Vanuatu

Ease of Doing Business in

Vanuatu

This page summarizes Doing Business 2015 data for Vanuatu. 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 East Asia & Pacific
Income Category Lower middle income
Population 252,763
GNI Per Capita (US$) 3,130
City covered Port Vila
Doing Business 2015 Rank Doing Business 2014 Rank*** Change in Rank
76 75 down -1

Doing Business 2015 DTF** (% points) Doing Business 2014 DTF** (% points) Change in DTF** (% points)
64.60 63.62 down 0.98
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 137 DB 2014 Rank*** 126 Change in Rank down-11
DB 2015 DTF** (% points) 75.26 DB 2014 DTF** (% points) 75.26 Change in DTF** (% points) 0.00

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

Indicator Vanuatu 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).

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Procedures (number)
8.0 7.3 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.

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Time (days)
35.0 34.4 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.

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Cost (% of income per capita)
46.2 27.7 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)
0.0 256.4 8.8
No. Procedure Time to Complete Associated Costs
1 Check the uniqueness of the company name 1 day no charge
2 Apply for the Vanuatu Financial Services Commission (VFSC) for a permit to incorporate a company 14 days VUV 30,000
* 3 File the memorandum with the Registrar 3 weeks, simultaneous with procedure 2 included in the previous procedure
4 Apply for a business license from the Department of Customs and Inland Revenue services 1 day VUV 20,000 to 1,000,000 (VUV 100,000 in case of a turnover between VUV 20,000,000 and VUV 30,000,000).
* 5 Register with the VAT office 3 days, simultaneous with procedure 4 no charge
6 Registration as an employer with the National Provident fund 1 week no charge
* 7 Enroll employees in the work accident insurance 3 days, simultaneous with previous procedure no charge
8 Make a company seal 3 days VUV 3,000
* 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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