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Additional copies of Doing Business 2011: Making a Difference for Entrepreneurs, Doing Business 2010:
Reforming through Difficult Times, Doing Business 2009, Doing Business 2008, Doing Business 2007: How to
Reform, Doing Business in 2006: Creating Jobs, Doing Business in 2005: Removing Obstacles to Growth and
Doing Business in 2004:Understanding Regulations may be purchased at www.doingbusiness.org.
ISBN: 978-0-8213-7960-8
E-ISBN: 978-0-8213-8630-9
DOI: 10.1596/978-0-8213-7960-8
ISSN: 1729-2638
Rankings
How economies rank-from 1 to 183
http://www.doingbusiness.org/rankings/
Contents
Reformers
Short summaries of DB2011 reforms, lists of reformers since DB2004 Introduction
and a ranking simulation tool and Aggregate Rankings
http://www.doingbusiness.org/reforms/
5 - Year Measure of
Historical data Cumulative Change
Customized data sets since DB2004
http://www.doingbusiness.org/custom-query/ Starting a Business
Paying Taxes
Subnational and regional projects
Differences in business regulations at the subnational and regional
Trading Across Borders
level
http://www.doingbusiness.org/subnational-reports/
Enforcing Contracts
Local partners
More than 8,200 specialists in 183 economies who participate in
Doing Business
http://www.doingbusiness.org/Local-Partners/Doing-Business/
Business Planet
Interactive map on the ease of doing business
http://rru.worldbank.org/businessplanet
Doing Business 2011 : Making a Difference for Entrepreneurs is the eighth in a series of annual reports investigating
regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators
on business regulations and the protection of property rights that can be compared across 183 economies, from
Afghanistan to Zimbabwe, over time.
A set of regulations affecting 9 stages of a business’s life are measured: starting a business, dealing with construction
permits, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing
contracts and closing a business. Data in Doing Business 2011 are current as of June 1, 2010*. The indicators are used
to analyze economic outcomes and identify what reforms have worked, where, and why.
The Doing Business methodology has limitations. Other areas important to business such as an economy ’s proximity
to large markets, the quality of its infrastructure services (other than those related to trading across borders), the
security of property from theft and looting, the transparency of government procurement, macroeconomic conditions
or the underlying strength of institutions, are not studied directly by Doing Business. To make the data comparable
across economies, the indicators refer to a specific type of business, generally a local limited liability company
operating in the largest business city. Because standard assumptions are used in the data collection, comparisons and
benchmarks are valid across economies. The data not only highlight the extent of obstacles to doing business; they
also help identify the source of those obstacles, supporting policymakers in designing reform.
The data set covers 183 economies: 46 in Sub-Saharan Africa, 32 in Latin America and the Caribbean, 25 in Eastern
Europe and Central Asia, 24 in East Asia and Pacific, 18 in the Middle East and North Africa and 8 in South Asia, as
well as 30 OECD high-income economies.
The following pages present the summary Doing Business indicators for Antigua and Barbuda. The data used for this
economy profile come from the Doing Business database and are summarized in graphs. These graphs allow a
comparison of the economies in each region not only with one another but also with the “good practice” economy for
each indicator.
The good-practice economies are identified by their position in each indicator as well as their overall ranking and by
their capacity to provide good examples of business regulation to other countries. These good -practice economies do
not necessarily rank number 1 in the topic or indicator, but they are in the top 10.
More information is available in the full report. Doing Business 2011 : Making a Difference for Entrepreneurs
presents the indicators, analyzes their relationship with economic outcomes and recommends reforms. The data, along
with information on ordering the report, are available on the Doing Business website (www.doingbusiness.org).
* Except for the Paying Taxes indicator that refers to the period January to December of 2009.
Note: 2008-2010 Doing Business data and rankings have been recalculated to reflect changes to the methodology
and the addition of new economies (in the case of the rankings).
1
Economy Rankings - Ease of Doing Business
Antigua and Barbuda is ranked 64 out of 183 economies. Singapore is the top ranked economy in the Ease of Doing
Business.
Antigua and Barbuda - Compared to global good practice economy as well as selected economies:
Starting a Business 72
Protecting Investors 28
Enforcing Contracts 73
Closing a Business 66
2
Summary of Indicators - Antigua and Barbuda
Time (days) 21
Time (days) 26
Cost (% of estate) 7
The 5 year measure of cumulative change illustrates how the business regulatory environment has changed in 174 economies
from Doing Business 2006 to Doing Business 2011. Instead of highlighting which countries currently have the most business
friendly environment, this new approach shows the extent to which an economy’s regulatory environment for business has
changed compared with 5 years ago.
This snapshot reflects all cumulative changes in an economy’s business regulation as measured by the Doing Business
indicators-such as a reduction in the time to start a business thanks to a one-stop shop or an increase in the strength of
investor protection index thanks to new stock exchange rules that tighten disclosure requirements for related -party
transactions.
This figure shows the distribution of cumulative change across the 9 indicators and time between Doing Business 2006 and
Doing Business 2011
0.020
0.018
0.016
Doing
business has
become 0.014
easier (DB
change 0.012
score)
0.010
0.008
0.006
0.004
St. Vincent Antigua and Grenada Jamaica Dominica St. Kitts and
and the Barbuda Nevis
Grenadines
6
1. Benchmarking Starting a Business Regulations:
Ranking of Antigua and Barbuda in Starting a Business - Compared to good practice and selected economies:
7
The following table shows Starting a Business data for Antigua and Barbuda compared to good practice and comparator
economies:
Denmark* 0.0
Selected Economy
Comparator Economies
8
2. Historical data: Starting a Business in Antigua and Barbuda
Starting a Business data Doing Business Doing Business Doing Business Doing Business
2008 2009 2010 2011
Rank .. .. 61 72
Procedures (number) 8 8 8 8
Time (days) 21 21 21 21
3. The following graphs illustrate the Starting a Business sub indicators in Antigua and Barbuda over the
past 4 years:
9
Starting a Business Summary - Antigua and Barbuda
This table summarizes the procedures and costs associated with setting up a business in Antigua and Barbuda.
STANDARDIZED COMPANY
Legal Form: Private Limited Liability Company
City: St. John's
Registration Requirements:
3 Register with the Intellectual Property and Commerce Office (receive 10 XCD 3,230
certificate of incorporation)
5 * Apply for tax payer identification number (register the company for 3 no charge
tax)
10
* Takes place simultaneously with another procedure.
11
Starting a Business Details - Antigua and Barbuda
Time to complete: 3
Comment: The company name search is performed manually by going through large registration books. Upon
assurance that no other company goes by the proposed name, a form is submitted to reserve the
name for three months.
Time to complete: 1
Comment: The cost is defined as the fee charged by a lawyer or justice of the peace to prepare a declaration
attesting that the company owner is not bankrupt, is mentally sound, and is over 18 years of age.
This is the only document that requires an attorney’s intervention by law. However, the general
practice is that an attorney will prepare all incorporation documents: notice of address, notice of
directors, and articles of incorporation. In this case, the average attorney fee is XCD 3,000. All the
necessary documents are forms from the Company Act and are completed by filling in blanks.
Legalization of the documents is not required by law.
Procedure 3 Register with the Intellectual Property and Commerce Office (receive certificate of
incorporation)
Time to complete: 10
Comment: The annual return is filed at the company registry with directors’ names, shares issued, and
address.
Time to complete: 5
Comment: Company seals are not required by the Company Act but are in practice required for everyday
company transactions. The cost varies between EC 75 and EC 275.
Procedure 5 Apply for tax payer identification number (register the company for tax)
12
Time to complete: 3
Comment: The taxpayer identification registration is done at the Inland Revenue Authority. Application for
Registration is done after the company has been incorporated and there is a Certificate of
Incorporation. The registration form is available on the Government website an can be printed but
cannot register online.
Time to complete: 1
Comment: The company can register for VAT at the Inland Revenue Authority. The Registration Form is
available on the Government website and can be printed but cannot register online. Registration is
done only after the company has been incorporated and there is a Certificate of Incorporation.
Time to complete: 1
Comment: Both the employer's and employee's monthly contribution to medical benefit is the same i.e. 3.5%
of the employee's basic montly wage. There is no maximum contribution.
Time to complete: 1
Comment: The company registers with Social Security first and once a registration number is received this is
taken to Board of Education in order to register there. The education levy is only payable by the
employee but the employer is required to deduct the education levy from the employee's wages and
submit to the Inland Revenue Department on the prescribed form monthly. the employer's
contribution to social security is 5% of the employees basic monthly wage up to a maximum of
EC$225 per month. The employee's contribution is 3% up to a maximum of EC$135.
13
14
1. Benchmarking Dealing with Construction Permits Regulations:
Antigua and Barbuda is ranked 25 overall for Dealing with Construction Permits.
Ranking of Antigua and Barbuda in Dealing with Construction Permits - Compared to good practice and selected
economies:
15
The following table shows Dealing with Construction Permits data for Antigua and Barbuda compared to good practice
and comparator economies:
Denmark 6
Qatar 0.8
Singapore 25
Selected Economy
Comparator Economies
16
2. Historical data: Dealing with Construction Permits in Antigua and Barbuda
Dealing with Construction Permits data Doing Business Doing Business Doing Business Doing Business
2008 2009 2010 2011
Rank .. .. 21 25
Procedures (number) 13 13 13 13
3. The following graphs illustrate the Dealing with Construction Permits sub indicators in Antigua and
Barbuda over the past 4 years:
17
Dealing with Construction Permits in Antigua and Barbuda
The table below summarizes the procedures, time, and costs to build a warehouse in Antigua and Barbuda.
BUILDING A WAREHOUSE
City: St. John's
Registration Requirements:
4 Receive notification of fee charge and pay into the Treasury the 2 days XCD 7,035
appropriate fees
5 Obtain planning permission from Development Control Authority (DCA) 35 days no charge
18
9 Receive inspection from the Electrical Department and obtain certificate 7 days XCD 10
19
Dealing with Construction Permits Details - Antigua and Barbuda
Comment: The location plan is generally derived from cadastral sheets or DOS maps, as the case
may be. The information is obtained within a few minutes because the entire island is
divided into “blocks.”
Comment: Buildco obtains an approval in principle to ensure the final approval of the building plans.
This approval safeguards the company against potential objections to the structure from
area residents.
Comment:
Procedure 4 Receive notification of fee charge and pay into the Treasury the appropriate fees
Agency: Treasury
Comment: Before issuing its approval, the Development Control Authority informs the applicant that
it must pay the Treasury the appropriate fee and submit the receipt to the authority for
inspection purposes.
20
Time to complete: 35 days
Comment: To obtain planning permission, the architect must submit to the Development Control
Authority a three-page application (with three copies) that includes building designs, a
location plan, a site plan, and proof of ownership. This procedure also includes approval
of sewage services.
Comment: At the discretion of its board of directors, the Development Control Authority may
require final approval, but only for commercial buildings.
Comment:
Comment: The Development Control Authority checks that the building conforms to the issued
development permit.
Procedure 9 Receive inspection from the Electrical Department and obtain certificate
Comment: The electrical department inspects circuits and network connectivity before BuildCo
applies for an electrical connection. To this end, BuildCo must present the electrical
inspection certificate along with the application form.
21
Procedure 10 Apply for electrical connection
Comment:
Comment:
Comment:
Comment:
22
23
1. Benchmarking Registering Property Regulations:
Ranking of Antigua and Barbuda in Registering Property - Compared to good practice and selected economies:
24
The following table shows Registering Property data for Antigua and Barbuda compared to good practice and comparator
economies:
New Zealand* 2
Norway* 1
Selected Economy
Comparator Economies
Dominica 5 42 13.7
Grenada 8 47 7.4
Jamaica 6 37 7.5
25
2. Historical data: Registering Property in Antigua and Barbuda
Registering Property data Doing Business Doing Business Doing Business Doing Business
2008 2009 2010 2011
Procedures (number) 6 6 6 7
Time (days) 26 26 26 26
3. The following graphs illustrate the Registering Property sub indicators in Antigua and Barbuda over
the past 4 years:
26
Registering Property in Antigua and Barbuda
This topic examines the steps, time, and cost involved in registering property in Antigua and Barbuda.
STANDARDIZED PROPERTY
Property Value: 1,641,285.51
City: St. John's
Registration Requirements:
6 Payment of stamp duty on the instrument of transfer 1 day 10% of property value
at the Inland Revenue Commission
27
7 Instrument of transfer is submitted to the Land 7 days EC$30 (registration fee) +
Registry for registration EC$100 (land certificate) +
lawyer’s fees (2.5% on the
first EC$25,000, 2% on the
second EC$25,000 and 1%
on the next EC$950,000
and 0.5% on the balance)
28
Registering Property Details - Antigua and Barbuda
Comment: The lawyer checks for encumbrances at the Land Registry. The Registry is computerized, so
the lawyer gives the clerk the block and parcel number, and he then provides the title record.
If the block and parcel number is unknown, an index search of the current Registered
Proprietor's name can be conducted to locate the parcel in question.
Comment: It is standard practice that the sale purchase agreement is prepared by a lawyer. At this point
the purchaser usually gives a deposit on the property to the vendor. The vendor guarantees
that there are no encumbrances (or they are noted in the agreement) and no outstanding taxes
associated with the property. Both companies present the resolution of their shareholders to
engage in the transaction, as well as powers of attorney to act on behalf of the company. At
the end of this time period, the parties execute the instrument of transfer (a prescribed form
according to Laws of Antigua and Barbuda, revised in 2007, Vol. 13, CAP 374) and swear the
certifications of their signatures.
Comment: The Inland Revenue Commission checks that all property taxes have been paid, and assesses
the value of the land according to the existing cadastre to decide the amount of stamp duty to
be paid. Occasionally, evaluation officers may need to inspect the property at this point in
order to determine its value if there is a discrepancy in the records of property taxes vs. the
cadastral value.
29
Comment: The Inland Revenue Commission assesses the property value for purposes of charging the
stamp duty on the property. To complete this assessment a valuation officer must inspect the
site.
Comment: Requirement of the Chief Surveyor's certificate which must appear in the transfer, as per the
Registered Land Amendment Act of 2007. Any land privately owned for at least 10 years
must have a Chief Surveyor's certificate confirming that the boundaries have been
authenticated. A transfer filed without this certificate cannot be registered. This is meant to
avoid mischievous declarations
Usually surveyors are available, and they would be hired to do the verification and submit the
form. After that the Surveyor’s office just signs and allows the transfer.
The Land Surveys Division must verify the boundaries of the subject property and confirm
that they have been established or re-established with the 10 years preceding the land transfer.
The Registered Land Act Cap 374 was amended on the 25th October, 2007 to include the
following provisions namely Sections 106(6) and 106(7):
(i) "The Registrar may require an instrument of transfer to be accompanied by a survey plan
authenticated by the Chief Land Surveyor indicating that the boundary in respect of the land to
which the instrument relates has been authenticated."
(ii) "The Registrar may require a resurvey of the land to which the instrument relates where
the authentication of the boundary was effected more than ten years prior to the date of the
instrument."
Procedure 6 Payment of stamp duty on the instrument of transfer at the Inland Revenue Commission
Comment: Usually the vendor pays 7.5% and the purchaser pays 2.5%, but the parties can negotiate this
between themselves. Once it is found that no taxes are owed, the certification of rates and
taxes attached to the transfer is completed by an evaluation officer from the Property Tax
Division. Parties pay the assessed stamp duty and the instrument of transfer is stamped.
Cost to complete: EC$30 (registration fee) + EC$100 (land certificate) + lawyer’s fees (2.5% on the first
EC$25,000, 2% on the second EC$25,000 and 1% on the next EC$950,000 and 0.5% on
the balance)
Agency: Land Registry
30
Comment: The previous Land Certificate must be submitted to the registry for destruction. The
documents for the instrument of transfer are then filed with the date and time submitted noted
on the document itself. All copies are sealed by the registry, but only one copy needs the
stamps attached. A copy is returned to the buyer. The change of ownership is then noted on
the requisite register. This is then submitted to the Registrar of Lands for signature, at which
point the transfer is considered registered. The application for a new Land Certificate can
occur during this time, and is usually issued simultaneously. The registration fee of ED$ 20 is
paid in stamps at the Antigua & Barbuda Registry of Lands. Lawyers/notaries will usually
keep a supply of these at their offices for this purpose.
The registration fee is EC$20 if not more than 3 months have passed between execution and
registration of the instrument of transfer. Filing a transfer after 3 months of the date of
execution is an additional fee of EC$30 for each three month period but not exceeding the sum
of EC$150.
Lawyer/notary fees are usually paid once the Land Certificate is issued and the documents are
registered.
Documents required:
- Instrument of transfer (2 copies required by law)
- Proof of payment of all taxes relating to the property
- Old land certificate
- Application for new land certificate (optional, blanks available at the registry)
31
32
1. Benchmarking Getting Credit Regulations:
Ranking of Antigua and Barbuda in Getting Credit - Compared to good practice and selected economies:
33
The following table shows Getting Credit data for Antigua and Barbuda compared to good practice and comparator
economies:
Portugal 67.1
Singapore* 10
United Kingdom 6
Selected Economy
Comparator Economies
Private bureau coverage (% of adults): Argentina, Australia, Canada, Iceland, Ireland, Norway, Sweden,
United Kingdom, United States
34
2. Historical data: Getting Credit in Antigua and Barbuda
Getting Credit data Doing Business Doing Business Doing Business Doing Business
2008 2009 2010 2011
3. The following graphs illustrate the Getting Credit sub indicators in Antigua and Barbuda over the past
4 years:
35
Getting Credit in Antigua and Barbuda
The following table summarize legal rights of borrowers and lenders, and the availability and legal framework of credit
registries in Antigua and Barbuda.
Number of individuals 0 0
Number of firms 0 0
36
Strength of legal rights index (0-10) 7
Can any business use movable assets as collateral while keeping possession of the assets; and any financial Yes
institution accept such assets as collateral ?
Does the law allow businesses to grant a non possessory security right in a single category of movable assets, Yes
without requiring a specific description of collateral?
Does the law allow businesses to grant a non possessory security right in substantially all of its assets, without Yes
requiring a specific description of collateral?
May a security right extend to future or after-acquired assets, and may it extend automatically to the products, Yes
proceeds or replacements of the original assets ?
Is a general description of debts and obligations permitted in collateral agreements, so that all types of obligations Yes
and debts can be secured by stating a maximum amount rather than a specific amount between the parties ?
Is a collateral registry in operation, that is unified geographically and by asset type, as well as indexed by the Yes
grantor's name of a security right ?
Do secured creditors have absolute priority to their collateral outside bankruptcy procedures? No
During reorganization, are secured creditors' claims exempt from an automatic stay on enforcement? No
Does the law authorize parties to agree on out of court enforcement? Yes
37
38
1. Benchmarking Protecting Investors Regulations:
Ranking of Antigua and Barbuda in Protecting Investors - Compared to good practice and selected economies:
39
The following table shows Protecting Investors data for Antigua and Barbuda compared to good practice and comparator
economies:
Selected Economy
Comparator Economies
Dominica 6.3
Grenada 6.3
Jamaica 5.3
40
2. Historical data: Protecting Investors in Antigua and Barbuda
Protecting Investors data Doing Business Doing Business Doing Business Doing Business
2008 2009 2010 2011
Rank .. .. 27 28
3. The following graph illustrates the Protecting Investors index in Antigua and Barbuda compared
to best practice and selected Economies:
9.7
6.3
6.3
6.3
6.3
6.3
5.3
da
d
a
nd
ev an
a
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in
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ai
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om
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e
G
a
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Ba igu
Ze
i
is
Ja
.K
D
.V
nt
ew
St
ne
A
St
N
di
a
re
Note: The higher the score, the greater the investor protection.
41
Protecting Investors in Antigua and Barbuda
The table below provides a full breakdown of how the disclosure, director liability, and shareholder suits indexes are
calculated in Antigua and Barbuda.
1
What corporate body provides legally sufficient approval for the transaction?
0
Whether immediate disclosure of the transaction to the public and/or shareholders is
required?
1
Whether disclosure of the transaction in published periodic filings (annual reports) is
required?
2
Whether disclosure of the conflict of interest by Mr. James to the board of directors is
required?
0
Whether an external body must review the terms of the transaction before it takes place?
Extent of director liability index (0-10) 8
2
Whether shareholders can hold Mr. James liable for the damage that the Buyer-Seller
transaction causes to the company?
2
Whether shareholders can hold the approving body (the CEO or board of directors) liable for
the damage that the Buyer-Seller transaction causes to the company?
1
Whether a court can void the transaction upon a successful claim by a shareholder plaintiff?
1
Whether Mr. James pays damages for the harm caused to the company upon a successful
claim by the shareholder plaintiff?
42
1
Whether Mr. James repays profits made from the transaction upon a successful claim by the
shareholder plaintiff?
0
Whether fines and imprisonment can be applied against Mr. James?
1
Whether shareholders can sue directly or derivatively for the damage that the Buyer-Seller
transaction causes to the company?
Ease of shareholder suits index (0-10) 7
3
Whether the plaintiff can obtain any documents from the defendant and witnesses during
trial?
2
Whether the plaintiff can directly question the defendant and witnesses during trial?
1
Whether the plaintiff can request categories of documents from the defendant without
identifying specific ones?
0
Whether shareholders owning 10% or less of Buyer's shares can request an inspector to
investigate the transaction?
1
Whether the level of proof required for civil suits is lower than that of criminal cases?
0
Whether shareholders owning 10% or less of Buyer's shares can inspect transaction
documents before filing suit?
Strength of investor protection index (0-10) 6.3
43
44
1. Benchmarking Paying Taxes Regulations:
Ranking of Antigua and Barbuda in Paying Taxes - Compared to good practice and selected economies:
45
The following table shows Paying Taxes data for Antigua and Barbuda compared to good practice and comparator
economies:
Maldives* 3 0
Timor-Leste 0.2
Selected Economy
Comparator Economies
46
2. Historical data: Paying Taxes in Antigua and Barbuda
Paying Taxes data Doing Business Doing Business Doing Business Doing Business
2008 2009 2010 2011
3. The following graphs illustrate the Paying Taxes sub indicators in Antigua and Barbuda over the past
4 years:
47
Paying Taxes in Antigua and Barbuda
The table below addresses the taxes and mandatory contributions that a medium-size company must pay or withhold in
a given year in Antigua and Barbuda, as well as measures of administrative burden in paying taxes.
Tax or mandatory Payments Notes on Time Statutory tax Tax Totaltax rate Notes on
contribution (number) Payments (hours) rate base (% profit) TTR
48
Stamp duty on property 1 7.5% sale price 4.50
transfer
49
50
1. Benchmarking Trading Across Borders Regulations:
Ranking of Antigua and Barbuda in Trading Across Borders - Compared to good practice and selected economies:
51
The following table shows Trading Across Borders data for Antigua and Barbuda compared to good practice and
comparator economies:
Denmark* 5
France 2 2
Malaysia 450
Singapore 4 439
Selected Economy
Comparator Economies
52
2. Historical data: Trading Across Borders in Antigua and Barbuda
Trading Across Borders data Doing Business Doing Business Doing Business Doing Business
2008 2009 2010 2011
Rank .. .. 58 63
3. The following graphs illustrate the Trading Across Borders sub indicators in Antigua and Barbuda
over the past 4 years:
53
54
Trading Across Borders in Antigua and Barbuda
These tables list the procedures necessary to import and export a standardized cargo of goods in Antigua and Barbuda.
The documents required to export and import the goods are also shown.
Totals 15 1133
Totals 15 1633
55
Documents for Export and Import
Export
Bill of lading
Certificate of Origin
Commercial Invoice
Packing list
Import
Bill of lading
Certificate of origin
Commercial invoice
Packing List
56
57
1. Benchmarking Enforcing Contracts Regulations:
Ranking of Antigua and Barbuda in Enforcing Contracts - Compared to good practice and selected economies:
58
The following table shows Enforcing Contracts data for Antigua and Barbuda compared to good practice and comparator
economies:
Bhutan 0.1
Ireland 20
Singapore 150
Selected Economy
Comparator Economies
59
2. Historical data: Enforcing Contracts in Antigua and Barbuda
Enforcing Contracts data Doing Business Doing Business Doing Business Doing Business
2008 2009 2010 2011
Rank .. .. 72 73
Procedures (number) 45 45 45 45
3. The following graphs illustrate the Enforcing Contracts sub indicators in Antigua and Barbuda over
the past 4 years:
60
Enforcing Contracts in Antigua and Barbuda
This topic looks at the efficiency of contract enforcement in Antigua and Barbuda.
Procedures (number) 45
61
Court information: Eastern Caribbean Supreme ("Eastern Caribbean Supreme Court, St. John's High Court of
Court, St. John's High Court of Justice")
Justice
62
63
1. Benchmarking Closing Business Regulations:
Ranking of Antigua and Barbuda in Closing Business - Compared to good practice and selected economies:
64
The following table shows Closing Business data for Antigua and Barbuda compared to good practice and comparator
economies:
Ireland 0.4
Japan 92.7
Singapore* 1
Selected Economy
Comparator Economies
65
2. Historical data: Closing Business in Antigua and Barbuda
Closing a Business data Doing Business Doing Business Doing Business Doing Business
2008 2009 2010 2011
Rank .. .. 65 66
Cost (% of estate) 7 7 7 7
3. The following graphs illustrate the Closing Business sub indicators in Antigua and Barbuda over the
past 4 years:
66
Since 2004 Doing Business has been tracking reforms aimed at simplifying business regulations, strengthening property
rights, opening access to credit and enforcing contracts by measuring their impact on 10 indicator sets . * Nearly 1,000
reforms have had an impact on these indicators. Doing Business 2011, covering June 2009 to June 2010, reports that 117
economies implemented 216 reforms to make it easier to start a business. 64% of economies measured by Doing
Business have reformed this year, focusing on easing business start-up, lightening the tax burden, simplifying import and
export regulations and improving credit information systems.
Enforcing Contracts
Protecting Investors
Starting a Business
Closing a Business
Negative Change
Getting Credit
Paying Taxes
Permits
Economy
Kazakhstan
Rwanda
Peru
Vietnam
Cape Verde
Tajikistan
Zambia
Hungary
Grenada
Brunei Darussalam
* For Doing Business 2011 the Employing Workers indicator is not included in the aggregate ease of doing
business ranking.
67
Summary of changes to business regulation in top 10 most improved economies in Doing
Business 2011 and selected comparator economies.
Antigua and Barbuda In Antigua and Barbuda, to transfer property now requires clearance by
the chief surveyor to avoid mischievous declarations.
Brunei Darussalam Brunei Darussalam made starting a business easier by improving efficiency at the company registrar
and implementing an electronic system for name searches. Brunei Darussalam reduced the corporate
income tax rate from 23.5% to 22% while also introducing a lower tax rate for small businesses,
ranging from 5.5% to 11%. The introduction of an electronic customs system in Brunei Darussalam
made trading easier.
Cape Verde Cape Verde made start-up easier by eliminating the need for a municipal inspection before a business
begins operations and computerizing the system for delivering the municipal license. Cape Verde eased
property registration by switching from fees based on a percentage of the property value to lower fixed
rates. Cape Verde abolished the stamp duties on sales and checks.
Grenada Grenada eased business start-up by transferring responsibility for the commercial registry from the
courts to the civil administration. The appointment of a registrar focusing only on property cut the time
needed to transfer property in Grenada by almost half. Grenada’s customs administration made trading
faster by simplifying procedures, reducing inspections, improving staff training and enhancing
communication with users.
Hungary Hungary implemented a time limit for the issuance of building permits. Hungary reduced the property
registration fee by 6% of the property value. Hungary simplified taxes and tax bases. Amendments to
Hungary’s bankruptcy law encourage insolvent companies to consider reaching agreements with
creditors out of court so as to avoid bankruptcy.
Jamaica Jamaica eased the transfer of property by lowering transfer taxes and fees, offering expedited
registration procedures and making information from the company registrar available online.
Kazakhstan Kazakhstan eased business start-up by reducing the minimum capital requirement to 100 tenge ($0.70)
and eliminating the need to have the memorandum of association and company charter notarized.
Kazakhstan made dealing with construction permits easier by implementing a one-stop shop related to
technical conditions for utilities. Kazakhstan strengthened investor protections by requiring greater
corporate disclosure in company annual reports. Kazakhstan speeded up trade through efforts to
modernize customs, including implementation of a risk management system and improvements in
customs automation.
Peru Peru eased business start-up by simplifying the requirements for operating licenses and creating an
online one-stop shop for business registration. Peru streamlined construction permitting by
implementing administrative
reforms. Peru introduced fast-track procedures at the land registry, cutting by half the time needed to
register property. Peru made trading easier by implementing a new web-based electronic data
interchange system, risk-based inspections and payment deferrals.
Rwanda Rwanda made dealing with construction permits easier by passing new building regulations at the end
of April 2010 and implementing new time limits for the issuance of various permits. Rwanda enhanced
access to credit by allowing borrowers the right to inspect their own credit report and mandating that
loans of all sizes be reported to the central bank’s public credit registry. Rwanda reduced the number of
trade documents required and enhanced its joint border management procedures with Uganda and other
neighbors, leading to an improvement in the trade logistics environment.
Tajikistan Tajikistan made starting a business easier by creating a one-stop shop that consolidates registration with
the state and the tax authority. Tajikistan strengthened investor protections by requiring greater
corporate disclosure in the annual report and greater access to corporate information for minority
investors. Tajikistan lowered its corporate income tax rate.
Vietnam Vietnam eased company start-up by creating a one-stop shop that combines the processes for obtaining
a business license and tax license and by eliminating the need for a seal for company licensing.
Vietnam made dealing with construction permits easier by reducing the cost to register newly
completed buildings by 50% and transferring the authority to register buildings from local authorities to
the Department of National Resources and Environment. Vietnam improved its credit information
system by allowing borrowers to examine their own credit report and correct errors.
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Zambia Zambia eased business start-up by eliminating the minimum capital requirement. Zambia eased trade by
implementing a one-stop border post with Zimbabwe, launching web-based submission of customs
declarations and introducing scanning machines at border posts. Zambia improved contract
enforcement by introducing an electronic case management system in the courts that provides electronic
referencing of cases, a database of laws, real-time court reporting and public access to court records.
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