Starting a business is never easy. But the process of registering a company is much more difficult and time consuming in some countries around the world than in others.
In New York, New York, it takes about four days to register a business; in Sao Paulo, Brazil, it takes 101 days, according to the World Bank’s annual report on doing business.
The organization measured the median time, in days, required to register a company in countries around the globe in 2015, based on information from incorporation lawyers.
In some regions, new reforms made it easier to get businesses up-and-running, the Economist noted. The report found that 45 countries introduced reforms in the past year to help entrepreneurs get started.
Azerbaijan, where it takes three days to register a company, stopped requiring a company seal, while the former Yugoslav Republic of Macedonia, Mongolia and Sweden all reduced the time required to register a business.
Venezuela, on the other hand, raised incorporation taxes, making to more difficult to start a business.