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Ease of Doing Business in

Kiribati

Kiribati Download Profile (1681.5KB, pdf)
Region East Asia & Pacific
Income Category Lower middle income
Population 112,423
GNI Per Capita (US$) 3,230
City covered Tarawa

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 152 151 down
1
49.19 48.51 down
0.68
Starting a Business 140 141 up
1
78.17 76.46 up
1.71
Dealing with Construction Permits 119 115 down
4
65.13 65.12 up
0.01
Getting Electricity 164 172 up
8
43.95 37.96 up
5.99
Registering Property 144 146 up
2
49.13 49.11 up
0.02
Getting Credit 167 163 down
4
20.00 20.00
-
Protecting Minority Investors 123 118 down
5
45.00 45.00
-
Paying Taxes 73 70 down
3
75.08 75.96 down
0.88
Trading across Borders 124 120 down
4
62.08 62.08
-
Enforcing Contracts 118 116 down
2
53.39 53.39
-
Resolving Insolvency 169 169
-
0.00 0.00
-

DB 2017 Rank: 140

DB 2016 Rank: 141

Change in Rank: up1

DB 2017 DTF (% points): 78.17

DB 2016 DTF (% points): 76.46

Change in DTF (% points): up1.71

Standardized Company
Legal form: Private Limited Liability Company
Paid-in minimum capital requirement: AUD 500
City: Tarawa
Indicator Kiribati East Asia & Pacific OECD high income
Procedure – Men (number) info_outline 7.0 7.0 4.8
Time – Men (days) info_outline 31.0 23.9 8.3
Cost – Men (% of income per capita) info_outline 36.3 19.0 3.1
Procedure – Women (number) info_outline 7.0 7.1 4.8
Time – Women (days) info_outline 31.0 23.9 8.3
Cost – Women (% of income per capita) info_outline 36.3 19.0 3.1
Paid-in min. capital (% of income per capita) info_outline 13.0 12.3 9.2
  • No. Procedure Time to Complete Associated Costs
    1

    Deposit the legally required capital in a bank and obtain deposit evidence

    Agency: Bank

    New companies must deposit share capital in a bank and obtain the receipt of deposit. There are only two Banks: ANZ Bank (Kiribati) Ltd and Development Bank of Kiribati where the procedure can be performed.
    1 day no charge
    2

    Check the uniqueness of the proposed company name

    Agency: Ministry of Commerce, Industry and Cooperatives

    Searches of business names are done manually by the Companies Office. The Companies Ordinance (s14 (10)) prescribes the forms of application for approval and reservation of a business name.
    1 day no charge
    3

    Register the company with the Registrar’s Office

    Agency: Companies Office (Ministry of Commerce, Industry and Cooperatives)

    The prescribed forms of registration and fees are part of the Companies Act. These forms can be obtained from the Registrar. The cost is UD$ 50 for lodging particulars of the company and AUD$ 50 for the issuance of the certificate of incorporation, as well as, actual incorporation fee assessed based on share capital. The incorporation fee is calculated pursuant to section 9 of the Companies Act, according to the following formula:
    • Upon the first $10,000 of the authorized share capital a fee of $3.00 per $100 of such share (subject to a minimum fee of $250), and
    • Upon the next $40,000 of share capital, a fee of $2.00 per $100, and
    • Upon any residue of such share capital, a fee of $0.50 cents per $100.
    Provide the maximum fee for a company incorporated before the 1st April 1981 shall be $500.

    For a company with start up share capital of AUD 25,645 per Doing Business case study, the incorporation fee would be AUD 613 (AUD 300 for the first $10,000 and AUD 313 for subsequent 15,645). As such, in total the company would pay AUD 713.
    11 days on average AUD 50 for name reservation + AUD 50 for approval of company name + AUD 612.91 incorporation fee assessed by the Registrar based on share capital (see procedure comments)
    4

    Register for taxes

    Agency: Ministry for Finance and Economic Planning

    Under the Income Tax Act, companies operating locally must register for taxes.
    2 days on average no charge
    5

    Register with the Kiribati Provident Fund (KPF)

    Agency: Kiribati Provident Fund (KPF)

    Companies are required to register with KPF to avoid duplication of numbers given to each applicant.
    1 day no charge
    6

    Apply for a business license from the relevant licensing authority

    Agency: Betio Town Council

    The Company must apply for a business license from the relevant licensing authority (e.g., a council) in each jurisdiction in which business activities are carried out. The license is renewable annually. A retail business license must be obtained from the local government. The application process takes about a day and about 1 – 2 weeks to obtain the actual license. Three people will be visiting the business location (the Betio Town Council Clerk, the Mayor and the Vice Major. In addition to the cost of the license, an executive fee of AUD 90 is charged (AUD 30 per person).
    11 days on average AUD 100-600
    7

    Make a company seal

    Agency: Sealmaker

    Although doing so is not compulsory, companies customarily make a company seal by ordering it from a manufacturer in Australia or another Pacific country. No authorization is required to make a seal.
    4 days on average AUD 25-30