Suriname

Ease of Doing Business in

Suriname

This page summarizes Doing Business 2014 data for Suriname. 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 Upper middle income
Population 534,541
GNI Per Capita (US$) 8,480
City covered Paramaribo
Doing Business 2014 Rank Doing Business 2013 Rank*** Change in Rank
161 165 down 4

Doing Business 2014 DTF** (% points) Doing Business 2013 DTF** (% points) Change in DTF** (% points)
47.15 45.76 down 1.39
Positive=Doing Business reform making it easier to do business. Negative=Doing Business reform making it more difficult to do business.
 

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 181 DB 2013 Rank*** 180 Change in Rank down-1
DB 2014 DTF** (% points) 40.60 DB 2013 DTF** (% points) 40.22 Change in DTF** (% points) up0.38

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

Indicator Suriname 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)
13 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)
208.0 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)
107.7 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.

View methodology
Paid-in Min. Capital (% of income per capita)
0.4 3.6 10.4
No. Procedure Time to Complete Associated Costs
1 Deposit paid-in minimum capital 1 day no charge
2 Verify the uniqueness of the company name 1 day SRD 100
3 Obtain the extract and nationality declaration for each founder from the Civil Registry 1 day SRD 5 (SRD 1 per founder)
4 Pay the fee at the Accountancy and Finance Department of the Ministry of Justice and Police 1 day included in procedure 6
5 Pay the fee at the Districts Commissioner 1 day included in procedure 6
6 Draft and notarize the articles of association 3-4 days SRD 27,925
7 Apply for company registration at the Trade Register of the Chamber of Commerce 1-2 days SRD 50 to 100
8 Obtain the approval of the act by the President 14 days no charge
9 Publish the statement of no objection in the Official Gazette 2-3 days SRD 1500
* 10 Register a copy of the approved act with the Trade Register of the Chamber of Commerce and Industry 1 day (simultaneous with previous procedure) no charge
* 11 Register for taxes at the tax office of the Ministry of Finance 1 to 2 days (simultaneous with previous procedure) no charge
* 12 Buy company insurance 2 to 3 days (simultaneous with previous procedure) SRD 60 per person per year
* 13 Obtain the trade license 6 months (simultaneous with previous procedure) SRD 550
* 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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