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Country scores low in ease-of-doing-business index The country finished second to last among Central American states in an assessment of the ease of doing business here. The rating was by the World Bank Group - International Finance Corp., which awarded Costa Rica 125th place among nations of the world. The report, released Tuesday, ranked Costa Rica 116th in the ease of starting a business. It said doing that requires 13 procedures and takes about 60 days. The report also said that getting a construction permit requires 23 procedures and takes an average of 191 days. The ranking in this category was 131. The country fared better in an assessment of how long it takes to register property (21 days and six procedures) and the ease of getting credit (65th place). Costa Rica got bad marks for protecting investors (167th place), paying taxes (155th place) with an estimated 42 different payments by businesses each year and an average investment of 272 work hours to compute them and in enforcing contracts (130th place). The report said that legal steps to enforce a contract averaged 852 days. Even closing a business was difficult, the report said. Costa Rica ranked 114th in this area. The report also said that Costa Rica had not made any legislative changes that affected the rating in the last year. Singapore, Hong Kong, New Zealand, the United Kingdom, the United States, Denmark and Canada were ranked from one to seventh in that order. | |
This news article ties in nicely with the topic we were discussing in class recently.Try to look at The Deloitte guide to Doing business in Costa Rica;it shows very clearly the framework that is required to operate a business in Costa Rica.
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