Equatorial Guinea

Ease of Doing Business in

Equatorial Guinea

This page summarizes Doing Business 2014 data for Equatorial Guinea. 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 Sub-Saharan Africa
Income Category High income
Population 736,296
GNI Per Capita (US$) 13,560
City covered Malabo
Doing Business 2014 Rank Doing Business 2013 Rank*** Change in Rank
166 164 down -2

Doing Business 2014 DTF** (% points) Doing Business 2013 DTF** (% points) Improvement in DTF** (% points)
49.12 49.06 down 0.06
 

Starting a Business

Info

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 185 DB 2013 Rank*** 184 Change in Rank down-1
DB 2014 DTF** (% points) 37.50 DB 2013 DTF** (% points) 37.61 Improvement in DTF** (% points) down-0.11

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

Indicator Equatorial Guinea Sub-Saharan Africa 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)
18 8 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)
135.0 29.7 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)
98.6 67.4 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)
13.0 125.7 10.4
No. Procedure Time to Complete Associated Costs
1 Obtain a copy of the criminal records 1 day no charge
2 Notary legalizes company statutes 3-14 days 3-6% of capital
3 Register public deed in the commercial registry 2-3 days 3% of capital
4 Open bank account and obtain bank certificate (solvencia bancaria) 1 day no charge
5 Obtain certificate of solvency 2 days FCFA 10,000 – 15,000 (stamps)
6 Apply for authorization of establishment by the Prime Minister 1-12 months FCFA 2,000 (stamp)
* 7 Apply for registration with the Department of Small and Medium-size Companies at the Ministry of Commerce Ministerio de Economia, Comercio y Promoción Empresarial) 1 day (simultaneous with previous procedure) FCFA 100,000
* 8 Apply for registration with the Department of Commerce at the Ministry of Commerce (Ministerio de Economia, Comercio y Promoción Empresarial) 1 day (simultaneous with previous procedure) FCFA 150,000
* 9 Apply for tax registration 1 day (simultaneous with previous procedure) 1% of capital (tax identification number – NIF) + 1% of capital (minimum fiscal quota) + CFA 2,000 (tax ID number)
* 10 Apply for registration with the Ministry of Labor of the start of operations 1 day (simultaneous with previous procedure) CFA 300 (form) + CFA 6,750 (small) - CFA 12,500 (medium-sized)
* 11 Pay fees into treasury’s bank account 1 day (simultaneous with previous procedure) included in procedure 7-10
* 12 Obtain confirmation from Treasury for receipt of payment 3-5 days (simultaneous with previous procedure) no charge
* 13 Provide confirmation of payment and obtain license from Department of Small and Medium-size Enterprises 14 days (simultaneous with previous procedure) included in procedure 7
* 14 Provide confirmation of payment and obtain license from Department of Commerce 14 days (simultaneous with previous procedure) included in procedure 8
* 15 Obtain tax identification number (NIF) 2 days (simultaneous with previous procedure) included in procedure 9
* 16 Obtain registration number with Ministry of Labor 1 day (simultaneous with previous procedure) included in procedure 10
* 17 Obtain social security number 1 day (simultaneous with previous procedure) no charge
* 18 Register for social security 1 day (simultaneous with previous procedure) FCFA 300 per page
* 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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