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Ease of Doing Business in

Solomon Islands

Solomon Islands Download Profile (1720.3KB, pdf)
Region East Asia & Pacific
Income Category Lower middle income
Population 583,591
GNI Per Capita (US$) 1,940
City covered Honiara

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 104 105 up
1
59.17 58.79 down
0.38
Starting a Business 97 91 down
6
85.48 85.11 up
0.37
Dealing with Construction Permits 63 59 down
4
72.76 72.94 down
0.18
Getting Electricity 80 91 up
11
72.53 69.01 up
3.52
Registering Property 152 153 up
1
47.38 47.34 up
0.04
Getting Credit 82 78 down
4
50.00 50.00
-
Protecting Minority Investors 106 101 down
5
50.00 50.00
-
Paying Taxes 39 38 down
1
83.58 83.58
-
Trading across Borders 151 152 up
1
53.45 53.45
-
Enforcing Contracts 153 152 down
1
44.63 44.63
-
Resolving Insolvency 138 136 down
2
31.90 31.85 up
0.05

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

DB 2017 Rank: 97

DB 2016 Rank: 91

Change in Rank: down6

DB 2017 DTF (% points): 85.48

DB 2016 DTF (% points): 85.11

Change in DTF (% points): up0.37

Standardized Company
Legal form: Limited Liability Company
Paid-in minimum capital requirement: SBD 0
City: Honiara
Indicator Solomon Islands East Asia & Pacific OECD high income
Procedure – Men (number) info_outline 7.0 7.0 4.8
Time – Men (days) info_outline 9.0 23.9 8.3
Cost – Men (% of income per capita) info_outline 28.5 19.0 3.1
Procedure – Women (number) info_outline 7.0 7.1 4.8
Time – Women (days) info_outline 9.0 23.9 8.3
Cost – Women (% of income per capita) info_outline 28.5 19.0 3.1
Paid-in min. capital (% of income per capita) info_outline 0.0 12.3 9.2
  • No. Procedure Time to Complete Associated Costs
    1

    Obtain approval of the company name from the Ministry of Commerce

    Agency: Ministry of Commerce

    Prior to registration of the company, the entrepreneur check the name of the company. The name search and the reservation of a name for a limited liability company can be done online with minutes.
    1 day No charge
    2

    Register the company with the Registrar of Companies

    Agency: Registrar of companies

    Registration can be done online via Company Haus’s website (http://www.companyhaus.gov.sb). Entrepreneurs have the option to register the company using the computer terminal at the Company Haus on Mendana Avenue with the assistance from the staffs.
    2 days on average included in procedure 3
    * 3

    Pay registration fees at the Inland Revenue Division

    Agency: Central Revenue Collection counter

    Entrepreneurs need to take the completed payment fee form to the Inland Revenue Division counter with cash or check, either in Honiara or at his/her provincial revenue collection agency in Gizo or Auki.
    1 day, simultaneous with previous procedure SBD 1,250
    4

    Register for income tax, goods tax, and sales tax

    Agency: Tax administration

    Form IR1 must be completed and the certificate of incorporation must be attached.
    3 days no charge
    * 5

    Register as an employer with the National Provident Fund

    Agency: National Provident fund

    Forms must be filled out on paper.
    1 day, simultaneous with previous procedure no charge
    * 6

    Make a company seal

    Agency: Seal maker

    This procedure is no longer required by law, but in practice businesses are still making a seal.
    4 days, simultaneous with previous procedure SBD 500
    7

    Pay the business license fee at the Honiara Council

    Agency: Honiara Council

    The city council must approve the license first. It can be done in 1 day but it also can take up to 3 days. The TIN and Business incorporation certificate must be provided as well. For a manufacturing-L type of company, the fee is SBD 2,700.
    2 days on average SBD 2,700

    * Takes place simultaneously with previous procedure.