Doing Business in New Zealand is Easy

October 26, 2012 New Zealand FinanceNew Zealand Taxation

New ZealandNew Zealand has once again been ranked as one of the easiest countries in which to do business, and is the jurisdiction with the quickest company formation period in the world.

In the Doing Business 2013 report jointly released by the World Bank and the International Finance Corporation on October 23rd, New Zealand was ranked third in the “ease of doing business” index.

In the report New Zealand was regarded as the country with the easiest regulations for starting a new business, with only one procedure to complete, which takes only one day, compared to the OECD averages of 5 procedures over the course of 12 days.

New Zealand is also ranked as the country with the best rules for the protection of investors, having the highest possible index scores for extent of disclosure, shareholder suits, and the extent of director liability.

New Zealand was also considered to be the second best jurisdiction for registering property, with the two process necessary to register a property taking a total of two days and costing approximately 0.1 percent of the average value of the property.

New Zealand was also ranked 4th and 6th for getting credit and working with construction permits.

In regards to resolving insolvency, enforcing contracts, paying taxes, working across borders and getting electricity, New Zealand was ranked 13th, 17th, 21st, 25th and 32nd respectively.

Photo by Dooooogie