice (figure
1
...
Many of the 10 top improvers still
face many challenges on their way to
international best practices in business
regulation, including high bureaucratic
obstacles, political instability and weak
financial institutions
...
For example, starting a business
in Tajikistan is now easier as a result of
the implementation of new software
at the one-stop shop and the elimination of one of the business registration
procedures
...
4 Europe and Central Asia had both the largest share of economies making
it easier to do business in 2013/14
...
and the biggest average improvement in distance to frontier scores
Average change in distance to frontier score
between 2013 and 2014
2
...
5
1
...
56
1
...
77

0
...
74
0
...


East Asia Latin America &
& Pacific
Caribbean

South
Asia

0
...
31

OECD
Middle East &
high income North Africa

5

DOING BUSINESS 2015

TABLE 1
...
Rep
...
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 distance to frontier score
...
Second, Doing Business ranks these economies on the improvement in their distance to frontier score from the
previous year
...

The choice of the most improved economies is determined by the largest improvements in the distance to frontier score among those with at least 3 reforms
...


FIGURE 1
...

Norway
United States
United Kingdom
Finland
Australia
Sweden
Iceland
Ireland
Germany
Georgia
Canada
Estonia
Malaysia
Taiwan, China
Switzerland
Austria
United Arab Emirates
Latvia
Lithuania
Portugal
Thailand
Netherlands
Mauritius
Japan
Macedonia, FYR
France
Poland
Spain
Colombia
Peru
Montenegro
Slovak Republic
Bulgaria
Mexico
Israel
Chile
Belgium
South Africa
Czech Republic
Armenia
Rwanda
Puerto Rico (U
...
)
Romania
Saudi Arabia
Qatar
Slovenia
Panama
Bahrain
Hungary
Turkey
Italy
Belarus
Jamaica
Luxembourg
Tunisia
Greece
Russian Federation
Moldova
Cyprus
Croatia
Oman
Samoa
Albania
Tonga
Ghana
Morocco
Mongolia
Guatemala
Botswana
Kosovo
Vanuatu
Kazakhstan
Vietnam
Trinidad and Tobago
Azerbaijan
Fiji
Uruguay
Costa Rica
Dominican Republic
Seychelles
Kuwait
Solomon Islands
Namibia
Antigua and Barbuda
China
Serbia
Paraguay
San Marino

6

Regulatory frontier

50
2014

2013
25

0

Note: The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since
2005 or the third year in which data for the indicator were collected
...
The vertical bars show the
change in the distance to frontier score from 2013 to 2014; for more details, see the note to table 1
...
The 30 economies improving the most are highlighted in red
...


OVERVIEW

dealing with construction permits
less costly, and the introduction of an
electronic system for filing and paying
the corporate income tax, value added
tax and labor taxes made paying taxes
easier
...


Reforms making it easier to get credit
were also undertaken at the national
level
...
As a result, the credit
bureau can now identify customers with
unpaid DEWA accounts beyond 90 days
and the utility has access to the bureau’s
bounced check repository
...
And in Trinidad and Tobago a
new insolvency law strengthened protections of secured creditors’ rights in
insolvency proceedings, giving greater
flexibility in enforcement actions
...
Lucia
Brunei Darussalam
Kyrgyz Republic
St
...

Palau
Indonesia
Ecuador
Maldives
Jordan
Belize
Nicaragua
Brazil
St
...

Tanzania
Ethiopia
Papua New Guinea
Kiribati
Cambodia
Kenya
Yemen, Rep
...
Sts
...

Guinea-Bissau
Haiti
Angola
Venezuela, RB
Afghanistan
Congo, Dem
...

Chad
South Sudan
Central African Republic
Libya
Eritrea

Eight of the 10 top improvers carried
out reforms making it easier to start a
business, while 7 implemented reforms
making it easier to get credit
...
One such initiative was the revision by the Council
of Ministers of the Organization for
the Harmonization of Business Law
in Africa (OHADA) of the Uniform
Act on Commercial Companies and
Economic Interest Groups
...

Benin, Côte d’Ivoire, Senegal and Togo
were all among the OHADA member
economies that did so in 2013/14
...
Both adopted the Uniform Law
on the Regulation of Credit Information
Bureaus ahead of other member
states, providing a legal framework to
establish credit information bureaus
...


7

8

DOING BUSINESS 2015

Emirates reforming in both these areas
...
Moreover,
the United Arab Emirates introduced
additional approval requirements for
related-party transactions, greater
requirements for disclosure of such
transactions to the stock exchange and
a requirement that interested directors
be held liable if a related-party transaction is unfair or constitutes a conflict of
interest
...

Highlights of reforms making it easier
to register property include Azerbaijan’s
introduction of an online procedure for
obtaining nonencumbrance certificates
for property transfers
...
Now applicants for a
property transfer need only notify the
tax authority before proceeding with
the property transaction at the land
registry
...
Benin reduced
the number of documents needed for
customs clearance of imports
...
Côte d’Ivoire simplified the process for producing the
inspection report for imported cargo
and lowered port and terminal handling charges at the port of Abidjan
by introducing new customs and port
management
...
Benin made
enforcing contracts easier by creating

a commercial section within its court
of first instance
...
(For more detail on the reform patterns in the past
year, see the chapter on reforming the
business environment
...
For the
first time this year, the global Doing
Business report also extends its coverage beyond the largest business city in
each economy
...
The data provide new
insights into the variability of business
regulation within economies
...
6)
...
But this variability
is more likely to be in time and cost
than in the number of procedures,
suggesting that in most cases the law
is the same across cities though its
implementation may vary
...
This is easy to explain
...
Collateral laws
also tend to be national, and even in
the United States, where these laws
are under state jurisdiction, there is
enough legal harmonization so that
the 2 cities in the sample have the
same score on the strength of legal
rights index
...

In the United States, however, there
are differences in some of the data
embedded in the indicators for Los
Angeles and New York City—because
company law is under state jurisdiction
and there are measurable differences
between the California and New York
company law
...
The pattern is different in the
area of enforcing contracts
...
In all 4 of these
economies one of the pair of cities
has a specialized commercial court
(Rio de Janeiro, Monterrey, Lagos and
New York City) while the other does
not (São Paulo, Mexico City, Kano and
Los Angeles)
...
In Nigeria, for example, resolving a commercial dispute
takes 720 days in Kano but 447 days
in Lagos
...
For

OVERVIEW

example, only 4 economies have the
same tax system in both the 2 major
business cities—Bangladesh, India,
Indonesia and Nigeria
...
In the
area of starting a business the paid-in
minimum capital requirement is the
same in the 2 cities in all 11 economies,
and the number of procedures differs
in only 4 economies
...
Only in
Bangladesh and Pakistan is the process the same in the 2 cities
...
Only in Japan and Russia
is the process the same in the 2 cities
...

These are the areas of regulation measured by Doing Business where location
matters the most
...

Similarly, electricity connections are
often provided by local utilities
...

Labor market regulation can also vary
across cities within an economy
...
This is mainly to
account for differences in the cost of
living
...
In addition, in India
the largest business city (Mumbai) has
longer paid annual leave, with 21 days,
than the second largest one (Delhi),
with 15
...
In 6 of the 11 economies the largest business city performs better on
the Doing Business indicators overall
than the second largest one, while in
the other 5 the second largest business city has the higher score
...
This is the case for
Kano, Monterrey and Surabaya
...
Japan has the
fewest: Osaka and Tokyo differ in only

4 topics—starting a business, getting
electricity, paying taxes and trading
across borders
...
2 in the chapter on what is
changing in Doing Business
...
Measuring
aspects of the quality of regulation is
not new for Doing Business; some indicator sets, such as getting credit and
protecting minority investors, already
included a focus on regulatory quality
...

This year’s report introduces a new
measure of quality in the resolving
insolvency indicator set and expands
the measures of quality in the getting

FIGURE 1
...
99

Dealing with
construction permits

10

Registering property

6
...
53

9

4
...
00

Protecting minority
investors

0
...
34

Trading across
borders

11 4
...
06

4
0

1

2

3

0
...

Source: Doing Business database
...
Next year’s report
will add measures of regulatory quality
to the indicator sets for dealing with
construction permits, getting electricity, registering property, paying taxes
and enforcing contracts
...
7 Better insolvency laws, higher recovery rate
Strength of insolvency
framework index (0–16)
16 High quality,
low efficiency
14

High quality,
high efficiency
Canada

12 Micronesia, Fed
...


The results so far suggest that efficiency and quality go hand in hand
...
7)
...
The strength of
insolvency framework index measures
how well insolvency laws accord with internationally recognized good practices
and is therefore a proxy for quality
...

But many economies have an insolvency
system with low efficiency and high
quality
...

These results suggest that welldesigned laws are necessary but not
sufficient to achieve efficiency in an insolvency system
...
5 on the strength of insolvency
framework index, yet creditors in that
country should expect to recover only
3
...
So an insolvency law of aboveaverage quality does not necessarily
mean above-average recovery rates for
creditors
...


10
8
Cyprus

6
4

Venezuela, RB

2 Low quality,
low efficiency
0
0
10
20

Low quality,
high efficiency
30

40

50

60

70

80

90

100

Recovery rate (cents on the dollar)

Note: The correlation between the strength of insolvency framework index and the recovery rate is 0
...
The
relationship is significant at the 1% level after controlling for income per capita
...


Preliminary data for a new indicator
being developed to measure regulatory quality in registering property
reinforce the idea that efficiency and
quality go hand in hand: economies
that offer a simple, fast and inexpensive process for transferring property
are also likely to have a land administration system providing reliable land
records (figure 1
...

The new indicator under development
measures the reliability, transparency and geographic coverage of land
administration systems as well as elements of land dispute resolution
...
Preliminary
data show that virtually all economies
that score well on the overall quality of
land administration (with a distance
to frontier score above 50 for the

indicator) also score well on efficiency
in transferring property (with an average distance to frontier score above 50
for the procedures, time and cost)
...
Thus while these economies make the transfer of property
simple, fast and inexpensive, the lack
of quality in the land administration
system is likely to undermine the value
of the property title
...
8% of the property value
...

Efforts are ongoing for other Doing
Business topics as well
...


OVERVIEW

FIGURE 1
...


50
40
30
20

Yemen, Rep
...
The data for the new indicator are obtained through a set of questions on reliability,
transparency, coverage and dispute resolution
...
The correlation between the 2 distance to frontier scores is 0
...
The relationship is
significant at the 1% level after controlling for income per capita
...


FIGURE 1
...
9)
...
In that country resolving the
standard commercial dispute in the
Doing Business case study takes only
21 procedures and 150 days and costs
25
...
And not
surprisingly, the judicial system follows
several internationally recognized good
practices, such as having a separate
commercial court, providing arbitration, making judgments available to
the public, using case management
and allowing plaintiffs to file their initial
complaint electronically
...
6% of the claim value
...
The index
measures such aspects as whether the judicial system has a specialized commercial court or division, has a small claims
court, offers voluntary mediation and arbitration and makes judgments in commercial cases available to the general
public
...
41
...

Source: Doing Business database
...
To name just
a few:
ƒ Reforms simplifying business registration lead to more firm creation
...
6

11

12

DOING BUSINESS 2015

ƒ Cumbersome,

poorly functioning
business regulation undermines
entrepreneurship and economic
performance
...
8
ƒ Reforms improving access to credit
and the efficiency of property registration are correlated with product
and process innovation by young
firms
...
One
study shows, for example, that an
improvement of 10 points in the overall
distance to frontier score is linked to
an increase in new firm density (the
number of new firms created in a year
per 1,000 adults) of around 0
...
10)
...
8 percentage points
...

For example, an increase of 10 points in
the average distance to frontier score
for the indicators measuring the complexity and cost of regulatory processes
is associated with an increase in new
firm density of about 0
...
The equivalent result for the indicators measuring
the strength of legal institutions that
support business regulation, such as
commercial courts and credit bureaus,
is 0
...
These results suggest that combining good regulations across different
areas is important for business entry
and that piecemeal regulatory reforms
may be less effective than a broad reform program
...
10 Combined regulatory reforms are likely to have greater effects on new
business registration than isolated ones
Distance to frontier score for indicators
measuring the complexity and
cost of regulatory processes
Distance to frontier score for indicators
measuring the strength
of legal institutions
Overall distance to
frontier score
0

0
...
2

0
...
4

0
...
Indicators measuring the strength of legal institutions are those on getting credit, protecting
minority investors, enforcing contracts and resolving insolvency
...
The analysis uses data from 2003–13 for all economies
covered by Doing Business
...


These results encourage further research
to better understand the mechanisms
behind the link between business regulations and firm creation and potentially
economic growth
...
The analysis combined data from
World Bank Enterprise Surveys for more
than 40,000 observations (across firms
and years) with Doing Business data to
test how business regulations affect
the performance of firms of different
size classes
...

The results show that improvements
in the distance to frontier score have
greater effects on sales and employment growth for small firms than for
large ones
...
This is in line with
earlier research findings
...
12 Another found that in
general there is a significant relationship between entrepreneurial activity
and indicators of the quality of the legal
and regulatory environment and governance
...
14

HOW HAVE BUSINESS
REGULATIONS CHANGED
OVER THE PAST DECADE?
Among the more encouraging trends
shown by Doing Business data over the
past decade is the gradual improvement in economies’ performance in
the areas tracked by the indicators
...


OVERVIEW

FIGURE 1
...
The data refer to the 174 economies included in Doing Business 2006 (2005)
...

Source: Doing Business database
...
Here is an
example: In 2005 the time to transfer
property averaged 235 days among the
economies ranking in the worst quartile
on this indicator
...
Today
that gap is substantially narrower
...
11)
...


WHAT IS IN THIS YEAR’S
REPORT?
This year’s report presents several case
studies focusing on legal and regulatory
features covered by new or expanded
indicators being introduced this year or
next year
...

Another discusses the importance of a
strong legal framework for insolvency,
also among the features being measured by new indicators—while a third
examines the new components of the
getting credit indicators
...

These case studies provide new insights
from the newly collected data
...
And economies that
have reformed their insolvency laws
in the past several years score substantially higher on this index than
economies with outdated insolvency
provisions
...


Other case studies in this year’s report
focus on good practices in the areas
of business regulation covered
...
This case study discusses how
company registries empower businesses
to operate in the formal economy, allowing them to reap the benefits that
come with formalization, and how online
platforms for company incorporation
make the process faster and cheaper
...


around the world with the aim of keeping governments informed about good
practices and enabling researchers to
further our knowledge of how laws and
regulations affect development
...
This
case study shows that over the 9-year
period ending in 2012, the global average total tax rate as measured by Doing
Business fell by 9
...
The reduction was accompanied by a tangible improvement in the
quality of tax administration in many
economies thanks to their adoption
of the latest technologies to facilitate
online filing and payment
...


The report also presents a case study
on enforcing contracts that analyzes
new data on freedom of contract
...

Finally, this year’s report presents a
summary of some of the research presented at the Doing Business research
conference that took place in February
2014
...
Doing
Business will continue to monitor progress in business regulation in economies

NOTES
1
...


4
...


6
...

8
...

10
...


12
...

14
...
dbrpanel
...

The distance to frontier score shows how far
on average an economy is at a point in time
from the best performance achieved by any
economy on each Doing Business indicator
since 2005 or the third year in which
data for the indicator were collected
...

The correlation between the distance
to frontier score and the IDA Resource
Allocation Index is 0
...
The relationship is
significant at the 1% level after controlling
for income per capita
...

Branstetter and others 2013; Bruhn 2011;
Kaplan, Piedra and Seira 2011; Monteiro and
Assunção 2012
...

Dreher and Gassebner 2013
...

Dutz 2014
...

These results take into account differences
in performance due to country-level timeinvariant characteristics and firms’ sector,
age and export status
...

Aterido, Hallward-Driemeier and Pages
2009
...

Ayyagari, Demirguc-Kunt and Maksimovic
2014
...
Doing
Business measures the rules and regulations that can help the private sector
thrive—because without a dynamic
private sector, no economy can provide
a good, and sustainable, standard of living for people
...


invest and grow, thereby creating more
jobs
...
The objective is to encourage
regulations that are designed to be efficient, accessible to all who use them
and simple in their implementation
...
But
where regulation is efficient, transparent and implemented in a simple
way, it becomes easier for aspiring
entrepreneurs to compete on an equal
footing and to innovate and expand
...

Enabling growth—and ensuring that all
people, regardless of income level, can
participate in its benefits—requires an
environment where new entrants with
drive and good ideas can get started
in business and where good firms can

Doing Business is also an important
source of information for researchers
...
This year’s report
discusses the results of some of this
work in the chapter on highlights from
the Doing Business research conference
...


Doing Business was designed with 2
main types of users in mind: policy
makers and researchers
...
But this tool should
not be used in isolation
...
Nevertheless, the
Doing Business data are limited in scope
and should be complemented with other
sources of information
...

It provides quantitative measures of
regulations for starting a business,
dealing with construction permits,

ƒ Doing Business measures business
regulations that affect domestic small
and medium-size firms in 11 areas
across 189 economies
...
Doing Business also
measures labor market regulation,
which is not included in these 2
measures
...

ƒ The Doing Business methodology is
based on standardized case scenarios
in the largest business city of each
economy
...

ƒ Doing Business relies on 4 main
sources of information: the relevant
laws and regulations, Doing Business
respondents, the governments of the
economies covered and the World Bank
Group regional staff
...
Many Doing Business
indicators are “actionable”—though
depending on the context, they may
not always be “action-worthy
...
Doing Business also
measures labor market regulation
...
It does present the data for
these indicators
...
1)
...
A simpler
and less costly process results in better
performance on the indicators and, if
all else is constant, a more favorable
ranking on the ease of doing business
...


Indicators of the second type reflect
better institutions for private sector
development, such as well-functioning
courts and credit information systems
...
Three sets
of these indicators—getting credit, protecting minority investors and resolving
insolvency—have been expanded for
this year’s report to further focus on
the strength of legal institutions (for
details on the expansion of the scope of
indicator sets, see the chapter on what
is changing in Doing Business)
...
2 These
surveys provide data highlighting the
main obstacles to business activity as
reported by entrepreneurs in more than
120 economies
...
1 What Doing Business measures—11 areas of business regulation
Complexity and cost of regulatory processes
Starting a business

Procedures, time, cost and paid-in minimum capital to start a limited
liability company

Dealing with construction permits

Procedures, time and cost to complete all formalities to build a
warehouse

Getting electricity

Procedures, time and cost to get connected to the electrical grid

Registering property

Procedures, time and cost to transfer a property

Paying taxes

Payments, time and total tax rate for a firm to comply with all tax
regulations

Trading across borders

Documents, time and cost to export and import by seaport

Strength of legal institutions
Getting credit

Movable collateral laws and credit information systems

Protecting minority investors

Minority shareholders’ rights in related-party transactions and in
corporate governance

Enforcing contracts

Procedures, time and cost to resolve a commercial dispute

Resolving insolvency

Time, cost, outcome and recovery rate for a commercial insolvency
and the strength of the insolvency legal framework

Labor market regulation

Flexibility in employment regulation, benefits for workers and labor
dispute resolution

as important to businesses have been
access to finance and access to electricity—inspiring the design of the Doing
Business indicators on getting credit
and getting electricity
...
In addition, the background
papers developing the methodology
for each of the Doing Business indicator
sets have established the importance
of the rules and regulations that Doing
Business measures for such economic
outcomes as trade volumes, foreign direct investment, market capitalization
in stock exchanges and private credit as
a percentage of GDP
...
The distance
to frontier score aids in assessing
the absolute level of regulatory
performance and how it improves over
time
...
This allows users both to see
the gap between a particular economy’s
performance and the best performance
at any point in time and to assess the
absolute change in the economy’s
regulatory environment over time as
measured by Doing Business
...
The ranking
complements the distance to frontier
score by providing information about
an economy’s performance in business

ABOUT DOING BUSINESS

FIGURE 2
...

United States
Finland
Sweden
Ireland
Georgia
Estonia
Taiwan, China
Austria
Latvia
Portugal
Netherlands
Japan
France
Spain
Peru
Slovak Republic
Mexico
Chile
South Africa
Armenia
Puerto Rico (U
...
)
Saudi Arabia
Slovenia
Bahrain
Turkey
Belarus
Luxembourg
Greece
Moldova
Croatia
Samoa
Tonga
Morocco
Guatemala
Kosovo
Kazakhstan
Trinidad and Tobago
Fiji
Costa Rica
Seychelles
Solomon Islands
Antigua and Barbuda
Serbia
San Marino
Philippines
Bahamas, The
Sri Lanka
Brunei Darussalam
St
...
Kitts and Nevis
Guyana
Bhutan
Mozambique
Lesotho
Tanzania
Papua New Guinea
Cambodia
Yemen, Rep
...
Sts
...
Figure is illustrative only; it does
not include all 189 economies covered by this year’s report
...

Source: Doing Business database
...

For each topic covered and for all topics,
Doing Business uses a simple averaging
approach for weighting component indicators, calculating rankings and determining the distance to frontier score
...
5 These turn
out to yield results nearly identical to
those of simple averaging
...
6
Each topic covered by Doing Business
relates to a different aspect of the
regulatory environment
...
A quick way to
assess the variability of an economy’s
regulatory performance is to look at its
distance to frontier scores across topics
(see the country tables)
...
53
...
43 for starting a business,
82
...
05 for
getting electricity
...
97 for dealing with
construction permits, 55
...
92 for resolving insolvency
(figure 2
...


bribery and corruption, market size,
macroeconomic stability, the state
of the financial system or the level of
training and skills of the labor force
...
The
trading across borders indicators, for
example, capture the documents, time
and cost required for the logistical
process of exporting and importing

TABLE 2
...
2)
...
It does not, for example, capture
aspects of security, the prevalence of

Macroeconomic stability

Market size
State of the financial system
Level of training and skills of the labor force
Examples of aspects not included within the
areas covered
In getting electricity, the reliability of electricity
supply
In getting credit, the availability of credit for firms
In trading across borders, export or import tariffs
and subsidies

17

18

DOING BUSINESS 2015

containerized goods by seaport, but
they do not measure the cost of the sea
transport or of tariffs or capture any
aspects relating to international trade
agreements
...
It does not address the extent to which inadequate
roads, rail, ports and communications
may add to firms’ costs and undermine
competitiveness (except to the extent
that the trading across borders indicators indirectly measure the quality of
ports and roads)
...

And the getting electricity indicators
do not currently address the quality
of the electricity supply or the rate of
electrification
...
For example, the paying
taxes indicators measure the total tax
rate, which, in isolation, is a cost to businesses
...

Measuring business laws and regulations provides one input into the debate
on the regulatory burden associated
with achieving regulatory objectives
...
Doing Business provides a
starting point for this discussion and
should be used in conjunction with other
data sources
...
It

has advantages and limitations that
should be understood when using the
data (table 2
...

A key consideration for the Doing
Business indicators is that they should
ensure comparability of the data
across a global set of economies
...
One such
assumption is the location of a notional
business—the subject of the Doing
Business case study—in the largest
business city of the economy
...
But gathering
data for every relevant jurisdiction in
each of the 189 economies covered by
Doing Business would be infeasible
...
Nevertheless, where
policy makers are interested in generating data at the local level, beyond the
largest business city, Doing Business
has complemented its global indicators with subnational studies (box 2
...


And this year, for the first time, Doing
Business has extended its coverage
to the second largest business city in
economies with a population of more
than 100 million
...
But while
such assumptions come at the expense
of generality, they also help ensure the
comparability of data
...
Inflation statistics, for example,
are often based on prices of a set of
consumer goods in a few urban areas,
since collecting nationally representative price data at high frequencies
would be prohibitively costly in many
countries
...

Some Doing Business topics include
complex areas, and so it is important
that the standardized cases are
carefully defined
...
The considerations

TABLE 2
...
In economies with a population of more than 100 million, Doing Business covers business regulation in both the
largest business city and the second largest one
...
1 Comparing regulations at the local level: subnational Doing Business studies
The subnational Doing Business studies expand the Doing Business analysis beyond the largest business city of an economy
...
Projects are undertaken at the request of governments
...
In Mexico in 2013, for example, transferring property took as few as 2 days in Colima and as many as 74 in Mexico
City
...
Despite these large differences across cities of varied sizes, the differences between the largest and the second largest business cities in an economy tend to be small, as discussed in the overview
...
16)
76
...
75

79
...
52
55
...
00

10th percentile
(42
...
49

88
...
79

78
...
62

59
...
40

29
...
84

Nigeria, 2014

Colombia, 2012
Worst score

Egypt, Arab Rep
...
The worst score shown for each economy is that of the location with the most complex
process for transferring property, and the best score that of the location with the most efficient one
...

Source: Subnational Doing Business database
...
But they go beyond a data
collection exercise
...
Comparisons of locations that are within the same economy and
therefore share the same legal and regulatory framework can be revealing: local officials find it hard to explain why
doing business is more difficult in their jurisdiction than in a neighboring one
...
This can prompt discussions of regulatory reform across
different levels of government, providing opportunities for local governments and agencies to learn from one another
and resulting in local ownership and capacity building
...
This year subnational studies were completed in the Arab Republic of Egypt, Mexico and Nigeria
...

Subnational reports are available on the Doing Business website at http://www
...
org/subnational
...

First, private limited liability companies
are, empirically, the most prevalent
business form for firms with more than
one owner in many economies around
the world
...


exist in the regulatory framework; it also
points to specific regulations or regulatory procedures that may lend themselves
to reform
...


Another assumption underlying the
Doing Business indicators is that entrepreneurs have knowledge of and
comply with applicable regulations
...
Alternatively,
they may deliberately avoid compliance altogether—by not registering
for social security, for example
...
In economies with
particularly burdensome regulation,
levels of informality tend to be higher
...
7 Firms in the informal sector
are also less likely to pay taxes
...


The Doing Business data are based on
domestic laws and regulations as well as
administrative requirements
...
The data are
collected through several rounds of interaction with expert respondents (both
private sector practitioners and government officials)—through responses to
questionnaires, conference calls, written
correspondence and visits by the team
...
2)
...
Doing
Business not only shows where problems

HOW ARE THE DATA
COLLECTED?

the Doing Business methodology, see the
data notes
...

Indeed, more than two-thirds of the
data embedded in the Doing Business
indicators are based on a reading of the
law
...
The
Doing Business team collects the texts
of the relevant laws and regulations
and checks questionnaire responses
for accuracy
...
(Doing Business makes these
and other types of laws available on
the Doing Business law library website
...
In principle, the role of the contributors is largely
advisory—helping the Doing Business
team in finding and understanding the

FIGURE 2
...


The report is published
and disseminated
...

Comments on the report and the
data are received from across the
World Bank Group through an
internal review process
...

Governments and World Bank Group
regional teams submit information on
regulatory changes that could
potentially be included in the global
count of regulatory reforms
...


ABOUT DOING BUSINESS

laws and regulations—and there are
quickly diminishing returns to an expanded number of contributors
...
For some
indicators—for example, those on
dealing with construction permits,
enforcing contracts and resolving
insolvency—the time component and
part of the cost component (where fee
schedules are lacking) are based on
actual practice rather than the law on
the books
...
When sources indicate different estimates, the time indicators
reported in Doing Business represent
the median values of several responses
given under the assumptions of the
standardized case
...
9
This year’s report draws on the inputs
of more than 10,700 professionals
...
2 in the data notes lists the
number of respondents for each indicator set
...

Respondents are professionals who
routinely administer or advise on the
legal and regulatory requirements in
the specific areas covered by Doing
Business, selected on the basis of their
expertise in these areas
...
In addition, officials
of the credit registry or bureau complete
the credit information questionnaire
...


Certain public officials (such as registrars from the company or property
registry) also provide information that
is incorporated into the indicators
...
Following
the standard methodological approach
for time-and-motion studies, Doing
Business breaks down each process or
transaction, such as starting a business
or registering a building, into separate
steps to ensure a better estimate of
time
...
When time estimates differ, further interactions with respondents are
pursued to converge on one estimate or
a narrow range that reflects the majority of applicable cases
...
The first relates to the
frequency with which firms engage in the
transactions captured by the indicators,
which is generally low
...
The incorporation lawyers
and other experts providing information
to Doing Business are therefore better
able to assess the process of starting a
business than are individual firms
...
The second reason
is that the Doing Business questionnaires
mostly gather legal information, which
firms are unlikely to be fully familiar with
...
But a
litigation lawyer would have no difficulty
in providing the requested information on
all the procedures
...
Through
this process government authorities and
local World Bank Group staff in the 189
economies covered can alert the team
about, for example, regulatory reforms
not picked up by the respondents or additional achievements of regulatory reforms already captured in the database
...
In addition, the team responds formally to the
comments of governments or regional
staff and provides explanations of the
scoring decisions
...
A transparent
complaint procedure allows anyone to
challenge the data
...
If changes in data are confirmed, they are immediately reflected
on the website
...
Doing Business provides one source of actionable, objective
data that give useful insights into good
practices worldwide
...
11
One venue for sharing success stories
in business regulation reform is peerto-peer learning events—workshops
where officials from different governments across a region or even across
the globe meet to discuss the challenges
of regulatory reform and to share their
experiences (figure 2
...

In addition, reform committees within
governments frequently use the Doing
Business indicators as one input to inform
their programs for improving the business
environment
...
In East and South
Asia they include Indonesia, the Republic
of Korea, Malaysia, the Philippines and
Sri Lanka
...


In Europe and Central Asia: Azerbaijan,
Croatia, the Czech Republic, Georgia,
Kazakhstan, Kosovo, the Kyrgyz
Republic, the former Yugoslav Republic
of Macedonia, Moldova, Montenegro,
Poland, the
Russian
Federation,
Tajikistan, Ukraine, the United Kingdom
and Uzbekistan
...
And in Latin
America: Chile, Colombia, Costa Rica, the
Dominican Republic, Guatemala, Mexico,
Panama and Peru
...
For example, governments can reduce (or even eliminate)
the minimum capital requirement for
new firms
...
3 How governments use Doing Business as a policy tool

Governments learn
from one another
about good practices
in the areas measured
by Doing Business
...


Reform committees
use Doing Business
indicators to help
inform programs to
improve the business
environment
...
They
can improve the efficiency of tax administration by adopting the latest technologies to facilitate the preparation, filing
and payment of taxes by businesses
...
On the other hand, some
Doing Business indicators capture costs
that involve private sector participants,
such as lawyers, notaries, architects,
electricians or freight forwarders—costs
over which governments may have little
influence in the short run
...
12
Business regulation reforms are one element of a strategy aimed at improving
competitiveness and establishing a solid
foundation for sustainable economic
growth
...
Governments
have to decide what set of priorities
best fits the needs they face
...


NOTES
1
...
Doing Business was not initially
designed to inform decisions by foreign
investors, though investors may in practice
find the data useful as a proxy for the
quality of the national investment climate
...

2
...
enterprisesurveys
...

3
...
doingbusiness
...

4
...
In this way each point
included in these indices has the same value
independent of the component it belongs to
...

5
...
doingbusiness
...

6
...

7
...

8
...
doingbusiness
...

9
...
The Doing Business
team and the contributors examine the
extent to which the regulatory framework
has changed in ways relevant for the
features captured by the indicators
...

10
...
Indeed,
the total number of contributions received
for this year’s report is more than 13,500,
which represents a true measure of the
inputs received
...
For more details, see http://
www
...
org/contributors
/doing-business
...
These are reforms for which Doing Business
is aware that information provided by the
Doing Business report was used in shaping
the reform agenda
...
One study using Doing Business indicators
illustrates the difficulties in using highly
disaggregated indicators to identify reform
priorities (Kraay and Tawara 2011)
...

ƒ The improvements have 2 main
goals
...
The second is to expand the
focus of indicator sets that already
measure some aspects of the quality
of regulation to include recent good
practices in the areas covered
...

ƒ For the 11 economies with a
population of more than 100 million,
a second city has been added to the
sample this year
...
Some
changes have come, for example, as
new technologies have transformed
the ways governments interact with
citizens and the business community
...
While the Doing
Business report has introduced changes
in methodology of varying degrees
every year, this year’s report and Doing
Business 2016 are implementing more
substantive improvements
...
1 Timeline of the changes in
Doing Business
Changes in Doing Business 2015
Revision of the ranking calculation
Expansion of the city sample in large economies
Broadening of the scope of indicator sets
• Getting credit
• Protecting minority investors
• Resolving insolvency
Changes in Doing Business 2016
Broadening of the scope of indicator sets
• Registering property
• Dealing with construction permits
• Getting electricity
• Paying taxes
• Enforcing contracts
Note: No changes are planned for starting a business or
trading across borders
...


and by broader consultations that have
taken place over the years with World
Bank Group staff, country governments and the private sector
...
1)
...

For getting credit, for example, the
changes in the strength of legal rights
index are substantial enough to prevent comparability over time
...
2 Moreover,
since most of the changes in methodology involve adding new indicators
rather than revising existing ones, data
for more than 90% of the previously
existing indicators remain comparable
over time
...


Revising the ranking
calculation
Doing Business continues to publish
the ease of doing business ranking
...
The distance to frontier
score benchmarks economies with respect to a measure of regulatory best
practice—showing the gap between
each economy’s performance and the
best performance on each indicator
...
For most of
the other indicators the frontier is set
at the lowest number that occurs in
practice—for example, 1 for the number of procedures to start a business
...

The ranking based on the distance to
frontier score is highly correlated with
that based on the percentile rank
...
Economies with greater
variance across topics are more likely

to have a less favorable position in the
distance to frontier ranking than in the
percentile ranking
...

Two country examples can better illustrate the practical implications of
the change in the ranking calculation
...
This resulted in
a ranking of 167 on the overall ease of
doing business
...
1)
...

For Mongolia the opposite would have
happened
...
Mongolia ranked in
the top 40 for 4 of the topics, and in

FIGURE 3
...
The correlation between the 2 rankings is 0
...

Source: Doing Business database
...
Its overall ranking
based on the percentile rank method
was 76
...
This lower ranking
would have been attributable to the
high variation in Mongolia’s performance across topics
...
The changes in ranking
are due to other changes in methodology, changes in the data for these 2
countries and changes in the data for
other economies
...
)

Expanding the sample of cities
covered
Since its inception Doing Business has
focused on the largest business city of
each economy, taking it as a proxy for
the entire national territory
...
As the subnational Doing Business
reports have shown, the indicators
measuring the procedures, time and
cost to complete a transaction (such as
the dealing with construction permits
indicators) tend to show more variation
across cities within an economy than
do indicators capturing features of the
law applicable nationwide (such as the
protecting minority investors or resolving insolvency indicators)
...

To address this issue, this year Doing
Business has expanded its sample of

25

26

DOING BUSINESS 2015

cities in large economies, defined as
those with a population of more than
100 million
...
For
each of these economies the sample
now includes the second largest business city
...
Second, the larger the
population in an economy, the larger the
number of people who can benefit from
improvements in business regulation
...
Another criterion was that
the second city must be in a different
metropolitan area than the largest
business city
...

What do the data for the new cities in
the sample show about the differences
within economies? Overall, the differences are small
...
2)
...
The improvements are
aimed at addressing 2 main concerns
...
And second, in indicator sets

quality as 1 of 6 pillars of governance
...
5 Better
governance is linked to faster economic
growth
...
7

that already measure some aspects of
the quality of regulation (such as protecting minority investors), the focus
is being expanded to include additional
good practices in the areas covered
...
Many research papers
have highlighted the positive effect
of improvements in areas measured
by Doing Business on such economic
outcomes as firm or job creation
...
For example, the ability
to complete property transfers quickly
and inexpensively is important, but if
the land records are unreliable or other
features of the property rights regime
are flawed, the property title will have
little value
...
Measures of the quality
of business regulation at the micro level
are lacking
...
The aim
is to help develop greater understanding of the importance of the quality
of business regulation and its link to
regulatory efficiency and economic
outcomes
...

An important part of this literature
stems from the Worldwide Governance
Indicators, which measure regulatory

Six indicator sets are being expanded
to measure regulatory quality: dealing
with construction permits, getting
electricity, registering property, paying taxes, enforcing contracts and

FIGURE 3
...

Source: Doing Business database
...
The new indicators being introduced emphasize the
importance of having the right type of
regulations
...


Changes in Doing Business 2015
Resolving insolvency
The resolving insolvency indicators
measure the time, cost and outcome of
an insolvency process for a case study
firm and the recovery rate for its secured
creditors
...
But by measuring
the outcome of the process—that is,
whether the firm continues to operate
or not—the indicators were already assessing some dimensions of the quality
of insolvency regulation
...

A new indicator, the strength of insolvency framework index, measures
good practices in accordance with the
World Bank’s Principles for Effective
Insolvency and Creditor/Debtor Regimes
and the United Nations Commission on
International Trade Law’s (UNCITRAL)
Legislative Guide on Insolvency Law
...
First, it
records whether debtors and creditors
have the right to commence liquidation
proceedings, reorganization proceedings or both and what standard is used
to determine whether a debtor is insolvent
...
Third,
it tests the approval process for a
reorganization plan as well as certain
substantive requirements for the plan
...

Under the old methodology the distance
to frontier score for resolving insolvency
was based only on the recovery rate,
which measures the cents on the dollar
recouped by secured creditors through
insolvency proceedings
...

A comparison of the 2 scores shows
that many economies have insolvency
laws that follow some good practices
even if they may face challenges in
implementing those laws (figure 3
...

For example, Brazil receives a score of
13 (of 16 possible points) on the strength
of insolvency framework index while its
recovery rate is only 25
...
Economies not performing well
on the new indicator are those that use
foreclosure to resolve the insolvency in
the Doing Business standardized case
...
In Maldives, for example,
secured creditors should expect to recover 49
...

For more details on the new index and
its scoring methodology, see the data
notes
...


Changes in Doing Business 2016
Registering property
The registering property indicator
set has measured the procedures,
time and cost to transfer a property
from one company to another since
2004
...

Ensuring the reliability of information
on property titles is a crucial function
of land administration systems
...
3 Comparing distance to frontier scores for resolving insolvency under the
old and new methodologies
Distance to frontier score for resolving
insolvency under new methodology
100
90
80
70
60

Brazil

50
40

Maldives

30
20
10
0

0

10

20

30

40

50

60

70

80

90

100

Distance to frontier score for resolving insolvency under old methodology
Note: Under the new methodology the distance to frontier score for resolving insolvency includes both the recovery
rate and the strength of insolvency framework index; under the old one it includes only the recovery rate
...
The 45-degree line shows where the scores under the old and new methodologies are
equal
...
90
...


27

28

DOING BUSINESS 2015

assess how well these systems are performing this function, a new indicator
will record the practices used for collecting, recording, storing and processing information on land parcels and
property titles
...


the procedures, time and cost to
comply with the formalities to build
a warehouse—including obtaining
necessary licenses and permits,
completing required notifications
and inspections and obtaining utility
connections
...
4 for some
of the new aspects that will be added
to the indicator set)
...
Good inspection
systems are critical to ensuring public
safety
...
And requirements that technical experts review the proposed plans
before construction even begins can reduce the risk of structural failures later
on
...


The indicator will also provide information allowing comparison of transparency standards for land administration
systems around the world
...


The changes will address important
issues facing the building community
...
Besides being clear, building rules also need to
be adaptable, so that they can keep
up with economic and technological
change
...


Measures of quality control before
construction will look at 2 points:
which entity is required to verify that
the architectural plans and drawings
comply with the building regulations
and who makes up the team or committee that reviews and approves
building permit applications at the
permit-issuing agency
...
Measures
of quality control after construction
will also examine 3 points: whether a
final inspection is required by law to

In addition, the indicator will measure
the coverage levels attained by land
registration and mapping systems
...

The result is a dual system, with both
formal and informal land markets
...

Finally, the indicator will allow comparative analysis of land dispute resolution across economies
...
For a complete discussion
of the new indicator and a preliminary
data analysis, see the case study on
registering property
...
4 What will be added to dealing with construction permits

Does the building code
follow good practices? Is it
easily accessible?

Who approves the designs?
How are inspections
carried out before, during
and after construction?

What qualifications are
required for the professionals
reviewing plans or
conducting inspections?
What are the rules on
liability and insurance?

WHAT IS CHANGING IN DOING BUSINESS?

verify that the building was built in accordance with the approved plans and
the building regulations; which agency
is responsible for conducting the
final inspection; and whether the final
inspection required by law is actually
carried out (or, if not required by law,
commonly occurs in practice)
...

So it is important that these professionals be certified and that they have
the necessary technical qualifications
...

The new indicator will cover several
points relating to these issues: what
the qualification requirements are
for the professionals responsible for
verifying the architectural plans and
for those authorized to supervise the
construction; which parties are held
legally liable for construction flaws or
problems affecting the structural safety of the building once occupied; which
parties are required by law to obtain an
insurance policy to cover possible flaws
or problems affecting the structural
safety of the building once occupied;
and what the consequences are for
the construction company and the
professionals authorized to supervise
construction if construction flaws or
problems are found or if building regulations were not complied with
...
Beyond the
complexity and high cost of getting an
electricity connection, inadequate or
unreliable power supply is also perceived
as an important constraint on business
activity, particularly in the developing
world
...
5)
...

A new indicator will assess the reliability
of electricity supply by measuring both
the duration and the frequency of power
outages
...

SAIDI is the average total duration of
outages over the course of a year for
each customer served, while SAIFI is the
average number of service interruptions
experienced by a customer in a year
...
The SAIDI and SAIFI measures are
often recorded by utility companies,
and the availability and quality of the
data depend on the utilities’ ability to
collect the information
...


Paying taxes
The paying taxes indicators measure
the taxes and mandatory contributions
that a medium-size company must
pay in a given year as well as the
administrative burden of paying taxes
and contributions
...
But the postfiling process—
involving tax audits, tax refunds
and tax appeals—can also impose
a substantial administrative burden
on firms
...

In addition, this year’s report includes
an important change in the methodology for the paying taxes indicators
...
As a result of
this change, an increase in the total
tax rate has a smaller impact on the
distance to frontier score for paying
taxes than previously for economies
with a below-average total tax rate
and a larger impact for economies
with a very high total tax rate relative
to the average (see figure 15
...


FIGURE 3
...
While the efficiency of
the connection process has proved
to be a useful proxy for the overall efficiency of the electricity sector, these
measures cover only a small part of

Reliability of electricity supply
• Duration of power outages
• Frequency of power outages

29

30

DOING BUSINESS 2015

Enforcing contracts
The enforcing contracts indicators
measure the procedures, time and
cost to resolve a commercial dispute
between 2 firms
...
In Doing
Business 2016 the indicator set will be
expanded to cover aspects of judicial
quality and court infrastructure,
focusing on well-established good
practices that promote quality and
efficiency in the commercial court
system (figure 3
...

To assess the quality of the judiciary
and judicial infrastructure, a new indicator will record whether there is a
specialized commercial court or division; whether there is a small claims
court; whether voluntary mediation is
available; whether arbitration is available; whether pretrial attachment of
assets is available; whether it is common practice for the parties in a commercial case to request adjournments

and whether the law sets a limit on
the total number allowed; and whether
judgments in commercial cases are
made available to the general public
...
This indicator will record whether the initial complaint can
be filed electronically; whether case
management is available; whether
electronic case management is available; whether there is a pretrial conference as part of the case management
system; and whether process can be
served electronically
...


EXPANDING THE EXISTING
MEASURES OF QUALITY
Two sets of Doing Business indicators—
getting credit and protecting minority
investors—already measure aspects

FIGURE 3
...
These indicator
sets have been expanded in this year’s
report to incorporate more recent
knowledge on good practices
...


Getting credit
The getting credit indicators assess the
legal rights of borrowers and lenders in
secured transactions and the sharing of
credit information
...
Those combined
in the depth of credit information
index focus on the coverage, scope
and accessibility of credit information
available through credit bureaus and
registries
...
7)
...
9 One of
the new points is awarded for having
an integrated secured transactions
system
...
Such rights
might be established by legal instruments that are functional equivalents
to security interests
...
This approach provides the
greatest transparency and predictability—because all rights in collateral,
whether traditional security interests
or their functional equivalents, are
registered at the same registry, and
the law will contemplate how priority
rules apply across the different types
of contracts
...

One is that the registry must cover any
type of secured transaction, regardless of the type of debtor, creditor or
assets
...
This
type of registry has much lower administrative and archival costs than a
document registry, which must register
voluminous documentation and have
specialists review the documents provided and the assets used as collateral
...
Secured creditors (or their
representatives) should be able to
register, search, amend and cancel
security interests online
...

And the registry should have a digital
database for storing the information
...
Establishing and maintaining
such systems can be costly, however,
and these systems need to be backed
by adequate legislation, such as privacy laws and regulations on electronic
signatures
...

In addition, because of the importance
of coverage in assessing the effectiveness of a credit information system,

Depth of credit
information

Strength of
legal rights

FIGURE 3
...

One of the new points is awarded to
economies where credit information can
be accessed through an online platform
or through a system-to-system connection between financial institutions and
the credit information system
...

Another new point is awarded to economies where credit scores are available
...
Their
availability enables lenders that would
otherwise not be capable of analyzing
the raw credit data to extend credit to
underserved markets at lower cost
...
For a complete
discussion of the indicators and an
analysis of the data, see the case study
on getting credit
...

The indicators have traditionally measured the strength of minority shareholder protections against directors’
misuse of corporate assets for personal
gain
...
11 The
new indicator, the extent of shareholder
governance index, encompasses a
range of issues and data:
ƒ Shareholders’ rights and role in major
corporate decisions—the extent to
which shareholders can influence
important corporate decisions, such
as appointing and removing board
members, issuing new shares and
amending the company’s bylaws
and articles of association
...

The issues covered include whether
the chief executive officer (CEO) can
also be chair of the board of directors, whether a board must include
a minimum number of independent
directors and whether there are
rules relating to cross-shareholding
and subsidiary ownership
...

Transparency has been found to improve governance and lower the cost
of investment in capital markets
...
The data
provide information on whether

31

32

DOING BUSINESS 2015

FIGURE 3
...
Both scores are based on this year’s data
...
The correlation between the
2 scores is 0
...

Source: Doing Business database
...

By expanding the scope of the indicators Doing Business has raised the bar,
making it more difficult to reach the
frontier
...
8)
...
This is true even though the possible range of the overall measure, the
strength of minority investor protection
index, continues to be 0–10
...
One of
them is Switzerland
...
For others,
such as Paraguay, the opposite is true
...
For a
complete discussion of the new indicator and an analysis of the data, see
the case study on protecting minority
investors
...


For more information on the Independent
Panel on Doing Business and its work, see its
website at http://www
...
org
...
See the data notes for more details
...
Where the second and third largest cities
were very close in population size, the GDP
of the city or relevant state was used to
determine which city was the second largest
business city
...
For more details, see the chapter in Doing
Business 2014 on research on the effects of
business regulations
...
Kaufmann and Kraay 2002
...
Cuzman, Dima and Dima 2010
...
Loayza, Oviedo and Servén 2010
...
World Bank 2011b; UNCITRAL 2004
...
UNCITRAL 2007
...
Excluding exemptions such as planes, boats
and the like, which are traditionally covered
by different registries
...
OECD 2004
...

Where well designed and properly
implemented, regulatory reforms can
promote private sector growth by eliminating bureaucratic obstacles, reducing
cost and time constraints to doing
business and improving the efficiency of
legal institutions
...

One important area of regulatory reform is the process for starting
a business
...
Using a sample
of OECD countries, researchers found
that, on average, halving the number of
procedures required to start a business
is associated with a 14% increase in the
number of new business registrations
...

These findings are borne out by evidence
at the country level
...
2 Portugal experienced similar effects after it reduced

the time and cost to start a business
by 50%
...
”3 Comparable
evidence exists on a regional level for
Italy: provinces with a longer process
for starting a business have lower rates
of firm creation than those with a more
streamlined process
...
In trade
logistics, evidence shows that improving port efficiency not only reduces
shipping times but also ultimately cuts
shipping costs
...
5 These spillover effects on shipping costs decrease with an economy’s
income level: high-income economies
showed greater effects than low- and
middle-income ones
...
6 And there is strong
evidence that regulatory reforms in
the areas measured by Doing Business
indicators improve perceptions of
quality
...

ƒ In the year ending June 1, 2014, 123
economies implemented at least one
such reform in areas measured by
Doing Business—230 in total
...

ƒ Among reforms to strengthen legal
institutions in 2013/14, the largest
numbers were recorded in the areas
of getting credit and protecting
minority investors, and the smallest
in the area of resolving insolvency
...
China, Mexico
and the Russian Federation each
implemented 2, while India and
Indonesia each implemented 3
...


34

DOING BUSINESS 2015

affecting the indicators that measure
the strength of legal institutions
...

Using its indicators to track changes in
business regulations, Doing Business has
captured more than 2,400 regulatory
reforms making it easier to do business
since 2004
...

From year to year Doing Business has
recorded many more reforms reducing
the complexity and cost of regulatory
processes than reforms strengthening
legal institutions
...
1)
...
It happens
in small economies and in large ones
(box 4
...
Reforms aimed at cutting
red tape and improving regulatory efficiency are generally easier
to implement, because they rarely
involve large institutional players and
they yield relatively quick results
...
Most entail substantial changes
to legal frameworks, are costly to
implement and can take years to yield
positive results
...

The area with the third largest number
of reforms was registering property,
though in previous years it tended to
be trading across borders
...
1 Reforms making it easier to do business in 2013/14 and in the past
5 years
Area of reform

Number of reforms
in 2013/14

Average annual
number of reforms
in past 5 years

Economy improving
the most in area in
2013/14

Complexity and cost of regulatory processes
Starting a business

45

45

Timor-Leste

Dealing with construction permits

16

19

Croatia

Getting electricity

12

12

Solomon Islands

Registering property

21

22

Greece

a

Paying taxes

31

34

Romania

Trading across borders

20

23

Myanmar

Strength of legal institutions
9

10

Colombia

Getting credit—credit information

22

20

Jamaica

Protecting minority investors

30

14

United Arab Emirates

Enforcing contracts

15

13

Kosovo

Resolving insolvency

10

17

Mozambique

Getting credit—legal rights

Note: Because Jamaica implemented changes in the past year in both the strength of legal rights and depth of credit
information components of getting credit, the table shows a total of 231 reforms for 2013/14, though only 230 are
counted as separate reforms
...
Refers to the average for the past 4 years
...


Easing bureaucratic barriers to
start-up
Start-up formalities, while they still
vary around the world, are converging
toward good practices
...
1 at
the end of the chapter)
...
Now
entrepreneurs can complete several
formalities in one place—reserving a
company name, submitting company
documents, applying for registration
and publishing company statutes
...

São Tomé and Príncipe eliminated the
minimum capital requirement for business entities with no need to obtain a

commercial license
...
The
Russian Federation, through amendments to its civil code and federal law,
eliminated the requirement for a company’s founders to deposit the charter
capital before incorporation
...


Cutting red tape in
construction permitting
Doing Business recorded 16 reforms
making it easier to deal with construction permits in 2013/14
...
Djibouti and Ghana
both streamlined their permitting process
...
Mali reduced the time needed
to obtain a geotechnical study
...


REFORMING THE BUSINESS ENVIRONMENT IN 2013/14

BOX 4
...
The Doing Business data do not suggest that this is so
...
Among the 11 large economies, China, Mexico
and the Russian Federation each implemented 2 reforms making it easier to do business, while India and Indonesia each
implemented 3 (see table)
...
It made obtaining a
new electricity connection in Mumbai less costly by reducing the security deposit
...

Indonesia made starting a business easier by making it possible to issue the approval letter for the deed of establishment
electronically
...
And it lowered labor taxes
...
In addition, it reduced employers’ social security contribution rate in
Shanghai and enhanced the electronic system for filing and paying taxes
...
And it made resolving insolvency easier by shortening the time extensions during reorganization proceedings and facilitating electronic submission of documents
...
And it made transferring property easier by eliminating the need for notarization and reducing the time required for property registration
...
Among the 15 reforms captured by Doing Business in these large economies,
most were at the national level and affect both cities measured
...


Croatia made the biggest improvement in the ease of dealing with
construction permits (figure 4
...
New
regulations in the Building Act and
Physical Planning Act that took effect
on January 1, 2014, made it possible to
obtain a building permit before paying
contribution fees for utilities, speeding
up the permitting process
...

In addition, registration of the new

Economy

Reforms reducing
regulatory
complexity and cost

Reforms
strengthening legal
institutions

Note: The table shows data for the 11 large economies for which Doing Business
covers both the largest and the second largest business city
...


building with the land registry is now
done automatically, with no action required by the builder: the municipality
sends documentation to the cadastre
for registration, and the cadastre
sends documentation on to the land
registry
...
As a result of all these changes,

the number of procedures required to
comply with the formalities to build
a warehouse in Croatia fell from 22
to 21, the time from 379 days to 188
and the cost by 0
...


Making it easier to get
electricity
Doing Business recorded only 12 reforms
making it easier to get electricity in

35

36

DOING BUSINESS 2015

FIGURE 4
...


FIGURE 4
...

Source: Doing Business database
...
Revision of the costs for new
connections was the most common
feature of the reforms
...
The big reduction in
cost provides a strong incentive to seek
an official connection to the network
and encourages new business ventures
...
In India the electricity utility
in Mumbai changed its method for calculating the security deposit
...


Another common feature of electricity
reforms was improvement in the efficiency of distribution utilities’ internal
processes
...
Starting in 2014
the utility began tracking how much
time each of its departments takes
to deal with connection requests
...
The utility in Malawi reduced
the time required to get electricity
by outsourcing external connection
works to subcontractors
...
Tackling this
issue was a focus of the utility in
the Solomon Islands
...
2)
...


Simplifying property
registration
In 2013/14, 21 economies made it easier
for businesses to register property by
reducing the time, cost or number of
procedures required
...
Lowering
the property transfer tax can substantially reduce the cost of transferring
property and improve compliance with
property registration and tax regulations, though this type of change needs
to be informed by broader tax policy
discussions
...


FIGURE 4
...
86% of the
property value

20

Making it easier and less costly
to pay taxes

12
10

15

8

10

6
4

5
0

2
1

2

3

4

5

6

7

8

9

10

11

0

Procedures
2013
Procedures
Cost

2014
Procedures
Cost

Note: In 2014 procedures 3, 4 and 5 occur simultaneously with procedure 2 (although procedures may take place
simultaneously, they cannot start on the same day)
...

Source: Doing Business database
...
4 Romania has been making compliance with tax obligations easier in
recent years
Payments (number per year)
Total tax rate (% of commercial profit)

Time (hours per year)

120

240

100

200

80

160

60

120

40

80

20

40

0

2004

2005

2006

2007
Payments

2008

2009

Total tax rate

2010

2011

2012

2013

0

Time

Source: Doing Business database
...
3)
...
In addition, it
simplified property transfers by eliminating the need to submit a tax clearance certificate from the municipality
before signing the sale agreement
...
For example,
Mozambique streamlined registration
procedures at the land registry and the
municipality
...
Senegal replaced the
requirement for authorization from

Doing Business recorded 31 reforms
in 2013/14 making it easier or less
costly for firms to pay taxes
...
Globally, the most common feature of tax reforms in the past
year was the introduction or enhancement of electronic systems for filing
and paying taxes
...

Electronic tax systems, if implemented
well and used by most taxpayers, benefit both tax authorities and firms
...
And for
firms, they reduce the time required to
comply with tax obligations as well as
the potential for errors
...
4)
...
7 The
system was initially launched in 2010,
though with only the possibility of
submitting tax returns online
...
By January 2013
the majority of firms were making their
tax payments online
...
Belarus improved its system for
keeping online records for corporate
income tax and value added tax
...
Belarus also simplified
its rules for deducting expenses for the
calculation of corporate income tax
...


FIGURE 4
...
5)
...
As measured by Doing
Business, exporting now takes 20% less
time than before, and importing 19%
less time
...
New cranes, a conveyor belt and
anchorage tankers at the port of Dar
es Salaam helped reduce berthing and
unloading time as well as congestion
...


Time to import (days)

30

30

25

25

20

20

15

Eleven economies reduced profit tax
rates, the second most common feature of tax reforms in 2013/14
...
Kitts and Nevis,
and the United Kingdom), 3 uppermiddle-income economies (Colombia,
the Seychelles and Tunisia) and 4 lowermiddle-income economies (the Republic
of Congo, Guatemala, Swaziland and
Vietnam)
...


Time to export (days)

15

10

10

5

5

0

2013

0

2014
Document preparation
Customs clearance and inspections

2013

2014

Port and terminal handling
Inland transport and handling

Source: Doing Business database
...
Introducing or improving
electronic submission and processing
of documents was the most common
feature of these reforms
...
Lucia, Uganda
and Uzbekistan—reduced the time to
export and import by implementing
computerized systems that allow
web-based submission of documents
...

Improving customs administration
remained an important item on reform
agendas
...
Lucia and Uzbekistan all did so by
reducing the number of documents
required by customs or streamlining the
process to obtain and submit certain
documents
...
Kazakhstan opened a
new border station and railway link that
reduced congestion at the border with
China
...
And
Uruguay implemented a risk-based inspection system that reduced customs
clearance time
...
Economies in Europe and
Central Asia implemented the most
reforms aimed at strengthening legal
institutions, followed by economies in
Sub-Saharan Africa
...
1 at the end of
the chapter)
...
The
Czech Republic and the Lao People’s
Democratic Republic both created a
modern, notice-based collateral registry
...
Mexico, Rwanda,
and Trinidad and Tobago strengthened
the rights of secured creditors during
reorganization proceedings
...
2)
...

The new law permits all types of movable assets, present or future, to be
used as collateral to secure a loan
...
In addition, it provides priority rules for creditors’ claims
within bankruptcy and establishes
the rights of secured creditors during
reorganization proceedings
...

Jamaica also made noteworthy improvements in the area of legal rights
in the past year
...
Panama
implemented similar changes and also
introduced the possibility of out-ofcourt enforcement of collateral
...
It also introduced the
possibility for the parties to a security agreement to agree to out-of-court
enforcement of the collateral
...


Improving credit information
systems
Jamaica made the biggest improvement in credit reporting in 2013/14
...
Twenty-one other economies
also improved credit reporting, with
the largest number of them in SubSaharan Africa
...
The Democratic
Republic of Congo’s central bank established an electronic system allowing the exchange of credit information
between its credit registry and banks
and financial institutions
...
Creditinfo Tanzania
began responding to inquiries from
data users 2 months after receiving its
license
...


TABLE 4
...


Yes
...


Yes
...


Yes
...


Yes
...


Yes, the new law
establishes clear
grounds for relief
...


Yes, the new law gives
priority to secured
creditors’ claims
...


Yes, the new law allows
a general description
...


Yes, the new law
allows out-of-court
enforcement of
collateral
...


Five Sub-Saharan African economies—
Cabo Verde, Cameroon, Côte d’Ivoire,
Kenya and Senegal—strengthened
their regulatory frameworks for credit
reporting
...
Kenya issued new
regulations allowing the exchange of
positive credit information and establishing guidelines for data retention
...
6 Kosovo cut the time for enforcing judgments in half by introducing a
private bailiff service
Time for enforcement cut from 180 days to 90
Time to enforce
a contract (days)

law
...


200
180
160
140
120
100
80
60
40
20
0

Filing and service

Trial and judgment
2013

Enforcement

2014

Source: Doing Business database
...
Ireland created a regulatory framework for the establishment
and operation of a central credit register
that will be managed by the country’s
central bank
...
And New Zealand,
under its Credit Reporting Privacy Code,
introduced more comprehensive credit
reporting
...


Strengthening minority
investor protections
The United Arab Emirates strengthened minority investor protections
the most in 2013/14, through a new
ministerial resolution on corporate governance rules and corporate discipline
standards
...

The resolution also establishes director
liability for any damage resulting from
prejudicial related-party transactions
and enables courts to cancel such
transactions on grounds of unfairness
...

The most far-reaching change in minority investor protections, however, took
place in January 2014, when the OHADA
(Organization for the Harmonization
of Business Law in Africa) Revised
Uniform Act on Commercial Companies
and Economic Interest Groups simultaneously updated the regulatory
frameworks of 17 member economies
in Sub-Saharan Africa
...
Notably, the amendments
grant litigants increased rights to obtain
evidence relevant to their claims from
the opposing parties
...


Making it easier to enforce
contracts
Doing Business recorded 15 reforms
making it easier to enforce contracts
in 2013/14
...
6)
...
Less than 4% of civil
enforcement cases on court dockets
were completed in 2009, and for
many courts the share was less than
1%
...
S
...
This mapping exercise showed that the lack of
penalties for filing groundless appeals,
the impossibility of seizing most kinds
of assets and the inadequacy of the
regulatory framework for enforcement
officers contributed substantially to
the growing backlog
...
In 2013 Kosovo finished privatizing its judicial enforcement process and

REFORMING THE BUSINESS ENVIRONMENT IN 2013/14

created private bailiff services, expedient execution procedures and penalties
for noncompliant debtors
...
Greece,
Kazakhstan, Lithuania, Mauritius and
Turkey all made their courts more efficient by implementing electronic filing
platforms
...
In
Singapore the judiciary launched an
electronic litigation system designed
to streamline the litigation process
and improve access to justice
...

The Bahamas, Portugal and Uruguay
adopted a new code of civil procedure
or amended procedural rules applicable to commercial cases, mainly
to reduce case backlog, simplify
and expedite court proceedings and
limit obstructive techniques
...
Three economies—the Czech Republic, Ireland
and South Africa—reorganized their
court systems by amending the rules
on the size of monetary claims that
can be filed with courts at different
levels, thus redistributing the workload
among courts and reducing backlog
...
Two economies undertook

such changes in 2013/14
...

The Seychelles established a specialized commercial court and assigned a
permanent local judge to resolve only
commercial disputes
...
Among the most common
features of these reforms were promoting reorganization and improving the
likelihood of successful outcomes in
insolvency proceedings
...
Switzerland
allowed cancellation of long-term
contracts that could jeopardize the
debtor’s rehabilitation
...
Slovenia
also made it easier for creditors to
initiate reorganization proceedings
and propose a reorganization plan,
introduced provisions on debt-equity
swaps and allowed new equity holders to take over management of the
debtor to ensure continuation of the
business
...
3)
...

Other insolvency reforms recorded in
2013/14 focused on streamlining and
shortening time frames for proceedings
...
3 A comparison of
Mozambique’s previous and new legal
frameworks for insolvency
Previous legal
framework

New legal
framework

Can a debtor initiate reorganization proceedings?
No
...


Do creditors vote on the reorganization plan?
No reorganization
available
...


Do creditors vote on the reorganization plan in
classes?
No reorganization
available
...


Can creditors request information about
insolvency proceedings?
No specific provisions
...


Can creditors object to decisions that affect their
rights?
No specific provisions
...


Source: Doing Business database
...

Mexico shortened the time extensions
allowed during reorganization proceedings and made it easier to submit
documents electronically
...
For example, Kazakhstan established provisions for direct participation of all creditors through creditors’
meetings
...
Trinidad and

41

42

DOING BUSINESS 2015

Tobago created a public office responsible for the general administration of
insolvency proceedings and clarified
rules on the appointment and duties
of trustees
...


Addressing labor market
regulation
In 2013/14 Doing Business recorded 9
reforms relating to labor market regulation
...
In 2013 Portugal revised the rules on fixed-term contracts
executed under the labor code that
reach their maximum duration before
November 8, 2015; under the new rules
these contracts can be renewed 2 more
times, with an additional maximum
duration of 12 months, though the
renewed contracts need to end by
December 31, 2016
...
Portugal’s continual
reforms in labor market regulation are
in part a response to the economic
downturn that followed the global
financial crisis
...
2)
...

Cabo Verde introduced a minimum
wage
...
Croatia
lifted the 3-year limit on the duration
of first-time fixed-term contracts,

BOX 4
...
As Doing Business 2013 reported, the pace picked up in the aftermath of the crisis, and this year’s report shows that the trend has continued
...

Greece made starting a business easier by lowering the cost of registration
...
And it
made enforcing contracts easier by introducing an electronic filing system for
court users
...
Italy reduced the minimum
capital requirement, while Spain simplified business registration by introducing
an electronic system that links several public agencies
...

Spain reduced its statutory corporate income tax rate
...
Spain made resolving insolvency easier by introducing new rules
for out-of-court restructuring as well as provisions applicable to prepackaged
reorganizations
...


while Mauritius reduced the maximum
duration of fixed-term contracts to 24
months and Georgia reduced it to 30
months
...

2
...

4
...

6
...


Klapper and Love 2011
...

Branstetter and others 2013
...

Portugal-Perez and Wilson 2012
...

The 6 mandatory labor contributions
measured by Doing Business are those
for social security, health insurance,
unemployment, an accident risk fund, a
guarantee fund and medical leave
...
1 Who reduced regulatory complexity and cost or strengthened legal institutions in 2013/14—and what did they do?
Feature

Economies

Some highlights

Simplified preregistration and
registration formalities (publication,
notarization, inspection, other
requirements)
Abolished or reduced minimum capital
requirement

Albania; Bulgaria; The Gambia; Guatemala;
India; Islamic Republic of Iran; Jamaica; Malawi;
Malta; Mauritius; Nicaragua; Norway; Slovak
Republic; Spain; Swaziland; United Kingdom
Austria; Benin; China; Côte d’Ivoire; Czech
Republic; Denmark; Italy; Moldova; São Tomé
and Príncipe; Senegal; Togo

Cut or simplified postregistration
procedures (tax registration, social
security registration, licensing)
Introduced or improved online
procedures

Armenia; Greece; Jamaica; Lithuania;
Mauritania; Russian Federation; United States

Created or improved one-stop shop

Democratic Republic of Congo; France;
Suriname; Tajikistan; Timor-Leste

Guatemala’s official gazette reduced the time to publish a notice of
incorporation by modifying internal processes
...

China and Côte d’Ivoire both abolished the minimum capital
requirement
...

Lithuania abolished the requirement for a company seal, no longer
used in practice
...

Trinidad and Tobago introduced an online platform for business
registration, reducing registration time from 38 days to 14
...
The
former Yugoslav Republic of Macedonia introduced a free online
company registration system
...


Making it easier to start a business

Azerbaijan; Croatia; Iceland; Indonesia; FYR
Macedonia; Switzerland; Trinidad and Tobago

Making it easier to deal with construction permits
Reduced time for processing permit
applications

Albania; Croatia; Djibouti; Ghana; Lithuania;
Madagascar; Senegal; Thailand

Streamlined procedures

Albania; Brunei Darussalam; Djibouti; Ghana;
Madagascar; Mali; Rwanda

Adopted new building regulations

Albania; Croatia; Lithuania; Montenegro; Nepal

Improved building inspection process

Kosovo; Nepal; Puerto Rico (U
...
)

Reduced fees

Croatia; Rwanda; Tajikistan

Improved or introduced electronic
platforms or online services

Nepal

Lithuania tightened the time limit for issuing special architectural
requirements, cutting the time to obtain a building permit from 42
days to 21
...

Djibouti streamlined the review of building permits by adopting a
3-step process
...

Albania adopted a new law on territory planning, consolidating
the land permit and construction permit into a single construction
development permit
...

Kosovo introduced a new inspection scheme and made the final
inspection process easier by breaking the approval process into several
phases
...

Rwanda eliminated the fee to obtain a freehold title
...

Nepal launched an online system for obtaining building permits
...
In Rwanda the electricity utility
eliminated all its fees for a new connection
...

Indonesia eliminated a redundant internal wiring inspection by
dropping the requirement for a certificate guaranteeing that the
internal installation meets the standards
...
Spain reduced the property registration tax to 6% of the
property value
...
The
Federation; Senegal
Russian Federation eliminated the requirement for notarization of
certain documents
...
In Vanuatu
property records have been scanned, and the land registry is now
using a fully computerized system for land transactions
...
The United Arab
Emirates started licensing companies to act on behalf of the Dubai
Land Department and use its system for property registration
...
1 Who reduced regulatory complexity and cost or strengthened legal institutions in 2013/14—and what did they do?
Feature

Economies

Some highlights

Making it easier to register property (continued)
Set effective time limits

Albania; Kazakhstan; Russian Federation

Introduced online procedures

Azerbaijan; Poland

Introduced fast-track procedures

Sierra Leone

Albania established effective time limits for processing requests at
the local offices for registration of immovable property
...

Azerbaijan introduced a system allowing notaries to obtain
nonencumbrance certificates online
...

Sierra Leone introduced a fast-track procedure for property
registration
...
Kitts
and Nevis; Tunisia; United Kingdom; Vietnam
Belarus; Brunei Darussalam; China; Democratic
Republic of Congo; Latvia; Seychelles
China; Colombia; Indonesia; Togo

Belarus introduced electronic filing and payment for the obligatory
insurance fund in 2013
...


Belarus; Cyprus; West Bank and Gaza

Cyprus reduced the number of provisional tax installments for
corporate income tax from 3 to 2 in 2013
...
Lucia; Uganda; Uzbekistan
Benin; Côte d’Ivoire; Dominican Republic;
Morocco; Myanmar; St
...

St
...

Ghana invested in infrastructure at the port of Tema, which helped
reduce the wait time for vessels outside the port
...

Uruguay implemented a risk-based inspection system that reduced
customs clearance time
...

Latvia introduced a simplified value added tax return in January 2013
...


Making it easier to trade across borders
Introduced or improved electronic
submission and processing
Improved customs administration
Strengthened transport or port
infrastructure
Improved port procedures
Introduced or improved risk-based
inspections

Côte d’Ivoire; Poland
Uruguay

Strengthening legal rights of borrowers and lenders
Created a unified registry for movable
property

Colombia; Hungary; Jamaica; Lao PDR

Introduced a functional, integrated
and comprehensive secured
transactions regime

Colombia; Hungary; Jamaica

Strengthened rights of secured
creditors during reorganization
procedures
Allowed out-of-court enforcement

Mexico; Rwanda; Trinidad and Tobago

Expanded range of movable assets
that can be used as collateral

Hungary; Panama

Czech Republic; Panama

The Lao People’s Democratic Republic established a registry in the
Ministry of Finance for security interests in movable property
...

Colombia approved a new law establishing a modern legal framework
for secured transactions
...
It also
regulates functional equivalents to loans secured with movable property,
such as assignments of receivables and sales with retention of title
...

The Czech Republic adopted new legislation making it possible to
execute a security in any way established by the parties to a security
agreement
...


Improving the sharing of credit information
Expanded scope of information
collected and reported by credit
bureau or registry
Improved regulatory framework for
credit reporting
Established a credit bureau or registry
Introduced bureau or registry credit
scores as a value added service

Bahrain; Cyprus; Mauritania; New Zealand;
Sierra Leone; Taiwan, China; United Arab
Emirates; Zambia
Cabo Verde; Cameroon; Côte d’Ivoire; Dominican
Republic; Ireland; Kenya; Senegal; Slovak
Republic
Democratic Republic of Congo; Jamaica;
Tanzania; Vietnam
Nicaragua; Tajikistan

New Zealand implemented comprehensive credit reporting and began
distributing both positive and negative information in credit reports
...

In Jamaica 2 new credit bureaus, licensed in 2012, started serving
banks and other financial institutions in 2013
...


REFORMING THE BUSINESS ENVIRONMENT IN 2013/14

TABLE 4A
...


Senegal’s code of civil procedure, amended in August 2013, now
permits judges to grant requests from parties to a civil case to compel
evidence from the other party, as long as they are relevant to the
subject matter of the claim
...
The ordinance introduced
multiple safeguards, including establishing compensation committees
and increasing the transparency of directors’ compensation schemes
...


Making it easier to enforce contracts
Increased procedural efficiency at
main trial court

Introduced electronic filing
Introduced or expanded specialized
commercial court
Expanded court automation
Made enforcement of judgment more
efficient

The Bahamas; Czech Republic; Ireland; Portugal; The Bahamas and Portugal introduced new rules of civil procedure
South Africa; Uruguay
to streamline and expedite court proceedings and ensure less costly
resolution of disputes
...

Greece; Kazakhstan; Lithuania; Mauritius;
Greece, Kazakhstan, Lithuania, Mauritius and Turkey all introduced an
Turkey
electronic filing system for commercial cases, allowing attorneys to
submit the initial summons online
...
The
Seychelles established a specialized commercial court and assigned a
permanent local judge to resolve only commercial disputes
...

Kosovo
Kosovo introduced private bailiffs and strengthened its enforcement
process by establishing penalties for noncompliant debtors
...

Kazakhstan expanded the rights of creditors in insolvency, making it
possible for them to remove the debtor from management, nominate
an insolvency representative and approve a plan for the sale of assets
in case of liquidation
...

Spain established a framework for a prebankruptcy, out-of-court
payment agreement
...

FYR Macedonia tightened time frames for several stages of insolvency
proceedings, including inventory and assessment of the debtor’s
property, submission of creditors’ claims and the hearing to examine
claims
...


Changing labor market regulation
Altered hiring rules
Changed redundancy cost and
procedures

Cabo Verde; Croatia; Georgia; Italy; Mauritius;
Portugal
Belgium; Croatia; Finland; France; Georgia;
Portugal

Cabo Verde introduced a minimum wage
...

Finland eliminated the requirement to notify a third party before
dismissing 1 or a group of 9 redundant employees
...

Source: Doing Business database
...
Often a first step is to
formally register a company
...


Formal registration has substantial
benefits for businesses and for the
economy as a whole
...

Their employees benefit from social
security protections
...
1 Moreover, as more
businesses formalize, the tax base
expands, enabling the government to
spend on productivity-enhancing areas
and pursue other social and economic
policy objectives
...
Thus the relative
ease or difficulty of start-up can have
important economic consequences
...
Conversely, excessively cumbersome regulation of startup is associated with higher levels of
corruption and informality
...
3 What makes
an efficient registry? Answering that
question first requires understanding
what registries do
...
4 In doing so, the registry incorporates legal
entities, providing them with a unique
identification, and deregisters insolvent firms
...

These functions enable the government
to measure tax compliance or
avoidance in the formal sector and
to derive other business statistics by
economic sector or by company size
or ownership type
...

ƒ Online platforms for company
incorporation make the process
faster and cheaper
...

ƒ Rwanda has made promoting
private sector development a top
priority on its reform agenda—and
making it easier to register a
business is part of that
...

ƒ The United Kingdom’s corporate
registry actively promotes the use
of electronic services and data
transparency
...

In addition, they promote consumer
protection, as business licensing often
represents a quality check to ensure
that business activities in certain
“high-risk” industries—such as food
preparation and pharmaceuticals—
meet the required health, safety and
environmental standards
...
An effective
electronic database maintains upto-date information and documents
on both newly registered and existing
companies and makes this information
easily accessible, whether online or onsite at the registry’s office
...
But the growing trend of computerization among company registries
has enabled the electronic storage and
maintenance of records
...
In addition, electronic record keeping makes it easier to
extract statistics
...
Globally, 100 economies have
already launched one
...
A
one-stop shop provides a single service
point for completing several business
registration processes
...
Some
one-stop shops are even “one-window
shops”—providing a single point of interaction between an entrepreneur and
all the government agencies involved

in business registration
...


A GLOBAL TREND OF GOING
ELECTRONIC
Putting processes online takes efficiency one step further
...

These enable entrepreneurs to file
incorporation documents electronically
and sometimes even to complete the
entire business registration process
online
...
Among those in the sample, 60%
offer an online application to register a
business, and 58% allow entrepreneurs
to register a business remotely
...
In New
Zealand and Singapore, for example,
entrepreneurs can complete the entire
business registration process online
...

Some economies, especially low- and
middle-income ones, start the digitization process by putting just some
features online—such as conducting
a company name search, filling out
and submitting registration forms
and obtaining an electronic identification number
...
In Kenya business registration
reforms made it possible to complete
the value added tax registration online
...
1 Company registries in high-income economies offer more electronic
services
Share of economies with
electronic service available (%), 2013
100
80
60
40
20
0
High income
Online application

Upper middle income

Lower middle income

Remote registration

Source: World Bank Group, Entrepreneurship Database
...

Streamlining data exchange with other
government agencies to automate such
actions as enrollment in tax and social
security systems can further reduce
processing times
...
And reliable internet and electricity connections are critical to ensure
that online platforms function properly
...
Company registries in
high-income and upper-middle-income
economies tend to offer a much broader
array of online services than those in
lower-income ones (figure 5
...
This pattern is not surprising, because developing and launching online services can
be costly
...
The
cost can range from as low as $20,000
to as high as several million dollars,
depending on the features included
...
20 million Nepalese rupees (about
$447,000) over 3 years to modernize
the country’s registration office
...
In Colombia the operating
costs of the online national business
registration database RUE, which is
hosted on 9 different servers, amount to
$1 million a year
...
Online
platforms make the process faster and
more efficient by eliminating the need
for entrepreneurs to travel to meet with

FIGURE 5
...
Data are for 2013
...

Source: Doing Business database; World Bank Group, Entrepreneurship Database
...
Analysis
of data from 71 economies shows
that business registration for limited liability companies is significantly
faster in those using online platforms
(figure 5
...
And in most cases online
registration is either substantially less
expensive than paper-based processes
or costs the entrepreneur nothing at all
...
Where entrepreneurs have no need to interact directly
with public officials, they are less likely
to use informal payments or to face
deliberate delays aimed at encouraging
bribes
...
9 Economies whose company registry uses online registration,
allowing entrepreneurs to set up new
businesses remotely, tend to score high
on such measures
...

The choice of these countries is based
on geographic diversity, adoption of
good practices, consistent pace of
business registration reform and availability of data
...
3 A surge in newly registered firms after start-up reforms in Rwanda
New firm
density
1
...
0
0
...
6
0
...
5% of income per capita in
fees
...
5
days and 52
...

Rwanda, a country facing a range
of other development challenges,
has shown that improvements in the
regulatory environment—including the
adoption of global good practices—are
well within the reach of low-income
economies
...
2
0
2004

2005

2006

2007

2008

2009

2010

2011

2012

Year with reform
Note: New firm density is defined as the number of newly registered limited liability companies per 1,000 working-age
people (ages 15–64)
...


development—a top priority on its reform agenda
...
10

followed as a new company law was enacted in 2009
...
13

As part of a series of reforms of the
start-up process, in 2008 the government established the Office of the
Registrar General to maintain an efficient business register and promote a
competitive business environment
...
12 By May 2009 it had set up a
one-stop shop, streamlining company
name checking, payment of incorporation fees, and tax and company registration procedures
...
Other priorities include ensuring accurate and timely delivery
of information on its services and
raising awareness of the importance
of formalizing businesses
...
14

As a result of these reforms company registrations surged (figure 5
...

In 2009 alone, 3,028 new limited liability companies were formed—almost
equivalent to the total for the previous
5 years, when 3,374 new limited liability
companies had been registered
...
Its business
regulation reforms have resulted in
cost savings for the private sector
estimated at $5 million, investments
totaling $45 million and about 15,000
jobs
...
In 2013, as part of
these efforts, a new Chilean law made
it possible for entrepreneurs to register
limited liability companies through an
electronic, unified company registry
hosted by the Ministry of Economy
and accessible from anywhere free of
charge
...
It was
also motivated by the government’s
desire to make further strides in the
fight against excessive bureaucracy
and red tape, a widespread problem in
Latin America
...
For
business owners, however, the new law
represented an opportunity to save
time and money and to get access to
the growing amount of funding that
the Chilean government was investing
in business start-ups
...
4 Chile’s online system was soon registering almost half of new limited
liability companies
Share of new companies
created through online system (%)
50
40

The United Kingdom—
simplifying start-up

30
20
10
0

convenient
...
The online registry is built for
expansion, and the government plans
to add new services as well as to allow
other types of legal entities to incorporate electronically
...

Source: Chile, Ministry of Economy, Register of Companies (Registro de Empresas y Sociedades)
...
It allows users to register
a company online at no cost
...
The
process takes only a few minutes and
provides the certificate of existence
instantaneously
...
And
through a web service, the system performs automatic identity checks with
the tax and civil registry authorities
...
Only 7 weeks
after the launch, nearly half of new
limited liability companies in Chile
were being created through the new
online registry (figure 5
...
In the first
8 months, the government estimates,
more than 20,000 companies were
created electronically
...
The ultimate goal
should be to reach an electronic registration rate of nearly 100% (see the U
...

case study as an example)
...
According to the
2006 Companies Act and its 1985 predecessor, all new limited liability companies must register with Companies
House to do business
...
It involved visits to Companies
House, long lines and the higher costs
associated with postal mail
...

But Companies House has greatly
simplified the process—by introducing
electronic filing in 2001, increasing the
transparency of its data and providing model articles of association for

FIGURE 5
...

Source: U
...
Companies House 2013a
...
17 These changes have made
incorporation faster, more convenient
and less expensive
...
All the incorporation forms are
available at no cost on the Companies
House website and come with detailed
instructions
...

Entrepreneurs are making good use of
the electronic filing option
...
5)
...
18

CONCLUSION

NOTES

Many economies have modernized their
company registries, offering a wide
array of online services for a lower fee
or at no cost at all
...
For low-income economies,
introducing online platforms may not
be an affordable or practical solution,
especially if electricity shortages are
common
...
For example, economies
could create physical one-stop shops—
or improve existing ones—to streamline
incorporation processes and coordinate the work of different agencies
...


This case study was written by Baria Nabil
Daye, Paula García Serna, Julie Ryan and
Valentina Saltane
...

2
...


4
...

6
...


8
...


Besides offering online registration,
Companies House has also simplified the preregistration process
...
Companies House made basic
information on existing companies
available at no charge in 1996, allowing
business founders to easily conduct
name searches both online and in its
office
...

Beginning in 2012, Companies House
expanded its company information to
include company number, address, status, incorporation date, accounts and
filing dates for annual returns
...
19 Over the past decade, as
Companies House has increased its data
transparency, electronic procedures and
free resources for business founders, the
number of registered companies in the
United Kingdom has doubled
...
First, a low level of
income need not be an insurmountable obstacle to implementing reforms
that reduce the complexity and cost of
regulatory processes and improve the
quality of the underlying institutions
...
A growing number
of economies with difficult business
environments are gradually adopting
the practices seen in those with more
business-friendly climates
...


11
...


13
...


15
...


17
...

19
...

Motta, Oviedo and Santini 2010; Klapper
and Love 2011
...

See, for example, the website of the
Companies Office of Jamaica at http://
www
...
com/profile/ and that of
the Companies Registry of Hong Kong at
http://www
...
gov
...

De Sa 2005
...

“IFC Helps Nepal Simplify Business
Registration,” World Bank Group, https://
www
...
org
/advisory-services/regulatory-simplification
/business-regulation/business-entry
/nepal-business-registration
...

World Bank Group, Investment Climate
Advisory Services 2009
...

“Rwanda’s Vision 2020: Improving the
Investment Climate for Private Sector
Development,” World Bank Group, http://
go
...
org/2U51FR33M0
...

Information from the website of the
Rwandan Office of the Registrar General at
http://org
...
rw/
...

Information from the website of the
Rwandan Office of the Registrar General at
http://org
...
rw/
...

Simplifica el régimen de constitución,
modificación y disolución de las sociedades
comerciales, Chilean Law 20
...

Moss 2014
...
K
...

U
...
Companies House 2013a
...
1 But
if procedures are too complicated or
costly, builders tend to proceed without
a permit
...
3

For many entrepreneurs, construction
regulation is an important consideration
when deciding where to establish their
business
...
4
One element of construction regulation
is zoning, which regulates the location
and use of certain types of buildings
within a city
...
Maps divide communities into different zones based
on the types of uses allowed—such
as residential, commercial, industrial,
public buildings, parks and green areas
...
These ordinances determine such

factors as building size, height, shape
and color; building location; and urban
densities
...
1)
...

Having an up-to-date zoning system is
therefore essential not only in supporting the coordination among agencies
that is needed for prosperous urban
planning but also in ensuring efficiency
in granting construction permits
...


HOW CAN ZONING AFFECT
ECONOMIC DEVELOPMENT?
Through zoning, governments can
ensure the proper use of land and
avoid mixing incompatible land uses
...
6
Zoning regulations that take into account environmental threats such as
flooding protect citizens by ensuring

ƒ Zoning—the process of planning
for land use across geographic
areas—can help avoid the mixing
of incompatible land uses
...

ƒ Zoning practices vary widely
around the world
...
Others
limit access to the building permit
authority, which checks the zoning
compliance of permit applications
...

ƒ Among OECD high-income
economies the process for obtaining
a building permit, as measured
by Doing Business, takes 19 fewer
days on average in those where the
process includes zoning procedures
than in those where it does not
...

ƒ Guatemala, a recent success story,
introduced a land management plan
in its capital city in January 2009
...


54

Doing Business 2015

Land & 2-story

Figure 6
...


Builder obtains zoning approval (recorded by Doing Business as a
separate procedure only if builder is required to obtain
approval directly from the relevant agency)
...


Builder prepares the necessary drawings and other required documentation
...


Builder applies for and obtains a building permit
...


The relevant authority consults
the zoning maps of the city to
determine whether the project
will be built in an appropriate
location, based on its
specifications
...


Builder completes construction and receives final inspection from the relevant
parties to ensure that the construction was completed in compliance with
building regulations and the conditions set forth in the building permit
...


Builder applies for and obtains the final water and sewerage connection from
the water and sewerage authorities
...


that future development keeps them
and their possessions out of harm’s
way
...

A good zoning plan can help reduce
greenhouse gas emissions by cutting
down on vehicle travel—such as by
promoting higher-density development
and concentrating residential development near job centers
...
7 By ensuring that certain

municipalities include new areas for
housing development and new industries, zoning plans can help address
the challenges associated with demographic change and shifts in business
activity
...

Zoning can help ensure an adequate
supply of safe water and the suitable
disposal of waste
...
8

But where a zoning process is too
complex or restrictive, it can have an
adverse effect on factors such as housing supply and prices
...
According to the
Stockholm Planning Department and
an OECD study, more than half of all
construction projects—including most
apartment buildings—involve designing
or modifying a detailed development
plan
...
10 Many
researchers agree that administrative

ZONING AND URBAN PLANNING

barriers to new construction are one
of the 2 main factors (the other being
rent control policies) that have led to a
housing shortage in Sweden over the
past decade
...
This is done to
ensure that the intended building will
be located in the appropriate zone
(industrial, commercial or residential)
according to the city’s zoning requirements
...

Some economies complete the process
efficiently and effectively by making zoning maps of cities accessible
to builders (in some cases online)
...
In Swaziland, for example,
builders are responsible for checking
the zoning maps and including the zoning information when submitting their
permit application to the municipality
...
The
Department of Buildings will still review
the form to check that the project
complies with the city’s zoning policies
...
In The Bahamas,
for example, a builder is required only
to submit a permit application to the
Building Control Unit
...
In Belize the
Building Plan Committee of the Central
Building Authority checks the permit
application to ensure compliance with
zoning, environmental and fire safety
requirements
...

But efficiency is not all that is important
...
They also need to be regularly updated to reflect changing needs
and developments
...
Of those 65, the largest shares
are in Europe and Central Asia (26%)
and Latin America and the Caribbean
(22%) (figure 6
...
This is a second-best

scenario: a zoning system is still in
place and zoning compliance is still
verified, though not in the most efficient way
...

Thirty-six of the 65 economies require
builders to obtain approval to build in
their intended location before they can
receive a construction permit (table
6
...
Twenty-two of these 36 economies
require a zoning permit as this form of
approval
...
In Canada
the building code requires a builder to
obtain a zoning permit before even
applying for a site plan approval and
the technical review of a development
application
...
In the
Philippines it takes 5 days on average
to obtain the site clearance from the
City Planning and Development Office
that a builder must have to apply for
a construction permit
...
2 Half the economies that require the additional step of obtaining a zoning
or urban planning approval are in Europe and Central Asia or Latin America
South Asia
(2 of 8 economies)
Middle East & North Africa
(7 of 20 economies)
East Asia & Pacific
(8 of 25 economies)

Sub-Saharan Africa
(8 of 47 economies)

11%

3%

Europe & Central Asia
(17 of 26 economies)

26%

12%
12%

22%
14%

Latin America & Caribbean
(14 of 32 economies)

OECD high income
(9 of 31 economies)
Note: The numbers in parentheses are the number of economies out of the total in each region that require the
additional step of obtaining a zoning or urban planning approval
...


55

56

DOING BUSINESS 2015

TABLE 6
...


Cameroon

Canada

Kosovo

Cyprus

Comoros

Lebanon

Finland

Costa Rica

Macedonia, FYR

France

Czech Republic

Madagascar

Kazakhstan

Dominican Republic

Moldova

Latvia

El Salvador

Nicaragua

Lithuania

Fiji

Serbia

Montenegro

Indonesia

South Africa

Morocco

Kuwait

Spain

Netherlands

levels—regional, municipal or special
zoning—providing several options for
verifying the regulatory compliance of
the project
...
S
...

An urban planning clearance or certificate generally outlines conditions relating to the plot of land where the builder
intends to build, including where construction is permitted on the plot (that is, the specific coordinates)
...


average, while obtaining one from the
Chittagong Development Authority
takes 40 days on average
...
In Belgium, for example, an urban planning certificate is
required only for large-scale projects
...

For smaller-scale projects all planning regulations are available online
...

But architects normally request a
certificate because it provides all the
information needed to ensure that
architectural plans are in compliance
with building regulations
...


IS PERMITTING MORE
EFFICIENT WITH ZONING?
While obtaining a zoning or urban planning clearance represents an additional
step in the construction permitting
process, this does not necessarily mean
that economies that require this step
have inefficient permitting systems
...
As measured by Doing Business,
the process for obtaining approval
of a building permit takes 43 days
on average in those where it includes
zoning procedures, 62 days in those
where it does not
...
The reason is that this step avoids
back-and-forth interactions between
the permit-issuing agency and the
architect or even outright rejection of
the project because of noncompliance
...

These economies generally require only

ZONING AND URBAN PLANNING

one procedure to obtain the zoning certificate or clearance
...
In
Indonesia, for example, a builder must
first request a city planning permit and
building site plan—in Jakarta, from the
zoning office, and in Surabaya, from the
one-stop shop—then receive an on-site
inspection and finally receive the city
planning permit
...
By contrast, Namibia
requires only one zoning procedure: the
builder must consult with the Town
Planning Department to ensure that
the land is in the correct zoning area
...

Overall, zoning requirements can lead
to more efficient and less costly construction permitting systems
...
This allows
architects and engineers to finalize the
building specifications with the knowledge that there will be no need to adjust them later in the process because
of possible zoning issues
...
In New Zealand all municipalities have a detailed, up-to-date
zoning plan that has been approved
through a participatory process and
supports an efficient construction
permitting system
...
Construction activity has
increased substantially under the new
zoning system in Guatemala City
...
Its planning and zoning regulations are among the world’s most efficient
...

New Zealand uses 2 main types of planning documents: regional plans and
district plans
...
District plans are detailed planning guidelines that outline the specific
land use and design requirements for
builders
...
Each district
plan is approved through a participatory process in which the district council
holds public hearings to allow residents
to submit suggestions or objections
...

This means that all municipalities in
New Zealand have a detailed, up-todate zoning plan in place that has been
approved through meaningful public
involvement
...

And it provides municipal authorities
with a consistent basis for approving
or rejecting construction permits, with
little discretion involved (figure 6
...


FIGURE 6
...


Is the
land plot in a
permitted
zone?

Yes

Apply for a
construction
permit

No
A project not in the permitted
category requires a resource
consent, an official approval
verifying compliance with the
resource use requirements of
the district plan
...
1: Getting in on the Act,” New Zealand, Ministry
of Environment, http://www
...
govt
...


57

58

DOING BUSINESS 2015

TABLE 6
...
muniguate
...
php
...
According to Doing
Business data, most complex cases are
processed in 100 days
...
First,
there are clearly defined steps for modifying a zoning plan (that is, obtaining
a resource consent), requiring different levels of review depending on the
complexity of the project
...
Second, there are objective
criteria for municipalities to use in
making a decision to approve or reject
a construction proposal—an assessment of environmental effects and a
written consent from affected parties
...
12

Guatemala—a recent success
story
Until 5 years ago Guatemala’s capital
city had a weak zoning system with no
digital zoning maps
...
The city was divided
into 6 main zones that range from rural
to more urban (table 6
...

The municipality developed the new
plan in consultation with both the
private and public sector and widely
publicized it
...
Builders can access the
maps through an online link to verify
that a planned building is in compliance
with the city’s zoning system before
applying for a building permit
...
The square meters of construction authorized by Guatemala
City’s one-stop shop for construction
permitting almost doubled in the first
few years, rising from 1
...
08 million in 2013
...
2 million
square meters by the end of 2014
...
Some citizens
felt that the government was regulating what they could do with their own
land
...
In introducing

ZONING AND URBAN PLANNING

mixed land use, however, the municipality was seeking to address both traffic
issues, by reducing the need for long
commutes, and security concerns, by
ensuring that all neighborhoods would
have activity throughout the day
...
Recognizing the importance
of zoning and urban planning, many
economies have adopted zoning
systems to varying extents
...
These
requirements can lead to more efficient
and less costly construction permitting
systems
...

1
...

3
...

5
...

7
...

9
...


11
...


13
...


World Bank Group, Investment Climate
Department 2013
...

De Soto 2000
...

Grannis 2011; Neumann 2014
...

Schaffner and Waxman 2009
...

In-depth interview with an expert in the
Stockholm Planning Department conducted
by the Doing Business team on December 5,
2013; Hüfner and Lundsgaard 2007
...
stockholm
...

Swedish National Board of Housing, Building
and Planning 2013
...

Zoning maps are available on the website
of the Municipality of Guatemala City at
http://vu
...
com
/index
...

Statistics provided by the Municipality of
Guatemala City
...

ƒ Half of economies around the world
use an electronic database for
checking for charges on property
(encumbrances)—and half have a
geographic information system for
recording maps
...

ƒ Only 56 economies make statistics
about transactions at the land
registry publicly available, and only
63 provide specific means for filing
an official complaint about land
services
...

ƒ A reliable, transparent, complete
and secure land registration system
is associated with greater access to
credit, lower income inequality and
a lower incidence of bribery at the
land registry
...
1 Where
people have proper title to their land,
however, they can use the property as
collateral for a loan or transfer land parcels in which they have invested
...
Indeed, with the protection
of secure title guaranteed by a reliable
land registration system, land can be
used to create wealth for the broader
benefit of society and contribute to
the eradication of poverty
...
3

Doing Business, through its registering
property indicators, measures the
efficiency of property registration
systems through the time, cost and
number of procedures required to
transfer a commercial property
...
This year, for the
first time, Doing Business has collected
preliminary data in 170 economies
on the reliability, transparency and
coverage of land registration systems
and on land dispute resolution (figure
7
...
Next year Doing Business will refine
the newly collected data and intends
to add a new indicator on the quality
of land administration to its current
set of registering property indicators
...
1 What do the data on the quality of land administration systems cover?

Reliability

Data on reliability assess whether the land registry and mapping system
(cadastre) have adequate infrastructure to guarantee high standards and
reduce the risk of errors
...


Transparency

Data on transparency record whether the land administration system makes
land-related information publicly available
...


Coverage

Data on coverage assess the extent to which the land registry and mapping
system (cadastre) provide complete geographic coverage of privately held
land parcels
...


Dispute
resolution

Data on dispute resolution measure the accessibility of conflict resolution
mechanisms and the extent of liability for entities or agents recording land
transactions
...
Clear responsibilities can help
keep the number of unresolved disputes low
...
2)
...
One key
to fulfilling these functions is to have
in place the infrastructure needed to
maintain land information, supported
by an appropriate institutional framework and adequate capacity
...
These questions focus mainly
on how land records are stored at the
land registry, whether the information is kept in an electronic database,
whether the databases for landownership and maps are linked and whether
each parcel has a unique, searchable
identification number
...
In 62 economies
property titles are kept only in paper
format
...
2 What does land administration cover?

Land administration
Land registration system

Surveying and mapping system

A land registry records the ownership and
other legal rights over land
...


A property map index (cadastre) provides
descriptions of land parcels in a specific
jurisdiction based on land surveys
...

It can be used for land taxation purposes
...
4 It also increases the
vulnerability of the records to political
instability, poor climate conditions,
natural disasters or such incidents as
the Great Chicago Fire of 1871, which
destroyed almost all the city’s real estate records
...
5 In Pakistan the
floods of 2010 destroyed thousands
of paper land records, leading to the
loss of the only evidence that people
had of their land tenure
...

Computerization can provide a backup
system to protect information
...
3 Half of economies have an electronic database for encumbrances—and
half have a geographic information system
Share of economies with an electronic
database for encumbrances (%)

Share of economies with a geographic
information system (%)

90
80
70
60
50
40
30
20
10
0

90
80
70
60
50
40
30
20
10
0

Low
income

Lower middle Upper middle
income
income

Source: Doing Business database
...
Many economies are moving
toward computerized land administration systems
...
Mozambique, where a flood
affected land records in 2000, scanned
most of its titles in 2013
...

Other economies scanned all their
historical records
...
An electronic database for encumbrances can quickly
show whether there is a mortgage or
other charges on a property or any
other limitations that would impede its
sale to a third party
...
3)
...
They can also
help ensure a stable source of public
revenue by supporting more complete

61

62

DOING BUSINESS 2015

coverage of property taxes
...
8 Today,
half of economies around the world
have a geographic information system
in place—a computerized system
that can capture, store and analyze
geographic data
...
In SubSaharan Africa, for example, South
Africa and Swaziland both have an
electronic database to record property
boundaries, check maps and provide
updated geographic information on
land parcels
...
It helps in maintaining
up-to-date records on the legal rights
to properties and the spatial characteristics of land plots, thus increasing
tenure security
...
9 In recent years
several economies, mostly in Europe
and Central Asia, have merged their
land registries and cadastral systems
...

Having all agencies use a single identification number for property is also
beneficial
...

A majority of economies use a single
identification number, with the highest
shares doing so in Europe and Central
Asia, the OECD high-income group and
the Middle East and North Africa
...
Complicated
processes and limited availability of
information in the land sector facilitate
such bribery
...
Indeed, cross-country data
show that the greater the quality and
transparency of a land administration
system, the lower the incidence of
bribery at the land registry (figure 7
...


HOW DOES TRANSPARENCY
SUPPORT QUALITY?
Transparency is a key element in the
quality of land administration systems
...
10 Doing Business has collected
data about transparency through a set
of questions focusing on who has access to land information, whether the
fee schedule for land registry services
is publicly available, whether there are
service standards for property transactions, whether statistics about land
transactions are collected and made
available to the public and whether any
specific mechanism is in place for filing
a complaint
...
In 7 of these economies the
fee schedule is not accessible, and in
38 it is accessible only by asking for it
in person from a public official
...

Some economies go even further:

Transparency in a land administration
system provides a defense against
requirements for informal payments,
such as to register property, change
a title, acquire information on land or

FIGURE 7
...
For example; an economy receives 1 point if it has a functional electronic database for
encumbrances; 1 point if it makes the documents and fee schedules for property registration publicly available (online or on
public boards); 1 point if it compiles statistics on land transactions and makes them publicly available and so on
...
The reported incidence of bribery refers to the share of
people reporting in Transparency International’s Global Corruption Barometer 2013 survey that when they had contact
with land services in the previous 12 months; they paid a bribe for services
...
60
...
The analysis is based on 88 observations
...


REGISTERING PROPERTY

FIGURE 7
...


FIGURE 7
...


Sweden has an online system allowing
anyone to access not only information
on fees but also any information on
plots going back 400 years
...
A much cheaper alternative is
to make fees available through public
boards or brochures—the approach
used by land registries in 34 economies
(figure 7
...

Governments can give citizens the
chance to be informed and contribute
to a better business environment by
promoting transparency about their
operations—for example, by tracking
the performance of their land services
and openly sharing statistics about
property transactions
...
13 Panama’s
land registry dedicates a page on its
online portal to transparency, publishing monthly data on the number of
transactions broken down by type—
mortgages, first registrations, transfers
...
6), though only 56 of those make their
statistics public
...

But if the mechanisms through which
individuals or agencies are held accountable function poorly, information
alone will not be enough
...
One is
Malaysia, where the land registry and
the cadastre allow users to file anonymous complaints through their website, which are then sent directly to the
director of the department
...
16

WHERE IS COVERAGE
COMPLETE?
The utility of even the most reliable and
transparent land administration system will be undermined if it covers only
a limited area of the economy
...
17 For
maximum effectiveness, the registry
and cadastre should make records of
all registered private land readily available and the records should cover the
entire economy
...
7)
...

Several economies have increased the
coverage of their land registry and
cadastre by registering properties and
the associated rights through either
systematic adjudication or a more
sporadic approach
...
5 million titles
...
20 More recently,
in 2014 Rwanda completed its process
of regularizing land tenure, aimed
at registering all land in the country
...
It registered 10
...
21 With the process complete,

63

DOING BUSINESS 2015

FIGURE 7
...
22 To prevent land
disputes and better manage existing
ones, the legal framework for land
administration needs to assign clear
responsibilities to the stakeholders
involved in land transactions and provide effective mechanisms of dispute
resolution that can be implemented
in a consistent way and are accessible to all
...


Source: Doing Business database
...
8 How long does it take to resolve a land dispute in the first instance?
Economies by
time required (%)
100
80
60
40

1 year

2 years

Latin America &
Caribbean

South Asia

Sub-Saharan
Africa

Middle East &
North Africa

East Asia &
Pacific

0

Europe &
Central Asia

20

OECD high
income

64

3 years or more

Note: Data refer to a standardized case involving a dispute over a property transfer between 2 domestic companies
...


the land registry is now able to provide
information on different categories of
tenure, through a database searchable
by parcel across the entire country
...
This can
be done by the registrar or by professional agents such as notaries and lawyers, whose legal responsibilities should
be clearly specified in the law
...

In many economies the state provides
a guarantee over property registration
...
The most advanced forms
of guarantee indemnify individuals for
losses suffered because of deficiencies in information provided by the
registry
...
In England and Wales
indemnity is also payable for losses
incurred because of a mistake in an
official search or an official copy
...
9 Good land administration systems are associated with higher levels of
domestic credit provided by the financial sector
Domestic credit provided by
financial sector (% of GDP)
250

Accuracy of information in land registries can help avoid potential disputes
...
25 A dozen economies
have mediation procedures specifically
for land disputes
...
26 The
government set up the National Land
Commission to address fundamental
land tenure issues and develop interim
measures for resolving land disputes
...
But time
requirements vary considerably across
economies
...

There is also much variation across
regions
...
In 80%
of economies in South Asia and 62% in
Latin America and the Caribbean, the
process usually takes 3 years or more
(figure 7
...

Whether a judicial system provides
official statistics on the number of land
disputes filed and resolved can be an
indicator of its overall quality—reflecting something about how well it functions and how transparent it is
...

In Finland, for example, statistics show
that 1,173 land disputes were settled

200
150
100
50
0

0

5

10

15

20

25

30

-50
Score on overall quality of land administration

-100

Note: For an explanation of the scoring on the overall quality of land administration, see the note to figure 7
...
Domestic
credit provided by the financial sector includes all credit to various sectors on a gross basis, with the exception of credit
to the central government, which is net
...
The correlation between the
overall quality of land administration and domestic credit provided by the financial sector is 0
...
The relationship is
significant at the 1% level after controlling for income per capita
...

Source: Doing Business database; World Bank, World Development Indicators database
...
10 Economies with a good land administration system are likely to have
lower inequality
Gini index
70
60
50
40
30
20
10
0

0

5

10

15

20

25

30

Score on overall quality of land administration
Note: For an explanation of the scoring on the overall quality of land administration, see the note to figure 7
...
The
Gini index measures the extent to which the distribution of income or consumption expenditure among individuals or
households within an economy deviates from a perfectly equal distribution
...
The data are for the most recent year available
...
37
...
The analysis is based on 123 observations
...


in the district courts in 2012; these
represented about 0
...

In Georgia 168 land disputes were

65

66

DOING BUSINESS 2015

resolved in 2013, accounting for 1
...
And in Latvia 324 land
dispute claims were filed in 2013, representing 0
...


WHY DOES THE QUALITY
MATTER FOR ALL?
A reliable, transparent, complete and
secure land registration system plays
an important part in supporting access
to credit and economic growth for all
...
Indeed, the higher the
quality of the land administration system, the higher the level of domestic
credit provided by the financial sector
to the economy (figure 7
...

In addition, clear property boundaries
and ownership are important factors in
social stability and social development
...
Having a safe property
registration system for all is associated
with lower levels of inequality (figure
7
...
Economies with a reliable and
transparent land administration system tend to have lower inequality and
to be more inclusive
...
It provides measures of
key elements of land administration
systems—elements that matter for
all people in a society
...
The data also show
that examples of good practice exist in
all regions of the world—and will help
policy makers identify those examples
...

1
...

3
...

5
...


7
...

9
...


11
...


13
...


15
...


17
...

19
...

21
...

23
...

25
...


UN-Habitat 2013
...
This document can take a range
of forms
...

World Bank 1989
...

UN-Habitat 2012
...
fukuoka
...
org
/projects/voices/pakistan/detail01_en
...

Hanstad 1998
...

UNECE 2012
...

Transparency International 2011
...
lantmateriet
...

For more on the information available, see
the website of the Lithuanian Real Property
Cadastre and Register at http://
www
...
lt
...
registro-publico
...
pa
/index
...
html
...
kptg
...
my/?q=en/content
/complaints-enquiries
...
mof
...
mu/English
/Pages/About%20the%20department
/Land
...

Deininger, Selod and Burns 2012
...

Burns 2004
...

Gillingham and Buckle 2014
...

Deininger, Selod and Burns 2012
...

FAO 2012
...


Doing Business 2015
Going Beyond Efficiency

Getting credit

The importance of registries

S

mall and medium-size enterprises account for the largest share
of employment in the developing
world
...
1
These businesses need working capital
to operate, to grow and to compete in
the marketplace
...

The Doing Business indicators on getting credit measure 2 types of institutions and systems that can facilitate
access to finance and improve its
allocation
...

The second focuses on the credit
reporting system, looking at the information collected and distributed
through credit bureaus or registries
...
2
What is an effective secured transactions system? One that promotes the
availability of credit by reducing the risk
to lenders of accepting movable assets
as collateral
...

What is an effective credit reporting
system? One that provides creditors
with the most relevant, reliable, timely

and sufficient credit data as well as
value added services
...

Doing Business collected new data this
year to strengthen the understanding
of secured transactions and credit
reporting systems around the world
...
The depth
of credit information index has been
expanded from 6 points to 8 to also
cover the existence of credit scoring
and online platforms for exchanging
credit data
...
As more complex financial instruments develop and are
adopted worldwide—such as factoring
(where a business sells its invoices
to a third party, called a factor, at a
discount) or financial leases that create hidden rights over property held by
the borrowing company—the need for

ƒ Doing Business has expanded its
measures of the legal rights of
borrowers and lenders and the sharing
of credit information
...

ƒ A functional approach to secured
transactions provides transparency and
predictability for creditors—because
the legal framework covers all rights
in movable assets that secure the
performance of an obligation, regardless
of the type of transaction
...

ƒ A modern collateral registry—
centralized, notice-based and allowing
online access—is important
...

ƒ Credit bureaus or registries offering
online access can provide faster service
and better data quality
...

ƒ Credit scores based on credit bureau or
registry data provide highly predictive
measures of a borrower’s future
repayment capacity and so can help
expand access to finance
...


68

DOING BUSINESS 2015

a system that limits the impression of
“false wealth” becomes paramount
...

This requires legislation that covers
all rights in movable assets that are
created by agreement and that secure
the payment or performance of an
obligation, regardless of the type of
transaction or the terminology used
...

These rights then need to be publicized
through a reliable and affordable public
registration system (figure 8
...
In a
system that includes several registries,
the registries need to be integrated to
the greatest extent possible to ensure
that potential creditors can easily
retrieve all notices of security interests
that have been recorded
...
2)
...
6
In the European Union, as part of the
efforts to harmonize private law, scholars from economies with different legal
traditions have reached consensus on
the importance of a single notion of
security right—with pledges covered
by the same rules and principles for
creation, publicity and enforcement
as assignments of claims, transfers
of ownership, and sales and leaseback
agreements
...
In Belgium a new unitary regime

will come into force in December 2014
...
The new legal
framework will incorporate the provisions on retention of title now included
in the country’s bankruptcy law and will
formally recognize fiduciary transfer
of title
...
Once
implemented, the reform will arguably
be the first of its kind in Western Europe
...
The new legal framework
allows the use of all types of movable
assets, present or future, as collateral
to secure a loan
...
9

FIGURE 8
...


GETTING CREDIT

FIGURE 8
...


This change is expected to increase
transparency and protect the rights of
creditors when taking movable property
as collateral
...
The aim is to
improve the availability of credit to the
private sector while minimizing the risk
of nonpayment of loans
...
The new
legal framework applies to all types of
security documents, including pledges,
leases and floating charges
...
The most recent previous example
was Australia’s implementation of the
Personal Property Security Act of 2009
...

All these reforms entailed creating new
collateral registries or transforming
existing ones
...


A CRITICAL PIECE—THE
COLLATERAL REGISTRY
To be effective, an integrated legal
framework for secured transactions
needs to be accompanied by a modern
collateral registry for movable assets
...

The debtor retains title and possession
...
Collateral
registries both enable potential creditors or buyers to discover any existing
liens over property and allow them to
register their own security interest,
establishing priority over other creditors in case of the debtor’s default
...
In economies that
introduce one, access to bank finance
rises by about 8 percentage points on

average, while interest rates decline
by about 3 percentage points and the
terms of loans increase by about 6
months
...

In 5 such countries that recently created registries and reformed secured
transactions
laws—the
Marshall
Islands (2010), the Federated States
of Micronesia (2007), the Solomon
Islands (2009), Tonga (2011) and
Vanuatu (2009)—the number of filings
had reached a total of more than
20,000 by January 31, 2014, while
the number of searches had exceeded
60,000
...
13 Implementing and maintaining a modern and well-functioning collateral registry may entail significant
financial and administrative efforts
...


Key features of a modern
collateral registry
As model laws and legislative guides
have evolved with technology over the
years, they have encapsulated a set
of good practices that serve as generally accepted standards for modern
collateral registries
...

While traditional registries usually
require a copy of the loan agreement
or other documents, notice-based
registries require no documentation
other than a simple generic form that
records the existence of a security
interest, providing the names of the
creditor and the debtor as well as a
general description of the collateral
asset and the obligation secured
...
It also
improves the quality of registration:
with less documentation, the potential
for errors is minimized
...

Online systems allow users to perform
searches and register security interests
from anywhere and at any time
...
Online
registration also transfers the burden of
preventing errors to the interested party
...
To
be effective, these registries also need
to allow searches based on unique
search criteria—such as a debtor’s
unique identifier (or name, if no unique
identifiers exist) or a serial number
(for serial-numbered assets such as
vehicles)—and they need to encompass both legal and natural persons
as well as all types of assets
...
In the fragmented collateral
registry system for chattel mortgages
in the Philippines, for example, finding
out whether an asset is mortgaged
requires submitting a request to more
than a hundred registries
...
In some economies
with a common law tradition, rights
over movable property are customarily recorded in separate registries for
incorporated and nonincorporated
entities
...


Different legal traditions,
different practices

The strength of legal rights index
is consistent with good practices
in secured transactions law, such
as allowing both incorporated and

While the registration of collateral
claims is common practice in many

In some civil law economies registration of securities takes place at the
local court of first instance or at the
commercial registry
...
3)
...
3 Which economies have collateral registries—and of which type?

Note: The map reports operational collateral registries as recorded by Doing Business—those that are for all entities, are centralizied geographically and by asset type and have an
electronic database indexed by the debtor’s name or unique identifier
...
Registries that are fully online allow searches, registrations, amendments and cancellations to be carried out
online by any party with a legitimate right to do so
...


GETTING CREDIT

nonincorporated companies to create
security interests over all categories
of movable assets
...
The indicator focuses on the
first 4 of these functional equivalents
and rewards economies in the scoring if at least 3 of them are recorded
at the same collateral registry
...

But because of different approaches
in their implementation, the wave of
reforms in the region has not led to
consistent results
...
4)
...
) While
their primary objectives might differ,
both types serve the same purpose:
reducing information asymmetries to
help increase access to credit
...


Borrowers have more information
about their past credit behavior and
current financial situation than creditors do
...
Banks
are more likely to lend to larger firms,
which usually are required to adopt
international accounting standards,
are more transparent and bear less risk
of default
...
This information sharing
helps poor people and micro and small
businesses
...
17 A 2007 study
found that in developing economies
access to credit grew twice as fast

FIGURE 8
...
Credit bureau
networks tend to be more complex than credit registry networks because they generally include a larger variety of data providers and data users
...
51
...
18
Good credit reporting systems combined with strong rule of law can be a
catalyst for growth in frontier economies with many young firms and entrepreneurial ventures
...
19
Credit information systems also reduce
firms’ reliance on informal credit, whose
high interest rates and lack of protections can be destabilizing both to the
firms and to the overall economy
...
According to a study surveying
more than a thousand consumers in
the United States with primary or joint
responsibility for paying bills, half said

that they would be more likely to pay
their bills on time if those payments
were fully reported to credit bureaus
and could affect their credit score
...
21 And when credit reporting compels borrowers to establish
consistent repayment patterns, financial institutions face less uncertainty
in their debt exposure and can lower
interest rates
...

One study found that credit registries
played a valuable role in calculating
credit risk for capital and in supervising
and checking banks’ internal ratings in
Argentina, Brazil and Mexico
...
24
The number of economies with a credit
bureau covering at least 5% of the adult
population as recorded by Doing Business
grew from 49 of 145 economies in 2004
to 94 of 189 in 2014—while the number
with a credit registry covering at least
5% increased from 22 of 145 economies
to 58 of 189 (figure 8
...
Globally, 28
economies have both a credit registry
and a credit bureau covering at least 5%
of the adult population
...
Several did so in the past
year
...
Thanks to the
launch of their operations, Jamaica was
the economy that made the biggest

Figure 8
...
The map reports operational credit reporting service providers as recorded by
Doing Business that have a coverage of at least 0
...

Source: Doing Business database
...

Three other economies also developed
new credit reporting systems in the
past year
...
Tanzania’s central
bank licensed the country’s first credit
bureau, Creditinfo Tanzania, in June
2013, and its second credit bureau, Dun
& Bradstreet Credit Bureau Tanzania, in
September 2013
...
By
April it was providing credit information to 23 of 47 commercial banks in
the country as well as market education and training
...
In June 2013 the
West African Economic and Monetary
Union set up a legal framework providing for the establishment of credit
bureaus in member states
...


FEATURES OF MODERN
CREDIT INFORMATION
SYSTEMS
The vast majority of credit reporting
service providers offer online access
to their databases, which provides
data users with faster, more efficient
service and can ensure better data
quality
...

These scores are different from those
developed on the basis of individual
lenders’ data and provide a highly
predictive measure of a borrower’s repayment behavior
...


The efficiencies of online access

connection further ensures system efficiency and high service standards for
users because it eliminates data duplication, reduces the risk of human error
and allows the streamlining of work
flows with appropriate business and
validation rules
...


More efficient credit reporting service
providers share their data online
...
One way to do so is
through an online platform accessed
with a traditional internet browser
...
Once connected to the
system, the user can retrieve credit
reports autonomously
...
In 119 of
126 economies with a functioning credit
bureau or registry covering at least 5%
of the adult population as recorded by
Doing Business, data users can access
borrowers’ credit information online
...


Another way to provide online access is
through a system-to-system connection, where the user’s system is connected to and integrated with the credit
reporting service provider’s system
...
Data
are updated automatically, and users
retrieve credit information by accessing
their own system, with no need to log
into the service provider’s system
...
A system-to-system

FIGURE 8
...

Source: Doing Business database
...


least 5% of the adult population (figure
8
...
In the Middle East and North Africa
this is the case in about 85% of economies that have such a credit bureau or
registry, while in Sub-Saharan Africa it
is the case in only 71%
...
This
system is aimed at improving both
the credit registry’s efficiency—by
reducing the time it takes to verify
credit information from one week to
just a few minutes—and the accuracy of data
...


Online access to credit reporting
systems is growing in the developing
world
...
A pilot program
was launched in August 2011 with 3
commercial banks, and by April 2012
the online system was fully implemented
...
The objective for
the online system is to preserve and
distribute 5 years of historical data on
the repayment status of all loans
...

These include credit scoring, marketing
services, portfolio monitoring, fraud
detection and debt collection
...


Bangladesh’s central bank (Bangladesh Bank) launched an online system
for its credit information bureau in July
2011 to allow banks and other financial
institutions to exchange information
on borrowers and loan repayments
electronically
...
7—How many economies have a credit bureau or registry providing credit
scores?
Sub-Saharan Africa

4

13

Latin America & Caribbean

21

16

4

OECD high income

1

11

24

Europe & Central Asia

6

10

East Asia & Pacific

4

Middle East & North Africa

5

South Asia 1 4
0

15
12
8

1

1

2
5

9

7
2

2 1
5

10

15

20

25

30

35

40

45

50

Number of economies
Credit bureau or registry with at least
5% coverage exists and offers credit scores
Credit bureau or registry with at least
5% coverage exists but does not offer credit scores

Credit bureau or registry exists
but has less than 5% coverage
No credit bureau or registry exists

Note: Credit scores are those based on credit bureau or registry data
...

Source: Doing Business database
...
They
therefore include characteristics otherwise unavailable to any individual
creditor, such as total exposure, number of outstanding loans and previous
defaults within the system
...
To sharpen the predictive
value of credit scores, credit bureaus
and registries also are increasingly
collecting data from a wider range of
sources (such as bankruptcies and
court judgments)
...
26
Credit scores may improve market
efficiency and provide borrowers with
more opportunities to obtain credit
...

Credit scoring based on credit bureau
or credit registry data is offered in 64 of
126 economies with a credit reporting
service provider covering at least 5%
of the adult population as measured
by Doing Business
...
7)
...


GETTING CREDIT

FIGURE 8
...

1
...

3
...

5
...

0

0

40

80

120

160

200

240

280

320

Domestic credit to private sector (% of GDP), 2013
Note: Domestic credit to private sector refers to financial resources provided to the private sector by financial
corporations, such as through loans, purchases of nonequity securities, and trade credits and other accounts
receivable, that establish a claim for repayment
...
34
...

Source: Doing Business database; World Bank, World Development Indicators database
...
Analysis
of data collected for the strength of legal
rights and depth of credit information
indices confirms that economies that
score high on these indices also have
higher levels of domestic credit provided
to the private sector by financial institutions (figure 8
...

The results show that both transparency
in the secured transactions system and
access to credit information—elements
that create predictability for secured
creditors and provide lenders with
tools to assess the creditworthiness
of borrowers—are associated with a
higher level of private sector credit,
and this leads to more business
creation or expansion in the long term
...


CONCLUSION
Effective systems for secured transactions and credit reporting can improve
access to finance for small and mediumsize enterprises
...
Analysis of these data
shows a significant correlation between
better performance on the getting
credit indicators and higher levels of
domestic credit provided to the private
sector by financial institutions
...


7
...

9
...

11
...

13
...

15
...

17
...

19
...

21
...


23
...


25
...


Kuntchev and others 2012
...

UNCITRAL 2007
...

The European Bank for Reconstruction and
Development has used its 1994 Model Law on
Secured Transactions to promote a functional
approach in Eastern Europe, while the
Organization of American States has used its
2002 Model Inter-American Law on Secured
Transactions to promote the approach in
Latin America and the Caribbean
...
3), “the
advantage of this approach would be that
all aspects of the law relating to secured
transactions could be set out in one place
...
It could also
result in useful clarification and simplification
of the law
...

The relevant provisions of the Belgian Civil
Code are in articles 2071–84 on pledge
...

Alvarez de la Campa 2011
...

Asian Development Bank 2013
...

Tajti 2013
...

Luoto, McIntosh and Wydick 2004; Brown,
Jappelli and Pagano 2009
...

Brown and Zehnder 2007
...

Turner and others 2009
...

Brown and Zehnder 2007; Luoto, McIntosh
and Wydick 2004; Brown, Jappelli and
Pagano 2009; Behr, Entzian and Guettler
2011
...

Statistics refer to the number of individuals
and firms covered in 126 economies with
functioning credit bureaus and registries
covering at least 5% of the adult population as
recorded by Doing Business
...

World Bank 2011a
...

ƒ Economies with the most developed
securities markets tend to have the
highest average scores on the 3 new
indices
...

ƒ Among 189 economies worldwide,
India follows the largest share of the
good practices measured by the new
indices
...

ƒ Overall, minority investors are
more protected in economies that
distinguish between shareholders of
listed companies and shareholders
of nonlisted ones
...
This
essential separation enables a
business to flourish or fail separately
from the personal assets and interests
of its members (whether owners, directors or employees)
...

But the separation also creates risks
...
Without adequate safeguards,
corporations can become vulnerable
to abuse, with insiders using corporate assets for personal gain to the
detriment of other stakeholders
...
The quality of the rules and
regulations governing corporations is
therefore fundamental to functioning
markets and wealth-generating economic activity
...
Stronger
protection of minority shareholders in

prejudicial related-party transactions
is associated with a higher level of
development in capital markets—as
reflected by such indicators as higher
market capitalization, larger numbers
of listed domestic firms, more initial
public offerings and lower private benefits of control
...
Stronger
legal protection of minority investors
increases the confidence of investors
in markets, making them more likely
to invest
...

Recent studies provide empirical
evidence that corporate governance
standards aimed at protecting minority shareholders promote positive
economic outcomes at the country
and firm level
...

Sound rules and regulations in these
areas of corporate governance can
minimize the agency problem between
majority and minority shareholders as
well as that between minority shareholders and the board of directors and
management
...
5 In addition,
numerous studies suggest that investors will charge higher rates to provide
financing if they are not assured of an
adequate return or if they fear expropriation by corporate insiders
...
Several other
studies highlight the positive impact
on firm-level resource allocation and
long-term returns of having audit committees, of ensuring the independence
of the board and of having different
people serve as chief executive officer
(CEO) and chair of the board
...
This is done
by positing specific sets of assumptions about a transaction between
2 companies that involves a clear
conflict of interest
...


measures other aspects of corporate
law that are unrelated to this transaction but that are also indicative of
the strength of protection of minority shareholders
...
1)
...
To expand the coverage
of the indicators, the Doing Business
team first used academic literature
and institutional reports to identify
regulatory good practices that support the relevant policy goals (box
9
...
The team then selected those
that could be objectively measured
and independently justified, that offer
variation across economies and that
lend themselves to data collection and
verification through the annual Doing

BOX 9
...

• Three indices added to measure protections in matters
beyond conflicts of interest:
extent of shareholder rights
index, strength of governance
structure index and extent of
corporate transparency index
...

See the data notes for a detailed
description of changes and additions to the methodology
...

Previously the protecting minority
investors indicators assessed 18 components of the quality of regulations
...
1 Shareholder rights in listed and nonlisted companies are consistent in most
economies
Shareholders can remove directors
before the end of their term
...

Shareholders approve the election and
dismissal of the external auditor
...

Shares can be freely traded prior
to a major corporate action
...

Shareholders have the right to amend bylaws
or statutes with a simple majority
...

Source: Doing Business database
...
In addition,
a new component on the allocation of

legal expenses associated with shareholder litigation has been added to
the existing ease of shareholder suits
index
...
2 Standard setters and good practices
Corporate governance practices around the world have been converging over the past 2 decades
...
It is also being driven by capital market trends—
such as the growing use of cross-listings and dual listings—that lead to the adoption of common regulatory practices
...
The methodology for the protecting minority investors indicators promotes good practices recommended by the
OECD Principles of Corporate Governance
...
They also capture the rights of minority
shareholders to be informed about, and to participate in, general shareholder meetings and decisions relating to extraordinary transactions, consistent with principle 2 (rights of shareholders and key ownership functions)
...
And the extent of disclosure index directly follows principle 5 (disclosure and
transparency), while the extent of director liability index echoes principle 6 (responsibilities of the board)
...
Two organizations—
the International Accounting Standards Board, an independent body that sets the International Financial Reporting
Standards (IFRS), and the Financial Accounting Standards Board (FASB), a U
...
-based organization that develops the
Generally Accepted Accounting Principles (US GAAP)—have focused on driving this convergence over the past 15 years,
issuing unified accounting standards for use by companies worldwide in both domestic and cross-border financial
reporting
...
An important benefit of a single set of high-quality, globally accepted accounting standards is that investors can understand and compare the financial results of any company in the world
...
b

Securities regulations
The International Organization of Securities Commissions (IOSCO) is an association of organizations that regulate securities markets
...
c
Another important driver of convergence in securities regulations is the increase in cross-listings and dual listings
...
Research
has found that cross-listing on a U
...
stock exchange by a non-U
...
firm is associated with a significantly positive stock
price reaction in the home market
...

a
...

b
...
S
...

c
...
S
...
sec
...
shtml
...
iosco
...

d
...


PROTECTING MINORITY INVESTORS

as appointing and removing board
members, issuing new stock and
amending the company’s bylaws—is
key to avoiding abuses by corporate
insiders
...
1)
...
For example, risks associated
with conflicts of interest increase
exponentially when a CEO can also be
chair of the board of directors or when
there is no requirement for a minimum
number of independent directors
...
2)
...
For
example, where companies are required
to disclose information about their
finances, about the remuneration of
their managers and directors and about
other directorships they hold, research
has found that this transparency
improves corporate governance and
lowers the cost of investment in
capital markets
...
Access to complete and

accurate financial information is crucial
to efficiently deploying investor capital
(figure 9
...


Allocation of legal expenses in
shareholder litigation
Comprehensive rights are moot
without effective ways to assert them
...
But such lawsuits,
which often target companies (and
directors or managers) with deeper
pockets, are unlikely to occur unless

FIGURE 9
...

A buyer must make an offer to all shareholders
upon acquiring 50% of the company
...

A subsidiary is barred from acquiring
shares issued by its parent company
...

The board of directors must include
independent board members
...

0

10

20

30

40

50

60

70

80

90

100

Share of economies where good practice applies (%)

Nonlisted companies

Listed companies

Note: The good practices are those measured by the strength of governance structure index
...


FIGURE 9
...

Financial statements must
contain explanatory notes
...

A company must disclose ownership
stakes representing 10%
...

Managerial compensation must be
disclosed on an individual basis
...

Source: Doing Business database
...
The indicators
now measure whether legal expenses
incurred by shareholder plaintiffs
can be charged to the company and
whether plaintiffs can pay attorney
fees depending on the damages they
recover in court
...
1 OECD high-income economies offer the strongest protections overall and
as measured by the new indices
Average score (0–10)
Extent of conflict
of interest
regulation index

Extent of
shareholder
governance index

Strength of minority
investor protection
index

OECD high income

6
...
2

6
...
0

5
...
9

Region

Overall, OECD high-income economies
have the strongest protections of
minority shareholders as measured by
Doing Business
...
1)
...

Worldwide, India, France, Albania,
Croatia and Switzerland have among
the highest scores on the 3 new indices
...

Among the regions with lower average
scores on the 3 new indices, SubSaharan Africa suffers from having
less developed securities regulations
and capital markets, while the results in East Asia and the Pacific and

5
...
3

5
...
5

4
...
0

Middle East & North Africa

WHAT DO THE RESULTS
SHOW?

South Asia
East Asia & Pacific

4
...
6

4
...
1

4
...
6

Sub-Saharan Africa

4
...
4

4
...
The extent
of conflict of interest regulation index is the average of the extent of disclosure, extent of director liability and ease
of shareholder suits indices
...
For details on how the indices
are constructed, see the data notes
...


FIGURE 9
...
34
...
The sample includes 116 economies for which data on market capitalization are available
...


Latin America and the Caribbean
are attributable mostly to outdated
company laws and the heterogeneity
of the economies in these regions
...


A similar phenomenon is apparent in
Latin America and the Caribbean when
comparing Brazil and Colombia, which
have the region’s highest scores, with
such economies as Haiti, Grenada and
St
...

Globally, the results are in line with the
results of research in this area suggesting positive correlations between

PROTECTING MINORITY INVESTORS

FIGURE 9
...
The numbers shown in the bars are the number of economies in each
category within each region
...


minority investor protection and economic outcomes: economies that have
stronger regulation of related-party
transactions and a greater minority
shareholder role in corporate governance also tend to have, for example,

higher market capitalization (figure
9
...

Moreover, economies that tend to have
greater shareholder involvement in corporate governance, as measured by the

FIGURE 9
...

Source: Doing Business database
...

The results thus confirm the validity
of using the quality of regulation of
related-party transactions as a proxy
for the overall quality of corporate
governance
...
Among the 189
economies covered by Doing Business,
124 apply stronger regulations to listed
companies than to nonlisted ones, so
that shareholders of listed companies
are more protected
...
5)
...

But applying the same standards to
both types of companies does not
necessarily mean better overall protection of shareholders
...
6)
...


81

82

DOING BUSINESS 2015

CONCLUSION
Results on the 3 new indices highlight
great variation across the 189 economies covered in the rights, responsibilities and protections afforded to minority
shareholders, whether they are investing in a nonlisted company or in a listed
one
...

It also sheds light on the protection of
shareholders in nonlisted companies,
an aspect on which data are seldom
collected and yet that could prove to be
a particularly important area of legislation and source of economic growth in
economies with less developed stock
exchanges and capital markets
...


NOTES
This case study was written by Nadine Abi
Chakra and Hervé Kaddoura
...


2
...

4
...

6
...


8
...


Djankov, La Porta and others 2008
...

Black and others 2010; Dharmapala and
Khanna 2013
...

Cremers and Ferrell forthcoming;
Balasubramanian, Black and Khanna 2010;
Caixe and Krauter 2013
...

Chen, Chen and Wei 2011
...

See the data notes for the full list of
components added this year
...


10
...

11
...

12
...


Doing Business 2015
Going Beyond Efficiency

Paying taxes

Trends before and after the financial crisis

T

axes matter for the economy
...
But policy makers
face a difficult challenge in formulating good tax policies: they need to
find the right balance between raising
revenue and ensuring that tax rates
and the administrative burden of tax
compliance do not deter participation
in the system or discourage business
activity
...
In an
economic downturn some categories
of public spending may automatically rise, putting pressure on deficits
...


WHY TAX POLICY MATTERS
DURING CRISES
The global financial crisis of 2008–09
had a dramatic impact on national tax
revenue and led to a sharp increase in
deficits and public debt
...
7% of GDP worldwide
...
1% of GDP in 2009
...


Fiscal measures were part of the policy
toolkit that governments brought to
bear in supporting the recovery
...
2 Governments generally
reduced the rates and broadened the
base for corporate income tax while increasing the rates for the consumption
tax or value added tax (VAT)
...
In addition, several EU members reduced
their corporate income tax rate and
changed corporate tax bases
...
By contrast, EU members
commonly increased VAT rates along
with statutory rates for energy and
environmental taxes and for alcohol
and tobacco taxes
...
5 Unifying VAT rates

ƒ Over the 9-year period ending in
2012, the global average total tax
rate as measured by Doing Business
fell by 9
...
Its
rate of decline was fastest during
the global financial crisis period
(2008–10), averaging 1
...

ƒ The average profit tax rate dropped
sharply during the crisis period and
then started to increase slightly
in 2012
...

ƒ The administrative burden of tax
compliance has been steadily easing
since 2004 with the growing use
of electronic systems for filing and
paying taxes
...
The pace of reform
accelerated with the onset of the
crisis, then slowed in subsequent
periods
...
6
Along with falling revenue, the global
financial and economic crisis also led to
growing tax compliance risks in some
economies
...
But
in an economic downturn businesses
tend to underreport tax liabilities,
underpay the taxes due, fail to file their
tax returns on time and even engage
in transactions in the informal sector
...


BEFORE AND AFTER THE
CRISIS—A 9-YEAR GLOBAL
TAX PROFILE
Doing Business has been monitoring
how governments tax businesses
through its paying taxes indicators for
9 years, looking at both tax administration and tax rates
...
Doing Business looks at
tax systems from the perspective of
the business, through 3 indicators
...
8
These taxes and contributions include
corporate income tax, labor taxes and
mandatory contributions, property
taxes, vehicle taxes, capital gains tax,
environmental taxes and a variety of
smaller taxes
...


Two other indicators measure the complexity of an economy’s tax compliance
system
...
The time indicator measures
the hours per year required to comply
with 3 major taxes: corporate income
tax, labor taxes and mandatory contributions, and VAT or sales tax
...


Falling tax cost for businesses
Globally, the total tax rate for the
Doing Business case study company
averaged 43
...
9 Over the 9-year period ending
that year, the average total tax rate
fell by 9
...
Its rate of
decline was fastest during the crisis
period (2008–10), averaging 1
...
The total tax rate fell

by an average of 0
...

The average rate for all 3 types of taxes
included in the total tax rate—profit,
labor and “other” taxes—also fell over
the 9 years (figure 10
...
10 “Other” taxes
decreased the most, by 5
...
7
percentage points) and labor taxes (0
...

The main driver of the drop in “other”
taxes was the replacement of the
cascading sales tax with VAT by a
number of economies, many of them in
Sub-Saharan Africa
...
11 This
shift substantially reduces the tax cost
for businesses: while a cascading sales
tax is a turnover tax applied to the full
value at every stage of production, a
VAT is imposed only on the value added
at each stage, and the final consumers
bear the burden
...
1 A global trend of steady decline in the total tax rate
Global average total tax rate
(% of commercial profit)
20
19
18
17
16
15
14
13
12
11
10

2004

2005

2006

Profit tax

2007

2008
Labor tax

2009

2010

2011

2012

Other taxes

Note: The data refer to the 174 economies included in DB2006 (2004)
...

Source: Doing Business database
...
Its average total tax rate
dropped by almost 17 percentage
points between 2004 and 2012
...
4% in 2012 (figure 10
...
12
In addition, many African economies
lowered rates for the profit tax, reducing its share in the total tax rate
...

Where taxes are high, businesses are
more inclined to opt out of the formal
sector
...

Other economies introduced new taxes
during the 9-year period
...
The new tax remained in force
until December 31, 2012
...
Also in 2009, the Kyrgyz
Republic introduced a new real estate
tax that is set at 14,000 soms (about
$270) per square meter and further
adjusted depending on the city location, the property’s location within the
city and the type of business
...
The average rate
for labor taxes and mandatory contributions remained stable throughout
the 9-year period regardless of the
financial crisis
...

The 9-year trends for the 3 types of
taxes included in the total tax rate are

FIGURE 10
...
The Bahamas, Bahrain, Barbados, Brunei
Darussalam, Cyprus, Kosovo, Liberia, Libya, Luxembourg, Malta, Montenegro, Myanmar, Qatar, San Marino and South
Sudan were added in subsequent years
...


BOX 10
...
But electronic tax systems, if implemented well and used by most taxpayers, benefit both tax authorities and firms
...
This allows administrative resources to be allocated to other tasks, such as auditing
or providing customer services
...
It reduces the time and cost
required to comply with tax obligations and eliminates the need for taxpayers
to wait in line at the tax office
...
And it can lead
to a lower rate of errors
...
Of the 314 reforms making it easier or less costly to pay taxes
that Doing Business has recorded since 2004, 88 included the introduction
or enhancement of online filing and payment systems
...
By 2012, 76 economies had fully implemented
electronic systems for filing and paying taxes as measured by Doing Business
...

a
...


reflected in the changing composition
of this rate
...
The profit tax share rose
slightly, while “other” taxes fell from

85

86

DOING BUSINESS 2015

FIGURE 10
...

The administrative burden for all the
types of taxes eased over the 9 years
...
This is thanks mainly to
the introduction of electronic systems
for filing and paying taxes and to administrative changes merging the filing
and payment of labor taxes levied on
the same tax base into one return and
one payment
...
1)
...

The number of payments decreased
steadily over the 9-year period
...
The Bahamas, Bahrain, Barbados, Brunei
Darussalam, Cyprus, Kosovo, Liberia, Libya, Luxembourg, Malta, Montenegro, Myanmar, Qatar, San Marino and South
Sudan were added in subsequent years
...


32% of the total in 2004 to only 25%
in 2012
...
7 payments and
put in 268 hours (nearly 7 weeks) on
average
...


Consumption taxes have consistently
been the most time consuming, requiring 106 hours in 2012, with labor
taxes and mandatory contributions
not far behind (figure 10
...
Corporate
income tax takes the least time
...

Labor and consumption taxes are often
filed and paid monthly and involve repetitive calculations for each employee
and transaction
...
Doing
Business recorded 118 changes implemented that year making it easier or
less costly to pay taxes (figure 10
...
13
The pace of reform slowed in the period
immediately after the crisis: in 2011
Doing Business recorded only 43 such
changes
...
5)
...
The next most common changes were those enhancing or introducing
electronic systems for filing and paying
taxes online—38 such changes were
reported in total
...
Also common were changes to
tax deductibility and depreciation rules
that would respectively lower the tax
cost for businesses and provide them
with greater flexibility in planning their
cash flow (with a total of 33 recorded)
...
2)
...
Moldova
temporarily reduced its rate from 15%
to 0%, effectively eliminating any tax on
profits in 2008–11, then set the rate at
12% from January 1, 2012
...
Others introduced temporary
additional rate reductions
...
5% in 2009 as part of a stimulus
package for small and medium-size
businesses, then restored the standard
rate for the following year
...
4 An accelerating pace of tax reform during the global financial crisis
Number of changes making it easier or less costly to pay
taxes as measured by Doing Business
120
100
80
60
40
20
0

2004

2005

2006

East Asia & Pacific
Europe & Central Asia
OECD high income

2007

2008

2009

2010

Latin America & Caribbean
Middle East & North Africa

2011

2012

South Asia
Sub-Saharan Africa

Note: The data refer to the 174 economies included in DB2006 (2004)
...
The changes shown for each year are those recorded from June 1 of that year
to June 1 of the following year
...


FIGURE 10
...
Romania, having introduced
a minimum income tax in May 2009,
abolished it in October 2010
...

Portugal introduced tax brackets for
profit tax in January 2009
...

To stimulate investment in specific
areas, some economies increased the
percentage of allowance that could be
applied on certain assets or allowed the

20
10
0
2004

2005

2006

2007

2008

Abolished or merged taxes
Introduced or enhanced electronic system
Reduced labor taxes

2009

2010

2011

2012

Made changes in tax depreciation or
deductibility rules that reduced tax cost
Reduced corporate income tax rate

Note: The data refer to the 174 economies included in DB2006 (2004)
...
The changes shown for each year are those recorded from June 1 of that year
to June 1 of the following year
...

Source: Doing Business database
...
Thailand,
for example, encouraged capital investment with accelerated depreciation for
equipment and machinery acquired
before December 2010
...
2 The Republic of Korea—a comprehensive approach to supporting an economy in recession
The 2008 global credit crunch and ensuing economic recession hit Korea hard
...
Reflecting diminished confidence in the short-term outlook, the
value of the Korean won fell sharply
...

The government set priorities for tax policy: supporting low- and middle-income taxpayers, facilitating job creation, promoting investment and sustainable growth, rationalizing the tax system and ensuring the sustainability of public finances
...
To support the continuation of family businesses, the government reduced the inheritance tax and allowed deductions of up to 10 billion won (about $10 million) when a small or mediumsize enterprise is inherited, extending this to 50 billion won (about $50 million) in 2014
...
The exemption was further extended until the end of
2014
...
To support future growth, it introduced R&D incentives
for companies and also increased the deductibility of education expenses for individuals
...
It reduced the corporate income tax
rate for taxable income below 200 million won ($197,972) from 13% to 11% in 2008 and to 10% starting in 2010
...
Korea
reduced the personal income tax rate by 1 percentage point for the middle bracket and by 2 percentage points for the top
bracket while also increasing allowable deductions
...
It also increased the statute of limitation for prosecution for certain tax crimes
...
b Korea was one of only a handful of OECD countries that actually registered a reduction in
public debt levels over the period 2009–13
...
c
a
...

b
...

c
...


2010
...

Spain introduced unlimited tax depreciation for investments made in new
fixed assets and immovable property
in 2009 and 2010, later extending this
to investments made before December
31, 2012
...
These
were mostly small taxes such as environmental taxes, vehicle taxes, road
taxes and other social taxes
...
In 2011 Italy raised VAT and local
property tax rates, though it also cut
labor and corporate income tax rates
...
5% to 1%
levied on turnover
...
6)
...
3% to 1% on June 1,
2009, and to 1
...

Iceland increased the social security

contribution rate for employers from
5
...


CONCLUSION
The financial crisis had a substantial
impact on national tax revenue, leading
in many economies to larger government deficits and higher levels of public
debt
...


PAYING TAXES

FIGURE 10
...
The Bahamas, Bahrain, Barbados, Brunei Darussalam,
Cyprus, Kosovo, Liberia, Libya, Luxembourg, Malta, Montenegro, Myanmar, Qatar, San Marino and South Sudan were
added in subsequent years
...
The figure does not show all types of changes making it more complex or costly to pay taxes recorded by
Doing Business
...


The data collected for the paying taxes
indicators show a clear trend of increasing changes to tax policies during
the crisis
...
Changes easing the
administrative burden of tax compliance countered the greater risk of tax
evasion that arises during economic
downturns
...


NOTES
This case study was written by MichelleChristine Hanf, Joanna Nasr and Nadia Novik
...


World Bank, World Development Indicators
database
...
OECD 2010b
...

4
...

6
...

8
...

Buti and Zourek 2012
...

OECD 2010a
...

Commercial profit is net profit before all
taxes borne
...
In computing profit before
tax, many of the taxes borne by a firm are
deductible
...
Commercial
profit therefore presents a clear picture of
the actual profit of a business before any
of the taxes it bears in the course of the
fiscal year
...
To compute
the commercial depreciation, a straight-line
depreciation method is applied, with the
following rates: 0% for the land, 5% for the
building, 10% for the machinery, 33% for the
computers, 20% for the office equipment,
20% for the truck and 10% for business
development expenses
...
4 times income per capita
...
This is an unweighted average across 189
economies
...
The terms profit tax and corporate income
tax are used interchangeably in this case
study
...

11
...

12
...

13
...

These include changes in statutory rates,
changes in deductibility of expenses and
depreciation rules, administrative changes
affecting time to comply with 3 major
taxes (corporate income tax, labor taxes
and mandatory contributions, and VAT or
sales tax) and introduction or elimination of
taxes
...


89

Doing Business 2015
Going Beyond Efficiency

Enforcing contracts

How judicial efficiency supports freedom of contract

ƒ In regulating freedom of contract,
authorities around the world have
had to strike a balance between
the desire to give contracting
parties the ability to enter into
mutually beneficial arrangements
and the need to provide adequate
safeguards against possible abuse
...

Other limitations stem from the
courts, which play a vital role in
shaping freedom of contract by
deciding whether or not to enforce
certain agreements
...
Similarly, all of the economies
consider contracts void or voidable
if concluded in contravention of
public policy or under duress, fraud
or coercion
...

Almost half (14) explicitly prohibit
covenants restricting the alienation
of real property
...
Without
reasonably expeditious dispute
resolution, the meaning of freedom
of contract can be greatly eroded
...
This freedom is essential
to an efficient economy: without it, and
without enforcement of contracts, there
would be little stability in financial arrangements, and uncertainty and lack
of trust would discourage people from
participating in economic life
...
1 It also looks at judicial
efficiency in contract resolution in the
same 34 economies, using data for
the enforcing contracts indicators
as a proxy for judicial efficiency
...
2 As in
previous years, the ranking on the ease
of enforcing contracts continues to
be based exclusively on the time, cost
and procedural complexity of resolving
commercial disputes before local firstinstance courts
...
Additionally,
in carrying out this exercise the team
does not intend to advocate in favor of
more or less freedom of contract but
instead aims to provide an overview of
local regulations
...
1)
...
Where freedom
of contract is very narrowly regulated,
most transactions fall within the strict
schemes dictated by the law, leaving
the contracting parties with limited
negotiating power
...

Where there are few limitations to
freedom of contract, 2 capable and
consenting adults would be able to
conclude a 10-year loan contract with
an interest rate of 50% or even contract
to sell a house worth $1 million for a
penny
...
While most would agree

ENFORCING CONTRACTS

FIGURE 11
...


All economies in the sample
fall within this category
...


that contracts contravening public
policy should be illegitimate, some
would disagree on whether the first 2
contracts should be enforced
...
3 The concept is generally
given both a negative and a positive
meaning
...
4
While there is broad agreement on
a general definition, every economy
limits freedom of contract in different
ways
...
In the late
1800s and early 1900s legislators,
influenced by classical contract theory,
relied on the notion that only the parties

to a contract can evaluate whether it
is beneficial, leading to the idea that
whether agreements are prudent and
profitable should be determined not
by the courts but by the parties themselves
...
Any legislation that disturbed parties’ equality
was seen as an arbitrary interference
with liberty of contract, which no
government could legally justify
...
6
During the mid-1900s, however,
governments and courts started to
acknowledge the tension between
the parties’ desire for certainty and
stability in private agreements and the
need to ensure fairness for weak and
vulnerable individuals; concepts such
as fraud, duress and undue influence
began to play a bigger role in court
decisions on limitations to freedom of
contract
...
The court decisions spurred
a debate over the government’s role
in imposing limitations on freedom of
contract, and a more paternalistic approach emerged
...
8 Several countries
started to regulate contractual relationships under the assumption that in
certain circumstances people are unable to identify their own preferences
...
10
U
...
labor law offers a great example
of this evolution
...
11
In these cases the court assumed a
near equality of bargaining power and
found it anomalous that the law would
favor one party over the other
...
New York, in which the court
invalidated a New York law limiting the
daily number of hours a baker could
work
...
12
During the late 1930s legislation and
case law relying on the notion that
countries should retain the right to
protect individuals from entering into
a contract against their health, safety
or welfare started to emerge
...

When distributive motives started to
play a bigger role in labor laws, so did
measures regulating minimum wage
and retirement security
...

Worldwide, there are laws intended to
prevent people from using force, secrecy, duress or fraud to compel others to
enter into contracts that they would not
agree to under different circumstances
...

These limitations have become an indispensable part of any comprehensive
definition of freedom of contract, now
intended to be both freedom of the
parties from interference by the state
and freedom from imposition by one
another
...


WHY FREEDOM OF
CONTRACT MATTERS
FOR FIRMS
Freedom of contract is a critical instrument for economic progress and
efficiency
...
15 In addition, freedom
of contract contributes to the establishment of a functional economy in
which predictability is prized
...

Others stem from the courts, which
play a vital role in shaping freedom
of contract when deciding whether to
enforce certain agreements
...
17 Courts have a dual role in this
context—both to protect individuals
from unreasonable government regulations and to clarify and apply rightful
limitations
...


WHAT METHODOLOGY WAS
USED
To investigate limitations to freedom of
contract in the 34 sampled economies,
the Doing Business team added several
new questions to this year’s questionnaire on enforcing contracts
...
1)
...
1 Possible limitations to freedom of contract explored through this
year’s research
• Statutory limits on interest rates
• Limitations on consideration and on determination of contract price in
future agreements
• Limitations on clauses restricting land transfers
• Limitations on “choice of law” clauses in commercial contracts (clauses
specifying that any dispute arising under the contract will be determined
in accordance with the law of a particular jurisdiction)
• Limitations relating to asymmetry of power and to unconscionability (a
doctrine in contract law referring to terms that are so one-sided in favor
of a party with superior bargaining power that they are contrary to good
conscience)
• Limitations on disclaimers on implied warranties (guarantees that the
item sold is merchantable and fit for the purpose intended)
• Limitations on clauses allowing termination at will (clauses usually included in employment agreements that permit an employee or employer
to terminate the employment relationship at any time for any or no reason
at all)
• Limitations on clauses limiting liability, such as for negligence (conduct
that departs from what would be expected of a reasonably prudent person
acting under similar circumstances)
• Restrictions on terms included in standard-form contracts (contracts between 2 parties in which the terms and conditions are set by one of the
parties and the other party has little or no ability to negotiate more favorable terms)
• Limitations for reasons relating to public policy, capacity, duress, coercion,
fraud and undue influence

ENFORCING CONTRACTS

been reached on most of them
...

One area explored through this research
deals with the limitations imposed
by national laws on consideration,
traditionally defined as anything of
value promised to the other party when
concluding a contract
...
In the sale of a
house, for example, the selling party’s
consideration could be the purchase
price or a promise to pay this price,
while the buyer’s consideration could
be the house
...
If
freedom of contract is not restricted,
courts should exercise no scrutiny on
consideration as long as the parties
willingly and knowingly accepted the
terms of the contract
...

The inclusion of choice-of-law clauses
in international contracts was also examined
...
Economies limiting
freedom of contract in this area usually
do not allow such clauses or allow them
only if the parties have a relationship
with the chosen jurisdiction
...

Other areas of research included in this
year’s questionnaire are somewhat
more controversial from a social, economic and philosophical perspective
...
These questions
go to the heart of whether usury laws
and laws governing an imbalance in
bargaining power should legitimately
impose limits on freedom of contract
...
Those arguing in
favor of these laws conclude that without them, free markets would produce
perverse incentives to take excessive
credit risks, which drive up the cost of
the welfare system as a whole
...
19
On the question of asymmetry of
negotiating power, those who defend
freedom of contract argue that if
contracts signed between parties with
unequal bargaining power were treated
as invalid because of this asymmetry,
those with more power would refuse
to sign contracts with people with less
power, leading to the exclusion of these
people from the market
...
In both cases, as
in all other cases covered in this study,
it is assumed that both parties have
full legal capacity and entered into the
contract freely
...
The higher the number
of limitations, the more limited the
freedom of contract
...
Any limitation, even in the form of
an exception to a general principle, is
counted; no relevance is given to the intensity of the limitation
...

In carrying out this exercise the team
does not intend to advocate in favor of
more or less freedom of contract but
instead aims to provide an overview
of local regulations
...
The
sole purpose in providing the number
of limitations is to understand how the
sampled economies regulate freedom
of contract, without giving any judgment on the quality of the regulations
or on their desirability
...
At the
opposite end of the spectrum is the
Democratic Republic of Congo, with
only 3 of the 10 limitations (figure 11
...

The results not only show that all 34
economies have struck a balance between the extremes of very limited and
very extensive freedom of contract;
they also reflect some consensus on
the limitations that should be imposed
...
Similarly, none of them allow
contracts concluded in contravention of public policy or under duress,
fraud or coercion
...
2 The Democratic Republic of Congo has the fewest limitations to freedom of contract
Number of limitations to freedom of contract
10
9
8
7
6
5
4
3
2

Tunisia

Togo

Uruguay

Taiwan, China

Brazil

Greece

Turkey

Poland

Romania

Malta

Mozambique

India

Macedonia, FYR

France

Germany

Croatia

Czech Republic

Colombia

Bulgaria

Cambodia

South Africa

United Arab Emirates

Italy

Lebanon

China

El Salvador

Bhutan

Barbados

Sri Lanka

Singapore

Philippines

Nigeria

Pakistan

1
0

Congo, Dem
...


94

Source: Doing Business database
...

But there is less agreement on other
limitations to freedom of contract
...
A clause of this type
would, for example, forbid the buyer
from selling the property for a certain
number of years after purchasing it
...
The rest
of the economies allow these contract
provisions
...
All sampled economies in the region have the following 6
limitations:
ƒ A cap is imposed by law on interest
rates
...

The determination of a contract
price cannot be left to a future
agreement, unless the contract
already establishes how the price will
be determined
...

Liability for gross negligence cannot
be excluded through mutual agreement of the parties
...


The other 6 regions show more variation
in the number and type of limitations
...

While the Democratic Republic of Congo
has the smallest number of limitations
in the overall sample, with 3, Togo has
one of the largest numbers, with 7
...

In addition, only 2 of the 5 Sub-Saharan
African economies in the sample do not

limit the terms that can be included in
a standard-form contract, while all 5
allow termination at will, choice-of-law
clauses and disclaimers on implied
warranties as long as the seller was not
acting in bad faith
...
All 3—Brazil,
Colombia and Uruguay—are in Latin
America and the Caribbean
...
Without reasonably expeditious dispute resolution,
the meaning of freedom of contract
is eroded; parties might be able to
conclude most contracts on their own
terms, but long contract resolution
times would ultimately frustrate that
ability
...
The
country imposes few limitations on
freedom of contract, and resolving

ENFORCING CONTRACTS

FIGURE 11
...
Rep
...


a standardized commercial dispute
through the courts—from the filing
of the case to the enforcement of the
contract—takes 150 days as measured
by Doing Business (figure 11
...
In Sri Lanka there are
equally few limitations to freedom of
contract, but resolving the standardized dispute through the courts takes
1,318 days—almost 4 years
...
A slow
contract resolution process frustrates
freedom of contract
...
It limits freedom of contract
only in the areas of future determination of contract price, exclusion of liability for gross negligence, and public
policy and legal capacity
...
Pakistan
provides a similar example: there are
only 4 limitations to freedom of contract, but resolving the standardized
dispute takes 976 days in Karachi
...
By promoting investment, good
judicial institutions can also contribute
to economic growth and development
...

Moreover, efficient contract enforcement is essential to allow true freedom
of contract
...
Without that, the predictability of the legal framework—which is
highly valued by firms operating in the
market—would be compromised
...
Among the 34
economies in the sample, however,
there are cases where neither is prized
...
Not only does
Greece have one of the highest numbers
of limitations (7), it also has among the
longest resolution times in the sample
...
Similarly, in Tunisia, the economy
with the highest number of limitations
in the sample (8), enforcing a contract
takes 565 days
...

1
...

3
...

5
...

7
...

9
10
...


CONCLUSION
Freedom of contract and efficient contract enforcement matter to businesses
...
21 Efficient contract
enforcement promotes investment by

12
...

14
...

16
...

18
...

20
...

22
...

Ramello and Voigt 2012
...

Berlin 1969
...

Scott 2002
...

Kronman 1983
...

Kennedy 1982, 2006; Kronman 1983
...
Children’s Hospital; Adair v
...
Kansas; Hammer v
...
Carter Coal Company;
Weber 2013
...
v
...

Kennedy 1982
...

Edwards 2009
...

Kennedy 1982
...

Pettit 1999; Posner 1995
...

Edwards 2009
...


95

Doing Business 2015
Going Beyond Efficiency

Resolving insolvency
Measuring the strength of insolvency laws

ƒ Doing Business introduces a
new component of the resolving
insolvency indicator set this
year, the strength of insolvency
framework index
...

ƒ The good practices underlying
the new indicator are based on
2 sources—the World Bank’s
Principles for Effective Insolvency
and Creditor/Debtor Regimes and
the United Nations Commission on
International Trade Law’s Legislative
Guide on Insolvency Law
...
South Asia is the region with
the lowest average score on the
index
...

ƒ Economies with better insolvency
laws as measured by Doing Business
tend to have more credit available to
the private sector
...
And fear of bankruptcy and its consequences can deter
potential entrepreneurs from starting
a new business venture
...
1 Yet evidence suggests that the
exit of firms from the market is a necessary condition for economic growth, and
efficient exit frameworks may in fact
encourage greater entrepreneurial activity and new firm creation
...
3
While reducing the stigma associated with bankruptcy may be difficult,
policy makers can minimize the negative effects of business failures and take
advantage of their positive effects by
adopting efficient and well-functioning
bankruptcy laws
...
4 And studies on
the effects of bankruptcy reforms show
that speeding up the resolution of debt
disputes may increase the probability
of timely repayment; that increasing
the protection of creditors and their

participation in bankruptcy proceedings
may lead to a lower cost of debt and a
higher aggregate level of credit; and that
introducing reorganization proceedings
may reduce the rate of business failure
...
6
Bankruptcy laws play such an important role because they promote
predictability for both creditors and
entrepreneurs—by establishing the
rules for the worst-case scenario
...
7 And they allow creditors to
calculate the maximum risk associated
with an unpaid loan
...
8
So, having transparent, enforceable
rules on the types of decisions that
creditors can influence during bankruptcy proceedings, on the priority of
creditors and on other important issues
is critical for lenders—and becomes a
key factor for them in fixing interest
rates and maturity terms for loans
...
Until this year the
focus was on capturing the time, cost
and outcome of the most likely incourt proceeding involving a domestic
debtor in each economy
...

This year Doing Business has introduced
an important change in methodology
for the resolving insolvency indicators
...
A new indicator, the strength of
insolvency framework index, measures
good practices in accordance with
principles developed by the World Bank
and the United Nations Commission on
International Trade Law (UNCITRAL)—
the World Bank’s Principles for Effective
Insolvency and Creditor/Debtor Regimes
(referred to here as the “World Bank
principles”) and UNCITRAL’s Legislative
Guide on Insolvency Law (“UNCITRAL
guide”)
...
The new
strength of insolvency framework index measures the quality of insolvency
laws, while the previous methodology
(recovery rate) captures the insolvency
practice
...
One of the findings this year is
that economies with a higher quality
of insolvency laws as measured by the
strength of insolvency framework
index experience on average higher
recovery rates
...

Both the World Bank principles and the
UNCITRAL guide avoid using the term
bankruptcy and instead use the broader
term insolvency
...
The good practices tested under
the new indicator are closely linked
with the objectives identified in both
guidebooks and follow the provisions
elaborated in them (table 12
...

The strength of insolvency framework index measures whether each
economy has adopted internationally
recognized good practices in 4 areas:
commencement of insolvency proceedings, management of the debtor’s
assets, reorganization proceedings and
creditor participation in insolvency
proceedings
...

ƒ The commencement of proceedings
index measures what type of proceedings (liquidation, reorganization
or both) debtors and creditors can
initiate and what standard is used
to declare a debtor insolvent
...

ƒ The reorganization proceedings index
measures whether and how creditors vote on a reorganization plan

and what protections are available
to dissenting creditors
...

The information used to compile the
strength of insolvency framework index was provided by private and public
sector insolvency practitioners in each
economy with reference to the applicable laws and regulations
...
Based on this
analysis, the team assigned a score for
each of the 4 component indices
...
(For a more detailed description
of the scoring methodology, see the
data notes
...
1)
...

Europe and Central Asia has the second
highest average score on the strength
of insolvency framework index, though
there is a substantial difference between the average score of Eastern and
Central European economies and that

97

98

DOING BUSINESS 2015

TABLE 12
...


Provide for the efficient
liquidation of both nonviable
businesses and businesses
whose liquidation is likely to
produce a greater return to
creditors and reorganization
of viable businesses

Existing indicators test whether viable
businesses can be reorganized and whether
businesses in liquidation can be sold as a going
concern
...


Provide for equitable
treatment of similarly
situated creditors, including
similarly situated foreign
and domestic creditors

Ensuring equitable
treatment of similarly
situated creditors

New indicator tests how similarly situated
creditors vote on a reorganization plan and
what treatment they receive under the plan
...


Prevent the improper use of
the insolvency system

New indicator tests the basis for commencing
insolvency proceedings
...
a

Provide a transparent
procedure that contains, and
consistently applies, clear
risk allocation rules and
incentives for gathering and
dispensing information

Ensuring a transparent
and predictable
insolvency law that
contains incentives for
gathering and dispensing
information

New indicator tests the level of creditor
participation during insolvency proceedings,
including their ability to request information
and to challenge decisions directly affecting
their rights
...
This principle is also tested
by the strength of legal rights index
...


a
...

b
...

Source: Analysis based on World Bank (2011b) and UNCITRAL (2004)
...
Economies
that have recently reformed their
insolvency laws—such as Bulgaria,

Romania, the former Yugoslav Republic
of Macedonia and Montenegro—have
the region’s highest scores, having

implemented many of the good practices measured by the index as part of
their reform efforts
...
Economies
with some of the highest scores in
Sub-Saharan Africa are those that
adopted the OHADA (Organization
for the Harmonization of Business
Law in Africa) Uniform Act Organizing
Collective Proceedings for Wiping Off
Debts
...
Economies
that have recently amended their
insolvency laws, such as China,
Cambodia and the Philippines, receive
high scores, while other economies
have no formal insolvency framework,
such as Palau and the Marshall Islands
...
Very
few economies in the region have
insolvency laws that facilitate the
continuation of the debtor’s business during insolvency proceedings
...

Only 2 economies in this region have a
reorganization framework, and many
lack a designated insolvency law; instead, provisions related to insolvency
are found in company laws and commercial codes
...
But most
of the smaller economies in the region,
particularly island economies, still use
winding-up provisions in companies
acts that have not been amended for
several decades
...
1 OECD high-income economies have well-developed insolvency
frameworks and the highest recovery rates
Average strength of
insolvency framework index (0–16)
16

Average recovery rate
(cents on the dollar)
100

12

75

8

50

4

25

0

OECD
Europe &
high income Central Asia

East Asia
& Pacific

Sub-Saharan Latin America Middle East &
Africa
& Caribbean North Africa

Average strength of
insolvency framework index

South
Asia

0

Average recovery rate

Source: Doing Business database
...


WHAT ARE RELATIVE
STRENGTHS AND
WEAKNESSES?
The strength of insolvency framework
index can be a meaningful instrument
for governments to use in reforming
their insolvency system, because it
enhances the ability to identify areas
where each economy can improve
...
2)
...

A third of the economies covered by
Doing Business have no formal judicial
reorganization framework
...

More than 40% of economies lack specific provisions in their insolvency laws
that would allow debtors to maintain
contracts supplying essential goods and
services during insolvency proceedings
...
For example, a manufacturing company must have raw materials
to continue operating
...
If suppliers can cancel their
contracts as soon as a debtor becomes
insolvent, the debtor’s business operations must stop, greatly reducing the
value of its assets
...

Among the first and most important
decisions made after insolvency
proceedings begin is the appointment

of an insolvency representative, who
often has the authority to act on behalf
of the debtor and make key decisions
about the management of its assets
...
Lack of
meaningful participation can affect
creditors’ confidence in the system,
making them less cooperative and
more litigious and thus prolonging the
proceedings
...
For
example, Germany is one of 51 economies that receive full points on the
commencement of proceedings index
...
But a debtor may submit
a reorganization plan together with
its insolvency petition or at a later
stage, and creditors may request the
insolvency administrator to prepare
a reorganization plan based on the
financial evaluation of the company
...
The German insolvency framework also allows the commencement of insolvency proceedings
when illiquidity is imminent, which may
encourage debtors to file for insolvency
before their financial circumstances
become too dire
...
Reorganization
and liquidation proceedings in Japan
are covered by 2 separate laws
...
For example,
both prohibit the termination of

99

100

DOING BUSINESS 2015

FIGURE 12
...
To ensure equitable treatment
of dissenting creditors, the Cambodian
law requires that they receive at least
as much under the reorganization plan
as they would receive in liquidation
...
As this example illustrates,
a modern law is not enough to achieve
an efficient insolvency practice; effective implementation and a developed
judiciary framework are also essential
...


contracts on the sole ground that
the debtor has become insolvent and
allow the debtor (or an administrator
or trustee in bankruptcy) to decide
which contracts should be continued
during insolvency and which should be
terminated
...
Both
laws also allow the avoidance of preferential and undervalued transactions
concluded before the commencement
of proceedings
...
New loans are treated
as common benefit claims and receive
preference over the claims of general
unsecured creditors but not over those
of secured creditors, whose preference
remains unchanged
...

Cambodia is one of 17 economies that
receive full points on the reorganization
proceedings index
...
Under the
new law, when a reorganization plan
is proposed, all creditors whose rights
are impaired or modified by the plan
vote on whether to approve or reject it
...
But creditors whose rights
are not affected do not have the right
to vote, as this would grant them unnecessary influence
...
All creditors
within a class must be treated equally,
and at least one class must approve

Switzerland is one of only 3 economies that receive full points on the
creditor participation index
...
For example,
creditors can reject the administrator
appointed by the court and must
approve the handling of the debtor’s
assets during insolvency proceedings
...
And they have the right
to object to decisions directly affecting
their rights—for example, they can
dispute decisions accepting the claims
of other creditors
...
Economies that score
well on the index have higher levels
of credit provided to the private sector by domestic financial institutions
(figure 12
...


These results suggest that the quality
of bankruptcy laws is important not
for its own sake but as an indication of

RESOLVING INSOLVENCY

FIGURE 12
...

1
...

3
...


12

8

5
...

7
...

9
...

11
...
The correlation between the strength of insolvency framework index
and domestic credit to private sector as a percentage of GDP is 0
...
The relationship is significant at the 1% level
after controlling for income per capita
...


and perhaps a step toward a betterdeveloped financial system
...


CONCLUSION
Analysis of the data collected for the
strength of insolvency framework
index shows that economies with
recent changes to their insolvency
frameworks have better-quality laws
...
Differences
in regulatory quality are especially
apparent in regions with emerging

economies, such as Latin America and
the Caribbean and East Asia and the
Pacific
...
The
results suggest that there is opportunity in many economies to improve
reorganization proceedings, facilitate
the continuation of businesses during
insolvency and allow greater participation by creditors in insolvency
proceedings
...

Cirmizi, Klapper and Uttamchandani 2010
...

See Araujo, Ferreira and Funchal (2012)
for a summary of different studies on the
relationship between creditors’ rights and
economic development
...

Cirmizi, Klapper and Uttamchandani 2010
...

Haselmann, Pistor and Vig 2010
...

World Bank 2011b; UNCITRAL 2004
...
7 and
the related discussion in the overview
...

ƒ The World Bank Group convened an
international research conference,
“Doing Business: Past, Present and
Future of Business Regulation,” in
the winter of 2014
...

ƒ Striking a balance in the amount of
regulation matters
...
But too much regulation
increases the cost of doing business,
dissuading firms from entering
markets at all and thus hurting
economic development prospects
...
Firms confronted
with demands for bribes wait
about 1
...


D

ata produced by Doing Business
have inspired and enabled
abundant empirical research on
critical questions puzzling economists,
policy makers and international development professionals
...
Since 2003,
when the first Doing Business report
was published, 2,024 research articles
have been published in peer-reviewed
academic journals and 5,098 working
papers have been posted online
...
2 The
conference brought together academics, World Bank Group staff and development professionals from around
the world to showcase and discuss the
impact of regulatory reform and to offer guidance for the Doing Business project in the years to come
...

This chapter presents the main findings
and methodology of selected papers

from the conference
...
1 at the end of
the chapter for a summary)
...
Klapper, Love and Randall (2014)
investigate the relationship between
entrepreneurship and economic growth
and the effect of the 2008–09 global
financial crisis on new firm registration
...

They find strongly procyclical results:
country-specific GDP growth is associated with higher new firm registrations,
even after the global macroeconomic
shocks are controlled for
...

One important policy implication of
their findings is that fostering an efficient regulatory environment for the financial and private sector can contribute to economic growth by aiding the
efficient exit of insolvent firms during
economic slowdowns and encouraging
a speedier recovery in the formation of
new firms during economic expansions
...
But less is known about
the effects on economic performance
when the regulatory burden or entry
regulation varies within countries—and
as subnational Doing Business reports
have shown, there is evidence of great
variation in the regulatory burden
within some countries
...
Italy is a particularly interesting case because it has
great heterogeneity in entrepreneurship and economic performance, with
marked differences between the more
developed regions of the Center and
North and the less developed ones of
the South
...
In the period examined there
was a negative correlation between
the time and cost of procedures and
the entry rate of small limited liability
firms (figure 13
...
After controlling for
the effect of additional variables,

FIGURE 13
...

Source: Bripi 2013
...
The estimates
show robust evidence of the negative
effect of time delays on the entry rate
of small limited liability firms
...
For example, the effect of cost
is significant only in less developed
provinces, in those with a higher level
of corruption and in the service sectors
(not in manufacturing)
...
In particular, they provide
evidence that the administrative
burden in the years just before the
reform was a significant obstacle

to entrepreneurship (and ultimately
economic performance) in the heavily
regulated provinces of the South relative to the more lightly regulated ones
of the Center and North of Italy
...
They look at a few dimensions
of the business environment (such as
those measured by the Doing Business
indicators on starting a business, registering property, paying taxes, enforcing
contracts and trading across borders)
and types of regulatory reform (those
affecting measures of time, cost and
procedures)—and examine the links
between these aspects and 2 measures
of entrepreneurship, new business creation and self-employment
...

In particular, they find evidence that

103

104

DOING BUSINESS 2015

specific regulatory dimensions (such
as contract enforcement) as well as
particular types of regulatory reform
within each dimension (such as those
affecting cost measures) are associated with the rate of self-employment
and new business creation
...
They also find that
in some cases their 2 measures of entrepreneurship (new business creation
and self-employment) are affected differently by the same regulatory dimension or same type of regulatory reform
...
They find
that greater regulatory efficiency as
measured by Doing Business indicators
has a positive association with foreign
direct investment inflows from OECD
countries
...
This effect seems strong,
so it may also include the effects of
other barriers to trade, such as the
cost or time to export, both of which
are highly correlated with the number
of documents required to export (with a
correlation coefficient of around 0
...

The authors also find that a reduction
in the cost of starting a business is
positively associated with an increase
in foreign direct investment inflows
...
The indicators measuring cost appear to be more
important than those measuring time
and number of procedures
...

Hoffman, Munemo and Watson (2014)
look at how different aspects of the
business climate affect the location
decisions of U
...
franchise companies
...
Of particular interest are the
findings on business entry regulation
...
But too
much regulation increases the cost of
doing business, dissuading firms from
entering markets at all and thus hurting economic development prospects
...
The
findings suggest a diminishing return
from regulation after a certain point
...
Using
firm-level panel data from emerging
economies, Yang (2014) examines the
relationship between the business
climate and profitability for innovative

and noninnovative firms
...
But in
business climates where regulatory or
governance-related elements (such as
corruption or the time and cost to start
a business) are poor, innovative firms
have lower profits
...
But
they may also suffer more from red
tape
...


HOW DEBT ENFORCEMENT
CAN BOOST LENDING
Legal protections of creditors’ rights
are critical to support bank lending to
the private sector
...
But in
India bank lending to the private sector
has more than doubled in the past 2
decades despite few improvements in
judicial efficiency and substantive law
...
These
quasi-judicial bodies bypass the overburdened civil courts in adjudicating financial disputes involving banks
...

Rathinam finds that the introduction
of debt recovery tribunals changed the
perception of lenders in the short run:
banks with access to tribunals loaned
more than those without access
...
This
finding confirms the argument that
good substantive law, if effectively enforced, enhances investors’ and creditors’ confidence in the system, which
results in a larger volume of credit and
ultimately greater economic growth
...


CAN REGULATION HELP
REDUCE UNEMPLOYMENT?
Freund and Rijkers (forthcoming) investigate the factors that lead to swift,
substantial and sustained reductions
in unemployment
...
25 percentage points of the
initial level that persist for a minimum
of 3 years
...


important for reducing unemployment
...

They also underscore the importance
of effective contract enforcement
and secure property rights in enabling
growth in employment
...

The authors start by documenting
striking differences between the time
it takes to complete regulatory procedures in practice and the time it takes
when complying with the law
...
2, which plots
the 10th percentile, median and 90th
percentile de facto log times to get a
construction permit in a given country
and year as reported by entrepreneurs
in the World Bank Enterprise Surveys
against the time it should take to

complete all the formalities to build
a warehouse according to the Doing
Business indicators
...

The authors examine the relationship
between requests for bribes and the
time it takes to complete various
regulatory requirements—getting a
construction permit, obtaining an
operating license, obtaining an electricity connection and clearing customs
...

The data are inconsistent with all 3
predictions
...
5 times as long to get a
construction permit, operating license

FIGURE 13
...
Such episodes
are much more prevalent in countries
with higher levels of unemployment
and, given unemployment, are more
likely in those with better regulation
...
0

4
...
0

5
...
0

Log of time to deal with construction permits as measured by Doing Business
10th percentile

50th percentile

90th percentile

Note: The sample comprises 106 countries
...

Source: Freund, Hallward-Driemeier and Rijkers 2014
...
5

105

106

DOING BUSINESS 2015

or electricity connection as firms that
did not have to pay bribes—and they
wait 1
...
4 times as long
when importing
...


NOTES
1
...


CONCLUSION
The research papers reviewed in this
chapter show that business-friendly
regulation is integral to economic
growth and development
...

But while these papers answer many
questions, they also pose many new
ones
...
And
the pioneering study by Audretsch,
Belitski and Desai (2014) invites followup research on the impact of multiple
dimensions of the national business
environment on firms in different cities
...


3
...
google
...

The conference took place at Georgetown
University’s McDonough School of Business
in Washington, DC
...
S
...
More information is available
at http://
www
...
org/special-features
/conference
...


HIGHLIGHTS FROM THE DOING BUSINESS RESEARCH CONFERENCE

TABLE 13A
...
The authors then investigate
heterogeneity in the relationship between the business
cycle and new firm registration
...


The analysis focuses on cross-industry and crossBripi (2013)
Bureaucratic time delays and, to a lesser extent, province interaction effects to investigate the impact
of regulation on firm entry
...

Audretsch, Belitski and Desai (2014)
Specific national regulatory dimensions (such as
contract enforcement) as well as different types
of reform within a dimension (such as those
affecting cost) are associated with the rate of
new business start-ups and self-employment in
European cities
...


Eurostat Urban Audit database, regional
and city statistics; Doing Business
database

Jovanovic and Jovanovic (2014)
Greater regulatory efficiency as measured
by Doing Business indicators has a positive
association with foreign direct investment flows
from OECD countries to Eastern European and
Central Asian countries
...


World Bank, World Development
Indicators database; Organisation for
Economic Co-operation and Development
data; International Monetary Fund
(IMF), World Economic Outlook and
International Financial Statistics
databases; International Labour
Organization data; Doing Business
database

Hoffman, Munemo and Watson (2014)
Having some business entry regulation helps
define the playing field for firms and reduces the
cost of information search for those entering
new markets
...


The analysis tests several hypotheses using a model
with franchise expansion (the number of units
planned for a country in the future divided by its
urban population) as the dependent variable and
several independent variables, including the Doing
Business distance to frontier measure, entry regulation
(measured by the cost of business start-up procedures
as a percentage of GNI per capita) and the national
corporate tax rate (measured as a percentage of
profits)
...


Press announcements by U
...
franchise
companies on expansion plans or moves
made into specific international markets
during 2005–11 (to develop the sample);
Doing Business database; World Bank,
World Development Indicators database;
Worldwide Governance Indicators

Yang (2014)
The profits of innovative firms are lower
in business climates where regulatory or
governance-related factors (such as corruption
or the time and cost to start a business) are
poor
...

A first-difference regression is estimated
...


World Bank Enterprise Surveys; Doing
Business database; World Bank data
catalog

Rathinam (2014)
In India the introduction of debt recovery
tribunals—a procedural law innovation that
bypasses the overburdened civil courts in
adjudicating financial disputes involving
banks—explains increased bank lending
...


Centre for Monitoring Indian Economy,
PROWESS database; Reserve Bank of
India, annual accounts data on scheduled
commercial banks

Debt
enforcement

Innovation

Investment

Investment

Entrepreneurship

Methodology overview

Entrepreneurship

Main findings

Entrepreneurship

Theme

Bank of Italy data set measuring the
time and costs of regulation across
Italian regions

107

DOING BUSINESS 2015

TABLE 13A
...


The authors use an event-studies approach to examine
how countries achieved episodes of drastic reductions
in the unemployment rate over the period 1980–2008
...
After performing several robustness checks,
they use Bayesian model averaging to investigate
which aspects of regulation matter most
...
5 times as long to get a construction
permit, operating license or electricity
connection as firms that did not have to pay
bribes—and they wait 1
...
4 times as long
when importing
...
A dummy variable indicating whether
a bribe was solicited or expected is added
...


World Bank Enterprise Surveys; Doing
Business database

Doing Business 2015
Going Beyond Efficiency

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Markets: Principles and Guidance for the
Development of a Country’s Real Estate
Sector
...

UN-Habitat (United Nations Human
Settlements Programme)
...

Managing Urban Land Information:
Learning from Emergent Practices
...


...
Tools to Support
Transparency in Land Administration
...

U
...
Securities and Exchange Commission
...
“Work Plan for the Consideration
of Incorporating International Financial
Reporting Standards into the Financial
Reporting System for U
...
Issuers
...
S
...
http://www
...
gov/spotlight
/globalaccountingstandards
/ifrs-work-plan-final-report
...

Weber, David P
...
“Restricting the
Freedom of Contract: A Fundamental
Prohibition
...

Wehrmann, Babette
...
Land Conflicts:
A Practical Guide to Dealing with
Land Disputes
...

Wille, John R
...
Belayachi,
Numa de Magalhaes and Frédéric
Meunier
...
“Leveraging Technology
to Support Business Registration
Reform: Insights from Recent Country
Experience
...

World Bank
...
World Development Report
1989: Financial Systems and Development
...


...
Doing Business in 2006:
Creating Jobs
...



...
General Principles for Credit
Reporting
...


...
Principles for Effective
Insolvency and Creditor/Debtor Regimes
...
Washington, DC: World Bank
...
worldbank
...
pdf
...
2012
...
Washington, DC: World
Bank
...
2013a
...
Washington,
DC: World Bank
...
2013b
...
Washington,
DC: World Bank
...
2014a
...
Policy Research Report
...


...
Sweden’s Business Climate:
Opportunities for Entrepreneurs through
Improved Regulations
...


...
World Development
Indicators 2014
...


...
World Development
Report 2015: Mind and Society: How a
Better Understanding of Human Behavior
Can Improve Development Policy
...

World Bank and IMF (International
Monetary Fund)
...
Global Monitoring
Report 2014/2015: Ending Poverty and
Sharing Prosperity
...

World Bank Group, Investment Climate
Advisory Services
...
How Many
Stops in a One-Stop Shop? A Review
of Recent Developments in Business
Registration
...


...
“Sustaining Investment
Climate, and Making Rwanda a
Favorite Business Destination
...

World Bank Group, Investment Climate
Department
...
Good Practices for
Construction Regulation and Enforcement
Reform: Guidelines for Reformers
...

Yang, Judy S
...
“The Business Climate,
Innovation, and Firm Profitability
...


113

Doing Business 2015
Going Beyond Efficiency

Data notes

T

he indicators presented and
analyzed in Doing Business measure business regulation and the
protection of property rights—and their
effect on businesses, especially small
and medium-size domestic firms
...
Second, they gauge the time
and cost to achieve a regulatory goal
or comply with regulation, such as the
time and cost to enforce a contract,
go through bankruptcy or trade across
borders
...
Fourth, a set
of indicators documents the tax burden
on businesses
...
The 11 sets of indicators
measured in Doing Business were added
over time, and the sample of economies
and cities expanded (table 14
...

The data for all sets of indicators in
Doing Business 2015 are for June 2014
...
1 Topics and economies covered by each Doing Business report
Topic

DB
DB
DB
DB
DB
DB
DB
DB
DB
DB
DB
DB
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Getting electricity
Dealing with
construction
permits
Trading across
borders
Paying taxes
Protecting minority
investors
Registering property
Getting credit
Resolving insolvency
Enforcing contracts
Labor market
regulation
Starting a business
Number of
economies

133

145

155

175

178

181

183

183

183

185

189

189

Note: Data for the economies added to the sample each year are back-calculated to the previous year
...

In Doing Business 2015, while the number of economies remains the same as in Doing Business 2014, 11 cities have been
added
...
To start, the Doing
Business team, with academic advisers,
designs a questionnaire
...
Questionnaires are administered
to more than 10,700 local experts,
including lawyers, business consultants,
accountants, freight forwarders, government officials and other professionals routinely administering or advising
on legal and regulatory requirements
(table 14
...
These experts have several rounds of interaction with the Doing
Business team, involving conference
calls, written correspondence and visits
by the team
...
The data from
questionnaires are subjected to numerous rounds of verification, leading to
revisions or expansions of the information collected
...
It is transparent,
using factual information about what

Doing Business 2015 reports 2013 income per capita as published in the World
Bank’s World Development Indicators 2014
...
S
...
For cost indicators expressed as a percentage
of income per capita, 2013 gross national income (GNI) in U
...
dollars is used
as the denominator
...
In these cases
GDP or GNP per capita data and growth rates from other sources, such as
the International Monetary Fund’s World Economic Outlook database and the
Economist Intelligence Unit, were used
...
worldbank
...

While the World Bank does not assign regional classifications to high-income
economies, regional averages presented in figures and tables in the Doing
Business report include economies from all income groups (low, lower middle,
upper middle and high income)
...


Population
Doing Business 2015 reports midyear 2013 population statistics as published
in World Development Indicators 2014
...
Having
representative samples of respondents
is not an issue; Doing Business is not

TABLE 14
...
The methodology is inexpensive and easily replicable, so data
can be collected in a large sample of
economies
...
Finally, the data not
only highlight the extent of specific
regulatory obstacles to business but
also identify their source and point to
what might be reformed
...
First, for
most economies the collected data
refer to businesses in the largest business city (which in some economies

115

116

DOING BUSINESS 2015

differs from the capital) and may
not be representative of regulation
in other parts of the economy
...
)2 To address this limitation, subnational Doing
Business indicators were created (box
14
...
Second, the data often focus on
a specific business form—generally a
limited liability company (or its legal
equivalent) of a specified size—and
may not be representative of the regulation on other businesses, for example,
sole proprietorships
...

Fourth, the measures of time involve
an element of judgment by the expert
respondents
...

Finally, the methodology assumes
that a business has full information on
what is required and does not waste
time when completing procedures
...
Alternatively, the business
may choose to disregard some burdensome procedures
...


CHANGES IN WHAT IS
MEASURED
As part of a 2-year update in methodology, Doing Business 2015 incorporates
7 important changes
...
Second, for the 11 economies
with a population of more than 100 million, data for a second city have been
added to the data set and the ranking
calculation
...
The number of points has been
increased in both indices, from 10 to
12 for the strength of legal rights index
and from 6 to 8 for the depth of credit
information index
...
1 Subnational Doing Business indicators
Subnational Doing Business studies point to differences in business regulation
and its implementation—as well as in the pace of regulatory reform—across
cities in the same economy or region
...

This year subnational studies were completed in the Arab Republic of Egypt,
Mexico and Nigeria
...
And for the first time subnational studies are
incorporating a gender perspective, assessing practices at public registries in
Nigeria and analyzing legal indicators from the World Bank Group’s Women,
Business and the Law report on Central America
...

Fourth, the name of the protecting investors indicator set has been changed
to protecting minority investors to
better reflect its scope—and the scope
of the indicator set has been expanded
to include shareholders’ rights in
corporate governance beyond relatedparty transactions
...
Sixth, the calculation of
the distance to frontier score for paying taxes has been changed
...

Finally, the name of the employing workers indicator set has been
changed to labor market regulation,
and the scope of this indicator set has
also been changed
...
The labor
market regulation indicators continue
to be excluded from the aggregate
distance to frontier score and ranking
on the ease of doing business
...
For paying
taxes, the financial statement variables
have been updated to be proportional
to 2012 income per capita; previously
they were proportional to 2005 income
per capita
...
For dealing with construction
permits, the cost of construction is
now set at 50 times income per capita
(before, the cost was assessed by the

DATA NOTES

Doing Business respondents)
...


held videoconferences with government representatives in 27 economies
and in-person meetings with government representatives in 13 economies
...
doingbusiness
...
All the sample
questionnaires and the details underlying the indicators are also published on
the website
...
doingbusiness
...

Doing Business publishes 18,400 indicators (92 indicators per economy) each
year
...

Historical data for each indicator and
economy are available on the website,
beginning with the first year the indicator or economy was included in the
report
...
This year, however,
the getting credit, paying taxes and
labor market regulation indicators will
be back-calculated for only one year
because of the significant changes in
methodology for these indicators
...
The correction rate between
Doing Business 2014 and Doing Business
2015 is 5
...
3
Governments submit queries on the
data and provide new information
to Doing Business
...
In addition, the team

Doing Business records all procedures
officially required, or commonly done
in practice, for an entrepreneur to start
up and formally operate an industrial
or commercial business, as well as the
time and cost to complete these procedures and the paid-in minimum capital
requirement (figure 14
...
These procedures include obtaining all necessary
licenses and permits and completing
any required notifications, verifications
or inscriptions for the company and
employees with relevant authorities
...
These
scores are the simple average of the
distance to frontier scores for each of
the component indicators (figure 14
...

The distance to frontier measure illustrates the distance of an economy to
the “frontier,” which is derived from the
most efficient practice or highest score
achieved on each indicator
...

Subsequently, local incorporation lawyers, notaries and government officials
complete and verify the data
...
It is
assumed that any required information
is readily available and that the entrepreneur will pay no bribes
...

To make the data comparable across
economies, several assumptions about
the business and the procedures are
used
...
If there is more
than one type of limited liability
company in the economy, the limited liability form most common
among domestic firms is chosen
...


FIGURE 14
...
2 Starting a business:
getting a local limited liability company
up and running
Rankings are based on distance to
frontier scores for 4 indicators
Preregistration,
registration and
postregistration
(in calendar days)

As % of income
per capita, no
bribes included

25% 25%
Time Cost
25% 25%
Procedures Paid-in
minimum
capital
Procedures are
completed when
final document
is received

Funds deposited in a
bank or with a notary
before registration, as %
of income per capita

ƒƒ Operates in the economy’s largest

business city
...
1 at the end of the data notes)
...

ƒƒ Has start-up capital of 10 times
income per capita, paid in cash
...
The business
does not perform foreign trade activities and does not handle products
subject to a special tax regime, for
example, liquor or tobacco
...

ƒƒ Leases the commercial plant or offices and is not a proprietor of real
estate
...

ƒƒ Has at least 10 and up to 50
employees 1 month after the commencement of operations, all of
them domestic nationals
...

ƒƒ Has a company deed 10 pages long
...

Interactions between company founders or company officers and employees are not counted as procedures
...
If founders have to visit the
same office several times for different
sequential procedures, each is counted
separately
...
If the services of professionals are
required, procedures conducted by such
professionals on behalf of the company
are counted separately
...
If 2
procedures can be completed through
the same website but require separate
filings, they are counted as 2 separate
procedures
...
3)
...
For example,
if a company seal or stamp is required
on official documents, such as tax declarations, obtaining the seal or stamp is
counted
...

Shortcuts are counted only if they fulfill 4
criteria: they are legal, they are available
to the general public, they are used by
the majority of companies, and avoiding
them causes substantial delays
...
Industry-specific

TABLE 14
...
For 11 economies the data are also collected for the
second largest business city
...
For example,
procedures to comply with environmental regulations are included only when
they apply to all businesses conducting
general commercial or industrial activities
...


Time
Time is recorded in calendar days
...
It is assumed that the minimum
time required for each procedure is 1
day, except for procedures that can be
fully completed online, for which the
time required is recorded as half a day
...
A procedure is considered completed once the
company has received the final incorporation document, such as the company
registration certificate or tax number
...
It is assumed
that the entrepreneur does not waste
time and commits to completing each
remaining procedure without delay
...
It is
assumed that the entrepreneur is aware
of all entry requirements and their sequence from the beginning but has had
no prior contact with any of the officials
...
The amount
is typically specified in the commercial
code or the company law
...
In Turkey
in June 2014, for example, the minimum
capital requirement was 10,000 Turkish
liras, of which one-fourth needed to be
paid before registration
...
14%
of income per capita
...
doingbusiness
...
This methodology was
developed by Djankov and others (2002)
and is adopted here with minor changes
...
It includes all official fees and fees for legal
or professional services if such services
are required by law
...
Although value added
tax registration can be counted as a
separate procedure, value added tax is
not part of the incorporation cost
...
In the absence of fee schedules, a
government officer’s estimate is taken
as an official source
...
If several incorporation lawyers
provide different estimates, the median
reported value is applied
...


Paid-in minimum capital
The paid-in minimum capital requirement reflects the amount that the entrepreneur needs to deposit in a bank or

DEALING WITH
CONSTRUCTION PERMITS
Doing Business records all procedures
required for a business in the construction industry to build a warehouse (figure 14
...
These procedures
include obtaining and submitting all
relevant project-specific documents
(for example, building plans, site maps
and certificates of urbanism) to the

authorities; hiring external third-party
supervisors, engineers or inspectors
(if necessary); obtaining all necessary clearances, licenses, permits and
certificates; submitting all required
notifications; and requesting and
receiving all necessary inspections (unless completed by a private, third-party
inspector)
...
Procedures
necessary to register the warehouse
so that it can be used as collateral or
transferred to another entity are also
counted
...
The ranking of
economies on the ease of dealing with
construction permits is determined by
sorting their distance to frontier scores
for dealing with construction permits
...
4)
...
To make the data comparable

FIGURE 14
...
4 Dealing with construction
permits: building a warehouse
Rankings are based on distance to
frontier scores for 3 indicators
As % of
warehouse
value, no
bribes included

Days to comply
with formalities
to build a
warehouse

33
...
3%
Time Cost
33
...


Assumptions about the
construction company
The business (BuildCo):
ƒƒ Is a limited liability company
...
For 11 economies the
data are also collected for the second largest business city (see table
14A
...

ƒƒ Is 100% domestically and privately
owned
...

ƒƒ Is fully licensed and insured to carry
out construction projects, such as
building warehouses
...

ƒƒ Has at least 1 employee who is a
licensed architect or engineer and
registered with the local association
of architects or engineers
...

ƒƒ Owns the land on which the warehouse will be built
...
The warehouse will
not be used for any goods requiring
special conditions, such as food,
chemicals or pharmaceuticals
...
6 square meters
(14,000 square feet)
...

ƒƒ Will have road access and be located in the periurban area of the
economy’s largest business city
(that is, on the fringes of the city
but still within its official limits)
...

ƒƒ Will not be located in a special economic or industrial zone
...

ƒƒ Is valued at 50 times income per
capita
...

ƒƒ Will have complete architectural
and technical plans prepared by a
licensed architect
...

ƒƒ Will include all technical equipment
required to be fully operational
...


Assumptions about the utility
connections
The water and sewerage connections:
ƒƒ Will be 150 meters (492 feet) from
the existing water source and sewer
tap
...
If there is no
sewerage infrastructure, a septic
tank in the smallest size available
will be installed or built
...
If a wet fire protection system is required by law, it is assumed
that the water demand specified
below also covers the water needed
for fire protection
...

ƒƒ Will have a peak water use of 1,325
liters (350 gallons) a day and a peak
wastewater flow of 1,136 liters (300
gallons) a day
...

ƒƒ Will be 1 inch in diameter for the water connection and 4 inches in diameter for the sewerage connection
...
Interactions
between company employees, such
as development of the warehouse
plans and inspections conducted by
employees, are not counted as procedures
...
4 What do the dealing
with construction permits indicators
measure?
Procedures to legally build a warehouse
(number)
Submitting all relevant documents and obtaining
all necessary clearances, licenses, permits and
certificates
Submitting all required notifications and
receiving all necessary inspections
Obtaining utility connections for water and
sewerage
Registering the warehouse after its completion
(if required for use as collateral or for transfer of
the warehouse)
Time required to complete each procedure
(calendar days)
Does not include time spent gathering
information
Each procedure starts on a separate day—
though procedures that can be fully completed
online are an exception to this rule
Procedure considered completed once final
document is received
No prior contact with officials
Cost required to complete each procedure
(% of warehouse value)
Official costs only, no bribes

for the architect to prepare the plans),
or to have such documents approved
or stamped by external parties, are
counted as procedures
...
All procedures that are legally
required, or that are done in practice
by the majority of companies, to build
a warehouse are counted, even if they
may be avoided in exceptional cases
(table 14
...


the same day (that is, simultaneous
procedures start on consecutive days),
again with the exception of procedures
that can be fully completed online
...
It is assumed that BuildCo does
not waste time and commits to completing each remaining procedure without delay
...
It is assumed that BuildCo
is aware of all building requirements and
their sequence from the beginning
...
Only official
costs are recorded
...
Nonrecurring taxes required
for the completion of the warehouse
project are also recorded
...
Nor are

deposits that must be paid up front
and are later refunded
...
If
several local partners provide different
estimates, the median reported value is
used
...
doingbusiness
...


GETTING ELECTRICITY
Doing Business records all procedures
required for a business to obtain a permanent electricity connection and supply for a standardized warehouse (figure
14
...
These procedures include applications and contracts with electricity
utilities, all necessary inspections and
clearances from the utility and other
agencies, and the external and final
connection works
...

The ranking of economies on the ease
of getting electricity is determined by
sorting their distance to frontier scores
for getting electricity
...
5 Doing Business measures the connection process at the level of
distribution utilities

Time
Time is recorded in calendar days
...

It is assumed that the minimum time
required for each procedure is 1 day,
except for procedures that can be fully
completed online, for which the time
required is recorded as half a day
...
6)
...
The electricity distribution utility
consulted is the one serving the area (or
areas) where warehouses are located
...

To make the data comparable across
economies, several assumptions about
the warehouse and the electricity connection are used
...

ƒƒ Is located in the economy’s largest
business city
...
1)
...
In
this area a new electricity connection

Figure 14
...
3% 33
...
3%
Procedures

Steps to file an application, prepare a
design, complete works, obtain approvals,
go through inspections, install a meter
and sign a supply contract

is not eligible for a special investment
promotion regime (offering special
subsidization or faster service, for
example)
...
For example, the
property is not near a railway
...

ƒƒ Has 2 stories, both above ground,
with a total surface area of approximately 1,300
...
The plot of
land on which it is built is 929
square meters (10,000 square feet)
...


Assumptions about the
electricity connection
The electricity connection:
ƒƒ Is a permanent one
...

ƒƒ Is 150 meters long
...

ƒƒ Requires works that involve the
crossing of a 10-meter road (such
as by excavation or overhead lines)
but are all carried out on public land
...

ƒƒ Includes only a negligible length in
the customer’s private domain
...
07 gigawatt-hours
(GWh)
...
This has
already been completed, up to and
including the customer’s service

TABLE 14
...


Procedures
A procedure is defined as any interaction of the company’s employees or its
main electrician or electrical engineer
(that is, the one who may have done the
internal wiring) with external parties,
such as the electricity distribution utility, electricity supply utilities, government agencies, electrical contractors
and electrical firms
...
Procedures
that must be completed with the same
utility but with different departments
are counted as separate procedures
(table 14
...

The company’s employees are assumed to complete all procedures
themselves unless the use of a third
party is mandated (for example, if only
an electrician registered with the utility

DATA NOTES

is allowed to submit an application)
...
For all procedures,
only the most likely cases (for example,
more than 50% of the time the utility
has the material) and those followed in
practice for connecting a warehouse to
electricity are counted
...
In all cases the cost excludes
bribes
...
For this reason the security
deposit for a new customer is most
often calculated as a function of the
customer’s estimated consumption
...
The
measure captures the median duration
that the electricity utility and experts
indicate is necessary in practice, rather
than required by law, to complete a
procedure with minimum follow-up and
no extra payments
...
Although procedures may take place simultaneously,
they cannot start on the same day
(that is, simultaneous procedures start
on consecutive days)
...
The time that
the company spends on gathering information is not taken into account
...


Cost
Cost is recorded as a percentage of the
economy’s income per capita
...
All the fees and costs associated
with completing the procedures to connect a warehouse to electricity are
recorded, including those related to
obtaining clearances from government
agencies, applying for the connection,
receiving inspections of both the site
and the internal wiring, purchasing
material, getting the actual connection
works and paying a security deposit
...
If

Doing Business does not record the full
amount of the security deposit
...

Rather than the full amount of the
security deposit, Doing Business records the present value of the losses
in interest earnings experienced by
the customer because the utility holds
the security deposit over a prolonged
period, in most cases until the end of
the contract (assumed to be after 5
years)
...
To
calculate the present value of the lost
interest earnings, the end-2013 lending
rates from the International Monetary
Fund’s International Financial Statistics
are used
...

In some economies the security deposit
can be put up in the form of a bond:
the company can obtain from a bank
or an insurance company a guarantee
issued on the assets it holds with that
financial institution
...
In
return the company will pay the bank
a commission for obtaining the bond
...
The best possible credit
standing and thus the lowest possible
commission are assumed
...
If both options exist, the cheaper alternative is
recorded
...
The customer could
instead have invested this money at the
prevailing lending rate of 20
...
Over
the 5 years of the contract this would
imply a present value of lost interest
earnings of L 70,998
...
In contrast, if
the customer chose to settle the deposit
with a bank guarantee at an annual rate
of 2
...
30
...
doingbusiness
...


REGISTERING PROPERTY
Doing Business records the full sequence of procedures necessary for
a business (the buyer) to purchase a
property from another business (the
seller) and to transfer the property title
to the buyer’s name so that the buyer
can use the property for expanding its
business, use the property as collateral
in taking new loans or, if necessary,
sell the property to another business
...

The transaction is considered complete
when it is opposable to third parties and when the buyer can use the

123

124

Doing Business 2015

Figure 14
...
8 Registering property:
transfer of property between 2 local
companies
Rankings are based on distance to
frontier scores for 3 indicators

Buyer can use
the property,
resell it or use
it as collateral

As % of property
value, no bribes
included

Days to
transfer
property

Number of
procedures

Land & 2-story
warehouse

33
...
3%
Time Cost

Seller with property
registered and no
title disputes
Preregistration

Registration

property, use it as collateral for a bank
loan or resell it (figure 14
...
The ranking
of economies on the ease of registering property is determined by sorting
their distance to frontier scores for
registering property
...
8)
...
Local property lawyers, notaries and property
registries provide information on procedures as well as the time and cost to
complete each of them
...

To make the data comparable across
economies, several assumptions about
the parties to the transaction, the
property and the procedures are used
...

ƒƒ Are located in the periurban area
of the economy’s largest business

Postregistration

33
...
For 11 economies the data are
also collected for the second largest
business city (see table 14A
...

ƒƒ Are 100% domestically and privately
owned
...

ƒƒ Perform general commercial activities
...
The sale price equals the
value
...

ƒƒ Has no mortgages attached and
has been under the same ownership
for the past 10 years
...

ƒƒ Is located in a periurban commercial
zone, and no rezoning is required
...
The
land area is 557
...
A 2-story warehouse of 929 square meters (10,000
square feet) is located on the land
...
It has
no heating system
...


Steps to check encumbrances, obtain
clearance certificates, prepare deed and
transfer title so that the property can be
occupied, sold or used as collateral

ƒƒ Will not be subject to renovations

or additional building following the
purchase
...

ƒƒ Will not be used for special purposes, and no special permits, such as
for residential use, industrial plants,
waste storage or certain types of
agricultural activities, are required
...


Procedures
A procedure is defined as any interaction of the buyer or the seller, their
agents (if an agent is legally or in
practice required) or the property with
external parties, including government
agencies, inspectors, notaries and lawyers
...
All procedures that are legally
or in practice required for registering
property are recorded, even if they may
be avoided in exceptional cases (table
14
...
It is assumed that the buyer follows the fastest legal option available
and used by the majority of property
owners
...
6 What do the registering
property indicators measure?
Procedures to legally transfer title on
immovable property (number)
Preregistration procedures (for example,
checking for liens, notarizing sales agreement,
paying property transfer taxes)
Registration procedures in the economy’s largest
business citya
Postregistration procedures (for example, filing
title with municipality)
Time required to complete each procedure
(calendar days)
Does not include time spent gathering
information
Each procedure starts on a separate day—
though procedures that can be fully completed
online are an exception to this rule
Procedure considered completed once final
document is received
No prior contact with officials
Cost required to complete each procedure
(% of property value)
Official costs only, no bribes
No value added or capital gains taxes included
a
...


necessary in the registration process,
it is assumed that the buyer does not
employ an outside facilitator in the
registration process unless legally or in
practice required to do so
...
The
measure captures the median duration that property lawyers, notaries or
registry officials indicate is necessary
to complete a procedure
...
Although procedures may take place simultaneously,
they cannot start on the same day,
again with the exception of procedures
that can be fully completed online
...
If a
procedure can be accelerated for an additional cost, the fastest legal procedure

available and used by the majority of
property owners is chosen
...
It is assumed
that the parties involved are aware of all
requirements and their sequence from
the beginning
...


Cost
Cost is recorded as a percentage of the
property value, assumed to be equivalent to 50 times income per capita
...
Other taxes, such
as capital gains tax or value added tax,
are excluded from the cost measure
...

If cost estimates differ among sources,
the median reported value is used
...
doingbusiness
...


GETTING CREDIT
Doing Business measures the legal
rights of borrowers and lenders with respect to secured transactions through
one set of indicators and the sharing

of credit information through another
...
The second set measures the coverage, scope
and accessibility of credit information
available through credit reporting service providers such as credit bureaus
or credit registries (figure 14
...
The
ranking of economies on the ease of
getting credit is determined by sorting
their distance to frontier scores for
getting credit
...
10)
...

Questionnaire responses are verified
through several rounds of follow-up
communication with respondents as
well as by contacting third parties and
consulting public sources
...


Figure 14
...
10 Getting credit: collateral
rules and credit information
Rankings are based on distance to frontier
scores for the sum of 2 indicators
Regulations on nonpossessory security
interests in movable property

100%
Sum of strength of
legal rights index (0–12)
and
depth of credit
information index
(0–8)

Scope, quality and accessibility of credit
information through credit bureaus and registries
Note: Credit bureau coverage and credit registry
coverage are measured but do not count for the
rankings
...
7)
...
For each
economy it is first assessed whether a
unitary secured transactions system
exists
...
Special emphasis
is given to how the collateral registry
operates (if registration of security interests is possible)
...

In some economies the legal framework
for secured transactions will allow only
case A or case B (not both) to apply
...

Several assumptions about the secured
borrower (ABC) and lender (BizBank)
are used:
ƒ ABC is a domestic limited liability
company
...
7 What do the getting
credit indicators measure?
Strength of legal rights index (0–12)
Protection of rights of borrowers and lenders
through collateral laws
Protection of secured creditors’ rights through
bankruptcy laws
Depth of credit information index (0–8)
Scope and accessibility of credit information
distributed by credit registries and credit
bureaus
Credit bureau coverage (% of adults)
Number of individuals and firms listed in the
largest credit bureau as percentage of adult
population
Credit registry coverage (% of adults)
Number of individuals and firms listed in a credit
registry as percentage of adult population

ƒ ABC has up to 50 employees
...
For 11 economies the data are also collected for
the second largest business city
(see table 14A
...

ƒ Both ABC and BizBank are 100%
domestically owned
...
In case A, as collateral for the loan, ABC grants BizBank
a nonpossessory security interest in
one category of movable assets, for
example, its machinery or its inventory
...
In
economies where the law does not allow nonpossessory security interests
in movable property, ABC and BizBank
use a fiduciary transfer-of-title arrangement (or a similar substitute for
nonpossessory security interests)
...

ABC keeps ownership and possession
of the assets
...

The strength of legal rights index
includes 10 aspects related to legal
rights in collateral law and 2 aspects
in bankruptcy law
...

ƒ The law allows a business to grant
a nonpossessory security right in a
single category of movable assets
(such as machinery or inventory),
without requiring a specific description of the collateral
...

ƒ A security right can be given over
future or after-acquired assets
and extends automatically to the
products, proceeds or replacements
of the original assets
...

ƒ A collateral registry or registration
institution for security interests
granted over movable property by
incorporated and nonincorporated

DATA NOTES

ƒ

ƒ

ƒ

ƒ

ƒ

ƒ

entities is in operation, unified geographically and with an electronic database indexed by debtors’
names
...
The
registry also publicizes functional
equivalents to security interests
...

Secured creditors are paid first (for
example, before tax claims and employee claims) when a debtor defaults
outside an insolvency procedure
...

Secured creditors are subject to
an automatic stay on enforcement
procedures when a debtor enters
a court-supervised reorganization
procedure, but the law protects
secured creditors’ rights by providing clear grounds for relief from the
automatic stay (for example, if the
movable property is in danger) or
setting a time limit for it
...


As a result of changes introduced
this year, the first component of the
index replaces one relating to legal
limitations on who can participate in a
security agreement
...
The scoring now
penalizes economies for not having an
automatic stay on enforcement during

reorganization procedures so as to
ensure that a viable business can continue to operate
...

The index ranges from 0 to 12, with
higher scores indicating that collateral
and bankruptcy laws are better designed to expand access to credit
...

First, banking supervision authorities
and public information sources are
surveyed to confirm the presence of a
credit reporting service provider, such
as a credit bureau or credit registry
...
Questionnaire responses
are verified through several rounds of
follow-up communication with respondents as well as by contacting third
parties and consulting public sources
...


Depth of credit information
index
The depth of credit information index
measures rules and practices affecting
the coverage, scope and accessibility
of credit information available through
either a credit bureau or a credit registry
...

ƒ Both positive credit information
(for example, original loan amounts,
outstanding loan amounts and a
pattern of on-time repayments) and
negative information (for example,
late payments and the number and
amount of defaults) are distributed
...

At least 2 years of historical data
are distributed
...
5
Data on loan amounts below 1% of
income per capita are distributed
...
Credit bureaus and registries that charge more than 1% of
income per capita for borrowers to
inspect their data obtain a score of
0 for this component
...
7
Bureau or registry credit scores are
offered as a value added service to
help data users assess the creditworthiness of borrowers
...
The index
ranges from 0 to 8, with higher values
indicating the availability of more credit
information, from either a credit bureau
or a credit registry, to facilitate lending
decisions
...

In Lithuania, for example, both a credit
bureau and a credit registry operate
...
Both distribute
positive and negative information (a
score of 1)
...
Both distribute at least
2 years of historical data (a score of
1)
...
Borrowers
have the right to access their data in
both the credit bureau and the credit
registry free of charge once a year (a
score of 1)
...
Although
the credit registry does not provide
credit scores, the credit bureau does (a
score of 1)
...


Credit bureau coverage
Credit bureau coverage reports the
number of individuals and firms
listed in a credit bureau’s database as
of January 1, 2014, with information on
their borrowing history from the past
5 years
...
A credit bureau
is defined as a private firm or nonprofit
organization that maintains a database
on the creditworthiness of borrowers
(individuals or firms) in the financial
system and facilitates the exchange
of credit information among creditors
...
) Credit investigative
bureaus and credit reporting firms
that do not directly facilitate information exchange among banks and other
financial institutions are not considered
...
0%
...
The number is expressed as a
percentage of the adult population (the
population age 15 and above in 2013
according to the World Bank’s World

Development Indicators)
...
If no registry operates, the coverage value is 0
...

The data details on getting credit can be
found for each economy at http://www

...
org
...


PROTECTING MINORITY
INVESTORS
Doing Business measures the protection
of minority investors from conflicts of
interest through one set of indicators
and shareholders’ rights in corporate
governance through another (table
14
...
The data come from a questionnaire administered to corporate and

securities lawyers and are based on
securities regulations, company laws,
civil procedure codes and court rules of
evidence
...
These scores are
the simple average of the distance to
frontier scores for the extent of conflict
of interest regulation index and the
extent of shareholder governance index
(figure 14
...


Protection of shareholders
from conflicts of interest
The extent of conflict of interest regulation index measures the protection of
shareholders against directors’ misuse
of corporate assets for personal gain by
distinguishing 3 dimensions of regulation that address conflicts of interest:
transparency of related-party transactions (extent of disclosure index), shareholders’ ability to sue and hold directors
liable for self-dealing (extent of director
liability index) and access to evidence
and allocation of legal expenses in

TABLE 14
...
5)

Review and approval requirements for relatedparty transactions

Shareholders’ rights and role in major corporate
decisions

Internal, immediate and periodic disclosure
requirements for related-party transactions
Extent of director liability index (0–10)

Strength of governance structure index (0–10
...

ƒƒ Has a supervisory board (applicable to economies with a 2-tier
board system) on which 60% of the
shareholder-elected members have
been appointed by Mr
...

ƒƒ Is a manufacturing company
...


Figure 14
...
James owns 60% of Buyer

and elected 2 directors to Buyer’s
5-member board
...
James also owns 90% of Seller,
a company that operates a chain of
retail hardware stores
...

ƒƒ Mr
...
The price is equal to
10% of Buyer’s assets and is higher
than the market value
...

ƒƒ Buyer enters into the transaction
...


shareholder litigation (ease of shareholder suits index)
...
12)
...
If the number of publicly traded companies
listed on that exchange is less than
10, or if there is no stock exchange
in the economy, it is assumed that
Buyer is a large private company
with multiple shareholders
...
12 How well are minority shareholders protected from conflicts of
interest?
Extent of disclosure

Disclosure and approval requirements

Extent of director liability

La

ui
ws

Ability to sue directors for damages

Ease of shareholder suits

t

Mr
...
Shareholders sue Mr
...


Extent of disclosure index
The extent of disclosure index has 5
components:
ƒƒ Which corporate body can provide
legally sufficient approval for the
transaction
...
James is permitted to vote;
2 if the board of directors or the
supervisory board must vote and
Mr
...

James is not permitted to vote
...
A
score of 0 is assigned if no disclosure
is required; 1 if disclosure on the
terms of the transaction is required
but not on Mr
...
James’s conflict of
interest is required
...
A score of 0 is
assigned if no disclosure on the
transaction is required; 1 if disclosure on the terms of the transaction
is required but not on Mr
...
James’s
conflict of interest is required
...
James
to the board of directors or the supervisory board is required
...
James’s interest in the
Buyer-Seller transaction is required
...
A score of 0 is
assigned if no; 1 if yes
...
In Poland, for example, the board of
directors must approve the transaction
and Mr
...
Buyer is required to disclose
immediately all information affecting
the stock price, including the conflict of
interest (a score of 2)
...
James’s ownership in Buyer and Seller (a score of 2)
...
James must
disclose his conflict of interest to the
other directors, but he is not required to
provide specific information about it (a
score of 1)
...
Adding these numbers
gives Poland a score of 7 on the extent
of disclosure index
...
James liable for the
damage the Buyer-Seller transaction causes to the company
...
James
cannot be held liable or can be held
liable only for fraud, bad faith or
gross negligence; 1 if Mr
...
James can
be held liable when the transaction
is unfair or prejudicial to the other
shareholders
...

A score of 0 is assigned if the approving body cannot be held liable
or can be held liable only for fraud,
bad faith or gross negligence; 1 if the

ƒ

ƒ

ƒ

ƒ

ƒ

approving body can be held liable for
negligence; 2 if the approving body
can be held liable when the transaction is unfair or prejudicial to the
other shareholders
...
A score of 0 is
assigned if rescission is unavailable
or is available only in case of fraud,
bad faith or gross negligence; 1 if rescission is available when the transaction is oppressive or prejudicial to
the other shareholders; 2 if rescission
is available when the transaction is
unfair or entails a conflict of interest
...
James pays damages
for the harm caused to the company upon a successful claim by the
shareholder plaintiff
...

Whether Mr
...
A score of 0 is assigned if
no; 1 if yes
...

James
...

Whether shareholder plaintiffs are
able to sue directly or derivatively for
the damage the transaction causes
to the company
...


The index ranges from 0 to 10, with
higher values indicating greater liability
of directors
...
James liable in Panama, for example, a plaintiff
must prove that Mr
...
To hold the other
directors liable, a plaintiff must prove
that they acted negligently (a score of
1)
...
If Mr
...
Mr
...
Direct or derivative suits
are available for shareholders holding 10% of share capital (a score of 1)
...


Ease of shareholder suits index
The ease of shareholder suits index has
6 components:
ƒ What range of documents is available to the shareholder plaintiff
from the defendant and witnesses
during trial
...

ƒ Whether the plaintiff can directly
examine the defendant and witnesses during trial
...

ƒ Whether the plaintiff can obtain categories of relevant documents from
the defendant without identifying
each document specifically
...

ƒ Whether shareholders owning 10%
of the company’s share capital have
the right to inspect the transaction
documents before filing suit or request that a government inspector
investigate the Buyer-Seller transaction without filing suit
...
11
ƒ Whether the standard of proof for
civil suits is lower than that for a
criminal case
...

ƒ Whether shareholder plaintiffs
can recover their legal expenses

DATA NOTES

from the company
...
12
The index ranges from 0 to 10, with
higher values indicating greater powers of shareholders to challenge the
transaction
...
The plaintiff can examine the defendant and
witnesses during trial, without prior
approval of the questions by the court
(a score of 2)
...
A
shareholder holding 10% of Buyer’s
shares can request that a government
inspector review suspected mismanagement by Mr
...
The standard of proof for civil suits
is the same as that for a criminal case
(a score of 0)
...
Adding these
numbers gives Croatia a score of 5 on
the ease of shareholder suits index
...
The index is
divided by 3 so that it ranges from 0
to 10
...


Shareholders’ rights in
corporate governance
The extent of shareholder governance
index measures shareholders’ rights in
corporate governance by distinguishing 3 dimensions of good governance:
shareholders’ rights and role in major
corporate decisions (extent of shareholder rights index), governance safeguards protecting shareholders from
undue board control and entrenchment
(strength of governance structure
index) and corporate transparency
on ownership stakes, compensation,
audits and financial prospects (extent
of corporate transparency index)
...
5 if it would also apply if
Buyer were a privately held joint stock
company not listed on any stock exchange
...

ƒ Whether shareholders owning 10%
of Buyer’s share capital have the
right to call for an extraordinary
meeting of shareholders
...

ƒ Whether Buyer must obtain its
shareholders’ approval every time it
issues new shares
...

ƒ Whether shareholders are required
by law to approve the election and
dismissal of the external auditor
...


Strength of governance
structure index
For each component of the strength
of governance structure index, a score
of 0 is assigned if the answer is no; 1
if it is yes; and 1
...
The index has 7 components:
ƒ Whether the CEO is barred from
also being chair of the board of
directors
...

ƒ Whether Buyer must have a separate audit committee
...

ƒ Whether a potential acquirer must
make a tender offer to all shareholders upon acquiring 50% of Buyer
...

ƒ Whether a subsidiary is barred from
acquiring shares issued by its parent company
...
5 if it would also apply if
Buyer were a privately held joint stock
company not listed on any stock exchange
...

ƒ Whether Buyer must disclose information about board members’
other directorships as well as
basic information on their primary
employment
...

ƒ Whether Buyer must have its annual financial statements audited
by an external auditor
...

ƒƒ Whether audit reports must be
disclosed to the public
...
The index is divided by 3 so that
it ranges from 0 to 10
...


Strength of minority investor
protection index
The strength of minority investor
protection index is the average of the
extent of conflict of interest regulation
index and the extent of shareholder
governance index
...

The data details on protecting minority
investors can be found for each economy
at http://www
...
org
...
The
extent of shareholder governance index
was introduced in Doing Business 2015
...
13)
...
14 Taxes and
contributions measured include the
profit or corporate income tax, social

Figure 14
...

The ranking of economies on the ease
of paying taxes is determined by sorting their distance to frontier scores
for paying taxes
...
14), with a
threshold and a nonlinear transformation applied to one of the component
indicators, the total tax rate
...
It is calculated and adjusted
on a yearly basis
...
1%
...
The threshold is not based
on any economic theory of an “optimal
tax rate” that minimizes distortions or
maximizes efficiency in an economy’s
overall tax system
...


Figure 14
...
3%
33
...
3%
Payments

Number of tax payments per year
Note: All economies below the threshold receive the
same score in the total tax rate component as the
economies at the threshold
...

Doing Business measures all taxes and
contributions that are government

DATA NOTES

mandated (at any level—federal, state
or local) and that apply to the standardized business and have an impact in its
financial statements
...
As defined for the
purposes of government national accounts, taxes include only compulsory,
unrequited payments to general government
...

One main difference relates to labor
contributions
...
It includes,
for example, Australia’s compulsory
superannuation guarantee and workers’ compensation insurance
...
For example, value added
taxes are generally excluded (provided
that they are not irrecoverable) because
they do not affect the accounting profits of the business—that is, they are not
reflected in the income statement
...

Doing Business uses a case scenario to
measure the taxes and contributions
paid by a standardized business and
the complexity of an economy’s tax
compliance system
...
In each
economy tax experts from a number
of different firms (in many economies
these include PwC) compute the taxes
and mandatory contributions due in
their jurisdiction based on the standardized case study facts
...
To make the data

comparable across economies, several
assumptions about the business and
the taxes and contributions are used
...

This has led to a refinement of the
questions on the time to pay taxes, the
collection of additional data on the labor tax wedge for further research and
the introduction of a threshold applied
to the total tax rate for the purpose of
calculating the ranking on the ease of
paying taxes
...
If there is more than one type
of limited liability company in the
economy, the limited liability form
most common among domestic
firms is chosen
...

ƒ Started operations on January 1,
2012
...

ƒ Operates in the economy’s largest
business city
...
1)
...

ƒ At the end of 2012, has a start-up
capital of 102 times income per
capita
...
Specifically,
it produces ceramic flowerpots
and sells them at retail
...

ƒ At the beginning of 2013, owns 2
plots of land, 1 building, machinery,

ƒ
ƒ
ƒ

ƒ

ƒ

ƒ

office equipment, computers and 1
truck and leases 1 truck
...

Has 60 employees—4 managers, 8
assistants and 48 workers
...
The company pays for additional medical insurance for employees (not mandated by any law)
as an additional benefit
...
When applicable, it
is assumed that the company pays
the fringe benefit tax on this expense or that the benefit becomes
taxable income for the employee
...

Therefore, even when such benefits
are frequent, they are not added to
or removed from the taxable gross
salaries to arrive at the labor tax or
contribution calculation
...

Makes a loss in the first year of
operation
...

Distributes 50% of its net profits as
dividends to the owners at the end
of the second year
...

Is subject to a series of detailed
assumptions on expenses and
transactions to further standardize
the case
...
For example,
the owner who is also a manager
spends 10% of income per capita

133

134

DOING BUSINESS 2015

on traveling for the company (20%
of this owner’s expenses are purely
private, 20% are for entertaining
customers, and 60% are for business travel)
...
A tax or contribution
is considered distinct if it has a
different name or is collected by a
different agency
...

ƒ The number of times the company
pays taxes and contributions in a
year is the number of different taxes
or contributions multiplied by the
frequency of payment (or withholding) for each tax
...


Tax payments
The tax payments indicator reflects
the total number of taxes and contributions paid, the method of payment, the frequency of payment, the
frequency of filing and the number of
agencies involved for the standardized case study company during the
second year of operation (table 14
...

It includes taxes withheld by the company, such as sales tax, value added
tax and employee-borne labor taxes
...

Although they do not affect the income
statements of the company, they add
to the administrative burden of complying with the tax system and so are
included in the tax payments measure
...
Where full

electronic filing and payment is allowed
and it is used by the majority of medium-size businesses, the tax is counted
as paid once a year even if filings and
payments are more frequent
...

Where 2 or more taxes or contributions
are filed for and paid jointly using the
same form, each of these joint payments is counted once
...


Time
Time is recorded in hours per year
...
9 What do the paying taxes
indicators measure?
Tax payments for a manufacturing company in
2013 (number per year adjusted for electronic
and joint filing and payment)
Total number of taxes and contributions paid,
including consumption taxes (value added tax,
sales tax or goods and service tax)
Method and frequency of filing and payment
Time required to comply with 3 major taxes
(hours per year)
Collecting information and computing the tax
payable
Completing tax return forms, filing with proper
agencies
Arranging payment or withholding
Preparing separate mandatory tax accounting
books, if required
Total tax rate (% of profit before all taxes)
Profit or corporate income tax
Social contributions and labor taxes paid by the
employer
Property and property transfer taxes
Dividend, capital gains and financial transactions
taxes
Waste collection, vehicle, road and other taxes

and labor taxes, including payroll taxes
and social contributions
...
If separate accounting books must be kept for tax
purposes—or separate calculations
made—the time associated with these
processes is included
...
Filing
time includes the time to complete all
necessary tax return forms and file
the relevant returns at the tax authority
...
Where taxes and contributions are paid in person, the time
includes delays while waiting
...
Doing
Business 2015 reports the total tax
rate for calendar year 2013
...
The taxes
withheld (such as personal income tax)
or collected by the company and remitted to the tax authorities (such as value
added tax, sales tax or goods and service tax) but not borne by the company
are excluded
...
Fuel taxes are no longer
included in the total tax rate because of
the difficulty of computing these taxes
in a consistent way for all economies
covered
...
10 Computing the total tax rate for Kiribati
Commercial
Total tax rate
profit*
t = a/c
c
(%)
($A)

Statutory
rate
r
(%)

Statutory
tax base
b
($A)

Actual tax
payable
a=r×b
($A)

Corporate income tax
(taxable income)

20
...
0

109,381

33,283

137,156

24
...
5

154,711

11,603

137,156

8
...
7

* Profit before all taxes borne
...
4 times income per capita
...

Source: Doing Business database
...
Fuel taxes continue to be counted
in the number of payments
...

It differs from the statutory tax rate,
which merely provides the factor to be
applied to the tax base
...

Data for Kiribati are provided as an
example (table 14
...

Commercial profit is essentially net
profit before all taxes borne
...
In
computing profit before tax, many of
the taxes borne by a firm are deductible
...
Commercial
profit therefore presents a clear picture
of the actual profit of a business before
any of the taxes it bears in the course
of the fiscal year
...
To compute the

commercial depreciation, a straightline depreciation method is applied,
with the following rates: 0% for the
land, 5% for the building, 10% for the
machinery, 33% for the computers,
20% for the office equipment, 20% for
the truck and 10% for business development expenses
...
4 times income per
capita
...
But while the work undertaken
by PwC is usually based on data received from the largest companies in
the economy, Doing Business focuses
on a case study for a standardized
medium-size company
...
doingbusiness
...
This methodology was
developed by Djankov and others (2010)
...

The time and cost necessary to complete 4 predefined stages (document

preparation; customs clearance and
inspections; inland transport and handling; and port and terminal handling) for
exporting and importing the goods are
recorded; however, the time and cost for
sea transport are not included
...
The process of exporting
goods ranges from packing the goods
into the container at the warehouse to
their departure from the port of exit
...
For landlocked economies,
since the seaport is located in the transit
economy, the time, cost and documents
associated with the processes at the
inland border are also included
...
15)
...
These scores
are the simple average of the distance
to frontier scores for each of the component indicators (figure 14
...

Local freight forwarders, shipping
lines, customs brokers, port officials
and banks provide information on
required documents, cost and time to
export and import
...


Assumptions about the traded
goods
The traded product travels in a drycargo, 20-foot, full container load
...
The product:
ƒ Is not hazardous nor does it include
military items
...


135

136

Doing Business 2015

Figure 14
...
For
example, if a certificate of origin is only
presented to qualify for a preferential
tariff rate under trade agreements, the
document is not counted
...


Time
Figure 14
...
3%
Documents
to export
and import

Document preparation,
customs clearance and
inspections, port and
terminal handling, inland
transport and handling
33
...
3%
Cost to export
and import

US$ per 20-foot container, no
bribes or tariffs included

ƒƒ Does not require any special phy-

tosanitary or environmental safety
standards other than accepted
international standards
...


Assumptions about the
business
The business:
ƒƒ Is located in the economy’s largest
business city
...
1)
...

ƒƒ Does not operate in an export

processing zone or an industrial
estate with special export or import
privileges
...

ƒƒ Is 100% domestically owned
...
All
documents required by law or common
practice by relevant agencies—including government ministries, customs
authorities, port authorities and other
control agencies—per export and import shipment are taken into account
(table 14
...
For landlocked economies,
documents required by authorities in
the transit economy are also included
...

Documents that are requested at the
time of clearance but that are valid
for a year or longer or do not require
renewal per shipment (for example,
an annual tax clearance certificate)
are not included
...
The time
calculation for each of the 4 predefined
stages starts from the moment the
stage is initiated and runs until it is
completed
...

Sea transport time is not included
...
It is assumed
that document preparation, inland
transport and handling, customs clearance and inspections, and port and
terminal handling require a minimum
time of 1 day each and cannot take
place simultaneously
...


Cost
Cost measures the fees levied on a
20-foot container in U
...
dollars
...
These
include but are not limited to costs

Data Notes

TABLE 14
...

The exporter is responsible for the
incurred costs related to exporting
the goods until they depart from the
exporting economy, and the importer
is responsible for the incurred costs
related to importing from the moment
the goods arrive at the seaport in the
importing economy
...
Only
official costs are recorded
...
doingbusiness
...
This methodology
was developed by Djankov, Freund and
Pham (2010) and is adopted here with
minor changes
...
The data are built by following
the step-by-step evolution of a commercial sale dispute before local courts
(figure 14
...
The data are collected
through study of the codes of civil
procedure and other court regulations
as well as questionnaires completed
by local litigation lawyers and judges
...
These scores
are the simple average of the distance
to frontier scores for each of the component indicators (figure 14
...

The name of the relevant court in each
economy—the court in the largest
business city with jurisdiction over
the standardized commercial dispute
described below—is published at
http://www
...
org/data
/exploretopics/enforcing-contracts
...


that the goods are not of adequate
quality
...

ƒƒ Seller (the plaintiff) sues Buyer (the
defendant) to recover the amount
under the sales agreement
...
As noted,
for 11 economies the data are also

Figure 14
...
17
ƒƒ The dispute concerns a lawful
transaction between 2 businesses
(Seller and Buyer), both located in
the economy’s largest business
city
...
1)
...
After Seller delivers
the goods to Buyer, Buyer refuses
to pay the contract price, alleging

Figure 14
...
3% 33
...
3%
Procedures

Steps to file claim, obtain judgment
and enforce it

137

138

DOING BUSINESS 2015

ƒ

ƒ

ƒ

ƒ

collected for the second largest
business city (see table 14A
...

At the outset of the dispute, Seller
decides to attach Buyer’s movable
assets (for example, office equipment and vehicles) because Seller
fears that Buyer may hide its assets
or otherwise become insolvent
...
Because the court cannot decide the case on the basis of
documentary evidence or legal title
alone, an expert opinion is given on
the quality of the goods
...
If it is standard practice for
the judge to appoint an independent
expert, the judge does so
...

Following the expert opinion, the
judge decides that the goods delivered by Seller were of adequate
quality and that Buyer must pay
the contract price
...

Buyer does not appeal the judgment
...
12 What do the enforcing
contracts indicators measure?
Procedures to enforce a contract through the
courts (number)
Steps to file and serve the case
Steps for trial and judgment
Steps to enforce the judgment
Time required to complete procedures
(calendar days)
Time to file and serve the case
Time for trial and to obtain the judgment
Time to enforce the judgment
Cost required to complete procedures (% of
claim)
Average attorney fees
Court costs
Enforcement costs

time allocated by law for appeal
lapses
...
The money is successfully
collected through a public sale of
Buyer’s movable assets (for example, office equipment and vehicles)
...
A procedure is defined as
any interaction, required by law or commonly carried out in practice, between
the parties or between them and the
judge or court officer
...
Procedural steps
include steps to file and serve the case,
steps to assign the case to a judge,
steps for trial and judgment and steps
necessary to enforce the judgment
(table 14
...

To indicate overall efficiency, 1 procedure is subtracted from the total number for economies that have specialized
commercial courts or divisions, and
1 procedure for economies that allow
electronic filing of the initial complaint
...


Time
Time is recorded in calendar days,
counted from the moment the plaintiff
decides to file the lawsuit in court
until payment
...
The
average duration of 3 different stages
of dispute resolution is recorded: the
completion of service of process (time
to file and serve the case), the issuance of judgment (time for trial and to
obtain the judgment) and the recovery
of the claim value through a public sale
(time for enforcement of the judgment)
...
Three types of
costs are recorded: court costs, enforcement costs and average attorney fees
...
Enforcement costs are all costs
that Seller (plaintiff) must advance to
enforce the judgment through a public
sale of Buyer’s movable assets, regardless of the final cost borne by Seller
...
Bribes are not taken
into account
...
doingbusiness
...
This methodology was
developed by Djankov and others (2003)
and is adopted here with minor changes
...
In addition,
this year it introduces a new measure,
the strength of insolvency framework
index, evaluating the adequacy and
integrity of the legal framework applicable to liquidation and reorganization
proceedings
...
The ranking of economies
on the ease of resolving insolvency is
determined by sorting their distance to
frontier scores for resolving insolvency
...
19)
...
19 Resolving insolvency:
recovery rate and strength of insolvency
framework
Rankings are based on distance to
frontier scores for 2 indicators

50% 50%
Recovery Strength of
rate insolvency
framework
index

but contracts commonly use some
other provision to that effect, this
provision is specified in the loan
agreement
...

ƒ Has a market value, operating as a
going concern, of 100 times income
per capita or $200,000, whichever
is greater
...


Assumptions about the case
Debt recovery in insolvency
To make the data on the time, cost and
outcome of insolvency proceedings
comparable across economies, several
assumptions about the business and
the case are used
...

ƒ Operates in the economy’s largest
business city
...
1)
...

ƒ Has downtown real estate, where it
runs a hotel, as its major asset
...

ƒ Has 201 employees and 50 suppliers, each of which is owed money for
the last delivery
...
A universal business
charge (an enterprise charge) is also
assumed in economies where such
collateral is recognized
...
The company’s loss in 2013
reduced its net worth to a negative
figure
...
There is no
cash to pay the bank interest or principal in full, due the next day, January
2
...
Management believes that
losses will be incurred in 2014 and
2015 as well
...

The amount outstanding under the
loan agreement is exactly equal to
the market value of the hotel business
and represents 74% of the company’s
total debt
...

The company has too many creditors
to negotiate an informal out-of-court
workout
...


Assumptions about the parties
The bank wants to recover as much
as possible of its loan, as quickly and
cheaply as possible
...
The
majority shareholder wants to keep
the company operating and under his
control
...
All the parties are
local entities or citizens; no foreign
parties are involved
...
13)
...
Potential delay tactics by the

TABLE 14
...
20 Recovery rate is a function of the time, cost and outcome of insolvency
proceedings against a local company

Secured creditor
with unpaid claim

Time

Cost

Outcome

Recovery rate

FIGURE 14
...


Cost
The cost of the proceedings is recorded as a percentage of the value
of the debtor’s estate
...


Outcome
Recovery by creditors depends on
whether the hotel business emerges
from the proceedings as a going
concern or the company’s assets are
sold piecemeal
...
If the assets are sold piecemeal, the maximum amount that can
be recovered is 70% of the value of the
hotel
...
20)
...
Then the costs of the
proceedings are deducted (1 cent for
each percentage point of the value of
the debtor’s estate)
...
Consistent with
international accounting practice, the
annual depreciation rate for furniture
is taken to be 20%
...
The recovery rate
is the present value of the remaining
proceeds, based on end-2013 lending
rates from the International Monetary
Fund’s International Financial Statistics,
supplemented with data from central
banks and the Economist Intelligence
Unit
...
This
means that creditors are unlikely to
recover their money through a formal
legal process
...
In addition, a “no practice” economy receives
a score of 0 on the strength of insolvency framework index even if its legal
framework includes provisions related
to insolvency proceedings (liquidation
or reorganization)
...
21; table 14
...


Commencement of
proceedings index
The commencement of proceedings
index has 3 components:
ƒ Whether debtors can initiate both
liquidation and reorganization proceedings
...
5 if they can initiate only one of these types (either
liquidation or reorganization); 0
if they cannot initiate insolvency
proceedings
...
A score of 1 is assigned if
creditors can initiate both types of
proceedings; 0
...

ƒ What standard is used for commencement of insolvency proceedings
...
14 What do the indicators
on the strength of the insolvency
framework measure?
Commencement of proceedings index (0–3)
Availability of liquidation and reorganization to
debtors and creditors
Standards for commencement of insolvency
proceedings
Management of debtor’s assets index (0–6)
Continuation and rejection of contracts during
insolvency
Avoidance of preferential and undervalued
transactions
Post-commencement credit
Reorganization proceedings index (0–3)
Approval and content of the reorganization plan
Creditor participation index (0–4)
Creditors’ participation in and rights during
liquidation and reorganization proceedings
Strength of insolvency framework index (0–16)
Sum of the commencement of proceedings,
management of debtor’s assets, reorganization
proceedings and creditor participation indices

mature) is used; 0
...
5 if both tests are
required; 0 if a different test is used
...
In Bulgaria,
for example, debtors can initiate both
liquidation and reorganization proceedings (a score of 1), as can creditors (a
score of 1)
...
Adding these
numbers gives Bulgaria a score of 3
on the commencement of proceedings
index
...

A score of 1 is assigned if yes; 0 if
continuation of contracts is not
possible or if the law contains no
provisions on this subject
...

A score of 1 is assigned if yes; 0 if rejection of contracts is not possible
...
A score of 1 is assigned if yes;
0 if avoidance of such transactions
is not possible
...
A score of 1 is assigned if yes;
0 if avoidance of such transactions
is not possible
...
A score
of 1 is assigned if yes; 0 if obtaining
post-commencement financing is
not possible or if the law contains no
provisions on this subject
...
A score of 1 is assigned
if yes; 0
...


The index ranges from 0 to 6, with
higher values indicating more advantageous treatment of the debtor’s assets
from the perspective of the company’s
stakeholders
...
But the insolvency
framework contains no provisions on
either preferential transactions (a score
of 0) or undervalued ones (a score of
0)
...
Adding these numbers gives Rwanda
a score of 4 on the management of
debtor’s assets index
...
A score of 1 is assigned if yes;
0
...

ƒ Whether creditors entitled to vote
on the plan are divided into classes,
each class votes separately and the
creditors within each class are treated equally
...

ƒ Whether the insolvency framework
requires that dissenting creditors receive as much under the reorganization plan as they would have received
in liquidation
...

The index ranges from 0 to 3, with
higher values indicating greater compliance with internationally accepted

141

142

DOING BUSINESS 2015

practices
...
In Estonia, another example, only
creditors whose rights are affected by
the reorganization plan are allowed to
vote (a score of 1)
...
But there are no
provisions requiring that the return to
dissenting creditors be equal to what
they would have received in liquidation
(a score of 0)
...


Creditor participation index
The creditor participation index has 4
components:
ƒ Whether creditors participate in the
selection of an insolvency representative
...

ƒ Whether creditors are required to
approve the sale of substantial assets of the debtor in the course of
insolvency proceedings
...

ƒ Whether an individual creditor has
the right to access information
about insolvency proceedings,
either by requesting it from an
insolvency representative or by reviewing the official records
...

ƒ Whether an individual creditor can
object to a decision of the court or
of the insolvency representative to
approve or reject claims against the
debtor brought by the creditor itself
and by other creditors
...

The index ranges from 0 to 4, with
higher values indicating greater participation of creditors
...
The insolvency
representative decides unilaterally on

the sale of the debtor’s assets (a score
of 0)
...
And any creditor
is allowed to challenge a decision of the
insolvency representative to approve all
claims if this decision affects the creditor’s rights (a score of 1)
...


Strength of insolvency
framework index
The strength of insolvency framework
index is the sum of the scores on the
commencement of proceedings index,
management of debtor’s assets index,
reorganization proceedings index and
creditor participation index
...

This methodology was developed by
Djankov, Hart and others (2008) and
is adopted here with several changes
...
The best practices tested in
this index were developed on the basis
of the World Bank’s Principles for
Effective Insolvency and Creditor/
Debtor Regimes and the United Nations
Commission on International Trade Law’s
Legislative Guide on Insolvency Law
...
22)
...
Also new is that Doing
Business collects data on regulations
applying to employees hired through
temporary-work agencies as well
as on those applying to permanent
employees or employees hired on fixedterm contracts
...

Over the period from 2007 to 2011
improvements were made to align
the methodology for the labor market regulation indicators (formerly
the employing workers indicators)
with the letter and spirit of the
International Labour Organization
(ILO) conventions
...
22 How flexible are hiring, work scheduling and redundancy rules?
2
...
Hiring

3
...
The Doing Business
methodology is fully consistent with
these 6 conventions
...

Between 2009 and 2011 the World
Bank Group worked with a consultative group—including labor lawyers,
employer and employee representatives, and experts from the ILO,
the Organisation for Economic Cooperation and Development (OECD),
civil society and the private sector—to
review the methodology for the labor
market regulation indicators and explore future areas of research
...
doingbusiness
...

Doing Business 2015 presents the data
for the labor market regulation indicators in an annex
...
Detailed data collected on
labor market regulations are available
on the Doing Business website (http://
www
...
org)
...

Employment laws and regulations as
well as secondary sources are reviewed
to ensure accuracy
...


Assumptions about the worker
The worker:
ƒ Is a cashier in a supermarket or
grocery store
...

ƒ Is not a member of the labor union,
unless membership is mandatory
...

ƒ Operates a supermarket or grocery
store in the economy’s largest business city
...
1)
...

ƒ Is subject to collective bargaining
agreements if such agreements
cover more than 50% of the food
retail sector and they apply even to
firms that are not party to them
...


Rigidity of employment
Rigidity of employment covers 3
areas: difficulty of hiring, rigidity of
hours and difficulty of redundancy
(table 14
...

Difficulty of hiring covers 4 areas:
(i) whether fixed-term contracts are
prohibited for permanent tasks; (ii)
the maximum cumulative duration
of fixed-term contracts;
(iii) the
minimum wage for a cashier, age 19,
with 1 year of work experience; and (iv)
the ratio of the minimum wage to the
average value added per worker
...
15 What do the labor
market regulation indicators include?
Rigidity of employment
Difficulty of hiring
Whether fixed-term contracts are prohibited for
permanent tasks
Maximum duration of fixed-term contracts,
including renewals
Minimum wage applicable to the worker assumed
in the case study (US$/month)
Ratio of minimum wage to value added per
worker
Rigidity of hours
Whether 50-hour workweeks are permitted for 2
months in a year due to an increase in workload
Allowed maximum length of the workweek in
days and hours, including overtime
Premium for night work (% of hourly pay)
Premium for work on a weekly rest day (% of
hourly pay)
Whether there are restrictions on night work and
weekly holiday work
Paid annual vacation days for workers with 1
year of tenure, 5 years of tenure and 10 years
of tenure
Difficulty of redundancy
Length of the maximum probationary period (in
months) for permanent employees
Whether redundancy is allowed as grounds for
termination
Whether third-party notification is required for
termination of a redundant worker or group of
workers
Whether third-party approval is required for
termination of a redundant worker or group of
workers
Whether employer is obligated to reassign or
retrain and to follow priority rules for redundancy
and reemployment
Redundancy cost (weeks of salary)
Notice requirements, severance payments and
penalties due when terminating a redundant
worker, expressed in weeks of salary
Social protection schemes and benefits
Whether an unemployment protection scheme
exists
Whether the law requires employers to provide
health insurance for permanent employees
Labor disputes

Rigidity of hours covers 7 areas: (i)
whether the workweek can extend to
50 hours or more (including overtime)
2 months in a year to respond to a
seasonal increase in workload; (ii) the
maximum number of days allowed in
the workweek; (iii) the premium for

Availability of courts or court sections
specializing in labor disputes

night work (as a percentage of hourly
pay); (iv) the premium for work on
a weekly rest day (as a percentage
of hourly pay); (v) whether there are

143

144

DOING BUSINESS 2015

restrictions on night work; (vi) whether
there are restrictions on weekly holiday
work; and (vii) the average paid annual leave for workers with 1 year of
tenure, 5 years of tenure and 10 years
of tenure
...


Redundancy cost
Redundancy cost measures the cost
of advance notice requirements, severance payments and penalties due
when terminating a redundant worker,
expressed in weeks of salary
...
One month is recorded as
4 and 1/3 weeks
...


Labor disputes
Doing Business assesses the mechanisms available to resolve labor disputes
...

The data details on labor market regulation can be found for each economy at
http://www
...
org
...
The methodology was developed by Botero and others (2004)
...


NOTES
1
...

2
...

3
...

4
...

5
...
The previous methodology assigned a
point if more than 2 years of historical data
were distributed
...

6
...
The previous methodology assigned
a point if borrowers have the right by law
to access their data in the largest credit
bureau or registry in the economy
...
This component is new in Doing Business
2015
...
This component is new in Doing Business
2015
...
This question is usually regulated by stock
exchange or securities laws
...

10
...
Doing Business does not measure
director liability in the event of fraud
...
This component is revised in Doing Business
2015; it combines 2 previously separate
components
...
This component is new in Doing Business
2015
...
This component is new in Doing Business
2015
...
PwC refers to the network of member firms
of PricewaterhouseCoopers International
Limited (PwCIL) or, as the context requires,
individual member firms of the PwC
network
...
PwCIL
does not provide any services to clients
...
No member firm is responsible or
liable for the acts 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
...
The nonlinear distance to frontier for the
total tax rate is equal to the distance to
frontier for the total tax rate to the power of
0
...

16
...
Use
of 40-foot containers is growing, but this
year’s research confirms that 20-foot
containers are still common in the majority
of economies
...

For the remaining 12% of economies no
data on the use of the 2 types of containers
were available
...

17
...

18
...
doingbusiness
...

19
...


DATA NOTES

TABLE 14A
...
Rep
...

Costa Rica
Côte d’Ivoire
Croatia
Cyprus
Czech Republic
Denmark
Djibouti
Dominica
Dominican Republic
Ecuador
Egypt, Arab Rep
...
John’s
Buenos Aires
Yerevan
Sydney
Vienna
Baku
Nassau
Manama
Dhaka, Chittagong
Bridgetown
Minsk
Brussels
Belize City
Cotonou
Thimphu
La Paz
Sarajevo
Gaborone
São Paulo, Rio de Janeiro
Bandar Seri Begawan
Sofia
Ouagadougou
Bujumbura
Praia
Phnom Penh
Douala
Toronto
Bangui
N’Djamena
Santiago
Shanghai, Beijing
Bogotá
Moroni
Kinshasa
Brazzaville
San José
Abidjan
Zagreb
Nicosia
Prague
Copenhagen
Djibouti Ville
Roseau
Santo Domingo
Quito
Cairo
San Salvador
Malabo
Asmara
Tallinn
Addis Ababa
Suva
Helsinki
Paris
Libreville
Banjul
Tbilisi
Berlin
Accra

Economy
Greece
Grenada
Guatemala
Guinea
Guinea-Bissau
Guyana
Haiti
Honduras
Hong Kong SAR, China
Hungary
Iceland
India
Indonesia
Iran, Islamic Rep
...

Kosovo
Kuwait
Kyrgyz Republic
Lao PDR
Latvia
Lebanon
Lesotho
Liberia
Libya
Lithuania
Luxembourg
Macedonia, FYR
Madagascar
Malawi
Malaysia
Maldives
Mali
Malta
Marshall Islands
Mauritania
Mauritius
Mexico
Micronesia, Fed
...

Moldova
Mongolia
Montenegro
Morocco
Mozambique
Myanmar
Namibia
Nepal
Netherlands
New Zealand
Nicaragua
Niger
Nigeria
Norway
Oman

City or cities
Athens
St
...
S
...
Kitts and Nevis
St
...
Vincent and the Grenadines
Sudan
Suriname
Swaziland
Sweden
Switzerland
Syrian Arab Republic
Taiwan, China
Tajikistan
Tanzania
Thailand
Timor-Leste
Togo
Tonga
Trinidad and Tobago
Tunisia
Turkey
Uganda
Ukraine
United Arab Emirates
United Kingdom
United States
Uruguay
Uzbekistan
Vanuatu
Venezuela, RB
Vietnam
West Bank and Gaza
Yemen, Rep
...
Petersburg
Kigali
Apia
San Marino
São Tomé
Riyadh
Dakar
Belgrade
Victoria
Freetown
Singapore
Bratislava
Ljubljana
Honiara
Johannesburg
Juba
Madrid
Colombo
Basseterre
Castries
Kingstown
Khartoum
Paramaribo
Mbabane
Stockholm
Zurich
Damascus
Taipei
Dushanbe
Dar es Salaam
Bangkok
Dili
Lomé
Nuku’alofa
Port of Spain
Tunis
Istanbul
Kampala
Kiev
Dubai
London
New York City, Los Angeles
Montevideo
Tashkent
Port-Vila
Caracas
Ho Chi Minh City
Ramallah
Sana’a
Lusaka
Harare

145

Doing Business 2015
Going Beyond Efficiency

Distance to frontier and ease
of doing business ranking

T

his year’s report presents results for 2 aggregate measures:
the distance to frontier score
and the ease of doing business ranking, which for the first time this year
is based on the distance to frontier
score
...
When compared across years,
the distance to frontier score shows
how much the regulatory environment
for local entrepreneurs in an economy
has changed over time in absolute
terms, while the ease of doing business
ranking can show only how much the
regulatory environment has changed
relative to that in other economies
...
For starting a business,
for example, Canada and New Zealand
have the smallest number of procedures required (1), and New Zealand the
shortest time to fulfill them (0
...

Slovenia has the lowest cost (0
...
1)
...
First, individual component
indicators are normalized to a common
unit where each of the 31 component
indicators y (except for the total tax
rate) is rescaled using the linear transformation (worst − y)/(worst − frontier)
...
For legal indicators such as those on getting credit
or protecting minority investors, the
frontier is set at the highest possible
value
...
For the time to pay taxes the
frontier is defined as the lowest time
recorded among all economies that
levy the 3 major taxes: profit tax, labor
taxes and mandatory contributions,
and value added tax (VAT) or sales tax
...
The base year for the
deflator is 2013 for all economies
...
The definition of outliers
is based on the distribution for each
component indicator
...
No outlier was removed for component indicators bound
by definition or construction, including
legal index scores (such as the depth
of credit information index, extent of
conflict of interest regulation index and
strength of insolvency framework index) and the recovery rate (figure 15
...


TABLE 15
...
5

100b

0
...
0b

0
...
0b

5

30a

Dealing with construction permits
Procedures (number)

Hong Kong SAR, China

Time (days)

Singapore

26

373b

Cost (% of warehouse value)

Qatar

0
...
0b

3

9a

18

248b

0
...
0b

Getting electricity
Procedures (number)

Germany; Korea, Rep
...


Cost (% of income per capita)

Japan

Registering property

An economy’s distance to frontier
score is indicated on a scale from 0 to
100, where 0 represents the worst performance and 100 the frontier
...
However,
indicator ranking calculations and the

Georgia; Norway;
Portugal; Sweden

1

13a

Time (days)

Georgia; New Zealand;
Portugal

1

210b

Cost (% of property value)

Second, for each economy the scores
obtained for individual indicators are
aggregated through simple averaging
into one distance to frontier score, first
for each topic and then across all 10
topics: starting a business, dealing with
construction permits, getting electricity, registering property, getting credit,
protecting minority investors, paying
taxes, trading across borders, enforcing contracts and resolving insolvency
...
1 Thus Doing
Business uses the simplest method:
weighting all topics equally and, within
each topic, giving equal weight to each
of the topic components
...
0

15
...


10

0e

Extent of shareholder governance index (0–10)

No economy has
attained the frontier yet
...
1h

84
...
0

5,000
...
4

6,000
...
1 What is the frontier in regulatory practice? (continued)
Topic and indicator

Who sets the frontier

Frontier

Worst
performance

Enforcing contracts

TABLE 15
...
1

89
...
9

0
...


a
...

b
...

c
...
0
...
In 11 other economies it also takes only 3 procedures to get an electricity connection
...
Worst performance refers to the worst value recorded
...
Twenty-two other economies also score 8 on the depth of credit information index
...
Defined as the lowest time recorded among all economies in the Doing Business sample that levy the 3 major taxes: profit
tax, labor taxes and mandatory contributions, and VAT or sales tax
...
Defined as the highest total tax rate among the 15% of economies with the lowest total tax rate in the Doing Business sample
...


ease of doing business ranking calculations are based on 2 decimals
...
And in
any given year the score measures
how far an economy is from the best
performance at that time
...
The
distance to frontier score obtained for
the total tax rate is transformed in a
nonlinear fashion before it enters the
distance to frontier score for paying
taxes
...
2)
...
2)
...
Instead,
it is mainly empirical in nature
...
In addition, it acknowledges the need of economies to collect
taxes from firms
...
Petersburg

30

United States

New York

60

Los Angeles

40

Source: United Nations, Department of Economic and
Social Affairs, Population Division, World Urbanization
Prospects, 2014 Revision, “File 12: Population of Urban
Agglomerations with 300,000 Inhabitants or More in
2014, by Country, 1950–2030 (thousands),” http://esa

...
org/unpd/wup/CD-ROM/Default
...


Calculation of scores for
economies with 2 cities covered
For each of the 11 economies for which
a second city was added in this year’s
report, the distance to frontier score is
calculated as the population-weighted
average of the distance to frontier
scores for the 2 cities covered (table
15
...
This is done for the aggregate
score, the score for each topic and the
scores for all the component indicators
for each topic
...
The distance to frontier
scores and associated rankings of an
economy can vary, sometimes significantly, across indicator sets
...
37,
and the coefficients between 2 sets of
indicators range from 0
...
60 (between protecting
minority investors and resolving insolvency)
...
3)
...
1 How are distance to frontier scores calculated for indicators?
Two examples
A time-and-motion topic: dealing with construction permits
Distance to frontier
score for procedures
100

Figure 2
...

The figure draws attention to economies with a particularly uneven performance by showing, for each economy,
the distance between the average of its
highest 3 distance to frontier scores and
the average of its lowest 3 across the 10
topics included in this year’s aggregate
distance to frontier score
...

Variation in performance across the
indicator sets is not at all unusual
...
Its
aggregate distance to frontier score is
76
...
Its score is 96
...
20 for trading across
borders
...
17 for
protecting minority investors and 45
...


Regulatory frontier

0

5

10

15
25
20
Procedures (number)

30

35

A legal topic: protecting minority investors
Distance to frontier score for extent
of shareholder governance index
100

Regulatory frontier

80

60

Best performance
(frontier):
10 points

40

20
Worst performance:
0 points
0

0

1

2

3
4
5
6
7
8
Extent of shareholder governance index (0–10)

9

10

Source: Doing Business database
...


Economies that improved the
most across 3 or more Doing
Business topics in 2013/14
Doing Business 2015 uses a simple
method to calculate which economies
improved the ease of doing business
the most
...


FIGURE 15
...
The improvement in
the distance to frontier score is used
to identify the top improvers because
this allows a focus on the absolute
improvement—in contrast with the relative improvement shown by a change in
rankings—that economies have made
in their regulatory environment for
business
...
8
...


that in 2013/14 implemented regulatory
reforms making it easier to do business
in 3 or more of the 10 topics included
in this year’s aggregate distance to
frontier score
...

Second, Doing Business sorts these
economies on the increase in their

The ease of doing business ranking
ranges from 1 to 189
...


TABLE 15
...
29

0
...
35

0
...
48

0
...
43

0
...
48

0
...
31

0
...
23

0
...
34

0
...
22

0
...
23

0
...
41

0
...
29

0
...
42

0
...
37

0
...
49

0
...
51

0
...
32

0
...
56

0
...
35

0
...
60

0
...
33

0
...
28

0
...


0
...


2
...


See Djankov, Manraj and others (2005)
...
An alternative to the
simple average method is to give different
weights to the topics, depending on which
are considered of more or less importance in
the context of a specific economy
...
Indicators for all
other topics are assigned equal weights
...


151

Doing Business 2015
Going Beyond Efficiency

Summaries of Doing Business
reforms in 2013/14
Doing Business reforms affecting all
sets of indicators included in this year’s
report, implemented from June 2013 to
June 2014
...


✘✔

Paying taxes
Albania made paying taxes more
costly for companies by increasing
the corporate income tax rate
...


Algeria
✔✔ Trading across borders

Algeria made trading across borders
easier by upgrading infrastructure at
the port of Algiers
...

✔✔ Dealing with construction permits

Albania made dealing with construction permits easier by resuming the
issuance of construction permits
and by consolidating the land permit
and construction permit into a single
construction development permit
...


Armenia
✔✔ Starting a business

Armenia made starting a business
easier by streamlining postregistration procedures
...


Austria
✔✔ Starting a business

Austria made starting a business
easier by reducing the minimum
capital requirement, which in turn
reduced the paid-in minimum capital

Reforms affecting the labor market regulation indicators are included here but do not affect the ranking on the ease of
doing business
...


ASYCUDA (Automated System for
Customs Data) World
...


Azerbaijan
✔✔ Starting a business

Azerbaijan made starting a business
easier by reducing the time to obtain
an electronic signature for online tax
registration
...
On the other
hand, it increased the ecological tax
rate and made bad debt provisions
nondeductible for purposes of the
corporate income tax
...

✔✔ Paying taxes

Azerbaijan made paying taxes easier for companies by introducing an
electronic system for filing and paying social insurance contributions
...


✔✔ Enforcing contracts

The Bahamas made enforcing
contracts easier by introducing new
rules of civil procedure focused on
streamlining and simplifying court
proceedings and ensuring less costly
resolution of disputes
...

✔✔ Getting credit

Bahrain improved access to credit
information by approving the credit
bureau’s collection of data on firms
...

✔✔ Enforcing contracts

Benin made enforcing contracts
easier by creating a commercial section within its court of first instance
...


Labor market regulation
Belgium increased the notice period
for redundancy dismissals
...

✔✔ Protecting minority investors

Benin strengthened minority investor protections by introducing
greater requirements for disclosure
of related-party transactions to the
board of directors and by making it
possible for shareholders to inspect
the documents pertaining to relatedparty transactions and to appoint
auditors to conduct an inspection of
such transactions
...


Brunei Darussalam
✔✔ Dealing with construction permits

Brunei Darussalam made dealing
with construction permits easier by
consolidating final inspections
...


Bulgaria
✔✔ Starting a business

Bulgaria made starting a business
easier by lowering registration fees
...


153

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DOING BUSINESS 2015

Cabo Verde
✔✔ Getting credit

Cabo Verde improved its credit information system by adopting a new
law providing for the establishment
of credit bureaus
...


Cameroon

Chad

description of assets granted as collateral, establishes clear priority rules
inside bankruptcy for secured creditors, sets out grounds for relief from
a stay of enforcement actions by
secured creditors during reorganization procedures and allows out-ofcourt enforcement of collateral
...


✘✔

✔✔ Getting credit

Cameroon improved its credit
information system by passing
regulations that provide for the
establishment and operation of a
credit registry database
...


Central African Republic
✔✔ Protecting minority investors

The Central African Republic
strengthened minority investor protections by introducing greater requirements for disclosure of relatedparty transactions to the board of
directors and by making it possible
for shareholders to inspect the documents pertaining to related-party
transactions and to appoint auditors
to conduct an inspection of such
transactions
...


China
✔✔ Starting a business

China made starting a business easier by eliminating both the minimum
capital requirement and the requirement to obtain a capital verification
report from an auditing firm
...


Comoros
✔✔ Protecting minority investors

The Comoros strengthened minority
investor protections by introducing
greater requirements for disclosure
of related-party transactions to the
board of directors and by making it
possible for shareholders to inspect
the documents pertaining to relatedparty transactions and to appoint
auditors to conduct an inspection of
such transactions
...
In addition,
China made paying taxes less costly
for companies in Shanghai by reducing the social security contribution
rate
...

✔✔ Getting credit

Colombia improved access to credit
by adopting a new secured transactions law that establishes a functional approach to secured transactions and a centralized, notice-based
collateral registry
...


Congo, Dem
...

✔✔ Starting a business

The Democratic Republic of Congo
made starting a business easier by
creating a one-stop shop
...


✔✔ Getting electricity

In the Democratic Republic of Congo
the utility in Kinshasa made getting
electricity easier by reducing the
number of approvals required for
new connections and reducing the
burden of the security deposit
...


SUMMARIES OF DOING BUSINESS REFORMS IN 2013/14

✔✔ Protecting minority investors

The Democratic Republic of Congo
strengthened minority investor protections by introducing greater requirements for disclosure of relatedparty transactions to the board of
directors and by making it possible
for shareholders to inspect the documents pertaining to related-party
transactions and to appoint auditors
to conduct an inspection of such
transactions
...
On the other
hand, it increased the rate for the
minimum lump-sum tax applied to
annual revenue
...

✔✔ Protecting minority investors

The Republic of Congo strengthened
minority investor protections by
introducing greater requirements for
disclosure of related-party transactions to the board of directors and by
making it possible for shareholders
to inspect the documents pertaining
to related-party transactions and
to appoint auditors to conduct an
inspection of such transactions
...


Costa Rica
✔✔ Getting electricity

Costa Rica reduced the time required
for getting electricity by improving
the coordination between different
departments at the utility
...


Côte d’Ivoire
✔✔ Starting a business

Côte d’Ivoire made starting a business easier by reducing the minimum capital requirement, lowering
registration fees and enabling the
one-stop shop to publish notices of
incorporation
...

✔✔ Getting credit

Côte d’Ivoire improved its credit
information system by introducing
regulations that govern the licensing
and operation of credit bureaus
...

✔✔ Trading across borders

Côte d’Ivoire made trading across
borders easier by simplifying the
processes for producing the inspection report and by reducing port and
terminal handling charges at the
port of Abidjan
...


Croatia made dealing with construction permits easier by reducing the
requirements and fees for building
permits and carrying out the final
building inspection more promptly
...
On the other
hand, it abolished the contribution to
the Croatian Chamber of Commerce
...


Labor market regulation
Croatia lifted the 3-year limit on
the duration of first-time fixed-term
contracts
...

✔✔ Paying taxes

Cyprus made paying taxes easier for
companies by reducing the number
of provisional tax installments for
corporate income tax
...

✔✔ Getting credit

The Czech Republic improved access
to credit by adopting a new legal
regime on secured transactions that

155

156

DOING BUSINESS 2015

allows the registration of receivables
at the collateral registry and permits out-of-court enforcement of
collateral
...


Denmark
✔✔ Starting a business

Ecuador
✔✔ Protecting minority investors

Ecuador strengthened minority
investor protections by introducing
greater requirements for disclosure
of related-party transactions as well
as a requirement that a potential
acquirer make a tender offer to all
shareholders upon acquiring voting
shares
...


Ecuador made trading across borders easier by upgrading to a new
electronic data interchange system
called ECUAPASS
...


✔✔ Dealing with construction permits

Djibouti made dealing with construction permits less time-consuming by
streamlining the review process for
building permits
...


✔✔ Getting credit

The Dominican Republic improved
its credit information system by
enacting a new law regulating the
protection of personal data and
the operation of credit reporting
institutions
...

✔✔ Trading across borders

The Dominican Republic made trading across borders easier by reducing
the number of documents required
for exports and imports
...


✔✔ Protecting minority investors

The Arab Republic of Egypt strengthened minority investor protections
by introducing additional requirements for approval of related-party
transactions and greater requirements for disclosure of such transactions to the stock exchange
...


Finland
Labor market regulation
Finland eliminated the requirement
to notify a third party before dismissing a redundant employee or
group of redundant employees
...


Gabon
✘✔

Registering property
Gabon made transferring property
more costly by increasing the property registration tax rate
...

✔✔ Paying taxes

Gabon made paying taxes easier for
companies by introducing an electronic system for filing and paying
VAT
...

✔✔ Protecting minority investors

The Gambia strengthened minority
investor protections by clarifying the
duties of directors and providing new
venues and remedies for minority
shareholders seeking redress for oppressive conduct
...


enhancing the electronic system for
filing and paying corporate income
tax and VAT and by reducing the
capital gains and corporate income
tax rates
...


Germany
✘✔

✘✔

Starting a business
Germany made starting a business
more difficult by increasing notary
fees
...


Ghana made dealing with construction permits less time-consuming by
streamlining the process to obtain a
building permit
...


Ghana made trading across borders
easier by upgrading infrastructure at
the port of Tema
...


✔✔ Enforcing contracts

Greece made enforcing contracts
easier by introducing an electronic
filing system for court users
...

✔✔ Paying taxes

Guatemala made paying taxes easier and less costly for companies by

✘✔

Hungary improved access to credit
by adopting a new legal regime
on secured transactions that
implements a functional approach
to secured transactions, extends security interests to the products and
proceeds of the original asset and
establishes a modern, notice-based
collateral registry
...


Iceland
✔✔ Starting a business

Iceland made starting a business
easier by offering faster online
procedures
...


Starting a business
Hungary made starting a business
more difficult by increasing the paidin minimum capital requirement
...


✔✔ Starting a business

Hungary

Guinea-Bissau

✔✔ Registering property

Guatemala

Hong Kong SAR, China, strengthened minority investor protections
by introducing requirements for
directors to provide more detailed
disclosure of conflicts of interest to
the other board members
...

✔✔ Protecting minority investors

Starting a business
Hong Kong SAR, China, made starting a business more difficult by
increasing the registration fee
...


✘✔

Guinea

Ghana
✔✔ Dealing with construction permits

Hong Kong SAR, China

✘✔

Registering property
Iceland made transferring property
more costly by increasing the stamp
duty rate
...
These changes apply to
both Delhi and Mumbai
...


Indonesia

✔✔ Paying taxes

Indonesia made paying taxes less
costly for companies by reducing
employers’ health insurance contribution rate
...


Labor market regulation
Italy relaxed the conditions for using
fixed-term contracts but reduced
their maximum duration to 36
months
...


✔✔ Getting electricity

The Islamic Republic of Iran made
getting electricity easier by eliminating the need for customers to obtain
an excavation permit for electricity
connection works
...

✔✔ Getting credit

Jamaica improved access to credit
by establishing credit bureaus and
by adopting a new secured transactions law that implements a
functional approach to secured
transactions, broadens the range
of assets that can be used as collateral, allows a general description
of assets granted as collateral and
establishes a modern, notice-based
collateral registry
...

✔✔ Getting credit

Ireland improved its credit information system by passing a new act
that provides for the establishment
and operation of a credit registry
...


Jamaica

The Islamic Republic of Iran made
starting a business easier by streamlining the name reservation and
company registration procedures
...
This
reform applies to both Jakarta and
Surabaya
...


✔✔ Starting a business

✔✔ Protecting minority investors

India strengthened minority investor protections by requiring greater
disclosure of conflicts of interest
by board members, increasing the
remedies available in case of prejudicial related-party transactions and
introducing additional safeguards
for shareholders of privately held
companies
...


Trading across borders
In Indonesia trading across borders
became more difficult because of
insufficient infrastructure at the
Tanjung Priok Port Jakarta
...


Iran, Islamic Rep
...


Israel
✘✔

Paying taxes
Israel made paying taxes more
costly for companies by increasing
the profit tax rate
...


Jordan
✔✔ Trading across borders

Jordan made trading across borders
easier by improving infrastructure at
the port of Aqaba
...


SUMMARIES OF DOING BUSINESS REFORMS IN 2013/14

✘✔

Paying taxes
Kazakhstan made paying taxes
more complicated for companies by
introducing a mandatory contribution to the National Chamber of
Entrepreneurs and by increasing the
vehicle and environmental taxes
...

✔✔ Enforcing contracts

Kazakhstan made enforcing contracts easier by introducing an electronic filing system for court users
...

Korea strengthened minority investor protections by increasing the
level of transparency expected
from companies on managerial
compensation
...


✘✔

Paying taxes
Kenya made paying taxes more
costly for companies by increasing
employers’ social security contribution rate
...


✔✔ Enforcing contracts

Kosovo made enforcing contracts
easier by introducing a private bailiff
system
...


Latvia

✔✔ Protecting minority investors

Kenya
Dealing with construction permits
Kenya made dealing with construction permits more costly by increasing the building permit fees
...


✔✔ Registering property

✘✔

✘✔

✔✔ Protecting minority investors

Korea, Rep
...


Paying taxes
Kiribati made paying taxes more
complicated for companies by introducing VAT
...


Kuwait
✘✔

Starting a business
Kuwait made starting a business
more difficult by increasing the commercial license fee
...


✔✔ Paying taxes

Latvia made paying taxes easier for
companies by simplifying the VAT
return, enhancing the electronic
system for filing corporate income
tax returns and reducing employers’
social security contribution rate
...

✔✔ Dealing with construction permits

Lithuania made dealing with construction permits easier by reducing
the time required for processing
building permit applications
...


Macedonia, FYR
✔✔ Starting a business

The former Yugoslav Republic of
Macedonia made starting a business

159

160

DOING BUSINESS 2015

easier by making online registration
free of charge
...

✔✔ Resolving insolvency

FYR Macedonia made resolving
insolvency easier by establishing a
framework for electronic auctions
of debtors’ assets, streamlining and
tightening the time frames for insolvency proceedings and the appeals
process and establishing a framework for out-of-court restructurings
...


board of directors and by making it
possible for shareholders to inspect
the documents pertaining to relatedparty transactions and to appoint
auditors to conduct an inspection of
such transactions
...


Mauritania
✔✔ Starting a business

Mauritania made starting a business easier by creating a one-stop
shop and eliminating the publication
requirement and the fee to obtain a
tax identification number
...

✔✔ Getting electricity

Malawi reduced the time required
to get electricity by engaging subcontractors to carry out external
connection works
...

✔✔ Protecting minority investors

Mali strengthened minority investor
protections by introducing greater
requirements for disclosure of
related-party transactions to the

Mauritania improved its credit
information system by lowering the
minimum threshold for loans to be
included in the registry’s database
...

✔✔ Enforcing contracts

Mauritius made enforcing contracts
easier by introducing an electronic
filing system for court users
...


Mexico
✔✔ Getting credit

Mexico improved access to credit by
amending its insolvency proceedings
law and establishing clear grounds
for relief from a stay of enforcement
actions by secured creditors during reorganization procedures
...

✔✔ Resolving insolvency

Mexico made resolving insolvency
easier by clarifying several rules,
shortening the time extensions
allowed during reorganization, facilitating the electronic submission of
documents and improving the legal
rights of creditors and other parties
involved in bankruptcy procedures
...


Moldova
✔✔ Starting a business

Moldova made starting a business
easier by abolishing the minimum
capital requirement
...

On the other hand, it increased the
minimum salary used for calculating the environmental tax liability
...


Mongolia
✔✔ Protecting minority investors

Mongolia strengthened minority
investor protections by introducing
a requirement for public joint stock
companies to publicly disclose
related-party transactions within 2
business days
...


SUMMARIES OF DOING BUSINESS REFORMS IN 2013/14

Montenegro
✔✔ Dealing with construction permits

Montenegro made dealing with
construction permits substantially
less costly by reducing the fee for
the provision of utilities on construction land and eliminating the fee for
obtaining urban development and
technical requirements from the
municipality
...


Mozambique
✔✔ Registering property

Mozambique
made
registering
property easier by streamlining
procedures at the land registry and
municipality
...


Myanmar
✔✔ Trading across borders

Myanmar made trading across borders easier by reducing the number
of documents required for exports
and imports
...


Nepal
✔✔ Dealing with construction permits

Pakistan
✔✔ Trading across borders

Nepal made dealing with construction permits easier by implementing
a new electronic building permit
system
...
This
reform applies to both Lahore and
Karachi
...


Palau
✔✔ Trading across borders

Palau made trading across borders
easier by improving the system for
calculating customs duties and
thereby reducing customs clearance
time
...

✔✔ Getting credit

Nicaragua improved access to credit
information by starting to provide
credit scores to banks and financial
institutions
...


Niger
✔✔ Protecting minority investors

Niger strengthened minority investor protections by introducing
greater requirements for disclosure
of related-party transactions to the
board of directors and by making it
possible for shareholders to inspect
the documents pertaining to relatedparty transactions and to appoint
auditors to conduct an inspection of
such transactions
...


Poland
✔✔ Getting electricity

Norway
✔✔ Starting a business

Norway made starting a business
easier by eliminating the requirement for limited liability companies
to have their balance sheet examined
by an external auditor if the capital
is paid in cash
...

✔✔ Registering property

Poland made transferring property
easier by introducing online procedures and reducing notary fees
...


161

162

DOING BUSINESS 2015

Portugal
✔✔ Paying taxes

Portugal made paying taxes less
costly for companies by reducing the
corporate income tax rate and introducing a reduced corporate tax rate
for a portion of the taxable profits
of qualifying small and medium-size
enterprises
...
This reform applies to
both Moscow and St
...

✔✔ Registering property

Russia made transferring property
easier by eliminating the requirement
for notarization and introducing
tighter time limits for completing the
property registration
...

Petersburg
...


Labor market regulation
Portugal reduced the amount of severance pay per year of service and
increased the maximum cumulative
duration of fixed-term contracts
...


Puerto Rico (U
...
)
✔✔ Dealing with construction permits

Puerto Rico (territory of the United
States) made dealing with construction permits easier by introducing
the option of hiring authorized private professionals to carry out the
fire safety recommendations and
issue the fire safety and environmental health certificates
...

✔✔ Getting credit

Rwanda improved access to credit
by establishing clear priority rules
outside bankruptcy for secured creditors and establishing clear grounds
for relief from a stay of enforcement
actions by secured creditors during
reorganization procedures
...


Russian Federation
✔✔ Starting a business

The Russian Federation made starting a business easier by eliminating
the requirement to deposit the charter
capital before company registration
as well as the requirement to notify
tax authorities of the opening of a

Starting a business
Rwanda made starting a business
more difficult by requiring companies to buy an electronic billing
machine from a certified supplier,
but also made it easier by launching
free mandatory online registration
...


San Marino
✔✔ Registering property

San Marino made transferring property easier by lowering the property
registration tax rate
...


Senegal
✔✔ Starting a business

Senegal made starting a business
easier by reducing the minimum
capital requirement
...

✔✔ Registering property

Senegal made transferring property
easier by replacing the requirement
for authorization from the tax
authority with a notification requirement and by creating a single step
for the property transfer at the land
registry
...

✔✔ Protecting minority investors

Senegal strengthened minority
investor protections by introducing
greater requirements for disclosure
of related-party transactions to the
board of directors; by making it possible for shareholders to inspect the
documents pertaining to relatedparty transactions and to appoint
auditors to conduct an inspection of
such transactions; and by making it
possible for shareholder plaintiffs to
request from the other party, and
from witnesses, documents relevant
to the subject matter of the claim
during the trial
...


Serbia
✘✔

Registering property
Serbia made transferring property
more difficult by eliminating the expedited procedure for registering a
property transfer
...
On the other hand,
it increased employers’ pension fund
contribution rate
...

✔✔ Resolving insolvency

The Seychelles made resolving
insolvency easier by introducing a
reorganization procedure, provisions
on the avoidance of undervalued
transactions and the possibility to
request post-commencement financing during the reorganization
...


by establishing provisions for an
increase in share capital through
debt-equity swaps
...


Solomon Islands
✔✔ Getting electricity

The Solomon Islands made getting
electricity easier by improving procurement practices for the materials
needed to establish new connections
...

✘✔

Paying taxes
Sierra Leone made paying taxes
more complicated for companies by
introducing a capital gains tax
...


Slovak Republic
✔✔ Starting a business

The Slovak Republic made starting a
business easier by reducing the time
needed to register with the district
court and eliminating the need (and
therefore the fee) for the verification
of signatures by a notary public
...


Slovenia
✔✔ Resolving insolvency

Slovenia made resolving insolvency
easier by introducing a simplified
reorganization procedure for small
companies and a preventive restructuring procedure for mediumsize and large ones, by allowing
creditors greater participation in
the management of the debtor and

South Africa
✘✔

Getting credit
South Africa made access to credit
information more difficult by introducing regulations requiring credit
bureaus to remove negative credit
information from their databases,
such as adverse information on
consumer behavior or enforcement
action accumulated on a consumer’s
record before April 1, 2014
...


Spain
✔✔ Starting a business

Spain made starting a business
easier by introducing an electronic
system linking several public agencies and thereby simplifying business registration
...

✔✔ Paying taxes

Spain made paying taxes less costly
for companies by reducing the statutory corporate income tax rate
...


Sri Lanka
✘✔

Paying taxes
Sri Lanka made paying taxes more
costly for companies by increasing the reduced corporate income
tax rate for qualifying small and
medium-size enterprises
...
Kitts and Nevis
✘✔

Dealing with construction permits
St
...


✔✔ Paying taxes

St
...


St
...
Lucia made trading across
borders easier by implementing the
ASYCUDA World electronic system
for the submission of export and
import documents and by reducing
the number of export documents
required
...


Swaziland
✔✔ Starting a business

Swaziland made starting a business
easier by shortening the notice and
objection period for obtaining a new
trade license
...


Sweden

Agency to issue the statistics code
for the new business at the time of
registration
...


✔✔ Dealing with construction permits

Tajikistan made dealing with construction permits less costly by
reducing the fee to obtain the architectural planning assignment
...


Switzerland made starting a business easier by introducing online
procedures
...


Switzerland strengthened minority
investor protections by increasing
the level of transparency required
from publicly traded companies
...


Taiwan, China
✔✔ Getting electricity

Taiwan, China, made getting electricity easier by eliminating site
inspections
...

✔✔ Paying taxes

Taiwan, China, made paying taxes
easier for companies by introducing
an electronic system for paying the
vehicle license tax
...

✘✔

Paying taxes
Tanzania made paying taxes more
complicated for companies by
introducing an excise tax on money
transfers
...


✔✔ Trading across borders

Tanzania made trading across borders easier by upgrading infrastructure at the port of Dar es Salaam
...


SUMMARIES OF DOING BUSINESS REFORMS IN 2013/14

Timor-Leste

✔✔ Resolving insolvency

Trinidad and Tobago made resolving
insolvency easier by introducing a
formal mechanism for rehabilitation,
establishing a public office responsible for the general administration
of insolvency proceedings and clarifying the rules on appointment of
trustees
...


Togo
✔✔ Starting a business

Togo made starting a business
easier by enabling the one-stop shop
to publish notices of incorporation
and eliminating the requirement to
obtain an economic operator card
...


✔✔ Registering property

Togo made transferring property
easier by lowering the property registration tax rate
...

✔✔ Paying taxes

Togo made paying taxes less costly
for companies by reducing the payroll tax rate
...

✔✔ Getting credit

Trinidad and Tobago improved
access to credit by adopting the
Bankruptcy and Insolvency Act,
which establishes clear grounds for
relief from a stay of enforcement
actions by secured creditors during
reorganization procedures as well as
a time limit for the stay
...


Turkey
✘✔

✘✔

Starting a business
Turkey made starting a business
more difficult by increasing the notary and company registration fees
...


✔✔ Enforcing contracts

Turkey made enforcing contracts
easier by introducing an electronic
filing system for court users
...

✔✔ Resolving insolvency

Uganda made resolving insolvency
easier by consolidating all provisions

related to corporate insolvency in
one law, establishing provisions on
the administration of companies (reorganization), clarifying standards
on the professional qualifications of
insolvency practitioners and introducing provisions allowing the avoidance of undervalued transactions
...
On the other hand, it
increased the environmental tax
...

✔✔ Getting credit

In the United Arab Emirates the
credit bureau improved access to
credit information by starting to
exchange credit information with a
utility
...


165

166

DOING BUSINESS 2015

United Kingdom

import and by making it possible to
submit documents electronically
...


Vanuatu
✔✔ Registering property

Vanuatu made property transfers
faster by digitizing its land registry
system and hiring and training new
staff
...
On the other hand, it increased
the landfill tax
...


Uruguay

Vietnam
✔✔ Getting credit

Vietnam improved its credit information system by establishing a
new credit bureau
...


✔✔ Paying taxes

Vietnam made paying taxes less
costly for companies by reducing the
corporate income tax rate
...


West Bank and Gaza
✔✔ Paying taxes

West Bank and Gaza made paying
taxes easier for companies by introducing the option to make either 1 or
4 advance payments of corporate
income tax
...

✔✔ Trading across borders

Uzbekistan made trading across
borders easier by reducing the
number of documents to export and

Starting a business
República Bolivariana de Venezuela
made starting a business more difficult by increasing incorporation
costs
...

✘✔

Trading across borders
In the Republic of Yemen trading
across borders became more difficult as a result of inefficient port
operation
...


✔✔ Getting credit

In Zambia the credit bureau improved access to credit information
by starting to exchange credit information with retailers and utilities
...
At
the same time, it also increased the
property transfer tax
...
54
3
7
15
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

185
30
...
4

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

ALBANIA

Ease of doing business rank (1–189)

141
61
...
9

68

✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

41
91
...
5
10
...
0

✔ Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

157
56
...
3

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

152
58
...
6

41
...
33
9
250
5
...
00
9
0
0
...
0

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

189
10
...
7
0
...
0

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

Ease of doing business rank (1–189)

South Asia
Overall distance to frontier (DTF) score (0–100)

79
74
...
8

Europe & Central Asia
Overall distance to frontier (DTF) score (0–100)

66
...
67
6
22
9
...
00
7
6
0
...
7

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

7
72
...
3
7
...
3

✘ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

131
64
...
7

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

700
30
...
21
10
86
5,045
10
91
5,680

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

183
31
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

159
23
...
0
25
26
...
8

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

95
72
...
14
39
525
34
...
37
2
...
5
12
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


168

DOING BUSINESS 2015
✔ Reform making it easier to do business

ALGERIA

154

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

141
74
...
0
24
...
72
17
204
0
...
98
5
180
1,318
...
69

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

157
50
...
1

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

171
10
...
0
2
...
00
5
...
0
4
...
63
27
451
72
...
85

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

164
46
...
0

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

174
56
...
5
20
...
47
10
203
0
...
00
1
0
0
...
8

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

157
56
...
0

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

94
51
...
3
5
...
2

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

144
60
...
0

Latin America & Caribbean
Overall distance to frontier (DTF) score (0–100)

62
...
44
7
25
10
...
28
8
21
10
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

30
82
...
5

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

151
25
...
0
0
...
46
4
42
122
...
50
6
...
8
6
...
51
57
207
41
...
2

✔ Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

131
64
...
89
45
630
21
...
74
2
...
7
6
...
5

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

167
40
...
22
46
1,296
44
...
00
NO PRACTICE
NO PRACTICE

0
...
1

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

89
73
...
26
44
351
22
...
19
3
...
1
6

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
48

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

119
60
...
5
6
...
54
21
341
3
...
00
2
8
100
...
2

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

104
72
...
4

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

62
57
...
0
6
...
8

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

170
44
...
3

Europe & Central Asia
Overall distance to frontier (DTF) score (0–100)

70
...
03
3
7
0
...
58
14
25
15
...
0

45
4
97
...
0
0
...
78
19
83
1
...
00
5
8
65
...
5

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

131
64
...
6

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

49
60
...
3
5
...
0

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

41
82
...
4

AUSTRALIA

Ease of doing business rank (1–189)

10

OECD high income
Overall distance to frontier (DTF) score (0–100)

80
...
87
5
4
...
2

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

7
96
...
5
0
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

19
84
...
5

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

4
90
...
0
0
...
59
5
75
8
...
67
6
...
3
5
...
48
11
105
47
...
4

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

128
65
...
88
36
590
20
...
10
2
...
6
9
...
0

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

110
68
...
33
49
570
14
...
14
1
...
2
9

GNI per capita (US$)
Population (m)

65,520
23
...
53
5
9
1,200
7
8
1,220

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

12
77
...
8

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

14
81
...
0
8
81
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


169

170

DOING BUSINESS 2015
✔ Reform making it easier to do business

AUSTRIA

Ease of doing business rank (1–189)
✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

21
101
83
...
3
13
...
42

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

35
81
...
5
4
...
25
11
192
1
...
00
5
7
53
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

24
87
...
6

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

32
63
...
3
7
...
3

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

72
76
...
0

Europe & Central Asia
Overall distance to frontier (DTF) score (0–100)

64
...
54
3
5
3
...
0

✔ Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

10
92
...
5
0
...
00
2
6
0
...
7

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

150
59
...
1

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

159
55
...
2

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)
✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

BAHAMAS, THE

51
59
...
7
5
...
9
33
83
...
8

Latin America & Caribbean
Overall distance to frontier (DTF) score (0–100)

61
...
22
7
122
12
...
81
14
178
1
...
00
6
0
0
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

50
81
...
2

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

141
43
...
0
3
...
3

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

31
84
...
1

Ease of doing business rank (1–189)
Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

✘ Dealing with construction permits (rank)

97
95
84
...
5
10
...
0

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

48,590
8
...
66
3
10
1,150
4
9
1,215

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

5
81
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

16
78
...
1
10
82
...
4

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

166
42
...
02
40
277
18
...
02
1
...
3
7

GNI per capita (US$)
Population (m)
Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)
✔ Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)
Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

23,489
0
...
36
5
19
1,005
5
13
1,770
125
51
...
9
60
52
...
0
12
63
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


COUNTRY TABLES
✔ Reform making it easier to do business

BAHRAIN

Ease of doing business rank (1–189)

53

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

131
76
...
8
192
...
48
11
60
0
...
26
5
90
47
...
00

✔ Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

17
88
...
7

✔ Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

104
40
...
3
0
...
36
9
19
...
8
0
...
90
13
...
2
2
...
32
9
428
...
1

106

8
93
...
5

South Asia
Overall distance to frontier (DTF) score (0–100)

46
...
34
8
244
7
...
00
6
0
0
...
9

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

43
60
...
3
5
...
1

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

Ease of doing business rank (1–189)

104
50
...
7
5
...
0

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

BANGLADESH

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

83
73
...
5

Latin America & Caribbean
Overall distance to frontier (DTF) score (0–100)

60
...
95
6
118
5
...
36
8
18
7
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

147
61
...
2

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

116
35
...
0
0
...
51
7
87
64
...
83
3
...
8
3
...
99
27
237
34
...
3

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

64
77
...
33
48
635
14
...
24
2
...
6
7

GNI per capita (US$)
Population (m)

900
156
...
36
6
28
...
6
1,515

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

188
20
...
8

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

147
29
...
0
8
25
...
3

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

38
83
...
61
38
1,340
19
...
09
1
...
1
12
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


171

172

DOING BUSINESS 2015
✔ Reform making it easier to do business

BELARUS

Ease of doing business rank (1–189)

57

Europe & Central Asia
Overall distance to frontier (DTF) score (0–100)

68
...
67
2
4
0
...
88
5
9
0
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

51
78
...
8

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

104
40
...
0
64
...
90
7
131
364
...
67
5
...
3
5
...
29
7
183
52
...
11

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

171
42
...
7

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

14
94
...
0
18
...
68
10
212
1
...
00
4
5
0
...
4

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

99
72
...
3

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

40
61
...
0
5
...
2

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

81
74
...
8

Latin America & Caribbean
Overall distance to frontier (DTF) score (0–100)

58
...
61
8
59
4
...
38
9
43
41
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

69
75
...
9

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

160
20
...
0
0
...
62
5
66
319
...
83
4
...
8
3
...
17
29
147
31
...
5

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

145
59
...
70
29
275
23
...
18
3
...
3
9

GNI per capita (US$)
Population (m)

45,210
11
...
55
4
9
1,240
4
8
1,400

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

10
77
...
7

✘ Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

11
83
...
9
4
89
...
5

GNI per capita (US$)
Population (m)

4,660
0
...
17
5
17
1,355
7
19
1,580

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

170
37
...
5

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

71
47
...
0
23
54
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


COUNTRY TABLES
✔ Reform making it easier to do business

BENIN

Ease of doing business rank (1–189)
✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)
Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)
Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

151
117
80
...
8
6
...
87
13
111
3
...
12
5
90
14,654
...
10

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

165
46
...
7

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

116
35
...
0
10
...
17
4
...
5
4
...
02
55
270
63
...
47

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

86
68
...
0

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

92
85
...
4
0
...
51
21
150
1
...
00
4
6
18
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

72
78
...
5

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

104
50
...
0
6
...
0

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

86
73
...
7

Latin America & Caribbean
Overall distance to frontier (DTF) score (0–100)

49
...
55
7
91
4
...
07
15
49
64
...
6

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

129
64
...
1

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

116
35
...
0
15
...
33
8
42
829
...
83
4
...
2
4
...
18
42
1,025
83
...
3

✔ Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

121
66
...
73
41
750
64
...
08
4
...
5
9

GNI per capita (US$)
Population (m)

2,460
0
...
10
9
38
2,230
11
37
2,330

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

74
61
...
1

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

189
0
...
0
0

2,550
10
...
79
7
22
1,440
6
28
1,745

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

111
54
...
2

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

96
42
...
8
15
38
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


173

174

DOING BUSINESS 2015
✔ Reform making it easier to do business

BOSNIA AND HERZEGOVINA

Ease of doing business rank (1–189)

107

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

147
72
...
6
28
...
55

Ease of doing business rank (1–189)

88
68
...
2

182
39
...
7

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

36
65
...
1
39
...
72
8
125
484
...
17
4
...
2
5
...
22
45
407
23
...
87

74

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

149
71
...
0
0
...
13
4
15
5
...
43
20
110
0
...
00
5
6
51
...
0

103
72
...
4

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

106
49
...
0
3
...
9

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

Ease of doing business rank (1–189)

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

67
77
...
3

120

Latin America & Caribbean
Overall distance to frontier (DTF) score (0–100)

58
...
18
13
...
7
2
...
37
11
...
6
4
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

174
48
...
2
426
...
4

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

89
45
...
6
52
...
20
4
53
...
6

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

35
62
...
7
6
...
3

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

177
41
...
0

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

4,740
3
...
76
8
16
1,260
8
13
1,200

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

95
57
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

34
66
...
3
9
35
...
0

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

157
52
...
02
28
625
39
...
17
1
...
7
7
...
4

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

123
66
...
4
2,323
8
17
2,323

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

118
53
...
6
731
16
...
52
4
...
8
13

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
26

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

162
48
...
6

53
77
...
1

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

89
45
...
0
56
...
22
5
56
38
...
50
4
...
8
4
...
12
15
101
10
...
0

✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

BULGARIA

Ease of doing business rank (1–189)
✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

38
49
91
...
8
0
...
40
27
93
15
...
80

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

57
75
...
9

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

101
69
...
5

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

23
70
...
0
62
...
78
6
130
320
...
33
6
...
3
6
...
18
13
454
27
...
06
3
13
44
...
5

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

75
74
...
5

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

177
40
...
1

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

48
...
79
4
67
12
...
00
6
0
0
...
0

✔ Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)
Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

122
45
...
7
4
...
6
152
58
...
3

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

39,943
0
...
87
5
19
705
5
15
770

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

139
47
...
6

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

88
44
...
5
4
47
...
3

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

57
78
...
27
38
564
23
...
75
3
...
2
15

GNI per capita (US$)
Population (m)

670
16
...
51
10
41
2,305
12
49
4,330

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

153
43
...
7

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

115
38
...
0
21
18
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


175

176

DOING BUSINESS 2015
✔ Reform making it easier to do business

BURUNDI

152

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

18
94
...
4
0
...
16
14
99
10
...
27
5
158
16,367
...
00
7
10
14
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

114
67
...
1

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

133
63
...
2

51
...
38
5
23
3
...
00
2
0
0
...
9

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

94
51
...
3
4
...
2

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

Ease of doing business rank (1–189)

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

124
66
...
7

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

57
...
50
6
22
3
...
00
2
6
0
...
7

135

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

184
41
...
5
26
...
54
20
652
6
...
44
4
168
2,495
...
05
30
186
36
...
33

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

100
64
...
4

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

12
80
...
3
0
...
50
5
...
8
5
...
00
4
...
0
3
...
06
40
173
21
...
2

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

169
37
...
15
44
832
38
...
55
5
...
4
8
...
5

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

101
70
...
61
37
425
19
...
00

GNI per capita (US$)
Population (m)

NO PRACTICE
NO PRACTICE

0
...
1

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

124
65
...
79
44
483
103
...
02
6
...
2
13

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
41
5
15
34
...
4

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

166
52
...
9

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

52
80
...
3

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

49
...
00
5
86
19
...
00
6
1
0
...
4

✔ Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

117
46
...
0
4
...
7

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

CANADA

Ease of doing business rank (1–189)
Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

16
2
98
...
4
0
...
34
44
630
48
...
09

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

55
76
...
5
3
...
12
12
249
1
...
00
9
8
100
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

150
59
...
0

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

7
72
...
7
5
...
3

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

9
93
...
0

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

34
...
46
5
75
11
...
00
6
0
0
...
6

CENTRAL AFRICAN REPUBLIC
Ease of doing business rank (1–189)

187

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

187
34
...
0
607
...
83
15
200
4
...
27
7
102
17,232
...
17
4
...
5
4
...
47
56
483
73
...
3

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

160
49
...
11
42
800
46
...
42
2
...
4
9

52,200
35
...
07
3
8
1,680
3
10
1,680

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

65
63
...
3

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

6
89
...
8
7
87
...
5

GNI per capita (US$)
Population (m)

✘ Trading across borders (rank)

320
4
...
48
9
46
5,490
17
68
6,335

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

182
31
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

152
28
...
8
76
0
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


177

178

DOING BUSINESS 2015
✔ Reform making it easier to do business

CHAD

Ease of doing business rank (1–189)

185

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

185
39
...
6
201
...
09
10
207
5
...
64
6
67
7,677
...
25

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

166
45
...
2

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

131
30
...
0
2
...
50
4
...
5
4
...
54
54
732
63
...
24

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

45
78
...
5
1
...
83
7
5
...
7
0
...
13
13
152
0
...
00
4
6
8
...
7

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

49
81
...
1

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

56
58
...
7
5
...
8

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

29
84
...
9

East Asia & Pacific
Overall distance to frontier (DTF) score (0–100)

62
...
67
4
19
...
6

CHINA

Ease of doing business rank (1–189)
✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

90
128
77
...
4
0
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

179
43
...
3
7
...
00
4
6
0
...
2

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

124
66
...
5
143
...
4

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

132
45
...
0
4
...
5

✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

120
67
...
6

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

1,020
12
...
68
8
70
6,615
11
90
9,025

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

149
45
...
7

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

152
28
...
0
60
0
...
6

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

40
82
...
85
36
480
28
...
38
3
...
0
10

GNI per capita (US$)
Population (m)

6,560
1,357
...
68
8
21
823
5
24
800

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

35
68
...
8
16
...
31
1
...
0
11
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


COUNTRY TABLES
✔ Reform making it easier to do business

COLOMBIA

Ease of doing business rank (1–189)

34

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

84
86
...
5
0
...
45
10
73
7
...
20
5
105
504
...
33
6
16
2
...
00
12
7
87
...
0

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

✘ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

COMOROS

Ease of doing business rank (1–189)

159

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

173
57
...
0
226
...
92
11
113
1
...
46
3
120
2,127
...
53
7
16
30
...
0

✘ Dealing with construction permits (rank)

111
67
...
6

DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

✔ Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

175
43
...
7

10
71
...
0
6
...
2
146
59
...
4

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

49
...
83
4
30
10
...
00
6
0
0
...
0

✔ Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)
Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

CONGO, DEM
...


72
...
83
4
...
5
4
...
37
33
100
216
...
60

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

142
55
...
5

✔ Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

131
30
...
0
0
...
50
4
...
5
4
...
11
50
316
54
...
3

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

93
72
...
66
33
1,288
47
...
00
1
...
0
10

GNI per capita (US$)
Population (m)

880
0
...
33
9
31
1,295
8
24
1,295

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

177
33
...
4

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

GNI per capita (US$)
Population (m)

189
0
...
0
0

400
67
...
09
7
44
3,365
10
63
4,290

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

176
33
...
6

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

189
0
...
0
0

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...


Ease of doing business rank (1–189)

178

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

170
60
...
7
79
...
76
11
168
5
...
29
168
44
...
4
104
40
...
0
9
...
50
4
...
5
4
...
01
6
135
4,705
...
67
49
602
55
...
67

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

47
78
...
4

52
78
...
7

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

89
45
...
0
27
...
72
5
55
196
...
33
3
...
3
2
...
90
9
24
11
...
0

✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

CÔTE D’IVOIRE

Ease of doing business rank (1–189)

✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)
Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)
Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

147
44
91
...
0
3
...
50
23
347
1
...
24
8
55
2,824
...
27
23
163
58
...
26

✔ Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

124
60
...
6

✔ Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

131
30
...
0
3
...
50
4
...
5
4
...
73
63
270
51
...
4

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

181
15
...
11
44
560
53
...
75
3
...
9
9

GNI per capita (US$)
Population (m)

9,550
4
...
84
5
14
1,020
5
14
1,070

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

129
51
...
3

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

89
43
...
0
15
26
...
5

GNI per capita (US$)
Population (m)

1,380
20
...
54
9
25
1,390
13
32
1,960

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

72
61
...
7

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

85
44
...
2
18
31
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


COUNTRY TABLES
✔ Reform making it easier to do business

CROATIA

Ease of doing business rank (1–189)

65

Europe & Central Asia
Overall distance to frontier (DTF) score (0–100)

66
...
44
5
72
5
...
43
7
15
3
...
6

✔ Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

178
44
...
9

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

61
55
...
0
0
...
05
5
70
316
...
50
5
...
5
5
...
18
6
8
12
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

148
60
...
2

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

160
55
...
1

36
82
...
8

Europe & Central Asia
Overall distance to frontier (DTF) score (0–100)

66
...
83
6
8
10
...
58
9
19
8
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

139
62
...
3

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

123
66
...
8

61
55
...
8
0
...
33
6
...
0
6
...
53
29
146
...
2

OECD high income
Overall distance to frontier (DTF) score (0–100)

70
...
87
3
24
4
...
00
7
7
76
...
4

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

83
54
...
3
5
...
4

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

119
67
...
5

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

13,330
4
...
25
6
16
1,335
7
14
1,185

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

54
64
...
8

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

56
53
...
1
15
30
...
1

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

34
83
...
17
43
735
16
...
68
1
...
5
6

18,060
10
...
33
4
17
1,240
6
17
1,215
37
68
...
0
20
77
...
1
17
65
...
5

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
40
4
5
...
2
14
...
20

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

8
92
...
6

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

5
89
...
3

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

23
70
...
8
0
...
07
4
38
114
...
50
6
...
8
6
...
94
10
130
26
...
48

DJIBOUTI

Ease of doing business rank (1–189)
Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

155

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

DOMINICA

Ease of doing business rank (1–189)

146
61
...
4
176
42
...
8

97

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

154
51
...
8

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

180
5
...
0
0
...
17
2
...
5
3
...
89
7
14
175
...
0

75
75
...
3

Latin America & Caribbean
Overall distance to frontier (DTF) score (0–100)

61
...
86
5
42
13
...
27
5
12
15
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

43
78
...
1

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

131
30
...
0
0
...
67
5
61
483
...
33
6
...
0
5
...
49
37
117
37
...
6

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

7
92
...
79
35
410
23
...
59
1
...
5
12

GNI per capita (US$)
Population (m)

1,595
0
...
65
5
20
885
5
18
910

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

171
37
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

70
48
...
3
11
37
...
1

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

88
74
...
17
46
681
36
...
09
4
...
3
7

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
60
7
19
...
9
43
...
43

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

82
69
...
7

DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

96
70
...
0

✔ Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

119
67
...
9

✔ Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

✘ Dealing with construction permits (rank)

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

ECUADOR

Ease of doing business rank (1–189)

115

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

165
65
...
5
24
...
5

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

59
76
...
8

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

120
67
...
5

Latin America & Caribbean
Overall distance to frontier (DTF) score (0–100)

89
45
...
1
38
...
17
5
...
5
5
...
24
9
324
43
...
88

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

80
70
...
9

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

89
45
...
0
0
...
67
4
...
0
4
...


Ease of doing business rank (1–189)

112

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

73
88
...
2
0
...
06
20
179
1
...
31
7
54
304
...
84
8
654
33
...
54

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

84
69
...
7

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

71
50
...
8
5
...
17
4
...
2
4
...
84
29
392
45
...
4

✔ Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

24
85
...
87
34
460
40
...
75
3
...
3
6

GNI per capita (US$)
Population (m)

5,510
15
...
23
7
19
1,535
6
24
1,520

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

88
58
...
2

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

151
28
...
3
18
17
...
1

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

99
71
...
02
42
1,010
26
...
17
2
...
6
7

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
87
8
16
...
2
2
...
19
25
115
4
...
93

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

56
75
...
8

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

71
50
...
0
28
...
74
18
135
99
...
3

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

94
71
...
1

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

95
73
...
6

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

154
41
...
3
5
...
2

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

144
60
...
8

161
52
...
7

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

49
...
82
6
23
12
...
00
6
2
0
...
1

✔ Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

122
45
...
7
4
...
6

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

ERITREA

Ease of doing business rank (1–189)
Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

189
183
44
...
5
182
...
73
46
492
44
...
16

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

176
39
...
1

Dealing with construction permits (rank)
189
DTF score for dealing with construction permits (0–100)
0
...
33
4
...
0
3
...
49
30
216
83
...
28
5
59
3,078
...
00
0
0
0
...
0

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

3,720
6
...
01
7
13
1,045
7
10
1,035

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

82
60
...
2

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

79
46
...
5
12
33
...
8

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

143
59
...
23
40
475
19
...
00
NO PRACTICE
NO PRACTICE

0
...
3

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

172
32
...
70
39
490
22
...
00
NO PRACTICE
NO PRACTICE

0
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


COUNTRY TABLES
✔ Reform making it easier to do business

ESTONIA

Ease of doing business rank (1–189)

17

OECD high income
Overall distance to frontier (DTF) score (0–100)

78
...
88
3
17
...
4

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

26
93
...
5
1
...
6

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

20
84
...
3

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

23
70
...
2
0
...
27
4
111
169
...
33
5
...
0
5
...
93
7
81
49
...
31

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

104
64
...
1

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

165
15
...
0
0
...
67
2
...
0
4
...
11
30
306
31
...
15
9
15
89
...
4

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

28
82
...
2

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

FIJI

Ease of doing business rank (1–189)

82
76
...
6

81

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

160
67
...
5
0
...
89
15
141
0
...
90
64
74
...
0

75
77
...
9

71
50
...
9
0
...
50
5
...
8
4
...
73
38
195
31
...
3

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

6
92
...
91
35
425
21
...
92
3
...
3
14

GNI per capita (US$)
Population (m)

470
94
...
58
8
44
2,380
11
44
2,960

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

50
65
...
2

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

74
47
...
8
15
38
...
5

GNI per capita (US$)
Population (m)

4,430
0
...
04
8
19
790
9
22
753

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

59
64
...
9

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

91
43
...
8
10
46
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


185

186

DOING BUSINESS 2015
✔ Reform making it easier to do business

FINLAND

Ease of doing business rank (1–189)

9

OECD high income
Overall distance to frontier (DTF) score (0–100)

80
...
58
3
32
4
...
10
3
14
1
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

33
81
...
8

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

36
65
...
6
0
...
29
5
42
29
...
83
6
...
2
5
...
36
8
93
40
...
88

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

126
59
...
1

FRANCE

Ease of doing business rank (1–189)
✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

31
28
93
...
5
0
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

86
73
...
7

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

71
50
...
0
44
...
87
5
79
42
...
50
5
...
8
6
...
12
8
137
66
...
90
7
50
12
...
6

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

76
74
...
9

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

129
64
...
1

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

✘ Registering property (rank)

53
...
51
6
103
17
...
00
6
2
0
...
8

✔ Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

146
42
...
0
4
...
3

✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

154
57
...
6

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

47,110
5
...
10
4
9
615
5
7
625

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

17
75
...
3

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

1
93
...
9
4
90
...
5

GNI per capita (US$)
Population (m)

42,250
66
...
18
2
10
1,335
2
11
1,445

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

10
77
...
4

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

22
75
...
9
9
77
...
7

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

135
63
...
51
38
1,070
34
...
29
5
...
2
9

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
37
7
26
131
...
0
71
75
...
5
138
63
...
1

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

54
...
54
5
66
7
...
00
4
0
0
...
0

✔ Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

162
39
...
0
3
...
9

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

GEORGIA

Ease of doing business rank (1–189)

15

180
38
...
3

Europe & Central Asia
Overall distance to frontier (DTF) score (0–100)

79
...
88
1
1
0
...
73
2
2
3
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

3
91
...
5
0
...
00
9
8
56
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

37
84
...
8

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

43
60
...
3
4
...
1

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

38
82
...
4

OECD high income
Overall distance to frontier (DTF) score (0–100)

79
...
38
9
14
...
8
35
...
78
5
40
6
...
42
8
96
1
...
00
6
8
100
...
3

3
98
...
4

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

51
59
...
0
6
...
9

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

68
77
...
8

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

510
1
...
52
6
19
1,040
6
19
745

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

49
65
...
9

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

102
41
...
0
15
27
...
5

GNI per capita (US$)
Population (m)

3,570
4
...
02
4
9
1,355
4
10
1,595

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

23
71
...
9

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

122
36
...
0
10
38
...
6

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

18
87
...
74
31
394
14
...
78
1
...
4
15

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
73
8
14
19
...
8
106
69
...
0
71
78
...
0

61
52
90
...
2
0
...
24

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

43
79
...
1

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

36
65
...
1
0
...
33
6
...
0
5
...
53
32
224
33
...
70

✔ Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

116
61
...
9

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

88
72
...
6

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

71
50
...
5
0
...
67
6
62
69
...
50
5
...
2
5
...
30
8
193
49
...
35

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

128
59
...
4

GRENADA

Ease of doing business rank (1–189)

126

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

80
86
...
4
0
...
00
13
128
0
...
00
6
0
0
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

77
77
...
9

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

141
43
...
7
2
...
3

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

106
71
...
3

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

1,760
25
...
10
6
19
875
7
41
1,360

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

96
57
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

161
22
...
9
22
24
...
0
48
80
...
60
38
1,580
14
...
98
3
...
3
12

GNI per capita (US$)
Population (m)

7,460
0
...
22
4
9
1,300
6
9
2,170

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

144
46
...
6

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

189
0
...
0
0

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
72
6
18
...
8
18
...
88

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

65
74
...
8
12
80
...
7
19
...
18
11
158
7
...
28
4
39
514
...
44
6
8
82
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

159
55
...
6

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

154
57
...
6

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

174
31
...
3
3
...
2
54
80
...
9

47
...
14
6
44
8
...
00
6
0
0
...
0

✔ Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

162
39
...
3
4
...
9

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

GUINEA-BISSAU

Ease of doing business rank (1–189)

179

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

176
54
...
1
401
...
95
11
116
18
...
96
7
455
2,062
...
27
57
440
68
...
21

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

160
48
...
6

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

131
30
...
0
1
...
83
4
...
5
4
...
65
46
208
45
...
5

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

102
70
...
35
31
1,402
26
...
37
3
...
6
4

GNI per capita (US$)
Population (m)

460
11
...
25
7
36
915
8
31
1,480

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

133
49
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

119
37
...
8
8
17
...
7

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

119
67
...
54
40
1,715
25
...
00
NO PRACTICE
NO PRACTICE

0
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


189

190

DOING BUSINESS 2015
✔ Reform making it easier to do business

GUYANA

Ease of doing business rank (1–189)

123

Latin America & Caribbean
Overall distance to frontier (DTF) score (0–100)

57
...
08
6
75
4
...
62
8
19
11
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

38
80
...
6

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

165
15
...
0
0
...
21
8
109
442
...
17
5
...
5
4
...
69
35
256
32
...
18

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

175
39
...
1

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

171
10
...
0
1
...
00
3
...
0
2
...
87
47
184
40
...
61

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

81
70
...
7

DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

103
69
...
2

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

7
85
...
1
21
...
96
7
39
918
...
67
3
...
0
3
...
92
48
224
43
...
48
12
97
246
...
6

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

132
64
...
4

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

HONDURAS

Ease of doing business rank (1–189)
Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

✘ Dealing with construction permits (rank)

94
73
...
8

104
138
74
...
0
11
...
8

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

82
74
...
37
36
581
25
...
50
3
...
1
6

GNI per capita (US$)
Population (m)

810
10
...
98
8
28
1,200
9
26
1,555

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

89
58
...
6

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

189
0
...
0
0

GNI per capita (US$)
Population (m)

2,180
8
...
50
5
12
1,450
6
16
1,630

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

166
37
...
2

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

140
31
...
8
15
18
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


COUNTRY TABLES
✔ Reform making it easier to do business

HONG KONG SAR, CHINA

Ease of doing business rank (1–189)

✘ Starting a business (rank)

3

DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

8
96
...
5
1
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

1
95
...
4

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

13
91
...
4

East Asia & Pacific
Overall distance to frontier (DTF) score (0–100)

84
...
19
5
35
...
7

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

23
70
...
1
0
...
04
4
5
8
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

103
69
...
2

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

162
55
...
5

ICELAND

✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

12
31
92
...
4
9
...
51
3
78
22
...
80

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

52
78
...
5
5
...
83
9
...
2
8
...
00
10
5
74
...
0
110
47
...
0
5
...
8
88
73
...
0

80
...
03
3
3
...
6

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

56
77
...
5

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

52
60
...
0
0
...
81
4
22
12
...
00
6
...
3
6
...
86
26
140
29
...
2

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

2
95
...
32
26
360
21
...
06
0
...
2
9

GNI per capita (US$)
Population (m)

12,410
9
...
48
6
17
885
6
19
845

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

20
73
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

64
49
...
0
15
40
...
3

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

39
83
...
30
27
417
9
...
47
1
...
6
11
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


191

192

DOING BUSINESS 2015
✔ Reform making it easier to do business

INDIA

Ease of doing business rank (1–189)
✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)
Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)
✔ Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

142
158
68
...
9
28
...
2
111
...
89
25
...
9
28
...
06
7
105
...
7

South Asia
Overall distance to frontier (DTF) score (0–100)

53
...
40
7
47
7
...
00
6
7
22
...
0

✔ Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

7
72
...
7
7
...
3

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

INDONESIA

Ease of doing business rank (1–189)
✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)
Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)
✔ Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

156
55
...
7

East Asia & Pacific
Overall distance to frontier (DTF) score (0–100)

59
...
74
5
27
...
8

153
59
...
3

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

71
50
...
0
46
...
90
5
90
...
6

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

43
60
...
0
6
...
1

114
155
68
...
5
21
...
5

✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

IRAN, ISLAMIC REP
...
66
65
253
...
4

✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)
Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)
✔ Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

Middle East & North Africa
Overall distance to frontier (DTF) score (0–100)

56
...
78
9
35
10
...
72
15
318
...
3

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

89
45
...
8
45
...
22
6
77
865
...
67
4
...
3
4
...
78
20
344
44
...
37
6
12
3
...
0

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

1,570
1,252
...
47
7
17
...
1
1,462

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

186
25
...
6

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

137
32
...
3
9
25
...
9

✘ Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

62
77
...
28
40
471
115
...
75
1
...
7
9
...
4

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

148
56
...
35
40
505
17
...
38
4
...
5
7

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
36

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

109
62
...
2

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

142
74
...
2
12
...
65
8
119
0
...
95
4
77
228
...
50
4
...
8
4
...
09
13
312
27
...
07

IRELAND

Ease of doing business rank (1–189)

13

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

19
94
...
3
0
...
61
10
150
9
...
84
5
85
83
...
00
1
0
0
...
0

✔ Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

50
78
...
5
2
...
00
7
7
100
...
0

Ease of doing business rank (1–189)

40

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

53
90
...
5
0
...
45
15
209
1
...
11
6
102
11
...
33
8
...
3
7
...
07
9
80
25
...
25

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

135
57
...
3

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

36
65
...
0
0
...
83
8
...
8
7
...
88
33
235
30
...
4

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

178
20
...
32
51
520
28
...
00

GNI per capita (US$)
Population (m)
Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)
✔ Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)
Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

GNI per capita (US$)
Population (m)

NO PRACTICE
NO PRACTICE

0
...
6
5
93
...
47
21
650
26
...
90
0
...
7
9
...
1

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

12
89
...
93
35
890
25
...
21
2
...
4
13
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


193

194

DOING BUSINESS 2015
✔ Reform making it easier to do business

ITALY

Ease of doing business rank (1–189)
✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

56
46
91
...
1
0
...
48

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

41
79
...
4

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

116
67
...
7

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

89
45
...
0
24
...
65
5
124
212
...
67
6
...
3
6
...
13
15
269
65
...
79

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

126
59
...
5

JAMAICA

Ease of doing business rank (1–189)
✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)
Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)
✔ Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

58
20
94
...
0
0
...
17
7
135
2
...
36
6
96
406
...
00
10
6
10
...
0
71
56
...
7
5
...
7

DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

JAPAN

Ease of doing business rank (1–189)

29

147
59
...
3

OECD high income
Overall distance to frontier (DTF) score (0–100)

74
...
33
6
13
5
...
21
8
10
...
5
0
...
30
12
197
0
...
00
4
6
100
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

28
86
...
4
97
...
0

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

35
62
...
0
5
...
3

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

122
67
...
3

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

34,400
59
...
44
3
19
1,195
3
18
1,145

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

147
45
...
1

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

29
71
...
8
22
62
...
7

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

115
68
...
74
35
655
45
...
29
1
...
2
6

GNI per capita (US$)
Population (m)

46,140
127
...
23
3
11
829
5
11
1,021

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

26
69
...
2

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

2
93
...
6
4
92
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


COUNTRY TABLES
✔ Reform making it easier to do business

JORDAN

Ease of doing business rank (1–189)

117

Middle East & North Africa
Overall distance to frontier (DTF) score (0–100)

58
...
45
7
21
7
...
61
7
12
21
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

126
66
...
5

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

185
0
...
0
2
...
95
5
50
315
...
67
3
...
0
4
...
19
25
151
29
...
19
6
10
0
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)
Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

Europe & Central Asia
Overall distance to frontier (DTF) score (0–100)

64
...
83
4
11
0
...
39
25
156
1
...
00
3
7
51
...
0

97
72
...
6

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

25
65
...
7
6
...
6

✘ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

KENYA

Ease of doing business rank (1–189)
Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

✘ Dealing with construction permits (rank)

DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)
Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

136
143
74
...
7
0
...
02
8
125
9
...
85
6
158
1,020
...
04
6
188
28
...
98

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

136
56
...
3

✔ Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)
Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

✘ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

116
35
...
9
0
...
83
4
...
5
4
...
49
30
201
...
1

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

4,950
6
...
92
5
12
825
7
15
1,235

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

114
54
...
2

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

145
30
...
0
20
27
...
0

✔ Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

185
7
...
33
36
370
22
...
45
1
...
3
9

GNI per capita (US$)
Population (m)

930
44
...
49
8
26
2,255
9
26
2,350

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

137
48
...
2

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

134
33
...
5
22
27
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


195

196

DOING BUSINESS 2015
✔ Reform making it easier to do business

KIRIBATI

Ease of doing business rank (1–189)

134

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

122
79
...
5
19
...
71
14
149
0
...
26
6
97
4,768
...
48

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

139
55
...
0

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

160
20
...
0
0
...
67
6
...
0
4
...


Ease of doing business rank (1–189)

5

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

17
94
...
5
0
...
89
10
29
4
...
83
3
18
41
...
03
7
120
32
...
40

✔ Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

79
70
...
1

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

36
65
...
0
0
...
67
7
...
3
6
...
76

✘ Registering property (rank)

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

34
81
...
3

135
63
...
7

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

23
70
...
0
22
...
34
7
46
822
...
50
5
...
2
5
...
33
5
11
1
...
0

25
86
...
4

63
77
...
3

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

2,620
0
...
76
6
20
870
6
21
910

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

60
64
...
8

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

189
0
...
0
0

25,920
50
...
45
3
8
670
3
7
695
4
81
...
3

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

5
90
...
5
4
83
...
5

GNI per capita (US$)
Population (m)

3,890
1
...
70
8
15
1,695
7
15
1,730
138
48
...
0
164
19
...
0
15
36
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


COUNTRY TABLES
✔ Reform making it easier to do business

KUWAIT

Ease of doing business rank (1–189)

✘ Starting a business (rank)

86

Middle East & North Africa
Overall distance to frontier (DTF) score (0–100)

63
...
10
8
47
0
...
30
12
31
1
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

98
70
...
6

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

116
35
...
0
0
...
13
7
42
42
...
83
5
...
5
6
...
48
12
98
12
...
74

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

6
93
...
3

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

36
65
...
2
0
...
50
6
...
8
6
...
15
52
210
29
...
45

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

77
71
...
1

KYRGYZ REPUBLIC

Ease of doing business rank (1–189)

102

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

9
96
...
4
0
...
80
10
141
2
...
64
7
159
1,872
...
95
6
92
5
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

107
68
...
6

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

128
65
...
4

✔ Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)
✔ Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)
Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

116
35
...
0
3
...
17
3
...
5
2
...
10
35
362
25
...
4

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

117
68
...
59
50
566
18
...
02
4
...
1
6

GNI per capita (US$)
Population (m)

1,200
5
...
70
9
63
4,760
11
73
6,000

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

56
64
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

157
24
...
0
15
19
...
5

GNI per capita (US$)
Population (m)

1,460
6
...
96
10
23
1,950
10
26
1,910

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

99
57
...
6

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

189
0
...
0
0

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
73

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

32
81
...
0

DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

36
92
...
5
3
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

47
78
...
3

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

23
70
...
0
76
...
58
5
108
308
...
00
5
...
3
6
...
19
7
193
35
...
61

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

106
63
...
9
116
35
...
0
20
...
80
5
9
73
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

164
54
...
4

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

57
80
...
2

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

106
49
...
0
4
...
9

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

40
82
...
9

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

56
...
36
4
43
8
...
00
5
0
0
...
0

LESOTHO

Ease of doing business rank (1–189)

128

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

108
82
...
4
0
...
79
10
179
13
...
17
5
...
5
4
...
20
5
114
1,647
...
72
32
324
13
...
0

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

28
85
...
59
27
469
23
...
42
1
...
2
12

GNI per capita (US$)
Population (m)

9,870
4
...
96
4
22
1,080
7
30
1,365

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

110
55
...
8

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

136
33
...
0
15
32
...
1

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

147
57
...
94
41
615
31
...
51
2
...
0
7

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
41
4
4
...
4
0
...
00
22
74
6
...
61
4
465
2,065
...
50
10
35
19
...
8

46
...
57
10
44
12
...
00
4
0
0
...
7

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

181
28
...
7
2
...
8

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

Ease of doing business rank (1–189)

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

77
74
...
5
33
...
35

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

189
0
...
00
NO PRACTICE
Procedures (number)
NO PRACTICE
Time (days)
NO PRACTICE
Cost (% of warehouse value)

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

185
0
...
0
0
...
50
2
...
5
1
...
25
19
889
31
...
31

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

9
92
...
5
0
...
10
4
118
206
...
22
3
3
...
7
0
...
27
11
91
0
...
00
6
8
97
...
8

105
71
...
5

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

78
55
...
0
5
...
5

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

44
81
...
6

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

410
4
...
40
10
15
1,320
12
29
1,320

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

174
35
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

GNI per capita (US$)
Population (m)

169
4
...
0
43
8
...
2

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

139
61
...
42
43
690
27
...
00

GNI per capita (US$)
Population (m)
Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)
✔ Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)
Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

NO PRACTICE
NO PRACTICE

0
...
0
21
87
...
85
31
300
23
...
47
2
...
6
8

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
60

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

137
56
...
5
10
...
47
6
18
...
0
22
...
22
11
157
0
...
00
3
0
0
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

42
83
...
1

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

117
46
...
3
5
...
7

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

20
88
...
2

Europe & Central Asia
Overall distance to frontier (DTF) score (0–100)

74
...
27
7
31
3
...
08
2
2
0
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

89
72
...
2

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

88
74
...
3

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)
✔ Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)
Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

MADAGASCAR

Ease of doing business rank (1–189)
Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)
✔ Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)
Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

163
37
92
...
5
0
...
68
13
123
20
...
00
6
7
83
...
4
21
66
...
7
6
...
7
7
94
...
4

49
...
72
6
74
10
...
00
1
0
0
...
2

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

87
53
...
7
5
...
3

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

189
16
...
3

65
77
...
1

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

71,810
0
...
58
5
8
1,425
4
7
1,420

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

2
85
...
7

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

62
51
...
0
15
44
...
1

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

85
74
...
31
38
604
28
...
93
1
...
1
13
...
9

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

109
68
...
91
38
871
42
...
43
2
...
7
9

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
20

✔ Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

MALAYSIA

Ease of doing business rank (1–189)

72
75
...
2
181
35
...
5

18

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

76
71
...
9

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

151
25
...
0
0
...
00
5
...
3
4
...
53
8
38
94
...
0

103
71
...
5
35
...
90
3
5
...
2
0
...
49
13
74
1
...
67
5
32
46
...
83
75
71
...
5
3
...
00
7
7
78
...
2
5
74
...
7
6
...
4

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

MALDIVES

Ease of doing business rank (1–189)

116

32
83
...
2

South Asia
Overall distance to frontier (DTF) score (0–100)

58
...
85
6
57
16
...
00
2
5
0
...
3

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

50
91
...
2
2
...
45
9
140
0
...
14
6
91
391
...
17
5
...
5
4
...
76
30
413
31
...
4

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

170
37
...
73
42
432
69
...
99
2
...
1
4

GNI per capita (US$)
Population (m)

10,400
29
...
94
4
11
525
4
8
560

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

29
69
...
3

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

36
65
...
0
10
81
...
3

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

132
63
...
13
41
665
16
...
12
1
...
9
2

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
92
5
11
78
...
7
97
70
...
1
132
63
...
8

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

52
...
63
5
29
12
...
00
6
0
0
...
6

✔ Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

146
42
...
0
4
...
3

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

MALTA

Ease of doing business rank (1–189)
✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

94
136
75
...
5
11
...
5

145
60
...
3

Middle East & North Africa
Overall distance to frontier (DTF) score (0–100)

62
...
86
7
15
5
...
39
15
167
2
...
00
2
0
0
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

114
69
...
2

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

51
59
...
7
6
...
9

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

26
85
...
6

East Asia & Pacific
Overall distance to frontier (DTF) score (0–100)

54
...
37
5
17
12
...
0

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

10
86
...
5

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

71
50
...
0
0
...
83
5
67
719
...
67
3
...
0
2
...
38
21
128
64
...
00
NO PRACTICE
NO PRACTICE
NO PRACTICE

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

670
15
...
33
6
26
2,440
11
34
4,540

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

128
51
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

108
40
...
6
18
22
...
4

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

43
81
...
27
40
505
35
...
78
3
...
6
7
...
1

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

68
76
...
41
36
476
27
...
19
2
...
1
0

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
83
7
9
19
...
8
77
74
...
5
169
48
...
4

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

44
...
57
4
49
4
...
47
5
6
2
...
0

171
10
...
0
4
...
33
3
...
0
3
...
71
49
734
71
...
81

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

98
66
...
6

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

117
67
...
7

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

36
65
...
0
71
...
74
4
84
277
...
00
7
...
7
6
...
92
8
152
24
...
53

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

110
62
...
8
63
...
1

MEXICO

Ease of doing business rank (1–189)

39

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

67
88
...
3
18
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

108
68
...
3
87
...
3

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

116
68
...
8
78
...
1

✔ Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)
Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)
Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

12
80
...
0
0
...
50
6
...
5
5
...
17
6
334
51
...
9

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

151
55
...
47
46
370
23
...
00
NO PRACTICE
NO PRACTICE

0
...
3
17
87
...
22
34
519
25
...
81
1
...
4
8
...
3

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

44
81
...
2
1,888

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

57
64
...
8
389
30
...
59
1
...
1
11
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


203

204

DOING BUSINESS 2015
✔ Reform making it easier to do business

MICRONESIA, FED
...


Ease of doing business rank (1–189)

145

East Asia & Pacific
Overall distance to frontier (DTF) score (0–100)

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

151
69
...
2
0
...
10
14
99
0
...
00
11
0
0
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

30
85
...
8

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

186
23
...
7
2
...
3

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

114
68
...
5

Europe & Central Asia
Overall distance to frontier (DTF) score (0–100)

66
...
16
5
6
4
...
0

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

53
...
00
NO PRACTICE
NO PRACTICE
NO PRACTICE

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

22
86
...
5
0
...
11
27
247
0
...
00
8
6
8
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

149
59
...
1

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

56
58
...
3
5
...
8

✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

MONGOLIA

Ease of doing business rank (1–189)

72

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

42
91
...
2
0
...
62
16
137
0
...
91
8
79
600
...
57
21
185
39
...
02

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

30
82
...
5
2
...
00
5
6
0
...
7

✔ Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

17
67
...
0
6
...
8

✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

84
73
...
4

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

3,430
0
...
42
5
30
1,045
6
31
1,045

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

162
40
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

118
37
...
3
38
3
...
5

GNI per capita (US$)
Population (m)

2,460
3
...
97
9
23
1,510
11
27
1,870

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

42
66
...
6

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

58
53
...
8
15
29
...
8

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

173
30
...
17
32
374
30
...
93
4
...
8
11

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
02

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

87
68
...
1

138
62
...
2

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

4
90
...
0
26
...
28
5
71
467
...
83
6
...
8
6
...
59
29
320
22
...
05
6
10
1
...
0

71

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

54
90
...
2
0
...
89
12
94
3
...
06

MOZAMBIQUE

Ease of doing business rank (1–189)

91
74
...
5

127

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

107
82
...
1
0
...
29
11
144
4
...
26
8
40
5
...
00
2
6
21
...
0

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

122
45
...
7
4
...
6

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

66
77
...
3

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

56
...
65
7
107
2,484
...
51
6
40
6
...
00
1
5
0
...
7

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

94
51
...
3
4
...
2

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

✔ Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

123
66
...
6

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

7,260
0
...
37
6
14
985
5
14
985

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

136
49
...
7

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

33
68
...
4
8
48
...
5

GNI per capita (US$)
Population (m)

3,030
33
...
64
4
10
595
6
14
970

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

81
60
...
2

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

113
38
...
5
18
27
...
5

GNI per capita (US$)
Population (m)

590
25
...
76
7
21
1,100
9
25
1,600

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

164
39
...
0

✔ Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

107
40
...
0
9
17
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


205

206

DOING BUSINESS 2015
✔ Reform making it easier to do business

MYANMAR

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)
Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)
Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

NAMIBIA

Ease of doing business rank (1–189)

177
189
22
...
9
6,190
...
93
13
128
8
...
78
5
91
2,801
...
55

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

151
52
...
2

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

171
10
...
0
0
...
17
2
...
8
2
...
64
31
154
...
7

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

62
...
85
8
52
13
...
67
10
66
13
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

25
83
...
5

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

61
55
...
3
0
...
97
6
37
391
...
33
5
...
0
5
...
01
7
17
32
...
0
91
71
...
4
85
76
...
9

South Asia
Overall distance to frontier (DTF) score (0–100)

60
...
08
3
5
4
...
00
7
0
1
...
0

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

71
56
...
3
6
...
7

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

NEPAL

Ease of doing business rank (1–189)

85
73
...
7

126
66
...
5

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

869
53
...
02
8
20
620
8
22
610

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

185
27
...
5

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

160
23
...
0
18
14
...
3

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

136
63
...
82
33
460
35
...
53
2
...
2
8
...
8

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

171
36
...
65
39
910
26
...
41
2
...
7
7

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
08
4
4
5
...
0

OECD high income
Overall distance to frontier (DTF) score (0–100)

75
...
02
5
2
...
1

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

100
70
...
8

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

71
50
...
4
0
...
40
5
117
33
...
67
4
...
7
5
...
76
9
123
39
...
91

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

2
97
...
1

NEW ZEALAND

Ease of doing business rank (1–189)

2

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

1
99
...
5
0
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

13
85
...
7

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

48
81
...
7

✔ Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

1
100
...
0
0
...
27
6
13
73
...
0
134
63
...
7

1
81
...
3
7
...
2

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

NICARAGUA

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

22
88
...
4

Latin America & Caribbean
Overall distance to frontier (DTF) score (0–100)

58
...
58
9
58
5
...
00
1
8
40
...
2

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

172
33
...
0
2
...
3

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

95
73
...
4

164
49
...
8

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

47,440
16
...
22
4
7
915
4
6
975

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

19
75
...
9

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

12
83
...
1
4
88
...
5

GNI per capita (US$)
Population (m)

40,481
4
...
41
4
10
870
6
9
825

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

9
77
...
2

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

28
71
...
3
4
83
...
5

GNI per capita (US$)
Population (m)

1,780
6
...
84
5
21
1,140
5
20
1,245

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

70
62
...
8

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

110
39
...
2
15
33
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


207

208

DOING BUSINESS 2015
✔ Reform making it easier to do business

NIGER

Ease of doing business rank (1–189)

168

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

177
54
...
7
492
...
90
12
130
8
...
65
4
115
6,497
...
63

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

95
66
...
0

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

131
30
...
0
1
...
50
4
...
5
4
...
13
8
...
8
31
...
0

155
57
...
8

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

47
...
56
12
...
6
18
...
00
17
105
...
4

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

52
60
...
8
0
...
37
9
257
...
0

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

62
57
...
0
5
...
8

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

179
39
...
9
32
...
40

NORWAY

Ease of doing business rank (1–189)
✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

6
22
94
...
9
5
...
12
1
3
2
...
05
10
122
...
6

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

61
55
...
0
0
...
44
4
66
11
...
00
7
...
0
7
...
80
4
83
40
...
8

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

179
19
...
95
39
545
52
...
01
5
...
7
9

GNI per capita (US$)
Population (m)

2,760
173
...
12
9
22
...
9
1,960

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

140
47
...
2
509
...
7

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

131
33
...
0
22
27
...
1

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

24
85
...
41
34
280
9
...
62
0
...
3
11
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


COUNTRY TABLES
✔ Reform making it easier to do business

OMAN

Ease of doing business rank (1–189)

66

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

123
79
...
4
206
...
39

49
78
...
7

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

116
35
...
0
20
...
76
6
62
48
...
83
5
...
8
4
...
91
14
68
23
...
64

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

114
61
...
6

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

131
30
...
5
7
...
67
6
...
3
6
...
16
2
16
3
...
46
47
594
32
...
50

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

21
86
...
3

128

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

116
80
...
6
0
...
07
10
249
...
5

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

PALAU

Ease of doing business rank (1–189)

146
60
...
3
1,353
...
83
8
28
3
...
8

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

66
75
...
8

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

71
50
...
0
0
...
91
5
125
115
...
67
2
...
0
2
...
65
11
142
75
...
6

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

60
78
...
67
51
598
13
...
02
4
...
7
6

GNI per capita (US$)
Population (m)

1,380
182
...
05
8
20
...
4
1,005

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

161
41
...
2
23
...
18
2
...
4
8

GNI per capita (US$)
Population (m)

10,970
0
...
49
5
26
720
9
30
680

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

127
51
...
3

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

167
16
...
0
23
30
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


209

210

DOING BUSINESS 2015
✔ Reform making it easier to do business

PANAMA

Ease of doing business rank (1–189)

52

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

38
91
...
4
0
...
97
15
101
2
...
39
5
35
9
...
22

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

61
74
...
5
2
...
00
7
8
63
...
0

Ease of doing business rank (1–189)

133

76
55
...
3
5
...
6

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

PAPUA NEW GUINEA

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

166
48
...
2

East Asia & Pacific
Overall distance to frontier (DTF) score (0–100)

55
...
03
4
72
5
...
03
6
53
19
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

141
62
...
1

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

165
15
...
6
0
...
27
4
66
54
...
67
6
...
3
5
...
50
32
207
39
...
50

PARAGUAY

Ease of doing business rank (1–189)

92

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

126
77
...
9
0
...
73
6
46
1
...
79
12
136
0
...
00
2
8
45
...
8

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

51
81
...
7

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

166
38
...
7
2
...
8

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

111
69
...
0

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

10,700
3
...
25
3
10
665
3
9
1,030

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

84
58
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

132
33
...
5
25
27
...
3

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

138
62
...
92
42
591
110
...
64
3
...
0
6

GNI per capita (US$)
Population (m)

4,040
6
...
92
7
29
1,850
9
30
2,275

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

90
58
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

106
40
...
9
9
20
...
5

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
11

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

26
83
...
5
3
...
10
6
26
9
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

87
72
...
5

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

12
80
...
0
33
...
67
5
100
325
...
67
7
...
3
6
...
43
9
293
36
...
08

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

108
62
...
3
104
40
...
3
0
...
23
16
34
16
...
6

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

124
66
...
2

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

16
90
...
6

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

154
41
...
0
4
...
2

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

127
66
...
5

OECD high income
Overall distance to frontier (DTF) score (0–100)

73
...
79
4
30
12
...
3

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

39
80
...
3

137
62
...
3

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

17
75
...
3
0
...
19
3
161
20
...
50
6
...
5
6
...
51
18
286
38
...
4

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

55
78
...
46
41
426
35
...
57
3
...
5
10

GNI per capita (US$)
Population (m)

3,270
98
...
23
6
15
755
7
15
915

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

124
52
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

50
56
...
7
32
21
...
5

GNI per capita (US$)
Population (m)

12,960
38
...
80
5
15
1,050
4
14
1,025

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

52
64
...
4

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

32
69
...
0
15
57
...
5

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
27
3
2
...
3
0
...
31
14
113
1
...
00
5
64
52
...
03

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

25
83
...
3

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

89
45
...
4
100
...
17
6
...
8
5
...
S
...
84
8
275
42
...
35

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

163
47
...
5
0
...
28
20
165
6
...
00
10
7
100
...
0

32
85
...
9

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

78
55
...
0
4
...
5

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

Ease of doing business rank (1–189)

133
63
...
0

Middle East & North Africa
Overall distance to frontier (DTF) score (0–100)

69
...
86
7
13
0
...
17
6
6
0
...
0

50

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

103
83
...
5
5
...
6

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

23
83
...
5
0
...
00
1
5
0
...
3

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

40
83
...
0

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

122
45
...
3
4
...
6

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

1
99
...
3

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)
Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)
✔ Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)
Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

GNI per capita (US$)
Population (m)

20,670
10
...
20
4
15
780
4
13
925
27
69
...
8
10
84
...
0
9
72
...
5

19,210
3
...
53
5
15
1,300
8
15
1,350

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

92
58
...
6

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

7
86
...
5
8
73
...
2

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

61
77
...
73
43
570
21
...
27
2
...
0
9

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
22

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

63
74
...
5

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

38
91
...
1
0
...
17
14
255
2
...
00
10
7
46
...
3

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

171
46
...
1

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

40
61
...
3
6
...
2

✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

RUSSIAN FEDERATION

Ease of doing business rank (1–189)

✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

62
34
92
...
4
11
...
2
0
...
09
14
159
43
...
66

✔ Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

12
91
...
1

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

156
56
...
8
238
...
9

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

61
55
...
6
0
...
89
5
...
1
321
...
83
5
...
2
5
...
63
7
168
48
...
47

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

15
89
...
1

RWANDA

Ease of doing business rank (1–189)

46

✘ Starting a business (rank)

112
81
...
5
52
...
0

✔ Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

34
81
...
1

DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

✔ Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

✔ Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

4
90
...
7
2
...
67
6
...
0
4
...
48
4
34
3,073
...
79
17
107
33
...
0

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

65
77
...
95
34
512
28
...
70
3
...
7
13
...
5

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

155
53
...
1
2,401
10
19
...
85
35
267
14
...
69
2
...
0
8
...
8

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

164
44
...
94
23
230
82
...
77
2
...
5
10

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
17

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

48
78
...
7

DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

57
77
...
0

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

151
25
...
0
0
...
10
4
34
735
...
67
6
...
7
5
...
10
37
224
18
...
28
4
9
9
...
0

93

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

132
76
...
0
29
...
44

SÃO TOMÉ AND PRÍNCIPE

✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

111
61
...
5
4
...
67
14
145
...
3

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

180
5
...
0
0
...
84
3
45
59
...
50
6
...
5
4
...
33
19
52
42
...
75

153
23
93
...
5
0
...
71
7
62
9
...
00
0
0
0
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

46
78
...
8

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

57
80
...
5

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

183
26
...
3
2
...
7

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

162
51
...
2

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

3,430
0
...
78
6
21
490
6
28
615

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

83
59
...
7

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

124
36
...
0
38
18
...
5

GNI per capita (US$)
Population (m)

57,301
0
...
27
4
15
1,900
4
13
1,890

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

33
68
...
9

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

111
39
...
3
5
46
...
5

GNI per capita (US$)
Population (m)

1,470
0
...
73
8
26
690
6
28
577

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

179
32
...
5

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

162
21
...
2
22
5
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


COUNTRY TABLES
✔ Reform making it easier to do business

SAUDI ARABIA

Ease of doing business rank (1–189)

49

Middle East & North Africa
Overall distance to frontier (DTF) score (0–100)

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

109
82
...
5
4
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

21
84
...
4

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

71
50
...
0
0
...
11
4
61
25
...
50
6
...
8
5
...
23
3
64
14
...
37

SENEGAL

Ease of doing business rank (1–189)

161

✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

90
85
...
8
19
...
85
13
200
7
...
99
20
87
...
0

SERBIA

Ease of doing business rank (1–189)

183
34
...
3

91

167
44
...
2

✔ Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

131
30
...
0
1
...
83
4
...
5
4
...
94
58
620
45
...
57

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

66
88
...
8
0
...
14
16
264
25
...
00
5
7
100
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

84
76
...
9

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

32
63
...
7
7
...
3

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

165
48
...
6

DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

72
71
...
7

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

26,200
28
...
01
6
13
1,285
8
17
1,309

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

108
55
...
5

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

163
21
...
8
22
28
...
1

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

79
75
...
53
43
740
36
...
86
3
...
5
9

GNI per capita (US$)
Population (m)

5,730
7
...
13
6
12
1,635
7
15
1,910

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

96
57
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

48
57
...
0
20
29
...
5

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
16

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

78
71
...
0

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

127
77
...
7
0
...
37
14
119
0
...
00
2
0
0
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

130
64
...
7

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

56
58
...
7
6
...
8

✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

SIERRA LEONE

Ease of doing business rank (1–189)

140

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

91
85
...
9
0
...
80
16
166
3
...
51
8
82
4,237
...
50
28
88
31
...
58

✔ Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

158
50
...
8

✔ Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

151
25
...
0
1
...
50
6
...
8
5
...
39
33
353
31
...
27

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

24
84
...
5
2
...
48
3
2
...
6
0
...
84
10
26
0
...
00
8
7
50
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

11
92
...
3

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

3
80
...
3
6
...
0

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

5
97
...
4

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)
Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

12,530
0
...
65
5
16
705
5
17
675

✔ Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

103
56
...
4

✔ Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

61
52
...
0
11
38
...
1

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

133
63
...
68
39
515
39
...
68
2
...
6
8

GNI per capita (US$)
Population (m)
Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)
✔ Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)
Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

54,040
5
...
47
3
6
460
3
4
440
1
89
...
8
19
77
...
8
3
89
...
5

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
02
7
11
...
5
19
...
19
10
286
0
...
71
5
128
56
...
83

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

11
91
...
5
0
...
00
7
6
65
...
8
100
50
...
7
5
...
1
100
71
...
6

OECD high income
Overall distance to frontier (DTF) score (0–100)

69
...
04
5
109
...
0

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

15
94
...
0
44
...
91
11
212
...
3

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

116
35
...
0
3
...
50
5
38
119
...
33
7
...
3
6
...
94
11
260
32
...
60
7
9
35
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

36
80
...
0

✔ Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

45
82
...
8

East Asia & Pacific
Overall distance to frontier (DTF) score (0–100)

63
...
84
10
86
...
7

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

71
50
...
0
0
...
50
6
...
2
5
...
42
34
80
32
...
4

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

71
76
...
68
33
545
30
...
93
4
...
4
13

GNI per capita (US$)
Population (m)

22,750
2
...
29
5
16
745
7
14
830

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

122
52
...
7

✔ Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

42
62
...
0
4
50
...
5

GNI per capita (US$)
Population (m)

1,610
0
...
24
7
22
840
5
20
785

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

150
44
...
9

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

139
31
...
0
38
24
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


217

218

DOING BUSINESS 2015
✔ Reform making it easier to do business

SOUTH AFRICA

Ease of doing business rank (1–189)

43

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

61
89
...
3
0
...
65
16
48
0
...
74
5
226
729
...
08

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

97
66
...
2

✘ Getting credit (rank)

186

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

178
53
...
4
0
...
41
23
124
8
...
68
6
468
3,236
...
08
6
13
4
...
8

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

17
67
...
0
5
...
8
19
88
...
8

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

35
...
63
9
50
15
...
00
2
0
0
...
0

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

173
32
...
7
3
...
3

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

Ease of doing business rank (1–189)

52
60
...
4
0
...
59
36
218
29
...
17

✔ Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

66
73
...
1
52
60
...
3
50
...
18
7
229
5
...
18
5
85
242
...
17
5
...
5
6
...
25
8
167
58
...
0

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

100
71
...
14
29
600
33
...
51
2
...
7
14
...
3

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

187
5
...
71
48
228
30
...
00

GNI per capita (US$)
Population (m)

NO PRACTICE
NO PRACTICE

0
...
6

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

30
84
...
65
40
510
18
...
89
1
...
3
12

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
36

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

131
58
...
1

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

104
83
...
7
0
...
50
12
169
0
...
00
3
6
44
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

100
72
...
6

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

51
59
...
0
5
...
9

✘ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

ST
...
00
47
167
55
...
00

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

170
43
...
3

DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

16
85
...
4

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

151
25
...
0
0
...
25
4
18
291
...
33
6
...
0
5
...
56
7
18
...
7
0
...
LUCIA

Ease of doing business rank (1–189)

100

137
62
...
8

Latin America & Caribbean
Overall distance to frontier (DTF) score (0–100)

61
...
38
9
17
7
...
24
5
15
17
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

39
79
...
7

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

151
25
...
0
0
...
95
5
19
191
...
33
6
...
0
4
...
71
32
110
34
...
5

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

69
76
...
96
40
1,318
22
...
81
1
...
4
8

13,460
0
...
22
4
13
805
7
12
2,615

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

116
53
...
5

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

GNI per capita (US$)
Population (m)

189
0
...
0
0

7,090
0
...
44
7
14
935
11
13
2,280

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

145
45
...
3

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

100
41
...
0
9
42
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


219

220

DOING BUSINESS 2015
✔ Reform making it easier to do business

ST
...
70
7
10
16
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

35
81
...
1

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

151
25
...
0
0
...
67
3
52
97
...
67
6
...
7
5
...
76
36
108
38
...
55

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

46
78
...
8

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

165
15
...
3
0
...
67
3
...
7
3
...
34
42
180
45
...
29

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

178
38
...
7

SUDAN

Ease of doing business rank (1–189)

160

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

139
74
...
1
0
...
81
15
270
4
...
30
5
70
4,386
...
05
13
84
106
...
3

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

60
...
11
7
38
11
...
13
10
223
0
...
00
2
0
0
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

69
78
...
1

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

171
34
...
3
4
...
4

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

71
76
...
9

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

6,580
0
...
05
5
12
585
6
13
1,425

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

101
57
...
3

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

189
0
...
0
0

GNI per capita (US$)
Population (m)

1,130
38
...
98
7
32
2,630
7
46
3,400

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

163
40
...
8

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

156
26
...
0
20
31
...
5

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

106
69
...
84
44
1,715
37
...
27
5
...
5
9
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


COUNTRY TABLES
✔ Reform making it easier to do business

SWAZILAND

Ease of doing business rank (1–189)
✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)
Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)
Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

110
145
73
...
3
0
...
78
13
96
2
...
81
6
137
1,039
...
77

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

129
58
...
1

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

61
55
...
1
0
...
50
4
...
2
4
...
30
3
16
0
...
8

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)
Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

OECD high income
Overall distance to frontier (DTF) score (0–100)

74
75
...
6

80
...
47
1
14
4
...
73
7
116
2
...
00
6
5
100
...
0

7
94
...
0

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

32
63
...
3
6
...
3

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

SWITZERLAND

✔ Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

35
83
...
4

OECD high income
Overall distance to frontier (DTF) score (0–100)

77
...
71
4
16
0
...
00
6
6
26
...
0

20
69
88
...
0
25
...
50
11
154
0
...
71
3
39
59
...
00
3
...
7
5
...
05
19
63
29
...
2

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

127
65
...
37
40
956
56
...
80
2
...
7
8

GNI per capita (US$)
Population (m)

59,130
9
...
06
3
9
725
3
6
735

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

21
72
...
2

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

17
78
...
0
9
76
...
1

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

22
86
...
20
32
390
24
...
10
3
...
6
12

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
51

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

140
55
...
8

Dealing with construction permits (rank)
189
DTF score for dealing with construction permits (0–100)
0
...
00
1
2
0
...
7

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

78
55
...
0
6
...
5

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

117
68
...
5

East Asia & Pacific
Overall distance to frontier (DTF) score (0–100)

78
...
19
3
4
6
...
23
7
13
14
...
1

76
77
...
5

19

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

15
94
...
2
0
...
20
10
93
0
...
94
3
24
45
...
00
4
39
23
...
0

✔ Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

168
52
...
9

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

178
38
...
1

52
60
...
9
0
...
17
6
...
2
6
...
90
11
221
34
...
57

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

70
72
...
7

✔ Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)
Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)
✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

116
35
...
0
0
...
33
6
...
0
5
...
06
31
209
80
...
8

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

146
58
...
17
55
872
29
...
15
4
...
0
5

GNI per capita (US$)
Population (m)

21,620
22
...
38
5
10
655
6
10
720

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

93
57
...
7

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

18
78
...
9
4
81
...
2

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

188
3
...
42
35
430
25
...
26
1
...
9
3

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
85
9
26
23
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

169
52
...
1

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

87
75
...
0

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

56
...
10
8
67
4
...
00
5
0
0
...
0
141
43
...
3
3
...
3

DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

Ease of doing business rank (1–189)
Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)
✔ Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)
Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

TIMOR-LESTE

Ease of doing business rank (1–189)
✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

East Asia & Pacific
Overall distance to frontier (DTF) score (0–100)

75
...
04
2
2
6
...
77
7
113
0
...
00
3
6
52
...
0

12
91
...
1

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

25
65
...
7
5
...
6

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

THAILAND

148
58
...
3

62
77
...
9

26
75
87
...
5
6
...
0

172
96
83
...
3
127
...
89
189
0
...
52
16
207
0
...
00
0
4
0
...
7

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

15
90
...
1

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

100
50
...
7
5
...
1

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

55
79
...
0

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

630
49
...
96
7
18
1,090
11
26
1,615

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

45
66
...
3

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

105
41
...
0
22
21
...
5

GNI per capita (US$)
Population (m)

5,370
67
...
57
5
14
595
5
13
760

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

25
70
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

45
58
...
7
36
42
...
5

GNI per capita (US$)
Population (m)

3,580
1
...
49
6
28
410
7
26
415

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

189
3
...
2

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

189
0
...
0
0

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
06
6
10
94
...
5
170
50
...
0

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

51
...
88
5
295
9
...
00
6
0
0
...
0

TONGA

Ease of doing business rank (1–189)

69

✔ Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

122
45
...
7
4
...
6

✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

134
63
...
5

163
50
...
3

East Asia & Pacific
Overall distance to frontier (DTF) score (0–100)

65
...
63
4
112
15
...
74
4
16
7
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

14
85
...
9

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

36
65
...
3
0
...
03
5
42
93
...
00
5
...
0
4
...
93
29
200
30
...
24

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

159
50
...
0

TRINIDAD AND TOBAGO

Ease of doing business rank (1–189)
✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

79
71
88
...
5
0
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

113
67
...
1

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

21
88
...
7

✔ Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

36
65
...
4
0
...
50
7
...
5
5
...
98
39
210
32
...
8

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

112
68
...
65
40
588
47
...
12
3
...
9
9

GNI per capita (US$)
Population (m)

4,490
0
...
49
6
22
515
6
25
500

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

48
65
...
5

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

133
33
...
7
22
27
...
3

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

76
75
...
27
42
1,340
33
...
97
2
...
1
11

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
35

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

71
72
...
1

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

100
83
...
2
0
...
19
17
93
2
...
00
2
5
0
...
2

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

38
84
...
7

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

78
55
...
7
5
...
5

✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

TURKEY

Ease of doing business rank (1–189)

✘ Starting a business (rank)

55

82
74
...
4

Europe & Central Asia
Overall distance to frontier (DTF) score (0–100)

68
...
38
6
6
4
...
86
7
6
...
4
12
...
10
18
169
3
...
00
3
6
0
...
6

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

34
85
...
3

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

13
69
...
0
6
...
9

✘ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

Ease of doing business rank (1–189)

150

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

166
63
...
4
0
...
88
15
154
11
...
48
6
132
11,004
...
11

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

125
59
...
6

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

131
30
...
9
0
...
50
5
...
5
4
...
80
11
226
40
...
32
31
209
36
...
9

DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

50
80
...
96
39
565
21
...
71
1
...
3
8
...
9
90
73
...
92
35
420
24
...
00
3
...
9
8

510
37
...
01
7
28
2,800
10
31
3,375

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

80
60
...
3

✔ Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

98
42
...
2
30
37
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


225

226

DOING BUSINESS 2015
✔ Reform making it easier to do business

UKRAINE

Ease of doing business rank (1–189)

96

Europe & Central Asia
Overall distance to frontier (DTF) score (0–100)

61
...
82
7
27
2
...
35
6
21
1
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

70
75
...
2

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

17
75
...
0
0
...
65
10
277
165
...
33
4
...
7
4
...
97
6
8
6
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)
Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

Middle East & North Africa
Overall distance to frontier (DTF) score (0–100)

108
70
...
9

76
...
66
2
2
0
...
22
10
44
0
...
00
2
7
28
...
8

4
97
...
2

✔ Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

43
60
...
3
4
...
1

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

UNITED KINGDOM

Ease of doing business rank (1–189)
✔ Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

8
45
91
...
3
0
...
44
4
12
14
...
96

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

68
72
...
5
4
...
06
9
105
1
...
00
7
8
100
...
0

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

70
78
...
1

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

4
78
...
3
7
...
8

✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

16
90
...
7

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

3,960
45
...
96
8
29
1,880
9
28
2,455

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

43
66
...
3

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

GNI per capita (US$)
Population (m)

142
31
...
9
42
8
...
5

38,620
9
...
46
3
7
665
5
7
625

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

121
52
...
5

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

92
43
...
2
20
28
...
1

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

15
88
...
08
29
437
39
...
04
1
...
6
11

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
22
6
5
...
2
0
...
98

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

29
82
...
4
15
...
4

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

41
78
...
8
78
...
0

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

2
95
...
0
0
...
52
4
...
6
25
...
83
8
...
8
6
...
84
10
...
8

Latin America & Caribbean
Overall distance to frontier (DTF) score (0–100)

63
...
57
8
66
7
...
68
5
6
...
4
0
...
69
21
251
0
...
00
4
8
100
...
6

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

39
84
...
8

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

110
47
...
0
4
...
8

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

140
62
...
8

Europe & Central Asia
Overall distance to frontier (DTF) score (0–100)

54
...
21
13
55
1
...
00
1
7
17
...
0

UZBEKISTAN

Ease of doing business rank (1–189)

141

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

65
89
...
5
3
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

149
60
...
7

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

145
60
...
1

✔ Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)
Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

100
50
...
3
4
...
1
118
68
...
5
42
...
1

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

16
88
...
4
1,289

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

41
67
...
6
420
30
...
12
1
...
4
15

GNI per capita (US$)
Population (m)

15,180
3
...
60
6
15
1,125
7
14
1,440

✔ Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

106
56
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

57
53
...
8
7
44
...
5

GNI per capita (US$)
Population (m)

1,900
30
...
56
11
54
5,090
13
104
6,452

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

28
69
...
5

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

77
46
...
0
10
39
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


227

228

DOING BUSINESS 2015
✔ Reform making it easier to do business

VANUATU

Ease of doing business rank (1–189)

76

Starting a business (rank)
DTF score for starting a business (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)
Minimum capital (% of income per capita)

137
75
...
2
0
...
92
12
55
8
...
60

✔ Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

91
66
...
0

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

36
65
...
8
0
...
17
5
...
5
4
...
76
5
122
1,229
...
79
31
120
8
...
41

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

102
64
...
5
104
40
...
7
0
...
23
17
144
49
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

152
59
...
2

Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

155
57
...
1

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

178
29
...
7
3
...
9

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

188
13
...
5

East Asia & Pacific
Overall distance to frontier (DTF) score (0–100)

64
...
44
4
57
0
...
68
10
34
5
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

22
83
...
7

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

135
63
...
8

✔ Getting credit (rank)
DTF score for getting credit (0–100)
Strength of legal rights index (0–12)
Depth of credit information index (0–8)
Credit bureau coverage (% of adults)
Credit registry coverage (% of adults)
Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)
✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

36
65
...
4
41
...
67
3
...
7
4
...
61
32
872
40
...
3

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

113
68
...
20
30
430
56
...
48
2
...
2
6

GNI per capita (US$)
Population (m)

12,550
30
...
55
8
56
3,490
9
82
3,695

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

79
60
...
7

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

165
19
...
0
38
6
...
7

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

75
75
...
89
36
400
29
...
27
5
...
6
10

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
53
9
44
86
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

173
48
...
6

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

83
76
...
4

Middle East & North Africa
Overall distance to frontier (DTF) score (0–100)

53
...
08
8
56
3
...
00
0
7
0
...
0

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

141
43
...
3
3
...
3

✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

YEMEN, REP
...
43
6
40
66
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

68
75
...
9

Middle East & North Africa
Overall distance to frontier (DTF) score (0–100)

51
80
...
3

54
...
74
4
110
3,492
...
63
5
6
...
9
0
...
45
10
208
3
...
54
6
117
837
...
17
6
19
1
...
00
0
0
0
...
2

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

162
39
...
3
3
...
9

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

Registering property (rank)
DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

135
63
...
3

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

59
...
75
5
45
13
...
00
7
7
7
...
0

DTF score for registering property (0–100)
Procedures (number)
Time (days)
Cost (% of property value)

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)
✔ Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

83
54
...
7
5
...
4
78
74
...
8

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

1,665
4
...
43
6
23
1,750
6
38
1,425

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

105
56
...
2

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

GNI per capita (US$)
Population (m)

✘ Trading across borders (rank)

189
0
...
0
0

1,330
24
...
54
6
29
1,065
9
27
1,560

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

85
58
...
0

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

154
27
...
0
15
22
...
5

Trading across borders (rank)
DTF score for trading across borders (0–100)
Documents to export (number)
Time to export (days)
Cost to export (US$ per container)
Documents to import (number)
Time to import (days)
Cost to import (US$ per container)

177
20
...
53
35
611
38
...
01
2
...
3
7

Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
42
9
90
114
...
0

Dealing with construction permits (rank)
DTF score for dealing with construction permits (0–100)
Procedures (number)
Time (days)
Cost (% of warehouse value)

176
47
...
7

Getting electricity (rank)
DTF score for getting electricity (0–100)
Procedures (number)
Time (days)
Cost (% of income per capita)

153
58
...
4

46
...
32
5
36
7
...
00
5
3
5
...
0

Protecting minority investors (rank)
DTF score for protecting minority investors (0–100)
Extent of conflict of interest regulation index (0–10)
Extent of shareholder governance index (0–10)
Strength of minority investor protection index (0–10)

87
53
...
7
6
...
3

Paying taxes (rank)
DTF score for paying taxes (0–100)
Payments (number per year)
Time (hours per year)
Total tax rate (% of profit)

Ease of doing business rank (1–189)

Sub-Saharan Africa
Overall distance to frontier (DTF) score (0–100)

143
61
...
8

✘ Change making it more difficult to do business

GNI per capita (US$)
Population (m)

820
14
...
40
7
53
4,265
8
71
6,160

Enforcing contracts (rank)
DTF score for enforcing contracts (0–100)
Procedures (number)
Time (days)
Cost (% of claim)

157
43
...
1

Resolving insolvency (rank)
DTF score for resolving insolvency (0–100)
Time (years)
Cost (% of estate)
Recovery rate (cents on the dollar)
Strength of insolvency framework index (0–16)

148
29
...
3
22
13
...
Most indicator sets refer to a case scenario in the largest business city of an economy, except for 11 economies for which the data are a population-weighted average
for the 2 largest business cities
...


Note: For resolving insolvency, an economy for which “no practice” is recorded for time and cost receives a score of 0 on the strength of insolvency framework index even if its legal framework includes provisions related to
insolvency proceedings (liquidation or reorganization)
...
See the data notes for more details
...
They are
needed to protect workers from
arbitrary or unfair treatment and to
ensure efficient contracting between
employers and workers
...

They benefit both workers and firms
...
2 That
impact can be negative where regulatory interventions are insufficient or
excessive, so finding the right balance
is essential
...

Consistent with the plateau effect,
regulations that are too loose or too
strict can be counterproductive, leading
to losses of employment in an economy
or to its missing out on job-supporting
agglomeration effects and knowledge
spillovers
...
This year it also covers additional areas of labor market regulation,
including social protection schemes
and benefits as well as labor disputes
...

2
...


Pierre and Scarpetta 2007
...

World Bank 2012
...
00

209
...
42

151
...
10

1,462
...
29

2,397
...
92

133
...
00

0
...
35

0
...
36

1
...
25

0
...
26

0
...
0

5
...
0

6
...
0

6
...
0

7
...
5

6
...
5

17

40

Premium for work on weekly rest
day (% of hourly pay)

50

25

0

100

0

100

100

100

100

150

Major restrictions
on night work?

Yes

Yes

Yes

Yes

No

No

No

No

No

Yes

No

No

No

Yes

No

No

No

No

No

No

Paid annual leave
(working days)d

20
...
0

22
...
0

12
...
0

20
...
0

25
...
0

Maximum length of probationary
period (months)e

6
...
0

6
...
0

3
...
0

3
...
0

1
...
0

Dismissal due to redundancy
allowed by law?

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Third-party notification if
1 worker is dismissed?

Yes

No

Yes

Yes

No

No

No

No

Yes

No

Third-party approval if
1 worker is dismissed?

No

No

No

Yes

No

No

No

No

No

No

Third-party notification if
9 workers are dismissed?

Yes

No

Yes

Yes

No

No

No

No

Yes

No

Third-party approval if
9 workers are dismissed?

Yes

No

No

Yes

No

No

No

No

No

No

Retraining or
reassignment?f

No

No

Yes

No

Yes

No

Yes

Yes

No

No

Priority rules for
redundancies?

No

No

Yes

Yes

Yes

No

No

No

Yes

Yes

Priority rules for
reemployment?

Rigidity of hours

Yes

Major restrictions
on weekly holiday work?

Difficulty of redundancy

Yes

Maximum working days
per week

Redundancy
cost

No

50-hour workweek
allowed?c

Difficulty of hiring

Afghanistan

LABOR MARKET REGULATION DATA

Research
questionsg

232

Yes

Yes

No

Yes

No

No

No

No

Yes

No

Notice period for redundancy
dismissal (weeks of salary)d

4
...
1

4
...
3

3
...
2

6
...
0

2
...
7

Severance pay for redundancy
dismissal (weeks of salary)d

17
...
7

13
...
7

12
...
1

5
...
7

0
...
0


...
33

0
...
00

0
...
50

166
...
12

384
...
30

66
...
25

0
...
00

0
...
29

0
...
41

0
...
52

0
...
0

6
...
0

6
...
0

6
...
0

6
...
0

6
...
7

30
...
0

17
...
3

18
...
0

10
...
0

15
...
0

3
...
0

3
...
a
...
0

0
...
0

2
...
0

Dismissal due to redundancy
allowed by law?

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Third-party notification if
1 worker is dismissed?

Yes

Yes

Yes

Yes

No

No

No

Yes

Yes

Yes

Third-party approval if
1 worker is dismissed?

No

No

No

No

No

No

No

No

No

No

Third-party notification if
9 workers are dismissed?

Yes

Yes

Yes

Yes

No

No

No

Yes

Yes

Yes

Third-party approval if
9 workers are dismissed?

No

No

No

No

No

No

No

No

No

No

Retraining or
reassignment?f

No

No

No

No

No

Yes

No

No

No

No

Priority rules for
redundancies?

No

No

Yes

Yes

No

Yes

No

No

Yes

No

Priority rules for
reemployment?

Rigidity of hours

No

Paid annual leave
(working days)d

Difficulty of redundancy

No

Major restrictions
on weekly holiday work?

Redundancy
cost

No

Maximum working days
per week

Research
questionsg

No

50-hour workweek
allowed?c

Difficulty of hiring

Bahamas, The

LABOR MARKET REGULATION DATA

No

No

Yes

Yes

Yes

No

No

No

Yes

No

Notice period for redundancy
dismissal (weeks of salary)d

2
...
3

4
...
3

2
...
7

19
...
7

4
...
3

Severance pay for redundancy
dismissal (weeks of salary)d

10
...
0

26
...
7

13
...
0

0
...
3

7
...
0

Unemployment protection
scheme?

Yes

Yes

No

No

Yes

Yes

Yes

No

No

No

Health insurance for permanent
employees?

No

Yes

No

No

No

Yes

Yes

No

No

No

Courts or court sections
specializing in labor disputes?

Yes

No

Yes

Yes

Yes

No

Yes

No

No

No

Fixed-term contracts prohibited
for permanent tasks?

233

DOING BUSINESS 2015

Bosnia and
Herzegovina

Botswana

Brazil
(São Paulo)

Brazil
(Rio de Janeiro)

Brunei Darussalam

Bulgaria

Burkina Faso

Burundi

Cabo Verde

No

Yes

Yes

No

No

No

No

Yes

Maximum length of fixed-term
contracts (months)a

24

24

No limit

24

24

No limit

36

No limit

No limit

60

Minimum wage for a full-time
worker (US$/month)b

164
...
26

96
...
80

484
...
00

233
...
42

2
...
08

Ratio of minimum wage to value
added per worker

0
...
67

0
...
31

0
...
00

0
...
59

0
...
28

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

6
...
0

6
...
0

6
...
0

6
...
0

6
...
0

Premium for night work
(% of hourly pay)

25

30

0

20

20

0

3

0

35

25

Premium for work on weekly rest
day (% of hourly pay)

100

20

100

100

100

50

0

0

0

100

Major restrictions
on night work?

No

No

No

Yes

Yes

No

Yes

No

No

No

No

No

No

No

No

No

No

Yes

No

No

Paid annual leave
(working days)d

21
...
0

15
...
0

26
...
3

20
...
0

21
...
0

Maximum length of probationary
period (months)e

3
...
0

3
...
0

3
...
a
...
0

2
...
0

2
...
a
...
a
...
a
...
a
...
a
...
a
...
a
...
a
...
0

4
...
6

6
...
0

4
...
3

8
...
4

Severance pay for redundancy
dismissal (weeks of salary)d

n
...


7
...
8

8
...
9

0
...
3

6
...
2

23
...
00

56
...
04

36
...
42

427
...
29

245
...
09

0
...
00

0
...
30

0
...
71

0
...
38

0
...
35

0
...
0

6
...
0

5
...
0

6
...
0

6
...
0

6
...
3

25
...
0

25
...
7

15
...
7

6
...
0

22
...
0

1
...
0

2
...
0

n
...


6
...
0

2
...
0

Dismissal due to redundancy
allowed by law?

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Third-party notification if
1 worker is dismissed?

No

Yes

No

Yes

Yes

Yes

Yes

Yes

No

Yes

Third-party approval if
1 worker is dismissed?

No

Yes

No

No

No

No

No

No

No

No

Third-party notification if
9 workers are dismissed?

Yes

Yes

No

Yes

Yes

Yes

Yes

Yes

No

Yes

Third-party approval if
9 workers are dismissed?

No

Yes

No

Yes

No

No

No

No

No

No

Retraining or
reassignment?f

No

No

No

No

No

No

Yes

Yes

No

No

Priority rules for
redundancies?

Yes

Yes

No

Yes

Yes

No

Yes

Yes

No

Yes

Priority rules for
reemployment?

Rigidity of hours

No

Paid annual leave
(working days)d

Difficulty of redundancy

No

Major restrictions
on weekly holiday work?

Redundancy
cost

No

Maximum working days
per week

Research
questionsg

Fixed-term contracts prohibited
for permanent tasks?

50-hour workweek
allowed?c

Difficulty of hiring

Cambodia

LABOR MARKET REGULATION DATA

Yes

Yes

No

Yes

Yes

No

Yes

Yes

No

Yes

Notice period for redundancy
dismissal (weeks of salary)d

7
...
6

5
...
3

7
...
3

4
...
3

0
...
0

Severance pay for redundancy
dismissal (weeks of salary)d

11
...
3

5
...
3

5
...
1

23
...
1

16
...
1

Unemployment protection
scheme?

No

No

Yes

No


...


Yes

Yes

Yes

Yes

No

Courts or court sections
specializing in labor disputes?

No

Yes

No

Yes


...


Costa Rica

Côte d’Ivoire

Croatia

Cyprus

Czech Republic

Denmark

Djibouti

Dominica

Yes

No

Yes

No

No

No

Yes

No

Maximum length of fixed-term
contracts (months)a

48

24

12

24

No limit

30

108

No limit

24

No limit

Minimum wage for a full-time
worker (US$/month)b

65
...
86

580
...
00

534
...
12

544
...
00

0
...
27

Ratio of minimum wage to value
added per worker

1
...
51

0
...
55

0
...
42

0
...
00

0
...
40

Yes

Yes

Yes

No

Yes

Yes

Yes

Yes

Yes

Yes

5
...
0

6
...
0

6
...
5

6
...
0

6
...
0

Premium for night work
(% of hourly pay)

25

0

0

38

10

0

10

0

0

0

Premium for work on weekly rest
day (% of hourly pay)

0

0

100

0

35

0

10

0

0

100

Major restrictions
on night work?

No

No

Yes

No

Yes

No

No

No

No

No

No

Yes

No

No

Yes

No

No

No

No

No

Paid annual leave
(working days)d

13
...
7

12
...
4

20
...
0

20
...
0

30
...
3

Maximum length of probationary
period (months)e

1
...
0

3
...
0

6
...
0

3
...
0

2
...
0

Dismissal due to redundancy
allowed by law?

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Third-party notification if
1 worker is dismissed?

Yes

Yes

No

No

Yes

Yes

No

No

Yes

No

Third-party approval if
1 worker is dismissed?

Yes

Yes

No

No

No

No

No

No

No

No

Third-party notification if
9 workers are dismissed?

Yes

Yes

No

Yes

Yes

Yes

No

No

Yes

No

Third-party approval if
9 workers are dismissed?

Yes

Yes

No

No

No

No

No

No

No

No

Retraining or
reassignment?f

No

No

No

No

Yes

Yes

No

No

No

No

Priority rules for
redundancies?

Yes

Yes

No

No

Yes

No

No

No

No

Yes

Priority rules for
reemployment?

Rigidity of hours

Yes

Major restrictions
on weekly holiday work?

Difficulty of redundancy

Yes

Maximum working days
per week

Redundancy
cost

Fixed-term contracts prohibited
for permanent tasks?

50-hour workweek
allowed?c

Difficulty of hiring

Congo, Dem
...


LABOR MARKET REGULATION DATA

Research
questionsg

236

Yes

Yes

No

Yes

Yes

Yes

No

No

Yes

Yes

Notice period for redundancy
dismissal (weeks of salary)d

10
...
7

4
...
8

7
...
7

8
...
0

4
...
8

Severance pay for redundancy
dismissal (weeks of salary)d

0
...
9

14
...
3

7
...
0

11
...
0

0
...
3

Unemployment protection
scheme?

No

No

No

No

Yes

Yes

Yes

Yes

No

No

Health insurance for permanent
employees?

Yes

No

No

No

Yes

No

No

No

Yes

No

Courts or court sections
specializing in labor disputes?

No

Yes

Yes

Yes

No

Yes

No

No

Yes

Yes

LABOR MARKET REGULATION DATA

Ecuador

Egypt, Arab Rep
...
71

388
...
00

243
...
17

0
...
92

0
...
77

2,287
...
40

0
...
00

0
...
38

0
...
21

0
...
60

0
...
5

5
...
0

6
...
0

6
...
0

6
...
0

6
...
0

12
...
0

11
...
0

19
...
0

18
...
0

30
...
0

3
...
0

1
...
0

3
...
0

1
...
0

6
...
0

0
...
1

0
...
3

3
...
6

8
...
3

10
...
2

31
...
7

22
...
3

12
...
3

10
...
3

0
...


Yes

Yes

No

No

Yes

Health insurance for permanent
employees?

Yes

Yes

Yes

No

Yes

No

No

No

No

Yes

Courts or court sections
specializing in labor disputes?

Yes

Yes

Yes

Yes

Yes

Yes

No

Yes

Yes

No

Fixed-term contracts prohibited
for permanent tasks?

237

DOING BUSINESS 2015

Gabon

Gambia, The

Georgia

Germany

Ghana

Greece

Grenada

Guatemala

Guinea

No

No

No

No

Yes

Yes

Yes

No

Maximum length of fixed-term
contracts (months)a

18

48

No limit

30

24

No limit

No limit

No limit

No limit

24

Minimum wage for a full-time
worker (US$/month)b

1,922
...
55

0
...
25

0
...
97

814
...
15

369
...
00

0
...
20

0
...
06

0
...
26

0
...
27

0
...
00

No

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

6
...
0

5
...
0

6
...
0

5
...
0

6
...
0

Premium for night work
(% of hourly pay)

20

0

0

0

0

0

25

0

0

20

Premium for work on weekly rest
day (% of hourly pay)

20

0

0

0

0

0

75

0

50

0

Major restrictions
on night work?

Yes

No

No

No

No

No

No

No

Yes

No

Yes

No

No

No

No

No

Yes

No

Yes

Yes

Paid annual leave
(working days)d

30
...
0

21
...
0

24
...
0

22
...
3

15
...
0

Maximum length of probationary
period (months)e

4
...
0

12
...
0

6
...
0

12
...
0

2
...
0

Dismissal due to redundancy
allowed by law?

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Third-party notification if
1 worker is dismissed?

No

Yes

Yes

No

Yes

Yes

No

No

No

Yes

Third-party approval if
1 worker is dismissed?

No

Yes

No

No

No

Yes

No

No

No

No

Third-party notification if
9 workers are dismissed?

Yes

Yes

Yes

No

Yes

Yes

Yes

No

No

Yes

Third-party approval if
9 workers are dismissed?

No

Yes

No

No

No

Yes

Yes

No

No

No

Retraining or
reassignment?f

Yes

No

No

No

Yes

No

No

No

No

No

Priority rules for
redundancies?

Yes

Yes

Yes

No

Yes

No

Yes

No

No

No

Priority rules for
reemployment?

Rigidity of hours

No

Major restrictions
on weekly holiday work?

Difficulty of redundancy

Yes

Maximum working days
per week

Redundancy
cost

Fixed-term contracts prohibited
for permanent tasks?

50-hour workweek
allowed?c

Difficulty of hiring

France

LABOR MARKET REGULATION DATA

Research
questionsg

238

Yes

Yes

Yes

No

No

No

No

No

No

No

Notice period for redundancy
dismissal (weeks of salary)d

7
...
4

26
...
3

10
...
6

0
...
2

0
...
1

Severance pay for redundancy
dismissal (weeks of salary)d

4
...
3

0
...
3

11
...
2

15
...
3

27
...
8

Unemployment protection
scheme?

Yes

No

No

No

Yes

No

Yes

No

No

No

Health insurance for permanent
employees?

Yes

No

No

No

Yes

No

Yes

No

No

Yes

Courts or court sections
specializing in labor disputes?

Yes

Yes

Yes

No

Yes

Yes

Yes

No

Yes

Yes

Ratio of minimum wage to value
added per worker

LABOR MARKET REGULATION DATA

Guyana

Haiti

Honduras

Hong Kong SAR, China

Hungary

Iceland

India
(Mumbai)

India
(Delhi)

Indonesia
(Jakarta)

Yes

No

No

No

No

No

Yes

Maximum length of fixed-term
contracts (months)a

12

No limit

No limit

24

No limit

60

24

No limit

No limit

36

Minimum wage for a full-time
worker (US$/month)b

0
...
41

154
...
04

794
...
74

1,783
...
37

134
...
17

Ratio of minimum wage to value
added per worker

0
...
32

1
...
51

0
...
30

0
...
63

0
...
55

Yes

Yes

Yes

Yes

Yes

No

Yes

Yes

Yes

Yes

6
...
0

6
...
0

6
...
0

6
...
0

6
...
0

Premium for night work
(% of hourly pay)

25

0

50

25

0

15

80

0

0

0

Premium for work on weekly rest
day (% of hourly pay)

50

100

50

100

0

50

80

0

0

0

Major restrictions
on night work?

No

No

No

Yes

No

No

No

Yes

Yes

No

No

No

No

No

No

No

No

Yes

No

No

21
...
0

13
...
7

10
...
3

24
...
0

15
...
0

Maximum length of probationary
period (months)e

3
...
0

0
...
0

1
...
0

3
...
0

3
...
0

Dismissal due to redundancy
allowed by law?

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Third-party notification if
1 worker is dismissed?

Yes

Yes

No

Yes

No

No

No

Yes

Yes

Yes

Third-party approval if
1 worker is dismissed?

Yes

No

No

Yes

No

No

No

No

No

Yes

Third-party notification if
9 workers are dismissed?

Yes

Yes

No

Yes

No

No

No

Yes

Yes

Yes

Third-party approval if
9 workers are dismissed?

Yes

No

No

Yes

No

No

No

No

No

Yes

Retraining or
reassignment?f

No

No

No

No

No

No

No

No

No

Yes

Priority rules for
redundancies?

Yes

No

No

Yes

No

No

No

Yes

Yes

No

Priority rules for
reemployment?

Rigidity of hours

No

Paid annual leave
(working days)d

Difficulty of redundancy

No

Major restrictions
on weekly holiday work?

Redundancy
cost

Yes

Maximum working days
per week

Research
questionsg

Fixed-term contracts prohibited
for permanent tasks?

50-hour workweek
allowed?c

Difficulty of hiring

Guinea-Bissau

LABOR MARKET REGULATION DATA

Yes

No

No

No

No

No

No

Yes

Yes

No

Notice period for redundancy
dismissal (weeks of salary)d

0
...
3

10
...
2

4
...
2

10
...
3

4
...
0

Severance pay for redundancy
dismissal (weeks of salary)d

26
...
3

0
...
1

1
...
2

0
...
4

11
...
8

Unemployment protection
scheme?

No

No

No

No

No

Yes

Yes

No

No

No

Health insurance for permanent
employees?

No

No


...


Iraq

Ireland

Israel

Italy

Jamaica

Japan
(Tokyo)

Japan
(Osaka)

Jordan

Yes

No

No

No

No

No

No

No

Maximum length of fixed-term
contracts (months)a

36

No limit

No limit

No limit

No limit

36

No limit

No limit

No limit

No limit

Minimum wage for a full-time
worker (US$/month)b

223
...
63

103
...
66

1,145
...
74

250
...
35

1,682
...
29

Ratio of minimum wage to value
added per worker

0
...
69

0
...
37

0
...
46

0
...
29

0
...
39

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

6
...
0

6
...
0

5
...
0

6
...
0

6
...
0

Premium for night work
(% of hourly pay)

0

35

0

0

14

15

0

25

25

0

Premium for work on weekly rest
day (% of hourly pay)

0

40

50

0

50

30

100

35

35

150

Major restrictions
on night work?

No

No

Yes

No

No

No

No

No

No

No

No

No

No

No

Yes

No

No

No

No

No

Paid annual leave
(working days)d

12
...
0

22
...
0

18
...
0

11
...
3

15
...
7

Maximum length of probationary
period (months)e

3
...
0

3
...
0

n
...


2
...
0

n
...


n
...


3
...
0

0
...
0

3
...
3

4
...
0

4
...
3

4
...
8

23
...
0

10
...
1

0
...
0

0
...
0

0
...


Yes

Yes

Yes

No

Yes

Yes


...


Courts or court sections
specializing in labor disputes?

Yes


...


Kosovo

Kuwait

Kyrgyz Republic

Lao PDR

Latvia

Lebanon

No

No

Yes

No

Yes

No

Maximum length of fixed-term
contracts (months)a

No limit

No limit

No limit

24

No limit

No limit

60

No limit

36

24

Minimum wage for a full-time
worker (US$/month)b

127
...
39

0
...
65

172
...
40

18
...
66

602
...
34

Ratio of minimum wage to value
added per worker

0
...
72

0
...
28

0
...
04

0
...
37

0
...
34

Yes

Yes

Yes

Yes

No

Yes

Yes

Yes

Yes

Yes

6
...
0

7
...
0

6
...
0

6
...
0

5
...
0

Premium for night work
(% of hourly pay)

50

0

0

50

30

0

50

15

50

0

Premium for work on weekly rest
day (% of hourly pay)

100

0

0

50

50

50

100

150

0

50

Major restrictions
on night work?

No

No

No

Yes

No

No

No

No

Yes

No

No

No

No

No

No

Yes

No

No

No

No

18
...
0

0
...
0

21
...
0

20
...
0

20
...
0

Maximum length of probationary
period (months)e

3
...
0

n
...


3
...
0

3
...
0

3
...
0

3
...
3

4
...
3

4
...
3

13
...
3

6
...
3

8
...
3

2
...
0

23
...
2

15
...
0

40
...
7

0
...


Yes

Yes

Yes

No

Health insurance for permanent
employees?

Yes

Yes

No

Yes

No


...


No

No

No

Yes

Fixed-term contracts prohibited
for permanent tasks?

241

DOING BUSINESS 2015

Liberia

Libya

Lithuania

Luxembourg

Macedonia, FYR

Madagascar

Malawi

Malaysia

Maldives

No

Yes

No

Yes

Yes

No

No

Maximum length of fixed-term
contracts (months)a

No limit

No limit

48

60

24

60

24

No limit

No limit

24

Minimum wage for a full-time
worker (US$/month)b

158
...
00

336
...
61

3,000
...
51

49
...
72

293
...
00

Ratio of minimum wage to value
added per worker

0
...
82

0
...
21

0
...
51

0
...
36

0
...
00

Yes

Yes

Yes

No

No

Yes

Yes

Yes

Yes

Yes

6
...
0

6
...
5

5
...
0

6
...
0

6
...
0

Premium for night work
(% of hourly pay)

0

0

0

50

0

35

30

0

0

0

Premium for work on weekly rest
day (% of hourly pay)

100

50

0

100

70

50

40

100

0

50

Major restrictions
on night work?

Yes

No

No

No

No

Yes

No

No

No

No

No

No

No

No

Yes

No

No

No

No

No

Paid annual leave
(working days)d

12
...
0

30
...
7

25
...
0

24
...
0

13
...
0

Maximum length of probationary
period (months)e

4
...
0

1
...
0

6
...
0

3
...
0

3
...
0

Dismissal due to redundancy
allowed by law?

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Third-party notification if
1 worker is dismissed?

No

Yes

Yes

No

Yes

No

No

Yes

No

No

Third-party approval if
1 worker is dismissed?

No

No

No

No

No

No

No

No

No

No

Third-party notification if
9 workers are dismissed?

No

Yes

Yes

No

Yes

No

Yes

Yes

Yes

No

Third-party approval if
9 workers are dismissed?

No

No

No

No

No

No

Yes

No

No

No

Retraining or
reassignment?f

No

No

No

Yes

No

No

No

No

No

No

Priority rules for
redundancies?

No

Yes

No

Yes

No

No

Yes

No

No

No

Priority rules for
reemployment?

Rigidity of hours

No

Major restrictions
on weekly holiday work?

Difficulty of redundancy

No

Maximum working days
per week

Redundancy
cost

No

50-hour workweek
allowed?c

Difficulty of hiring

Lesotho

LABOR MARKET REGULATION DATA

Research
questionsg

242

No

Yes

No

No

Yes

No

Yes

No

No

No

Notice period for redundancy
dismissal (weeks of salary)d

4
...
3

4
...
7

17
...
3

3
...
3

6
...
2

Severance pay for redundancy
dismissal (weeks of salary)d

10
...
3

11
...
9

4
...
7

8
...
3

17
...
0

Unemployment protection
scheme?

No

No

No

Yes

Yes

Yes

Yes


...


No

No

Courts or court sections
specializing in labor disputes?

Yes

Yes

Yes

No

Yes

No

Yes


...
Sts
...
20

952
...
63

105
...
90

174
...
50

357
...
72

125
...
56

0
...
77

0
...
22

0
...
14

0
...
39

0
...
0

6
...
0

6
...
0

6
...
0

7
...
0

5
...
0

24
...
0

18
...
0

12
...
0

0
...
0

16
...
0

6
...
0

1
...
0

1
...
0

n
...


0
...
0

Dismissal due to redundancy
allowed by law?

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Third-party notification if
1 worker is dismissed?

Yes

No

No

Yes

Yes

Yes

Yes

No

Yes

No

Third-party approval if
1 worker is dismissed?

No

No

No

No

No

Yes

Yes

No

No

No

Third-party notification if
9 workers are dismissed?

Yes

No

No

Yes

Yes

Yes

Yes

No

Yes

No

Third-party approval if
9 workers are dismissed?

No

No

No

No

No

Yes

Yes

No

No

No

Retraining or
reassignment?f

No

No

No

No

No

No

No

No

Yes

No

Priority rules for
redundancies?

Yes

Yes

No

Yes

No

Yes

Yes

No

Yes

No

Priority rules for
reemployment?

Rigidity of hours

No

Paid annual leave
(working days)d

Difficulty of redundancy

No

Major restrictions
on weekly holiday work?

Redundancy
cost

Yes

Maximum working days
per week

Research
questionsg

Fixed-term contracts prohibited
for permanent tasks?

50-hour workweek
allowed?c

Difficulty of hiring

Mali

LABOR MARKET REGULATION DATA

Yes

Yes

No

Yes

No

Yes

Yes

No

No

No

Notice period for redundancy
dismissal (weeks of salary)d

4
...
3

0
...
3

4
...
0

0
...
0

8
...
3

Severance pay for redundancy
dismissal (weeks of salary)d

9
...
0

0
...
1

6
...
0

22
...
0

13
...
3

Unemployment protection
scheme?

No

Yes

No

No

Yes

Yes

Yes

No

Yes

Yes

Health insurance for permanent
employees?

No

No

No

Yes

No

Yes

Yes

No

Yes

Yes

Courts or court sections
specializing in labor disputes?

Yes

Yes

No

Yes

Yes

Yes

Yes

No

Yes

Yes

243

DOING BUSINESS 2015

Morocco

Mozambique

Myanmar

Namibia

Nepal

Netherlands

New Zealand

Nicaragua

Niger

Yes

No

No

Yes

No

No

No

Yes

Maximum length of fixed-term
contracts (months)a

24

12

72

No limit

No limit

No limit

36

No limit

No limit

48

Minimum wage for a full-time
worker (US$/month)b

196
...
46

139
...
00

0
...
03

1,036
...
93

200
...
18

Ratio of minimum wage to value
added per worker

0
...
74

1
...
00

0
...
94

0
...
39

0
...
79

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

No

6
...
0

6
...
0

5
...
0

5
...
0

6
...
0

Premium for night work
(% of hourly pay)

40

0

25

0

6

0

0

0

0

38

Premium for work on weekly rest
day (% of hourly pay)

0

0

100

100

100

50

0

0

100

0

Major restrictions
on night work?

No

No

No

No

No

No

Yes

No

Yes

No

No

Yes

Yes

No

No

No

No

No

Yes

No

Paid annual leave
(working days)d

21
...
5

24
...
0

20
...
0

20
...
0

30
...
0

Maximum length of probationary
period (months)e

6
...
0

3
...
a
...
0

12
...
0

3
...
0

6
...
3

7
...
3

4
...
3

4
...
7

0
...
0

4
...
9

13
...
2

15
...
3

22
...
0

0
...
9

9
...


No

No

Yes

No

No


...
17

111
...
25

847
...
53

104
...
54

476
...
96

409
...
26

0
...
29

0
...
56

0
...
39

0
...
69

0
...
0

6
...
0

5
...
0

6
...
0

6
...
0

6
...
0

6
...
0

22
...
0

14
...
0

22
...
0

20
...
0

3
...
0

3
...
0

3
...
a
...
0

n
...


1
...
2

3
...
7

4
...
3

4
...
0

0
...
3

7
...
2

12
...
0

0
...
9

22
...
0

18
...
2

18
...


Yes

Fixed-term contracts prohibited
for permanent tasks?

245

DOING BUSINESS 2015

Philippines

Poland

Portugal

Puerto Rico (U
...
)

Qatar

Romania

Russian Federation
(Moscow)

Russian Federation
(St
...
86

304
...
52

754
...
43

0
...
28

390
...
56

0
...
34

0
...
35

0
...
51

0
...
23

0
...
17

0
...
0

6
...
5

6
...
0

6
...
0

6
...
0

6
...
0

5
...
0

22
...
0

22
...
0

22
...
0

19
...
0

6
...
0

3
...
0

6
...
0

3
...
0

6
...
0

4
...
1

7
...
0

7
...
0

8
...
7

4
...
4

23
...
7

9
...
0

16
...
0

8
...
7

8
...
65

2,836
...
00

0
...
28

232
...
86

4
...
00

470
...
36

0
...
00

0
...
14

0
...
28

0
...
00

0
...
0

6
...
0

6
...
0

6
...
0

5
...
0

6
...
0

26
...
0

20
...
3

20
...
0

21
...
7

25
...
0

1
...
0

3
...
0

6
...
0

n
...


6
...
0

Dismissal due to redundancy
allowed by law?

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Third-party notification if
1 worker is dismissed?

No

Yes

Yes

No

Yes

No

Yes

Yes

No

Yes

Third-party approval if
1 worker is dismissed?

No

Yes

Yes

No

No

No

Yes

No

No

No

Third-party notification if
9 workers are dismissed?

No

Yes

Yes

No

Yes

No

Yes

Yes

No

Yes

Third-party approval if
9 workers are dismissed?

No

Yes

Yes

No

No

No

Yes

No

No

No

Retraining or
reassignment?f

No

No

No

No

No

Yes

No

Yes

No

Yes

Priority rules for
redundancies?

No

Yes

No

No

Yes

No

No

Yes

No

No

Priority rules for
reemployment?

Rigidity of hours

No

Paid annual leave
(working days)d

Difficulty of redundancy

Yes

Major restrictions
on weekly holiday work?

Redundancy
cost

Yes

Maximum working days
per week

Research
questionsg

No

50-hour workweek
allowed?c

Difficulty of hiring

Samoa

LABOR MARKET REGULATION DATA

No

Yes

Yes

No

Yes

Yes

No

Yes

No

No

Notice period for redundancy
dismissal (weeks of salary)d

3
...
0

4
...
3

4
...
0

4
...
7

3
...
6

Severance pay for redundancy
dismissal (weeks of salary)d

0
...
0

26
...
2

10
...
7

7
...
6

0
...
2

Unemployment protection
scheme?

No

Yes

No

No

No

Yes

No

No

No

Yes

Health insurance for permanent
employees?

No

Yes

No

Yes

Yes

Yes

No

Yes

No

Yes

Courts or court sections
specializing in labor disputes?

No

No

No

Yes

Yes

No

Yes

Yes

Yes

No

Fixed-term contracts prohibited
for permanent tasks?

247

DOING BUSINESS 2015

Solomon Islands

South Africa

South Sudan

Spain

Sri Lanka

St
...
Lucia

St
...
91

120
...
46

0
...
02

83
...
48

0
...
96

82
...
38

0
...
36

0
...
31

0
...
30

0
...
30

0
...
0

6
...
0

6
...
5

5
...
0

6
...
0

6
...
0

15
...
0

23
...
0

14
...
0

21
...
7

23
...
0

6
...
a
...
0

2
...
0

3
...
0

6
...
0

Dismissal due to redundancy
allowed by law?

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Third-party notification if
1 worker is dismissed?

No

Yes

Yes

Yes

Yes

Yes

No

Yes

No

Yes

Third-party approval if
1 worker is dismissed?

No

No

No

Yes

No

Yes

No

No

No

Yes

Third-party notification if
9 workers are dismissed?

No

Yes

Yes

Yes

Yes

Yes

No

Yes

Yes

Yes

Third-party approval if
9 workers are dismissed?

No

No

No

Yes

No

Yes

No

No

No

Yes

Retraining or
reassignment?f

Yes

No

Yes

No

No

No

No

No

No

No

Priority rules for
redundancies?

Yes

No

No

No

No

Yes

No

No

No

No

Priority rules for
reemployment?

Rigidity of hours

No

Major restrictions
on weekly holiday work?

Difficulty of redundancy

Yes

Maximum working days
per week

Redundancy
cost

Fixed-term contracts prohibited
for permanent tasks?

50-hour workweek
allowed?c

Difficulty of hiring

Slovenia

LABOR MARKET REGULATION DATA

Research
questionsg

248

No

No

No

No

No

No

Yes

No

Yes

No

Notice period for redundancy
dismissal (weeks of salary)d

5
...
3

4
...
3

2
...
3

8
...
7

4
...
3

Severance pay for redundancy
dismissal (weeks of salary)d

5
...
7

5
...
7

15
...
2

0
...
3

10
...
7

Unemployment protection
scheme?

Yes

No

Yes

No

Yes

No


...


Yes

No

Yes

Yes

No

No

Yes

Yes

LABOR MARKET REGULATION DATA

Swaziland

Sweden

Switzerland

Syrian Arab Republic

Taiwan, China

Tajikistan

Tanzania

Thailand

Timor-Leste

No

Yes

Yes

Yes

Yes

Yes

Maximum length of fixed-term
contracts (months)a

No limit

No limit

24

120

60

12

No limit

No limit

No limit

36

Minimum wage for a full-time
worker (US$/month)b

0
...
92

0
...
00

260
...
31

50
...
73

251
...
95

Ratio of minimum wage to value
added per worker

0
...
40

0
...
00

0
...
26

0
...
65

0
...
18

Yes

Yes

Yes

Yes

Yes

Yes

No

Yes

Yes

Yes

6
...
5

5
...
0

6
...
0

6
...
0

6
...
0

Premium for night work
(% of hourly pay)

0

0

0

0

0

0

50

5

0

25

Premium for work on weekly rest
day (% of hourly pay)

100

0

0

0

100

100

100

100

0

100

Major restrictions
on night work?

No

No

No

Yes

No

No

Yes

No

No

No

No

No

Yes

Yes

Yes

No

No

No

No

Yes

16
...
0

25
...
0

21
...
0

23
...
0

6
...
0

Maximum length of probationary
period (months)e

2
...
0

6
...
0

3
...
a
...
0

6
...
0

1
...
0

5
...
4

10
...
7

3
...
7

4
...
3

4
...
8

8
...
0

0
...
0

18
...
9

5
...
7

0
...
20

0
...
80

280
...
33

2
...
69

0
...
67

1,379
...
34

0
...
18

0
...
42

0
...
32

0
...
27

0
...
0

6
...
0

6
...
0

6
...
5

6
...
0

6
...
0

0
...
0

13
...
0

21
...
0

26
...
0

0
...
0

6
...
0

12
...
0

12
...
0

6
...
0

3
...
3

0
...
4

4
...
7

8
...
7

4
...
3

0
...
8

0
...
1

7
...
1

0
...
3

0
...
0

0
...


Zambia

Zimbabwe

Yes

No

No

No

No

No

Maximum length of fixed-term
contracts (months)a

No limit

No limit

60

No limit

24

72

24

No limit

No limit

No limit

Minimum wage for a full-time
worker (US$/month)b

1,379
...
92

44
...
14

622
...
02

384
...
33

292
...
49

Ratio of minimum wage to value
added per worker

0
...
31

0
...
74

0
...
60

1
...
45

1
...
11

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

6
...
0

6
...
0

5
...
0

6
...
0

5
...
0

Premium for night work
(% of hourly pay)

0

0

50

0

30

30

0

15

4

0

Premium for work on weekly rest
day (% of hourly pay)

0

100

100

50

50

0

150

100

100

0

Major restrictions
on night work?

No

No

Yes

No

Yes

No

Yes

No

No

Yes

No

No

No

No

Yes

No

Yes

No

No

No

0
...
0

15
...
0

19
...
0

12
...
0

24
...
0

Maximum length of probationary
period (months)e

3
...
a
...
0

6
...
0

1
...
0

6
...
a
...
0

Dismissal due to redundancy
allowed by law?

Yes

Yes

Yes

Yes

No

Yes

Yes

Yes

Yes

Yes

Third-party notification if
1 worker is dismissed?

No

No

No

No

n
...


No

Yes

Yes

Yes

Yes

Third-party approval if
1 worker is dismissed?

No

No

No

No

n
...


No

No

No

No

Yes

Third-party notification if
9 workers are dismissed?

No

No

Yes

No

n
...


Yes

Yes

Yes

Yes

Yes

Third-party approval if
9 workers are dismissed?

No

No

No

No

n
...


Yes

No

No

No

Yes

Retraining or
reassignment?f

No

No

Yes

No

n
...


Yes

No

No

No

Yes

Priority rules for
redundancies?

No

No

Yes

No

n
...


No

No

No

No

No

Priority rules for
reemployment?

Rigidity of hours

No

Paid annual leave
(working days)d

Difficulty of redundancy

Yes

Major restrictions
on weekly holiday work?

Redundancy
cost

Yes

Maximum working days
per week

Research
questionsg

No

50-hour workweek
allowed?c

Difficulty of hiring

United States
(Los Angeles)

LABOR MARKET REGULATION DATA

No

No

No

No

n
...


No

No

Yes

No

No

Notice period for redundancy
dismissal (weeks of salary)d

0
...
0

8
...
3

n
...


0
...
3

4
...
3

13
...
0

20
...
7

23
...
a
...
6

23
...
1

46
...
3

Unemployment protection
scheme?

Yes

Yes

Yes

No

Yes

Yes

No


...
Including renewals
...
Economies for which 0
...

c
...


d
...

e
...
a
...

f
...


g
...
) for some
economies
...
Some answers are not applicable (n
...
) for economies
where dismissal due to redundancy is disallowed
...


251

Doing Business 2015
Going Beyond Efficiency

Acknowledgments
Data collection and analysis for Doing
Business 2015 were conducted by a
team led by Rita Ramalho (Manager,
Doing Business) under the general direction of Augusto Lopez-Claros (Director,
Global Indicators Group, Development
Economics)
...

The project was managed with the
support of Adrian Gonzalez and Hulya
Ulku
...


Garam Al Kastalani-Dexter, Clemente
Avila Para, Mario Lucio Carvalho
Nascimento, Rong Chen, Sarah Fakhry,
Nadine Ghobrial, Hernando Grueso
Hurtado, Papa Gyan-Baffour, Sameh
Hassan, Maisha Hyman, Wasiq Ismail,
Maksym Markevych, Yuliya Neyman,
Nicole Frances Ntungire, Marilyn Ryan,
Katrin Schulz, Paula Tavares, Augusto
Uribe Bello, Anna Xue Gu and Sonia
Zahkarenko assisted in the months
before publication
...

The online service of the Doing Business
database is managed by Andres
Baquero Franco, Varun Doiphode, Arun
Chakravarthi Nageswaran, Kunal Patel,
Mohan Pathapati, Vinod Thottikkatu
and Hashim Zia and was under the direction of Preeti Endlaw
...

The team is grateful for the valuable
comments provided by colleagues in
the World Bank Group (both on the
draft report and on the changes in the
methodology) and outside the World
Bank Group (on the changes in the methodology) and for the guidance provided by
World Bank Group Executive Directors
...
Kraay
...
Bjerde, Genevieve
Boyreau, Frédéric Bustelo, Cesar
Calderon, Enrico Campagnoli, Cesar
Chaparro Yedro, Constantine Chikosi,
Julian Latimer Clarke, Edward Cook,
Lucia Cordero Ledergerber, Monique
Courchesne, Fernando Dancausa Diaz,
Jean-Paul Decorps, Klaus Deininger,
Pasquale Di Benedetta, Raian Divanbeigi,
Julia Doherty, Omniah Ebeid, Alejandro
Espinosa-Wang, Jorge Familiar Calderon,
Francisco H
...
Ferreira, Penelope
Fidas, Vivien Foster, Jose Garrido, Tania
Ghossein, Willy Giacchino, Raluca
Golumbeanu, Flavio Gonzaga, David
Michael Gould, Heike Gramckow, Tim
Green, Cemile Hacibeyoglu, Iva Hamel,
Carl Patrick Hanlon, Caroline Heider,
Vivian Y
...
Hon, Thea Hilhorst, Neville
Howlett, Lin Huang, Alex Hunt, Giuseppe
Iarossi, Yoichiro Ishihara, Sebastian
S
...
Lewis, Wendy Liberante, Jonathan
Lindsay, Jean Michel Lobet, Gladys
Lopez-Acevedo, Jose Lopez Calix, Antony
Lythgoe, Oscar Madeddu, Mahamoud
Magassouba, Andres Martinez, Martin
Melecky, Eva Maria Melis, Antonia
Menezes, Julian S
...
Peuker, Duc Minh
Pham, Nadia Fernanda Piffaretti,
Tanya Primiani, Alban Pruthi, Claudio
M
...
Schwartz, Sarmad
Shaikh, Katrina Sharkey, Sudhir Shetty,
Sylvia Solf, Victoria Stanley, Jevgenijs
Steinbuks, Adrian Stone, Jennifer
Stradtman, Vinaya Swaroop, Vijay
Srinivas Tata, Govinda R
...

The paying taxes project was conducted
in collaboration with PwC, led by Stef van
Weeghel
...

Corporate Visions, Inc
...

Doing Business would not be possible
without the expertise and generous
input of a network of more than 10,700
local partners, including legal experts,
business consultants, accountants,
freight forwarders, government officials and other professionals routinely
administering or advising on the relevant legal and regulatory requirements
in the 189 economies covered
...
doingbusiness
...

The names of the local partners wishing
to be acknowledged individually are listed
below
...


253

254

DOING BUSINESS 2015

GLOBAL CONTRIBUTORS
ADVOCATES FOR INTERNATIONAL DEVELOPMENT
ALLEN & OVERY LLP
AMERICAN BAR ASSOCIATION, SECTION OF INTERNATIONAL LAW
ASHURST LLP
BAKER & MCKENZIE
CLEARY GOTTLIEB STEEN & HAMILTON LLP
DELOITTE
ERNST & YOUNG
IUS LABORIS, ALLIANCE OF LABOR, EMPLOYMENT, BENEFITS AND
PENSIONS LAW FIRMS
KPMG
LAW SOCIETY OF ENGLAND AND WALES
LEX MUNDI, ASSOCIATION OF INDEPENDENT LAW FIRMS
MAYER BROWN
PANALPINA
RUSSELL BEDFORD INTERNATIONAL

REGIONAL CONTRIBUTORS
A
...
MOLLER-MAERSK GROUP
ASSOCIATION OF CONSUMER CREDIT INFORMATION SUPPLIERS
(ACCIS)
CABINET JOHN W
...

CMS LEGAL
DENTONS
DFDL
GIDE LOYRETTE NOUEL, MEMBER OF LEX MUNDI
GRATA LAW FIRM
MIRANDA CORREIA AMENDOEIRA & ASSOCIADOS
RAPOSO BERNARDO & ASSOCIADOS
SORAINEN
TALAL ABU-GHAZALEH LEGAL (TAG-LEGAL)
TRANSUNION INTERNATIONAL

Hassib Ahmad Amiry
MINISTRY OF COMMERCE AND
INDUSTRY
Mirwais Alami
DA AFGHANISTAN BRESHNA
SHERKAT
Bilal Alsamarrai
RIZVI, ISA, AFRIDI AND ANGELL
Ziaullah Astana
AFGHAN LAND CONSULTING
ORGANIZATION (ALCO)
Joshua Atkinson
MBC CONSTRUCTION

Artur Asllani
TONUCCI & PARTNERS

Erlind Kodhelaj
BOGA & ASSOCIATES TIRANA

Wisal Khan
LEGAL ORACLES

Sabina Baboci
KALO & ASSOCIATES

Jonela Kuro
DRAKOPOULOS LAW FIRM

Mohammed Masood Khwaja
DA AFGHANISTAN BRESHNA
SHERKAT

Indrit Banka
BANK OF ALBANIA

Fatmir Lacej
FATMIR LACEJ NOTARY PUBLIC

Redjan Basha
ABKONS

Rudi Laze
BOZO & ASSOCIATES LAW FIRM

Ledia Beçi
HOXHA, MEMI & HOXHA

Renata Leka
BOGA & ASSOCIATES TIRANA

Jonida Beqiri
DRAKOPOULOS LAW FIRM

Besnik Leskaj
ABKONS

Juna Bozdo
BANK OF ALBANIA

Ekflodia Leskaj
DRAKOPOULOS LAW FIRM

Artan Bozo
BOZO & ASSOCIATES LAW FIRM

Loreta Loli
ALBAKONTROLL

Jori Bregasi
HOXHA, MEMI & HOXHA

Marvin Mborja
BOGA & ASSOCIATES TIRANA

Denada Breshanaj
ABKONS

Andi Memi
HOXHA, MEMI & HOXHA

Alban Caushi
KALO & ASSOCIATES

Aigest Milo
KALO & ASSOCIATES

Elfrida Cuku
KALO & ASSOCIATES

Sabina Pasholli
AVANNTIVE CONSULTING SH
...
K

Ina Curri
PWC ALBANIA

Loreta Peci
PWC ALBANIA

Ilir Daci
OPTIMA LEGAL AND FINANCIAL

Merita Qato
OFFICE OF REGISTRATION OF
IMMOVABLE PROPERTY

Tali Mohammad
AFGHANISTAN INVESTMENT
SUPPORT AGENCY
Siddiqullah Mujadiddi
AFGHANISTAN INVESTMENT
SUPPORT AGENCY
Abdul Naser Nazari
MINISTRY OF AGRICULTURE

Tamsil Rashid
AFGHANISTAN INTERNATIONAL
BANK
Abdul Rahim Saeedi
MINISTRY OF COMMERCE AND
INDUSTRY
Zahid Safi
RIZVI, ISA, AFRIDI AND ANGELL

COLIBRI LAW FIRM

NETWORK

Ahmad Jawid Karimzada
KABUL MUNICIPALITY

Gul Pacha
AFGHANISTAN INVESTMENT
SUPPORT AGENCY

SDV INTERNATIONAL LOGISTICS

Taqi Ahmad
A
...
FERGUSON & CO
...
P
...
RAHMAN
RAHIMGHIYASA - ATTORNEYS
AND AGENTS

Anjola Aliaj
OPTIMA LEGAL AND FINANCIAL

Gaurav Lekh Raj Kukreja
AFGHAN CONTAINER
TRANSPORT COMPANY

DLA PIPER

AFGHANISTAN

Sanzar Kakar
AFGHANISTAN HOLDING GROUP

Shaheryar Aziz
A
...
FERGUSON & CO
...


Khalil Sediq
AFGHANISTAN INTERNATIONAL
BANK
Saeeq Shajjan
SHAJJAN & ASSOCIATES
Mohammad Ibrahim Shams
AFGHANISTAN INVESTMENT
SUPPORT AGENCY
Asiyah Sharifi
AFGHANISTAN FINANCIAL
SERVICES, LLC
Sharifullah Shirzad
DA AFGHANISTAN BANK
Haris Syed Raza
GERRY’S DNATA (PVT
...

Marium Waqar
RIZVI, ISA, AFRIDI AND ANGELL
Najibullah Wardak
MINISTRY OF FINANCE
Abdul Rahman Watanwal
MBC CONSTRUCTION
Mohammadi Khan Yaqoobi
DA AFGHANISTAN BANK
Mohammad Zarif
KABUL MUNICIPALITY
Zmarak Zhouand
AFGHANISTAN LAWYERS
INTERNATIONAL

Saduddin Haziq
AFGHAN UNITED BANK

ALBANIA
WOLF THEISS

Rashid Ibrahim
A
...
FERGUSON & CO
...

Valbona Gjonçari
BOGA & ASSOCIATES TIRANA
Shirli Gorenca
KALO & ASSOCIATES
Mateo Gosnishti
ALB BB AUDITING SHPK CORRESPONDENT OF RUSSELL
BEDFORD INTERNATIONAL
Arta Gurabardhi
ABKONS
Shpati Hoxha
HOXHA, MEMI & HOXHA
Elona Hoxhaj
BOGA & ASSOCIATES TIRANA
Xhet Hushi
KALO & ASSOCIATES
Ilir Johollari
HOXHA, MEMI & HOXHA
Endri Jorgoni
KALO & ASSOCIATES

Laura Qorlaze
AVANNTIVE CONSULTING SH
...
K
Loriana Robo
KALO & ASSOCIATES
Mimoza Sadushaj
MIMOZA SADUSHAJ
Ergis Sefa
ERG MANAGERIAL
Ardjana Shehi
KALO & ASSOCIATES
Alban Shehri
ALBAKONTROLL
Majlinda Sulstarova
TONUCCI & PARTNERS
Besa Tauzi
BOGA & ASSOCIATES TIRANA
Ketrin Topçiu
BOZO & ASSOCIATES LAW FIRM
Elda Toro Shuraja
HOXHA, MEMI & HOXHA
Fioralba Trebicka
HOXHA, MEMI & HOXHA
Alketa Uruçi
BOGA & ASSOCIATES TIRANA
Gerhard Velaj
BOGA & ASSOCIATES TIRANA
Elona Xhepa
BOGA & ASSOCIATES TIRANA
Selena Ymeri
HOXHA, MEMI & HOXHA
Evis Zaja
OPTIMA LEGAL AND FINANCIAL
Enida Zeneli
BOZO & ASSOCIATES LAW FIRM

Miranda Kapllani
BENIMPEX & CO
...
“PwC” refers to the network of member firms of PricewaterhouseCoopers International Limited (PwCIL), or, as the context requires, individual member firms of the PwC network
...
PwCIL does not provide any services to clients
...
No member firm is responsible or liable for the acts
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
...


DIRECTION GÉNÉRALE DES
DOUANES

Nelson Couto Cabral
LAW FIRM CCBS ADVOGADOS

Salima Aloui
LAW FIRM GOUSSANEM & ALOUI

Alexandre Caldas Menezes
ESTRUCTURAL
EMPREENDIMIENTOS
IMOBILIARIOS LDA

Ricki Camacho
ANTIGUA & BARBUDA
INTELLECTUAL PROPERTY &
COMMERCE OFFICE (ABIPCO)

Pedro Calixto
PWC ANGOLA

Neil Coates
PWC ANTIGUA

Luis Filipe Carvalho
VITOR CARVALHO &
ASSOCIADOS

Nicolette Doherty
NICOLETTE M
...
Bermudez
LAPRIDA, GOÑI MORENO &
GONZÁLEZ URROZ

Sandra S
...


Ahmed Reda Boudiaf
SCP BOUDIAF & BOUDIAF

Hamilton Costa
ANGOLA PRIVATE INVESTMENT
AGENCY - ANIP

Amin Bouhaddi
ENTREPRISE BOUHADDI

Yasmina Costa
3C LAW FIRM

Ryad Chabouni
NSC MAGHREB

Cecile Hill
LAND REGISTRY

Graciete Fernandes
LOURDES CAPOSSO FERNANDES
& ASSOCIADOS

Lenworth Johnson
JOHNSON GARDINER

Arnaud Chastel
PWC ALGERIA
Said Dib
BANQUE D’ALGÉRIE

Lourdes Caposso Fernandes
LOURDES CAPOSSO FERNANDES
& ASSOCIADOS

Souhila Djamouh Chaib
CABINET DJAMOUH

Berta Grilo
FBL ADVOGADOS

Ahmed Djouadi
LAW FIRM HADJ-HAMOU &
DJOUADI - ASSOCIATE OFFICE OF
DENTONS

N’Zinga Teixeira Jasse

Khaled Goussanem
LAW FIRM GOUSSANEM & ALOUI
Bachir Khodja
SNC KHODJA ET CIE
Raffa Hakim Lakhdar
NSC MAGHREB
Mohamed Lanouar
B L & ASSOCIÉS - MEMBER OF
DLA PIPER AFRICA
Vincent Lunel
LEFÈVRE PELLETIER & ASSOCIÉS
Mohamed Mokrane
MINISTÈRE DES FINANCES
- DIRECTION GÉNÉRALE DU
DOMAINE NATIONAL
Hamid Ould Hocine
STUDIO A
Fares Ouzegdouh
TRANSPORT PORT LOGISTICS &
SOLUTIONS

Victor Leonel
ORDEM DOS ARQUITECTOS
João Machado
PWC ANGOLA
Sofia Maia do Vale
FBL ADVOGADOS
Guirec Malfait
SDV LOGISTICS
Arcelio Matias
ARCÉLIO INÁCIO DE ALMEIDA
MATIAS – ARDJA-PRESTAÇÃO DE
SERVIÇOS E CONSULTORIA, LDA

John Fuller
JOHN E
...


Lisa M
...

Hugh C
...

Jermaine C
...
Rhudd
RHUDD & ASSOCIATES
Stacy A
...

Andrea Roberts
ROBERTS & CO
...
Solomon
CLARKE & CLARKE

Harrison Medina
LOURDES CAPOSSO FERNANDES
& ASSOCIADOS

Frederick Southwell
DEVELOPMENT CONTROL
AUTHORITY

Yuma Munana
LOURDES CAPOSSO FERNANDES
& ASSOCIADOS

Arthur Thomas
THOMAS, JOHN & CO
...
Carricart
BADENI, CANTILO, LAPLACETTE
& CARRICART

Lucas Loviscek
ESTUDIO BECCAR VARELA

Luciano Cativa
LUNA REQUENA & FERNÁNDEZ
BORZESE TAX LAW FIRM

Tomás M
...
Crouzel
ESTUDIO BECCAR VARELA

Juan Manuel Magadan
PWC ARGENTINA

María Amalia Cruz
ZANG, BERGEL & VIÑES
ABOGADOS

Alejandro Mao
ZANG, BERGEL & VIÑES
ABOGADOS

Valeria D’Alessandro
MARVAL, O’FARRELL & MAIRAL,
MEMBER OF LEX MUNDI

María Lucila Marchini
ESTUDIO BECCAR VARELA

Carola Del Rio
SEVERGNINI, ROBIOLA,
GRINBERG & TOMBEUR
Oscar Alberto del Río
CENTRAL BANK OF ARGENTINA
Santiago D’Eramo
G
...
Fissore
G
...
Eduardo Galleazzi
ARCHITECT

Natalia Artmann
ALFARO ABOGADOS

Javier M
...
Cavallaro
ESTUDIO CAVALLARO ABOGADOS

Martín Gastaldi
ESTUDIO BECCAR VARELA

Alejo Baca Castex
G
...
& M
...
Orsini
SENTIDO COMÚN
Alejandro Poletto
ESTUDIO BECCAR VARELA
Enrique Prini Estebecorena
José Miguel Puccinelli
ESTUDIO BECCAR VARELA
María Clara Pujol
WIENER SOTO CAPARRÓS
Ignacio Questa Etcheberry
ALFARO ABOGADOS
Federico José Reibestein
REIBESTEIN & ASOCIADOS
Armando Ricci
ZANG, BERGEL & VIÑES
ABOGADOS
Sebastián Rodrigo
ALFARO ABOGADOS
Juan Ignacio Ruiz
ALFARO ABOGADOS
Fernanda Sabbatini
WIENER SOTO CAPARRÓS
Luz María Salomón
J
...
O’FARRELL ABOGADOS

255

256

DOING BUSINESS 2015

Mariela Alejandra Sas
M
...
BOMCHIL

Vahe Ghavalyan
PARADIGMA ARMENIA CJSC

Lilit Matevosyan
PWC ARMENIA

Harold Bolitho
KING & WOOD MALLESONS

Jenae Webb
ASHURST LLP

Maria Florencia Sota Vazquez
ALFARO ABOGADOS

Arsen Ghazaryan
UNION OF MANUFACTURERS
AND BUSINESSMEN (EMPLOYERS)
OF ARMENIA

Arsen Matikyan
CMA CGM

Lynda Brumm
PWC AUSTRALIA

Ffion Whaley
ASHURST LLP

Robin McCone
PWC GEORGIA

David Buda
RBHM COMMERCIAL LAWYERS

Juliet Wright-Single
DLA PIPER

Anna Melik-Karamyan
GLOBAL SPC

Gaibrielle Cleary
GOULD RALPH PTY
...
MEMBER OF RUSSELL BEDFORD
INTERNATIONAL

Katarina Zlatar
GILBERT + TOBIN LAWYERS

Pablo Staszewski
STASZEWSKI & ASSOCIATES
Javier Tarasido
SEVERGNINI, ROBIOLA,
GRINBERG & TOMBEUR
Adolfo Tombolini
RUSSELL BEDFORD ARGENTINA
María Paola Trigiani
ALFARO ABOGADOS
Susana Urresti
EDESUR ELECTRICIDAD
DISTRIBUIDORA SUR SA
Emilio Beccar Varela
ESTUDIO BECCAR VARELA
Abraham Viera
PLANOSNET
...
Martirosyan
TRANS-ALLIANCE
Astghik Hakobyan
GLOBAL SPC
Gevorg Hakobyan
CONCERN-DIALOG LAW FIRM
Mariam Harutyunyan
PARADIGMA ARMENIA CJSC
Artak Hovakimyan
BIG ENERGO LLC

Joaquín Emilio Zappa
J
...
O’FARRELL ABOGADOS

Ani Hovhannisyan
GLOBAL SPC

Carlos Zima
PWC ARGENTINA

Hovhannes Hovhannisyan
THE STATE COMMITTEE OF THE
REAL PROPERTY CADASTRE
OF THE GOVERNMENT OF THE
REPUBLIC OF ARMENIA

ARMENIA
HSBC BANK
Ruzan Alaverdyan
MINISTRY OF URBAN
DEVELOPMENT
Arman Arzumanyan
LEGAL LAB
Sedrak Asatryan
Narek Ashughatoyan
LEGAL LAB
Albert Babayan
MINISTRY OF ECONOMY
Anush Baghdasaryan
AVENUE CONSULTING GROUP
Vahagn Balyan
AVENUE CONSULTING GROUP
Irina Belubekyan
UNION OF MANUFACTURERS
AND BUSINESSMEN (EMPLOYERS)
OF ARMENIA
Vardan Bezhanyan
LAW FACULTY, YEREVAN STATE
UNIVERSITY
Abgar Budaghyan
PUBLIC SERVICES REGULATORY
COMMISSION OF ARMENIA
Vahagn Dallakyan
Marine Derdzyan
KPMG
Kristina Dudukchyan
KPMG
Aikanush Edigaryan
TRANS-ALLIANCE
Gagik Galstyan
HORIZON 95
Ruzanna Gevorgyan
GLOBAL SPC
Hrant Ghambaryan
THE COLLEGIUM OF BUSINESSMANAGERS’ BANKRUPTCY - SRO

Isabella Hovhannisyan
EBRD BUSINESS SUPPORT
OFFICE
Vahe G
...


Maria Nicolof
GILBERT + TOBIN LAWYERS

Tserun Voskanyan
ELECTRIC NETWORKS OF
ARMENIA

Kylie Parker
LOGICCA CHARTERED
ACCOUNTANTS

Arman Yesayan
ALFA SYSTEM TECHNOLOGIES

Amanda Phillips
FERRIER HODGSON LIMITED

Liana Yordanyan
TER-TACHATYAN LEGAL AND
BUSINESS CONSULTING

Mark Pistilli
CLIFFORD CHANCE

Alexander Isola
GRAF & PITKOWITZ
RECHTSANWÄLTE GMBH

John Reid
OFFICE OF STATE REVENUE,
NSW TREASURY

Rudolf Kaindl
KOEHLER, KAINDL, DUERR &
PARTNER, CIVIL LAW NOTARIES

Aram Zakaryan
ACRA CREDIT BUREAU

Stanislav Kolesnikov
ELECTRIC NETWORKS OF
ARMENIA

Greg Saunders
CONNECT INFRASTRUCTURE
PTY
...


Alexander Klauser
BRAUNEIS KLAUSER PRÄNDL
RECHTSANWÄLTE GMBH

AUSTRALIA
AUSGRID

Christian Koettl
MINISTRY OF FINANCE

Arayik Kurdyan
REPUBLIC OF ARMENIA YEREVAN
MUNICIPALITY

Dean Schiller
FAYMAN INTERNATIONAL PTY
...


TREASURY OF AUSTRALIA

Lilit Khachatryan
GLOBAL SPC
Karen Khachaturyan
THE STATE COMMITTEE OF THE
REAL PROPERTY CADASTRE
OF THE GOVERNMENT OF THE
REPUBLIC OF ARMENIA
Stepan Khzrtian
LEGAL LAB
Liana Kirakosyan
Tigran Kocharyan
COMPACT REAL ESTATE AGENCY
LLC

Mushegh Manukyan
ADR PARTNERS
Kamo Margaryan
Karen Martirosyan
AVENUE CONSULTING GROUP

Samuel Zakarian
GLOBAL SPC

SDV LOGISTICS
VEDA ADVANTAGE
WORLDWIDE LOGISTICS PTY
...

Jacinta Bishop
MARQUE LAWYERS

Ruwan Senanayake
O
...
S
...
LTD
...
ALEXANDER HOFMANN,
LL
...

Armin Immervoll
MINISTRY OF FINANCE

Rudolf Krickl
PWC AUSTRIA
Michaela Krist
CHSH CERHA HEMPEL
SPIEGELFELD HLAWATI, MEMBER
OF LEX MUNDI
Sophie Meierhofer
FRESHFIELDS BRUCKHAUS
DERINGER

ACKNOWLEDGMENTS

Gerald Mitteregger
INTERNATIONAL LOGISTIC
GATEWAY
Johannes Mrazek
AUSTRIAN REGULATORY
AUTHORITY
Radovan Mrvos
STRABAG SE
Gerhard Muggenhuber
BEV - FEDERAL OFFICE OF
METROLOGY & SURVEYING
Elke Napokoj
BPV HÜGEL RECHTSANWÄLTE
OG
Felix Neuwirther
FRESHFIELDS BRUCKHAUS
DERINGER
Martin Österreicher
GRAF & PITKOWITZ
RECHTSANWÄLTE GMBH
Christian Pöchlinger
PWC AUSTRIA
Barbara Pogacar
BPV HÜGEL RECHTSANWÄLTE
OG
Stefanie Saghy
Moritz Salzgeber
BINDER GRÖSSWANG
RECHTSANWÄLTE GMBH
Edwin Scharf
SCWP SCHINDHELM AUSTRIA
Georg Schima
KUNZ SCHIMA WALLENTIN
RECHTSANWÄLTE OG, MEMBER
OF IUS LABORIS
Stephan Schmalzl
GRAF & PITKOWITZ
RECHTSANWÄLTE GMBH
Ernst Schmidt
HALPERN & PRINZ
Franz Schwarzinger
REVISIONSTREUHAND - MEMBER
OF RUSSELL BEDFORD
INTERNATIONAL
Helmut Sprongl
AUSTRIAN REGULATORY
AUTHORITY
Teresa Steininger
GRAF & PITKOWITZ
RECHTSANWÄLTE GMBH
Thomas Trettnak
CHSH CERHA HEMPEL
SPIEGELFELD HLAWATI, MEMBER
OF LEX MUNDI
Birgit Vogt-Majarek
KUNZ SCHIMA WALLENTIN
RECHTSANWÄLTE OG, MEMBER
OF IUS LABORIS
Sabine Waiss
KUNZ SCHIMA WALLENTIN
RECHTSANWÄLTE OG, MEMBER
OF IUS LABORIS
Lukas A
...
Manafov
UNIBANK

Parviz Abdullayev
PWC AZERBAIJAN

Rauf Memmedov
STATE CUSTOMS COMMITTEE

Sabit Abdullayev
IJS LAW FIRM

Farhad Mirzayev
BM MORRISON PARTNERS LAW
FIRM

Eldar Agayev
ERNST & YOUNG
Eldar Abuzarovich Aliev
AZERBAIJAN STATE AGENCY
FOR THE CONTROL OF
CONSTRUCTION SAFETY
Qabil Aliyev
AGEX TRANS
Jamil Alizada
BAKER & MCKENZIE - CIS,
LIMITED

Ruslan Mukhtarov
BM MORRISON PARTNERS LAW
FIRM
Lala Mustafayeva
DELOITTE
Mamed Nuriyev
THE STATE SOCIAL PROTECTION
FUND
Jabbarly Polad
IJS LAW FIRM

Nubar Allahguluyeva
ERNST & YOUNG

Elshan Rahmanov
GRATA LAW FIRM

Aykhan Asadov
BM MORRISON PARTNERS LAW
FIRM

Sadig Sadiqov
OJSC BAKIELEKTRIKSHEBEKE

Andrew G
...
O’Brien II
GLINTON, SWEETING, O’BRIEN
LAW FIRM
Lindsy Pinders
PINDERS CUSTOMS BROKERAGE

Qays H
...
Roberts
CALLENDERS & CO
...
Sands
LENNOX PATON

Brian Howard
TROWERS & HAMLINS

Ronald Saunders
RONALD SAUNDERS

Hessa Hussain
THE BENEFIT COMPANY

Rochelle Sealy
PWC BAHAMAS

Jeremy Ingham
TROWERS & HAMLINS

Merrit A
...
Wright
CHANCELLOR CHAMBERS

Jamal Baghirov
BM MORRISON PARTNERS LAW
FIRM

Mustafa Salamov
BM MORRISON PARTNERS LAW
FIRM

BAHRAIN
ERNST & YOUNG

Hikmet Brdaric
KN IBRAKOM FZCO
...
Habiyev
THE STATE COMMITTEE ON
PROPERTY ISSUES
Samir Hadjiyev
GRATA LAW FIRM
Arzu Hajiyeva
ERNST & YOUNG
Farid Huseynov
EKVITA LEGAL AND TAX
Mehti Ilgar
EKVITA LEGAL AND TAX
Ummi Jalilova
GRATA LAW FIRM
Emin Karimov
Elshad Khanalibayli
THE STATE COMMITTEE ON
PROPERTY ISSUES
Sevda Khanmamedova
ARS EXPRESS & LOGISTICS
Kamal Mamedzade
SALANS FMC SNR DENTON
EUROPE (CENTRAL ASIA) LIMITED
Elnur Mammadov
PWC AZERBAIJAN
Nurlan Mammadov
BAKER & MCKENZIE - CIS,
LIMITED
Zaur Mammadov
ERNST & YOUNG
Mirsalim Mammadzada
DELOITTE
Saif Mammedov
NTD SERVICE

Anar A
...
Gerard Archer
TAYLOR INDUSTRIES LTD
...

Jacklyn Burrows
LORD ELLOR & CO
...
B
...

Surinder Deal
HIGGS & JOHNSON
Craig G
...
Ferguson Jr
...

Wendy Forsythe
IMPORT EXPORT BROKERS LTD
...

Lester J
...

CALLENDERS & CO
...
Saade
ASAR – AL RUWAYEH &
PARTNERS

Zeenat Al Mansoori
ZEENAT AL MANSOORI &
ASSOCIATES

Naji Sabt
SURVEY AND LAND
REGISTRATION BUREAU

Ali Nematallah Al Neamah
ELECTRICITY & WATER
AUTHORITY

Mohamed Salahuddin
MOHAMED SALAHUDDIN
CONSULTING ENGINEERING
BUREAU

Reem Al Rayes
ZEENAT AL MANSOORI &
ASSOCIATES
Bader Al Saad
BAHRAIN INVESTORS CENTER
Waleed Al Sabbagh
BAHRAIN CUSTOMS
Raju Alagarsamy
HASSAN RADHI & ASSOCIATES
Mohamed Al-Ahmadi
BAHRAIN INVESTORS CENTER
Ebtihal Al-Hashimi
MINISTRY OF MUNICIPALITIES
AND URBAN PLANNING
Haider Al-Noaimi
MOHAMED SALAHUDDIN
CONSULTING ENGINEERING
BUREAU
Mohammed Noor Al-Shaikh
MINISTRY OF MUNICIPALITIES
AND URBAN PLANNING
Barbara Anderson
TROWERS & HAMLINS
Nada Azmi
BAHRAIN ECONOMIC
DEVELOPMENT BOARD
Steve Brown
ASAR – AL RUWAYEH &
PARTNERS
Yousif Bubshait
PORTS AND MARITIME AFFAIRS MINISTRY OF TRANSPORTATION

Thamer Salahuddin
MOHAMED SALAHUDDIN
CONSULTING ENGINEERING
BUREAU
Hamza Saleem
ZU’BI & PARTNERS ATTORNEYS
& LEGAL CONSULTANTS
Esmond Hugh Stokes
ZU’BI & PARTNERS ATTORNEYS
& LEGAL CONSULTANTS
Waheed Sultan
BAHRAIN INVESTORS CENTER
Baiju Thomas
AGILITY LOGISTICS
Muneera Zubari
ZU’BI & PARTNERS ATTORNEYS
& LEGAL CONSULTANTS
Hatim S
...
QASEM & CO
...
Ahmed
BANGLADESH CONTAINER LINES
LTD
...
KAMAL HOSSAIN &
ASSOCIATES
Tasmiah Ahmed
FM ASSOCIATES
Intekhab-Ul Alam
A
...
& ASSOCIATES
K
...
Tanzib Alam
TANJIB ALAM AND ASSOCIATES
Kazi Ershadul Alam
TANJIB ALAM AND ASSOCIATES
Kazi Rifat Ara Alam
LEGACY LEGAL CORPORATE
Mohammad Jahangir Alam
MJ ALAM AND ASSOCIATES
Shajib Mahmood Alam
SANWAR HOSSAINS LAW FIRM
M
...
D
...

Mehedy Amin
DEVELOPMENT CONSTRUCTIONS
LTD
...

Mohammed Asaduzzaman
SYED ISHTIAQ AHMED &
ASSOCIATES

K
...
A
...
Russel Haque
AMIR & AMIR LAW ASSOCIATES,
MEMBER OF LEX MUNDI
Nazmul Haque
BANGLADESH BANK
Abdullah Mahmood Hasan
DR
...
Sanwar Hossains
SANWAR HOSSAINS LAW FIRM
Afsana Huq
AMIR & AMIR LAW ASSOCIATES,
MEMBER OF LEX MUNDI

Sharif Bhuiyan
DR
...
Kowshick Nahian
NURUL ISLAM SUJAN &
ASSOCIATES
Al-Haj Nisar Uddin Ahmad
Monzu
SAHIL GROUP
Tasmiah Nuhiya Ahmed
LEX LEGAL
Tanveerul Haque Probal
BUILDING FOR FUTURE LTD
...
I
...
Monsoor

Ashiq Imran
FIALKA

A
...
A
...
S
...
Tameem Rahman
LEGACY LEGAL CORPORATE

Kasi Iqbal
LAW OFFICES OF KASI M
...
S
...
A
...


Qazi Mahtab-uz-Zaman

M
...
La-Tainur Rahman
LEGACY LEGAL CORPORATE
Mir Raisa Rakiba
LEGACY LEGAL CORPORATE
Tarek Rashid
ZOHA ZAMAN KABIR RASHID &
CO
...


Farhana Siraj Ronnie
AKHTAR IMAM & ASSOCIATES

Rafiqul Islam
PROJUKTIBIZ

Mohammad Saif Uddin
KPMG

Aminul Islam Nazir
ASSURANCE MARITIME
BANGLADESH LIMITED

Mohammed Saifuddin
S&R LAW ASSOCIATES

Rabeya Jamali

Naziba Saima
A
...


Anupam Chakraborty
DOULAH & DOULAH

K M Humayun Kabir
ZEIN TRADING CORPORATION

Khaja Salahuddin Ahmed
LEGACY LEGAL CORPORATE

Gouranga Chakraborty
BANGLADESH BANK

Lutful Kabir
BANGLADESH BANK

Jamilur Reza Choudhury

Mohammad Masum Kamal
Bhuiyan
BANGLADESH BANK

Abu Sayed
ASSURANCE MARITIME
BANGLADESH LIMITED

Ayub Chowdhury
AYUB CHY & MAHMUD
CHARTERED ACCOUNTANT
Fatima Chowdhury
FM ASSOCIATES
Khairul Anam Chowdhury
MODERN ERECTION LIMITED
(MEL)
Mohammad Rafiqul Islam
Chowdhury
M
...
I
...
QASEM & CO
...
QASEM & CO
...
Shariful Islam Shaheen
BANGLADESH ENERGY
REGULATORY COMMISSION
Sohail Shakoor
PRONAYON
Md
...
S
...
Iqbal
ADVOCATE KAZI M
...
ELCOCK & CO
...


Sabrina Zarin
FM ASSOCIATES

BARBADOS

Andrew F
...

George Browne
TOWN AND COUNTRY
DEVELOPMENT PLANNING OFFICE
Vincent Burnett
MINISTRY OF LABOR AND
SOCIAL SECURITY AND HUMAN
RESOURCE DEVELOPMENT
Rosalind Bynoe
BCF ATTORNEYS-AT-LAW

Chester Pitt
EARLE & EARLE CONSULTING
INC
...

Stephen Worme
THE BARBADOS LIGHT AND
POWER COMPANY LTD
...
Carmichael
CHANCERY CHAMBERS

Alexey Anischenko
SORAINEN BELARUS

Adrian Carter
THE BARBADOS LIGHT AND
POWER COMPANY LTD
...

Heather A
...
Elcock
EVERSON R
...
LTD
...
ELCOCK & CO
...

Andrew C
...
Giles
YEARWOOD AND BOYCE
Sharalee Gittens
CHANCERY CHAMBERS
Stanton Gittens
STANGITTS LIMITED
Anice C
...
Granville
LEX CARIBBEAN
Jomo Crowther McGlinne Hope
ARTEMIS LAW
Keisha N Hyde Porchetta
HARRIDYAL-SODHA &
ASSOCIATES
Ruan C
...
CUSTOMS BROKERS AND
AIR SEA AND LAND TRANSPORT
INC
...
Nurse
THE BOOTH STEAMSHIP CO
...

Laurel Odle
PWC BARBADOS
Gina D
...
Biruk
CAPITAL GROUP
Arthur Biryukov
THE SUPREME ECONOMIC
COURT OF THE REPUBLIC OF
BELARUS
Dmitry Bokhan
VERKHOVODKO & PARTNERS
LLC
Alexander Botian
BOROVTSOV & SALEI LEGAL
SERVICES
Ekaterina Burak
REVERA CONSULTING GROUP
Eugenia Chetverikova
REVERA CONSULTING GROUP
Aliaksandr Danilevich
DANILEVICH LAW OFFICE
Alexey Daryin
REVERA CONSULTING GROUP
Ulyana Evseeva
BNT LEGAL & TAX
Kirill Golovko
REVERA CONSULTING GROUP
Marina Golovnitskaya
SORAINEN BELARUS
Evgeniia Goriounova
LAW FIRM GLIMSTEDT
Tatiana Guretskaya
REVERA CONSULTING GROUP
Elena Hmeleva
VERKHOVODKO & PARTNERS
LLC
Alina Kalinouskaya
MINSK BAR ASSOCIATION
Nataliya Kaliuta
EGOROV PUGISNKY AFANASIEV
AND PARTNERS (EPA&P)
Olga Karabeika
REVERA CONSULTING GROUP
Uljana Karpekina
REVERA CONSULTING GROUP
Alexandre Khrapoutski
SYSOUEV, BONDAR,
KHRAPOUTSKI SBH LAW OFFICE
Sergey Khromov
VERKHOVODKO & PARTNERS
LLC

ACKNOWLEDGMENTS

Siarhei Khvastovich
LEGAL COMPANY CRISIS
CONSULTING
Alexander Kirilenko
AGENCY OF TERNAROUND
TECHNOLOGIES
Nina Knyazeva
VERKHOVODKO & PARTNERS
LLC
Michael Koltinov
RAIDLA LEJINS & NORCOUS
Nadezhda Koroleva
SYSOUEV, BONDAR,
KHRAPOUTSKI SBH LAW OFFICE
Dmitry Kovalchik
STEPANOVSKI, PAPAKUL AND
PARTNERS LTD
...
Melnik
THE SUPREME ECONOMIC
COURT OF THE REPUBLIC OF
BELARUS
Elena Melnikova
REVERA CONSULTING GROUP
Konstantin Mikhel
VLASOVA MIKHEL & PARTNERS
Aleksandr Mironichenko
MINISTRY OF ECONOMY

Tatyana Pozdneeva
VLASOVA MIKHEL & PARTNERS
Raman Ramanau
MINSK CABLE (ELECTRICAL)
NETWORK
Rybakovskaja
MINISTRY OF ENERGY
Evgenia Seregina
ARZINGER & PARTNERS
INTERNATIONAL LAW FIRM
Anna Shalimo
VERKHOVODKO & PARTNERS
LLC
Kristina Shibeko
ERGO INSURANCE COMPANY
Yulia Shuba
BOROVTSOV & SALEI LEGAL
SERVICES
Dmitry Skorodulin
Anna Skorodulina
ATTORNEYS OF JURZNAK,
ADVOCATES

Alla Sundukova
MINISTRY OF TAXES AND DUTIES
Natalia Talai
VLASOVA MIKHEL & PARTNERS
Nikita Tolkanitsa
CHSH CERHA HEMPEL
SPIEGELFELD HLAWATI
Fiodar Tsurko
TIMIOR
Eugenia Urodnich
GLIMSTEDT
Alena Usenia
ARZINGER & PARTNERS
INTERNATIONAL LAW FIRM
Irina Veremeichuk
VERKHOVODKO & PARTNERS
LLC
Igor Verkhovodko
VERKHOVODKO & PARTNERS
LLC
Dmitry Viltovsky
ARZINGER & PARTNERS
INTERNATIONAL LAW FIRM

Inesa Nazarova
PWC BELARUS

Olga Yevmenchikova
REVERA CONSULTING GROUP

Valentina Neizvestnaya
AUDIT AND CONSULTING LTD
...
T
...

Sibylle Vandenberghe
PWC BELGIUM
Grégory Vandenbussche
AREN ARCHITECTS AND
ENGINEERS SPRL
Tom Vantroyen
ALTIUS
Robert Vermetten
TRANSPORT & PROJECT
LOGISTICS

Safia Abdoulaye
CABINET D’HUISSIER DE JUSTICE
Seibu Abou
TRIBUNAL DE PREMIÈRE
INSTANCE DE COTONOU
Eric Fadhil Adamon
NOTAIRE ADAMON
Djamiou Adebo
NOTAIRE ADEBO
Ganiou Adechy
ETUDE DE ME GANIOU ADECHY
Abdou Kabir Adoumbou
CABINET MAÎTRE RAFIKOU ALABI
Saïdou Agbantou
CABINET D’AVOCATS

BELIZE
CENTRAL BUILDING AUTHORITY

Maxime Ahonako
CABINET D’AVOCATS

Emil Arguelles
ARGUELLES & COMPANY LLC
José A
...
Bennett
YOUNG’S ENGINEERING
CONSULTANCY LTD
...
Gandhi
INTERNATIONAL FINANCIAL
SERVICES COMMISSION
Russell Longsworth
CARIBBEAN SHIPPING AGENCIES
LTD
...

Reynaldo Magaña
MOORE STEPHENS MAGAÑA LLP

Stéphanie Kervyn de
Meerendré
DEMINOR INTERNATIONAL SCRL

Samantha Matute
BELIZE COMPANIES AND
CORPORATE AFFAIRS REGISTRY

Erika Leenknecht
EUBELIUS ATTORNEYS

Tania Moody
BARROW & WILLIAMS

Stephan Legein
FEDERAL PUBLIC SERVICE
FINANCE

Vanessa Retreage
REYES RETREAGE LLP

Philippe Massart
SIBELGA

BENIN

Guy Médard Agbo-Fayemi
CABINET D’ARCHITECTURE
ARCADE INTERNATIONAL

Andrew Marshalleck
BARROW & CO
...


Aldo Reyes
REYES RETREAGE LLP
Wilfred Rhaburn
W
...
Aïhou
FADESP/UAC
Rodolphe Kadoukpe Akoto
Andre Akpinfa
DIRECTION DES DOMAINES,
DE L’ENREGISTREMENT ET DU
TIMBRE (DDET)
Euloge Akpo
TRIBUNAL DE PREMIÈRE
INSTANCE DE COTONOU
Sylvie Akpo
BCEAO
Sybel Akuesson
FIDUCIAIRE CONSEIL ET
ASSISTANCE (FCA)
Rafikou Agnila Alabi
CABINET MAÎTRE RAFIKOU ALABI
Françoise Amoussou
NOUVELLE VISION
Tolulokpe Bilikis Assani
NOTAIRE ASSANI
Jacques Moïse Atchade
CABINET DE MAÎTRE ATCHADE
Charles Badou
CABINET D’AVOCATS CHARLES
BADOU
Bassambie Bationo
BCEAO
Bienvenu Koffi Bedie
CABINET D’AVOCATS
Ferdinand Bokossa Yaou
ENGINEER
Is-Dine Bouraima
GUICHET UNIQUE DE
FORMALISATION DES
ENTREPRISES
Sètondji Pierre Codjia
CABINET D’AVOCATS CHARLES
BADOU
Alice Codjia-Sohouenou
CABINET D’AVOCATS ALICE
CODJIA SOHOUÉNOU

259

260

DOING BUSINESS 2015

Bonaventure Dansou
AFRICA HANDLING AND
LOGISTICS

Adegbindin Saliou
CABINET DES EXPERTS ASSOCIÉS
- CEA SARL

Ugyen Dorji
DRUK INTEGRATED GREEN
BUILDINGS

Magloire Daoudou
CABINET DES EXPERTS ASSOCIÉS
- CEA SARL

Moussa Sanogo
BCEAO

Laxmi Prasad Giri
BHUTAN NATIONAL BANK

G
...
B
...
DOSSOU
Rodrigue Dossou-Togbe
Dieudonné Didier Dovoedo
NOTAIRE DOVOEDO
Bérenger Ette
PWC CÔTE D’IVOIRE

Brice Allassane Tamba
LA MAIRIE DE COTONOU
- SERVICE DES AFFAIRES
DOMANIALES
Dominique Taty
PWC CÔTE D’IVOIRE
Jean-Bosco Todjinou
ECOPLAN SARL
Gilbert Ulrich Togbonon
TRIBUNAL DE PREMIÈRE
INSTANCE DE COTONOU

Henri Fadonougbo
TRIBUNAL DE PREMIÈRE
INSTANCE DE COTONOU

Robert Togbossi
LA MAIRIE DE COTONOU
- SERVICE DES AFFAIRES
DOMANIALES

Franck Wilfried Fakeye
GUICHET UNIQUE DE
FORMALISATION DES
ENTREPRISES

Rodrigue Tokpessi
LA MAIRIE DE COTONOU
- SERVICE DES AFFAIRES
DOMANIALES

Mahaman Tahir Hamani
BCEAO

Fousséni Traoré
PWC CÔTE D’IVOIRE

Nadege Honuo
ETUDE DE ME FADHIL ADAMON

Thierry Verdier
SOCIÉTÉ D’EXPLOITATION DU
GUICHET UNIQUE DU BÉNIN
(SEGUB)

Angelo Hounkpatin
Marcel Sègbégnon Hounnou
CABINET D’AVOCATS
Patrick K
...
Maximilien Kpehounou
TRIBUNAL DE PREMIÈRE
INSTANCE DE COTONOU
Cyrille Laleye
ECOBANK
Taïrou Mama
SOCIÉTÉ INTERNATIONALE DE
TRANSIT TOURÉ
Adeline Messou
PWC CÔTE D’IVOIRE
M
...
FFOOKS &
CO
...

Bhakta Acharya
Cheda
UC ASSOCIATES: BHUTAN LAW
OFFICE
Tshering Choden
DEPARTMENT OF REVENUE AND
CUSTOMS
Sonam Chophel
CREDIT INFORMATION BUREAU
OF BHUTAN
Jigme Dorji
THIMPHU CITY CORPORATION

Raúl Sanjinés Elizagoyen
SANJINÉS & ASOCIADOS ABOGADOS

Alejandra Guevara
GUEVARA & GUTIÉRREZ SC

A
...
CIV
...
Jiménez Alvarez
COLEGIO DE INGENIEROS
ELECTRICISTAS Y ELECTRÓNICOS
LA PAZ

Karla Würth
WÜRTH KIM COSTA DU RELS
ABOGADOS SC

Rodrigo Jimenez-Cusicanqui
SALAZAR, SALAZAR &
ASOCIADOS, SOC
...


BOSNIA AND
HERZEGOVINA
LRC CREDIT BUREAU

Sonam Tashi
MINISTRY OF ECONOMIC AFFAIRS

Paola Justiniano Arias
SANJINÉS & ASOCIADOS ABOGADOS

Amar Bajramović
LAW OFFICE BAJRAMOVIC

Wang Tshering
PCT CONSTRUCTION

Julio César Landívar Castro
GUEVARA & GUTIÉRREZ SC

Karma Tshewang
VISIT ASIA

César Lora Moretto
PWC BOLIVIA

Edisa Bakovic
LAW OFFICE FEMIL CURT - PART
OF DLA PIPER GROUP

Pema Wangda
MINISTRY OF LABOUR AND
HUMAN RESOURCES

Marcelo Luna
BDO BERTHIN AMENGUAL &
ASOCIADOS

Mubera Brković
PWC BOSNIA AND HERZEGOVINA

Karma Yeshey
MINISTRY OF ECONOMIC AFFAIRS

Ariel Morales Vasquez
C
...
& F
...


Daniela Aragones Cortez
SANJINÉS & ASOCIADOS ABOGADOS
Eduardo Aramayo
PWC BOLIVIA
Mauricio Ayala
AC CONSULTORES LEGALES
Rigoberto Paredes Ayllón
RIGOBERTO PAREDES &
ASSOCIATES
Raúl A
...
R
...
ROJAS, MEMBER OF
LEX MUNDI
Armando Berdecio De Martini
VANGUARD MUEBLES
Hugo Berthin
BDO BERTHIN AMENGUAL &
ASOCIADOS
Andrea Bollmann-Duarte
SALAZAR, SALAZAR &
ASOCIADOS, SOC
...

Dionicio Calle
CRIALES, URCULLO & ANTEZANA

Kencho Dorji
LEKO PACKERS

Daniel Carlsen
RIGOBERTO PAREDES &
ASSOCIATES

Lhundub Dorji
EAST-WEST CONSTRUCTION

Asdruval Columba Jofre
AC CONSULTORES LEGALES

Mindu Dorji
MINISTRY OF ECONOMIC AFFAIRS

Dorian de Rojas
GAVA BOLIVIA

Namgay Dorji
OFFICE OF THE ATTORNEY
GENERAL

Cynthia Diaz Quevedo
FERRERE ATTORNEYS

Tashi Dorji
JUDICIARY OF BHUTAN

Jose Luis Diaz Romero
SERVICIOS GENERALES EN
ELECTRICIDAD Y CONSTRUCCIÓN
(SGEC)

Jaime Muñoz-Reyes G
...
CIV
...
R
...
ROJAS, MEMBER OF
LEX MUNDI
Mariela Rojas de Hamel
ENTIDAD DE SERVICIOS DE
INFORMACIÓN ENSERBIC SA
Sergio Salazar-Arce
SALAZAR, SALAZAR &
ASOCIADOS, SOC
...

Sergio Salazar-Machicado
SALAZAR, SALAZAR &
ASOCIADOS, SOC
...

Sandra Salinas
C
...
& F
...
O
...


Zlatko Čengić
UNIONINVEST D
...

Femil Čurt
LAW OFFICE FEMIL CURT - PART
OF DLA PIPER GROUP
Mia Delić
ADVOKATSKA KANCELARIJA
SPAHO
Stevan Dimitrijevic
KN KARANOVIĆ & NIKOLIĆ
Višnja Dizdarević
MARIĆ & CO
...
LAW FIRM
Jasmina Dzaferovic
KN KARANOVIĆ & NIKOLIĆ
Jasmina Gabela
UNIONINVEST D
...

Igor Gavran
FOREIGN TRADE CHAMBER OF
BOSNIA AND HERZEGOVINA
INTERNATIONAL FREIGHT
FORWARDERS ASSOCIATION
Semir Guzin
KEBO & GUZIN
Dulizara Hadzimustafic
FERK (REGULATORY
COMMISSION FOR ELECTRICITY
IN THE FEDERATION OF BOSNIA
AND HERZEGOVINA)
Zijad Hasović
KOMORA REVIZORA FBIH
Belma Hodzic
CMS REICH-ROHRWIG HAINZ
D
...
O
...
O
...

Arela Jusufbasić-Goloman
LAWYERS OFFICE TKALCICDULIC, PREBANIC, RIZVIC &
JUSUFBASIC-GOLOMAN
Nedžada Kapidžić
NOTARY

ACKNOWLEDGMENTS

Muhidin Karšić
Sejda Kruščica-Fejzić
JP ELEKTROPRIVREDA
BIH PODRUŽNICA
ELEKTRODISTRIBUCIJA
SARAJEVO
Saša Lemez
CENTRAL BANK OF BOSNIA AND
HERZEGOVINA

BOTSWANA
TRANSUNION ITC
Jeffrey Bookbinder
BOOKBINDER BUSINESS LAW
John Carr-Hartley
ARMSTRONGS ATTORNEYS
Gorata Dibotelo
ARMSTRONGS ATTORNEYS

Nedžad Madžak
CONFIDA D
...
O
...
LAW FIRM

Tatenda Dumba
ARMSTRONGS ATTORNEYS

Davorin Marinkovic
KN KARANOVIĆ & NIKOLIĆ

Edward W
...


Emir Naimkadić
JP ELEKTROPRIVREDA
BIH PODRUŽNICA
ELEKTRODISTRIBUCIJA
SARAJEVO

Sylvester Lekone
MANICA AFRICA PTY
...


Monija Nogulic
FERK (REGULATORY
COMMISSION FOR ELECTRICITY
IN THE FEDERATION OF BOSNIA
AND HERZEGOVINA)

Mercia Bonzo Makgalemele
CHIBANDA, MAKGALEMELE & CO
...
LTD
...

Abel Walter Modimo
MODIMO & ASSOCIATES
Setho Mokobi
BOOKBINDER BUSINESS LAW

Marija Prskalo
KN KARANOVIĆ & NIKOLIĆ

Mmatshipi Motsepe
MANICA AFRICA PTY
...


Predrag Radovanović
MARIĆ & CO
...
O
...


Buhlebenkosi Ncube
LAWYER

Hasib Salkić
JUMP LOGISTICS D
...
O
...
O
...

Alma Šečić
LAW OFFICE FEMIL CURT - PART
OF DLA PIPER GROUP
Arjana Selimić
JP ELEKTROPRIVREDA
BIH PODRUŽNICA
ELEKTRODISTRIBUCIJA
SARAJEVO
Amela Selmanagic
WOLF THEISS D
...
O
...
O
...

Mehmed Spaho
ADVOKATSKA KANCELARIJA
SPAHO
Bojana Tkalčić-Djulić
LAWYERS OFFICE TKALCICDULIC, PREBANIC, RIZVIC &
JUSUFBASIC-GOLOMAN
Edin Zametica
DERK (STATE ELECTRICITY
REGULATORY COMMISSION)

Kwadwo Osei-Ofei
OSEI-OFEI SWABI & CO
...
LTD
...
DO LAGO
ARQUITETOS ASSOCIADOS

Frederick Webb
ARMSTRONGS ATTORNEYS

David Benoliel
NORONHA ADVOGADOS

Nilusha Weeraratne
PWC BOTSWANA

Marcello Bernardes
PINHEIRO NETO ADVOGADOS

Sipho Ziga
ARMSTRONGS ATTORNEYS

João Pedro Berwanger
MACHADO, MEYER, SENDACZ E
OPICE ADVOGADOS

BRAZIL
EXPERTNESS BRAZIL FREIGHT
FORWARDING & CONSULTING
LTDA
Marina Agueda
DE LUCA, DERENUSSON,
SCHUTTOFF E AZEVEDO
ADVOGADOS
Antônio Aires
DEMAREST E ALMEIDA
ADVOGADOS
Pedro Almeida
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS

Camila Biral
DEMAREST E ALMEIDA
ADVOGADOS
Amir Bocayuva Cunha
BARBOSA, MÜSSNICH & ARAGÃO
ADVOGADOS
Adriano Borges
DE VIVO, WHITAKER E CASTRO
ADVOGADOS
Pedro Pio Borges
MACHADO, MEYER, SENDACZ E
OPICE ADVOGADOS
Fernanda Bortolini
PINHEIRO NETO ADVOGADOS
Carlos Braga
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS

Sérgio Bronstein
VEIRANO ADVOGADOS
Marcus Brumano
DEMAREST E ALMEIDA
ADVOGADOS
Matheus Bueno de Oliveira
COSTA, WAISBERG E
TAVARES PAES SOCIEDADE DE
ADVOGADOS
Frederico Buosi
VELLA PUGLIESE BUOSI GUIDONI
Guilherme Cacciari Veloni
DEMAREST ADVOGADOS (RIO DE
JANEIRO BRANCH)
Renata Câmara Mattos
VEIRANO ADVOGADOS
Renato Canizares
DEMAREST E ALMEIDA
ADVOGADOS
Érika Carvalho
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS
Thiago Carvalho Stob
NORONHA ADVOGADOS
Ramon Castilho
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS
Rodrigo Castro
VEIRANO ADVOGADOS
Isabela Coelho
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS
Ricardo E
...
T
...
R
...
F
...

Santos
LAZZARINI MORETTI E MORAES
ADVOGADOS
Glaucia Mara Coelho
MACHADO, MEYER, SENDACZ E
OPICE ADVOGADOS
Deborah Marques
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS
Renata Martins de Oliveira
MACHADO, MEYER, SENDACZ E
OPICE ADVOGADOS
Thais Martone
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS
Laura Massetto Meyer
PINHEIRO GUIMARÃES
ADVOGADOS
Marcelo Mattos
VEIRANO ADVOGADOS
Felipe Oliveira Mavignier
GASPARINI, DE CRESCI E
NOGUEIRA DE LIMA ADVOGADOS
Davi Medina Vilela
VIEIRA, REZENDE, BARBOSA E
GUERREIRO ADVOGADOS
Aloysio Meirelles de Miranda
ULHÔA CANTO, REZENDE E
GUERRA-ADVOGADOS
Marianne Mendes Webber
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS
Alexandre Mesquita
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS
João Montandon Borges
MONTANDON BORGES ADVOCACIA E CONSULTORIA
Adriano Morais
Renata M
...
Namur
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS

Jorge Nemr
LEITE, TOSTO E BARROS
Walter Nimir
DE VIVO, WHITAKER E CASTRO
ADVOGADOS
Antonio Noronha
LEFOSSE ADVOGADOS
Flávio Pinto Nunes
THYSSENKRUPP CSA
SIDERURGICA DO ATLANTICO
Michael O’Connor
GUERRA E BATISTA ADVOGADOS
Daniel Oliveira
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS
Evany Oliveira
PWC BRAZIL
Taisa Oliveira
KLA-KOURY LOPES ADVOGADOS
Eduardo Ono Terashima
DEMAREST E ALMEIDA
ADVOGADOS
Gyedre Palma Carneiro de
Oliveira
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS
Franco Parente
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS
Luis Filipe Pedro
MACHADO, MEYER, SENDACZ E
OPICE ADVOGADOS
Rogerio Rabelo Peixoto
BANCO CENTRAL DO BRASIL
Paulo Penteado de Faria e
Silva Neto
VEIRANO ADVOGADOS
Luciana Pereira Costa
ULHÔA CANTO, REZENDE E
GUERRA-ADVOGADOS
Luiz Eduardo Pereira Paz
LIGHT SERVICOS DE
ELETRICIDADE S
...

Luanda Pinto Backheuser
DE LUCA, DERENUSSON,
SCHUTTOFF E AZEVEDO
ADVOGADOS
Antonio Claudio Pinto da
Fonseca
CONSTRUTORA MG LTDA
Cassia Pizzotti
DEMAREST E ALMEIDA
ADVOGADOS
Raphael Polito
RAYES & FAGUNDES
ADVOGADOS
Renato Poltronieri
DEMAREST E ALMEIDA
ADVOGADOS
José Ribeiro do Prado Junior
MACHADO, MEYER, SENDACZ E
OPICE ADVOGADOS
Aline Prado Silva
DE CONTI LAW OFFICE
Antonio Celso Pugliese
VELLA PUGLIESE BUOSI GUIDONI
Dario Rabay
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS
Ana Paula Rabello
LEFOSSE ADVOGADOS
Carlos Alberto Ramos de
Vasconcelos
DEMAREST ADVOGADOS (RIO DE
JANEIRO BRANCH)

Ronaldo Rayes
RAYES & FAGUNDES
ADVOGADOS
Gabriella Reao
ULHÔA CANTO, REZENDE E
GUERRA-ADVOGADOS
Clarissa Rebello
LEFOSSE ADVOGADOS
Marília Rennó
CHEDIAK, LOPES DA COSTA,
CRISTOFARO, MENEZES CÔRTES,
RENNÓ E ARAGÃO ADVOGADOS
Bruna Rey
VEIRANO ADVOGADOS
Elisa Rezende
VEIRANO ADVOGADOS
Andreza Ribeiro
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS
Juliana Ribeiro
MACHADO, MEYER, SENDACZ E
OPICE ADVOGADOS
Eliane Ribeiro Gago
DUARTE GARCIA, CASELLI
GUIMARÃES E TERRA
ADVOGADOS
Laura Ribeiro Vissotto
1º CARTÓRIO DE NOTAS DE SÃO
JOSÉ DOS CAMPOS
Mariana Rodrigues
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS
Viviane Rodrigues
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS
Marcos Roriz
MACHADO, MEYER, SENDACZ E
OPICE ADVOGADOS
Luis Augusto Roux Azevedo
DE LUCA, DERENUSSON,
SCHUTTOFF E AZEVEDO
ADVOGADOS
José Samurai Saiani
MACHADO, MEYER, SENDACZ E
OPICE ADVOGADOS
Carolina Santos Costa
MACHADO, MEYER, SENDACZ E
OPICE ADVOGADOS
Priscilla Saraiva
ULHÔA CANTO, REZENDE E
GUERRA-ADVOGADOS
Anelise Maria Jircik Sasson
AES ELETROPAULO
Carolina Schreier
KLA-KOURY LOPES ADVOGADOS
Edson Schueler
VEIRANO ADVOGADOS
Sabine Schuttoff
DE LUCA, DERENUSSON,
SCHUTTOFF E AZEVEDO
ADVOGADOS
Lucas Seabra
MACHADO, MEYER, SENDACZ E
OPICE ADVOGADOS
Gabriel Seijo
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS
Erik Sernik
VELLA PUGLIESE BUOSI GUIDONI
Rafael Setoguti Julio Pereira
GASPARINI, DE CRESCI E
NOGUEIRA DE LIMA ADVOGADOS
Donizetti A
...
G
...
Veirano
VEIRANO ADVOGADOS
Anna Carolina Venturini
PINHEIRO NETO ADVOGADOS
Ademilson Viana
DEMAREST E ALMEIDA
ADVOGADOS
Rafael Vitelli Depieri
1º CARTÓRIO DE NOTAS DE SÃO
JOSÉ DOS CAMPOS
Karina Vlahos
DE LUCA, DERENUSSON,
SCHUTTOFF E AZEVEDO
ADVOGADOS
José Carlos Wahle
VEIRANO ADVOGADOS
Eduardo Guimarães Wanderley
VEIRANO ADVOGADOS
Simone Weber
MACHADO, MEYER, SENDACZ E
OPICE ADVOGADOS

Lennon Lee
PWC SINGAPORE
Kelvin Lim
RIDZLAN LIM ADVOCATES &
SOLICITORS

Ralitsa Gougleva
DJINGOV, GOUGINSKI,
KYUTCHUKOV & VELICHKOV
Kristina Gouneva
DOBREV & LYUTSKANOV
Katerina Gramatikova
DOBREV & LYUTSKANOV
Mariya Grigorova
DINOVA RUSEV & PARTNERS
Stefan Gugushev
GUGUSHEV & PARTNERS
Velyana Hristova
PENKOV, MARKOV & PARTNERS
Iliya Iliev
PRIMORSKA AUDIT COMPANY MEMBER OF RUSSELL BEDFORD
INTERNATIONAL
Gergana Ilieva
DOBREV & LYUTSKANOV
Ginka Iskrova
PWC BULGARIA
Vesela Kabatliyska
DINOVA RUSEV & PARTNERS
Angel Kalaidjiev
KALAIDJIEV & GEORGIEV

Karthigeyan Srinivasan
AUTORITI MONETARI BRUNEI
DARUSSALAM

Yavor Kambourov
KAMBOUROV & PARTNERS

Shazali Sulaiman
KPMG

Mina Kapsazova
PWC BULGARIA

Ting Tiu Pheng
ARKITEK TING

Niya Kehayova
CEZ DISTRIBUTION BULGARIA
AD, MEMBER OF CEZ GROUP

Cecilia Wong
TRICOR (B) SDN BHD

Stoina Kirazova
PENEV LLP

BULGARIA
TAX ACCOUNT LTD
...

Plamen Borissov
BORISSOV & PARTNERS
Christopher Christov
PENEV LLP
Maria Danailova
DANAILOVA, TODOROV AND
PARTNERS LAW FIRM

Karin Yamauti Hatanaka
SOUZA, CESCON, BARRIEU &
FLESCH ADVOGADOS

Kostadinka Deleva
GUGUSHEV & PARTNERS

Rena Azlina Abd Aziz
MINISTRY OF FINANCE

Atanas Georgiev
PUBLIC SERVICES OOD

Colin Ong
DR
...


Hristina Kirilova
KAMBOUROV & PARTNERS
Yordan Kostov
LEGALEX LAW OFFICE
Tsvetan Krumov
SCHOENHERR
Stephan Kyutchukov
DJINGOV, GOUGINSKI,
KYUTCHUKOV & VELICHKOV
Roumen Lyutskanov
DOBREV & LYUTSKANOV
Jordan Manahilov
BULGARIAN NATIONAL BANK
Dimitrinka Metodieva
GUGUSHEV & PARTNERS
Slavi Mikinski
LEGALEX LAW OFFICE
Blagomir Minov
TSVETKOVA, BEBOV AND
PARTNERS
Vladimir Natchev
ARSOV NATCHEV GANEVA
Yordan Naydenov
BOYANOV & CO
...

Monika Yaneva
KALAIDJIEV & GEORGIEV

BURKINA FASO
DIRECTION GÉNÉRALE DU
CONTRÔLE DES OPÉRATIONS
D’AMÉNAGEMENT ET DE
CONSTRUCTION
NAVITRANS
Pierre Abadie
CABINET PIERRE ABADIE

Abraham Liadan
PWC CÔTE D’IVOIRE
Adeline Messou
PWC CÔTE D’IVOIRE
Eric N’Guessan
ERNST & YOUNG
André Ouedraogo
CABINET BONKOUNGOU
Martin Ouedraogo
UNION INTERNATIONALE DE
NOTARIAT
N
...
FFOOKS &
CO
...
FFOOKS &
CO
...
Sankara
CABINET MAÎTRE SANKARA
Moussa Sanogo
BCEAO
Hermann Lambert Sanon
GROUPE HAGE
Adama Saouadogo
ONEA
Moussa Ousmane Sawadogo
DIRECTION GÉNÉRALE DES
IMPÔTS
Roland Sow
BOLLORÉ AFRICA LOGISTICS
Dominique Taty
PWC CÔTE D’IVOIRE

Seydou Balama
ETUDE MAÎTRE BALAMA SEYDOU

Moussa Traore
MAISON DE L’ENTREPRISE DU
BURKINA FASO

Euphrasie Bambara
BOLLORÉ AFRICA LOGISTICS

Fousséni Traoré
PWC CÔTE D’IVOIRE

Bassambie Bationo
BCEAO

Bouba Yaguibou
SCPA YAGUIBOU & YANOGO

Dieudonne Bonkoungou
CABINET BONKOUNGOU

Emmanuel Yehouessi
BCEAO

Patrick D
...
, LTD
...
LTD
...
, LTD
...
LTD
...
ADVOCATES

Solange Furtado Sanches
SF&LB, SOCIEDADE DE
ADVOGADOS, RL

Sim Hongseang
VDB LOI

Alice Nijimbere
MKONO & CO
...
ADVOCATES
Montfort Nininahazwe
SEACO
Gustave Niyonzima
MKONO & CO
...

Happy Hervé Ntwari
MKONO & CO
...

Sophorne Kheang
DFDL MEKONG (CAMBODIA)
CO
...

Chan Kosal
ACLEDA BANK PLC
...
, LTD
...
, LTD
...
ADVOCATES

Charya Chum
ARBITRATION COUNCIL
FOUNDATION

João Pereira
FPS

Gilbert L
...
Nyatanyi
ENSAFRICA BURUNDI LIMITED

Miafo Bonny Bonn
BONNY BONN ENTERPRISES

Liza Helena Vaz
PWC PORTUGAL

Phanin Cheam
MUNICIPALITY OF PHNOM PENH
BUREAU OF URBAN AFFAIRS

Joana Gomes Rosa
ADVOCACIA - CONSULTORIA

Borapyn Py
DFDL MEKONG (CAMBODIA)
CO
...


Salvador Varela
MJM ADVOGADOS

Vasco Carvalho Oliveira Ramos
ENGIC ENGENHEIROS
ASSOCIADOS LDA

Charles Nihangaza

Hiol Bonheur
FIDUCIAIRE RATIO

Kry Rattanak
ROYAL ACADEMY FOR JUDICIAL
PROFESSIONS

Rodrigue Majambere
BNM & CO
...
ADVOCATES

Allen Prak
P&A ASIA LAW FIRM

Sophea Sin
BNG LEGAL
Billie Jean Slott
SCIARONI & ASSOCIATES
Lor Sok
ARBITRATION COUNCIL
FOUNDATION
Pheang Sokvirak
PWC CAMBODIA
Samnangvathana Sor
ARBITRATION COUNCIL
FOUNDATION
Vannaroth Sovann
BNG LEGAL
Sokmeth Srey
ARBITRATION COUNCIL
FOUNDATION
Samnang Sun
SCIARONI & ASSOCIATES
Ousaphea Suos
ACLEDA BANK PLC
...


Atsishi Fon Ndikum
FON-NDIKUM & PARTNERS

Garry Wood
CREDIT BUREAU (CAMBODIA)
CO
...


Esah Fondu Fomenky
FON-NDIKUM & PARTNERS

Potim Yun
VDB LOI

CAMEROON
Roland Abeng
THE ABENG LAW FIRM
Tabi Adele Mah
FON-NDIKUM & PARTNERS
Rosine Pauline Amboa
MOJUFISC MONDE JURIDIQUE
ET FISCAL
Abel Epse Piskopani Armelle
Silvana
MOJUFISC MONDE JURIDIQUE
ET FISCAL
Queenta Asibong
THE ABENG LAW FIRM

Sophea Om
ACLEDA BANK PLC
...
, LTD
...
FFOOKS &
CO
...
Humphries
TORONTO CITY HALL
Jordan Knowles
BLAKES, CASSELS & GRAYDON
LLP, MEMBER OF LEX MUNDI
Joshua Kochath
COMAGE CONTAINER LINES
Christopher Kong
PWC CANADA
May Luong
BORDEN LADNER GERVAIS LLP
Catherine MacInnis
BLANEY MCMURTRY, LLP
Alena Makavets
PWC CANADA
Terry McCann
MLG ENTERPRISES LTD
...
Levin
FASKEN MARTINEAU DUMOULIN
LLP

Amir Tajkarimi
NATIONAL BANK OF CANADA
Karl J
...


Charlotte Cameron
TORYS LLP

Jean Christophe Bakossa
L’ORDRE CENTRAFRICAIN DES
ARCHITECTES
Paul Bangonalia
GUICHET UNIQUE DE
FORMALITÉS DES ENTREPRISES
(GUFE)

Gaynor Roger
SHIBLEY RIGHTON LLP

TRANSUNION CANADA

Elois Anguimate
MINISTÈRE DE LA FONCTION
PUBLIQUE DU TRAVAIL, DE
LA SÉCURITÉ SOCIALE ET DE
L’EMPLOI

Paul Gasparatto
ONTARIO ENERGY BOARD

Eliane Yomsi
KARVAN FINANCE

CANADA
TORONTO HYDRO

CENTRAL AFRICAN
REPUBLIC

Désiré Blaise Dinguita
GUICHET UNIQUE DE
FORMALITÉS DES ENTREPRISES
(GUFE)
Massamba Firmin
AUDIT & REVISION COMPTABLE
CABINET LAWSON & ASSOCIES
Philippe Fouda Fouda
BEAC CAMEROON
Dolly Gotilogue
AVOCATE À LA COUR
Marious Guibaut Metongo
BOLLORÉ AFRICA LOGISTICS EN
RÉPUBLIQUE CENTRAFRICAINE
Laurent Hankoff
ENERCA (ENERGIE
CENTRAFRICAINE)
Jean Paul Maradas Nado
MINISTÈRE DE L’URBANISME
Mauricette Monthe-Psimhis
CABINET D’AVOCATS & JURISTES
ASSOCIÉS
Jacob Ngaya
MINISTÈRE DES FINANCES
- DIRECTION GÉNÉRALE DES
IMPÔTS ET DES DOMAINES
Hoby Harinirina Rakotoniary
CABINET JOHN W
...
, MEMBER OF BOWMAN
GILFILLAN AFRICA GROUP
Sariaka Randrianarisoa
CABINET JOHN W
...
, MEMBER OF BOWMAN
GILFILLAN AFRICA GROUP
François Sabegala
GUICHET UNIQUE DE
FORMALITÉS DES ENTREPRISES
(GUFE)
Venant Paul Sadam
CABINET D’AVOCATS & JURISTES
ASSOCIÉS
Jonas Zonaita
GUICHET UNIQUE DE
FORMALITÉS DES ENTREPRISES
(GUFE)

CHAD
CABINET JOHN W
...
, MEMBER OF BOWMAN
GILFILLAN AFRICA GROUP
Dana Abdelkader Waya
CABINET NOTARIAL BONGORO
Adoum Daoud Adoum Haroun
SCGADA ET FILS
Abdelkerim Ahmat
SDV LOGISTICS
Théophile B
...
Djiraibe
AVOCATE À LA COUR

Raimundo Camus
YRARRÁZAVAL, RUIZ-TAGLE,
GOLDENBERG, LAGOS & SILVA

Francis Kadjilembaye
CABINET THOMAS DINGAMGOTO

Miguel Capo Valdes
BESALCO SA

Gérard Leclaire
ARCHITECTURAL

Héctor Carrasco
SUPERINTENDENCIA DE BANCOS
Y INSTITUCIONES FINANCIERAS
CHILE

Moustapha Ali Moustapha
MINISTÈRE DE LA JUSTICE
GARDE DES SCEAUX - TRIBUNAL
DE COMMERCE DE N’DJAMENA
Hayatte N’Djiaye
PROFESSION LIBÉRALE
Issa Ngarmbassa
ETUDE ME ISSA NGAR MBASSA
Benga Nomen Christopher
EXPRESS CARGO
Joseph Pagop Noupoué
ERNST & YOUNG
Tchouafiene Pandare
CABINET NOTARIAL BONGORO
Nissaouabé Passang
ETUDE ME PASSANG
Ahmat Senoussi
ARCHITECTURAL
Amos D
...

PHILIPPI, YRARRAZAVAL, PULIDO
& BRUNNER, ABOGADOS LTDA
Felipe Rencoret
URENDA, RENCORET, ORREGO
Y DÖRR
Alfonso Reymond Larrain
REYMOND & FLEISCHMANN
ABOGADOS
Ricardo Riesco
PHILIPPI, YRARRAZAVAL, PULIDO
& BRUNNER, ABOGADOS LTDA
Constanza Rodriguez
PHILIPPI, YRARRAZAVAL, PULIDO
& BRUNNER, ABOGADOS LTDA

Bjarne Bauer
SOFIA GROUP

Grace Geng
ZHONG LUN LAW FIRM

Xiao Ma
FANGDA PARTNERS

Stephen Ye
ZHONG LUN LAW FIRM

Ashley Gong
NORONHA ADVOGADOS

Jonathan Mok
ANGELA WANG & CO
...


Lawrence Linjun Guo
JADE & FOUNTAIN PRC
LAWYERS

Peter Ng
PWC CHINA

Yong Hai
BAKER & MCKENZIE
Shuquan He
SHANGHAI UNIVESITY
Huizhong Hu
BEIJING HUANZHONG &
PARTNERS
Shan (Vivienne) Jin
KING & WOOD MALLESONS
LAWYERS
Jiang Junlu
KING & WOOD MALLESONS
LAWYERS
Edward E
...

Michael Feng
DELMAR
Cindy Gao
DELMAR

Xiabinyu Lu
JUN HE LAW OFFICE, MEMBER
OF LEX MUNDI
Hongli Ma
JUN HE LAW OFFICE, MEMBER
OF LEX MUNDI

Giovanni Pisacane
GWA GREATWAY ADVISORY
Lori Qi
BYC
Han Shen
DAVIS POLK & WARDWELL
Tina Shi
MAYER BROWN JSM
Rachel Song
KING & WOOD MALLESONS
LAWYERS
Sophie Su
HOGAN LOVELLS
Ice Sun
PWC CHINA

Natalie Yu
SHU JIN LAW FIRM
Xia Yu
MMLC GROUP
Jianan Yuan
JUN HE LAW OFFICE, MEMBER
OF LEX MUNDI
Qiong Yuan
JUN HE LAW OFFICE, MEMBER
OF LEX MUNDI
Bing Zhai
JUN HE LAW OFFICE, MEMBER
OF LEX MUNDI
Sarah Zhang
HOGAN LOVELLS
Yi Zhang
KING & WOOD MALLESONS
LAWYERS

Peng Tan
FANGDA PARTNERS

George Zhao
KING & WOOD MALLESONS
LAWYERS

Terence Tung
MAYER BROWN JSM

Alina Zhu
ZHONG LUN LAW FIRM

Rico W
...
Chan
BAKER & MCKENZIE HONG
KONG

Jiong Zhu

Angela Wang
ANGELA WANG & CO
...

Jaime Mauricio Angulo
Sanchez
EXPERIAN - DATACRÉDITO
Santiago Arango
JOSE LLOREDA CAMACHO & CO
...

CAMPUZANO
Wilson Camilo Cantor Pulido
GÓMEZ-PINZÓN ZULETA
ABOGADOS SA
Darío Cárdenas
CÁRDENAS & CÁRDENAS
Natalia Caroprese
JOSE LLOREDA CAMACHO & CO
...

Luis Miguel Carvajal
CODENSA SA ESP
Mauricio Castillo Benitez
BURÓ DE CRÉDITO CIFIN SA
Natalia Carolina Chávez
Moncada
PARRA RODRÍGUEZ SANÍN SAS

Santiago Gutiérrez
JOSE LLOREDA CAMACHO & CO
...

Juan Camilo Medina Contreras
PWC COLOMBIA
Luis Mendoza
JOSE LLOREDA CAMACHO & CO
...

Ana Lucia Fernandez de Soto
POSSE HERRERA RUIZ
Jairo Flechas
GENELEC DE COLOMBIA SAS
María Fernanda Florez
POSSE HERRERA RUIZ
Ventura Jimmy Fonseca Díaz
ALMAVIVA GLOBAL CARGO SA
Carlos Fradique-Méndez
BRIGARD & URRUTIA, MEMBER
OF LEX MUNDI
Carlos Frieri
SOCIEDAD PORTUARIA REGIONAL
DE CARTAGENA
Wilman Garzón
CODENSA SA ESP
Yaneth Gómez
ALPINA PRODUCTOS
ALIMENTICIOS SA

Juan Carlos Moreno Peralta
RODRÍGUEZ, RETAMOSO &
ASOCIADOS SAS
Francisco Javier Morón López
PARRA RODRÍGUEZ SANÍN SAS
Julian Motta
CAVELIER ABOGADOS
Nydia Constanza Muñoz Vivas
ALTEA FARMA
Caterine Noriega Cardenas
GESTIÓN LEGAL COLOMBIA
Juan Sebastian Noriega
Cardenas
GESTIÓN LEGAL COLOMBIA
Tonia Orozco
BRIGARD & URRUTIA, MEMBER
OF LEX MUNDI
Adriana Carolina Ospina
Jiménez
BRIGARD & URRUTIA, MEMBER
OF LEX MUNDI
Jorge Osuna Díaz
GESTIÓN INTEGRAL ELÉCTRICA
- GIE

Diana Talero
SUPERINTENDENCY OF
CORPORATION

Abdoulbastoi Moudjahidi

Luis Daniel Tamara
ALMAVIVA GLOBAL CARGO SA

Farahati Moussa
MOUVEMENT DES
ENTREPRENEURS COMORIENS
(MODEC)

Diego Munoz Tamayo
MUÑOZ TAMAYO & ASOCIADOS

Ibrahim A
...


Said Mohamed Nassur
ENERGIE COMOROS

Christian Pérez
JOSE LLOREDA CAMACHO & CO
...

Natalia Eugenia Quijano Uribe
CODENSA SA ESP
Juan Sebastián Reina Zapata
SOCIEDAD PORTUARIA REGIONAL
DE CARTAGENA
María Cristina Reyes
BIOTECNO
Luisa Rico Sierra
MUÑOZ TAMAYO & ASOCIADOS
Adrián Rodriguez
LEWIN & WILLS ABOGADOS
Liliana Rodriguez
RODRÍGUEZ, RETAMOSO &
ASOCIADOS SAS
Iván Rodríguez
PARRA RODRÍGUEZ SANÍN SAS
Jaime Alberto Rodríguez
Cuestas
NOTARÍA 13 DE BOGOTÁ
Bernardo Rodriguez Ossa
PARRA RODRÍGUEZ SANÍN SAS
Sonia Elizabeth Rojas Izaquita
GALLO MEDINA ABOGADOS
ASOCIADOS
Cristina Rueda Londoño
PRIETO & CARRIZOSA SA
Edgar Ruiz
LEWIN & WILLS ABOGADOS
Juan Carlos Salazar Barragan
CURADURIA URBANA 4
Juan Diego Saldarriaga L
LEWIN & WILLS ABOGADOS
Paula Samper Salazar
GÓMEZ-PINZÓN ZULETA
ABOGADOS SA
Jose Rafael San Miguel Roldán
INSTITUTO COLOMBIANO
AGROPECUARIO
Edna Sarmiento
CAVELIER ABOGADOS

Ketty Valbuena Yamhure
BURÓ DE CRÉDITO CIFIN SA
Diana Vaughan
LEWIN & WILLS ABOGADOS
Frank Velandia
TECLOGIC LTDA
Patricia Vergara
GÓMEZ-PINZÓN ZULETA
ABOGADOS SA
Ismael Visbal
BAKER & MCKENZIE
Adriana Zapata
CAVELIER ABOGADOS
Alberto Zuleta
CARDENAS & CARDENAS
Diana Zuleta
PARRA RODRÍGUEZ SANÍN SAS

COMOROS
UCCIA - UNION DES CHAMBRES
DE COMMERCE, D’INDUSTRIE, ET
D’AGRICULTURE DES COMORES
Muhammad Abdallah Halifa
GROUPE HASSANATI SOILIHI GROUPE HASOIL
Issiaka Abdourazak
ETUDE MAÎTRE ABDOURAZAK
Hilmy Aboudsaid
COMORES CARGO
INTERNATIONAL
Yassian Ahamed
DIRECTION DE L’ENERGIE
Bahassani Ahmed
CABINET D’AVOCAT BAHASSANI
Omar Said Allaoui
E
...
D
...

Mouzaoui Amroine
COMMISSION NATIONALE DE
PRÉVENTION ET DE LUTTE
CONTRE LA CORRUPTION
(CNPLC)

Marco Raymond
Faouzia Said Soilihi
ANPI INVEST IN COMOROS
Daoud Saidali Toihiri
ANPI INVEST IN COMOROS

CONGO, DEM
...

CABINET D’ARCHITECTE MARC
PERAZZONE
Barry Abdourahmane
SDV LOGISTICS
Michel Alenda
KLAM & PARTNERS AVOCATS
Yves Aloni Mukoko
UNIVERSITÉ DE KINSHASA
Salavatrice Bahindwa Bahati
ETUDE KABINDA - CABINET
D’AVOCATS
Max Bandu Ngongala
KPMG
Lucien Basubi
KPMG
Jean Timothée Bisimwa
PROVINCIAL COMMISSION
Jean Adolphe Bitenu
ANAPI
Hugo Bolanshi
YAV & ASSOCIATES
Guillaume Bononge Litobaka
ROCAT SPRL
Nicaise Chikuru Munyiogwarha
CHIKURU & ASSOCIÉS
Victor Créspel Musafiri
CABINET D’AVOCAT JCC&A
Jean-Paul Dambana
SOCODAM LTD
...


Youssouf Ismael
DIRECTION GÉNÉRALE DES
IMPÔTS

Cristina Stiefken
LEWIN & WILLS ABOGADOS
Juan Reinaldo Suarez
CURADURIA URBANA 1
Raúl Alberto Suárez Arcila
SUÁREZ ARCILA & ABOGADOS
ASOCIADOS

Patou Ikoko Tangamu
BANQUE CENTRALE DU CONGO
Lydie Isengingo Luanzo
BARREAU DE KINSHASA/MATETE

Madiane Mohamed Issa
LAWYER

Ida Jiazet
KLAM & PARTNERS AVOCATS

Mohamed Mbechezi
CODETRANS

Samuel Josso
PWC CONGO (DEMOCRATIC
REPUBLIC OF)

Abdoulatuf Moissuli
ANPI INVEST IN COMOROS

Rene Kala Konga
EGEC

267

268

DOING BUSINESS 2015

Gaston Kalambay Lumpungu
UNIVERSITÉ DE KINSHASA

Christine Mpunga Tshim
BANQUE CENTRALE DU CONGO

Nicky Kanyiki Katshindi
PROCREDIT BANK

Pierre Msimba
CABINET DJUNGA & RISASI

Benoit Kapila
SDV LOGISTICS

Céléstine Mukalay Kionde
SOCIÉTÉ NATIONALE
D’ELECTRICITÉ (SNEL)

Dieudonné Kasuva
AL HEELAM TOURS & TRAVELS
Robert Katambu
CABINET LUBALA & ASSOCIÉS
Onezime Kaunda
REGISTRE COMMERCE ET CREDIT
IMMOBILIER
Gracia Kavumvula
MINISTÈRE DES AFFAIRES
FONCIÈRES
Pierre Kazadi Tshibanda
CABINET MASAMBA
Arly Khuty
CABEMERY & ASSOCIATES
Dolores Sonia Kimpwene
ETUDE KABINDA - CABINET
D’AVOCATS
Baby Kitoko
EXPERTS FREIGHT - RDC
Marc Kongomayi Mulumba
SOCIÉTÉ NATIONALE
D’ELECTRICITÉ (SNEL)
Christ Kuty
CABEMERY & ASSOCIATES
Richard Léonard Lomami
SDV LOGISTICS
Jules Wemby Lofudu
MINISTÈRE DE L’ENSEIGNEMENT
SUPÉRIEUR, INSTITUT
SUPÉRIEUR D’ARCHITECTURE ET
D’URBANISME
Christophe Louise-Julie
PWC CONGO (DEMOCRATIC
REPUBLIC OF)

Mathias Essereke
CABINET D’AVOCATS MATHIAS
ESSEREKE

Monica Castillo Quesada
CÁMARA COSTARRICENSE DE LA
CONSTRUCCIÓN

Philippe Fouda Fouda
BEAC CAMEROON

Silvia Chacon
SOLEY, SABORIO & ASOCIADOS

Joe Pépin Foundoux
PWC

Margot Chinchilla
SOCIACO

Freddy Mulamba Senene
CENTRE D’ARBITRAGE DU
CONGO

Gaston Gapo
ATELIER D’ARCHITECTURE ET
D’URBANISME

Andrey Dorado
ARIAS & MUÑOZ

Kisolokele Mvete
GUICHET UNIQUE DE CREATION
D’ENTREPRISE

Maria Eduarda de Lemos
Godinho
MIRANDA CORREIA AMENDOEIRA
& ASSOCIADOS - SOCIEDADE DE
ADVOGADOS RL

Philippe Mvita Kabasele
BANQUE CENTRALE DU CONGO
Gabriel Mwepu Numbi
DIRECTION GÉNÉRALE DES
DOUANES ET ACCISES
Ilunga Israel Ndambi
S
...
E
...
SPRL
Felly Ngobila
KLAM & PARTNERS AVOCATS
Victorine Bibiche Nsimba
Kilembe
BARREAU DE KINSHASA/MATETE
Jean-Bienvenu Ntwali
Byavulwa
ETUDE KABINDA - CABINET
D’AVOCATS
Laurent Okitonembo
CABINET DJUNGA & RISASI
Moïse Omar Kanda
B
...
Ouane
KLAM & PARTNERS AVOCATS
Jean-Louis Paquet
ATELIER D’ARCHITECTURE
Jean-Yves Parant
KPMG

Emmanuel Lubala Mugisho
CABINET LUBALA & ASSOCIÉS

Destin Pelete
DHL GLOBAL FORWARDING

Christian Lukusa
KLAM & PARTNERS AVOCATS

Pierre Risasi
CABINET DJUNGA & RISASI

Serge Mwankana Lulu
AVOCAT

Robert Safari Zilarirwa
COMMERCIAL COURT (TRIBUNAL
DE COMMERCE)

Carol Lutaladio
DIRECTION GÉNÉRALE DES
DOUANES ET ACCISES
Vital Lwanga Bizanbila
CABINET VITAL LWANGA
Aubin Mabanza
KLAM & PARTNERS AVOCATS
Béatrice Mabanza
KLAM & PARTNERS AVOCATS
Robert Majambo
YAV & ASSOCIATES
Vita Mampuya
VIM AGENCY
Roger Masamba Makela
CABINET MASAMBA
Aristide Mbayo Makyata
DIRECTION GÉNÉRALE DES
DOUANES ET ACCISES
Paul Mbodi
KPMG
Tanayi Mbuy-Mbiye
CABINET MBUY-MBIYE &
ASSOCIÉS

Freddy Mulamba Senene
MULAMBA & ASSOCIATES LAW
FIRM
Christie Madudu Sulubika
CABINET MADUDU SULUBIKA
William Tsasa
KLAM & PARTNERS AVOCATS
Christian Tshibanda Mulunda
CABINET MASAMBA
Sylvie Tshilanda Kabongo
CABINET MADUDU SULUBIKA
Seraphin Umba
YAV & ASSOCIATES
Willy Vangu Malanda
BUREAU D’ARCHITECTE
Nadine Mundala Walo
CABINET MADUDU SULUBIKA

CONGO, REP
...
FFOOKS &
CO
...
Grahouan
ERNST & YOUNG
Arsène Dablé
SCPA DOGUÉ-ABBÉ YAO &
ASSOCIÉS
Zirignon Constant Delbe
MINISTÈRE DE L’AGRICULTURE
Issa Diabaté
KOFFI & DIABATÉ
Aboubakar-Sidiki Diarrassouba
CLK AVOCATS
Cheick Diop
CABINET DU DOCTEUR CHEICK
DIOP, AVOCATS
Aly Djiohou
IJF CONSEILS JURIDIQUES

ACKNOWLEDGMENTS

Marius Doh
CIE
Laure Dosseh
ETUDE DE MAÎTRE KONE
MAHOUA
Yolande Doukoure Séhinabou
DSY ARCHITECTE
Dorothée K
...


Patricia N’guessan
CABINET JEAN-FRANÇOIS
CHAUVEAU
Jacques Otro
CONSEIL NATIONAL DE L’ORDRE
DES ARCHITECTES
Nanakan Ouattara
MINISTÈRE DE L’AGRICULTURE
Vanja Ramanandraitsiory
CABINET JOHN W
...
, MEMBER OF BOWMAN
GILFILLAN AFRICA GROUP
Sariaka Randrianarisoa
CABINET JOHN W
...
, MEMBER OF BOWMAN
GILFILLAN AFRICA GROUP
Athanase Raux
CABINET RAUX, AMIEN &
ASSOCIÉS

Iva Bjelinski
GLINSKA & MIŠKOVIĆ LTD
...

Zoran Bohaček
CROATIAN BANKING
ASSOCIATION
Maja Zadravec Boloban
EUGEN ZADRAVEC LAW FIRM
Mijo Brković
HROK D
...
O
...
KOFFI

Desire Sampah
NOVELEC SARL

Ivan Ćuk
VUKMIR & ASOCIATES

François Komoin
TRIBUNAL DE COMMERCE

Stephane Sampah
NOVELEC SARL

Fatoumata Konate Toure-B
...

FATOUMATA

Moussa Sanogo
BCEAO

Carla Culi
AGENCY FOR INVESTMENTS AND
COMPETITIVENESS

Guillaume Koffi
CONSEIL NATIONAL DE L’ORDRE
DES ARCHITECTES

Dogbémin Gérard Kone
SCPA NAMBEYA-DOGBEMIN &
ASSOCIES
Mahoua Kone
ETUDE DE MAÎTRE KONE
MAHOUA
Kouassi Kongo Kouadio
BOUYGUES ENERGIES &
SERVICES
Dramane Kouakou
BOLLORÉ AFRICA LOGISTICS
Usher Kouakou
EOLIS
Gilles Kouamé
PWC CÔTE D’IVOIRE
Angèle A
...

Ivan Gjurgjan
GJURGJAN & ŠRIBAR RADIĆ
LAW FIRM
Ana-Maria Gurdulić
LAW FIRM BOŽIĆ AND ŠEGO
Lidija Hanźek
HROK D
...
O
...
O
...

Branimir Iveković
IVEKOVIĆ LAW OFFICE
Vinka Jelavić
AGENCY FOR INVESTMENTS AND
COMPETITIVENESS
Irina Jelčić
HANŽEKOVIĆ & PARTNERS LTD
...

Marko Lovrić
DIVJAK, TOPIĆ & BAHTIJAREVIĆ
Josip Lozančić
TAX ADMINISTRATION
Miran Mačešić
MAČEŠIĆ & PARTNERS,
ODVJETNICKO DRUSTVO
Miroljub Mačešić
MAČEŠIĆ & PARTNERS,
ODVJETNICKO DRUSTVO
Ivan Mandic
ALFASTAN
Ivana Manovelo
MAČEŠIĆ & PARTNERS,
ODVJETNICKO DRUSTVO

Slađana Miočić
AGENCY FOR INVESTMENTS AND
COMPETITIVENESS
Jan Mokos
KORPER & PARTNERI LAW FIRM
Hrvoje Mršić
MINISTRY OF FINANCE
Zeljana Muslim
FINANCIAL AGENCY - CENTER
FOR HITRO
...
O
...

Jelena Orlic
WOLF THEISS
Ana Padjen
MAČEŠIĆ & PARTNERS,
ODVJETNICKO DRUSTVO
Zdenko Pajić
MINISTRY OF JUSTICE
Žana Pedić
MINISTRY OF FINANCE
Tomislav Pedišić
VUKMIR & ASOCIATES
Marija Petrović
DIVJAK, TOPIĆ & BAHTIJAREVIĆ
Nikra Petrović
CITY OF ZAGREB OFFICE
FOR PHYSICAL PLANNING,
CONSTRUCTION OF THE
CITY, UTILITY SERVICES AND
TRANSPORT
Tatjana Pinhak
MINISTRY OF JUSTICE
Krešimir Planinić
PLANINIĆ & PARTNERS
Danijel Pribanić
KN KARANOVIĆ & NIKOLIĆ
Tomislav Poljak
HEP DISTRIBUTION SYSTEM
OPERATOR LTD
...
O
...


Iva Masten
VIDAN ATTORNEYS-AT-LAW
Petra Matas
MATIJEVICH LAW OFFICE
Petar-Pierre Matek
BOARD OF CROATIAN FINANCIAL
SERVICES SUPERVISORY AGENCY
Tin Matić
TIN MATIĆ LAW OFFICE
Andrej Matijevich
MATIJEVICH LAW OFFICE
Ema Menđušić Škugor
DIVJAK, TOPIĆ & BAHTIJAREVIĆ
Danijel Meštrić
MINISTRY OF PHYSICAL
PLANNING AND CONSTRUCTION
Ivanka Mikulinec
MINISTRY OF PHYSICAL
PLANNING AND CONSTRUCTION

Gordan Rotkvić
PWC CROATIA
Boris Šavorić
ŠAVORIĆ & PARTNERS
Slaven Šego
LAW FIRM BOŽIĆ AND ŠEGO
Zvonimir Sever
CROATIAN CHAMBER OF CIVIL
ENGINEERS
Bernard Sihombing
BUDIDJAJA & ASSOCIATES LAW
OFFICES
Dušanka Šimunović
CROATIAN CHAMBER OF
ARCHITECTS
Tea Škarpa
PWC CROATIA
Ana-Marija Skoko
CMS LEGAL

269

270

DOING BUSINESS 2015

Alan Soric
ALAN SORIC & ALEKSANDRA
TOMEKOVIC DUNDA LAW OFFICE

Kypros Chrysostomides
DR
...
CHRYSOSTOMIDES &
CO
...
DEMETRIADES LAW
OFFICE LLC
Eleni Droussioti
DR
...
CHRYSOSTOMIDES &
CO
...
G
...
Eleftheriou
CYPRUS INVESTMENT
PROMOTION AGENCY

Sandra Svaljek
CENTRAL CITY ADMINISTRATION
OF ZAGREB

Elena Frixou
ARTEMIS BANK INFORMATION
SYSTEMS LTD
...

Marin Vuković
DIVJAK, TOPIĆ & BAHTIJAREVIĆ
Gorana Vukušić
LEKO I PARTNERI
ATTORNEYS-AT-LAW
Boris Zelenika
MINISTRY OF JUSTICE
Petar Živković
DIVJAK, TOPIĆ & BAHTIJAREVIĆ

CYPRUS
Zenon Achillides
CYPRUS STOCK EXCHANGE
Olga Adamidou
ANTIS TRIANTAFYLLIDES &
SONS LLC
Alexandros Alexandrou
TORNARITIS LAW FIRM
Achilleas Amvrosiou
ARTEMIS BANK INFORMATION
SYSTEMS LTD
...
P
...

Georgios Karrotsakis
DEPARTMENT OF REGISTRAR
OF COMPANIES AND OFFICIAL
RECEIVER
Spyros G
...

LEGAL CONSULTANTS
Olga Lambrou
MOUAIMIS & MOUAIMIS LLC
Pieris M
...
LLC
Costas Mavrocordatos
PWC CYPRUS

Irene Anastassiou
DR
...
CHRYSOSTOMIDES &
CO
...

ELECTRICAL CONTRACTORS

Michalis Mouaimis
MOUAIMIS & MOUAIMIS LLC

Andreas Andreou
CYPRUS GLOBAL LOGISTICS
Pavlos Aristodemou
HARNEYS ARISTODEMOU
LOIZIDES YIOLITIS LLC
Antonis Charalambous
LIMASSOL MUNICIPALITY
Antonis Christodoulides
PWC CYPRUS

Panayotis Mouaimis
MOUAIMIS & MOUAIMIS LLC
George Mouskides
FOX SMART ESTATE AGENCY
Demetris Nicolaou
HARNEYS ARISTODEMOU
LOIZIDES YIOLITIS LLC
Varnavas Nicolaou
PWC CYPRUS

Stella Papadopoulou
MINISTRY OF INTERIOR
Christos Papamarkides
DELOITTE
Marilou Pavlou
ANTIS TRIANTAFYLLIDES &
SONS LLC
Chrysilios Pelekanos
PWC CYPRUS
Marios Pelekanos
MESARITIS PELEKANOS
ARCHITECTS - ENGINEERS
Costas Petrou
ELECTRICITY AUTHORITY OF
CYPRUS

Tereza Erényi
PRK PARTNERS S
...
O
...

Lukáš Hron
BAKER & MCKENZIE

Ioanna Petrou
PWC CYPRUS

Pavel Jakab
PETERKA & PARTNERS

Maria Petsa
CYPRUS STOCK EXCHANGE

Kateřina Jarolímková
NOTÁŘSKÁ KOMORA ČESKÉ
REPUBLIKY

Yiannos Pipis
NICE DAY DEVELOPMENTS LTD
...
K
...
LLC
Costas Stasopoulos
ELECTRICITY AUTHORITY OF
CYPRUS

Pavla Kopečková Přikrylová
PETERKA & PARTNERS
Filip Košťál
WOLF THEISS RECHTSANWÄLTE
GMBH & CO
...


Petr Kucera
CRIF - CZECH CREDIT BUREAU
AS

Stelios Stylianou
ELECTRICITY AUTHORITY OF
CYPRUS

Lukas Lejcek
BDP-WAKESTONE S
...
O
...
Xenopoulos
XENIOS L
...
O
...

ADVOKÁTNÍ KANCELÁŘ

Pavel Marc
DLA PIPER PRAGUE LLP
Peter Maysenhölder
BNT ATTORNEYS-AT-LAW S
...
O
...


Tomáš Bĕhounek
BNT ATTORNEYS-AT-LAW S
...
O
...
R
...


Morten Bang Mikkelsen
PWC DENMARK

Ivan Chalupa
SQUIRE SANDERS V
...
S
...

Kamila Dankova
WHITE & CASE
Svatava Dokoupilova
CZECH OFFICE FOR SURVEYING,
MAPPING AND CADASTRE

Růžena Trojánková
KINSTELLAR
Daniel Vejsada
PRK PARTNERS S
...
O
...
R
...

Tomáš Volejník
BNT ATTORNEYS-AT-LAW S
...
O
...
POR A
...
Adler Hamlet
REALCO COMPANY LIMITED

Louise Krarup Simonsen
KROMANN REUMERT, MEMBER
OF LEX MUNDI
Thomas Christian Thune
BECH-BRUUN LAW FIRM
Jens Zilstorff
PLESNER LAW FIRM

DJIBOUTI
ELECTRICITÉ DE DJIBOUTI
PIL DJIBOUTI
Mohamed Abayazid Houmed
CABINET AVOCATS ASSOCIÉS
DJIBOUTI
Mohamed Abdi Hassan
CABINET ARKIMED
Ouloufa Ismail Abdo
OFFICE DJIBOUTIEN DE LA
PROPRIÉTÉ INDUSTRIELLE ET
COMMERCIALE (ODPIC)

Foued Issa
ISSA TRADING LTD
...
R
...
Royer
EUGENE G
...
Ramirez
LEGAL EXPORT SRL

Stephania Céspedes
HEADRICK RIZIK ALVAREZ &
FERNÁNDEZ

Jose Antonio Reyes
AGEPORT, AGENTES Y
ESTIBADORES PORTUARIOS

Leandro Corral
ESTRELLA & TUPETE

Nicole Rizik
HEADRICK RIZIK ALVAREZ &
FERNÁNDEZ

José Cruz Campillo
JIMÉNEZ CRUZ PEÑA
Sarah de León Perelló
HEADRICK RIZIK ALVAREZ &
FERNÁNDEZ
Juan Carlos De Moya
GONZÁLEZ & COISCOU
Rosa Díaz
JIMÉNEZ CRUZ PEÑA
Rafael Dickson Morales
DICKSON MORALES - ABOGADOS
| CONSULTORES
Ruben Edmead
MARÍTIMA DOMINICANA
Alejandro Fernández de Castro
PWC DOMINICAN REPUBLIC
Leonel Fernandez Ferreira
AES DOMINICANA
Mary Fernández Rodríguez
HEADRICK RIZIK ALVAREZ &
FERNÁNDEZ
Jose Ernesto Garcia A
...
R
...

Luis J
...

ADAA

Natia Núñez
HEADRICK RIZIK ALVAREZ &
FERNÁNDEZ

Ana Isabel Caceres
TRONCOSO Y CACERES

Luisa Ericka Pèrez Hernàndez
SUPERINTENDENCIA DE BANCOS

Ramón Ortega
PWC EL SALVADOR

Katherine Rosa
JIMÉNEZ CRUZ PEÑA
Fanny Sanchez
GESTIONES ADUANALES SOSA
Francisco Sánchez
CEBALLOS & SÁNCHEZ,
INGENIERÍA Y ENERGÍA, C
...

Georges Santoni Recio
RUSSIN & VECCHI
Elizabeth Silfa
HEADRICK RIZIK ALVAREZ &
FERNÁNDEZ
Carolina Silié
HEADRICK RIZIK ALVAREZ &
FERNÁNDEZ
Martín Sosa
GESTIONES ADUANALES SOSA
Katherine Stefan
JIMÉNEZ CRUZ PEÑA
Michelle Tavares
TOTAL LOGISTICS SOLUTIONS
S
...
L
...

GONZALO DIEZ ARQUITECTOS
Miguel Falconi-Puig
FALCONI PUIG ABOGADOS
Jaime Gordillo
PWC ECUADOR
Arturo Griffin Valdivieso
PÉREZ, BUSTAMANTE Y PONCE,
MEMBER OF LEX MUNDI
Raul Izurieta
IZURIETA MORA BOWEN LAW
Alvaro Jarrín
SUPERINTENDENCIA DE BANCOS
Y SEGUROS
María Isabel Machado
FALCONI PUIG ABOGADOS
Carlos Alberto Maldonado
Terneus
EMPRESA ELÉCTRICA QUITO SA
Juan Manuel Marchán
PÉREZ, BUSTAMANTE Y PONCE,
MEMBER OF LEX MUNDI
Luis Marin-Tobar
PÉREZ, BUSTAMANTE Y PONCE,
MEMBER OF LEX MUNDI
David Najera Obando
FALCONI PUIG ABOGADOS
Francisco Javier Naranjo
Grijalva
PAZ HOROWITZ ROBALINO
GARCÉS ABOGADOS
Priscilla Ortega
ARÍZAGA & CO
...
A
...
CÍA
LTDA - MEMBER OF RUSSELL
BEDFORD INTERNATIONAL
Patricia Ponce Arteta
BUSTAMANTE & BUSTAMANTE
Juan Carlos Proaño
PANALPINA WORLD TRANSPORT
LLP
Manuel Ramos
PWC ECUADOR
Sandra Reed-Serrano
PÉREZ, BUSTAMANTE Y PONCE,
MEMBER OF LEX MUNDI

271

272

DOING BUSINESS 2015

Leonardo Sempértegui
SEMPÉRTEGUI ONTANEDA

Yara Ammar
PWC EGYPT

Ruth Urbano
SEMPÉRTEGUI ONTANEDA

Sherif Ibrahim Ashoor
CENTRAL BANK OF EGYPT

EGYPT, ARAB REP
...


Badawy Ibrahim
CUSTOMS ADMINISTRATION

Ramy Shalash
ABDALLAH SHALASH & CO
...


Frédéric Soliman
TELELAWS

Taha Khaled
BDO, KHALED & CO
...
SAE

Adel Kheir
ADEL KHEIR LAW OFFICE
Lobna Magdy
SHALAKANY LAW OFFICE,
MEMBER OF LEX MUNDI
Mahmoud Magdy
NORTH CAIRO COURT
Mustafa Makram
BDO, KHALED & CO
...
Méndez-Llort
ROMERO PINEDA & ASOCIADOS,
MEMBER OF LEX MUNDI
Ricardo Molina
NOVITAS
Jocelyn Mónico
FRANCISCO JOSE BARRIENTOS
SA DE CV
Fernando Montano
ARIAS & MUÑOZ
Mario Moran
M
...

ATCASAL ASOCIACIÓN DE
TRANSPORTISTAS DE CARGA DE
EL SALVADOR

Angel Mba Abeso
CENTURION LLP

Marko Kairjak
VARUL

Ezequiel Robbe Mbila
CCEI BANK GE

Erica Kaldre
HOUGH, HUTT & PARTNERS OU

Paulino Mbo Obama
OFICINA DE ESTUDIEOS - ATEG

Kadri Kallas
ADVOKAADIBÜROO SORAINEN
AS

Ponciano Mbomio Nvo
GABINETE JURIDICO
Gustavo Ndong
AFRI LOGISTICS
Pierre Ngon
SDV LOGISTICS
Nanda Nzambi
PWC EQUATORIAL GUINEA
Jenaro Obuno Ela
MINISTERIO DE HACIENDA Y
PRESUPUESTO
Jacinto Ona
CENTURION LLP

Meelis Kaps
EESTI ENERGIA JAOTUSVÕRK OÜ
(DISTRIBUTION GRID)
Sander Kärson
VARUL
Katre Kasepold
ESTONIAN LOGISTICS AND
FREIGHT FORWARDING
ASSOCIATION
Triin Kaurson
MAQS LAW FIRM ESTONIA
TALLINN

Geraldine Palma
AES EL SALVADOR

Vincent Tekam

Jevgeni Kazutkin
HOUGH, HUTT & PARTNERS OU

Carlos Pastrana
RESTAURO ELETTRICITÀ È
COSTRUZIONI

ERITREA

Igor Kostjuk
HOUGH, HUTT & PARTNERS OU

Sergio Perez
AES EL SALVADOR
Ana Patricia Portillo Reyes
GUANDIQUE SEGOVIA
QUINTANILLA
Maura Quintanilla
PWC EL SALVADOR
Kelly Beatriz Romero
NASSAR ABOGADOS
Roxana Romero
ROMERO PINEDA & ASOCIADOS,
MEMBER OF LEX MUNDI
Mario Enrique Sáenz
SÁENZ & ASOCIADOS
Jaime Salinas
GARCÍA & BODÁN
Alonso V
...
J
...


Ivo Vanasaun
DELOITTE ADVISORY AS

Kerstin Linnart
RAIDLA LEJINS & NORCOUS

Paul Varul
VARUL

Karin Madisson
ADVOKAADIBÜROO SORAINEN
AS

Peeter Viirsalu
VARUL

Christine Mägi
ATTORNEYS-AT-LAW BORENIUS
Mart Maidla
EESTI ENERGIA JAOTUSVÕRK OÜ
(DISTRIBUTION GRID)
Veiko Meos
KREDIIDIINFO AS
Sandra Metsamärt
ADVOKAADIBÜROO SORAINEN
AS
Jaanus Mody
ATTORNEYS-AT-LAW BORENIUS
Margus Mugu
ATTORNEYS-AT-LAW BORENIUS
Jaana Nõgisto
LAW OFFICE NORDEUS
Sandra-Kristin Noot
RAIDLA LEJINS & NORCOUS
Arne Ots
RAIDLA LEJINS & NORCOUS
Karina Paatsi
ATTORNEYS-AT-LAW BORENIUS
Sven Papp
RAIDLA LEJINS & NORCOUS
Kirsti Pent
LAW OFFICE NORDEUS
Sigrid Polli
DELOITTE ADVISORY AS
Einar Rosin
KPMG BALTICS OÜ
Tuuli Saarits
BNT ATTORNEYS-AT-LAW
ADVOKAADIBÜROO OÜ
Piret Saartee
CENTRE OF REGISTERS &
INFORMATION SYSTEMS

Adugnafirst Lelisa Sime
Tamrat Assefa Liban
TAMRAT ASSEFA LIBAN LAW
OFFICES
Deepak Mathur
ETHIOPIAN ELECTRICAL UTILITY
Tewodros Meheret
ADDIS ABABA UNIVERSITY
Misrak Mengehsa
PACKFORD INTERNATIONAL
Mahlet Mesganaw
MAHLET MESGANAW LEGAL
ADVISORY OFFICE
Hailye Sahle Seifu
Mekdes Shiferaw
GREEN INTERNATIONAL LOGISTIC
SERVICES
Ameha Sime
AMEHA SIME B
...

Mesfin Tafesse
MESFIN TAFESE LAW OFFICE
Eyasu Tequame
JEHOIACHIN TECHNO PVT
...
CO
...


Joel Zernask
KPMG BALTICS OÜ

Eddielin Almonte
PWC FIJI

ETHIOPIA
ERNST & YOUNG
FLINSTONE ENGINEERING
Dagnachew Tesfaye Abetew
DAGNACHEW TESFAYE AND
MAHLET MESGANAW LAW
OFFICE
Siraj Ahmed
PACKFORD INTERNATIONAL
Abdella Ali
ABDELLA ALI LAW OFFICE
Fikadu Asfaw
FIKADU ASFAW AND ASSOCIATES
LAW OFFICE
Teshome Gabre-Mariam Bokan
TESHOME GABRE-MARIAM
BOKAN LAW FIRM
Semere Wolde Bonge
NATIONAL BANK OF ETHIOPIA
Marina Bwile
TESHOME GABRE-MARIAM
BOKAN LAW FIRM
Kumlachew Dagne
Abinet Damtachew
CONSTRUCTION PROXY
Wubetu Gebeyehu
BUNNA INTERNATIONAL BANK
Ephrem Gebru
Berhane Ghebray
BERHANE GHEBRAY &
ASSOCIATES

Jon Apted
MUNRO LEYS
Nehla Basawaiya
MUNRO LEYS
Francesca Boulton
MUNRO LEYS
William Wylie Clarke
HOWARDS LAWYERS
Delores Elliott
DATA BUREAU (FIJI) LIMITED
Lawrence Fung
MUNRO LEYS
Dilip Jamnadas
JAMNADAS AND ASSOCIATES
Jerome Kado
PWC FIJI
Viren Kapadia
SHERANI & CO
...

Hemendra Nagin
SHERANI & CO
...

Rahul Ral
CARPENTERS SHIPPING
Abhi Ram
COMPANIES REGISTRAR
Kamal Reddy
GIBSON FREIGHT INTERNATIONAL

Lauri Jääskeläinen
BUILDING CONTROL
DEPARTMENT OF THE CITY OF
HELSINKI
Pekka Jaatinen
CASTRÉN & SNELLMAN
ATTORNEYS LTD
...


Ronlyn Sahib
SIWATIBAU & SLOAN

Suvi Knaapila
DITTMAR & INDRENIUS

Jagindar Singh
CARPENTERS SHIPPING

Milla Kokko-Lehtinen
PWC FINLAND

Shelvin Singh
SHELVIN SINGH LAWYERS

Markku Korvenmaa
HH PARTNERS, ATTORNEYS-ATLAW LTD
...


FINLAND
Ville Ahtola
CASTRÉN & SNELLMAN
ATTORNEYS LTD
...

Timo Airisto
WHITE & CASE
Petri Avikainen
ASIANAJOTOIMISTO WHITE &
CASE OY
Johanna Ellonen
ROSCHIER ATTORNEYS LTD
...

Esa Halmari
HEDMAN PARTNERS
Pekka Halme
NATIONAL LAND SURVEY OF
FINLAND
Johanna Haltia-Tapio
HANNES SNELLMAN LLC
Joni Hatanmaa
HEDMAN PARTNERS

Arto Kukkonen
HH PARTNERS, ATTORNEYS-ATLAW LTD
...

Tuomas Lukkarinen
NATIONAL LAND SURVEY OF
FINLAND

Mirja Sikander
KROGERUS ATTORNEYS LTD
...


Nassim Ghalimi
VEIL JOURDE

Petri Taivalkoski
ROSCHIER ATTORNEYS LTD
...

Marko Vuori
KROGERUS ATTORNEYS LTD
...

Samuli Woolston
ALA ARCHITECTS

FRANCE
ALLEN & OVERY LLP
MAYER BROWN
Yves Ardaillou
BERSAY ASSOCIES
Nicolas Barberis
ASHURST LLP
Hervé Beloeuvre
CABINET BELOEUVRE
Andrew Booth
ANDREW BOOTH ARCHITECT
Dominique Borde
PAUL HASTINGS

Annamari Männikkö
PWC FINLAND

Franck Buffaud
BUFFAUD - STEPHANE AVOCATS

Kimmo Mettälä
KROGERUS ATTORNEYS LTD
...


Isabelle-Victoria Carbuccia
IVCH PARIS

Marta Monteiro
HANNES SNELLMAN LLC

Georges Cavalier
LANDWELL & ASSOCIÉS

Eeva-Leena Niemelä
ROSCHIER ATTORNEYS LTD
...


Aurélie Chazai
ASHURST LLP

Jenna Nurmio
ASIANAJOTOIMISTO WHITE &
CASE OY
Juha-Pekka Nuutinen
DAMCO FINLAND OY
Maria Parker
PWC FINLAND
Elina Pesonen
CASTRÉN & SNELLMAN
ATTORNEYS LTD
...


Seppo Havia
DITTMAR & INDRENIUS

Peter Salovaara
ATTORNEYS-AT-LAW JURIDIA
BÜTZOW LTD
...


Petri Seppälä
PWC FINLAND

Anne-Priscille Coulot
LANDWELL & ASSOCIÉS
Patricia de Suzzoni
COMMISSION DE RÉGULATION DE
L’ENERGIE
Stéphanie Dubreuil
JONES DAY PARIS
Segolene Dufetel
MAYER BROWN
Jean-Marc Dufour
FRANCE ECOMMERCE
INTERNATIONAL

Willy Giacchino
CONSEIL SUPÉRIEUR DU
NOTARIAT (PARIS)
Thierry Gomot
BANQUE DE FRANCE
Pierre-Edouard Gondran de
Robert
GONDRAN DE ROBERT AVOCATS
Régine Goury
MAYER BROWN
Kevin Grossmann
CABINET KEVIN GROSSMANN
Philippe Guibert
FIEEC
Jérôme Halphen
DLA PIPER UK LLP
Laurent Karila
KARILA
Didier Laffaille
COMMISSION DE RÉGULATION DE
L’ENERGIE

Jean Tarrade
CONSEIL SUPÉRIEUR DU
NOTARIAT (PARIS)
Martin Vergier
COMMISSION DE RÉGULATION DE
L’ENERGIE
François Vergne
GIDE LOYRETTE NOUEL, MEMBER
OF LEX MUNDI
Philippe Xavier-Bender
GIDE LOYRETTE NOUEL, MEMBER
OF LEX MUNDI
Stephane Zecevic
LES NOTAIRES DU QUAI
VOLTAIRE
Claire Zuliani
TRANSPARENCE - MEMBER
OF RUSSELL BEDFORD
INTERNATIONAL

GABON
CABINET JOHN W
...
, MEMBER OF BOWMAN
GILFILLAN AFRICA GROUP
CHAMBER OF COMMERCE
MUNICIPALITÉ DE LIBREVILLE

Mohamed Lanouar
B L & ASSOCIÉS - MEMBER OF
DLA PIPER AFRICA

Itchola Mano Alade
CABINET D’AVOCATS ITCHOLA &
ABGANRIN

Daniel Arthur Laprès
AVOCAT À LA COUR D’APPEL
DE PARIS

Henri Bernhardt
NECOTRANS - GETMA GABON

Vanessa Li
DLA PIPER UK LLP
Florian Linditch
GONDRAN DE ROBERT AVOCATS
Olivier Lopez
YDES AVOCATS
Marion Lucas
CABINET ELBAZ
Wladimir Mangel
MAYER BROWN
Nathalie Morel
MAYER BROWN
Jerome Orsel
DB SCHENKER
Arnaud Pelpel
PELPEL AVOCATS
Thomas Philippe
MAYER BROWN
Nathalène Pierard
GONDRAN DE ROBERT AVOCATS
Vanessa Raindre
TRANSPARENCE - MEMBER
OF RUSSELL BEDFORD
INTERNATIONAL
Alexandre Riou
GONDRAN DE ROBERT AVOCATS
Nicolas Rontchevsky
LAWYER & PROFESSOR
Philippe Roussel-Galle
Hugues Roux
BANQUE DE FRANCE

Madeleine Berre
DELOITTE JURIDIQUE ET FISCAL
Daniel Chevallon
MATELEC
Gilbert Erangah
ETUDE MAÎTRE ERANGAH
Augustin Fang
CABINET AUGUSTIN FANG
Philippe Fouda Fouda
BEAC CAMEROON
Anne Gey Bekale
ETUDE MAÎTRE GEY BEKALE
Maria Eduarda de Lemos
Godinho
MIRANDA CORREIA AMENDOEIRA
& ASSOCIADOS - SOCIEDADE DE
ADVOGADOS RL
Michael Jeannot
MATELEC
Alexander Juen
PANALPINA WORLD TRANSPORT
Athanase Ndoye Loury
SYNDIC JUDICIAIRE
Ana Margarida Maia
MIRANDA CORREIA AMENDOEIRA
& ASSOCIADOS - SOCIEDADE DE
ADVOGADOS RL
Pélagie Massamba Mouckocko
PRICEWATERHOUSECOOPERS
TAX & LEGAL SA
Jean-Joel Mebaley
DESTINY EXECUTIVES
ARCHITECTS - AGENCE DU BORD
DE MER

Odile Dupeyré
LUSIS AVOCATS

Emmanuel Schulte
BERSAY ASSOCIES

Philippe Durand
LANDWELL & ASSOCIÉS

Maxime Simonnet
DENTONS

Benoit Fauvelet
BANQUE DE FRANCE

Johannes Singelnstein
RACINE AVOCATS

Jean-Pierre Ferret
CONSEIL SUPÉRIEUR DU
NOTARIAT (PARIS)

Isabelle Smith Monnerville
SMITH D’ORIA

François Nguema Ebane
CABINET ATELIER 5A

Lionel Spizzichino
PAUL HASTINGS

Lubin Ntoutoume
CABINET SCP NTOUTOUME ET
MEZHER

Lionel Galliez
CONSEIL SUPÉRIEUR DU
NOTARIAT (PARIS)

Jean Svasta
MAYER BROWN

Jean Hilaire Moussavou
FUMU TECHNOLOGIE
Célestin Ndelia
ETUDE MAÎTRE NDELIA CÉLESTIN
Ruben Mindonga Ndongo

ACKNOWLEDGMENTS

Josette Cadie Olendo
Laurent Pommera
PRICEWATERHOUSECOOPERS
TAX & LEGAL SA
Christophe A
...
K
...

Amie N
...
Bensouda
AMIE BENSOUDA & CO
...
LIMITED LAW
OFFICES
Lily Begiashvili
GEORGIA REVENUE SERVICE
Nino Berianidze
MINISTRY OF ECONOMY AND
SUSTAINABLE DEVELOPMENT
Revaz Beridze
ERISTAVI LAW GROUP
Nino Bezhitashvili
MINISTRY OF ECONOMY AND
SUSTAINABLE DEVELOPMENT
Giorgi Chichinadze
MINISTRY OF ECONOMY AND
SUSTAINABLE DEVELOPMENT

Aieti Kukava
ALLIANCE GROUP HOLDING

Tom Braegelmann
DLA PIPER UK LLP

Tea Loladze
MINISTRY OF ECONOMY AND
SUSTAINABLE DEVELOPMENT

Michael Brems
CLEARY GOTTLIEB STEEN &
HAMILTON LLP

Eteri Mamukelashvili
MINISTRY OF ECONOMY AND
SUSTAINABLE DEVELOPMENT

Thomas Büssow
PWC GERMANY

Sabine Malik
SCHUFA HOLDING AG

Lorenz Czajka
GRAF VON WESTPHALEN
RECHTSANWÄLTE
PARTNERSCHAFT

Thomas Stefan Malik
HEUSSEN
RECHTSANWALTSGESELLSCHAFT
MBH

Andreas Eckhardt
PRICEWATERHOUSECOOPERS
LEGAL AKTIENGESELLSCHAFT
RECHTSANWALTSGESELLSCHAFT

Nora Matthaei
AVOCADO LAW

Elene Mebonia
LEGAL PARTNERS ASSOCIATED
(LPA) LLC
Ekaterina Meskhidze
NATIONAL AGENCY OF PUBLIC
REGISTRY
Roin Migriauli
LAW OFFICE MIGRIAULI &
PARTNERS
Nino Mirtskhulava
APM TERMINALS POTI
Kakhaber Nariashvili
Sophio Natroshvili
BGI LEGAL
Lasha Nodia
NODIA, URUMASHVILI &
PARTNERS

Dieter Endres
PWC GERMANY
Tina Maria Erhardt
HEUSSEN
RECHTSANWALTSGESELLSCHAFT
MBH
Alexander Freiherr von Aretin
GRAF VON WESTPHALEN
RECHTSANWÄLTE
PARTNERSCHAFT

Zviad Chkhartishvili
APM TERMINALS POTI

Tampa Nutsubidze
BEGIASHVILI & CO
...
Goetzmann
C·B·H RECHTSANWÄLTE

Badjie Ismaila

Teymuraz Gamrekelashvili
TELASI

Tamta Otiashvili
MINISTRY OF ECONOMY AND
SUSTAINABLE DEVELOPMENT

Ida Denise Drameh
IDA D
...

Cherno Alieu Jallow
DT ASSOCIATES, INDEPENDENT
CORRESPONDENCE FIRM OF
DELOITTE TOUCHE TOHMATSU
LIMITED
Lamin S
...
Joof
S
...
JOOF AGENCY
Nani Juwara
NATIONAL WATER AND
ELECTRICITY COMPANY LTD
...


Revaz Javelidze
COLIBRI LAW FIRM
David Kakabadze
COLIBRI LAW FIRM

Lang Sabally
NATIONAL WATER AND
ELECTRICITY COMPANY LTD
...


Andrea Gruss
MERGET + PARTNER
Klaus Günther
OPPENHOFF & PARTNER
Marc Alexander Häger
OPPENHOFF & PARTNER

David Sukiasov
ELECO LTD
...
HÖK STIEGLMEIER &
PARTNER

Nino Tsaturova
LEGAL PARTNERS ASSOCIATED
(LPA) LLC
Besik Tsimakuridze
Vakhtang Tsintsadze
MINISTRY OF ECONOMY AND
SUSTAINABLE DEVELOPMENT
Samson Uridia
GEORGIA REVENUE SERVICE
Zviad Voshakidze
TELASI

GERMANY
Stephan Bank
CLEARY GOTTLIEB STEEN &
HAMILTON LLP

Ralph Hummel
AVOCADO LAW

Werner Meier
KING & SPALDING LLP
Daniel Meier-Greve
PRICEWATERHOUSECOOPERS
LEGAL AKTIENGESELLSCHAFT
RECHTSANWALTSGESELLSCHAFT
Dirk Otto
GOBBERS & DENK
Oliver Otto
DLA PIPER UK LLP
Laura Pfirrmann
CLEARY GOTTLIEB STEEN &
HAMILTON LLP
Marlena Polic
PRICEWATERHOUSECOOPERS
LEGAL AKTIENGESELLSCHAFT
RECHTSANWALTSGESELLSCHAFT
Thomas Poss
LATHAM & WATKINS LLP
Sebastian Prügel
WHITE & CASE
Alexander Rahn
CLEARY GOTTLIEB STEEN &
HAMILTON LLP
Wilhelm Reinhardt
LATHAM & WATKINS LLP
Sebastian Reinsch
JANKE KÖNNECKE NAUJOK
Alexander Reus
DIAZ REUS & TARG LLP
Philipp Ruehland
PRICEWATERHOUSECOOPERS
LEGAL AKTIENGESELLSCHAFT
RECHTSANWALTSGESELLSCHAFT
Johannes Schmidt
CLEARY GOTTLIEB STEEN &
HAMILTON LLP
Sarah-Lena Schmidt
CLEARY GOTTLIEB STEEN &
HAMILTON LLP

Peter Jark
DLA PIPER UK LLP

Dietmar Schulz
DLA PIPER UK LLP

Helmuth Jordan
JORDAN & WAGNER
RECHTSANWALTSGESELLSCHAFT
MBH

Volker Schwarz
HEUSSEN
RECHTSANWALTSGESELLSCHAFT
MBH

Adnan Kapoor
ASHURST LLP

Thomas Strassner
ORRICK, HERRINGTON &
SUTCLIFFE LLP

Andreas Keller
DLA PIPER UK LLP

Maren Beneke
DLA PIPER UK LLP
Henning Berger
WHITE & CASE

Henrik Kirchhoff
GSK STOCKMANN + KOLLEGEN

Anastasia Kipiani
PWC GEORGIA

Eva Bergmann
SCHUFA HOLDING AG

Victor Kipiani
MGALOBLISHVILI, KIPIANI,
DZIDZIGURI (MKD) LAW FIRM

Jennifer Bierly
GSK STOCKMANN + KOLLEGEN

Thorsten Korder
LOGWIN AIR & OCEAN
DEUTSCHLAND GMBH

Simeon-Tobias Bolz
HEUSSEN
RECHTSANWALTSGESELLSCHAFT
MBH

Roland Maaß
LATHAM & WATKINS LLP

Markus Jakoby
JAKOBY RECHTSANWÄLTE

Michael Kern
CLEARY GOTTLIEB STEEN &
HAMILTON LLP

Sergi Kobakhidze
PWC GEORGIA

Peter Limmer
NOTARE DR
...

FRIEDERICH

Jörg Kraffel
WHITE & CASE
Ernst-Otto Kuchenbrandt
DEUTSCHE BUNDESBANK

Tobias Taetzner
PWC GERMANY
Nora Thies
GRAF VON WESTPHALEN
RECHTSANWÄLTE
PARTNERSCHAFT
Arne Vogel
M&P DR
...
Walch
WENDLER TREMML
RECHTSANWÄLTE

Kwadwo Baafi
BOLLORE AFRICA LOGISTICS
GHANA

Felix Tetteh
TOWN AND COUNTRY PLANNING
DEPARTMENT

Torsten Wehrhahn
NOERR LLP, MEMBER OF LEX
MUNDI

Ellen Bannerman
BRUCE-LYLE BANNERMAN &
ASSOCIATES

GREECE

Bernd Weller
HEUKING KÜHN LÜER WOJTEK

Reginald Bannerman
BRUCE-LYLE BANNERMAN &
ASSOCIATES

Hartmut Wicke
NOTARE RUDOLF SPOERER &
DR
...

Stephen Boakye
PWC GHANA
Ras Afful Davis
CLIMATE SHIPPING & TRADING
Anthony Doku
GHANA REVENUE AUTHORITY
Saviour Dzuali
BOLLORE AFRICA LOGISTICS
GHANA
James Fokuoh
BENTSI-ENCHILL, LETSA &
ANKOMAH, MEMBER OF LEX
MUNDI
Frank Fugar
COLLEGE OF ARCHITECTURE AND
PLANNING

GHANA

Abeku Gyan-Quansah
PWC GHANA

Samuel Abiaw
ANDAH AND ANDAH CHARTERED
ACCOUNTANTS

Alwin Hoegerle
GHANA COMMUNITY NETWORK
SERVICES LIMITED

Solomon Ackom
GRIMALDI GHANA LTD
...


George Kingsley Acquah
STANDARD CHARTERED BANK
GHANA LIMITED

Daniel Imadi
BENTSI-ENCHILL, LETSA &
ANKOMAH, MEMBER OF LEX
MUNDI

Afua Addotey
ADD LAW CONSULTANCY
Larry Adjetey
LAW TRUST COMPANY
Benjamin Agbotse
H & G ARCHITECTS AND
CONSULTANTS
George Ahiafor
XDSDATA GHANA LTD
...
O
...
Karatzas
KARATZAS & PARTNERS
Rita Katsoula
POTAMITIS-VEKRIS

Stavros Makris
KYRIAKIDES GEORGOPOULOS
LAW FIRM
Antonis Mantonanakis
PANMONOTIKI PROSTASIA
Evangelos Margaritis
DRAKOPOULOS LAW FIRM
Emmanuel Mastromanolis
ZEPOS & YANNOPOULOS LAW
FIRM, MEMBER OF LEX MUNDI
John Mazarakos
ELIAS PARASKEVAS ATTORNEYS
1933
Effie G
...
PAPACOSTOPOULOS &
ASSOCIATES
Marianna Florou
KARATZAS & PARTNERS
Sophia Fourlari
COURT OF FIRST INSTANCE
Dionyssia I
...
G
...
LLC
Dimitrios Kremalis
KREMALIS LAW FIRM, MEMBER
OF IUS LABORIS
Irene C
...


Dionysios Pantazis
PANTAZIS & ASSOCIATES
Stefanos Pantazis
PANTAZIS & ASSOCIATES
Christina Papachristopoulou
K | P LAW FIRM
Elena Papachristou
ZEPOS & YANNOPOULOS LAW
FIRM, MEMBER OF LEX MUNDI
Konstantinos Papadiamantis
POTAMITIS-VEKRIS
Stavros Papantonis
ACTION AUDITING S
...
- MEMBER
OF RUSSELL BEDFORD
INTERNATIONAL
Alexios Papastavrou
POTAMITIS-VEKRIS
Dimitris E
...


Ioanna Poulakou
ZEPOS & YANNOPOULOS LAW
FIRM, MEMBER OF LEX MUNDI

Thomas Lamnidis
KLC LAW FIRM

Maria Preka
LOGIKA

Konstantinos Logaras
ZEPOS & YANNOPOULOS LAW
FIRM, MEMBER OF LEX MUNDI

Vicky Psaltaki
SARANTITIS LAW FIRM

Panos Lolonis
HELLENIC CADASTRE AND
MAPPING AGENCY
Margarita Louka
KREMALIS LAW FIRM, MEMBER
OF IUS LABORIS
Christos Makris
CONSULTANT & DESIGN
ENGINEER

Mary Psylla
PWC GREECE
Terina Raptis
SARANTITIS LAW FIRM
Kyriaki (Korina) Raptopoulou
KYRIAKIDES GEORGOPOULOS
LAW FIRM
Vasiliki Salaka
KARATZAS & PARTNERS
Theofanis Salatas
DRAKOPOULOS LAW FIRM

ACKNOWLEDGMENTS

Ioannis Sarakinos
ELIAS PARASKEVAS ATTORNEYS
1933

Carlyle Glean Jr
...


Aikaterini Savvaidou
PWC GREECE

Cyrus Griffith
LABOUR DEPARTMENT

Ioannis Skandalis
PWC GREECE

Annette Henry
MINISTRY OF LEGAL AFFAIRS

Nikolaos Stasinopoulos
NOTARY

Keith Hosten
HOSTEN’S (ELECTRICAL
SERVICES) LTD
...


Eva Cacacho González
QUIÑONES, IBARGÜEN, LUJÁN &
MATA SC

Marco Antonio Palacios
PALACIOS & ASOCIADOS

Martin BissyLeno
NIMBA CONSEIL SARL

Clive Hoster
GRENADA ELECTRICITY
SERVICES LTD
...


Jannet de Corzo
CONSOLIDADOS 807 SA

Panagiota D
...


Alexia Tzouni
POTAMITIS-VEKRIS
Spyros Valvis
PWC GREECE
Anna Vamialis
KELEMENIS & CO
...
PAPACOSTOPOULOS &
ASSOCIATES
Konstantinos Vlachakis
KONSTANTINOS VLACHAKIS
Kalliopi Vlachopoulou
KELEMENIS & CO
...
Sandy
AMICUS ATTORNEYS
Valentino Sawney
TRADSHIP INTERNATIONAL
David R
...

Nichole St
...

Trevor St
...


Fredy Yatracou
PWC GREECE

Selwyn Woodroffe
CONSULTING ENGINEERS
PARTNERSHIP LTD
...
D
...
R
...
R
...


DHL GLOBAL FORWARDING

Raymond Anthony
RAYMOND ANTHONY & CO
...

Thaddeus Charles
INLAND REVENUE DEPARTMENT
Linda Dolland
SEON & ASSOCIATES
Kim George
KIM GEORGE & ASSOCIATES

Mamadou Sanoussy Barry
CABINET D’AVOCATS BAO & FILS

Carlos Ortega
MAYORA & MAYORA SC

Rodrigo Callejas Aquino
CARRILLO & ASOCIADOS

Athanasios Tsimikalis
TSIMIKALIS KALONAROU LAW
FIRM

Mamadou Barry
MINISTÈRE DE LA
CONSTRUCTION, DE
L’URBANISME ET HABITAT

PROTECTORA DE CRÈDITO
COMERCIAL
SUPERINTENDENCIA DE BANCOS
Rafael Alvarado-Riedel
CONSORTIUM - RACSA
Pedro Aragón
ARAGÓN & ARAGÓN
Mario R
...
Saravia Castillo
SARAVIA & MUÑOZ

José Estuardo Golóm
CITY HALL OF GUATEMALA CITY

Cynthia Sequeira
PALACIOS & ASOCIADOS

Jose Gonzalez
PRECON

Klamcy Solorzano
CITY HALL OF GUATEMALA CITY

Carlos Guillermo Herrera
REGISTRO GENERAL DE LA
PROPIEDAD DE GUATEMALA
(RGP)

José Augusto Toledo Cruz
ARIAS & MUÑOZ

Eva Maria Lima
CITY HALL OF GUATEMALA CITY
Marco Antonio Martinez
CPS LOGISTICS
Eduardo Mayora Alvarado
MAYORA & MAYORA SC

Estuardo Toruño
DIRECTOR CORPORATIVO
Juan Francisco Toruño
Rodriguez
CONSOLIDADOS 807 SA
Elmer Vargas
PACHECO COTO

Edgar Mendoza
PWC GUATEMALA

GUINEA
ELECTRICITÉ DE GUINÉE

Luis Armando Mendoza Morán
ARMANDO ESPACIOS ESTUDIO
DE ARQUITECTURA

Koulibaly Alpha oumar
NIMBA CONSEIL SARL

Christian Michelangeli
CARRILLO & ASOCIADOS
Edgar Montes
REGISTRO GENERAL DE LA
PROPIEDAD DE GUATEMALA
(RGP)
Edvin Montoya
LEXINCORP

Camara Aly Badara
Aminatou Bah
TRANSCO SA & AQUA MARINE
SA
Aminata Bah Tall
TRANSCO SA & AQUA MARINE
SA
Mohamed Baldé
PWC GUINEA

Gabriel Curtis
AGENCE DE PROMOTION DES
INVESTISSMENTS PRIVÉS
Zakaria Diakité
NIMBA CONSEIL SARL
Ahmadou Diallo
CHAMBRE DES NOTAIRES
Naby Moussa Fofana
BANQUE CENTRALE DE GUINÉE
(BCRG)
Soukeina Fofana
BANQUE CENTRALE DE GUINÉE
(BCRG)
Joachim Gbilimou
Christophe Grenier
AMA (AFRICAN MARITIME
AGENCIES) GUINEA
Amadou Thidiane Kaba
AVOCAT AU BARREAU DE GUINÉE
Lansana Kaba
CARIG
Mariama Ciré Keita Diallo
NIMBA CONSEIL SARL
Fatoumata Koulibaly
BANQUE CENTRALE DE GUINÉE
(BCRG)
Joseph Koundouno
MINISTÈRE DE LA
CONSTRUCTION, DE
L’URBANISME ET HABITAT
Nounké Kourouma
ADMINISTRATION ET CONTRÔLE
DES GRANDS PROJETS
Mohamed Lahlou
PWC GUINEA
Martin Macauley
AMA (AFRICAN MARITIME
AGENCIES) GUINEA
Mohamed Y Sidibe
GROUPE BCEIP
Mansa Moussa Sidibé
GROUPE BCEIP
Satouma Yari Sounah
ETUDE YANSANE
Assiatou Sow
MINISTÈRE DE LA
CONSTRUCTION, DE
L’URBANISME ET HABITAT
Paul Tchagna
PWC GUINEA
Aboubacar Salimatou Toure
MTN AREEBA GUINÉE SA
Mariama Cire Traore
ERNST & YOUNG

GUINEA-BISSAU
ELECTRICIDADE E AGUAS DA
GUINE-BISSAU

277

278

DOING BUSINESS 2015

MINISTÉRIO DA ECONOMIA E
INTEGRAÇÃO REGIONAL
MINISTÉRIO DA JUSTIÇA
Emílio Ano Mendes
GB LEGAL - MIRANDA ALLIANCE
Bassambie Bationo
BCEAO
Abú Camará
MINISTÉRIO DAS
INFRAESTRUTURAS
Humiliano Alves Cardoso
GABINETE ADVOCACIA
Adelaida Mesa D’Almeida
JURISCONTA SRL
Mahaman Tahir Hamani
BCEAO
Miguel Mango
AUDI - CONTA LDA
Vitor Marques da Cruz
MC&A - SOCIEDADE DE
ADVOGADOS RL
Ismael Mendes de Medina
GB LEGAL - MIRANDA ALLIANCE
Teresa Pala
MC&A - SOCIEDADE DE
ADVOGADOS RL
Eduardo Pimentel
CENTRO DE FORMALIZAÇÃO DE
EMPRESAS
Osiris Francisco Pina Ferreira
CONSELHO JUDICIAL DA
MAGISTRADURA, REPÚBLICA DA
GUINÉ-BISSAU
Rogério Reis
ROGÉRIO REIS DESPACHANTE
Moussa Sanogo
BCEAO
Fernando Tavares
TRANSMAR SERVICES
Emmanuel Yehouessi
BCEAO

GUYANA
DIGICOM
Marcel Bobb
FRASER, HOUSTY & YEARWOOD
ATTORNEYS-AT-LAW
Desmond Correia
CORREIA & CORREIA LTD
...

Orin Hinds
ORIN HINDS & ASSOCIATES
ARCH
...

Gary Holder
ORIN HINDS & ASSOCIATES
ARCH
...


Alexis Monize
GUYANA OFFICE FOR
INVESTMENT
Harry Noel Narine
PKF INTERNATIONAL
Charlie Ogle
MINISTRY OF LABOUR, HUMAN
SERVICES AND SOCIAL SECURITY
Alvin Parag
PAS CARGO GUYANA INC (PAS
CARGO GROUP)
Carolyn Paul
AMICE LEGAL CONSULTANTS INC
...

Albert Rodrigues
RODRIGUES ARCHITECTS LTD
...

Allyson West
PWC
Tonika Wilson
PWC

HAITI
MÉROVÉ-PIERRE - CABINET
D’EXPERTS-COMPTABLES
Ronald Augustin
LE CABINET AUGUSTIN
Jean Baptiste Brown
BROWN LEGAL GROUP
Djacaman Charles
CABINET GASSANT
Diggan d’Adesky
D’ADESKY IMPORT EXPORT SA
Lucien Fresnel
CABINET GASSANT
Frédéric Fritz
LE CABINET AUGUSTIN
Enerlio Gassant
CABINET GASSANT
Georgette Jean-Louis
BANQUE DE LA RÉPUBLIQUE
D’HAITI
Nadyne M
...


Ronald Laraque
AAU

Rexford Jackson
SINGH, DOODNAUTH LAW FIRM

Patrick Laurent
CABINET PATRICK LAURENT &
ASSOCIÉS

Cliffton Mortimer Llewelyn
John
ATTORNEY-AT-LAW

Camille Leblanc
CABINET LEBLANC & ASSOCIÉS

Kalam Azad Juman-Yassin
GUYANA OLYMPIC ASSOCIATION

Ludwig Leblanc
CABINET LEBLANC & ASSOCIÉS

Kashir Khan
ATTORNEY-AT-LAW

Garry Lhérisson
ATELIER D’ARCHITECTURE ET
D’URBANISME

Rakesh Latchana
RAM & MCRAE CHARTERED
ACCOUNTANTS
Edward Luckhoo
LUCKHOO & LUCKHOO

Roberson Louis
CABINET GASSANT
Kathia Magloire
CABINET GASSANT

Dieuphète Maloir
SAM CONSTRUCTION
Joseph Paillant
BUCOFISC
Jean Louis Richard
BUCOFISC
Michel Succar
CABINET LISSADE
Jean Vandal
VANDAL & VANDAL

HONDURAS
CNBS - COMISION NACIONAL DE
BANCOS Y SEGUROS
Vanessa Aguilera
TRANSCOMA
Juan José Alcerro Milla
AGUILAR CASTILLO LOVE
Karla Andino Peñalva
CONSORTIUM CENTRO AMÉRICA
ABOGADOS
José Simón Azcona
INMOBILIARIA ALIANZA SA
Felipe G
...
SA
Mario Rubén Zelaya
ENERGÍA INTEGRAL S
...
C
...
H
...
H
...
F
...

Laurence Tsong
TRANSUNION HONG KONG
Cliff Tsui
JLA-ASIA
Paul Tsui
HONG KONG ASSOCIATION
OF FREIGHT FORWARDING &
LOGISTICS LTD (HAFFA)
Christopher Whiteley
ASHURST LLP
Agnes Wong
COMPANIES REGISTRY, HKSAR
Charlton Wong
MAUNSELL AECOM GROUP
Fergus Wong
PWC HONG KONG

ACKNOWLEDGMENTS

Patrick Wong
MAYER BROWN JSM
Erica Xiong
RUSSELL BEDFORD JAMES
NGAI CPA LIMITED - MEMBER
OF RUSSELL BEDFORD
INTERNATIONAL
Elaine Yeung
MAYER BROWN JSM

HUNGARY
CARGO-PARTNER
HELLMANN WORLDWIDE
LOGISTICS KFT
Mark Balastyai
FUTUREAL GROUP
Balázs Balog
RETI, ANTALL AND PARTNERS
LAW FIRM
Péter Bárdos
LAW FIRM DR
...

Tamas Halmos
PARTOS & NOBLET HOGAN
LOVELLS
Dóra Horváth
RETI, ANTALL AND PARTNERS
LAW FIRM
Dóra Emese Horváth
PWC HUNGARY
Gergely Horváth
WHITE & CASE
Norbert Izer
PWC HUNGARY
Andrea Jádi Németh
BPV|JÁDI NÉMETH
ATTORNEYS-AT-LAW
Gábor Kertész
BDO HUNGARY
Adrienn Keszei
BISZ CENTRAL CREDIT
INFORMATION PLC
Dóra Máthé
PWC HUNGARY
László Mohai
MOHAI LAW OFFICE

Róbert Nagy
BISZ CENTRAL CREDIT
INFORMATION PLC

Jón Ingi Ingibergsson
PRICEWATERHOUSECOOPERS
LEGAL EHF

Sándor Németh
SZECSKAY ATTORNEYS-AT-LAW

Aðalsteinn E
...
TÓTH ÁDÁM KÖZJEGYZŐI
IRODA
Annamária Tóth
PARTOS & NOBLET HOGAN
LOVELLS
Gábor Zoltán Szabó
SIEGLER LAW OFFICE / WEIL,
GOTSHAL & MANGES

ICELAND
Ásta Sólveig Andrésdóttir
REGISTERS ICELAND
Ásta Guðrún Beck
REGISTERS ICELAND
Karen Bragadóttir
TOLLSTJÓRI - DIRECTORATE OF
CUSTOMS
þórður Ólafur Búason
REYKJAVIK MUNICIPAL BUILDING
CONTROL OFFICE
Eymundur Einarsson
ENDURSKOðUN OG RÁðGJÖF EHF
Ólafur Eiríksson
LOGOS, MEMBER OF LEX MUNDI
Sigríður Anna Ellerup
REGISTERS ICELAND
Skuli Th
...
Ragnarsson
BBA LEGAL
Eyvindur Sólnes
CATO LÖGMENN
Jóhannes Stephensen
CREDITINFO ICELAND
Gunnar Sturluson
LOGOS, MEMBER OF LEX MUNDI
Rúnar Svavar Svavarsson
ORKUVEITA REYKJAVÍKUR,
DISTRIBUTION-ELECTRICAL
SYSTEM
Helgi þór þorsteinsson
LEX LAW OFFICES
Steinþór þorsteinsson
TOLLSTJÓRI - DIRECTORATE OF
CUSTOMS
Jon Vilhjalmsson
EFLA CONSULTING ENGINEERS

INDIA
GAYATRI INTERNATIONAL
TRADING CO
...
D
...

Kritika Agarwal
MAJMUDAR & PARTNERS
Sundeep Agarwal
PWC INDIA
Neeharika Aggarwal
KNM & PARTNERS, LAW
OFFICES
P
...
Atree
P
...
ATREE & CO
...
LTD
...

Hetal Bhagat
MEHTA & MEHTA
Neeraj Bhagat
NEERAJ BHAGAT & CO
...
L Bhakta
KANGA & CO
...

PRACTICING COMPANY
SECRETARIES
Thomas Brunner
LEAPFROG INVESTMENTS, LTD
...

Anand Chatrath
B
...
CHATRATH & CO
...
B
...

Vijay Goel
SINGHANIA & CO
...

Ruchira Gupta
THE JURIS SOCIIS
Rajesh Haldipur
PWC INDIA
Akil Hirani
MAJMUDAR & PARTNERS
Akshaya Iyer
MAJMUDAR & PARTNERS

Manjula Chawla
PHOENIX LEGAL

Joy Jacob
KHAITAN & CO
...

Kavita Devi
KHALSHA CONSULTANCY
SERVICES
Soumitry Dey
THE TATA POWER COMPANY
LIMITED
Prashant Dharia
ANANT INDUSTRIES
Farida Dholkawala
DESAI & DIWANJI
Pradhumna Didwania
SINGH & ASSOCIATES,
ADVOCATES AND SOLICITORS
Thambi Durai
T
...

Prithwijit Gangopadhyay
TRILEGAL

Jayant Jain
PWC INDIA
Jitender Jain
SINGHANIA & CO
...
Jayesh
JURIS CORP
Rajat Joneja
KNM & PARTNERS, LAW
OFFICES
Manmohan Juneja
MINISTRY OF CORPORATE
AFFAIRS
Sumeet Kachwaha
KACHWAHA & PARTNERS
Amit Kamat
KAMAT & COMPANY
Atul Kansal
INDUS ENVIRONMENTAL
SERVICES PVT
...

Apurva Kanvinde
JURIS CORP
Rajas Kasbekar
LITTLE & CO
...
LTD
...

PRACTICING COMPANY
SECRETARIES
Harsh Kumar
SINGHI CHUGH & KUMAR,
CHARTERED ACCOUNTANTS
Mrinal Kumar
LEX MUNDI ASSOCIATION OF
LAW FIRMS
Mrityunjay Kumar
DHINGRA & SINGH ATTORNEYS-AT-LAW
Mukesh Kumar
KNM & PARTNERS, LAW
OFFICES
S
...
Kunte
SHARP AND TANNAN - MEMBER
OF RUSSELL BEDFORD
INTERNATIONAL

Shishir Mehta
KHAITAN & CO
...

Vaidehi Naik
PHOENIX LEGAL
Vijay Nair
KNM & PARTNERS, LAW
OFFICES
Aseem Nanda
CENTRAL BOARD OF EXCISE &
CUSTOMS
Vaibhav Nautiyal
INDUS ENVIRONMENTAL
SERVICES PVT
...

Madhav Pande
L & T CAPITAL CO
...
, MUMBAI

Harjeet Lall
AXON PARTNERS LLP

Anup Pandey
MINISTRY OF LABOUR &
EMPLOYMENT

Rajiv K
...


Divya Malcolm
KOCHHAR & CO
...
Singh Pasrich
INTERNATIONAL LAW AFFILIATES
PASRICH & COMPANY

Yogesh Malhan
SINGH & ASSOCIATES,
ADVOCATES AND SOLICITORS
Vipender Mann
KNM & PARTNERS, LAW
OFFICES
R
...
Mehrotra
R
...
CLEARING PVT
...

Atul Mehta
MEHTA & MEHTA
Dara Mehta
LITTLE & CO
...
SAGAR ASSOCIATES,
ADVOCATES & SOLICITORS

Jitesh Mehta
SOURCE INDIA

M
...
Mehta
KANGA & CO
...

S
...
LTD
...

Dipak Rao
RAJANI, SINGHANIA & PARTNERS
LLP SOLICITORS & ADVOCATES
Preetha S
...

PWC INDIA
Swarnima S
...

Sunil Dutt Sharma
KHALSHA CONSULTANCY
SERVICES
Arjun Shiv
TRILEGAL
Vikram Shroff
NISHITH DESAI ASSOCIATES
Kartikeya Singh
PHOENIX LEGAL
Ravinder Pal Singh
INTERNATIONAL SURGICAL INDS
...
LTD
...
LTD
...
Siva
VINZAS SOLUTIONS INDIA
PRIVATE LIMITED
Veena Sivaramakrishnan
JURIS CORP

Somesh Srivastava
LEGASIS SERVICES PRIVATE
LIMITED
Ankit Sukhija
SINGH & ASSOCIATES,
ADVOCATES AND SOLICITORS
P
...
Swaroop
MODERN CARGO SERVICES
PVT
...

Ashwani Taneja
RRA TAXINDIA TAX ADVISORS &
ADVOCATES
Rajesh Tayal
KNM & PARTNERS, LAW
OFFICES
Himanshu Tewari
BMR ADVISORS
Chetan Thakkar
KANGA & CO
...

Sameep Vijayvergiya
DHINGRA & SINGH
- ATTORNEYS-AT-LAW
Jyoti Virmani
FOX MANDAL & CO
...
A
...
Balfas
ALI BUDIARDJO, NUGROHO,
REKSODIPUTRO, MEMBER OF
LEX MUNDI
Simon Barrie
KARIMSYAH LAW FIRM
Benny Bernarto
MAKARIM & TAIRA S
...


Armen L
...

Irina Anindita
MAKARIM & TAIRA S
...

Almer Apon
IWA LOGISTICS (INDONESIA)
Gina Aprilitasari
MATARAM PARTNERS
Hizkia Ardianto
ERNST & YOUNG
Aries
PT PLN (PERSERO) INDONESIA
STATE ELECTRICITY
CORPORATION
Saiful Arif
ZAIDUN & PARTNERS
Devita Arlene R
...
BANK NEGARA INDONESIA
(BNI)
Ardian Army
MACHMUD FAUZI, NOTARIS &
PPAT

Machmud Fauzi
MACHMUD FAUZI, NOTARIS &
PPAT
Widigdya Sukma Gitaya
WSG TAX ADVISOR
Indra Gunawan
TATAGUNA MATRA
ARCHITECTURE ENGINEERING
CONSULTANTS
Melanie Hadeli
BAHAR & PARTNERS
Fitri Handayanti Lubis
SIMBOLON & PARTNERS LAW
FIRM
Dedet Hardiansyah
BUDIMAN AND PARTNERS
Freddy Harris
MINISTRY OF LAW AND HUMAN
RIGHTS
Stefanus Haryanto
ADNAN KELANA HARYANTO &
HERMANTO
Joseph Hendrik
MAKARIM & TAIRA S
...
Herlambang
INDONESIAN INSTITUTE OF
ARCHITECTS
Inyo Hetarie
Wan Juli
ERNST & YOUNG
Iswahjudi A
...
Kartakusuma
MAKARIM & TAIRA S
...


Anita Lucia Kendarto
NOTARIS & PEJABAT PEMBUAT
AKTA TANAH

Reagan Roy
MAKARIM & TAIRA S
...
Kusnandar
KUSNANDAR & CO
...
Bambang Kusumarijadi
PELITA BUMIWANGI, PT
Diana Kusumasari
SIMBOLON & PARTNERS LAW
FIRM
Jatmiko Adi Kusumo
INTERIORS & CO
...
Rizaldi Kwok
KUSNANDAR & CO
...
Leks
LEKS & CO
...
Mamurung
Bintang Manik
MAKARIM & TAIRA S
...
Sadjarwo
Himawan Santoso
ADHICIPTA ENGINEERING
CONSULTANTS
Gatot Sanyoto
KUSNANDAR & CO
...


Sudiman Sidabukke
SIDABUKKE CLAN & ASSOCIATES

Agus Marsudi
INDONESIAN INSTITUTE OF
ARCHITECTS

Bernard Sihombing
BUDIDJAJA & ASSOCIATES LAW
OFFICES

Peter Mahmud Marzuki
ZAIDUN & PARTNERS

Devryanto Silvester Panggalo
A
...
AZIZ & PARTNERS

Ella Melany
HANAFIAH PONGGAWA &
PARTNERS

Ricardo Simanjuntak
RICARDO SIMANJUNTAK &
PARTNERS

Any Miami
PWC INDONESIA

Yudianta Medio N
...
Mardawa Padangratha
PT PLN (PERSERO), EAST JAVA
DISTRIBUTION
Budi Pangestu
PT PLN (PERSERO), EAST JAVA
DISTRIBUTION

Agoes Soerarso
TATAGUNA MATRA
ARCHITECTURE ENGINEERING
CONSULTANTS
Nadia Soraya
MD & PARTNERS
Chris Joko Sriyanto

Ivor Pasaribu
LEKS & CO
...
P
...
T
...

Milad Ghornan Nejad
PERSOL CORPORATION
Majid Haddad
AUSTRALIAN GREEN
MANAGEMENT & SERVICES
S
...
BEHROOZ AKHLAGHI &
ASSOCIATES
Masood Shaikh
PERSOL CORPORATION
Hasan Sharifi Bidgoli
AUSTRALIAN GREEN
MANAGEMENT & SERVICES
Farzan Shirvanbeigi
TEHRAN MUNICIPALITY FANAVARAN SHAHR CO
...
LTD
...
BEHROOZ AKHLAGHI &
ASSOCIATES
Abbas Taghipour
CENTRAL BANK OF THE ISLAMIC
REPUBLIC OF IRAN

Seyed Hamid Jelveh Tabaei
REGISTRATION COMPANIES
OFFICE

IRAN, ISLAMIC REP
...
BEHROOZ AKHLAGHI &
ASSOCIATES

Mohammad Reza Talischi
PERSOL CORPORATION

Amir Kheirollahy
HT CO, LTD
...
CHARTERED
ACCOUNTANTS

Nisreen Abdul Hadi Al-Hamiri
NISREEN ABDUL HADI AL-HAMIRI
LAW OFFICE

Ali Ahmadi
TEHRAN CHAMBER OF
COMMERCE, INDUSTRIES AND
MINES

Shahrzad Majdameli
TOLLEFSEN LAW PLLC

Ala’a Abu Awwad
PWC JORDAN

Gholam Reza Malekshoar
CENTRAL BANK OF THE ISLAMIC
REPUBLIC OF IRAN

Ahmed Al-Jannabi
MENA ASSOCIATES, MEMBER OF
AMERELLER RECHTSANWÄLTE

Seyed Ali Mirshafiei
TEHRAN CHAMBER OF
COMMERCE, INDUSTRIES AND
MINES

Adil Al-Lami
MANAGEMENT SYSTEMS
INTERNATIONAL

Hamede Akhavan
SECURITIES AND EXCHANGE
ORGANIZATION OF IRAN
Behrooz Akhlaghi
INTERNATIONAL LAW OFFICE
OF DR
...
HASSAN
AMIRSHAHI
Ebrahim Asadi
ELECTRICAL INDUSTRY
DEVELOPMENT (EID
CONSULTANT CO
...


Morteza Dezfoulian
MORTEZA

Ilman Rakhmat
KARIMSYAH LAW FIRM

Doddy Tjahjadi
PTI ARCHITECTS

Sepideh Dowlatshahi
BARTAR ASSOCIATES LAW FIRM

Dhamma Ratna
NOTARIS & PEJABAT PEMBUAT
AKTA TANAH

Noverisky Tri Putra Pasaribu
SIMBOLON & PARTNERS LAW
FIRM

Maryam Ebrahimi
TEHRAN STOCK EXCHANGE
(TSE)

Harry Purwoko
SEMBADA PRATAMA (SCHOOL OF
SUPPLY CHAIN AND LOGISTICS)

Shirzad Eslami
OWJ LAW OFFICE

Andi Zulfikar
MATARAM PARTNERS

Golsa Daghighi
INTERNATIONAL LAW OFFICE
OF DR
...
- IRANIAN CENTRAL BAR
ASSOCIATION
Farmand Pourkarim
TEHRAN MUNICIPALITY FANAVARAN SHAHR CO
...
Hamoudi
AL-BURAQ ENGINEERING CO
...

Ahmed Dawood
BAYT AL-HIKMAH FOR LEGAL
SERVICES AND CONSULTANCY
LLC
Abbas Fadel
AL NOSOOR
Kamal Field Al-Basri
IRAQI INSTITUTE FOR ECONOMIC
REFORM
Ali Fikiki
MANAGEMENT SYSTEMS
INTERNATIONAL
Deepak John
SKYBRIDGE FREIGHT SOLUTIONS
LLC
Jamal Mehdi Shalal
AL ATTAR REAL ESTATE OFFICE
Rasha Nadeem
BAYT AL-HIKMAH FOR LEGAL
SERVICES AND CONSULTANCY
LLC
Ahmed Naguib
BCC LOGISTICS
Ammar Naji
CONFLUENT LAW GROUP
Abdelrahman Sherif
MENA ASSOCIATES, MEMBER OF
AMERELLER RECHTSANWÄLTE

281

282

DOING BUSINESS 2015

Stephan Stephan
PWC JORDAN

Gerry O’Neill
IRISH CREDIT BUREAU

Ido Gonen
GOLDFARB SELIGMAN & CO
...


Laura O’Sullivan
MASON HAYES & CURRAN

Yael Hershkovitz
GROSS, KLEINHENDLER, HODAK,
HALEVY, GREENBERG & CO
...

John Comerford
COONEY CAREY - MEMBER
OF RUSSELL BEDFORD
INTERNATIONAL
Danielle Conaghan
ARTHUR COX, MEMBER OF LEX
MUNDI
Pearse Corbett
ESB INTERNATIONAL
Amanda Daly
MATHESON

Maurice Phelan
MASON HAYES & CURRAN
Sinead Power
IRISH CREDIT BUREAU
Jilian Pringle
OLM CONSULTANCY
Kevin Quinn
PWC IRELAND
Brendan Sharkey
REDDY CHARLTON
Gavin Simons
AMOSS SOLICITORS
Lorcan Tiernan
DILLON EUSTACE
Mark Traynor
A&L GOODBODY

Zeev Katz
PWC ISRAEL

Romina Ballanca
PWC - TAX AND LEGAL SERVICES

Vered Kirshner
PWC ISRAEL

Paola Barazzetta
PWC - TAX AND LEGAL SERVICES

Gideon Koren
GIDEON KOREN & CO
...
HOROWITZ & CO
...
COLLINS SOLICITORS

Colm Walsh
IRISH INTERNATIONAL FREIGHT
ASSOCIATION

Michelle Liberman
S
...
, MEMBER OF
LEX MUNDI

Eoghan Doyle
PHILIP LEE SOLICITORS

Patrick Walshe
PHILIP LEE SOLICITORS

Yigal Merav
A
...


John Doyle
DILLON EUSTACE

Emma Weld-Moore
DANIEL MURPHY SOLICITORS

Rotem Muntner
RUTH CARGO

Ray Duffy
THE PROPERTY REGISTRATION
AUTHORITY

ISRAEL
HILMAN & CO
...
)

Frank Flanagan
MASON HAYES & CURRAN
Ciara Garry
FGS DUBLIN
Koren Good
PWC IRELAND
Cillian Gorman
ARTHUR COX, MEMBER OF LEX
MUNDI
Paul Gough
EUGENE F
...


Mirit Reif
HACOHEN WOLF LAW OFFICES

Eyal Bar-Eliezer
BALTER, GUTH, ALONI LLP

Nili Reif
HACOHEN WOLF LAW OFFICES

Ofer Bar-On
SHAVIT BAR-ON GAL-ON TZIN
YAGUR, LAW OFFICES

Doron Sadan
PWC ISRAEL

Jeremy Benjamin
GOLDFARB SELIGMAN & CO
...


Thomas Johnson
IRISH BUILDING CONTROL
INSTITUTE

Roy Caner
ERDINAST BEN NATHAN & CO
...

Michael O’Connor
MATHESON
Brian O’Malley
A&L GOODBODY

Shai Nagor
DELOITTE

MINISTRY OF JUSTICE

Jacob Ben-Chitrit
YIGAL ARNON & CO
...

Shlomo Farkas
ELCHANAN LANDAU LAW
OFFICES
Ran Feldman
S
...
, MEMBER OF
LEX MUNDI
Keren Freund
GOLDFARB SELIGMAN & CO
...

Viva Gayer
ERDINAST BEN NATHAN & CO
...


Gea Arcella
CIVIL LAW NOTARY, LAWYER
Gaetano Arnò
PWC - TAX AND LEGAL SERVICES

Opher Levenberg
STEINMETZ, HARING, GURMAN
& CO
...

Daniel Singerman
BUSINESS DATA ISRAEL +
PERSONAL CHECK
Eran Taussig
BALTER, GUTH, ALONI LLP
Eylam Weiss
WEISS-PORAT & CO
...

Dave Wolf
HACOHEN WOLF LAW OFFICES

ITALY
Marianna Abbaticchio
RISTUCCIA & TUFARELLI
Fabrizio Acerbis
PWC ITALY
Emanuele Alemagna
LCA - LEGA COLUCCI E
ASSOCIATI
Giuseppe Alemani
ALEMANI E ASSOCIATI
Mario Altavilla
UNIONCAMERE
Federico Antich
STUDIO DELL’AVVOCATO ANTICH

Alvise Becker
PWC - TAX AND LEGAL SERVICES
Vlad Beffa
STUDIO SAVOIA
Susanna Beltramo
STUDIO LEGALE BELTRAMO
Carlotta Benigni
DLA PIPER
Marta Bianchi
PWC - TAX AND LEGAL SERVICES
Andrea Bossola
ACEA S
...
A
...
P
...
- DIREZIONE
AFFARI LEGALI
Federico Calloni
STUDIO CORNO - MMEMBER
OF RUSSELL BEDFORD
INTERNATIONAL
Gianluca Cambareri
TONUCCI & PARTNERS, IN
ALLIANCE WITH MAYER BROWN
LLP
Paolo Canal
ORSINGHER ORTU – AVVOCATI
ASSOCIATI
Stefano Cancarini
PWC - TAX AND LEGAL SERVICES
Alessandro Cardia
GRIECO E ASSOCIATI
Cecilia Carrara
LEGANCE - STUDIO LEGALE
ASSOCIATO
Paolo Carta
ACEA S
...
A
...
P
...

Stefano Colla
PWC - TAX AND LEGAL SERVICES
Fabrizio Colonna
LCA - LEGA COLUCCI E
ASSOCIATI
Mattia Colonnelli de Gasperis
COLONNELLI DE GASPERIS
STUDIO LEGALE
Barbara Corsetti
PORTOLANO CAVALLO STUDIO
LEGALE
Filippo Corsini
CHIOMENTI STUDIO LEGALE
Barbara Cortesi
STUDIO LEGALE GUASTI
Massimo Cremona
PIROLA PENNUTO ZEI &
ASSOCIATI
Salvina Crisafulli
ASHURST LLP
Salvatore Cuzzocrea
PWC - TAX AND LEGAL SERVICES
Daniele de Benedetti
STUDIO BENESSIA - MACCAGNO
Francesco De Gennaro
STUDIO LEGALE ASSOCIATO AD
ASHURST LLP
Antonio De Martinis
SPASARO DE MARTINIS LAW
FIRM
Raffaella De Martinis
SPASARO DE MARTINIS LAW
FIRM
Francesca De Paolis
STUDIO LEGALE SALVATORE DE
PAOLIS
Rosa Del Sindaco
ABBATESCIANNI STUDIO LEGALE
E TRIBUTARIO
Claudio Di Falco
CLEARY GOTTLIEB STEEN &
HAMILTON LLP
Federica Di Mario
STUDIO LEGALE ASSOCIATO AD
ASHURST LLP
Maria Di Noia
BANK OF ITALY
Massimiliano Di Tommaso
CLEARY GOTTLIEB STEEN &
HAMILTON LLP
Maddalena Ferrari
STUDIO NOTARILE FERRARI
Guiseppe Ferrelli
STUDIO LEGALE SINATRA
Barbara Mirta Ferri
PWC - TAX AND LEGAL SERVICES
Gianclaudio Fischetti
PWC - TAX AND LEGAL SERVICES
Tommaso Foco
PORTOLANO CAVALLO STUDIO
LEGALE
Pier Andrea Fré Torelli Massini
CARABBA & PARTNERS
Luca Gambini
PORTOLANO CAVALLO STUDIO
LEGALE
Andrea Gangemi
PORTOLANO CAVALLO STUDIO
LEGALE
Daniele Geronzi
LEGANCE - STUDIO LEGALE
ASSOCIATO
Carlo Ghia
STUDIO LEGALE GHIA

ACKNOWLEDGMENTS

Enrica Maria Ghia
STUDIO LEGALE GHIA
Lucio Ghia
STUDIO LEGALE GHIA
Ilario Giangrossi
ASHURST LLP
Andrea Grappelli
TONUCCI & PARTNERS, IN
ALLIANCE WITH MAYER BROWN
LLP
Antonio Grieco
GRIECO E ASSOCIATI
Valentino Guarini
PWC - TAX AND LEGAL SERVICES
Federico Guasti
STUDIO LEGALE GUASTI
Francesco Iodice
CLEARY GOTTLIEB STEEN &
HAMILTON LLP
Giovanni Izzo
ABBATESCIANNI STUDIO LEGALE
E TRIBUTARIO
Ignazio La Candia
PIROLA PENNUTO ZEI &
ASSOCIATI
Mario Landriani
GC ARCHITECTURE BURO
Laura Liguori
PORTOLANO CAVALLO STUDIO
LEGALE
Alessandra Livreri
A
...
P
...

Cesare Lombrassa
STUDIO LEGALE LOMBRASSA
Paolo Lucarini
PWC ITALY
Stefano Macchi di Cellere
Matteo Magistrelli
PORTOLANO CAVALLO STUDIO
LEGALE
Corrado Malberti
LAWYER
Francesco Manzari
STUDIO LEGALE ASSOCIATO AD
ASHURST LLP
Luigi Mariani
STUDIO LEGALE ASSOCIATO AD
ASHURST LLP
Fabrizio Mariotti
STUDIO LEGALE BELTRAMO
Laura Marretta
ROMOLOTTI MARRETTA
Donatella Martinelli
STUDIO LEGALE ASSOCIATO
TOMMASINI E MARTINELLI
Carloandrea Meacci
STUDIO LEGALE ASSOCIATO AD
ASHURST LLP
Valeria Melissan
PWC - TAX AND LEGAL SERVICES
Laura Mellone
BANK OF ITALY
Priscilla Merlino
NUNZIANTE MAGRONE
Andrea Messuti
LCA - LEGA COLUCCI E
ASSOCIATI
Mario Miccoli
NOTAIO MICCOLI
Stefano Miniati
PWC - TAX AND LEGAL SERVICES

Marco Monaco Sorge
TONUCCI & PARTNERS, IN
ALLIANCE WITH MAYER BROWN
LLP
Luisa Monti
CRIF S
...
A
...


Rivi Gardener
RIVI GARDENER & ASSOCIATE
LTD
...
P
...


Galileo Pozzoli
CURTIS MALLET - PREVOST,
COLT & MOSLE LLP

Bruno Benvenuto Zerbini
STUDIO LEGALE BELTRAMO

Maria Progida
PWC - TAX AND LEGAL SERVICES
Francesca Ravallese
Daniele Raynaud
RAYNAUD AND PARTNERS STUDIO LEGALE
Sharon Reilly
LABLAW STUDIO LEGALE
Fabrizio Revelli
LAWYER
Consuelo Rigo
CRIF S
...
A
...
Gordon Burke-Green
JAMAICA TRADING SERVICES
LTD
...

Lissa L
...

Peter Knight
NATIONAL ENVIRONMENT &
PLANNING AGENCY
Joan Lawla
UNIVERSITY OF TECHNOLOGY
Grace Lindo
NUNES, SCHOLEFIELD DELEON
& CO
...
MORGAN & CO
...

Okamoto Aya
OSAKA BUSINESS AND
INVESTMENT CENTER
Isayama Ayaka
KANSAI ELECTRIC POWER
Yoshio Azuma
TEIKOKU DATABANK
Naoaki Eguchi
BAKER & MCKENZIE
Toyoki Emoto
ATSUMI & SAKAI
Miho Fujita
ADACHI, HENDERSON, MIYATAKE
& FUJITA
Tatsuya Fukui
ATSUMI & SAKAI
Shinnosuke Fukuoka
NISHIMURA & ASAHI
Tomoyoshi Furukawa
OHARA LAW OFFICE
Michiyasu Futami
BANK OF TOKYO-MITSUBISHI
UFJ
Keiko Harada
ATSUMI & SAKAI
Taichi Haraguchi
ERNST & YOUNG TAX CO
...
Samuda
SAMUDA & JOHNSON
ATTORNEYS-AT-LAW
Jacqueline Simmonds
JAMAICA PUBLIC SERVICE
COMPANY LIMITED
Craig Stephen
CREDITINFO JAMAICA LIMITED

Nicholas R
...

Chie Kasahara
ATSUMI & SAKAI
Hiroshi Kasuya
BAKER & MCKENZIE
Takahiro Kato
NISHIMURA & ASAHI

283

284

DOING BUSINESS 2015

Kohei Kawamura
NISHIMURA & ASAHI

Yukiko Tomimatsu
NISHIMURA & ASAHI

Hayato Kimura
ATSUMI & SAKAI

Yamamoto Tomohide
KINDEN CORP
...
, LTD
...

Nobuaki Matsuoka
OSAKA INTERNATIONAL LAW
OFFICES
Nomuaki Matsuoka
OSAKA INTERNATIONAL LAW
OFFICES

Shino Uenuma
SOUTH TORANOMON LAW
OFFICES
Kenji Utsumi
NAGASHIMA OHNO &
TSUNEMATSU
Ritsuko Watanabe
TAKASHI IKEDA LAW OFFICE

Katsuhito Matsuura
MAERSK LINE

Michi Yamagami
ANDERSON MORI & TOMOTSUNE

Nakano Michiaki
SOUTH TORANOMON LAW
OFFICES

Shinjiro Yamamoto
ERNST & YOUNG TAX CO
...

Shigenobu Namiki
ANDERSON MORI & TOMOTSUNE
Sasaki Nanako
THE BUILDING CENTER OF JAPAN
Nozomu Ohara
OHARA LAW OFFICE
Kanayo Okai
OHARA LAW OFFICE
Shun Otsuka
NISHIMURA & ASAHI
Kozonoi Ryo
TOKYO BUSINESS ENTRY POINT
Takashi Saito
CITY-YUWA PARTNERS
Yuka Sakai
CITY-YUWA PARTNERS
Noriyuki Sano
MAERSK LINE
Tetsuro Sato
BAKER & MCKENZIE

Koji Yawataya
ERNST & YOUNG TAX CO
...
LTD
...
Al-Dabbas
INTERNATIONAL BUSINESS
LEGAL ASSOCIATES
Gehad Ali
ARAB BANK
Omar Aljazy
ALJAZY & CO
...
LTD
...


Nurlan Sholanov
AEQUITAS LAW FIRM
Svetlana Shtopol
INTEGRITES KAZAKHSTAN LLP

Madiyar Bekturganov
ORIS LAW FIRM

Nurzhan Stamkulov
SYNERGY PARTNERS LAW FIRM

Arman Berdalin
SAYAT ZHOLSHY & PARTNERS

Otabek Suleimanov
COLIBRI LAW FIRM

Talgat Bidaybekov
OLYMPEX ADVISERS

Zarina Syzdykova
GRATA LAW FIRM

Aidyn Bikebayev
SAYAT ZHOLSHY & PARTNERS

Kurmangazy Talzhanov
INTEGRITES KAZAKHSTAN LLP

Richard Bregonje
PWC KAZAKHSTAN

Zhandos Taukenov
OLYMPEX ADVISERS

Svetlana Ceban
PWC KAZAKHSTAN

Almas Tleupov
INTEGRITES KAZAKHSTAN LLP

Hussein Kofahy
CENTRAL BANK OF JORDAN

Inara Elemanova
COLIBRI LAW FIRM

Victoriya Trofimovich
SIGNUM LAW FIRM

Rasha Laswi
ZALLOUM & LASWI LAW FIRM

Julia Fattorini
BMF GROUP LLP

Bakhyt Tukulov
GRATA LAW FIRM

Firas Malhas
INTERNATIONAL BUSINESS
LEGAL ASSOCIATES

Alexandr Giros
ARISTAN PROJECT MANAGEMENT
GROUP (APMG)

Amir Tussupkhanov
ORIS LAW FIRM

Omar B
...
Sabbagh
THE JORDANIAN ELECTRIC
POWER CO
...
(JEPCO)

Elena Kaeva
PWC KAZAKHSTAN
Assel Kalmagambetova
SYNERGY PARTNERS LAW FIRM
Aigoul Kenjebayeva
DENTONS KAZAKHSTAN, LLP
Elvira Khairoullina
INTEGRITES KAZAKHSTAN LLP
Yekaterina Khamidullina
AEQUITAS LAW FIRM
Olga Kim
COLIBRI LAW FIRM
Marina Kolesnikova
GRATA LAW FIRM
Askar Konysbayev
GRATA LAW FIRM
Anna Kravchenko
GRATA LAW FIRM
Yuliya Lazareva
AEQUITAS LAW FIRM
Tatyana Lee
COLIBRI LAW FIRM

Stephan Stephan
PWC JORDAN

Aituar Madin
ORIS LAW FIRM

Dima Taan
LAW GATE ATTORNEYS & LEGAL
COUNSELORS

Marzhan Mardenova
PWC KAZAKHSTAN

Azim Usmanov
COLIBRI LAW FIRM
Vitaliy Vodolazkin
SAYAT ZHOLSHY & PARTNERS
Severin Wilson
KAZAKHSTAN CONSULTING
Arlan Yerzhanov
BMF GROUP LLP
Yerzhan Yessimkhanov
GRATA LAW FIRM
Dubek Zhabykenov
BA OILFIELD SERVICES
Serik Zhamanbalin
OLYMPEX ADVISERS
Askhat Zhanatuly
GRATA LAW FIRM
Birzhan Zharasbayev
DENTONS KAZAKHSTAN, LLP
Aiman Zhekeyeva
INTEGRITES KAZAKHSTAN LLP
Liza Zhumakhmetova
SIGNUM LAW FIRM
Sofiya Zhylkaidarova
SIGNUM LAW FIRM
Anton Zinoviev
BOOZ ALLEN HAMILTON
Zarina Ziyayeva
INTEGRITES KAZAKHSTAN LLP

Mohammed Tarawneh

Yessen Massalin
OLYMPEX ADVISERS

KENYA
METROPOL CORPORATION LTD
...
ADVOCATES &
LEGAL CONSULTANTS

KAZAKHSTAN
BDO KAZAKHSTANAUDIT, LLP

Ruslan Omarov
FIRST CREDIT BUREAU

Mohammed A
...


Mohammed Amawi
AMAWI & CO
...


William Ikutha Maema
ISEME, KAMAU & MAEMA
ADVOCATES

Hiroaki Shinomiya
DAVIS & TAKAHASHI
Sachiko Sugawara
ATSUMI & SAKAI
Junya Suzuki
BAKER & MCKENZIE

Terakawa Tokiwa
THE BUILDING CENTER OF JAPAN

Faris Allouzi
KHALIFEH & PARTNERS
LAWYERS

Michael T
...
DABIT & ASSOCIATES

Ainur Abdalova
COLIBRI LAW FIRM
Serkebay Abdikadyrov
SIGNUM LAW FIRM
Kuben Abzhanov
GRATA LAW FIRM
Kirill Afanasyev
KAZAKHSTAN CONSULTING

ACKNOWLEDGMENTS

Milly Jalega
ISEME, KAMAU & MAEMA
ADVOCATES
Kenneth Kamaitha
KAPLAN & STRATTON
Kamau Karori
ISEME, KAMAU & MAEMA
ADVOCATES
Hamish Keith
DALY & FIGGIS ADVOCATES
Erick Keli
AKOTO & AKOTO ADVOCATES
John Kung’u
WARUHIU K’OWADE & NG’ANG’A
ADVOCATES
David Lekerai
ISEME, KAMAU & MAEMA
ADVOCATES
Victor Majani
CROWE HORWATH EA,
MEMBER CROWE HORWATH
INTERNATIONAL
Rosemary Mburu
INSTITUTE OF TRADE
DEVELOPMENT
James Mburu Kamau
ISEME, KAMAU & MAEMA
ADVOCATES
Mansoor A
...


Robert Flemer
KIM & CHANG

Neiran Areta
MINISTRY OF COMMERCE,
INDUSTRY AND COOPERATIVES

Sang Hoon Han
SHIN & KIM

Kenneth Barden
ATTORNEY-AT-LAW
Moanataake Beiabure
Natan Brechtefeld
NATAN BRECHTEFELD LEGAL
MANAGEMENT SERVICES
Tomitiana Eritama
MINISTRY OF LABOUR & HUMAN
RESOURCES DEVELOPMENT
Anthony Frazier

Willie Karakaua Maen
MOEL TRADING CO
...


John Muoria
WARUHIU K’OWADE & NG’ANG’A
ADVOCATES

Seri Kautuntamoa
BUSINESS & COMPANIES
REGULATORY DIVISION,
BUSINESS REGULATORY CENTRE,
MINISTRY OF COMMERCE,
INDUSTRY & COOPERATIVES

Killian Ngala
MEDITERRANEAN SHIPPING
COMPANY (MSC),
OCEANFREIGHT (E
...
) LTD
...
LTD
...

Aaron Levine
ASIAN DEVELOPMENT BANK
Kinateao Rokonimwane
MINISTRY OF COMMERCE,
INDUSTRY AND COOPERATIVES
Naare Taukoriri
SWIRE SHIPPING SERVICE
Tetoka Tionatam
KIRIBATI PROVIDENT FUND

James Ngomeli
THE KENYA POWER AND
LIGHTING COMPANY LTD
...


Desmond Odhiambo
DALY & FIGGIS ADVOCATES
Edwin Odundo
ORARO & COMPANY ADVOCATES
Andrew Oduor
ORARO & COMPANY ADVOCATES
Daniel Okoth
ORARO & COMPANY ADVOCATES
Richard Omwela
HAMILTON HARRISON &
MATHEWS LAW FIRM
Jackson Onyango Awele
ORARO & COMPANY ADVOCATES
Hannington O
...
LTD
...


Jeong-Hun Cho
KOREA CUSTOMS SERVICE

Han-Jun Chon
SAMIL
PRICEWATERHOUSECOOPERS

Pesega Iaribwebwe
MINISTRY OF COMMERCE,
INDUSTRY AND COOPERATIVES

Murigu Murithi
ARCS AFRICA

Hyeong-Tae Cho
SAMIL
PRICEWATERHOUSECOOPERS

Jaebeom Ahn
AHNSE LAW OFFICES
Won-Mo Ahn
AHN & CHANG
Darren Bean
SOJONG PARTNERS
Jennifer Min-Sook Chae
KOREA CREDIT BUREAU
Grace Change
SHINHAN CUSTOMS SERVICE INC
...
Lee
HANJIN SHIPPING CO
...


Alexander Borg Olivier
INTERLEX ASSOCIATES LLC

Kyu Wha Lee
LEE & KO

Hajzer Bublaku
KOSOVO CADASTRAL AGENCY

Moonsub Lee
SOJONG PARTNERS

Ardiana Bunjaku
SOCIETY OF CERTIFIED
ACCOUNTANTS AND AUDITORS
OF KOSOVO (SCAAK)

Sae Goo Lee
AHNSE LAW OFFICES
Sang-don Lee
SHIN & KIM
Seung Yoon Lee
KIM & CHANG
Sun-Ho Lee
YUSEN LOGISTICS (KOREA)
CO
...

Chul-Ki Lim
KOREA CREDIT BUREAU

Jun-Seok Heo
SOJONG PARTNERS

Jangbaek Lim
SAMIL
PRICEWATERHOUSECOOPERS

Jin-Young Hwang
SAMIL
PRICEWATERHOUSECOOPERS

Jung-hyun Lim
KOREAN ELECTRICAL
CONTRACTORS ASSOCIATION

C
...
Hyun
KIM & CHANG

Cheol-Kyu Maeng
KOREA CUSTOMS SERVICE

James I
...
Jeon
SOJONG PARTNERS

Young Min Kim
YOON & YANG LLC

Bo Moon Jung
KIM & CHANG

Han-Shin Oh
DAECHEONG SHIPPING CO
...


Goo-Chun Jung
KOREA CUSTOMS SERVICE

Soogeun Oh
EWHA WOMANS UNIVERSITY

Jinku Kang
LEE & KO

Yon Kyun Oh
KIM & CHANG

Sang Wook Kang
KOREAN ELECTRICAL
CONTRACTORS ASSOCIATION

Han-Uk Park
KOREA CUSTOMS SERVICE

Young-Ju Kang
SOJONG PARTNERS
Young Seok Ki
SHIN & KIM
Eun-Kyung Kim
KOREA CREDIT BUREAU
Hyeon-Jeong Kim
KOREA INSTITUTE OF STARTUP
& ENTREPRENEURSHIP
DEVELOPMENT (KISED)
Hyo-Sang Kim
KIM & CHANG
Jennifer Min Sun Kim
SOJONG PARTNERS
Mike (Yeontaek) Kim
AHNSE LAW OFFICES
Min Sun Kim
SOJONG PARTNERS
Seong Won (David) Kim
HANARO TNS
Stephan Kim
SOJONG PARTNERS
Wonhyung Kim
YOON & YANG LLC
Yong-Seong Kim
SOJONG PARTNERS
Yoon Young Kim
HWANG MOK PARK PC
Youn Jong Kim
SHINHAN CUSTOMS SERVICE INC
...
Yeo
KIM & CHANG
Elizabeth Shinwon Yoon
SHINHAN CUSTOMS SERVICE INC
...

Vigan Rogova
ETHEM ROGOVA LAW FIRM
Ariana Rozhaja
VALA CONSULTING
Valentina Salihu
VALA CONSULTING
Arbena Shehu
NOTARY CHAMBER OF THE
REPUBLIC OF KOSOVO
Teki Shehu
CHECCHI COMPANY &
CONSULTING
Ardi Shita
CHECCHI COMPANY &
CONSULTING

285

286

DOING BUSINESS 2015

Lea Shllaku
IPAK
Lens Slattengren
INTERLEX ASSOCIATES LLC
Elez Sylaj
KOSOVA CHAMBER OF
COMMERCE
Kreshnik Thaqi
IPAK
Valon Uka
TLW
Luzlim Zeka
BAKER TILLY KOSOVO
Petrit Zeka
BAKER TILLY KOSOVO
Shaha Zylfiu
CENTRAL BANK OF THE
REPUBLIC OF KOSOVO

KUWAIT
BARQ AL KHALEEJ TRADING &
CONTRACTING CO
...
L
...

CREDIT INFORMATION NETWORK
FREIGHT EXCEL LOGISTICS
TALAL ABU GHAZALEH LEGAL
(TAG-LEGAL)
Labeed Abdal
THE LAW FIRM OF LABEED
ABDAL
Alaa Abdullah
PACKAGING & PLASTIC
INDUSTRIES CO
...
AL-AYOUB &
ASSOCIATES, MEMBER OF LEX
MUNDI
Ali Al Faqan
INTERNATIONAL COUNSEL
BUREAU
Fahad Al Zumai
KUWAIT UNIVERSITY
Aiman Alaraj
KEO INTERNATIONAL
CONSULTANTS
Abdullah Al-Ayoub
ABDULLAH KH
...
A
...
Al-Ghazali
THE LAW OFFICES OF MISHARI
AL-GHAZALI AND RAWAN
MISHARI AL-GHAZALI
Rawan M
...
KSCC
Nada Bourahmah
THE LAW OFFICES OF MISHARI
AL-GHAZALI AND RAWAN
MISHARI AL-GHAZALI

Kevin J
...

Mohammed Eissa
ASAR – AL RUWAYEH &
PARTNERS
Islam Ezzat
ASAR – AL RUWAYEH &
PARTNERS
Michel Ghanem
DLA PIPER
Sam Habbas
ASAR – AL RUWAYEH &
PARTNERS
Mazen A
...
KSCC
Dany Labaky
THE LAW OFFICE OF AL-ESSA &
PARTNERS
Mohammed Maamoun
PACKAGING & PLASTIC
INDUSTRIES CO
...
Albanova
Niyazbek Aldashev
LORENZ INTERNATIONAL LAW
FIRM

Dinara Batyrova
VERITAS LAW AGENCY

Nursultan Tokmanbetov
PARTNER LAW FIRM

Kerim Begaliev
COLIBRI LAW FIRM

Idaiat Toktash
LAW FIRM LEX

Richard Bregonje
PWC KAZAKHSTAN

Anastasiia Tsoi
LORENZ INTERNATIONAL LAW
FIRM

Daria Bulatova
LORENZ INTERNATIONAL LAW
FIRM
Kurmanzhan Dastanbek Kyzy
KALIKOVA & ASSOCIATES LAW
FIRM
Bakytbek Djusupbekov
DEPARTMENT OF CADASTRE AND
REGISTRATION OF RIGHTS ON
IMMOVABLE PROPERTY
Samara Dumanaeva
LORENZ INTERNATIONAL LAW
FIRM
Asel Dzhamankulova
AMERICAN BAR ASSOCIATION
RULE OF LAW INITIATIVE (ABA
ROLI)
Rahat Dzhusupbekov
KAPGRADSTROI
Akjoltoi Elebesova
CREDIT INFORMATION BUREAU
ISHENIM
Albina Fakerdinova
DELOITTE

Abdul Qayyum Saeed
GH LAW FIRM

Aliya Ibrayeva
PWC KAZAKHSTAN

Waleed Sameer
INTERNATIONAL COUNSEL
BUREAU

Evgeny Kim
LORENZ INTERNATIONAL LAW
FIRM

Sherif Shawki Abdel Fattah
PRICEWATERHOUSECOOPERS
AL-SHATTI & CO
...
AL-AYOUB &
ASSOCIATES, MEMBER OF LEX
MUNDI

Nurbek Maksutov
INTERNATIONAL BUSINESS
COUNCIL

Yulia Abdumanapova
BAKER TILLY BISHKEK LLC
Aidana Soyuzbekovna
Absultanova
Alexander Ahn
KALIKOVA & ASSOCIATES LAW
FIRM
Myrzagul Aidaralieva
LORENZ INTERNATIONAL LAW
FIRM
Shuhrat Akhmatakhunov
KALIKOVA & ASSOCIATES LAW
FIRM
Gulnara Akhmatova
LAWYER

Anna Shirshova
CUSTOMS CARGO SERVICE LTD
...

Khamsene Sayavong
LAO LAW & CONSULTANCY
GROUP
Prachith Sayavong
SOCIETE MIXTE DE TRANSPORT
(SMT)
Siri Sayavong
LAO LAW & CONSULTANCY
GROUP
Sivath Sengdouangchanh
ALLEN & GLEDHILL CO
...

Senesakoune Sihanouvong
DFDL
Latsamy Sysamouth
MINISTRY OF JUSTICE
Apisit Thiengtrongpinyo
PRICEWATERHOUSECOOPERS
(LAO) LTD
...
LTD
...


Zanda Frišfelde
SORAINEN

Rupert Haw
DFDL
Konrad Hull
VNA LEGAL SOLE CO
...

Duangkamol Ingkapattanakul
DFDL
Souphine Keomixai
ASSOCIATION OF LAO GARMENT
INDUSTRY

Elina Girne
AMBERLAW
Andris Ignatenko
ESTMA LTD
...


Dainis Leons
SADALES TĪKLS AS

Phantouleth Louangraj
ASIAN DEVELOPMENT BANK
Somphone Phasavath
LAO FREIGHT FORWARDER
CO
...

Khamphaeng Phochanthilath
VNA LEGAL SOLE CO
...


Indriķis Liepa
ATTORNEYS-AT-LAW BORENIUS
Linda Matisane
STATE LABOUR INSPECTORATE
Alexey Melsitov
MTA MARITIME TRANSPORT &
AGENCIES
Baiba Orbidane
LAWIN, MEMBER OF LEX MUNDI

ACKNOWLEDGMENTS

Guna Paidere
REGISTER OF ENTERPRISES

Wafic Fathallah
ESCO FATHALLAH & CO
...
Darlington Dahn, I
BAKER TILLY LIBERIA

Kristine Patmalniece
RAIDLA LEJINS & NORCOUS

Serena Ghanimeh
ABDELSATER ABUSAMRA &
ASSOCIATES - ASAS LAW

Rami Smayra
SMAYRA LAW OFFICE

Fonsia Donzo
CENTRAL BANK OF LIBERIA

George Tannous
BEIRUT INTERNATIONAL MOVERS
SARL

Uzoma Ebeku
COOPER & TOGBAH LAW OFFICE

Anastasija Pimenova
ZOOM ROOM
Baiba Plaude
LAW OFFICES BLUEGER &
PLAUDE
Ilze Rauza
PWC LATVIA
Elīna Semeņuka
SORAINEN
Māris Simulis
ATTORNEYS-AT-LAW BORENIUS
Mihails Špika
JSC DZINTARS
Zane Štālberga-Markvarte
MARKVARTE LEXCHANGE LAW
OFFICE
Ruta Teresko
AZ SERVICE LTD
...
ABBOUD &
ASSOCIATES
Nada Abdelsater-Abusamra
ABDELSATER ABUSAMRA &
ASSOCIATES - ASAS LAW
Wadih Abou Nasr
PWC LEBANON
Alina Achy
PWC LEBANON
Karen Baroud
PWC LEBANON
Jean Baroudi
BAROUDI & ASSOCIATES
Tarek Baz
HYAM G
...

Izzat Fathallah
ESCO FATHALLAH & CO
...


Georges Kadige
KADIGE & KADIGE LAW FIRM

Realeboha Makamane
HIGH COURT

Michel Kadige
KADIGE & KADIGE LAW FIRM

Pakalitha Makhohlisa
TRANSELEC CONSULTING
ENGINEERS PTY
...


Bassam Karam
RAPHAËL & ASSOCIÉS
Joelle Khater
BADRI AND SALIM EL MEOUCHI
LAW FIRM, MEMBER OF
INTERLEGES
Najib Khattar
KHATTAR ASSOCIATES
Lena Maalouf
SMAYRA LAW OFFICE
Abdo Maatouk
SMAYRA LAW OFFICE
Christine Maksoud
BAROUDI & ASSOCIATES
Georges Mallat
HYAM G
...
MALLAT LAW FIRM
Aline Matta
TALAL ABU GHAZALEH LEGAL
(TAG-LEGAL)

Thakane Makume
LESOTHO ELECTRICITY
COMPANY PTY
...

Leoma Matamane
MOLEPE QUANTITY SURVEYORS

Robert Freeman
COOPER & TOGBAH LAW OFFICE
Deweh Gray
FEMALE LAWYERS ASSOCIATION
OF LIBERIA
Abeku Gyan-Quansah
PWC GHANA
Cyril Jones
JONES & JONES
Mohamedu F
...
SEPHOMOLO CHAMBERS

Toufic Nehme
LAW OFFICES OF ALBERT LAHAM

Phoka Thene
Sechaba Thibeli
TRIANGLE FREIGHT

Mustapha Wesseh
CENTER FOR NATIONAL
DOCUMENTS & RECORDS
(NATIONAL ARCHIVES)
Phillip Williams
MINISTRY OF LABOUR & SOCIAL
SECURITY

LIBYA
ZAHAF & PARTNERS LAW FIRM
Ahmed Abdulaziz
MUKHTAR, KELBASH &
ELGHARABLI
Abdul Baset Al Baghdadi
UNITED LAWYERS FOR
ADVOCACY AND LEGAL SERVICES
LLC

Mireille Richa
TYAN & ZGHEIB LAW FIRM

George Thokoa
MASERU ELECTRO SERVICES
PTY LTD
...
R
...


Ahmed Kafala
GOLDEN PLANNER
ARCHITECTURE AND
ENGINEERING

Mona Sfeir
HYAM G
...
Bonah
Henry N
...
Augustus Caesar Jr
...

Henry Reed Cooper
COOPER & TOGBAH LAW OFFICE

Bahloul Kelbash
MUKHTAR, KELBASH &
ELGHARABLI
Ibrahim Maher
TUMI LAW FIRM - IN
ASSOCIATION WITH SNR
DENTON

Darius Dieckus
BANK OF LITHUANIA
Giedre Domkute
AAA BALTIC SERVICE COMPANY
- LAW FIRM
Yvonne Goldammer
BNT HEEMANN KLAUBERG
KRAUKLIS APB
Dovile Greblikiene
LAWIN
Arturas Gutauskas
LAW OFFICE VARUL AND
PARTNERS
Frank Heemann
BNT HEEMANN KLAUBERG
KRAUKLIS APB
Robert Juodka
LAW OFFICE VARUL AND
PARTNERS
Inga
Karulaityte-Kvainauskiene
PROVENTUSLAW LT UAB
Romualdas Kasperavičius
STATE ENTERPRISE CENTRE OF
REGISTERS
Jonas Kiauleikis
ATTORNEYS-AT-LAW BORENIUS
Jurgita Kiščiūnaitė
LAW FIRM ZABIELA, ZABIELAITE
& PARTNERS
Janus Kizenevic
LAW OFFICE VARUL AND
PARTNERS

287

288

DOING BUSINESS 2015

Tomas Kontautas
LAW FIRM SORAINEN &
PARTNERS VILNIUS OFFICE

Andrius Šidlauskas
ATTORNEYS-AT-LAW BORENIUS

Alain Grosjean
BONN & SCHMITT

Benita Beleshkova
IKRP ROKAS & PARTNERS

Ivana Lekic
PWC MACEDONIA

Kristina Kiščiūnaitė
PWC LITHUANIA

Justinas Sileika
BNT HEEMANN KLAUBERG
KRAUKLIS APB

Andreas Heinzmann
BONN & SCHMITT

Vera Belkoska
CENTRAL REGISTRY OF THE
REPUBLIC OF MACEDONIA

Aleksandar Malezanski
LAW FIRM TRPENOSKI

Ronaldas Kubilius
PWC LITHUANIA

Justina Šilinskaite
EVERSHEDS SALADZIUS

Gediminas Kuncevicius
INTERMODAL CONTAINER
SERVICE

Mingailė Šilkūnaitė
GLIMSTEDT

Vincent Hieff
CHAMBER OF COMMERCE OF THE
GRAND-DUCHY OF LUXEMBOURG

Rimantas Simaitis
RAIDLA LEJINS & NORCOUS

Véronique Hoffeld
LOYENS & LOEFF

Simonas Skukauskas
ATTORNEYS-AT-LAW BORENIUS

Christian Jungers
KLEYR GRASSO

Tomas Soltanovičius
ATTORNEYS-AT-LAW BORENIUS

François Kremer
ARENDT & MEDERNACH

Simona Stančiukaitė
LAW FIRM SORAINEN &
PARTNERS VILNIUS OFFICE

Antoine Laniez
LOYENS & LOEFF

Egidijus Kundelis
PWC LITHUANIA
Odeta Maksvytytė
LAW OFFICE VARUL AND
PARTNERS
Linas Margevicius
LEGAL BUREAU OF LINAS
MARGEVICIUS
Vilius Martišius
LAW FIRM OF REDA ZABOLIENE
Rūta Matonienė
VILNIUS CITY MUNICIPALITY
Vaidotas Melynavicius
AAA BALTIC SERVICE COMPANY
- LAW FIRM
Tomas Mieliauskas
LAW FIRM YVES
Bronislovas Mikūta
STATE ENTERPRISE CENTRE OF
REGISTERS

Marius Stračkaitis
LITHUANIAN CHAMBER OF
NOTARIES
Alina Streckyte
LAW FIRM LAWIN, MEMBER OF
LEX MUNDI
Daiva Ušinskaitė-Filonovienė
TARK GRUNTE SUTKIENE
Lukas Vaisvila
LAW OFFICE VARUL AND
PARTNERS

Eugenijus Miliukas
LAW FIRM SORAINEN &
PARTNERS VILNIUS OFFICE

Vygantas Vaitkus
NATIONAL CONTROL
COMMISSION FOR PRICES AND
ENERGY

Donata Montvydaite
LAW FIRM LAWIN, MEMBER OF
LEX MUNDI

Vilija Vaitkutė Pavan
LAW FIRM LAWIN, MEMBER OF
LEX MUNDI

Žygimantas Pacevičius
ATTORNEYS-AT-LAW BORENIUS

Adrijus Vegys
BANK OF LITHUANIA

Michail Parchimovič
MOTIEKA & AUDZEVIČIUS

Agnietė Venckiene
LAW FIRM SORAINEN &
PARTNERS VILNIUS OFFICE

Algirdas Pekšys
LAW FIRM SORAINEN &
PARTNERS VILNIUS OFFICE
Mantas Petkevičius
LAW FIRM SORAINEN &
PARTNERS VILNIUS OFFICE
Angelija Petrauskienė
VILNIUS CITY MUNICIPALITY
Aidas Petrosius
STATE ENTERPRISE CENTRE OF
REGISTERS
Justina Rakauskaitė
GLIMSTEDT
Karina Rakauskaitė
NATIONAL CONTROL
COMMISSION FOR PRICES AND
ENERGY
Liudas Ramanauskas
LAW FIRM SORAINEN &
PARTNERS VILNIUS OFFICE
Marius Rindinas
LAW FIRM ZABIELA, ZABIELAITE
& PARTNERS
Laura Ryzgelytė
LAW FIRM SORAINEN &
PARTNERS VILNIUS OFFICE
Vytautas Sabalys
LAW FIRM SORAINEN &
PARTNERS VILNIUS OFFICE
Auste Saliamoraite
LAW FIRM LAWIN, MEMBER OF
LEX MUNDI
Simona Šarkauskaitė
LAW FIRM ZABIELA, ZABIELAITE
& PARTNERS
Egidijus Šatrauskas
AB LESTO

Tomas Venckus
LAW OFFICE VARUL AND
PARTNERS
Darius Zabiela
LAW FIRM ZABIELA, ZABIELAITE
& PARTNERS
Ernesta Žiogienė
LAW OFFICE VARUL AND
PARTNERS
Audrius Žvybas
GLIMSTEDT

LUXEMBOURG
ALLEN & OVERY LUXEMBOURG
PWC LUXEMBOURG
Hugo Arellano
LOYENS & LOEFF
Christian Barandao-Bakele
ARENDT & MEDERNACH
Louis Berns
ARENDT & MEDERNACH
Eleonora Broman
LOYENS & LOEFF
Guy Castegnaro
IUS LABORIS LUXEMBOURG,
CASTEGNARO

Patricia Hemmen
ARENDT & MEDERNACH

Paul Lanois
Olivier Lardinois
BNP PARIBAS
Tom Loesch
LAW FIRM LOESCH
Nathalie Mangen
BONN & SCHMITT
Jeannot Medinger
CREOS LUXEMBOURG SA
Marc Meyer
CREOS LUXEMBOURG SA
Paul Mousel
ARENDT & MEDERNACH
Marco Peters
CREOS LUXEMBOURG SA
Françoise Pfeiffer
SPEECHLY BIRCHAM PFEIFFER &
PARTNERS
Alexandra Pizzo
BNP PARIBAS
Judith Raijmakers
LOYENS & LOEFF
Sandra Rapp
KLEYR GRASSO
Jean-Luc Schaus
PIERRE THIELEN AVOCATS
Roger Schintgen
PAUL WURTH SA SOCIÉTÉ
Alex Schmitt
BONN & SCHMITT
Frank Thihatmar
AVEGA RÉVISION SARL MEMBER OF RUSSELL BEDFORD
INTERNATIONAL
Bénédicte Zahnd
BNP PARIBAS

MACEDONIA, FYR
Igor Aleksandrovski
APOSTOLSKA &
ALEKSANDROVSKI
Ljubinka Andonovska
CENTRAL REGISTRY OF THE
REPUBLIC OF MACEDONIA
Natasha Andreeva
NATIONAL BANK OF THE
REPUBLIC OF MACEDONIA
Zlatko Antevski
LAWYERS ANTEVSKI

Ariane Claverie
IUS LABORIS LUXEMBOURG,
CASTEGNARO

Emilija Apostolska
APOSTOLSKA &
ALEKSANDROVSKI

Gérard Eischen
CHAMBER OF COMMERCE OF THE
GRAND-DUCHY OF LUXEMBOURG

Rubin Atanasoski
TIMELPROJECT ENGINEERING

Vaneesa Freed
LOYENS & LOEFF

Maja Atanasova
GEORGI DIMITROV ATTORNEYS
Ljupka Avramovic
SINKO DOO

Dragan Blažev
TIMELPROJECT ENGINEERING
Slavica Bogoeva
MACEDONIAN CREDIT BUREAU
AD SKOPJE
Sandra Cakmakova
CAKMAKOVA ADVOCATES
Ljupco Cubrinovski
ENERGO DIZAJN
Dragan Dameski
DDK ATTORNEYS-AT-LAW
Georgi Dimitrov
GEORGI DIMITROV ATTORNEYS
Ana Georgievska
DIMA FORWARDERS
Dimche Georgievski
DIMA FORWARDERS
Bojan Georvski
IKRP ROKAS & PARTNERS
Katarina Ginoska
GEORGI DIMITROV ATTORNEYS
Marijana Gjoreska
CENTRAL REGISTRY OF THE
REPUBLIC OF MACEDONIA
Oliver Gjurovski
CENTRAL REGISTRY OF THE
REPUBLIC OF MACEDONIA
Werner Hengst
EVN MACEDONIA
Aleksandar Ickovski
Jasmina Ilieva Jovanovikj
DDK ATTORNEYS-AT-LAW

Miroslav Marchev
PWC MACEDONIA
Mirjana Markovska
STOJKOSKA ATTORNEY-AT-LAW
Elena Miceva
DDK ATTORNEYS-AT-LAW
Oliver Mirchevski
EVN MACEDONIA
Sladjana Miteva
TIVA-AS D
...
O
...
L
...
O
...


Svetlana Jovanoska
MUNICIPALITY OF GAZI BABA
- SKOPJE
Aneta Jovanoska Trajanovska
LAWYERS ANTEVSKI
Stefan Jovanovski
PWC MACEDONIA
Lenche Karpuzovska
EVN MACEDONIA
Emilija Kelesoska Sholjakovska
DDK ATTORNEYS-AT-LAW
Dejan Knezović
LAW OFFICE KNEZOVIC &
ASSOCIATES
Vancho Kostadinovski
CENTRAL REGISTRY OF THE
REPUBLIC OF MACEDONIA
George Kostov
TP GJORGE KOSTOV – SKOPJE
Ivana Kostovska
APOSTOLSKA &
ALEKSANDROVSKI
Dimitar Kostovski
CAKMAKOVA ADVOCATES
Irena Lazarova
CENTRAL REGISTRY OF THE
REPUBLIC OF MACEDONIA

Goran Rafajlovski
RAFAJLOVSKI KONSALTING
D
...
O
...
O
...

Blagoj Stojevski
EVN MACEDONIA
Margareta Taseva
CAKMAKOVA ADVOCATES

ACKNOWLEDGMENTS

Dragica Tasevska
NATIONAL BANK OF THE
REPUBLIC OF MACEDONIA

Fetrahanta Sylviane
Rakotomanana
PWC MADAGASCAR

Borjanka Todorovska
DONEVSKI LAW FIRM

Harivola Joan Rakotomanjaka
MADAGASCAR CONSEIL
INTERNATIONAL

Toni Trajkovski
MUNICIPALITY OF GAZI BABA
- SKOPJE
Svetlana Trendova
APOSTOLSKA &
ALEKSANDROVSKI
Stefan Trost
EVN MACEDONIA
Natasha Trpenoska
Trenchevska
LAW FIRM TRPENOSKI
Slavce Trspeski
AGENCY FOR REAL ESTATE
CADASTRE
Vladimir Vasilevski
BETASPED D
...
O
...
O
...

Sonja Zuber
ANALYTICA MK

MADAGASCAR
BANQUE CENTRALE DE
MADAGASCAR
BUILD CONSULTING ENGINEERS
JUDGE NATANAELA
RAKOTOMANANA
Serge Andretseheno
CABINET AS ARCHITECTE
Tsiry Andriamisamanana
MADAGASCAR CONSEIL
INTERNATIONAL
Herilova Andriampenomanana
PRICEWATERHOUSECOOPERS
TAX AND LEGAL
Eddy Ramangason
Andrianarisoa
AVOCAT AU BARREAU DE
MADAGASCAR
Yves Duchateau
SDV LOGISTICS
Raphaël Jakoba
MADAGASCAR CONSEIL
INTERNATIONAL
Hanna Keyserlingk
CABINET HK JURIFISC
Ravelojaona Marie Albert
JIRO SY RANO MALAGASY
(JIRAMA)
Pascaline R
...
FFOOKS &
CO
...
CONTROL SYSTEMS AND
ENERGY MANAGEMENT
Davis Njobvu
SAVJANI & CO
...


Lanto Tiana Ralison
PWC MADAGASCAR

Shiraz Yusuf
ERNST & YOUNG

Roland Ramarijaona
DELTA AUDIT DELOITTE
Laingo Ramarimbahoaka
MADAGASCAR CONSEIL
INTERNATIONAL
Heridja Patrick Ramaroson
MINISTÈRE DE LA JUSTICE
Heritiana Rambeloson
JIRO SY RANO MALAGASY
(JIRAMA)
William Randrianarivelo
PWC MADAGASCAR
Fetiarinjara Randrianarivo
MADAGASCAR LAW OFFICES
Sahondra Rasoarisoa
DELTA AUDIT DELOITTE
Michael Ratrimo
MADAGASCAR INTERNATIONAL
CONTAINER TERMINAL SERVICES
LTD
...
LTD
...

Marshal Chilenga
TF & PARTNERS
Andrew Chimpololo
UNIVERSITY OF MALAWI
Gautoni D
...

Dannie J
...

Raphael Mhone
RACANE ASSOCIATES
Vyamala Aggriel Moyo
PWC MALAWI
Misheck Msiska
ERNST & YOUNG

MALAYSIA
BANK NEGARA MALAYSIA
Parameswaran A
...

Wilfred Abraham
ZUL RAFIQUE & PARTNERS,
ADVOCATE & SOLICITORS
Noorlida Hanum Ahmad
COMPANIES COMMISSION OF
MALAYSIA
Rosli Ahmad
COMPANIES COMMISSION OF
MALAYSIA
Azmi Mohs Ali
AZMI & ASSOCIATES
Andy
SUMISO
Wan Mohd Azzuddin
FOCUS ARCHITECTS
Mohd Zakri Baharudin
MALAYSIAN EMPLOYERS
FEDERATION
Anita Balakrishnan
SHEARN DELAMORE & CO
...
Said Abdullah
ENERGY COMMISSION
Ahmad Fuad bin Md Kasim
TENAGA NASIONAL BERHAD
Che Adnan Bin Mohamad
NADI CONSULT ERA SDN BHD
Tahir bin Mohd Deni
TENAGA NASIONAL BERHAD
Abdul Aziz Bin Yusoff
KUALA LUMPUR CITY HALL

Ria Binti Sachlin
DEPARTMENT OF DIRECTOR
GENERAL OF LAND & MINES
Chiah Kim Chai
MALAYSIA BAR COUNCIL
Janet Chai
CHOOI & ASSOCIATES
Hong Yun Chang
TAY & PARTNERS
Mary Chin Chee Foong
HSBC MALAYSIA
David Foo Khar Ching
NATIONAL HOUSE BUYERS
ASSOCIATION
H
...
Chong
AZMAN, DAVIDSON & CO
...

Eddie Chuah
WONG & PARTNERS
Tze Keong Chung
CTOS DATA SYSTEMS SDN BHD
Wong Tat Chung
WONG BEH & TOH
Melinda Marie D’Angelus
AZMI & ASSOCIATES
Mohd Naim Daruwish
COMPANIES COMMISSION OF
MALAYSIA
Nadesh Ganabaskaran
ZUL RAFIQUE & PARTNERS,
ADVOCATE & SOLICITORS
Sabariah Ghazali
MINISTRY OF INTERNATIONAL
TRADE AND INDUSTRY
Tiew Hai San
MINISTRY OF FEDERAL
TERRITORIES AND URBAN
WELLBEING
Ar
...

Wai Hsian Lian
AZMI & ASSOCIATES
Joo Ho Lim
ZUL RAFIQUE & PARTNERS,
ADVOCATE & SOLICITORS
Koon Huan Lim
SKRINE, MEMBER OF LEX MUNDI
San Peen Lim
PWC MALAYSIA
Chang Kim Loong
NATIONAL HOUSE BUYER
ASSOCIATION
Ahmad Lufti Abdull Mutalip
AZMI & ASSOCIATES
Ir
...
Shukor Marsuhaida
MINISTRY OF INTERNATIONAL
TRADE AND INDUSTRY
Suzana Mohd Razali
COMPANIES COMMISSION OF
MALAYSIA
Zuhaidi Mohd Shahari
AZMI & ASSOCIATES
Shameen Mohd
...


Connie Ng
PANALPINA WORLD TRANSPORT
LLP

Ray Chong Kok Hou
SHOOK LIN & BOK

Oy Moon Ng
CTOS DATA SYSTEMS SDN BHD

Michael Chiam Tow Hui
COMMERCIAL EMPLOYERS’
ASSOCIATION OF PENINSULAR
MALAYSIA

Swee Kee Ng
SHEARN DELAMORE & CO
...
Fauzi Abdul Kayum
EDARAN IT SERVICES SDN BHD

Mahadi Ngah
KUALA LUMPUR CITY HALL
Allison Ong
AZMAN, DAVIDSON & CO
...
Rahman
MINISTRY OF URBAN WELLBEING
HOUSING AND LOCAL
GOVERNMENT
Nirmala Ramadass
COMPANIES COMMISSION OF
MALAYSIA
Zulaini Rohani
PORT KLANG AUTHORITIES

289

290

DOING BUSINESS 2015

Siti Zurina Sabarudin
AZMI & ASSOCIATES
Shaleni Sangaran
SKRINE, MEMBER OF LEX MUNDI
Andy Seo
Fiona Sequerah
CHRISTOPHER LEE & CO
...


MALDIVES
ENVIRONMENTAL PROTECTION
AGENCY

Nianti Bouaré
LABOGEC - LABORATOIRE GÉNIE
CIVIL

MALÉ CITY COUNCIL

Amadou Camara
SCP CAMARA TRAORÉ

MINISTRY OF HOUSING AND
INFRASTRUCTURE

Céline Camara Sib
ETUDE ME CELINE CAMARA SIB

Jatindra Bhattray
PWC MALDIVES

Elvis Danon
PWC CÔTE D’IVOIRE

Pierre Buttigieg
CSB ADVOCATES

Asma Chan-Rahim
SHAH, HUSSAIN & CO
...
LTD
...
G
...

BARRISTERS & ATTORNEYS

Abdoul Karim Kone
CABINET BERTH - KONE AVOCATS ASSOCIÉS

Ee Ling Tan
TAY & PARTNERS

Abdul Rasheed Ibrahim
CUSTOMS SERVICE

Siriki Zana Kone
CABINET JURI-PARTNER

Shehan Kurukuththala
ERNST & YOUNG

Adeline Messou
PWC CÔTE D’IVOIRE

Nasiha Malik
SHAH, HUSSAIN & CO
...
Meuke
JURIFIS CONSULT

Laila Manik
ATTORNEY

Sahrom Ujang
KUALA LUMPUR CITY HALL

Prasanta Misra
PWC MALDIVES

Sue Wan
WONG & PARTNERS

Abdulla Muizzu
PRAXIS LAW FIRM

Wan Rosmawati Wan Ibrahim
MALAYAN BANKING BERHAD

Ahmed Murad
MAZLAN & MURAD LAW
ASSOCIATES

Chee Lin Wong
SKRINE, MEMBER OF LEX MUNDI
Justin Wong
AZMI & ASSOCIATES
Yim Fat Wong
THE ASSOCIATED CHINESE
CHAMBERS OF COMMERCE
AND INDUSTRY OF MALAYSIA
(ACCCIM)

Ismail Mohd Yusof
KUALA LUMPUR CITY HALL
Norina Zainol Abidin
MALAYSIA DEPARTMENT OF
INSOLVENCY
Mohamad Hazrin Zakaria
PEJABAT TANAH DAN GALIAN
SELANGOR
Megat Zulazizi B
...
Sangaré
NOTARY
Moussa Sanogo
BCEAO
Djibril Semega
CABINET SEAG CONSEIL

Boubacar Thiam
ASSOCIATION PROFESSIONNELLE
DES BANQUES ET
ETABLISSEMENT FINANCIERS
DU MALI

Ismail Rasheed
ARCHITECT
Gayan Senanyake
KPMG

Shuaib M
...

BARRISTERS & ATTORNEYS

Chui Wen Yong
AZMI & ASSOCIATES

Vanja Ramanandraitsiory
CABINET JOHN W
...
, MEMBER OF BOWMAN
GILFILLAN AFRICA GROUP

Hussain Nazeer
OTIUM GROUP

Clifford Eng Hong Yap
PWC MALAYSIA

Susan Yeo
CITY BANK

Yacouba Massaman Keïta

Dominique Taty
PWC CÔTE D’IVOIRE

Mohamed Shafaz Wajeeh
PRAXIS LAW FIRM

Henry Yeam
NATIONAL HOUSE BUYERS
ASSOCIATION

Mahaman Tahir Hamani
BCEAO

Ismail Nashid
MALDIVES CUSTOMS SERVICE

Wei Kwang Woo
WONG & PARTNERS

Elaine Yap
WONG & PARTNERS

Charles Buhagiar
MED DESIGN ASSOCIATES

Boubacar Coulibaly
MATRANS

Aishath Haifa
SHAH, HUSSAIN & CO
...
Bugeja
CSB ADVOCATES

Johann Buttigieg
MALTA ENVIRONMENT &
PLANNING AUTHORITY (MEPA)

Mohamed Shahdy Anwar
SUOOD ANWAR & CO ATTORNEYS-AT-LAW

Adeline Thor Sue Lyn
RUSSELL BEDFORD LC
& COMPANY - MEMBER
OF RUSSELL BEDFORD
INTERNATIONAL

Cindy Thong
PANALPINA WORLD TRANSPORT
LLP

Nicolai Borg Sant
PWC MALTA

Fathimath Shaheen
Upul Shantha
KPMG

Imirane A
...
Zammit
CSB ADVOCATES

Don Hess
COLLEGE OF THE MARSHALL
ISLANDS
Jerry Kramer
PACIFIC INTERNATIONAL, INC
...

James McCaffrey
THE MCCAFFREY FIRM, LTD
...
Stege
LAW OFFICES OF SCOTT STEGE
Charles Stinnett
MAJURO STEVEDORE AND
TERMINAL COMPANY
David M
...
Cerullo
MARSHALL ISLANDS LAWYERS

Moulaye El Ghali Ould Moulaye
Ely
AVOCAT

Fathimath Sodhaf
MALDIVES CUSTOMS SERVICE

Bassambie Bationo
BCEAO

Paul Bonello
MINISTRY OF FINANCE
DEPARTMENT OF CUSTOMS
Kris Borg
DR KRIS BORG & ASSOCIATES
- ADVOCATES
Mario Raymond Borg
INLAND REVENUE DEPARTMENT

MARSHALLS ENERGY COMPANY

Raquel De Leon
MARSHALL ISLANDS SOCIAL
SECURITY ADMINISTRATION
Anthony Frazier

Ahmed Ould Radhi
BANQUE CENTRALE DE
MAURITANIE

Avelino R
...

MARSHALL ISLANDS SOCIAL
SECURITY ADMINISTRATION

Aliou Sall
ETUDE ME ALIOU SALL &
ASSOCIÉS

ACKNOWLEDGMENTS

Cheikh Sall
ETUDE HADY MAOULOUDVALL

Raymond Marie Marc Hein
JURISTCONSULT CHAMBERS

Mohamad Issa Soormally
BANK OF MAURITIUS

Carlos Chávez
GALICIA ABOGADOS SC

Aicha Coura Samake
BSD & ASSOCIÉS

Rubishwur Hemoo
MINISTRY OF LOCAL
GOVERNMENT AND OUTER
ISLANDS

Oudesh Suddul
KROSS BORDER TRUST
SERVICES LTD
...
- MEMBER
OF RUSSELL BEDFORD
INTERNATIONAL

Latasha Bissessur Jugroo
BANYMANDHUB BOOLELL
CHAMBERS

Nitish Hurnaum
GEROUDISGLOVER
GHURBURRUN

Jean-François Boisvenu
BLC CHAMBERS

Imalambal Kichenin
JURISTAX

Urmila Boolell
BANYMANDHUB BOOLELL
CHAMBERS

Poornima Kisto
PWC MAURITIUS

Poonam Calcutteea
BLC CHAMBERS

James John Lenaghan
CUSTOMS AND EXCISE
DEPARTMENT

Nicolas Carcasse
DAGON INGENIEUR CONSEIL LTÉE

Anthony Leung Shing
PWC MAURITIUS

D
...
Chinien
REGISTRAR OF COMPANIES
AND BUSINESSES, CORPORATE
AND BUSINESS REGISTRATION
DEPARTMENT

Jayram Luximon
CEB

Sandy Chuong
GEROUDISGLOVER
GHURBURRUN
Chandansingh Chutoori
VYYAASS CONSULTING
ENGINEER LTD
...

Loganayagan Munian
ARTISCO INTERNATIONAL
Mushtaq Namdarkhan
BLC CHAMBERS

Roland Constantin
ETUDE CONSTANTIN

Khemila Narraidoo
JURISTCONSULT CHAMBERS

Bert C
...


Bilshan Nursimulu
JURISTCONSULT CHAMBERS

Rajendra Dassyne
CHAMBERS OF NOTARIES OF
MAURITIUS
Catherine de Rosnay
LEGIS & PARTNERS
Sufyaan Dosemahamed
PWC MAURITIUS
Shalinee Dreepaul-Halkhoree
JURISTCONSULT CHAMBERS
Yannick Fok
GEROUDISGLOVER
GHURBURRUN
Poonam Geemul
BANYMANDHUB BOOLELL
CHAMBERS
Gavin Glover
GEROUDISGLOVER
GHURBURRUN
J
...
Thakoor
BANK OF MAURITIUS
Shiam Krisht Thannoo
CEB
Muhammad R
...
Uteem
UTEEM CHAMBERS
Aynur Visram
BANYMANDHUB BOOLELL
CHAMBERS

MEXICO
Francisco Acevedo Ramos
INSTALACIONES ELÉCTRICAS EN
ALTA Y BAJA TENSIÓN ACEVEDO
SA DE CV
Beatriz A
...
Alarcón Caballero
BAKER & MCKENZIE
Alejandro Aldrette Aguirre
CANALES Y SOCIOS ABOGADOS
SC
Jaime Alejandro Gutiérrez Vidal
INSTITUTO FEDERAL DE
ESPECIALISTAS DE CONCURSOS
MERCANTILES
Gabriel Andrade
KPMG
José Manuel Arce Ruíz
STANDARD GO
Francisco Samuel Arias
González
NOTARY PUBLIC 28
José Alejandro Astorga Hilbert
INSTITUTO FEDERAL DE
ESPECIALISTAS DE CONCURSOS
MERCANTILES
Alfonso Azcona Anaya
ZITYMERKA SA DE CV
Antonio Barrera Ríos
SÁNCHEZ DEVANNY ESEVERRI,
S
...
Beltrán Cavazos
EUROPARTNERS
Gilberto Calderon
GALAZ, YAMAZAKI, RUIZ
URQUIZA SC, MEMBER OF
DELOITTE TOUCHE TOHMATSU
LIMITED
Enrique Camarena Dominguez
MAQUEO ABOGADOS SC
Carlos Cano
PWC MEXICO
Homero Cantú
NOTARIA 71 - NUEVO LEÓN

Geetanjali Seewoosurrun
CEB

Fernando Antonio Cardenas
Gonzalez
NOTARY PUBLIC #44

Gilbert Seeyave
BDO FINANCIAL SERVICES LTD
...
C
Julio César Cristiani Arce
MIRANDA & ESTAVILLO SC
Miguel de la Fuente
NADER, HAYAUX & GOEBEL
Carlos De la Garza
MARTINEZ, ALGABA, DE HARO,
CURIEL Y GALVAN-DUQUE SC
Jorge de Presno
BASHAM, RINGE Y CORREA,
MEMBER OF IUS LABORIS
Nicolas del Olmo
NDA NAJERA DANIELI & ASOCS
...
A
...

MOORE STEPHENS OROZCO
MEDINA SC
Dolores Enriquez
PWC MEXICO
Miguel Espitia
BUFETE INTERNACIONAL
Martha Samira Esquiliano
Sllim
CREEL, GARCÍA-CUÉLLAR, AIZA Y
ENRIQUEZ SC
Lucía Fernández
GONZALEZ CALVILLO SC
Victor Fernandez Sanchez
COMISIÓN FEDERAL DE
ELECTRICIDAD
Miguel Angel Ferriz
FEGAMO Y VASAF SC

Jose Martin Garcia
GALAZ, YAMAZAKI, RUIZ
URQUIZA SC, MEMBER OF
DELOITTE TOUCHE TOHMATSU
LIMITED
Luis Alfonso García
Campuzano
KURI BREÑA, SÁNCHEZ UGARTE
Y AZNAR SC
Mauricio Garza Bulnes
J
...
TREVIÑO ABOGADOS SA
DE CV
Hans Goebel
NADER, HAYAUX & GOEBEL
Alfredo Gómez Pérez
KURI BREÑA, SÁNCHEZ UGARTE
Y AZNAR SC
Patricia Gonzalez
PWC MEXICO
Alvaro Gonzalez-Schiaffino
PWC MEXICO
James Graham
DEFOREST ABOGADOS
Andres Guerra Gomez
GUERRA GOMEZ HERNANDEZ
ABOGADOS
Antonio Guerra Gomez
GUERRA GOMEZ HERNANDEZ
ABOGADOS
Ignacio Oswaldo Guillén Ángel
LOPEZ VELARDE, HEFTYE Y
SORIA SC
Mario Alberto Gutiérrez
PWC MEXICO
Yves Hayaux-du-Tilly
NADER, HAYAUX & GOEBEL
Francisco Abimael Hernández
SOLÓRZANO, CARVAJAL,
GONZÁLEZ Y PÉREZ-CORREA,
S
...
C

Pedro Flores Carillo
MOORE STEPHENS OROZCO
MEDINA SC

Leonor Llamas
GOODRICH, RIQUELME Y
ASOCIADOS

Julio Flores Luna
GOODRICH, RIQUELME Y
ASOCIADOS

Salvador Alexandro López
Cavazos
INSTITUTO REGISTRAL Y
CATASTRAL DEL ESTADO DE
NUEVO LEÓN

Manuel Galicia
GALICIA ABOGADOS SC
Mauricio Gamboa
TRANSUNION DE MEXICO SA SIC
Francisco Andrés
Gámez-Garza
SÁNCHEZ DEVANNY ESEVERRI
SC

Alfonso López Lajud
SÁNCHEZ DEVANNY ESEVERRI,
S
...
C

Esteban Maqueo Barnetche
MAQUEO ABOGADOS SC

Guillermo Piecarchic
PMC & ASOCIADOS

José Antonio Marquez
González
NOTARY PUBLIC #2

Gizeh Polo Ballinas
CREEL, GARCÍA-CUÉLLAR, AIZA Y
ENRIQUEZ SC

José Martínez
NOTARÍA PÚBLICA 29 - NUEVO
LEÓN

Francisco Puente Peña
INSTALACIONES ELÉCTRICAS EN
ALTA Y BAJA TENSIÓN ACEVEDO
SA DE CV

Yazbek Taja
RIVADENEYRA, TREVINO & DE
CAMPO SC
Miguel Téllez
CREEL, GARCÍA-CUÉLLAR, AIZA Y
ENRIQUEZ SC
Juan Francisco Torres Landa
Ruffo
BARRERA, SIQUEIROS Y TORRES
LANDA SC

Douglas Nelber
POHNPEI STATE DEPARTMENT
OF LANDS AND NATURAL
RESOURCES
Ronald Pangelinan
A&P ENTERPRISES, INC
...
Treviño
J
...
TREVIÑO ABOGADOS

Salomon Saimon
MICRONESIAN LEGAL SERVICES
CORPORATION

Carlos Treviño Vives
DEFOREST ABOGADOS

Nora Sigrah
FSM DEVELOPMENT BANK

Maribel Trigo Aja
GOODRICH, RIQUELME Y
ASOCIADOS

Larry Wentworth
FSM SUPREME COURT

Layla Vargas Muga
GOODRICH, RIQUELME Y
ASOCIADOS

MOLDOVA

Eduardo Reyes Díaz-Leal
BUFETE INTERNACIONAL
Claudia Ríos
PWC MEXICO

Favio Camilo Vazquez Lopez
SANTAMARINA Y STETA SC

Mario Morales
COMISIÓN FEDERAL DE
ELECTRICIDAD

Fernando Rivadeneyra
RIVADENEYRA, TREVINO & DE
CAMPO SC

Diego Velasco-Fuhrken
BAKER & MCKENZIE

Ricardo Morales-Barron
FEGAMO Y VASAF SC

Jose Ignacio Rivero
GONZALEZ CALVILLO SC

Daniel Moran
GONZALEZ CALVILLO SC

Irazu Rodríguez Garza
COMISIÓN FEDERAL DE
ELECTRICIDAD

Ana Lilia Martínez Valdés
SECRETARÍA DE ECONOMÍA MINISTRY OF ECONOMY
Carla E
...
Montemayor
PWC MEXICO
Erika Mora Tinoco
SÁNCHEZ DEVANNY ESEVERRI,
S
...
Muñoz M
...

Carlos Narváez Alarcón
INSTALACIONES Y PROYECTO DEL
NORTE SA DE CV (IPNSA)
Javier Luis Navarro Velasco
BAKER & MCKENZIE, ABOGADOS
Gricelda Nieblas Aldana
INSTITUTO FEDERAL DE
ESPECIALISTAS DE CONCURSOS
MERCANTILES
Pablo Nosti Herrera
MIRANDA & ESTAVILLO SC
María Isabel Nuñez Vargas
GONZALEZ CALVILLO SC
Juan Manuel Ochoa
RIVADENEYRA, TREVINO & DE
CAMPO SC
Luis Ordaz Ledezma
COMISIÓN FEDERAL DE
ELECTRICIDAD
María José Ortiz Haro
GALICIA ABOGADOS SC
Kathalina Chapa Peña
CAF-SIAC CONTADORES
Gabriel Peña Mouret
KURI BREÑA, SÁNCHEZ UGARTE
Y AZNAR SC
Arturo Perdomo
GALICIA ABOGADOS SC
Eduardo Perez Armienta
MOORE STEPHENS OROZCO
MEDINA SC
José Jacinto Pérez Silva
KE DESARROLLADORA SA DE CV

Alvaro Quintana
ALVARO QUINTANA SC
Manuel Ramos
BUFETTE DE OBRAS, SERVICIOS
Y SUMINISTROS SA DE CV

Cecilia Rojas
GALICIA ABOGADOS SC
Raúl Sahagun
BUFETE INTERNACIONAL
Juan Pablo Sainz
NADER, HAYAUX & GOEBEL
Jorge Bibiano Ruiz Sanchez
VISION GLOBAL INTEGRAL (VGI,
HUMAN LEGAL & TAX SERVICES)
Ignacio Sánchez
MULTITRASLADOS
Rodrigo Sanchez Mejorada
SÁNCHEZ-MEJORADA, VELASCO
Y RIBÉ
Cristina Sanchez Vebber
SÁNCHEZ DEVANNY ESEVERRI
SC
Cristina Sánchez-Urtiz
MIRANDA & ESTAVILLO SC

Alejandra Velazquez
COMAD SC
Adrian Villagomez Aleman
COMAD SC
Claudio Villavicencio
GALAZ, YAMAZAKI, RUIZ
URQUIZA SC, MEMBER OF
DELOITTE TOUCHE TOHMATSU
LIMITED
Juan Pablo Villela Vizcaya
CREEL, GARCÍA-CUÉLLAR, AIZA Y
ENRIQUEZ SC
Ernesto Viveros Domínguez
COLEGIO DE INGENIEROS
MECÁNICOS ELECTRICISTAS Y
ELECTRÓNICOS DE NUEVO LEÓN
(CIME-NL)
Judith A
...
STS
...


Enrique A
...


Ana Galus
TURCAN CAZAC

Enrique G
...
Saucedo
SANTOS & SAUCEDO

Mark Heath
MICRONESIA REGISTRATION
ADVISORS, INC
...
Saucedo
SANTOS & SAUCEDO

Albert Johnny
MESENIENG CREDIT UNION

Monica Schiaffino Pérez
LITTLER DE LA VEGA Y CONDE
SC

Jerry Kramer
PACIFIC INTERNATIONAL, INC
...
C
Arturo Suárez
KPMG

Charles Lohn
POHNPEI STATE ENVIRONMENTAL
PROTECTION AGENCY
Quirino Loyola
REGISTRAR OF CORPORATIONS,
POHJNPEI STATE GOVERNMENT
Sisananto Loyola
POHNPEI STATE ENVIRONMENTAL
PROTECTION AGENCY
Silberio S
...
LTD
...
O
...

Dragan Draca
PWC SERBIA

Christopher Melville
HOGAN LOVELLS

Veselin Dragićević
CHAMBER OF ECONOMY OF
MONTENEGRO, SECTOR FOR
ASSOCIATIONS AND ECONOMIC
DEVELOPMENT

Ganbat Munkhbold
GRATA LAW FIRM

Sladana Dragović
NORMAL COMPANY

Gerelmaa Myagmarsuren
LEHMAN, LEE & XU

Dragana Filipovic
MINISTRY OF SUSTAINABLE
DEVELOPMENT AND TOURISM

Daniel Mahoney
MAHONEY LIOTTA LLC

Mandy Batmandakh Bayarbat
MINTER ELLISON

Tuya Namsan
TITLE REGISTRATION
DEPARTMENT

T
...
Phillips
ANDERSON AND ANDERSON LLP

Nada Jovanovic
CENTRAL BANK OF
MONTENEGRO

David C
...
O
...

Bojana Pekovic
R&P AUDITING
Nikola Perović
PLANTAŽE
Novica Pesic
PESIC & BAJCETA
Zorica Pesic Bajceta
PESIC & BAJCETA
Ana Radivojević
PWC SERBIA
Andrea Radonjanin
MORAVČEVIĆ VOJNOVIĆ I
PARTNERI
Vladimir Radonjic
HARRISONS LAW FIRM

Azel-Arab Benjelloun
AGENCE D’ARCHITECTURE
D’URBANISME ET DE
DECORATION
Karim Benkirane
ESPACE TRANSIT
Mohamed Benkirane
ESPACE TRANSIT
Richard Cantin
JURISTRUCTURES - PROJECT
MANAGEMENT & LEGAL
ADVISORY SERVICES LLP
Mahat Chraibi
PWC ADVISORY MAROC
Driss Debbagh
KETTANI ASSOCIÉS

Yahia El Fadil
PWC ADVISORY MAROC
Moulay El Amine El Hammoumi
Idrissi
HAJJI & ASSOCIÉS
Naoufal El Khatib
MAZARS AUDIT ET CONSEIL
Hamid Errida
GARRIGUES MAROC
Driss Ettaki
ADMINISTRATION DES DOUANES
ET IMPOTS INDIRECTS
Nadia Fajr
AVOCATE AU BARREAU DE
CASABLANCA
Youssef Fassi Fihri
FYBA LAWYERS
Nasser Filali
ZIMAG
Bahya Ibn Khaldoun
UNIVERSITÉ M
...
SOUISSI RABAT,
MAROC
Agathe Jaudeau
CHASSANY WATRELOT &
ASSOCIÉS
Mehdi Kettani
KETTANI ASSOCIÉS
Nadia Kettani
KETTANI LAW FIRM
Rita Kettani
KETTANI ASSOCIÉS
Nabyl Lakhdar
ADMINISTRATION DES DOUANES
ET IMPOTS INDIRECTS
Amine Mahfoud
AMINE MAHFOUD NOTAIRE
Anis Mahfoud
ABOUAKIL, BENJELLOUN &
MAHFOUD AVOCATS
Noureddine Marzouk
PWC ADVISORY MAROC
Abdelkhalek Merzouki
ADMINISTRATION DES DOUANES
ET IMPOTS INDIRECTS
Lahlou M’hamed
ETUDE DE NOTARIAT MODERNE
Azdine Nekmouche
ORDRE DES ARCHITECTES DE
CASABLANCA
Abderrahim Outass
COMMUNE URBAINE DE
CASABLANCA
Hassane Rahmoun
ETUDE NOTARIALE HASSANE
RAHMOUN
Nesrine Roudane
NERO BOUTIQUE LAW FIRM
Ghalia Sebti
AIT MANOS
Rachid Senhaji
ORDRE DES ARCHITECTES DE
CASABLANCA
Khalil Yassir
YASSIR KHALIL STUDIO
Meryem Zoubir
CHASSANY WATRELOT &
ASSOCIÉS

MOZAMBIQUE
Calu Abubacar
ELECTROVISAO LDA

293

294

DOING BUSINESS 2015

Miguel Almeida
SAL & CALDEIRA ADVOGADOS
LDA

Fernanda Lopes
FERNANDA LOPES &
ASSOCIADOS ADVOGADOS

Carolina Balate
PWC MOZAMBIQUE

Rufino Lucas
TEC TÉNICOS CONSTRUTORES
LDA

Ebrahim Bhikha
PWC MOZAMBIQUE
Eduardo Calú
SAL & CALDEIRA ADVOGADOS
LDA
Adelia Canda
SILVA GARCIA
Henrique Castro
AMARO ARQUITECTOS E
ASSOCIADOS LDA
Liliana Chacon
CGA - COUTO, GRAÇA E
ASSOCIADOS, SOCIEDADE DE
ADVOGADOS
Pedro Couto
CGA - COUTO, GRAÇA E
ASSOCIADOS, SOCIEDADE DE
ADVOGADOS
Alcinda Cumba
FERNANDA LOPES &
ASSOCIADOS ADVOGADOS
Avelar da Silva
INTERTEK INTERNATIONAL LTD
...

SAL & CALDEIRA ADVOGADOS
LDA
Teresa Pala
MC&A - SOCIEDADE DE
ADVOGADOS RL
Álvaro Pinto Basto
CGA - COUTO, GRAÇA E
ASSOCIADOS, SOCIEDADE DE
ADVOGADOS
Diana Ramalho
SAL & CALDEIRA ADVOGADOS
LDA
Malaika Ribeiro
PWC MOZAMBIQUE
Paula Duarte Rocha
MOZAMBIQUE LEGAL CIRCLE
Belisário Tamele
MOZAMBIQUE LEGAL CIRCLE
Ricardo Veloso
GPA - GOUVEIA PEREIRA,
COSTA FREITAS & ASSOCIADOS,
SOCIEDADE DE ADVOGADOS RL

MYANMAR
AGX LOGISTICS MYANMAR
CO
...

ALLEN & OVERY MYANMAR
CARE FREIGHT SERVICES LTD
...

PRICEWATERHOUSECOOPERS
MYANMAR CO
...

Khin Leinmar Ban Aye
KELVIN CHIA YANGON LTD
...

Florence Grangerat
AUDIER & PARTNERS MYANMAR
CO
...

Chris Hughes
BAKER & MCKENZIE MYANMAR
LEGAL SERVICES LIMITED
Jean Loi
VDB LOI MYANMAR
Oliver Massmann
DUANE MORRIS & SELVAM
(MYANMAR)
Adam McCarty
MEKONG ECONOMICS
U Maung Maung (Arthur) Myint
LS HORIZON (MYANMAR)
LIMITED
SanSan Myint Wai (Susan)
LS HORIZON (MYANMAR)
LIMITED

Alessio Polastri
POLASTRI WINT & PARTNERS
Mya Sandar
LS HORIZON (MYANMAR)
LIMITED

Edward Kawesha
CITY OF WINDHOEK ELECTRICITY
DEPARTMENT

Rajan Niraula
NIRAULA LAW CHAMBER & CO
...
LTD
...

(CIB)

Edwin Vanderbruggen
VDB LOI MYANMAR
Pakpoom Vetvitayanuwat
LS HORIZON (MYANMAR)
LIMITED
Tepparak Yadtong
LS HORIZON (MYANMAR)
LIMITED

Henk Mayer
MAYER CONSULTING ENGINEERS
Johan Nel
PWC NAMIBIA
Mari-Nelia Nieuwoudt
PWC NAMIBIA
Tim Parkhouse
NAMIBIAN EMPLOYER’S
FEDERATION

Bharat Raj Upreti
PIONEER LAW ASSOCIATES
Deepak K
...
L
...
LTD
...
D
...

Christian Bohlke
MAYER CONSULTING ENGINEERS
Hanno D
...
D
...

Ferdi Brinkman
DEPARTMENT OF
INFRASTRUCTURE, WATER &
WASTE MANAGEMENT
Elysia Brits
BANK WINDHOEK
Lorna Celliers
BDO
Esi Chase
ADVOCATE
André Davids
WOKER FREIGHT SERVICES
Anton de Wit
BANK WINDHOEK
Luziem Diergaardt
TRANSWORLD CARGO PTY
...

Marcha Erni
TRANSUNION
Johann Espag
CLARKE ARCHITECTS
Stefan Hugo
PWC NAMIBIA

Anil Chandra Adhikari
CREDIT INFORMATION BUREAU
LTD
...
LTD
...

BM Dhungana
B&B ASSOCIATES -

CORRESPONDENT FIRM
OF RUSSELL BEDFORD
INTERNATIONAL

Shirshak Ghimire
PRADHAN & ASSOCIATES
Tika Ram Ghimire
MINISTRY OF LAND REFORM AND
MANAGEMENT
Sunil Gupta
GUPTA COUNSEL
Shreedhar Kapali
SHANGRI-LA FREIGHT PVT
...

Jagat Bahadur Khadka
NEPAL SHIPPING & AIR
LOGISTICS PVT
...

Gourish K
...

Aayushi Koirala
PIONEER LAW ASSOCIATES

Chantell Husselmann
PWC NAMIBIA

Amir Maharjan
SAFE CONSULTING ARCHITECTS
& ENGINEERS PVT
...


Stefan Hyman
H
...
BOSSAU & CO
...
LTD
...


Suman Lal Shrestha
H
...
LOGISTIC PVT
...

Nab Raj Subedi
MINISTRY OF LAND REFORM AND
MANAGEMENT
Ram Chandra Subedi
APEX LAW CHAMBER
Krishna Suwal
PRADHAN & ASSOCIATES
Mahesh Kumar Thapa
SINHA VERMA LAW CONCERN

NETHERLANDS
Johan Admiraal
LIANDER
Maarten Appels
VAN DOORNE NV
Ben Arends
KEIZERS ADVOCATEN
Sytso Boonstra
PWC NETHERLANDS
Peter Bouterse
OCEANEXPRESS NETHERLANDS
BV
Roland Brandsma
PWC NETHERLANDS
Mirjam de Blecourt
BAKER & MCKENZIE
AMSTERDAM NV
Margriet de Boer
DE BRAUW BLACKSTONE
WESTBROEK
Taco de Lange
LEXENCE
Jantien Dekkers
HOUTHOFF BURUMA
Henriette Derks
LIANDER
Wilfrank Driesprong
STICHTING BUREAU KREDIET
REGISTRATIE
Boris Emmerig
DLA PIPER NEDERLAND NV
Sebastian Frankenberg
DLA PIPER NEDERLAND NV
Andy Furr
DE BRAUW BLACKSTONE
WESTBROEK
Edik Huseinov
HVK LEGAL BV

ACKNOWLEDGMENTS

Marcel Kettenis
PWC NETHERLANDS
Edwin M
...
J
...
Rebergen
DE BRAUW BLACKSTONE
WESTBROEK
Hugo Reumkens
VAN DOORNE NV
Maayke Rooijendijk
DE BRAUW BLACKSTONE
WESTBROEK
Jan Willem Schenk
HVK LEGAL BV
Jack Schrijver
BAKER & MCKENZIE
AMSTERDAM NV

John Cuthbertson
PWC NEW ZEALAND

Hans Londonck Sluijk
HOUTHOFF BURUMA

Joanne Dickson
SIMPSON GRIERSON, MEMBER OF
LEX MUNDI

Arnout Stroeve
VAN DOORNE NV

Igor Drinkovic
MINTER ELLISON RUDD WATTS

Natusia Szeliga
BAKER & MCKENZIE
AMSTERDAM NV

Bethany Frowein
LOWNDES ASSOCIATES CORPORATE AND COMMERCIAL
LAW SPECIALISTS

Fedor Tanke
BAKER & MCKENZIE
AMSTERDAM NV
Maarten Tinnemans
DE BRAUW BLACKSTONE
WESTBROEK
Agata Uceda
DLA PIPER NEDERLAND NV
Liane van de Vrugt
VÉDÉVÉ LEGAL BV
Leonard Van den Ende
BAKER & MCKENZIE
AMSTERDAM NV
Shanna Van Den Maagdenberg
DLA PIPER NEDERLAND NV
Jos van der Schans
DE BRAUW BLACKSTONE
WESTBROEK
Emilia L
...
van Egmond-de
Wilde de Ligny
FACULTY OF TECHNOLOGY
MANAGEMENT, EINDHOVEN
UNIVERSITY OF TECHNOLOGY
Gert-Jan van Gijs
VAT LOGISTICS (OCEAN FREIGHT)
BV
Sjaak van Leeuwen
STICHTING BUREAU KREDIET
REGISTRATIE
Jan van Oorschot
LIANDER
Petra van Raad
PWC NETHERLANDS
IJsbrand Van Straten
STIBBE

John Powell
RUSSELL MCVEAGH
Jim Roberts
HESKETH HENRY LAWYERS
Silvana Schenone
MINTER ELLISON RUDD WATTS
Maxim Sherstobitov
EASY FREIGHT

NICARAGUA
CARRION CRUZ
CONSTRUCCIONES
Elias Alvarez
PWC NICARAGUA

Andy Glenie
BELL GULLY

Margina Baca
GARCÍA & BODÁN

Joseph Harrop
MINTER ELLISON RUDD WATTS

Maria Alejandra Baldizon
TABOADA & ASOCIADOS

Paul Heaslip
PAUL HEASLIP LAWYER

Alberto Jose
Ballardes-Bendana
GARCÍA & BODÁN

Mandy McDonald
MINISTRY OF BUSINESS,
INNOVATION & EMPLOYMENT
Shaun McMaster
MINTER ELLISON RUDD WATTS
Andrew Minturn
QUALTECH INTERNATIONAL LTD
...

ALVARADO Y ASOCIADOS,
MEMBER OF LEX MUNDI
Minerva Adriana Bellorín
Rodríguez
PACHECO COTO
Camilo Bendana
SALAZAR & BENDANA
Flavio Andrés Berríos Zepeda
MULTICONSULT & CIA LTDA
Carlos Alberto Bonilla López
SUPERINTENDENCIA DE BANCOS
Blanca Buitrago
GARCÍA & BODÁN
Orlando Cardoza
BUFETE JURIDICO OBREGON Y
ASOCIADOS
Thelma Carrion
AGUILAR CASTILLO LOVE

Rodrigo Ibarra Rodney
ARIAS & MUÑOZ

Patricia Rodríguez
MULTICONSULT & CIA LTDA
Paúl Rodríguez
GARCÍA & BODÁN
Carlos Mario Rostan
ROSTRAN Y ASOCIADOS
Gabriel Sánchez G
...

Kassoum Abari
VILLE DE NIAMEY
Sidi Sanoussi Baba Sidi
CABINET D’AVOCATS
SOUNA-COULIBALY
Kaoura Bachir
MAISON DE L’ENTREPRISE NIGER
Bassambie Bationo
BCEAO

Eduardo Lacayo
TRANSUNION

Moussa Coulibaly
CABINET D’AVOCATS
SOUNA-COULIBALY

Brenda Martinez
CONSORTIUM TABOADA Y
ASOCIADOS

Moussa Dantia
CENTRE DES FORMALITES DES
ENTREPRISES

Fabiola Martinez
VENTANILLA UNICA DE
INVERSIONES

Abdou Djando
EMTEF

Jose Ivan Mejia Miranda
GARCÍA & BODÁN
Jorge Molina Lacayo
CETREX
Soraya Montoya Herrera
MOLINA & ASOCIADOS CENTRAL
LAW
Norma Elena Morales Barquero
ARIAS & MUÑOZ
Jeanethe Morales Núñez
SUPERINTENDENCIA DE BANCOS
Tania Muñoz
KPMG
Dania Navarrete
GARCÍA & BODÁN
Amilcar Navarro Amador
GARCÍA & BODÁN
Michael Navas
PRONICARAGUA
Francisco Ortega
FRANCISCO ORTEGA &
ASOCIADOS
Róger Pérez
ARIAS & MUÑOZ
Alonso Porras
PACHECO COTO
Jessica Porras
GARCÍA & BODÁN
Erwin Rodriguez
PWC NICARAGUA
Ricardo Trillos Rodriguez
MULTITRANS

Aïssatou Djibo
ETUDE DE MAÎTRE DJIBO
AÏSSATOU
Halima Gambo
MILLENNIUM CHALLENGE
ACCOUNT
Ibrahim Baoua Gogé
MINISTÈRE DE L’ECONOMIE ET
DES FINANCES
Sani Halilou Alkali
DAMCO NIGER SA - A
...

MOLLER MAERSK GROUP’S
REPRESENTATIVE
Mahaman Tahir Hamani
BCEAO
Souley Hammi Illiassou
CABINET KOUAOVI
Issoufou Harouna
CABINET D’AVOCAT HAROUNA
ISSOUFOU
Ali Idrissa Sounna
TOUTELEC NIGER SA
Abary Insa
CELLULE DE PARTENARIAT
PUBLIC PRIVÉ
Seybou Issifi
VILLE DE NIAMEY
Habibou Kane Kadoure
AGENCE PROJEDIS AFRIQUE
Bernar-Oliver Kouaovi
CABINET KOUAOVI
Issaka Manzo
EGTC

295

296

DOING BUSINESS 2015

Adeline Messou
PWC CÔTE D’IVOIRE

Konyin Ajayi
OLANIWUN AJAYI LP

Emmanuel Egwuagu
OBLA & CO
...


Nnenna Ejekam
NNENNA EJEKAM ASSOCIATES

Mayowa Ajibade
WTS ADEBIYI & ASSOCIATES

Mary Ekemezie
UDO UDOMA & BELO-OSAGIE

Olatoye Akinboro
KPMG

Samuel Etuk
1ST ATTORNEYS

Manuel Akinshola
JACOBS & BIGAELS

Marcellina Eya Abang
NIGERIAN ELECTRICITY
REGULATORY COMMISSION
(NERC)

Venance Père
LCA
Linda Rakotonavalona
CABINET JOHN W
...
, MEMBER OF BOWMAN
GILFILLAN AFRICA GROUP
Naissa Sabiou Mamane
TRIBUNAL DE GRANDE INSTANCE
HORS CLASSE DE NIAMEY

Iwilade Akintayo
KUSAMOTU & KUSAMOTU
Dafe Akpeneye
PWC NIGERIA

Daouda Samna
SCPA MANDELA

Folake Alabi
OLANIWUN AJAYI LP

Moussa Sanogo
BCEAO

Oluwatosin Alabi
PERCHSTONE & GRAEYS

Dominique Taty
PWC CÔTE D’IVOIRE

Belema Alagun
OLANIWUN AJAYI LP

Idrissa Tchernaka
ETUDE D’AVOCATS MARC LE
BIHAN & COLLABORATEURS

Olugboyega Alawode
ALLIANCE LAW FIRM

Fousséni Traoré
PWC CÔTE D’IVOIRE

Ramatou Aliyu
PLANNED SHELTER CONSULT

Emmanuel Yehouessi
BCEAO

Usman Aliyu Mahmud
NIGERIAN COMMUNICATIONS
COMMISSION

NIGERIA

Sola Arifayan
IKEYI & ARIFAYAN

Ijeoma Abalogu
GBENGA BIOBAKU & CO
...
Abdulsalam
GITRAS LTD
...

Olabanji Adenusi
AINA BLANKSON LP
Tolulope Aderemi
PERCHSTONE & GRAEYS
Adekunle Adewale
JACKSON, ETTI & EDU
Albert Adu
ALLIANCE LAW FIRM
Daniel Agbor
UDO UDOMA & BELO-OSAGIE
Michael Ajaegbo
ALLIANCE LAW FIRM
Kunle Ajagbe
PERCHSTONE & GRAEYS
Olaoluwa Ajala
GBENGA BIOBAKU & CO
...
ELIAS & CO
...
FAGBEMI SAN & CO
...

Peter Crabb
NNENNA EJEKAM ASSOCIATES
Aliyu Yusuf Dada
Matthias Dawodu
SPA AJIBADE & CO
...

Anse Agu Ezetah
CHIEF LAW AGU EZETAH & CO
...

Adejoke A
...

Sagir Gezawa
S
...
GEZAWA & CO
...

Adebayo Ologe
PERCHSTONE & GRAEYS
Ajibola Olomola
KPMG
Afolasade Olowe
JACKSON, ETTI & EDU
Abijo Oluwasegun
FMA ARCHITECTS LTD
...
Uche Obi
ALLIANCE LAW FIRM
Blessing Obi Ajunwo
ALLIANCE LAW FIRM
Godwin Obla
OBLA & CO
...
ELIAS & CO
...

Tunde Osasona
WHITESTONE WORLDWIDE LTD
...
O
...

Ignatius Nwosu Owelle
HOMELUX CONSTRUCTION &
EQUIPMENT CO
...


Toluwalogo Odutayo
DELOITTE

Abraham Oyakhilome
FIRST & FIRST INTERNATIONAL
AGENCIES

Oscar Ogbakpan
EMPIREX

Taiwo Oyedele
PWC NIGERIA

Godson Ogheneochuko
UDO UDOMA & BELO-OSAGIE

Feyisola Oyeti
SPA AJIBADE & CO
...


Oyinlola Iwaeni
PWC NIGERIA

Ikenna Okafor
PERCHSTONE & GRAEYS

Isiaku Sani
DIGIBITS CONTROLS NIGERIA
LTD
...


Bukola Iji
SPA AJIBADE & CO
...
O
...

Rajeev Kumar
ETC AGRO CO LTD
Ayodele Kusamotu
KUSAMOTU & KUSAMOTU

ACKNOWLEDGMENTS

Adeola Sunmola
UDO UDOMA & BELO-OSAGIE
Rafiu Sunmonu
DELMORE ENGINEERING AND
CONSTRUCTION COMPANY
LIMITED
Adesegun Talabi
PERCHSTONE & GRAEYS
Garba Ahmed Tijani
AHMED TIJANI & CO
...

Maxwell Ukpebor
WTS ADEBIYI & ASSOCIATES
Ebere Uzum
UDO UDOMA & BELO-OSAGIE

Erlend Haaskjold
ARNTZEN DE BESCHE
ADVOKATFIRMA AS
Sverre Hærem
AF GROUP
Robert Haugen
AF GROUP
Hilde Høksnes
ADVOKATFIRMAET SELMER DA
Heidi Holmelin
ADVOKATFIRMAET SELMER DA
Odd Hylland
PWC NORWAY
Pål Jæger-Pedersen
PWC NORWAY
Andreas Jarbø
ADVOKATFIRMAET SELMER DA
Jøran Kallmyr
ADVOKATFIRMA RÆDER DA

Kamaluddeen Yahaya
KAMALUDDEEN YAHAYA & CO
...
Zakari
AHMED ZAKARI & C

NORWAY
EXPERIAN NORWAY
Guro Bakke Haga
PWC NORWAY
Stig Berge
ADVOKATFIRMAET THOMMESSEN
AS
Ingrid Fladberg Brucker
ADVOKATFIRMA SIMONSEN
VOGT WIIG
Wibecke Brusdal
AF GROUP
Margrethe Buskerud
Christoffersen
ADVOKATFIRMAET THOMMESSEN
AS
Carl Christiansen
RAEDER DA
Per Arne Dæhli
ADVOKATFIRMAET SELMER DA
Tron Dalheim
ARNTZEN DE BESCHE
ADVOKATFIRMA AS
Magnar Danielsen
MINISTRY OF THE ENVIRONMENT
Lars Davidsen
HAFSLUND
Knut Ekern
PWC NORWAY
Lars Eliassen
THE BRONNOYSUND REGISTER
CENTER
Marie Eltervaag
PWC NORWAY
Lars Engen
ADVOKATFIRMA RÆDER DA

Kim Robert Lisø
SKANSKA I NORGE
Carl Longva
GAC NORWAY AS
Per Einar Lunde
PWC NORWAY
Knut Martinsen
ADVOKATFIRMAET THOMMESSEN
AS
Ida Muller-Winters
HOMBLE OLSBY ADVOKATFIRMA
AS
Halfdan Nitter
NITTER AS - CORRESPONDENT
OF RUSSELL BEDFORD
INTERNATIONAL
William Peter Nordan
ADVOKATFIRMA SIMONSEN
VOGT WIIG
Hege Oftedal
PWC NORWAY
Ole Kristian Olsby
HOMBLE OLSBY ADVOKATFIRMA
AS
Pål Egil Rønn
AF GROUP
Peter Simonsen
SIMONSEN ADVOKATFIRMA DA
Ståle Skutle Arneson
ADVOKATFIRMA SIMONSEN
VOGT WIIG
Svein Sulland
ADVOKATFIRMAET SELMER DA
Anders Utne
ADVOKATFIRMA RÆDER DA
Oyvind Vagan
THE BRONNOYSUND REGISTER
CENTER

OMAN
CAPITAL MARKET AUTHORITY
OF OMAN
ERNST & YOUNG

Ragnar Furru
AF GROUP

THE PUBLIC AUTHORITY FOR
INVESTMENT PROMOTION &
EXPORT DEVELOPMENT (PAIPED)

Jon Galtung Dysvik
ADVOKATFIRMAET GALTUNG
DYSVIK MNA

Jehanzeb Afridi
AL BUSAIDY MANSOOR JAMAL
& CO
...


Dhanalakshmi Pillai Perumal
SNR DENTON & CO
...
LTD
...

Paul Sheridan
SNR DENTON & CO
...


Zuhaira Al Sulaimani
CURTIS MALLET - PREVOST,
COLT & MOSLE LLP

Roy Thomas
OMAN CABLES INDUSTRY
(SAOG)

Majid Al Toky
TROWERS & HAMLINS

PAKISTAN

Ibrahim Al-Abri
MUSCAT MUNICIPALITY
Mohsin Ahmed Alawi Al-Hadad
MOHSIN AL-HADAD & AMUR
AL-KIYUMI & PARTNERS
Khalid Khamis Al-Hashmi
MUSCAT MUNICIPALITY
Zaid Al-Khattab
TALAL ABU GHAZALEH LEGAL
(TAG-LEGAL)
Leyan Al-Mawali
TROWERS & HAMLINS
Hilal Almayahi
MUSCAT MUNICIPALITY
Mohamed Alrashdi
MUSCAT MUNICIPALITY
Mohammed Alshahri
MOHAMMED ALSHAHRI &
ASSOCIATES
Zareen Austin
CURTIS MALLET - PREVOST,
COLT & MOSLE LLP
Hasan Juma Backer
HASAN JUMA BACKER TRADING
& CONTRACTING
Jamie Gibson
TROWERS & HAMLINS
Justine Harding
SNR DENTON & CO
...
A
...
E
...
, ADVOCATES
Taqi Ahmad
A
...
FERGUSON & CO
...

Jawad Ahmed
MUHAMMAD FAROOQ & CO
...

CHARTERED ACCOUNTANTS
Asim Hameed Khan
BROTHERS TRADING
CORPORATION PAKISTAN PVT
...

Asma Hameed Khan
SURRIDGE & BEECHENO
Ikramul Haq
HUZAIMA & IKRAM
Salim Hasan
MEER & HASAN
Syed Ahmad Hassan Shah
HASSAN KAUNAIN NAFEES
Rashid Ibrahim
A
...
FERGUSON & CO
...


Tariq Nasim Jan
DATACHECK PVT
...


Ashraf Ali
ABRAHAM & SARWANA

Assad Ullah Jaral
AUJ LAWYERS

Syed Asif Ali
PYRAMID PAKISTAN

Haina Karim
BUBBLEWRAPP INC
...

Armughan Ashfaq
SURRIDGE & BEECHENO
Zeeshan Ashraf Meer
MEER & HASAN
Zarina Aslam
ABRAHAM & SARWANA
Shaheryar Aziz
A
...
FERGUSON & CO
...


Shariq Aziz
ONLINE SHIPPING & LOGISTICS

Githa Nair
CURTIS MALLET - PREVOST,
COLT & MOSLE LLP

Muhammad Bilal
NEWS-VIS CREDIT INFORMATION
SERVICES PVT
...


Ahmed Naveed Farooqui
OMAN CABLES INDUSTRY
(SAOG)

Amjad Bokhari

Bruce Palmer
CURTIS MALLET - PREVOST,
COLT & MOSLE LLP

Mahwish Elahi
ABRAHAM & SARWANA

Faisal Daudpota
KHALID DAUDPOTA & CO
...


Mohsin Malik
BUILDERS ASSOCIATES PVT
...

Rashid Rahman Mir
RAHMAN SARFARAZ RAHIM
IQBAL RAFIQ - MEMBER
OF RUSSELL BEDFORD
INTERNATIONAL
Moazzam Mughal
BOXING WINNER
Rana Muhammad
RANA IJAZ & PARTNERS
Faiza Muzaffar
LEGIS INN ATTORNEYS &
CORPORATE CONSULTANTS
Saqib Naveed
ANAYA SALT CRAFTS
Jamal Panhwar
TRAVEL AND CULTURE SERVICES
Rizwan Pir Muhammad
MAERSK LINE
Fayez Qamar Rasheed
CKR & ZIA

297

298

DOING BUSINESS 2015

Manzar Naeem Qureshi
HAGLER BAILLEY PAKISTAN
PVT
...


Suzanne Finney
PALAU HISTORIC PRESERVATION
OFFICE

Juan Carlos Croston
MANZANILLO INTERNATIONAL
TERMINAL OPERATOR [MIT]

Zaki Rahman
EBRAHIM HOSAIN, ADVOCATES
AND CORPORATE COUNSEL

Anthony Frazier

Eduardo De Alba
ARIAS, FÁBREGA & FÁBREGA

Ameeruddin Rana
ABRAHAM & SARWANA

Ramsey Ngiraibai
KOROR PLANNING AND ZONING
OFFICE

Robeen Rana
MEDICAL TOWERS

Lily Rdechor
PALAU ENVIRONMENTAL
QUALITY PROTECTION BOARD

Abdur Rehman
PAKISTAN REVENUE
DEPARTMENT

Gershwin Rengiil
KOROR PLANNING AND ZONING
OFFICE

Khalid Rehman
SURRIDGE & BEECHENO
- KARACHI

William L
...
RIDPATH,
ATTORNEY-AT-LAW

Rana Sajjad
RANA IJAZ & PARTNERS

V
...
Sarwana
ABRAHAM & SARWANA
Safdar Sayed
ABRAHAM & SARWANA
Mohammad Ali Seena
SURRIDGE & BEECHENO KARACHI
Mohammad Shafique
ONLINE SHIPPING & LOGISTICS
Naeem Shah
MEER & HASAN
Muhammad Siddique
SECURITIES AND EXCHANGE
COMMISSION OF PAKISTAN
Mian Hamdoon Subhani
M
...
S
...
) LTD
...

Javed Ahmed Vohra
FAIR BROTHERS INTERNATIONAL
Ilyas Zafar
ZAFAR & ASSOCIATES LLP
Muneeb Zafar
ZAFAR & ASSOCIATES LLP
Murtaza Zahoor
CKR & ZIA
Vaqar Zakaria
HAGLER BAILLEY PAKISTAN
PVT
...


PALAU
PALAU PUBLIC UTILITY
CORPORATION
Lisa Abraham
SMALL BUSINESS DEVELOPMENT
CENTER (SBDC)
Maggy Antonio
KOROR PLANNING AND ZONING
OFFICE
Kenneth Barden
ATTORNEY-AT-LAW
Ricardo Bausoch
BUREAU OF REVENUE, CUSTOMS
AND TAXATION
Maria Cristina Castro
WESTERN CAROLINE TRADING
CO
...
Dengokl
DENGOKL, DIMITRUK &
NAKAMURA, ATTORNEYS AT
LAW
Rachel Dimitruk
DIMITRUK LAW OFFICE

Peter C
...


PANAMA
Hernando Abraham
Carrasquilla
REGISTRO PÚBLICO DE PANAMÁ
Alvaro Aguilar
LOMBARDI AGUILAR GROUP
Gabriel Aguilar
LOMBARDI AGUILAR GROUP
Ascanio Alberola
MINISTRY OF ECONOMY AND
FINANCES
Aristides Anguizola
MORGAN & MORGAN
Mercedes Araúz de Grimaldo
MORGAN & MORGAN
Luis Arrocha
LOMBARDI AGUILAR GROUP
Khatiya Asvat
PATTON, MORENO & ASVAT
Ana Ayarza
PANALPINA WORLD TRANSPORT
LLP

Claudio De Castro
ARIAS, FÁBREGA & FÁBREGA
Jorge G
...

Sarah Kuman
ALLENS ARTHUR ROBINSON
Peter Lowing
LEAHY LEWIN NUTLEY SULLIVAN
LAWYERS
Bruce Mackinlay
CREDIT & DATA BUREAU LIMITED
Nigel Merrick
WARNER SHAND LAWYERS LAE
Vaughan Mills
ALLENS ARTHUR ROBINSON
Antonia Nohou
PWC PAPUA NEW GUINEA
Lou Pipi
NCDC MUNICIPALITY

Juan Bautista Fiorio Gimenez
FIORIO, CARDOZO & ALVARADO
Edgardo Fleitas
ABC CONSULTORES
Néstor Gamarra
SERVIMEX SACI
Jorge Guillermo Gomez
PWC PARAGUAY
Santiago Gomez
FERRERE ABOGADOS
Roberto Wilfrido Escobar
González
NOTARIA DE ROBERTO W
...
- PSLI

Anthony Frazier

Ivan Pomaleu
IPA

Verónica Sinisterra
AROSEMENA NORIEGA &
CONTRERAS

Jose Ignacio Bravo
COCOLPAN

Richard Flynn
ASHURST LLP

Giselle Deiró
BERKEMEYER, ATTORNEYS &
COUNSELORS

Nelson E
...
Barrios G
...
Berkemeyer
BERKEMEYER, ATTORNEYS &
COUNSELORS

Simon Bendo
DEPARTMENT OF LANDS AND
PHYSICAL PLANNING

Luis Alberto Breuer
BERKEMEYER, ATTORNEYS &
COUNSELORS

Vincent Bull
ALLENS ARTHUR ROBINSON

Esteban Burt
PERONI, SOSA, TELLECHEA,
BURT & NARVAJA, MEMBER OF
LEX MUNDI

David Caradus
PWC PAPUA NEW GUINEA
Dickson
NCDC MUNICIPALITY

Natalia Oddone
BERKEMEYER, ATTORNEYS &
COUNSELORS
Rocío Penayo
MORENO RUFFINELLI &
ASOCIADOS
Yolanda Pereira
BERKEMEYER, ATTORNEYS &
COUNSELORS
Raúl H
...

ESCOBAR

Jose Antonio Honda
ESTUDIO OLAECHEA, MEMBER OF
LEX MUNDI

Martin Serkovic
ESTUDIO OLAECHEA, MEMBER OF
LEX MUNDI

Lia Zanotti-Cavazonni
PERONI, SOSA, TELLECHEA,
BURT & NARVAJA, MEMBER OF
LEX MUNDI

Diego Huertas del Pino
BARRIOS & FUENTES ABOGADOS

PERU
PLFA & CIA ABOGADOS,
ASESORES Y CONSULTORES

Juan Carlos Leon
ADEX

SUPERINTENDENCY OF BANKING,
INSURANCE AND PRIVATE
PENSION FUND ADMINISTRATOR

César Ballón Izquierdo
RANSA COMERCIAL SA

Milagros Maravi Sumar
RUBIO LEGUÍA NORMAND
Carlos Martínez
RUBIO LEGUÍA NORMAND

Guillermo Acuña Roeder
RUBIO LEGUÍA NORMAND

Ricardo Martinez Alvarez
EXPERIAN PERÚ SAC

Fanny Aguirre
ESTUDIO ALVAREZ CALDERON

Carlos Martínez Ebell
RUBIO LEGUÍA NORMAND

Walter Aguirre
AGUIRRE ASESORES &
ABOGADOS

Jesús Matos
ESTUDIO OLAECHEA, MEMBER OF
LEX MUNDI

Marco Antonio Alarcón Piana
ESTUDIO LUIS ECHECOPAR
GARCÍA SRL

Alejandro Medina
SUPERINTENDENCY OF BANKING,
INSURANCE AND PRIVATE
PENSION FUND ADMINISTRATOR

Alfonso Alvarez Calderón
ESTUDIO ALVAREZ CALDERON
Luis Alza
RUSSELL BEDFORD PERÚ /
BARZOLA & ASOCIADOS SC MEMBER OF RUSSELL BEDFORD
INTERNATIONAL
Guilhermo Auler
FORSYTH ABOGADOS
Macarena Barrios
BARRIOS & FUENTES ABOGADOS
Maritza Barzola
RUSSELL BEDFORD PERÚ /
BARZOLA & ASOCIADOS SC MEMBER OF RUSSELL BEDFORD
INTERNATIONAL
Stephany Giovanna Bravo de
Rueda Arce
RANSA COMERCIAL SA

Cecilia Mercado
GAMMA CARGO SAC
Alessandro Mussio
ESTUDIO FERRERO ABOGADOS
Ariel Orrego-Villacorta
BARRIOS & FUENTES ABOGADOS
Max Panay Cuya
SUNARP
Verónica Perea
BARRIOS & FUENTES ABOGADOS
Lucianna Polar
ESTUDIO OLAECHEA, MEMBER OF
LEX MUNDI
Maribel Príncipe
RUBIO LEGUÍA NORMAND
Bruno Marchese Quintana
RUBIO LEGUÍA NORMAND

Jorge Calle
RUBIO LEGUÍA NORMAND

Fernando M
...
Reyes
BARRIOS & FUENTES ABOGADOS

Norka Chirinos La Torre
SUNARP
Ricardo de la Piedra
ESTUDIO OLAECHEA, MEMBER OF
LEX MUNDI

Rossana Rodriguez
GARCÍA SAYÁN ABOGADOS
Alonso Rojas
ESTUDIO OLAECHEA, MEMBER OF
LEX MUNDI

Hugo Silva
RODRIGO, ELÍAS, MEDRANO
ABOGADOS
Ricardo P
...
Chua
QUISUMBING TORRES, MEMBER
FIRM OF BAKER & MCKENZIE
INTERNATIONAL

Tadeo F
...
Javier
JAVIER LAW

Arnaldo L
...
de Guzman
ANGARA ABELLO CONCEPCION
REGALA & CRUZ LAW OFFICES
(ACCRALAW)

Mariella Vilela Guevara
SUNARP

Emilio S
...

REPUBLIC OF THE PHILIPPINES
SOCIAL SECURITY SYSTEM

Manuel Villa-García
ESTUDIO OLAECHEA, MEMBER OF
LEX MUNDI

Anthony Dee
SYCIP SALAZAR HERNANDEZ &
GATMAITAN

Rafael Villaran
ESTUDIO LUIS ECHECOPAR
GARCÍA SRL

Kennedy Diokno
LOCAL GOVERNMENT OF
QUEZON CITY

Agustín Yrigoyen
GARCÍA SAYÁN ABOGADOS

Redel Domingo
MERALCO

Laura Zuñiga
PAYET, REY, CAUVI ABOGADOS

Teddy Esteban F
...

MAYNILAD WATER SERVICES,
INC
...

Vera Marie Bautista
SYCIP SALAZAR HERNANDEZ &
GATMAITAN
Jose A
...
Castillo
PUYAT JACINTO SANTOS LAW
OFFICE

Rachel Follosco
FOLLOSCO MORALLOS & HERCE
Florida Fomaneg
ISLA LIPANA & CO
...
Garchitorena
CREDIT INFORMATION
CORPORATION
Geraldine S
...
Garcia-Morera
ANGARA ABELLO CONCEPCION
REGALA & CRUZ LAW OFFICES
(ACCRALAW)
Andres Gatmaitan
SYCIP SALAZAR HERNANDEZ &
GATMAITAN
Jose Amado Genilo III
GENILO & PARTNERS LAW
OFFICES
Victor Genuino
MERALCO
Vicente Gerochi
SYCIP SALAZAR HERNANDEZ &
GATMAITAN
Arvin Philip Gotladera
LOCAL GOVERNMENT OF
QUEZON CITY
Mary Grace Morales-Joboco
PUNONGBAYAN & ARAULLO

Benito Jose L
...
B
...
Lim
ANGARA ABELLO CONCEPCION
REGALA & CRUZ LAW OFFICES
(ACCRALAW)
Timothy Lim
ROMULO, MABANTA,
BUENAVENTURA, SAYOC & DE
LOS ANGELES, MEMBER OF LEX
MUNDI
Ronald Mark Lleno
SYCIP SALAZAR HERNANDEZ &
GATMAITAN
Roberto Locsin
INTERNATIONAL CONTAINER
TERMINAL SERVICES, INC
...
Bautista
LOCAL GOVERNMENT OF
QUEZON CITY
Araceli Macabalo
SECURITY BANK SAVINGS
Myra Mallari
SEC
Joel A
...
Morallos
FOLLOSCO MORALLOS & HERCE
Freddie Naagas
SCM CREATIVE CONCEPTS INC
...
Pineda
LOCAL GOVERNMENT OF
QUEZON CITY

299

300

DOING BUSINESS 2015

Maybellyn Pinpin
ISLA LIPANA & CO
...


Peter Young
INTERNATIONAL CONTAINER
TERMINAL SERVICES, INC
...


Senen Quizon
PUNONGBAYAN & ARAULLO

Oliver S
...


Redentor C
...

Reyes-Rodolfo
ANGARA ABELLO CONCEPCION
REGALA & CRUZ LAW OFFICES
(ACCRALAW)
Ruben Gerald Ricasata
PUYAT JACINTO SANTOS LAW
OFFICE
Ricardo J
...
Serrano
FOLLOSCO MORALLOS & HERCE
Abigail D
...
Sicat
THE PHILIPPINE STOCK
EXCHANGE, INC
...

BANGKO SENTRAL NG PILIPINAS
Steffen Treiber
PANALPINA WORLD TRANSPORT
LLP
Roland Glenn T
...
Viray
PUYAT JACINTO SANTOS LAW
OFFICE

Amelia Górniak
CRIDO TAXAND

Adrian Praczuk
MINISTRY OF FINANCE

Jaromir Grabowski
WOJEWÒDZKI INSPEKTORAT
NADZORU BUDOWLANEGO W
WARSZAWIE

Andrzej Puncewicz
CRIDO TAXAND

Piotr Graczyk
RACZKOWSKI I WSPÓLNICY SP
...

Dominik Gruca
WINDMILL GĄSIEWSKI & ROMAN
LAW OFFICE
Andrzej Grześkiewicz
GRIDNET
Monika Hartung
WARDYŃSKI & PARTNERS
Mariusz Hildebrand
BIG INFOMONITOR SA
Łukasz Iwański
ERGONOMIX
Justyna Jamroży
CHADBOURNE & PARKE LLP
Marcin Kamola
DEEPWATER CONTAINER
TERMINAL GDAŃSK
Mariusz Każuch
MINISTRY OF FINANCE
Katarzyna Kopyłowska
DLA PIPER WIATER SP
...

Olga Koszewska
CHADBOURNE & PARKE LLP
Ewa Łachowska - Brol
WIERZBOWSKI EVERSHEDS,
MEMBER OF EVERSHEDS
INTERNATIONAL LTD
...
SP
...
O
...


Krzysztof Ciepliński
GIDE LOYRETTE NOUEL POLAND
WARSAW
Tomasz Czech
RAIFFEISEN BANK POLSKA SA
Michał Dąbrowski
MINISTRY OF JUSTICE
Tomasz Dąbrowski
MINISTRY OF ECONOMY
Andrzej Dmowski
RUSSELL BEDFORD DZO SP
...
O
...
K
...

Agnieszka Marzec
BIURO INFORMACJI
KREDYTOWEJ SA
Pawel Meuse
GIDE LOYRETTE NOUEL POLAND
WARSAW
Tomasz Michalak
MINISTRY OF FINANCE
Tomasz Michalik
MDDP MICHALIK DŁUSKA
DZIEDZIC I PARTNERZY
Michal Niemirowicz-Szczytt
BNT NEUPERT ZAMORSKA &
PARTNERZY SP
...

Joanna Nowakowska-Drapała
NOTARIAT POLSKI
Filip Opoka
DLA PIPER WIATER SP
...

Łukasz Piebiak
MINISTRY OF JUSTICE

Jan Furtas
CRIDO TAXAND

Tomasz Pietrzak
HOGAN LOVELLS (WARSZAWA)
LLP

Jan Gawąd
AGS GAWĄD

Michał Pietuszko
DLA PIPER WIATER SP
...


Rafał Godlewski
WARDYŃSKI & PARTNERS

Kamilla Piotrowska-Król
TERRAMAR LTD
...
K
...
K
...
K
...
J
...
K
...
J
...

Z O
...
- MEMBER OF RUSSELL
BEDFORD INTERNATIONAL
Adam Żołnowski
DEEPWATER CONTAINER
TERMINAL GDAŃSK
Sylwester Żydowicz
TAYLOR WESSING, E|N|V|C

PORTUGAL
CREDINFORMAÇÕES - EQUIFAX

Victor Abrantes
Maria Isabel Abreu
POLYTECHNIC INSTITUTE OF
BRAGANÇA
Luis Filipe Aguiar
BANCO DE PORTUGAL
Anabela Aguilar Salvado
PEDRO RAPOSO & ASSOCIADOS
Bruno Andrade Alves
PWC PORTUGAL
Natália Garcia Alves
ABREU ADVOGADOS
Nuno Alves Mansilha
MIRANDA CORREIA AMENDOEIRA
& ASSOCIADOS - SOCIEDADE DE
ADVOGADOS RL
Joana Andrade Correia
RAPOSO BERNARDO &
ASSOCIADOS
Filipa Arantes Pedroso
MORAIS LEITÃO, GALVÃO
TELES, SOARES DA SILVA &
ASSOCIADOS, MEMBER OF LEX
MUNDI
João Banza
PWC PORTUGAL
Mark Bekker
BEKKER LOGISTICA
João Cadete de Matos
BANCO DE PORTUGAL
Vitor Campos
NATIONAL LABORATORY FOR
CIVI ENGINEERING - LNEC
Rui Capote
PLEN - SOCIEDADE DE
ADVOGADOS, RL
Fernando Cardoso da Cunha
GALI MACEDO & ASSOCIADOS
Tiago Castanheira Marques
ABREU ADVOGADOS
Susana Cebola
INSTITUTO DOS REGISTOS E DO
NOTARIADO
Joaquim Correia Teixeira
EDP DISTRIBUIÇÃO - ENERGIA,
SA
Cristina Dein
DEIN ADVOGADOS
João Duarte de Sousa
GARRIGUES PORTUGAL SLP SUCURSAL
Jaime Esteves
PWC PORTUGAL
Sofia Ferreira Enriquez
RAPOSO BERNARDO &
ASSOCIADOS
Ana Filipa Ribeiro
PWC PORTUGAL
Tereza Garcia André
MIRANDA CORREIA AMENDOEIRA
& ASSOCIADOS - SOCIEDADE DE
ADVOGADOS RL
Rui Gloria
TOCHA, CHAVES & ASSOCIADOS,
SROC - MEMBER OF RUSSELL
BEDFORD INTERNATIONAL
Inês Godinho
GÓMEZ-ACEBO & POMBO
ABOGADOS, SLP SUCURSAL EM
PORTUGAL
Nuno Pimentel Gomes
PLMJ – SOCIEDADE DE
ADVOGADOS, RL

ACKNOWLEDGMENTS

Nuno Gundar da Cruz
MORAIS LEITÃO, GALVÃO
TELES, SOARES DA SILVA &
ASSOCIADOS, MEMBER OF LEX
MUNDI
Paulo Henriques
P
...
GOMES &
ASSOCIADOS
Ricardo Veloso
GPA - GOUVEIA PEREIRA,
COSTA FREITAS & ASSOCIADOS,
SOCIEDADE DE ADVOGADOS RL

PUERTO RICO (U
...
)
TRANSUNION DE PUERTO RICO
Viviana Aguilu
PWC PUERTO RICO
Alfredo Alvarez-Ibañez
O’NEILL & BORGES
Salvador Antonetti
O’NEILL & BORGES
Juan Aquino
O’NEILL & BORGES
Antonio A
...

MCCONNELL VALDÉS LLC
Odemaris Chacon
WILLIAM ESTRELLA | ATTORNEYS
& COUNSELORS
Walter F
...

Ubaldo Fernandez
O’NEILL & BORGES
Julio A
...
Meléndez-Sauri
MALLEY TAMARGO &
MELÉNDEZ-SAURI, LLC

Christian Sobrino
PIETRANTONI MÉNDEZ &
ALVAREZ LLP

Mohamed Riaz
SULTAN AL-ABDULLA &
PARTNERS

Eduardo Tamargo
MALLEY TAMARGO &
MELÉNDEZ-SAURI, LLC

Marie-Anne Roberty-Jabbour
LALIVE LLC

Joseph Vergara
O’NEILL & BORGES
Raúl Vidal y Sepúlveda
OMNIA ECONOMIC SOLUTIONS
LLC
Travis Wheatley
O’NEILL & BORGES
Nayuan Zouairabani
O’NEILL & BORGES

QATAR
ALLEN & OVERY
BADRI AND SALIM EL MEOUCHI
LAW FIRM, MEMBER OF
INTERLEGES
MAERSK QATAR MARITIME
SERVICES
Hani Al Naddaf
AL TAMIMI & COMPANY
ADVOCATES & LEGAL
CONSULTANTS
Rashed Albuflasa
NOBLE GLOBAL LOGISTICS
Ahmed Bin Khalid Al-Thani
QATAR CREDIT BUREAU
Maryam Bint Khalifa Al-Thani
QATAR CREDIT BUREAU
Dina Al-Wahabit
AL TAMIMI & COMPANY
ADVOCATES & LEGAL
CONSULTANTS
Jason Arnedo
NOBLE GLOBAL LOGISTICS

Antonio Molina
PIETRANTONI MÉNDEZ &
ALVAREZ LLP

Karim El Gebaily
TALAL ABU GHAZALEH LEGAL
(TAG-LEGAL)

Luis Mongil-Casasnovas
MARTINEZ ODELL & CALABRIA

Fouad El Haddad
LALIVE LLC

Jose Morales
JAM CARGO SALES INC
...
Jarvis Johnson
PATTON BOGGS LLP
Upuli Kasthuriarachchi
PWC QATAR
Pradeep Kumar
DIAMOND SHIPPING SERVICES

Victor Rodriguez
PWC PUERTO RICO

Frank Lucente
AL TAMIMI & COMPANY
ADVOCATES & LEGAL
CONSULTANTS

Edgardo Rosa-Ortiz
FPV & GALÍNDEZ CPAS, PSC MEMBER OF RUSSELL BEDFORD
INTERNATIONAL

Zain Al Abdin Sharar
QATAR FINANCIAL MARKETS
AUTHORITY (QFMA)

Conan Higgins
TSI LEGAL ENTERPRISES, PC

Victor Rodriguez
MULTITRANSPORT & MARINE CO
...
Ruiz Montilla
MCCONNELL VALDÉS LLC

Neil O’Brien
PWC QATAR

Patricia Salichs-Rosselló
MCCONNELL VALDÉS LLC

Michael Palmer
PATTON BOGGS LLP

Jaime Santos
PIETRANTONI MÉNDEZ &
ALVAREZ LLP

Sony Pereira
NATIONAL SHIPPING AND
MARINE SERVICES COMPANY
WLL

Ioan Chiper
STOICA & ASOCIAŢII SOCIETATE CIVILĂ DE AVOCAŢI
Alin Chitu
ŢUCA ZBÂRCEA & ASOCIAŢII
Crina Ciobanu
MUŞAT & ASOCIAŢII
Mariana Ciocoiu
MARAVELA & ASOCIAŢII
Veronica Cocârlea
MARAVELA & ASOCIAŢII
Valentin Cocean
DRAKOPOULOS LAW FIRM
Raluca Coman
CLIFFORD CHANCE BADEA SCA
Anamaria Corbescu
SALANS FMC SNR DENTON
EUROPE – TODOR SI ASOCIATII
SCA
Oana Cornescu
ŢUCA ZBÂRCEA & ASOCIAŢII
Alexandru Cretu
ZAMFIRESCU RACOŢI &
PARTNERS ATTORNEYS-AT-LAW

301

302

DOING BUSINESS 2015

Sergius Creţu
ŢUCA ZBÂRCEA & ASOCIAŢII
Tiberiu Csaki
SALANS FMC SNR DENTON
EUROPE – TODOR SI ASOCIATII
SCA
Radu Damaschin
NESTOR NESTOR DICULESCU
KINGSTON PETERSEN
Anca Danilescu
ZAMFIRESCU RACOŢI &
PARTNERS ATTORNEYS-AT-LAW
Dan Dascalu
D&B DAVID ŞI BAIAS LAW FIRM
Adrian Deaconu
TAXHOUSE SRL
Oana Diaconu
MARAVELA & ASOCIAŢII
Luminita Dima
NESTOR NESTOR DICULESCU
KINGSTON PETERSEN
Diana Dimitriu
RADU TĂRĂCILĂ PĂDURARI
RETEVOESCU SPRL IN
ASSOCIATION WITH ALLEN &
OVERY
Livia Dinu
ŢUCA ZBÂRCEA & ASOCIAŢII
Madalina Dobre
D&B DAVID ŞI BAIAS LAW FIRM
Rodica Dobre
PWC ROMANIA
Monia Dobrescu
MUŞAT & ASOCIAŢII
Ion Dragulin
NATIONAL BANK OF ROMANIA
Panagiotis Drakopoulos
DRAKOPOULOS LAW FIRM
Laura Adina Duca
NESTOR NESTOR DICULESCU
KINGSTON PETERSEN
Alina Dumitrascu
CABINET CONSULTANTA
ECONOMICA MERCESCU
Geanina Dumitru
ENEL (FORMER ELECTRICA
MUNTENIA SUD)
Lidia Dutu
DLA PIPER DINU SCA
Oana Dutu-Buzura
DLA PIPER DINU SCA
Serban Epure
BIROUL DE CREDIT
Georgiana Evi
CLIFFORD CHANCE BADEA SCA
Sonia Fedorovici
MARAVELA & ASOCIAŢII
Iulia Ferăstrău-Grigore
MARAVELA & ASOCIAȚII
Adriana Gaspar
NESTOR NESTOR DICULESCU
KINGSTON PETERSEN
Monica Georgiadis
DLA PIPER DINU SCA
Laurentiu Gorun
DRAKOPOULOS LAW FIRM
Daniela Gramaticescu
NESTOR NESTOR DICULESCU
KINGSTON PETERSEN
Adina Grosu
SALANS FMC SNR DENTON
EUROPE – TODOR SI ASOCIATII
SCA

Argentina Hincu
SALANS FMC SNR DENTON
EUROPE – TODOR SI ASOCIATII
SCA
Ana-Maria Hrituc
SULICA PROTOPOPESCU VONICA
Camelia Iantuc
CLIFFORD CHANCE BADEA SCA
Alexandra Ichim
MARAVELA & ASOCIAȚII
Ilinca Iliescu
RADU TĂRĂCILĂ PĂDURARI
RETEVOESCU SPRL IN
ASSOCIATION WITH ALLEN &
OVERY
Diana Emanuela Ispas
NESTOR NESTOR DICULESCU
KINGSTON PETERSEN
Horia Ispas
ŢUCA ZBÂRCEA & ASOCIAŢII
Madalina Ivan
ZAMFIRESCU RACOŢI &
PARTNERS ATTORNEYS-AT-LAW

Manuela Marina Nestor
NESTOR NESTOR DICULESCU
KINGSTON PETERSEN

Ionut Stancu
NESTOR NESTOR DICULESCU
KINGSTON PETERSEN

Alexandru Oană
MARAVELA & ASOCIAŢII

Sorin Corneliu Stratula
STRATULA MOCANU & ASOCIATII

Andrei Ormenean
MUŞAT & ASOCIAŢII

Cătălina Sucaciu
MARAVELA & ASOCIAŢII

Maria Bykovskaya
GIDE LOYRETTE NOUEL, MEMBER
OF LEX MUNDI

Delia Paceagiu
NESTOR NESTOR DICULESCU
KINGSTON PETERSEN

Miruna Suciu
MUŞAT & ASOCIAŢII

Dmitry Churin
CAPITAL LEGAL SERVICES LLC

Ruxandra Talpan
DRAKOPOULOS LAW FIRM

David Cranfield
CMS LEGAL

Ruxandra Tarlescu
PWC ROMANIA

Marina Dmitrieva
DLA PIPER RUS LIMITED

Amelia Teis
D&B DAVID ŞI BAIAS LAW FIRM

Olga Duchenko
KACHKIN & PARTNERS

Florin Tineghe
DLA PIPER DINU SCA

Vasina Ekaterina
ALRUD LAW FIRM

Laura Tiuca
SALANS FMC SNR DENTON
EUROPE – TODOR SI ASOCIATII
SCA

Gleb Fayzullaev
PWC RUSSIA

Ariana Elena Pantea
JINGA & ASOCIAŢII
Mircea Parvu
SCPA PARVU SI ASOCIATII
Marius Pătrăşcanu
MARAVELA & ASOCIAŢII
Laurentiu Petre
SĂVESCU & ASOCIAŢII
Alina Pintica
ŢUCA ZBÂRCEA & ASOCIAŢII
Ana Maria Placintescu
MUŞAT & ASOCIAŢII

Mihai Jelea
EVERSHEDS LINA & GUIA SCA

Carolina Pletniuc
LINA & GUIA SCA

Andreea Roxana Lepadatu
SALANS FMC SNR DENTON
EUROPE – TODOR SI ASOCIATII
SCA

Claudiu Pop
POP PEPA SCA
ATTORNEYS-AT-LAW

Cristian Lina
EVERSHEDS LINA & GUIA SCA
Edita Lovin
RETIRED JUDGE OF ROMANIAN
SUPREME COURT OF JUSTICE
Bogdan Lucan
DRAKOPOULOS LAW FIRM
Smaranda Mandrescu
POP PEPA SCA
ATTORNEYS-AT-LAW
Dumitru Viorel Manescu
NATIONAL UNION OF CIVIL LAW
NOTARIES OF ROMANIA
Gelu Titus Maravela
MARAVELA & ASOCIAŢII
Carmen Medar
D&B DAVID ŞI BAIAS LAW FIRM
Vlad Meraru
PWC ROMANIA
Mariana Mercescu
CABINET CONSULTANTA
ECONOMICA MERCESCU
Mirela Metea
MARAVELA & ASOCIAŢII
Maria Cristina Metelet
POP PEPA SCA
ATTORNEYS-AT-LAW
Cătălina Mihăilescu
ŢUCA ZBÂRCEA & ASOCIAŢII
Florian Mihalce
SC ELECTRICA SA
Ana Mirea
CLIFFORD CHANCE BADEA SCA
Mihaela Mitroi
PWC ROMANIA
Geanina Moraru
CLIFFORD CHANCE BADEA SCA
Mona Musat
MUŞAT & ASOCIAŢII
Carmen Năstase
ŢUCA ZBÂRCEA & ASOCIAŢII
Adriana Neagoe
NATIONAL BANK OF ROMANIA
Larisa Negoias
DLA PIPER DINU SCA

Florina Toma
DLA PIPER DINU SCA
Andra Trantea
DLA PIPER DINU SCA
Ada Ţucă
MARAVELA & ASOCIAŢII

Alina Elena Popescu
MARAVELA & ASOCIAŢII

Anca Maria Ulea
MUŞAT & ASOCIAŢII

Iulian Popescu
MUŞAT & ASOCIAŢII

Tatiana Urimescu
NATIONAL UNION OF CIVIL LAW
NOTARIES OF ROMANIA

Mariana Popescu
NATIONAL BANK OF ROMANIA
Tiberiu Potyesz
BITRANS LTD
...
Andriash
NORTON ROSE FULBRIGHT
(CENTRAL EUROPE) LLP
Aleksandr Androsov
MOSENERGOSBYT
Elena Anisimova
CAPITAL LEGAL SERVICES LLC
Irina Anyukhina
ALRUD LAW FIRM
Stefan Bakh
PUBLISHING HOUSE CUSTOMS
TERMINALS
Konstantin Baranov
CMS LEGAL
Maria Baranovskaya
HERBERT SMITH FREEHILLS
CIS LLP
Andrey Belykh
BANK SAINT PETERSBURG
Egor Bogdanov
GIDE LOYRETTE NOUEL, MEMBER
OF LEX MUNDI
Julia Borozdna
PEPELIAEV GROUP
Thomas Brand
BRAND & PARTNER

Ilya Bulgakov
DLA PIPER RUS LIMITED
Ekaterina Buzina
RUSSIN & VECCHI

Liliya Gaynullina
LEVINE BRIDGE
Roman Goldberg
Vladimir Gorbunov
TSDS GROUP OF COMPANIES
Lidia Gorshkova
PEPELIAEV GROUP
Robert Gurdyumov
HELLEVIG, KLEIN & USOV
Andrey Ignatenko
MORGAN LEWIS
Ekaterina Ilina
DS LAW
Armen Isaakyan
TRANSAS
Roman Ishbulatov
CAPITAL LEGAL SERVICES LLC
Roman Ishmukhametov
BAKER & MCKENZIE
Maria Ivakina
ALRUD LAW FIRM
Ivan Ivanov
FINEC
Maxim Kalinin
BAKER & MCKENZIE
Diana Kalyaeva
PRICEWATERHOUSECOOPERS
RUSSIA BV
Alexey Karchiomov
EGOROV PUGINSKY AFANASIEV &
PARTNERS
Mitrofan Karpekin
BANK SAINT PETERSBURG
Pavel Karpunin
CAPITAL LEGAL SERVICES LLC
Ekaterina Karunets
BAKER & MCKENZIE - CIS,
LIMITED
Pavel Karusev
PEPELIAEV GROUP
Denis Kazantsev
MOSENERGOSBYT
Evgeny Khazanov
ROLLSTANDARD
Alexander Khretinin
HERBERT SMITH FREEHILLS
CIS LLP
Snezhana Kitaeva
LENENERGO
Alexander Klochkov
DLA PIPER RUS LIMITED
Elena Klyuchareva
DEBEVOISE & PLIMPTON LLP
Olga Klyzhenko
WHITE & CASE

ACKNOWLEDGMENTS

Vadim Kolomnikov
DEBEVOISE & PLIMPTON LLP
Anastasia Konovalova
NORTON ROSE FULBRIGHT
(CENTRAL EUROPE) LLP
Alexander Korkin
PEPELIAEV GROUP
Sergey Korolyov
EGOROV PUGINSKY AFANASIEV &
PARTNERS

Gennady Odarich
PRICEWATERHOUSECOOPERS
RUSSIA BV
Elena Ogawa
LEVINE BRIDGE
Reena Ohri
GIDE LOYRETTE NOUEL, MEMBER
OF LEX MUNDI
Ekaterina Palagina
WHITE & CASE

Alexander Tikhov
NATIONAL CONTAINER COMPANY
Pavel Timofeev
HANNES SNELLMAN LLC
Ilya Titov
HOUGH TROFIMOV & PARTNERS
Ksenia Tomilina
GIDE LOYRETTE NOUEL, MEMBER
OF LEX MUNDI
Philip Tsukanov
WHITE & CASE LLC

Jean Claude Gwiza Muzaribara
CREDIT REFERENCE BUREAU
AFRICA LTD
...

Francois Xavier Kalinda
UNIVERSITÉ NATIONALE DU
RWANDA

Ilya Kotov
ATTORNEYS-AT-LAW BORENIUS

Aleksandr Panarin
LOGISTIC SERVICE

Vadim Kovalyov
CAPITAL LEGAL SERVICES LLC

Svetlana Panfilova
DEBEVOISE & PLIMPTON LLP

Ilya Tur
EGOROV PUGINSKY AFANASIEV &
PARTNERS

Oksana Kozhevnikova
CAPITAL LEGAL SERVICES LLC

Sergey Parinov
RUSSIN & VECCHI

Aleksandra Ulezko
KACHKIN & PARTNERS

Tushabe Karim
RWANDA DEVELOPMENT BOARD

Alyona Kozyreva
NORTON ROSE FULBRIGHT
(CENTRAL EUROPE) LLP

Roman Perekhodov
TRANSAS

Igor Vasiliev
FEDERAL SERVICE FOR STATE
REGISTRATION CADASTRE AND
CARTOGRAPHY

Julien Kavaruganda
K-SOLUTIONS AND PARTNERS

Natalia Kruglova

Eugene Perkunov
HOGAN LOVELLS

Artem Kukin
INFRALEX LAW FIRM

Yulia Petrakova
ALRUD LAW FIRM

Dmitry Kunitsa
MORGAN LEWIS

Maya Petrova
BORENIUS ATTORNEYS AT LAW

David Lasfargue
GIDE LOYRETTE NOUEL, MEMBER
OF LEX MUNDI

Daria Plotnikova
WHITE & CASE LLC

Sergei Lee
CASTRÉN & SNELLMAN
INTERNATIONAL LTD
...

Stepan Lubavsky
FINEC
Sergey Lubimov
DLA PIPER RUS LIMITED
Dmitry Lyakhov
RUSSIN & VECCHI
Igor N
...

Jonathan Russin
RUSSIN & VECCHI
Natalia Ryasina
DS LAW

Artem Vasyutin
DELOITTE & TOUCHE CIS
Sergey Vasilievich Vasyutin
LENENERGO
Darya Vetrova
CASTREN & SNELLMAN
INTERNATIONAL LTD
...

Alexandra Stelmakh
EGOROV PUGINSKY AFANASIEV &
PARTNERS
Anna Stroeva
INFRALEX LAW FIRM
Ivetta Tchistiakova-Berd
GIDE LOYRETTE NOUEL, MEMBER
OF LEX MUNDI
Evgenia Teterevkova
ATTORNEYS-AT-LAW BORENIUS

Théophile Kazeneza
CABINET D’AVOCATS KAZENEZA
Bernice Kimacia
PWC
Kanamugire Makuza Aloys
Lewis Manzi Rugema
ECOBANK

Isaïe Mhayimana
CABINET D’AVOCATS
MHAYIMANA

Vladislav Zabrodin
CAPITAL LEGAL SERVICES LLC

Inga Skvortsova
LAW FIRM CLIFF

Eudes Kayumba
LANDMARK STUDIES

Taisiya Vorotilova
BAKER & MCKENZIE

Kirill Saskov
KACHKIN & PARTNERS

Victoria Sivachenko
ALRUD LAW FIRM

Didas Kayihura
FOUNTAIN ADVOCATES

Abdou Mbaya
SPEDAG INTERFREIGHT

Maxim Yashkov
PUBLISHING HOUSE CUSTOMS
TERMINALS

Yulia Aleksandrovna Shirokova
MOESK

Marcellin Kamanzi

Dmitry Volkov
SU-33

Anna Rybalko
DELOITTE & TOUCHE CIS

Roman Anatolyevich
Shcherbakov
MOESK

Désiré Kamanzi
ENSAFRICA RWANDA

Maria Zhilina
KACHKIN & PARTNERS

RWANDA
BOLLORÉ AFRICA LOGISTICS
NATIONAL BANK OF RWANDA
Alberto Basomingera
CABINET D’AVOCATS
MHAYIMANA
Natacha Bugondo
ADVOCARE RWANDA
Flavia Busingye
RWANDA CUSTOMS
Louis de Gonzague
Mussengangabo
VISION TECHNOLOGIES
COMPANY
Paul Frobisher Mugambwa
PWC UGANDA
Daniel Gasaatura
TRUST LAW CHAMBERS
Patrick Gashagaza
GPO PARTNERS RWANDA
Felix Gatanazi
EWSA

Martin Nkurunziza
GPO PARTNERS RWANDA
Abel Nsengiyumva
CABINET ABEL NSENGIYUMVA
Hervé Ntege
ENSAFRICA RWANDA
Emmanuel Nyamurangwa
CITY OF KIGALI - ONE STOP
CENTER FOR CONSTRUCTION
Aaron Nzeyimana
SPEDAG INTERFREIGHT
Nelson Ogara
PWC
Josue Penaloza Quispe
BRALIRWA LTD
...

Kizito Safari
BONA FIDE LAW CHAMBERS
Yves Sangano
RWANDA DEVELOPMENT BOARD,
OFFICE OF THE REGISTRAR
GENERAL OF RWANDA
Sandrali Sebakara
BUREAU D’ETUDES CAEDEC

Alvin Mihigo
R & PARTNERS LAW FIRM

Nelly Umugwaneza
ADVOCARE RWANDA

Merard Mpabwanamaguru
CITY OF KIGALI - ONE STOP
CENTER FOR CONSTRUCTION

M
...


Patrick Mutimura
BMP CONSULTING

Stephen Zawadi
MILLENIUM LAW CHAMBERS

Pothin Muvara
RWANDA NATURAL RESOURCES
AUTHORITY, OFFICE OF THE
REGISTRAR OF LAND TITLES

SAMOA
BETHAM BROTHERS
ENTERPRISES LTD
...


Lawrie Burich
QUANTUM CONTRAX LTD
...

Murray Drake
DRAKE & CO
...
P
...


Nasser H
...
P
...


Uputaua Lauvi
MINISTRY OF COMMERCE,
INDUSTRY AND LABOUR

Marco Giancarlo Rossini
STUDIO LEGALE E NOTARILE

Shareef Mohamed Al-Barrak
ELECTRICITY & CO-GENERATION
REGULATORY AUTHORITY

Tima Leavai
LEAVAI LAW
Tuala Pat Leota
PUBLIC ACCOUNTANT
Leulua’iali’i Tasi Malifa
MALIFA LAW
Albert Meredith
MINISTRY OF COMMERCE,
INDUSTRY AND LABOUR
Tomasi Peni
MINISTRY OF COMMERCE,
INDUSTRY AND LABOUR
Arthur R
...

Faiiletasi Elaine Seuao
MINISTRY OF COMMERCE,
INDUSTRY AND LABOUR
Sala Theodore Sialau Toalepai
SAMOA SHIPPING SERVICES LTD
...
ERIKA MARANI
Gianna Burgagni
STUDIO LEGALE E NOTARILE
Cecilia Cardogna
STUDIO LEGALE E NOTARILE
Fabrizio Castiglioni
COSTRUZIONI EDILIZIE
SAMMARINESI (CES) SA

Daniela Tombeni
S
...
STUDIO SPED
Stefano Trenta
ANTAO PROGETTI S
...
A
...
Aguiar
SOCOGESTA
Eudes Aguiar
AGUIAR & PEDRONHO STUDIO
Helder Batista
DESPACHANTE HELDER BATISTA
Pascoal Daio
PASCOAL DAIO - ADVOGADO &
CONSULTOR
Amadeu Goncalves
MANUEL ROQUE LTDA
Pedro Guiomar
SUPERMARITIME SÃO TOMÉ
Idalina Martinho
DESPACHANTE HELDER BATISTA
Raul Mota Cerveira
MIRANDA CORREIA AMENDOEIRA
& ASSOCIADOS - SOCIEDADE DE
ADVOGADOS RL
Virna Neves
MIRANDA CORREIA AMENDOEIRA
& ASSOCIADOS - SOCIEDADE DE
ADVOGADOS RL
João Branco Pedro
NATIONAL LABORATORY FOR
CIVI ENGINEERING - LNEC
Guilherme Posser da Costa
POSSER DA COSTA ADVOGADOS
ASSOCIADOS
Hugo Rita
TERRA FORMA

Debora Cenni
STUDIO LEGALE E NOTARILE

Ana Roque
MANUEL ROQUE LTDA

Alberto Chezzi
STUDIO CHEZZI

José Manuel Roque
MANUEL ROQUE LTDA

Simone Gatti
WORLD LINE

Cláudia Santos Malaquias
MIRANDA CORREIA AMENDOEIRA
& ASSOCIADOS - SOCIEDADE DE
ADVOGADOS RL

Giovanni Guerra
TELECOM ITALIA SAN MARINO
S
...
A
...
ERIKA MARANI
Lucia Mazza
UFFICIO TECNICO DEL CATASTO
Daniela Mina
STUDIO COMMERCIALE
Gianlucca Minguzzi
ANTAO PROGETTI S
...
A
Lorenzo Moretti
STUDIO LEGALE E NOTARILE
Alfredo Nicolini
LAWYER
Sara Pelliccioni
STUDIO LEGALE E NOTARILE
AVV
...

Fayyaz Ahmad
JONES LANG LASALLE
Fayez Ghaith Al Jabri
ELECTRICITY & CO-GENERATION
REGULATORY AUTHORITY
Ahmad Al Kassem
TALAL ABU GHAZALEH LEGAL
(TAG-LEGAL)

Fayez Aldebs
PWC SAUDI ARABIA
Abdullah Al-Hashim
AL-JADAAN & PARTNERS LAW
FIRM
Omar AlHoshan
ALHOSHAN CPAS
& CONSULTANTS -

SENEGAL
SENELEC

Mouhamed Kebe
GENI & KEBE

Khaled Abou El Houda
CABINET KANJO KOITA

Ousseynou Lagnane
BDS

Bassambie Bationo
BCEAO

Moussa Mbacke
ETUDE NOTARIALE MOUSSA
MBACKE

Souadou Diagne Camara
BCEAO
Cheikhou Dia
RMA SÉNÉGAL
Ibrahima Diagne
GAINDE 2000

Dame Mbaye
TRANSFRET DAKAR
Birame Mbaye Seck
DIRECTION DU DEVELOPPEMENT
URBAIN
Ibrahima Mbodj
AVOCAT À LA COUR

CORRESPONDENT OF RUSSELL
BEDFORD INTERNATIONAL

Amadou Diouldé Diallo
MINISTÈRE DE L’URBANISME ET
DE L’ASSAINISSEMENT

Mohammed Al-Jadaan
AL-JADAAN & PARTNERS LAW
FIRM

Maciré Diallo
SCP NDIAYE & DIAGNE,
NOTAIRES ASSOCIÉS

Turki Al-Joufi
TATWEER EDUCATIONAL
TRANSPORTATION COMPANY

Abdoul Aziz Dieng
CENTRE DE GESTION AGRÉÉ DE
DAKAR

Yousef A
...
Alnogaithan
THE LAW OFFICE OF BANDER
ALNOGAITHAN
Abbas Alrady
AL-SOAIB LAW FIRM
Wisam AlSindi
ALSINDI LAW FIRM
Mohammed Al-Soaib
AL-SOAIB LAW FIRM
Farrah Andejani
ELECTRICITY & CO-GENERATION
REGULATORY AUTHORITY

Amadou Diop
GAINDE 2000
Angelique Pouye Diop
AGENCE CHARGÉE DE
LA PROMOTION DE
L’INVESTISSEMENT ET DES
GRANDS TRAVAUX
Babacar Biram Diop
CABINET BABACAR BIRAM DIOP
Fodé Diop
ART INGÉNIERIE SUARL

Shaimaa Atbani
ALSINDI LAW FIRM

Madjiguene Diop
RMA SÉNÉGAL

Lamisse Bajunaid
ALSINDI LAW FIRM

Mohamed Abdoulaye Diop
BOLLORÉ AFRICA LOGISTICS

John Balouziyeh
DENTONS

Andrée Diop-Depret
GA 2 D

Majed Mohammed Garoub
LAW FIRM OF MAJED M
...
Hourani
HOURANI & ASSOCIATES

Cheikh Fall
CABINET D’AVOCAT CHEIKH FALL

Amgad Husein
DENTONS

Khadidja Fayez Fall Cisse
BCEAO

Zaid Mahayni
LAW OFFICE OF HASSAN
MAHASSNI

Bakary Faye
BDS

Papa Alboury Ndao
RMA SÉNÉGAL
Aly Mar Ndiaye
COMMISSION DE RÉGULATION DU
SECTEUR DE L’ELECTRICITÉ
Amadou Ndiaye
CABINET D’AVOCAT CHEIKH FALL

Layti Ndiaye
BOLLORÉ AFRICA LOGISTICS
Ndéné Ndiaye
Macodou Ndour
CABINET MOCODOU NDOUR
Moustapha Ndoye
CABINET MAITRE MOUSTAPHA
NDOYE
Dominique Picard
SOCIÉTÉ CIVILE
PROFESSIONNELLE D’AVOCATS
FRANÇOIS SARR & ASSOCIÉS
Herinjiva Tahirisoa
Rakotonirina
CABINET JOHN W
...
, MEMBER OF BOWMAN
GILFILLAN AFRICA GROUP
Babacar Sall
BDS
Moussa Sanogo
BCEAO
François Sarr
SOCIÉTÉ CIVILE
PROFESSIONNELLE D’AVOCATS
FRANÇOIS SARR & ASSOCIÉS
Daniel-Sédar Senghor
SCP SENGHOR & SARR,
NOTAIRES ASSOCIÉS

Humaid Mudhaffr
SAUDI CREDIT BUREAU - SIMAH

Catherine Faye Diop
ORDRE DES ARCHITECTES DU
SÉNÉGAL

Fazal Rahman
FAWAZ SHAWAN CUSTOMS
BORKERS

Sylvie Gomis
SCP SENGHOR & SARR,
NOTAIRES ASSOCIÉS

Mustafa Saleh
EMDAD ARRIYADH

Papa Bathie Gueye
RMA SÉNÉGAL

Traore Tamsir Ousmane
TEX COURRIER

Nadeem Shaikh
GLOBE MARINE SERVICES CO
...


Alioune Ka
ÉTUDE SCP MES KA

Peter Stansfield
AL-JADAAN & PARTNERS LAW
FIRM

Abdou Kader Konaté
ARCHITECTE DPLG

Ibra Thiombane
CABINET JURAFRIK CONSEIL EN
AFFAIRES (JCA)

Juergen Villmer
AL-SOAIB LAW FIRM
Abdul Aziz Zaibag
ALZAIBAG CONSULTANTS
Soudki Zawaydeh
PWC SAUDI ARABIA

Abdou Dialy Kane
CABINET MAÎTRE ABDOU DIALY
KANE
Mahi Kane
PRICEWATERHOUSECOOPERS
TAX & LEGAL SA

Yaya Sow
CADASTRE SENEGAL
Codou Sow-Seck
GENI & KEBE

Emmanuel Yehouessi
BCEAO

SERBIA
PD ELEKTRODISTRIBUCIJA
BEOGRAD D
...
O
...
A
...
, CORRESPONDENT LAW
FIRM OF GIDE LOYRETTE NOUEL
Dragan Draca
PWC SERBIA
Jovana Gavrilovic
PRICA & PARTNERS LAW OFFICE
Saša Gavrilović
MARIĆ, MALIŠIĆ & DOSTANIĆ
O
...
D
...
D
...
A
...
, CORRESPONDENT LAW
FIRM OF GIDE LOYRETTE NOUEL
Vidak Kovacevic
WOLF THEISS
Ivan Krsikapa
NINKOVIĆ LAW OFFICE
Zach Kuvizić
KUVIZIC & TADIC LAW OFFICE
Ruzica Macukat
SERBIAN BUSINESS REGISTERS
AGENCY
Miladin Maglov
SERBIAN BUSINESS REGISTERS
AGENCY

Rastko Malisic
MARIĆ, MALIŠIĆ & DOSTANIĆ
O
...
D
...

Conrad Lablache
PARDIWALLA TWOMEY
LABLACHE
Franky Madeleine
SEYCHELLES LICENSING
AUTHORITY
Malcolm Moller
APPLEBY
Joe Morin
MAHE SHIPPING CO
...

Margaret Nourice
STAMP DUTY COMMISSION
Brian Orr
MEJ ELECTRICAL
Poonkhothai Pillay
EY SEYCHELLES
Serge Rouillon
ATTORNEY-AT-LAW
Divino Sabino
PARDIWALLA TWOMEY
LABLACHE

Cheryl Blake
B&J PARTNERS
Beatrice Chaytor
CHARIOT EIGHT
Leslie Theophilus Clarkson
AHMRY SERVICES
Grace Coleridge-Taylor
CHARIOT EIGHT
Abu Bakr Dexter
E
...
C
...

Ibrahim Dumbuya
BANK OF SIERRA LEONE
Mariama Dumbuya
RENNER THOMAS & CO
...

Yada Williams
YADA WILLIAMS AND ASSOCIATE

SINGAPORE
ALLEN & GLEDHILL LLP
CHIP ENG SENG CORPORATION
LTD
...
LTD
...

Rachel Chan
PAUL HYPE PAGE MANAGEMENT
SERVICE PTE
...

Shi-Chien Chia
MINISTRY OF TRADE & INDUSTRY
Ng Chin Lock
SP POWERGRID LTD
...


Kit Min Chye
TAN PENG CHIN LLC

Olive Gooding Ajax
CORPORATE AFFAIRS
COMMISSION OF SIERRA LEONE

Kamil Dada
TETRAFLOW PTE LTD
...
, ADELE
CHAMBERS
Mariama Seray Kallay
GOVERNMENT OF SIERRA LEONE

Denny Dunsford
MINISTRY OF MANPOWER
Miah Fok
CREDIT BUREAU SINGAPORE
PTE
...


Alieyah Keita

Sandy Foo
DREW NAPIER

Adekunle Milton King
PETROLEUM DIRECTORATE

Stephanie Kam
MINISTRY OF TRADE & INDUSTRY

George Kwatia
PWC GHANA

You Ying Karen Hsu
WONG TAN & MOLLY LIM LLC

Peter Larvai
BANK OF SIERRA LEONE

Soo How Koh
PWC SINGAPORE

Millicent Lewis-Ojumu
CLAS CONSULT LTD
...
Latha
ACCOUNTING & CORPORATE
REGULATORY AUTHORITY, ACRA

Corneleius Max-Williams
DESTINY SHIPPING AGENCIES
LTD
...


Ho Ming Lee
ACCOUNTING & CORPORATE
REGULATORY AUTHORITY, ACRA

John Dudley Okrafo-Smart
CLAS CONSULT LTD
...
LTD
...
Shah
BARRISTER &
ATTORNEY-AT-LAW

Mallay F
...
LTD
...
LTD
...
R
...

Silvia Belovičová
WHITE & CASE S
...
O
...
R
...

Peter Cavojsky
CLS ČAVOJSKÝ & PARTNERS,
S
...
O
...
R
...

Kristina Čermáková
PETERKA & PARTNERS
Tomas Cibula
WHITE & CASE S
...
O
...
R
...

Jan Dvorecky
GREEN INTEGRATED LOGISTICS
(SLOVAKIA) S
...
O
...
R
...


Lukas Kralovic
WHITE & CASE S
...
O
...
R
...

Filip Lukáč
HMG & PARTNERS, S
...
O
...
R
...

Jaroslav Niznansky
JNC LEGAL S
...
O
...
R
...

Peter Ondrejka
MINISTRY OF ECONOMY
Simona Rapavá
WHITE & CASE S
...
O
...
R
...

Gerta Sámelová-Flassiková
ALIANCIAADVOKÁTOV AK, S
...
O
...
R
...

Zuzana Satkova
PWC SLOVAKIA
Christiana Serugova
PWC SLOVAKIA
Katarina Simurdova
PWC SLOVAKIA
Jakub Skaloš
MINISTRY OF ECONOMY
Jaroslav Škubal
PRK PARTNERS S
...
O
...
R
...

Ondrej Vaňovič
HMG & PARTNERS, S
...
O
...
R
...

Dagmar Zukalová
ZUKALOVÁ - ADVOKÁTSKA
KANCELÁRIA S
...
O
...
R
...


Marjan Babič
AGENCY FOR PUBLIC LEGAL
RECORDS AND RELATED
SERVICES

Peter Hodál
WHITE & CASE S
...
O
...
R
...


Lana Brlek
PWC CROATIA

Lucia Huntatová
JNC LEGAL S
...
O
...
R
...


Črtomir Brvar
ENERGY AGENCY OF THE
REPUBLIC OF SLOVENIA

Miroslav Jalec
ZÁPADOSLOVENSKÁ
DISTRIBUČNÁ AS
Martin Kluch
HAMALA KLUCH VÍGLASKÝ S
...
O
...
R
...

Miroslav Kopac
NATIONAL BANK OF SLOVAKIA

Miodrag Dordevic
SUPREME COURT OF THE
REPUBLIC OF SLOVENIA
Mojca Fakin
CMS REICH-ROHRWIG HAINZ
Alenka Gorenčič
DELOITTE
Mira Goršič
PWC SLOVENIA

Eva Gostisa
LAW OFFICE JADEK & PENSA
D
...
O
...
P
...
O
...


Hermina Govekar Vičič
KREDITNI BIRO SISBON, D
...
O
...
N
...
- O
...


Damijan Gregorc
LAW FIRM MIRO SENICA AND
ATTORNEYS, D
...
O
...
Sam
SOLOMON ISLANDS ELECTRICITY
AUTHORITY

Damjana Iglič
BANK OF SLOVENIA

Teja Skrt
BDO SVETOVANJE D
...
O
...
N
...
- O
...


Zoran Skubic
MINISTRY OF JUSTICE

Gerald Stenzel
TRADCO SHIPPING

Branka Španič
LAW OFFICE JADEK & PENSA
D
...
O
...
P
...

Jernej Jeraj
CMS REICH-ROHRWIG HAINZ
Sabina Jereb
MINISTRY FOR ENVIRONMENTAL
AND SPATIAL PLANNING
Ana Kavčič
AGENCY FOR PUBLIC LEGAL
RECORDS AND RELATED
SERVICES
Lovro Kleindienst
TRANSOCEAN SHIPPING
Miro Košak
NOTARY OFFICE KOŠAK
Nina Kristarič
LAW OFFICE JADEK & PENSA
D
...
O
...
P
...
N
...
- O
...

Tanja Magister
DELOITTE

Rok Starc
NOTARY OFFICE KOŠAK
Maja Stojko
LAW FIRM MIRO SENICA AND
ATTORNEYS, D
...
O
...
O
...

Urša Volk
AGENCY FOR PUBLIC LEGAL
RECORDS AND RELATED
SERVICES
Katja Wostner
BDO SVETOVANJE D
...
O
...
N
...
- O
...


Matjaž Miklavčič
SODO D
...
O
...
O
...


Hugo Baulo
SOLOMON ISLANDS PORTS
AUTHORITY
Don Boykin
PACIFIC ARCHITECTS LTD
...
N
...
- O
...


John Katahanas
SOL - LAW

Nataša Pipan Nahtigal
ODVETNIKI ŠELIH & PARTNERJI
Bojan Podgoršek
NOTARIAT
Marija Remic
AGENCY FOR PUBLIC LEGAL
RECORDS AND RELATED
SERVICES
Kostanca Rettinger
KREDITNI BIRO SISBON, D
...
O
...
N
...
- O
...

Sanja Savic
DELOITTE

Mathew Korinihona
SOLOMON ISLANDS ELECTRICITY
AUTHORITY
Judah Kulabule
SOLOMON ISLANDS PORTS
AUTHORITY
Aaron Levine
ASIAN DEVELOPMENT BANK
Veronica Manedika
MINISTRY OF COMMERCE,
INDUSTRY, LABOR AND
IMMIGRATION
Wayne Morris
MORRIS & SOJNOCKI
CHARTERED ACCOUNTANTS
Norman Nicholls
SOLOMON ISLANDS ELECTRICITY
AUTHORITY
Haelo Pelu
MINISTRY OF JUSTICE AND
LEGAL AFFAIRS

Makario Tagini
GLOBAL LAWYERS, BARRISTERS
& SOLICITOR
Whitlam K
...

Lauren Barnett
WERKSMANS INC
...

Pieter Faber
PWC SOUTH AFRICA
Elise Gibson
GROSSKOPFF LOMBART
HUYBERECHTS & ASSOCIATES
ARCHITECTS
Kim Goss
BOWMAN GILFILLAN INC
...

Christopher Holfeld
WEBBER WENTZEL
Tobie Jordaan
CLIFFE DEKKER HOFMEYR INC
...


Denise Bejarano
PÉREZ - LLORCA

Jorge Hernandez
EQUIFAX IBERICA

Julio Peralta de Arriba
WHITE & CASE

Johnathan Leibbrandt
WEBBER WENTZEL

Allen West
DEPARTMENT OF RURAL
DEVELOPMENT AND LAND
REFORM

Andrés Berral
CLIFFORD CHANCE

Carlos Hernández
METROPOLITANA DE ADUANAS Y
TRANSPORTES & ICONTAINERS
...

Thomas Makamo
RIVONINGO ENGINEERS
Kyle Mandy
PWC SOUTH AFRICA
Ina Meiring
WERKSMANS INC
...

Gabriel Meyer
NORTON ROSE FULBRIGHT
SOUTH AFRICA
Katlego Mmuoe
Sizwe Msimang
BOWMAN GILFILLAN INC
...

Joshua Parbhu
WHITE & CASE LLP
Kwanele Radebe
THE STANDARD BANK OF SOUTH
AFRICA LIMITED
Steve Raney
WHITE & CASE LLP
Philippa Reyburn
ENS
Lucinde Rhoodie
CLIFFE DEKKER HOFMEYR INC
...

Matthew Richards
WHITE & CASE LLP
Marc Schulman
BOWMAN GILFILLAN INC
...

Alex Short
WATERMARK AUDITORS
INCORPORATED - MEMBER
OF RUSSELL BEDFORD
INTERNATIONAL

Gareth Williams-Wynn
KARTER MARGUB & ASSOCIATES
Kerri Wilson
WEBBER WENTZEL
Merwyn Wolder
REDLOW SOLAR POWER
Andrew Wood
GROSSKOPFF LOMBART
HUYBERECHTS & ASSOCIATES
ARCHITECTS

SOUTH SUDAN
SOUTHERN SUDAN ELECTRICITY
CORPORATION
Gabriel Aliga
EQUITY BANK SOUTH SUDAN
LTD
...
ADVOCATES
Monyluak Alor Kuol
LIBERTY ADVOCATES LLP
Gabriel Isaac Awow
MINISTRY OF JUSTICE
Premal Bataviya
INFOTECH GROUP
Michael Fend
SOUTH SUDAN ELECTRICITY
COMPANY
Biju Kumar MS
BOLLORÉ AFRICA LOGISTICS
Josepho Lokuku
JOPHCO ENGINEERING AND
CONSTRUCTION
Robert Lwoki
SOUTH SUDAN LAND
COMMISSION
Kris Mbaya
UAP INSURANCE SUDAN LIMITED
Ramadhan A
...
Mogga
RAMADHAN & LAW ASSOCIATES
Issa Muzamil
JUBA ASSOCIATED ADVOCATES
Hannington O
...
ADVOCATES

Vicente Bootello
J&A GARRIGUES SLP
Agustín Bou
JAUSAS
Laura Camarero
BAKER & MCKENZIE
Jesús Camy
REGISTRO DE LA PROPIEDAD
GRANADA 6
Ignacio Castrillón Jorge
IBERDROLA SA
Lorenzo Clemente Naranjo
J&A GARRIGUES SLP
Juan Jose Corral Moreno
CUATRECASAS, GONÇALVES
PEREIRA
Beatriz Corredor
COLEGIO DE REGISTRADORES DE
LA PROPIEDAD Y MERCANTILES
DE ESPAÑA
Miguel Cruz Amorós
PWC SPAIN
Guillermo De La Cruz García
CONERSA - GRUPO PROINGEC
Pelayo de Salvador Morell
DESALVADOR REAL ESTATE
LAWYERS
Iván Delgado González
PÉREZ - LLORCA
Rossanna D’Onza
BAKER & MCKENZIE
Iván Escribano
J&A GARRIGUES SLP
Antonio Fernández
J&A GARRIGUES SLP
Luis Fernandez Del Pozo
COLEGIO DE REGISTRADORES DE
LA PROPIEDAD Y MERCANTILES
DE ESPAÑA

Zarene van den Bergh
PWC SOUTH AFRICA

José Luis Amérigo Sánchez
GÓMEZ-ACEBO & POMBO
ABOGADOS

Dawid Van der Berg
BDO

Ana Armijo
ASHURST LLP

Eleni Vassilopoulos
NORTON ROSE FULBRIGHT
SOUTH AFRICA

Antonio Bautista
CLEANERGETIC SEERS
SOLUTIONS SLU

Joaquin Macias
ASHURST LLP
Alberto Manzanares
ASHURST LLP
Juan Carlos Marhuenda Gómez
TLACORP
Daniel Marín
GÓMEZ-ACEBO & POMBO
ABOGADOS
Ignacio Martín Martín
Fernández
CAZORLA ABOGADOS, SLP
Lidia Martínez
URÍA & MENÉNDEZ, MEMBER OF
LEX MUNDI
Jorge Martín-Fernández
CLIFFORD CHANCE
Alberto Mata
GÓMEZ-ACEBO & POMBO
ABOGADOS
José Manuel Mateo
J&A GARRIGUES SLP

Ignacio García Errandonea
J&A GARRIGUES SLP

Eva Mur Mestre
PWC SPAIN

Borja García-Alamán
J&A GARRIGUES SLP

Nicolás Nogueroles Peiró
COLEGIO DE REGISTRADORES DE
LA PROPIEDAD Y MERCANTILES
DE ESPAÑA

Juan Ignacio Gomeza Villa
NOTARIO DE BILBAO

Jane Strydom
TRANSUNION

Diego Luis Luque Hurtado
CAZORLA ABOGADOS, SLP

Pedro Moreira
SCA LEGAL

SPAIN

Angel Alonso Hernández
URÍA & MENÉNDEZ, MEMBER OF
LEX MUNDI

Julio Isidro Lozano
LVA LUIS VIDAL + ARCHITECTS

Silvia García
DELOITTE ABOGADOS SL

Ana Gómez
MONEREO MEYER MARINEL-LO
ABOGADOS

Riaan Stipp
PWC SOUTH AFRICA

Alberto Lorenzo
BANCO DE ESPAÑA

Alberto Monreal Lasheras
PWC SPAIN

Paul Wanambuko
ACCOUNTANT

David Alcobre Torre
CONSIGNACIONES TORO &
BETOLAZA, SA

Marina Lorente
J&A GARRIGUES SLP

Héctor Gómez Ferrero
DLA PIPER SPAIN SL

Archana Sinha
RCS PVT
...
BUSINESS
ADVISORS GROUP

Rajat Ratan Sinha
RCS PVT
...
BUSINESS
ADVISORS GROUP

Jaime Llopis
CUATRECASAS, GONÇALVES
PEREIRA

Valentin Merino Lopez
VALENTIN MERINO
ARQUITECTOS, SL
...
LTD
...

COM

Roberto Tojo Thomas de
Carranza
CLIFFORD CHANCE
Victoriano Travieso
STEPINLAW SLP
Alejandro Valls
BAKER & MCKENZIE
Juan Verdugo
J&A GARRIGUES SLP
Fernando Vives Ruiz
J&A GARRIGUES SLP

SRI LANKA
Melissa Abeyasinghe
TIRUCHELVAM ASSOCIATES
Asanka Abeysekera
TIRUCHELVAM ASSOCIATES
Surangi Arawwawala
PWC SRI LANKA
Pradeep Banduwansa
COMMERCIAL BANK
Senajith Dasanayake
CEYLON ELECTRICITY BOARD
Savantha De Saram
D
...
& F
...
J
...
DE SARAM, MEMBER OF
LEX MUNDI
Anjali Fernando
F
...
& G
...
N
...
Fernando
COLOMBO MUNICIPAL COUNCIL
Ranil Gamage
SUPER NEAT TECHNOLOGY
PVT
...

Lasantha Garusinghe
TIRUCHELVAM ASSOCIATES
Jivan Goonetilleke
D
...
& F
...
Mervyn Gunasekera
LAN MANAGEMENT
DEVELOPMENT SERVICE
Thilanka Namalie
Haputhanthrie
JULIUS & CREASY
Halin Hettigoda
SAMPATH BANK PLC
M
...
LTD
...
L
...
DE SARAM
Shamalie Jayatunge
TIRUCHELVAM ASSOCIATES
Sanjaya Jayawardene
PROGRESSIVE DESIGN
ASSOCIATES
Niral Kadawatharatchie
FREIGHT LINKS INTERNATIONAL
(PTE
...

Yudhishtran Kanagasabai
PWC SRI LANKA
Charana Kanankegamage
F
...
& G
...
) LTD
...
J
...
DE SARAM, MEMBER OF
LEX MUNDI

Sumith Nandana
TECHWELL ENGINEERING PVT
...


John Wilson
JOHN WILSON PARTNERS

Laila Nasry
TIRUCHELVAM ASSOCIATES

ST
...
Francis
PETERSON D
...


Charlene Acquisto
SCOTIABANK

Carol J
...
LUCIA ELECTRICITY
SERVICES LTD
...
FOSTER & ASSOCIATES

Jan Dash
LIBURD AND DASH

Claude Guillaume
INTERISLAND ARCHITECTS AND
PLANNERS

Abirami Nithiananthan
TIRUCHELVAM ASSOCIATES
Michael Paiva
TIRUCHELVAM ASSOCIATES
Nirosha Peiris
TIRUCHELVAM ASSOCIATES
Priyantha Peiris
COLOMBO MUNICIPAL COUNCIL
Ravi Peiris
EMPLOYERS’ FEDERATION OF
CEYLON
Dayaratne Perera
COLOMBO MUNICIPAL COUNCIL
K
...
G
...
LTD
...
Puviharan
DEPARTMENT OF CUSTOMS
S
...

Mohamed Rizni
SPEED INTERNATIONAL FREIGHT
SYSTEMS LTD
...
Henderson
HENDERSON LEGAL CHAMBERS
Stanley Jacobs
SKIPA
Damian E
...
Kelsick
KELSICK, WILKIN AND
FERDINAND
Mickia Mills
NISBETTS
Adeola Moore
INLAND REVENUE AUTHORITY
Jeoffrey Nisbett
NISBETTS
Nervin Rawlins
INLAND REVENUE AUTHORITY
Heidi Lynn Sutton
LAW OFFICES OF T
...
C
...
LIBURD
& H
...
SUTTON
Warren Thompson
CONSTRUCTION MANAGEMENT
AND CONSULTING AGENCY INC
...
LUCIA

Shane Silva
JULIUS & CREASY

Michelle Anthony-Desir
DU BOULAY, ANTHONY & CO
...
P
...
CONSULTANTS PVT
...
H
...
M
...
Tilakasena
CEYLON ELECTRICITY BOARD
Neil Tissera
COLOMBO MUNICIPAL COUNCIL

Nihal Keppetipola
SRI LANKA PORTS AUTHORITY

Dhanika Umagiliya
AMARASURIYA ASSOCIATES

Janaka Lakmal
CREDIT INFORMATION BUREAU
LTD
...
J
...
DE SARAM, MEMBER OF
LEX MUNDI

Ishara Madarasinghe
F
...
& G
...
G
...
Wijeweera
DEPARTMENT OF CUSTOMS

Thaddeus M
...

Sean Compton
MELON|DESIGN:ARCHITECTURE
Swithin Donelly
MINISTRY OF ECONOMIC
AFFAIRS, ECONOMIC PLANNING
& NATIONAL DEVELOPMENT
Raquel Du Boulay-Chastanet
DU BOULAY, ANTHONY & CO
...
Duncan
BDO ST
...

Barbara Eloi
CARRIBEAN CARGO DC
Peter I
...
FOSTER & ASSOCIATES

Shelda London
WEST INDES SHIPPING &
TRADING CO
...

Richard Peterkin
GRANT THORNTON

Theona R
...
Layne
ERROL E
...


Omer Abdel Ati
OMER ABDEL ATI SOLICITORS

Joanna Raynold-Arthurton
MINISTRY OF PHYSICAL
PLANNING, HOUSING, AND
URBAN RENEWAL

Ali Abdelrahman Khalil
SHAMI, KHALIL & SIDDIG
ADVOCATES

Janelle Sagusingh
TROPICAL SHIPPING

Wael Abdin
SUDANESE COMMERCIAL LAW
OFFICE

Catherine Sealys
PROCUREMENT SERVICES
INTERNATIONAL

Yousif Abdulatif
DARKA FOR TRADING &
SERVICES CO
...


Michael Sewordor
MINISTRY OF COMMUNICATIONS,
WORKS, TRANSPORT AND
PUBLIC UTILITIES

Abdalla Abuzeid
ABDALLA A
...
Rose
PETER I
...


ST
...
VINCENT ELECTRICITY
SERVICES LTD
...
ADAM & ASSOCIATES
Al Fadel Ahmed Al Mahdi
AL MAHDI LAW OFFICE
Emtinan Ali
CIASA
Mohanad Almokashfi
CIASA
Abdalla Bashir Ibrahim Alataya
MAHMOUD ELSHEIKH OMER &
ASSOCIATES ADVOCATES
Awad Darwish
DARKA FOR TRADING &
SERVICES CO
...


Michaela N
...
LAW FIRM

Alaa El Numan
DARKA FOR TRADING &
SERVICES CO
...


Kay R
...
Bacchus-Browne
KAY BACCHUS-BROWNE
CHAMBERS

Mohamed Elebodi
CIASA

Rene M
...
LAW FIRM

Ahmed M
...


Allan P
...


Hiba Elsayed Abdo
MAHMOUD ELSHEIKH OMER &
ASSOCIATES ADVOCATES

Mikhail A
...
Charles
BAPTISTE & CO
...
Commissiong
EQUITY CHAMBERS
Jarand Cummings
CARDINAL LAW FIRM
Stanley DeFreitas
DEFREITAS & ASSOCIATES
Vilma Diaz de Gonsalves
BDO EASTERN CARIBBEAN
Bernadine Dublin
LABOUR DEPARTMENT

Elwaleed Hussein
CIASA
Mohamed Ibrahim
SOMARAIN ORIENTAL CO
...

Amin Mekki Medani
EL KARIB & MEDANI ADVOCATES
Amel Mohamed Shrif
MAHMOUD ELSHEIKH OMER &
ASSOCIATES ADVOCATES
Tarig Monim
STRATEGY CONSULTANTS
Tariq Mubarak
EL KARIB & MEDANI ADVOCATES
Abdulhakim Omar
SDV LOGISTICS
Rayan Omer
OMER ABDEL ATI SOLICITORS
Mohamed Alaaeldin Osman
DARKA FOR TRADING &
SERVICES CO
...

Sayab Mohammed Osman
Ibrahim Swar
MAHMOUD ELSHEIKH OMER &
ASSOCIATES ADVOCATES
Mahasin Siddig
SHAMI, KHALIL & SIDDIG
ADVOCATES
Marwa Taha
SHAMI, KHALIL & SIDDIG
ADVOCATES
Abdel Gadir Warsama Ghalib
DR
...
Clide Cambridge
PARAMARIBO CUSTOM BROKER
& PACKER
Dennis Chandansingh
DCA ACCOUNTANTS &
CONSULTANTS
Anneke Chin-A-Lin
NOTARIAAT ALEXANDER
Anoeschka Debipersad
A
...
DEBIPERSAD & ASSOCIATES
Helen Doelwijt
VERENIGING SURINAAMS
BEDRIJFSLEVEN, SURINAME
TRADE & INDUSTRY
ASSOCIATION
Marcel K
...
V
...
Man
SURIPRINT
Dirk Heave
MINISTRY OF TRADE AND
INDUSTRY
Siegfried Kenswil
KPMG
Susilkumar Gyandath
Rudrepersad Khoen Khoen
ACHARYA ADVOCATEN
Henk Naarendorp
CHAMBER OF COMMERCE &
INDUSTRY

Marcel Persad
BDO ABRAHAMS RAIJMANN &
PARTNERS
Frank E
...
Raijmann
BDO ABRAHAMS RAIJMANN &
PARTNERS
Natasja Robles
VERENIGING SURINAAMS
BEDRIJFSLEVEN, SURINAME
TRADE & INDUSTRY
ASSOCIATION
Adiel Sakoer
N
...
GLOBAL EXPEDITION
Albert D
...
Soerdjbalie
NOTARIAAT R
...
SOERDJBALIE
Silvano Tjong-Ahin
MANAGEMENT INSTITUTE GLIS
Carol-Ann Tjon-Pian-Gi
LAWYER & SWORN TRANSLATOR
Cindy Uden
BDO ABRAHAMS RAIJMANN &
PARTNERS
Milton van Brussel
BDO ABRAHAMS RAIJMANN &
PARTNERS
Jennifer van Dijk-Silos
LAW FIRM VAN DIJK-SILOS
Dayenne Wielingen-Verwey
VERENIGING SURINAAMS
BEDRIJFSLEVEN, SURINAME
TRADE & INDUSTRY
ASSOCIATION
Andy B
...
V
...
L
...
LTD
...

Lars Hartzell
ELMZELL ADVOKATBYRÅ AB,
MEMBER OF IUS LABORIS
Elisabeth Heide
ASHURST ADVOKATBYRÅ AB
Camilla Holmkvist
ASHURST ADVOKATBYRÅ AB
James Hope
ADVOKATFIRMAN VINGE KB,
MEMBER OF LEX MUNDI
Erik Hygrell
WISTRAND ADVOKATBYRÅ
Jenny Jilmstad
ASHURST ADVOKATBYRÅ AB
Magnus Johnsson
ÖHRLINGS
PRICEWATERHOUSECOOPERS AB

Mikael Klang
ASHURST ADVOKATBYRÅ AB
Niklas Körling
WISTRAND ADVOKATBYRÅ
Rikard Lindahl
ADVOKATFIRMAN VINGE KB,
MEMBER OF LEX MUNDI
Dennis Linden
LANTMÄTERIET
Inger Lindhe
LANTMÄTERIET
Christoffer Monell
MANNHEIMER SWARTLING
ADVOKATBYRÅ
Mikael Nelson
TIME ADVOKATBYRÅ
Johan Nylander
CMA SCANDINAVIA AB
Karl-Arne Olsson
GÄRDE WESSLAU ADVOKATBYRÅ
Khatereh Razazi
MAQS LAW FIRM
Therese Säde
ADVOKATFIRMAN VINGE KB,
MEMBER OF LEX MUNDI

Gaudenz Geiger
STAIGER, SCHWALD & PARTNER
LTD
...
LEGAL
AND TAX
Debora Ghilardotti
MOLINO ADAMI GALANTE
Olivier Hari
SCHELLENBERG WITTMER
Nicolas Herzog
NIEDERMANN RECHTSANWÄLTE
Jakob Hoehn
PESTALOZZI, MEMBER OF LEX
MUNDI
Ani Homberger
LALIVE
Patrick Hünerwadel
LENZ & STAEHELIN
Sara Ianni
VISCHER AG
David Jenny
VISCHER AG
Mattias Johnson
FRORIEP

Bojana Saletic
HAMMARSKIÖLD & CO
...
Barthold
FRORIEP

Andrea Molino
MOLINO ADAMI GALANTE

Marc Bernheim
STAIGER, SCHWALD & PARTNER
LTD
...
LEGAL
AND TAX

Urs Schuppisser
KELLER ATTORNEYS-AT-LAW

Andrea Cesare Canonica
SWISS CUSTOMS

Andreas Staubli
PWC SWITZERLAND

Boudry Charles
LALIVE

Daniel Steudler
SWISSTOPO, DIRECTORATE FOR
CADASTRAL SURVEYING

Sonia de la Fuente
ABELS AVOCATS

Beatrice Vetsch
PWC SWITZERLAND

Stefan Eberhard
ABELS AVOCATS

Jean-Paul Vulliéty
LALIVE

Suzanne Eckert
WENGER PLATTNER

Patrick Weber
EKZ ELEKTRIZITÄTSWERKE DES
KANTONS ZÜRICH

Jana Essebier
VISCHER AG
Robert Furter
PESTALOZZI, MEMBER OF LEX
MUNDI

Stefan Zangger
BELGLOBE INTERNATIONAL LLC

SYRIAN ARAB REPUBLIC
ERNST & YOUNG

309

310

DOING BUSINESS 2015

Wadih Abou Nasr
PWC LEBANON

Dennis Chou
VIA JUSTICE LAW OFFICES

Joseph Ni
GOOD EARTH CPA

Takhir Nabiev
AITEN CONSULTING GROUP

Alina Achy
PWC LEBANON

May Chou
APL

Mouazza Al Ashhab
AUDITING CONSULTING
ACCOUNTING CENTER

Philip T
...
Fei
FEI & CHENG ASSOCIATES

Lawrence S
...
Altass
DAMASCUS UNIVERSITY
Jamil Ammar
SYRIAN STRATEGIC THINK TANK
RESEARCH CENTER
Ghada Armali
SARKIS & ASSOCIATES
Karen Baroud
PWC LEBANON
Diaa Dannan
TALAL ABU GHAZALEH LEGAL
(TAG-LEGAL)
Mohammad Khaled Darwicheh
TALAL ABU GHAZALEH LEGAL
(TAG-LEGAL)
Nada ElSayed
PWC LEBANON
Anas Ghazi
MEETHAK - LAWYERS &
CONSULTANTS
Yazan Hosari
CENTRAL BANK OF SYRIA
Mohammad Joumaa
PWC LEBANON
Fadi Kardous
KARDOUS LAW OFFICE
Mamon Katbeh
CENTRAL BANK OF SYRIA
Randa Moftah
CENTRAL BANK OF SYRIA
Gabriel Oussi
OUSSI LAW FIRM
Housam Safadi
SAFADI BUREAU
Fadi Sarkis
SARKIS & ASSOCIATES

TAIWAN, CHINA
GIBSIN ELECTRICAL
CONSULTANCY
Mark Brown
WINKLER PARTNERS
Victor I
...
Chen
TSAR & TSAI LAW FIRM,
MEMBER OF LEX MUNDI
Yo-Yi Chen
FORMOSA TRANSNATIONAL
Chun-Yih Cheng
FORMOSA TRANSNATIONAL
Chia Yi Chiang
PRICEWATERHOUSECOOPERS
LEGAL
Chih-Hung Chiang
MINISTRY OF INTERIOR
Ying-Che Chiu
TAIPEI CITY GOVERNMENT

Mark Harty
LCS & PARTNERS
Sophia Hsieh
TSAR & TSAI LAW FIRM,
MEMBER OF LEX MUNDI

Jin-Fang Pun
CHEN, SHYUU & PUN
Lloyd Roberts
EIGER

Barbara Hsu
SDV LOGISTICS

Tanya Y
...
F
...
C
...
ELECTRICAL
CONSULTANT
Joan Jing
PRICEWATERHOUSECOOPERS
LEGAL

David Tsai
LEXCEL PARTNERS
Eric Tsai
PRICEWATERHOUSECOOPERS
LEGAL
Rita Tsai
APL
Felix Wang
YANGMING PARTNERS

Vivian Lee
HUANG & PARTNERS
Yu Lee
TAIPEI CITY GOVERNMENT
John Li
LCS & PARTNERS
Che-Wei Liang
JUDICIAL YUAN
Justin Liang
BAKER & MCKENZIE
Lawerence Liao
YANGMING PARTNERS
Jeffrey Lin
JOINT CREDIT INFORMATION
CENTER
Kien Lin
JOINT CREDIT INFORMATION
CENTER
Ming-Yen Lin
DEEP & FAR,
ATTORNEYS-AT-LAW

Sherzod Sodatkadamov
NAZRISHO & MIRZOEV LAW
FIRM LLC
Aliya Utegaliyeva
PWC KAZAKHSTAN
Abdurakhmon Yuldoshev
MINISTRY OF LABOR & SOCIAL
PROTECTION

George Mpeli Kilindu
REXATTORNEYS
Ali Mufuruki
INFOTECH INVESTMENT GROUP
Carolyne Muro
REXATTORNEYS
Shabani Mwatawala
PSM ARCHITECTS CO
...

Maningo Nassoro
PRIME MINISTER’S OFFICE
Raymond Ngatuni
REXATTORNEYS
Alex Thomas Nguluma
REXATTORNEYS
Cyril Pesha
CRB AFRICA LEGAL

Charles R
...
Rwechungura
CRB AFRICA LEGAL

Pei-Yu Wu
BAKER & MCKENZIE

Patrick Ache
MKONO & CO
...
Lin
HUANG & PARTNERS

Kang-Shen Liu
LEXCEL PARTNERS

Marina Shamilova
LEGAL CONSULTING GROUP

Nimrod Mkono
MKONO & CO
...
Mirzoev
NAZRISHO & MIRZOEV LAW
FIRM LLC

Lawrence Masha
ISHENGOMA, KARUME, MASHA &
MAGAI ADVOCATES

Shirinbek Milikbekov
COLIBRI LAW FIRM
Kamoliddin Mukhamedov
GRATA LAW FIRM

Ofotsu A
...
ADVOCATES

Said Athuman
TANZANIA REVENUE AUTHORITY
Magori Cosmas Magori
TRADE FACILITATION UNIT,
CUSTOMS

Pendo Shamte
CRB AFRICA LEGAL
Eve Hawa Sinare
REX CONSULTING LIMITED
Aisha Ally Sinda
MKONO & CO
...
ADVOCATES

Christopher Giattas
REXATTORNEYS

Regis Tissier
BOLLORÉ AFRICA LOGISTICS

Hanif Habib
HANIF HABIB & CO
...
ADVOCATES
Wilbert B
...
ADVOCATES
Mary Kwarteng
PWC TANZANIA
Adam Lovett
NORTON ROSE FULBRIGHT
Victoria Lyimo Makani
VELMA LAW
Siri A
...


Janist Aphornratana
PWC THAILAND
Chanakarn Boonyasith
SIAM CITY LAW OFFICES LTD
...

Sirijitt Choosak
SIAM CITY LAW OFFICES LTD
...
,
LTD
...
LTD
...


Panupas Likittanasombat
PWC THAILAND

Sutharm Valaisathien
INTERNATIONAL LEGAL
COUNSELLORS THAILAND
LIMITED (ILCT)

Sakchai Limsiripothong
WEERAWONG, CHINNAVAT &
PEANGPANOR LTD
...
LTD
...
Pornavalai
TILLEKE & GIBBINS
Kanya Pujjusamai
THAI CONTRACTORS
ASSOCIATION UNDER H
...
THE
KING’S PATRONAGE
Chinnavit Putanapibul
SIAM CITY LAW OFFICES LTD
...

Kaittipat Sonchareon
BANGKOK METROPOLITAN
ADMINISTRATION

Pattara Vasinwatanapong
VICKERY & WORACHAI LTD
...
Vickery Jr
...

Athicha Vuttiviroj
MAYER BROWN JSM
Wasantachai
Watanavongvisudhi
INTERNATIONAL LEGAL
COUNSELLORS THAILAND
LIMITED (ILCT)
Patcharaporn Wechayasopon
SIAM CITY LAW OFFICES LTD
...
Wongsaroj
CHANDLER & THONG-EK
Ahmet Yesilkaya
TILLEKE & GIBBINS
Somchai Yungkarn
CHANDLER & THONG-EK

TIMOR-LESTE
BANCO CENTRAL DE TIMORLESTE (BCTL)
MINISTRY OF FINANCE
Henrique Araujo Sobreira
MIRANDA CORREIA AMENDOEIRA
& ASSOCIADOS
Andreia Bento Simões
MIRANDA CORREIA AMENDOEIRA
& ASSOCIADOS
Luis Carvalho
ENGIPRO
Joel Castro de Abreu
CRA TIMOR
Catarina Cunha
MIRANDA CORREIA AMENDOEIRA
& ASSOCIADOS - SOCIEDADE DE
ADVOGADOS RL
Joana Custóias
MIRANDA CORREIA AMENDOEIRA
& ASSOCIADOS
Brigida da Silva
CUSTOMS, MINISTRY OF FINANCE
Anthony Frazier

Audray Souche
DFDL

João Galamba de Oliveira
WONG ALLIANCE

Picharn Sukparangsee
SIAM CITY LAW OFFICES LTD
...

Siripong Supakijjanusorn
PRICEWATERHOUSECOOPERS
LEGAL & TAX CONSULTANTS
LIMITED

Eusebio Guterres
UNIDO BUSINESS REGULATORY
CONSULTANT
Zeca Guterres
SDV LOGISTICS

Sodsruang Suvarnakuta
PWC THAILAND

Aaron Levine
ASIAN DEVELOPMENT BANK

Naddaporn Suwanvajukkasikij
LAWPLUS LTD
...

Akpoto-Kougblenou
STUDIO ALPHA A
...
C
...
Bakoh
AQUEREBURU AND PARTNERS
CABINET D’AVOCATS
Bassambie Bationo
BCEAO
Sockna Diaby
PWC CÔTE D’IVOIRE
Koffi Joseph Dogbevi
CABINET LUCREATIF
Komi Simon Dogbo
MAERSK LINE
Yvette A
...
Tu’ihalamaka
MINISTRY OF COMMERCE,
TOURISM AND LABOUR
Petunia Tupou
FUNGATEIKI LAW OFFICE
Lepaola B
...


Venance Père
LCA

TRINIDAD AND TOBAGO
PWC

Herinjiva Tahirisoa
Rakotonirina
CABINET JOHN W
...
, MEMBER OF BOWMAN
GILFILLAN AFRICA GROUP

REGULATED INDUSTRIES
COMMISSION

Sariaka Randrianarisoa
CABINET JOHN W
...
, MEMBER OF BOWMAN
GILFILLAN AFRICA GROUP
Moussa Sanogo
BCEAO
Diagne Souadou
BCEAO
Dominique Taty
PWC CÔTE D’IVOIRE
Inès Mazalo Tekpa
CABINET LUCREATIF

Christopher Alexander
PHOENIX LOGISTICS (TRINIDAD)
LTD
...
HAMEL-SMITH & CO
...
HAMEL-SMITH & CO
...
D
...


TONGA
RT
...
LORD DALGETY OF THE
ELECTRICITY COMMISSION
Delores Elliott
DATA BUREAU (TONGA) LIMITED
Taniela Fonna
KRAMER AUSENCO TONGA
Anthony Frazier
Taaniela Kula
MINISTRY OF LANDS, SURVEY,
NATURAL RESOURCES &
ENVIRONMENT
Fisilau Leone
ITS PACIFIC ENGINEERING
CONSULTANTS
James Lutui
CROWN LAW
Salesi Mataele
OCEANTRANZ TONGA LTD
...
Niu
LAKI NIU OFFICES
Jemma San Jose
ELECTRICITY COMMISSION
Daphney Stone
INLAND REVENUE TONGA
Tuipulotu Taufoou
DATELINE TRANS-AM SHIPPING

Glenn Hamel-Smith
M
...
,
MEMBER OF LEX MUNDI
Melissa Inglefield
M
...
,
MEMBER OF LEX MUNDI
Randall Karim
MINISTRY OF TRADE, INDUSTRY
AND INVESTMENT
Bijili Lalla
K
...
LALLA & COMPANY
Sunil Lalloo
LAWYER
Mariella Lange
HSMDT LTD
...

Marcia Leonard
THE FAST FREIGHT GROUP
Orrisha Maharajh
JOHNSON, CAMACHO & SINGH
Nassim Mohammed
ERNST & YOUNG
Sheldon Mycoo
SYNOVATIONS LIMITED
Marjorie Nunez
LEX CARIBBEAN
Kevin Nurse
JOHNSON, CAMACHO & SINGH

311

312

DOING BUSINESS 2015

Donna Phillips
BROKERAGE SOLUTION

Noureddine Ferchiou
FERCHIOU & ASSOCIÉS

Sonji Pierre Chase
JOHNSON, CAMACHO & SINGH

Slim Gargouri
CPA

Fanta Punch
M
...
,
MEMBER OF LEX MUNDI

Samah Ghrab
CAF JURIDIQUE ET FISCAL SARL

Alvin Ramsaran
TRINIDAD & TOBAGO
ELECTRICITY COMMISSION
Kelvin Ramsook
TRINIDAD & TOBAGO
ELECTRICITY COMMISSION
Myrna Robinson-Walters
M
...
,
MEMBER OF LEX MUNDI
Alice Salandy
GSAL DESIGNS LTD
...

Arun Seenath
DELOITTE
Nicholas Sinanan
JOHNSON, CAMACHO & SINGH
Neshan Singh
MINISTRY OF TRADE, INDUSTRY
AND INVESTMENT
Stephen A
...
HAMEL-SMITH & CO
...
İlayda Balkan
ADMD - MAVIOGLU & ALKAN
LAW OFFICE

Imen Nouira
CONSERVATION FONCIÈRE
TUNISIA

Naz Bandik Hatipoglu
ÇAKMAK AVUKATLIK BÜROSU

Olfa Othmane
BANQUE CENTRALE DE TUNISIE

Burçin Barlas
BARLAS LAW

Habiba Raouadi
CHAFTER RAOUADI LLP

Sedef Başcı
DEVRES LAW OFFICE

TUNISIA

Sahbi
SDV LOGISTICS

Erdem Basgul
ÇAKMAK AVUKATLIK BÜROSU

Adly Bellagha
ADLY BELLAGHA & ASSOCIATES

Borhene Tmar
PWC TUNISIA

Hend Ben Achour
ADLY BELLAGHA & ASSOCIATES

Rachid Tmar
CAF JURIDIQUE ET FISCAL SARL

Ayça Bayburan
ADMD - MAVIOGLU & ALKAN
LAW OFFICE

Wassim Ben Mahmoud
ARCHITECT

Wassim Turki
AWT AUDIT & CONSEIL

Amel Ben Rahal
BANQUE CENTRALE DE TUNISIE

Anis Wahabi
AWT AUDIT & CONSEIL

Dion Wilson
THE UNIVERSITY OF WEST
INDIES

Abdelfetah Benahji
FERCHIOU & ASSOCIÉS
Peter Bismuth
TUNISIE ELECTRO TECHNIQUE
Salaheddine Caid Essebsi
CAID ESSEBSI AND PARTNERS
LAW FIRM
Riadh Chabbout
ARCHITECT
Elyes Chafter
CHAFTER RAOUADI LLP
Zine el Abidine Chafter
CHAFTER RAOUADI LLP
Abdelmalek Dahmani
DAHMANI TRANSIT
INTERNATIONAL
Mohamed Derbel
BDO
Mohamed Lotfi El Ajeri
EL AJERI LAWYERS, PARTENAIRE
DE DS AVOCATS
Wafa Essayeh
PWC TUNISIA
Abderrahmen Fendri
PWC TUNISIA
Yessine Ferah
F&A LAW FIRM

TURKEY
ARMADA LTD
...

SOMAY HUKUK BÜROSU
Metin Abut
MOROGLU ARSEVEN
Erol Acun
ÖZAK TEKSTIL
Emre Akarkarasu
PWC TURKEY
Serdar Akinci
MINISTRY OF ECONOMY
Simge Akyüz
DEVRES LAW OFFICE
Inci Alaloglu
TABOGLU & DEMIRHAN
Mehmet Babür Alçi
MOROGLU ARSEVEN
Duygu Alkan
ADMD - MAVIOGLU & ALKAN
LAW OFFICE
Cansu Alparman
ADMD - MAVIOGLU & ALKAN
LAW OFFICE
Ekin Altıntaş
PWC TURKEY
Selin Barlin Aral
PAKSOY LAW FIRM

Meline Cilingir
BEZEN & PARTNERS
lsa Coşkun
MINISTRY OF FINANCE
Melandiz Dalyan
INLAWCO LAW FIRM
Yavuz Dayıoğlu
PRICEWATERHOUSECOOPERS
Orkun Deniz
KREDIT KAYIT BUREAU

Remzi Orkun Guner
ADMD - MAVIOGLU & ALKAN
LAW OFFICE
Burcu Guray
MOROGLU ARSEVEN
E
...
ŞTI
...


Alper Dönmez
ÖZAK TEKSTIL

Ibrahim Kara
KREDIT KAYIT BUREAU

Cumhur Dulger
PWC TURKEY

Nihat Karadirek
3E DANIŞMANLIK LTD
...


Dilara Duman
DUMAN LAW OFFICE

Çagil Karahasanoglu
MOROGLU ARSEVEN

Safa Mustafa Durakoğlu
ÇAKMAK AVUKATLIK BÜROSU

Faruk Kavak
CENTRAL BANK OF THE
REPUBLIC OF TURKEY

Özgür Ekinci
PWC TURKEY
Diler Emiroğlu
AYGÜN & ÖZTERZI LAW OFFICE

Betül Kencebay
TUYID - TURKISH IR SOCIETY
Burak Kepkep

Mehveş Erdem
CERRAHOĞLU LAW FIRM

Ekin Kiral
SARIIBRAHIMOĞLU LAW OFFICE

Türkan Bayraktar
PWC TURKEY

Gökben Erdem Dirican
PEKIN & PEKIN

Süleyman Kısaç
TURK TELEKOM

Harun Bayramoglu
ITKIB ISTANBUL TEXTILE
AND APPAREL EXPORTERS’
ASSOCIATION

Aycan Erdoğan
PWC TURKEY

Özlem Kızıl Voyvoda
ÇAKMAK AVUKATLIK BÜROSU

Onur Ergun
TABOGLU & DEMIRHAN

Fatih Koca

Nergis Beşiroğlu
CERRAHOĞLU LAW FIRM
Serdar Bezen
BEZEN & PARTNERS
Yeşim Bezen
BEZEN & PARTNERS
Ayşe Eda Biçer
ÇAKMAK AVUKATLIK BÜROSU
Nurettin Emre Bilginoğlu
ADMD - MAVIOGLU & ALKAN
LAW OFFICE
Yildirim Bozbiyik
Melis Buhan
PEKIN & PEKIN
Irfan Bumin
PERA CONSTRUCTION
İdil Çağal Kuyan
PRICEWATERHOUSECOOPERS
Cansu Caglar
PEKIN & PEKIN
Esin Çamlıbel
TURUNÇ LAW OFFICE
Maria Lianides Çelebi
BENER LAW OFFICE, MEMBER OF
IUS LABORIS
M
...
Çağrı Yıldız
ADMD - MAVIOGLU & ALKAN
LAW OFFICE

Ahmed Pekin
PEKIN & PEKIN

Bilge Yilmaz
ADMD - MAVIOGLU & ALKAN
LAW OFFICE

Batuhan Şahmay
BENER LAW OFFICE, MEMBER OF
IUS LABORIS

Murat Yülek
PGLOBAL GLOBAL ADVISORY
AND TRAINING SERVICES LTD
...


Serap Zuvin
SERAP ZUVIN LAW OFFICES

Sezil Simsek
PRICEWATERHOUSECOOPERS

UGANDA

Zafer Ertunç Sirin
ISTANBUL UNIVERSITESI
Ayse Ülkü Solak
MOROGLU ARSEVEN
Çağıl Sünbül
PRICEWATERHOUSECOOPERS
Semih Sütçü
SOLMAZ CUSTOMS BROKERAGE
& CONSULTANCY CO
...

Ürün Ülkü
ADMD - MAVIOGLU & ALKAN
LAW OFFICE
Furkan Ünal
AKTIF INVESTMENT BANK AS
Mustafa Ünal
ERYÜREKLI LAW OFFICE
Anil Uysal
TALAL ABU GHAZALEH LEGAL
(TAG-LEGAL)

Rose Mary Brenda Aeko
UGANDA ELECTRICITY
DISTRIBUTION
Daniel Angualia
ANGUALIA, BUSIKU & CO
...

ADVOCATES
Sarfaraz Jiwani
SEYANI BROTHERS & CO
...

Lwanga John Bosco
MARMA TECHNICAL SERVICES
MacDusman Kabega
TUMSIIME, KABEGA & CO
...

ADVOCATES
Francis Kamulegeya
PWC UGANDA
Ali Kankaka
KYAZZE, KANKAKA & CO
...

ADVOCATES

Ambrose Turyahabwe
DHL GLOBAL FORWARDING
(U) LTD
...

Albert Mukasa
KANDUHO & CO
...
MUKIIBI SENTAMU & CO
...

Plaxeda Namirimu
PWC UGANDA
Priscilla Namusikwe
SHONUBI, MUSOKE & CO
...
Alyoshin
VASIL KISIL & PARTNERS
Inna Antipova
CMS CAMERON MCKENNA
Leonid Antonenko
SAYENKO KHARENKO
Andrey Astapov
ASTAPOV LAWYERS
INTERNATIONAL LAW GROUP
Anna Babych
VASIL KISIL & PARTNERS
Ron J
...

ADVOCATES

Taras Chernikov
EGOROV PUGINSKY AFANASIEV &
PARTNERS

Charles Odere
LEX UGANDA ADVOCATES &
SOLICITORS

Luliia Chervonooka
VASIL KISIL & PARTNERS

William Okello
Busiku Peter
ANGUALIA, BUSIKU & CO
...


Pavlo Liaskovskyi
PETERKA & PARTNERS

Aleksandr Deputat
ELIT GROUP

Maksym Libanov
NATIONAL SECURITIES AND
STOCK MARKET COMMISSION

Benedict Sekabira
BANK OF UGANDA

Nadiia Dmytrenko
EGOROV PUGINSKY AFANASIEV &
PARTNERS

Monica Kisubi Senjako
SDV TRANSAMI

Olga Dubanevych
KPMG

Artem Lukyanov
CMS CAMERON MCKENNA

Alan Shonubi
SHONUBI, MUSOKE & CO
...
CONSULT, LLC

Oleg Matiusha
DLA PIPER UKRAINE LLC

Oleksandr Fomenko
KYIVENERGO

Arsenyy Milyutin
EGOROV PUGINSKY AFANASIEV &
PARTNERS

Phillip Karugaba
MMAKS ADVOCATES

Charles Lwanga Ssemanda
MUKWANO GROUP OF
COMPANIES

David Katende
ENVIROKAD

Winifred Tarinyeba Kiryabwire
MAKERERE UNIVERSITY

Didymus Byenkya Kato
GLOBAL AVIATION LOGISTICS
LTD
...
M
...


Ivan Nikolaevich Gelyukh
KIEVENERGO
Leonid Gilevich
ILYASHEV & PARTNERS

Olga Lubiv
KPMG

Svitlana Musienko
DLA PIPER UKRAINE LLC
Adam Mycyk
DENTONS

313

314

DOING BUSINESS 2015

Nataliya Mykolska
SAYENKO KHARENKO

Anna Vlasiuk
ASTERS

Artem Naumov
INYURPOLIS LAW FIRM

Slava Vlasov
PWC UKRAINE

Aleksandra Odynets
GRISCHENKO & PARTNERS

Yuriy Volovnik
EGOROV PUGINSKY AFANASIEV &
PARTNERS

Olexander Olshansky
SAYENKO KHARENKO
Oksana Orlova
DENTONS
Oleksandr Padalka
ASTERS
Konstantin Pilkov
CAI & LENARD
Yuliana Revyuk
KPMG
Anatolii Rybak-Sikorskiy
KPMG
Dmytro Rylovnikov
DLA PIPER UKRAINE LLC
Vadym Samoilenko
ASTERS
Maryana Sayenko
ASTERS
Viktor Semenyuta
KIEVENERGO
Olga Serbul
LAW FIRM IP & C
...
CONSULT, LLC
Anna Yarenko
ASTAPOV LAWYERS
INTERNATIONAL LAW GROUP
Yulia Yashenkova
ASTAPOV LAWYERS
INTERNATIONAL LAW GROUP
Aleksandra Yevstafyeva
EGOROV PUGINSKY AFANASIEV &
PARTNERS
Tatiana Zamorska
KPMG
Anton Zinchuk
INYURPOLIS LAW FIRM

UNITED ARAB EMIRATES
Qurashi Alsheikh Abdulghani
Qurashi
DUBAI MUNICIPALITY
Farid Ahmadi
NATIONAL TRADING AND
DEVELOPMENT EST
...
Zeeshan Ahmed
ARBROS FOREST RESOURCES
Makhdoom Ahmed
VERACOR PRINTING PRESS LLC
Yakud Ahmed
ORCHID GULF
Kiran Ahuja
UNILEVER UAE

Elmugtaba Bannaga
BIN SUWAIDAN ADVOCATES &
LEGAL CONSULTANTS

Firdosh Irani
QATAR NAVIGATION LOGISTICS
CO
...

James Bowden
AFRIDI & ANGELL, MEMBER OF
LEX MUNDI
R
...


Vipul Kothari
KOTHARI AUDITORS &
ACCOUNTANTS

Shahram Safai
AFRIDI & ANGELL, MEMBER OF
LEX MUNDI

Ravi Kumar
DUBAI TRADE

Mohammed Ahmed Saleh
DUBAI MUNICIPALITY

Senthil Kumar
GLG SHIPPING

Khalid Mohamed Saleh Al
Mulla
DUBAI MUNICIPALITY

Obaid Saif Atiq Al Falasi
DUBAI ELECTRICITY AND WATER
AUTHORITY

Shirish Deshpande
ARABIAN AUTOMOBILES

Alya Hussain Al Hammadi
DUBAI TRADE

Karim El Gebaily
TALAL ABU GHAZALEH LEGAL
(TAG-LEGAL)

Ibrahim Al Hosani
DUBAI COURTS

Mohammed El Ghul
HABIB AL MULLA & CO
...
B
...

Omar Ziyad Hadi
AFRIDI & ANGELL, MEMBER OF
LEX MUNDI

Zakhar Tropin
PROXEN & PARTNERS

Adite Aloke
AFRIDI & ANGELL, MEMBER OF
LEX MUNDI

Valeriia Tryfonova
VASIL KISIL & PARTNERS

Mohammed AlSuboosi
DUBAI COURTS

Mariia Tsarova
ASTERS

Yousef Al-Suwaidi
DUBAI COURTS

Sydene Helwick
AL TAMIMI & COMPANY
ADVOCATES & LEGAL
CONSULTANTS

Andriy Tsvyetkov
GESTORS

Wicki Andersen
BAKER BOTTS LLP

Ashiq Hussain
DUBAI TRADE

Ruslan Tumanyan
GLOBALINK TRANSPORTATION &
LOGISTICS WORLDWIDE LLP

Syed Qaiser Anis
ALLIOTT HADI SHAHID

Mustafa Ibrahim
MONAWALAT AL KHALEEJ
LOGISTICS

Oleg Tymkiv
PWC UKRAINE

Samantha Kelsey
BAKER BOTTS LLP

Afzal Patanwala
EASA SALEH AL GURG GROUP

Jochem Rossel
PWC UNITED ARAB EMIRATES

Krishna Das
CEVA LOGISTICS

Manavalan Arumugam
EROS GROUP

Mohammad Z
...
LLC

Lisa Dale
AL TAMIMI & COMPANY
ADVOCATES & LEGAL
CONSULTANTS

Sajid Ali
TRANS WORLD SHIPPING
SERVICES LLC

Omar Kalaji
TROWERS & HAMLINS LLP

Cathy Ninen
AMI MIDDLE EAST

Waseem Khokhar
PWC UNITED ARAB EMIRATES

Sultan Al Akraf
DUBAI LAND DEPARTMENT

Saeed Al-Hamiz
CENTRAL BANK OF THE UNITED
ARAB EMIRATES

Viji John
FREIGHT SYSTEMS

Ghazanfar Ali Nazir
DP WORLD

Samer Hamzeh
TROWERS & HAMLINS LLP

Mohamed Ifthikar Jamaldeen
KUEHNE + NAGEL LLC

John Kunjappan
MAERSK KANOO LLC
Ashraf Kunjimoidu
AL YOUSUF ELECTRONICS
Charles S
...

APL EMIRATES LLC
A
...
LLC

Khurram Shahzad
PANALPINA GULF

Joanna Matthews-Taylor
DLA PIPER MIDDLE EAST LLP

Hassan Shakrouf
HYDER CONSULTING

Salim Mohammed
KABULTEX

Vivek Sharma
PIL (U
...
E) LLC

Tarig Monim
STRATEGY CONSULTANTS

Vasant Shetty
RAIS HASSAN SAADI LLC

Roland Monteath
AGILITY GLOBAL LOGISTICS

Ishita Shome
AFRIDI & ANGELL, MEMBER OF
LEX MUNDI

Badih Moukarzel
HUQOOQ LEGAL PRACTICE
Kumar Nair
DP WORLD
Senthil Nathan
FREIGHT SYSTEMS

Arvind Sinha
RCS PVT
...
BUSINESS
ADVISORS GROUP
Shekhar Sinha
RAIS HASSAN SAADI LLC

ACKNOWLEDGMENTS

Sreekumar Sivasankaran
GLOBELINK WEST STAR
SHIPPING LLC
Johnson Soans
EXTRON ELECTRONICS M
...

Jayanthi Suseelan
MAERSK KANOO LLC
Taha Tawawala
AL SUWAIDI & COMPANY
Hamad Thani Mutar
DUBAI COURTS
Sebastian Thomas
ZAFCO
Yusuf Timalia
CP WORLD LLC
Nitin Tirath
DUBAI TRADE
Baher Yousef
ENGINEERING CONSULTANTS
GROUP (ECG)
Natasha Zahid
BAKER BOTTS LLP

UNITED KINGDOM
HMRC

Shahid Jamil
LATHAM & WATKINS LLP

Arun Pontin
OFGEM

Steven Clark
CLARK FIRM PLLC

Charles L
...
Ditelberg
SEYFARTH SHAW LLP

Arthur Kohn
CLEARY GOTTLIEB STEEN &
HAMILTON LLP

Pascal Lalande
HER MAJESTY’S LAND REGISTRY

Aimee Saunders
BAKER & MCKENZIE

Sinead Lawrence
CBI - THE CONFEDERATION OF
BRITISH INDUSTRY

Thilo Schneider
PINSENT MASONS LLP

Catherine Ledger
BAA AIRPORTS LIMITED
Alasdair Lewis
HER MAJESTY’S LAND REGISTRY
Zoe Lomax
DLA PIPER UK LLP

Paul Bagon
WEIL, GOTSHAL & MANGES LLP

Malin Lundin
LUBBOCK FINE - MEMBER
OF RUSSELL BEDFORD
INTERNATIONAL

Ji-Whan Bang
DLA PIPER UK LLP

Neil Maclean
SHEPHERD & WEDDERBURN

Lesley Batchelor
INSTITUTE OF EXPORT

Neil Magrath
UK POWER NETWORKS

Marie Batchelor
BIRKETTS LLP

Christopher Mallon
SKADDEN, ARPS, SLATE,
MEAGHER & FLOM LLP

Kacey Brown
BAKER & MCKENZIE
Michael Canvin
CROWN AGENTS LTD
...

Sandra Simoni
DEPARTMENT FOR COMMUNITIES
AND LOCAL GOVERNMENT
Mike Smith
MORRISON UTILITY
CONNECTIONS
Susanna Strandell
DEPARTMENT FOR COMMUNITIES
AND LOCAL GOVERNMENT
Paul Timmins
APPROVED INSPECTOR SERVICES
LIMITED
Dhanshuklal Vekaria
PINSENT MASONS LLP
Tony Walpole

Aliss Mansfield
BAKER & MCKENZIE

Christopher Wigley
LONDON BUILDING CONTROL
LTD
...

Deborah Newton
THE ROYAL BANK OF SCOTLAND
Kevin Nicholson
PWC UNITED KINGDOM
Genna Oakes
PINSENT MASONS LLP
Frances Okosi
BAKER & MCKENZIE
Steve Parker
DHL GLOBAL FORWARDING
William Paterson
CROWN AGENTS LTD
...

Steve Pocock
CROWN AGENTS LTD
...

Patrick Fuller
CLEARY GOTTLIEB STEEN &
HAMILTON LLP

Jaswant S
...
GILL CPA
PROFESSIONAL CORPORATION
Robert Goethe
CORNELL GROUP, INC
...
GORDON AND
ASSOCIATES
William Gould
TROYGOULD PC
Boris Grosman
L & B ELECTRICAL
INTERNATIONAL
Joseph Gulino
DIAZ REUS & TARG LLP
Sonya H
...
Lee
CLEARY GOTTLIEB STEEN &
HAMILTON LLP
Tony Hadley
EXPERIAN
Thomas Halket
HALKET WEITZ LLP

Arley M
...
Barefoot
CLEARY GOTTLIEB STEEN &
HAMILTON LLP

Sanford Hillsberg
TROYGOULD PC

Sheri P
...
Lewitt
CBRE

Samuel L
...
LTD
...
S
...


Joel A
...
Livingston
SEYFARTH SHAW LLP

Timi Anyon Hallem
MANATT, PHELPS & PHILLIPS,
LLP

Eve Brackmann
STUART KANE

Jen Leary
CLIFTONLARSONALLEN

Lauren Gans
PEITZMAN WEG LLP

Manish Antani
GOULD & RATNER LLP

Thierry Blangy
SDV LOGISTICS

John LaBar
HNERY, MCCORD, BEAN, MILLER,
GABRIEL & LABAR, PLLC

Mark Hirzel
LOS ANGELES CUSTOMS
BROKERS & FREIGHT
FORWARDERS ASSOCIATION INC
...

ISRAEL
Nicole Jadelrab
BLAQK DIAMOND GROUP
Christopher Andrew Jarvinen
BERGER SINGERMAN

Jim MacLellan
THE PORT OF LOS ANGELES
A Edward Major
A EDWARD MAJOR,
COUNSELLORS-AT-LAW
Haggai Mazler
LOS ANGELES DEPARTMENT OF
BUILDING SAFETY
Kevin McDonnell
JEFFER MANGELS BUTLER &
MITCHELL LLP (JMBM)
Todd McLawhorn
MCLAWHORN LAW OFFICES PC
Alene McMahon
CROWN AGENTS LTD
...
Murray
PWC UNITED STATES
David Newberg
COLLIER, HALPERN, NEWBERG,
NOLLETTI, & BOCK
Christopher O’Connell
PARKER, MILLIKEN, CLARK,
O’HARA & SAMUELIAN
Malhar Pagay
PACHULSKI STANG ZIEHL &
JONES LLP
Darrell Pierce
DYKEMA
Shanen Prout
BLY LAW, PC
Angela Reimer
DIAZ REUS & TARG LLP
Jonathan Reinstein
CLEARY GOTTLIEB STEEN &
HAMILTON LLP
Alexander Reus
DIAZ REUS & TARG LLP
Sandra Rocks
CLEARY GOTTLIEB STEEN &
HAMILTON LLP
Kenneth Rosen
UNIVERSITY OF ALABAMA
SCHOOL OF LAW
Joshua Roy
MORRISON & FOERSTER LLP
James Rusin
UPS SUPPLY CHAIN SOLUTIONS

315

316

DOING BUSINESS 2015

George Saadian
FIRE PROTECTION GROUP INC
...

William Shawn
SHAWNCOULSON LLP
Manjosh Sidhu
MS CONSULTING LLC
Joseph Tannous
JT CONSTRUCTION
Michael Temin
FOX ROTHSCHILD LLP
Magda Theodate
GLOBAL EXECUTIVE LIFE
COACHING
Steve Thomas
CROWN AGENTS LTD
...

Robert Wallace
STUART KANE
Seth Weissman
JEFFER MANGELS BUTLER &
MITCHELL LLP (JMBM)
Shannon Williams
CROWN AGENTS LTD
...
MEZZERA
Pablo F
...
Altuve Jr
...
ALTUVE R
...


Arturo De Sola Lander
DE SOLA PATE & BROWN,
ABOGADOS - CONSULTORES

Loïc Bernier
CAILLARD & KADDOUR

Carlos Domínguez Hernández
HOET PELAEZ CASTILLO &
DUQUE

Vlada Burlachenko
INTERLINK GLOBAL SERVICES
Peter Burnie
PWC KAZAKHSTAN
Kariev Alimdjon
Davrondjonovich
TASHKENT COMMERCIAL COURT
Nelly Djurabaeva
M&M MILITZER & MÜNCH

Nail Hassanov
LEGES ADVOKAT LAW FIRM

Luis Burastero Servetto
LUIS BURASTERO & ASOC
...
A
...


GLOBALINK LOGISTICS GROUP

Marcela Hughes
HUGHES & HUGHES

Matilde Milicevic Santana
EQUIFAX - CLEARING DE
INFORMES

Augusto Cibils
PWC URUGUAY

CHAMBER OF COMMERCE &
INDUSTRY

Zafar Malikov
COLIBRI LAW FIRM

Evgeniya Indina
KRESTON TASHKENT
Nizamiddin Kadirov
NATIONAL INSTITUTE OF
CREDIT INFORMATION (NICI)
OF THE CENTRAL BANK OF THE
REPUBLIC OF UZBEKISTAN

Paul de Montgolfier
CABINET AJC, AN INDEPENDENT
CORRESPONDENT MEMBER OF
DFK INTERNATIONAL

Maria Gabriela Galavis
HOET PELAEZ CASTILLO &
DUQUE

Frederic Derousseau
VATE ELECTRICS

Jose Garcia
PWC VENEZUELA

Delores Elliott
DATA BUREAU (VANUATU)
LIMITED

Lynne H
...

Colin B
...


Lorena Mingarelli Lozzi
DE SOLA PATE & BROWN,
ABOGADOS - CONSULTORES

Harold Qualao
QUALAO CONSULTING LTD
...
Pate
DE SOLA PATE & BROWN,
ABOGADOS - CONSULTORES

Le Hong Phong
BIZCONSULT LAW FIRM

Margie Pirela
PWC VENEZUELA
Bernardo Pisani
RODRIGUEZ & MENDOZA
Eduardo Porcarelli
CONAPRI
Juan Carlos Pró-Rísquez
DESPACHO DE ABOGADOS
MIEMBROS DE NORTON ROSE
FULBRIGHT SC
Melissa Puga Santaella
CONAPRI
Aaron Quintero
DESPACHO DE ABOGADOS
MIEMBROS DE NORTON ROSE
FULBRIGHT SC
José Alberto Ramirez
HOET PELAEZ CASTILLO &
DUQUE
Pedro Saghy
DESPACHO DE ABOGADOS
MIEMBROS DE NORTON ROSE
FULBRIGHT SC
Laura Silva Aparicio
HOET PELAEZ CASTILLO &
DUQUE
Oscar Ignacio Torres
TRAVIESO EVANS ARRIA RENGEL
& PAZ
John Tucker
HOET PELAEZ CASTILLO &
DUQUE
Felipe Urdaneta
DATACRÉDITO - EXPERIAN
VENEZUELA
Carlos Velandia Sanchez
ASOCIACIÓN VENEZOLANA DE
DERECHO REGISTRAL (AVEDER)
José Vivas
LAWYER

VIETNAM
PANALPINA WORLD TRANSPORT
LLP
Samantha Campbell
GIDE LOYRETTE NOUEL, MEMBER
OF LEX MUNDI
Giles Thomas Cooper
DUANE MORRIS LLC
Nhung Dang
LVN & ASSOCIATES
Phuong Dzung Dang
VISION & ASSOCIATES
Nguyen Dang Viet
BIZCONSULT LAW FIRM
Thuy Linh Do
KTC ASSURANCE & BUSINESS
ADVISORS - MEMBER
OF RUSSELL BEDFORD
INTERNATIONAL
Linh Doan
LVN & ASSOCIATES
Dang The Duc
INDOCHINE COUNSEL
Thanh Long Duong
ALIAT LEGAL
Lien Duong Hong
PWC VIETNAM
David Fitzgerald
PWC VIETNAM
Giang Ha Thi Phuong
PWC VIETNAM

Tran Quang Huy
VILAF LAW FIRM
Dai Thang Huynh
DFDL
Tuong Long Huynh
GIDE LOYRETTE NOUEL, MEMBER
OF LEX MUNDI
Jean Claude Junin
SDV LOGISTICS
Hai Long Khuat
INDOCHINE COUNSEL
Milton Lawson
FRESHFIELDS BRUCKHAUS
DERINGER
Anh Tuan Le
CREDIT INFORMATION CENTRE STATE BANK OF VIETNAM
Nguyen Huy Thuy Le
INDOCHINE COUNSEL
Uyen Le Thi Canh
LUATVIET - ADVOCATES &
SOLICITORS
Nhan Lee
DUANE MORRIS LLC
Le Thi Loc
YKVN
Tien Ngoc Luu
VISION & ASSOCIATES
Le Thi Luyen
HO CHI MINH CITY POWER
CORPORATION (EVN HCMC)
Hoang Minh Duc
DUANE MORRIS LLC
Tung Ngo Thanh
VILAF LAW FIRM
Ngoc Bui Ngoc
DS AVOCATS
Nguyen Ngoc Oanh
INDOCHINE COUNSEL
Hoang Anh Nguyen
MAYER BROWN LLP
Hoang Kim Oanh Nguyen
BAKER & MCKENZIE
Khanh Ly Nguyen
KTC ASSURANCE & BUSINESS
ADVISORS - MEMBER
OF RUSSELL BEDFORD
INTERNATIONAL
Lan Phuong Nguyen
VIETNAM CREDIT INFORMATION
JSC (PCB)
Linh D
...

Mui Nguyen
WEISS-ROHLIG VIETNAM
Ngoc Duc Nguyen
VIETNAM CREDIT INFORMATION
JSC (PCB)
Phong Nguyen
GIDE LOYRETTE NOUEL, MEMBER
OF LEX MUNDI
Quoc Phong Nguyen
ALIAT LEGAL
Quynh Hoa Nguyen
DFDL
Thanh Hai Nguyen
BAKER & MCKENZIE

Trang Nguyen
CREDIT INFORMATION CENTRE STATE BANK OF VIETNAM
Tram Nguyen Huyen
GIDE LOYRETTE NOUEL, MEMBER
OF LEX MUNDI
Trang Nguyen Kim
INDOCHINE COUNSEL
Hung Duy Pham
KTC ASSURANCE & BUSINESS
ADVISORS - MEMBER
OF RUSSELL BEDFORD
INTERNATIONAL
Viet D
...
Al-Zubi
AL-ZUBI LAW OFFICE

Hanna Atrash
AEG
Firas Attereh
HUSSAM ATTEREH GROUP FOR
LEGAL SERVICES
Amjad Badran
USAID WEST BANK AND GAZA
Andrew W
...
LTD
...
Husseini
HUSSEINI & HUSSEINI
Amjad Issa
PALESTINE INVESTMENT
PROMOTION AGENCY
Hussein Jaloudi
MINISTRY OF FINANCE
Bilal Kamal
ITTQAN ATTORNEYS-AT-LAW
Rasem Kamal
KAMAL & ASSOCIATES
- ATTORNEYS AND
COUNSELLORS-AT-LAW
Mohamed Khader
LAUSANNE TRADING
CONSULTANTS
Tony H
...
F
...
SHEHADEH LAW OFFICE
Hisham Omari
JERUSALEM DISTRICT
ELECTRICITY CO
...

Raed Rajab
INVESTMENT CLIMATE
IMPROVEMENT PROJECT
Samir Sahhar
HLB SAMIR B
...
F
...
SHEHADEH LAW OFFICE
Nadeem Shehadeh
A
...
& R
...

CENTRAL BANK OF YEMEN

Thaer Amro
AMRO & ASSOCIATES LAW
OFFICE

Qusai Abdalla
ABDALLA AL-MEQBELI &
ASSOCIATES

SAS FOR CARGO SERVICES

Khalid Abdullah
SHEIKH MOHAMMED ABDULLAH
SONS (EST
...

Abdulkader Al-Hebshi
ADVOCACY AND LEGAL
CONSULTATIONS OFFICE (ALCO)
Ali Al-Hebshi
ADVOCACY AND LEGAL
CONSULTATIONS OFFICE (ALCO)
Maher Alkladi
LAW OFFICES OF SHEIKH TARIQ
ABDULLAH
Abdalla Al-Meqbeli
ABDALLA AL-MEQBELI &
ASSOCIATES
Ameen Al-Rabeei
SAWSIA ORGANIZATION
Qais Alsanabani
Q&A LAW OFFICE
Anis Ebrahim
Esam Nadeesh
ADVOCACY AND LEGAL
CONSULTATIONS OFFICE (ALCO)
Saeed Sohbi
SAEED HASSAN SOHBI
Khaled Hassan Zaid
YEMEN CHAMBER OF SHIPPING

ZAMBIA
ENERGY MANAGEMENT SERVICES
Azizhusein Adam
AD ADAMS & CO
...

Dickson Bwalya
LISULO + BWALYA
Mwelwa Chibesakunda
CHIBESAKUNDA & COMPANY,
MEMBER OF DLA PIPER GROUP
Sydney Chisenga
CORPUS LEGAL PRACTITIONERS
Vishal Joshi
SWIFT FREIGHT INTERNATIONAL
LTD
...
Kasonde
ENVIRONMENTAL COUNCIL OF
ZAMBIA
Walusiku Lisulo
LISULO + BWALYA
Johan Lombaard
MANICA AFRICA PTY
...


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318

DOING BUSINESS 2015

Mumba Makumba
PACRA

Daniel Garwe
PLANET

Sylvester Mashamba
NATIONAL COUNCIL FOR
CONSTRUCTION

R
...
Katsande
ZIMBABWE ELECTRICITY
TRANSMISSION & DISTRIBUTION
COMPANY

Bonaventure Mbewe
BARCLAYS BANK
Chosani Mbewe
PWC ZAMBIA
Harriet Mdala
MUSA DUDHIA & COMPANY
Jyoti Mistry
PWC ZAMBIA
Mwape Mondoloka
BARCLAYS BANK
Mutule Museba
CORPUS LEGAL PRACTITIONERS
Henry Musonda
KIRAN & MUSONDA ASSOCIATES
Lloyd Musonda
PACRA
Francis Mwape
NATIONAL COUNCIL FOR
CONSTRUCTION
Nchima Nchito
NCHITO AND NCHITO
ADVOCATES
Kanti Patel
CHRISTOPHER RUSSELL COOK
& CO
...

Rodwyn Peterson
CHIBESAKUNDA & COMPANY,
MEMBER OF DLA PIPER GROUP
John Serlemitsos
PLATINUM GOLD EQUITY
Valerie Sesia
CUSTOMIZED CLEARING AND
FORWARDING LTD
...
Sichilongo
ZAMBIA DEVELOPMENT AGENCY
Mildred Stephenson
CREDIT REFERENCE BUREAU
AFRICA LTD
...
LTD
...
LTD
...
ATTORNEYS
Farayi Dyirakumunda
EXPERT DECISION SYSTEMS
ZIMBABWE
Paul Fraser
LOFTY & FRASER

Abraham Kudzai Maguchu
DUBE, MANIKAI AND HWACHA
LEGAL PRACTITIONERS - DMH
COMMERCIAL LAW CHAMBERS
Peter Lloyd
GILL, GODLONTON & GERRANS
Manuel Lopes
PWC ZIMBABWE
Memory Mafo
SCANLEN & HOLDERNESS
Faro Mahere
GILL, GODLONTON & GERRANS
Rita Makarau
HIGH COURT ZIMBABWE
Zanudeen Makorie
COGHLAN, WELSH & GUEST
Chris Masimu
DIVINE FREIGHT
Thembiwe Mazingi
COGHLAN, WELSH & GUEST
Lloyd Mhishi
MHISHI LEGAL PRACTICE
H
...
Mkushi
SAWYER & MKUSHI
T
...
LTD
...
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