This is the second consecutive year that New Zealand has come first in the World Bank ranking. After registering a company name online, entrepreneurs can apply for tax-related accounts and incorporate the company at the same time.
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No. 2: Australia —
Australia made starting a business cheaper a few years ago by lowering the registration fee. It now costs 426 Australian dollars (US$390).
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No. 3: Canada —
Starting a business in Canada takes one online application, and five days for the company to receive the business number, according to the report.
No. 4: Singapore —
One of the three steps of starting a business in Singapore is the traditional requirement of making a company seal, an ink stamp used as a signature on numerous documents.
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No. 5: Macedonia —
Over the past five years, Macedonia has simplified the process of establishing a business by lowering capital requirements, reducing application procedures and time, and improving its online one-stop shop.
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No. 6: Hong Kong —
In addition to registering the company and creating a rubber stamp, Hong Kong requires companies to sign up for an insurance policy and for the local pension fund.
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No. 7: Georgia —
Georgia has removed layers of red tape in recent years, now requiring registration and opening a new bank account, which are expected to take two days.
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No. 8: Rwanda —
Although it is not particularly easy to do business in Rwanda overall, it is relatively simple to start a company. The only requirement is to registering the business, which is free of charge if it is done online, and the certificate is ready in one to three days.
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No. 9: Belarus —
Launching a business in Belarus takes five days, about a third of the average time in Eastern Europe and Central Asia. It also does not require entrepreneurs put in a minimum capital.
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No. 10: Ireland —
The first step in opening a business in Ireland is for a company founder to swear that the company has complied with relevant laws.