Ease of Doing Business in


This page summarizes Doing Business 2014 data for Barbados. The first table lists the overall "Ease of Doing Business" rank (out of 189 economies) and the rankings by each topic. It also lists the economy's distance to frontier (DTF)** measure. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

Economy Overview

Region Latin America & Caribbean
Income Category High income
Population 283,221
GNI Per Capita (US$) 16,152
City covered Bridgetown
Doing Business 2014 Rank Doing Business 2013 Rank*** Change in Rank
91 84 down -7

Doing Business 2014 DTF** (% points) Doing Business 2013 DTF** (% points) Change in DTF** (% points)
60.93 60.94 down -0.01

Starting a Business


The challenges of launching a business are shown below. Included are: the number of steps entrepreneurs can expect to go through to launch, the time it takes on average, and the cost and minimum capital required as a percentage of gross national income (GNI) per capita.

DB 2014 Rank 77 DB 2013 Rank*** 69 Change in Rank down-8
DB 2014 DTF** (% points) 82.81 DB 2013 DTF** (% points) 82.81 Change in DTF** (% points) 0.00

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

Indicator Barbados Latin America & Caribbean OECD

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).

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Procedures (number)
8 9 5

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.

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Time (days)
18.0 36.1 11.1

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.

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Cost (% of income per capita)
7.2 33.1 3.6

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.

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Paid-in Min. Capital (% of income per capita)
0.0 3.6 10.4
No. Procedure Time to Complete Associated Costs
1 Submit Request for Name Search and Name Reservation form to the Corporate Affairs and Intellectual Property office to reserve company name 2 days BDS 30 ($25 for reserving the name + $5 for electronic search)
2 Draft articles of incorporation 2 days BDS 1500
3 Submit application for business registration 1 - 2 weeks included in procedure 4
* 4 Pay the registration fees 1 day (simultaneous with procedure 3) BDS 750
5 Register with the Inland Revenue Department for income tax payment 2 days no charge
* 6 Register with the VAT division of the Customs and Excise Department 2 days (simultaneous with previous procedure) no charge
* 7 Register with the National Insurance Scheme 1 day (simultaneous with previous procedure) no charge
* 8 Make company seal 1 day (simultaneous with previous procedure) BDS 60
* Takes place simultaneously with another procedure.

** The distance to frontier (DTF) measure shows the distance of each economy to the "frontier," which represents the highest performance observed on each of the topics including Getting Electricity across all economies included in Doing Business. An economy’s distance to frontier is indicated on a scale from 0 to 100, where 0 represents the lowest performance and 100 the frontier. Read more...

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

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