Micronesia, Fed. Sts.

Ease of Doing Business in

Micronesia, Fed. Sts.

This page summarizes Doing Business 2013 data for the Federated States of Micronesia. The first table lists the overall "Ease of Doing Business" rank (out of 185 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

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Economy Summary
Starting a Business
Dealing with Construction Permits
Getting Electricity
Registering Property
Getting Credit
Protecting Investors
Paying Taxes
Trading Across Borders
Enforcing Contracts
Resolving Insolvency
Region East Asia & Pacific
Income Category Lower middle income
Population 111,542
GNI Per Capita (US$) 2,900
Doing Business 2013 Rank Doing Business 2012 Rank Change in Rank
150 146 down -4

Doing Business 2013 DTF** (% points) Doing Business 2012 DTF** (% points) Improvement in DTF** (% points)
43.6 43.6 0.0
Topic Rankings DB 2013 Rank DB 2012 Rank Change in Rank
Starting a Business 104 101 up -3
Dealing with Construction Permits 42 40 up -2
Getting Electricity 53 55 up 2
Registering Property 185 185 No change
Getting Credit 129 127 up -2
Protecting Investors 177 176 up -1
Paying Taxes 85 88 up 3
Trading Across Borders 100 102 up 2
Enforcing Contracts 149 149 No change
Resolving Insolvency 166 167 up 1

Economy Profile

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Additional Data

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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 2013 Rank 104 DB 2012 Rank 101 Change in Rank down-3
DB 2013 DTF** (% points) 69.3 DB 2012 DTF** (% points) 69.5 Improvement in DTF** (% points) down-0.2
YearNew business densityNumber of new limited liability companies
2011 6.1794,050
Indicator Micronesia, Fed. Sts. East Asia & Pacific 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).

View methodology Procedures (number)
7 7 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.

View methodology Time (days)
16 36 12

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 Cost (% of income per capita)
144.2 22.4 4.5

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 Paid-in Min. Capital (% of income per capita)
0.0 13.4 13.3
No. Procedure Time to Complete Associated Costs
1 Check the uniqueness of the proposed company name and reserve a name 1 day USD 20
2 Notarize the company documents 3 days USD 2 per page
3 File the incorporation documents with the Registrar of the Companies 7 days no charge
4 Obtain the payment receipt (four duplicates) and pay the registration fee and license fee at the Finance Office of the state government 1 day see comments
5 Obtain the certificate of corporation 1 day included in procedure 4
6 Apply for a business license from the municipality 2 days depending on numbers and types of licenses, $100 for retailing
7 Register for social security 1 day USD 10

** 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 indicators across all economies included in Doing Business since each indicator was 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...

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