Bahamas, The

Ease of Doing Business in

Bahamas, The

This page summarizes Doing Business 2016 data for the Bahamas. The first section presents the Ease of Doing Business rank (out of 189 economies) and the distance to frontier (DTF)** measure, overall and by topic. The second section summarizes the key indicators for each topic benchmarked against regional averages.

Economy Overview

 
Region Latin America & Caribbean
Income Category High income
Population 382,571
GNI Per Capita (US$) 21,010
City covered Nassau
Doing Business 2016 Rank Doing Business 2015 Rank
X

DOING BUSINESS 2015 RANK

Last year's rankings are adjusted. They are based on 10 topics and reflect data corrections.

Change in Rank
106 108 down 2

Doing Business 2016 DTF (% points)
X

DISTANCE TO FRONTIER SCORE

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 measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

Doing Business 2015 DTF (% points)
X

DISTANCE TO FRONTIER SCORE

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 measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

Change in DTF (% points)
X

DISTANCE TO FRONTIER SCORE

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 measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

59.00 57.77 down 1.23
Positive=Doing Business reform making it easier to do business. Negative=Change making it more difficult to do business.

Starting a Business

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Starting a Business

The steps of launching a business are shown below. Included are: the number of procedures entrepreneurs can expect to go through 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 as a percentage of gross national income (GNI) per capita.

DB 2016 Rank 118 DB 2015 Rank
X

DOING BUSINESS 2015 RANK

Last year's rankings are adjusted. They are based on 10 topics and reflect data corrections.

96 Change in Rank down-22
DB 2016 DTF (% points)
X

DISTANCE TO FRONTIER SCORE

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 measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

81.31 DB 2015 DTF (% points)
X

DISTANCE TO FRONTIER SCORE

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 measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

84.12 Change in DTF (% points)
X

DISTANCE TO FRONTIER SCORE

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 measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

down-2.81

Information on new business density and number of newly created firms with limited liability can be found at Entrepreneurship Database.

Indicator Bahamas, The Latin America & Caribbean OECD high income
Procedures (number)
X

Procedures (number)

The total number of procedures required to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries).

View methodology

8 8.3 4.7
Time (days)
X

Time (days)

The total number of days required to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments.

View methodology

28.5 29.4 8.3
Cost (% of income per capita)
X

Cost (% of income per capita)

Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law.

View methodology

10.9 31.0 3.2
Paid-in min. capital (% of income per capita)
X

Paid-in min. capital (% of income per capita)

The amount that the entrepreneur needs to deposit in a bank or with a notary before registration and up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita.

View methodology

0.0 2.8 9.6
No. Procedure Time to Complete Associated Costs
1 Search for a company name and reserve the proposed name online Less than one day (online procedure) no charge
2 A lawyer prepares and notarizes the company documents (memorandum and articles of association) 1 day on average Usually about USD 650 (USD 100 to public treasury + USD 550 register of company)
3 Stamp duty on the memorandum paid to the Public Treasury 1 day USD 100 stamp duty is payable on the first USD 5,000 authorized capital of the company and USD 5 for every additional USD 1,000 authorized capital
4 File the company documents at the Companies Registry 10 days USD 300 for the memorandum + USD 30 for the articles of association + USD 4 (per page) for a copy of the memorandum and the articles (copies made at the Registry cost USD 10 for the first ten pages and USD 4 (per page) thereafter)
5 Obtain the National Insurance Number from the National Insurance Board 1 day no charge
6 Register the company for a business license at the Valuation/Business License Department of the Ministry of Finance 10 days USD 100 (flat fee)
7 Register for Tax Identification Number for Value Added Tax 5 days no charge
* 8 Obtain a company seal 2 days on average (simultaneous with previous procedure) USD 35
  * Takes place simultaneously with another procedure.

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