Suriname

Ease of Doing Business in

Suriname

This page summarizes Doing Business 2015 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 539,276
GNI Per Capita (US$) 9,260
City covered Paramaribo
Doing Business 2015 Rank Doing Business 2014 Rank*** Change in Rank
162 159 down -3

Doing Business 2015 DTF** (% points) Doing Business 2014 DTF** (% points) Change in DTF** (% points)
49.29 48.88 down 0.41
Positive=Doing Business reform making it easier to do business. Negative=Change 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 2015 Rank 181 DB 2014 Rank*** 181 Change in Rank 0
DB 2015 DTF** (% points) 48.05 DB 2014 DTF** (% points) 43.87 Change in DTF** (% points) up4.18

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).

View methodology
Procedures (number)
13.0 8.3 4.8

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)
84.0 30.1 9.2

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)
106.4 31.1 3.4

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)
0.3 3.2 8.8
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 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 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 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.

**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...

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

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