Economies that rank high on the ease of doing business tend to combine efficient regulatory processes with strong legal institutions that protect property and investor rights. OECD high-income economies have, by a large margin, the most business-friendly regulatory environment on both dimensions. Regions such as East Asia and the Pacific and the Middle East and North Africa have relatively efficient regulatory processes but still lag in the strength of legal institutions relevant to business regulation. Good practices around the world provide insights into how governments have improved the regulatory environment.
- Making it easy to start a business
o Putting procedures online
o Having no minimum capital requirement
o Having a one-stop shop
- Making it easy to register property
o Using an electronic database for encumbrances
o Offering cadastre information online
o Offering expedited procedures
- Protecting investors
o Allowing rescission of prejudicial related-party transactions
o Regulating approval of related-party transactions
o Requiring detailed disclosure
o Allowing access to all corporate documents during the trial
o Requiring external review of related-party transactions
o Allowing access to all corporate documents before the trial
o Defining clear duties for directors
- Making it easy to pay taxes
o Allowing self-assessment
o Allowing electronic filing and payment
o Having one tax per tax base
- Making it easy to trade across borders
o Allowing electronic submission and processing
o Using risk-based inspections
o Providing a single window
- Making it easy to enforce contracts
o Making all judgments in commercial cases by first-instance courts publicly available in practice
o Maintaining specialized commercial court, division or judge
o Allowing electronic filing of complaints
- Making it easy to resolve insolvency
o Allowing creditors’ committees a say in insolvency proceeding decisions
o Requiring professional or academic qualifications for insolvency administrators by law
o Specifying time limits for the majority of insolvency procedures
o Providing a legal framework for out-of-court workouts
Source: Doing Business Report 2013, International Bank for Reconstruction and Development / The World Bank