Suriname

Ease of Doing Business in

Suriname

This page summarizes Doing Business 2016 data for Suriname. The first section presents the Ease of Doing Business rank (out of 189 economies) and the distance to frontier (DTF)** measure, overall and by topic. The second section summarizes the key indicators for each topic benchmarked against regional averages.

Economy Overview

 
Region Latin America & Caribbean
Income Category Upper middle income
Population 543,925
GNI Per Capita (US$) 9,640
City covered Paramaribo
Doing Business 2016 Rank Doing Business 2015 Rank
X

DOING BUSINESS 2015 RANK

Last year's rankings are adjusted. They are based on 10 topics and reflect data corrections.

Change in Rank
156 154 down -2

Doing Business 2016 DTF (% points)
X

DISTANCE TO FRONTIER SCORE

The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

Doing Business 2015 DTF (% points)
X

DISTANCE TO FRONTIER SCORE

The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

Change in DTF (% points)
X

DISTANCE TO FRONTIER SCORE

The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

47.69 47.09 down 0.60
Positive=Doing Business reform making it easier to do business. Negative=Change making it more difficult to do business.

Starting a Business

X

Starting a Business

The steps of launching a business are shown below. Included are: the number of procedures entrepreneurs can expect to go through to start up and formally operate an industrial or commercial business, as well as the time and cost to complete these procedures and the paid-in minimum capital requirement as a percentage of gross national income (GNI) per capita.

DB 2016 Rank 183 DB 2015 Rank
X

DOING BUSINESS 2015 RANK

Last year's rankings are adjusted. They are based on 10 topics and reflect data corrections.

180 Change in Rank down-3
DB 2016 DTF (% points)
X

DISTANCE TO FRONTIER SCORE

The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

48.76 DB 2015 DTF (% points)
X

DISTANCE TO FRONTIER SCORE

The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

48.82 Change in DTF (% points)
X

DISTANCE TO FRONTIER SCORE

The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

down-0.06

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 high income
Procedures (number)
X

Procedures (number)

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

13 8.3 4.7
Time (days)
X

Time (days)

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

84.0 29.4 8.3
Cost (% of income per capita)
X

Cost (% of income per capita)

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

100.7 31.0 3.2
Paid-in min. capital (% of income per capita)
X

Paid-in min. capital (% of income per capita)

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

0.3 2.8 9.6
No. Procedure Time to Complete Associated Costs
1 Open a bank account to 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 Accounting and Finance Department of the Ministry of Justice and Police 1 day included in procedure 6
5 Pay the fee at the District's Commissioner 1 day included in procedure 6
6 Draft and notarize the articles of association 4 days on average see procedure comments
7 Apply for company registration at the Trade Register of the Chamber of Commerce 1 day on average SRD 150
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 3 days on average SRD 1,500
* 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 2 days on average (simultaneous with previous procedure) no charge
* 12 Buy company insurance 2 days on average (simultaneous with previous procedure) SRD 60 per person per year
* 13 Obtain the trade license 2 months (simultaneous with previous procedure) SRD 650
  * Takes place simultaneously with another procedure.

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