Starting a company in Macedonia takes two days

Macedonia is the best positioned among Balkan countries for establishing a company, according to World Economic Forum

Starting a company in Macedonia takes two days

World Bulletin/News Desk

Macedonia is the best positioned among Balkan countries for establishing a company since it takes only two days, according to the World Economic Forum (WEF).

WEF conducted a research in 146 countries analyzing the period of time needed to start a company.

In the Balkans, Albania followed Macedonia – ranked 2nd on the list – and came in 8th place as opening a company takes 4 days. Croatia ranked 43rd with 9 days and Montenegro took 49th place with a duration of 10 days, and Serbia 57th with 12 days.

Bosnia and Herzegovina ranked 120th, the worst among the Balkans, since it takes 37 days to open a company.

According to WEF's research, establishing a company is fastest in New Zealand where the process requires only one day. Australia, Georgia, Macedonia, Hong Kong, Singapore and Rwanda follow close behind.

The worst-ranked countries in terms of the time required to start a business were Brunei, Haiti, Brazil and Venezuela. Suriname ranked last with 694 days, or almost two years.

The WEF's survey on global competitiveness is the best estimate of the competitiveness of national economies. It is a useful portrait of the economic environment and the capacity of countries to achieve sustainable levels of prosperity and economic growth.

Last Mod: 17 Eylül 2013, 14:18
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Robert
Robert - 7 yıl Before

It has taken us almost 2 years and we still a waiting on a VAT return from the Government of Macedonia! With the excessive punative fines, incompetant and bloated administration - there are better places for doing business than Macedonia.

Peter
Peter - 7 yıl Before

Robert must be a Greek refusing to acknowledge he is signing with the Republic of Macedonia.He has name issue?

Robert
Robert - 7 yıl Before

Actually Peter, Robert is a Brit who invested in Macedonia but soon realized that the "Invest in Macedonia" program is just a bunch of BS. Nothing in the Government administration has changed to make it easier to run a business. Petty fines, inspections, dysfunctional court system - these things do not support business.

Peter
Peter - 7 yıl Before

Robert,the World Economic Forum says differently from you.But of course if you don't want to sign with the constitutional name of the Republic of Macedonia,that is different.Don't forget,Macedonia does not use"fakelo"in order to advance your cause as in Greece.Macedonia is not a place of corruption as Greece is!