11 Steps to starting a business in UAE _ GulfNews.com s invest gold

Singapore has the fastest turnaround period of just three days to handle a container of import shipment – from clearing the paperwork, clear the container from the port to transfer to company warehouse and unpacking. The same is done in 20 days in saudi arabia, 38 days in lebanon and 101 days in iraq – the report says.

Traders shell out $462 to clear a container for either importing or exporting goods through the UAE ports while the same costs $367 in singapore, $758 in saudi arabia, $935 in kuwait, $1,900 in syria and $3,400 in iraq.

It takes on an average of only 12 hours to pay taxes or fees in the UAE – the least time in the world – compared to 62 hours in oman, 79 hours in saudi arabia, 180 hours in lebanon and 711 hours in egypt.

In lebanon, resolving a commercial dispute in the courts take 721 days on average, and in the UAE the process involves 50 procedures from the moment the plaintiff files a lawsuit in court until the moment of payment.S invest gold

The UAE has one of the lowest recovery rates in bankruptcy, at 10.1 per cent compared to 33.6 per cent in kuwait, 30.8 per cent in syria, 51.5 per cent in tunisia and 92.6 per cent in japan – the best recovery rate in the world.

Egypt cut the minimum capital required to start a business, from 50,000 egyptian pounds to just 1,000 and halved the time and cost of start-up. It reduced fees for registering property from 3 percent of the property value to a low, fixed amount. It eased the bureaucracy that builders face in getting construction permits.

Saudi arabia — the seventh-fastest reformer globally and second-fastest in the region — joined the ranks of the top 25 countries worldwide on the ease of doing business. It had reforms in three of the 10 areas studied.

Saudi arabia, the runner-up reformer in the region, eliminated the minimum capital requirement of 1,057 per cent of income per capita and reduced the days needed for company start-up from 39 to 15.S invest gold it launched a commercial credit bureau whose reports include the credit exposure of companies.

The middle east and north africa saw 22 reforms in all—and three negative changes—in 11 of its economies. The region ranks fourth in the world—behind eastern europe and central asia, south asia, and the OECD high-income countries—on the pace of reform.

Large emerging markets are reforming fast: egypt, china, india, vietnam, and turkey all improved in the ease of doing business. The report also finds that as more countries simplify regulation to make it easier to do business, more entrepreneurs are going into business.

3. Regulations affecting 10 stages of a business’s life are measured such as: starting a business, dealing with licenses, employing workers, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and closing a business.S invest gold

4. Doing business 2008 ranks 178 economies on the ease of doing business, including 46 in sub-saharan africa, 31 in latin america and the caribbean, 28 in eastern europe and central asia, 24 in east asia and pacific, 17 in the middle east and north africa and 8 in south asia—as well as 24 OECD high-income economies as benchmarks.

6. The others in the top 25 are, in order, new zealand, USA, hong kong (china), denmark, UK, canada, ireland, australia, iceland, norway, japan, finland, sweden, thailand, switzerland, estonia, georgia, belgium, germany, the netherlands, latvia, saudi arabia, malaysia, and austria.

Singapore has the fastest turnaround period of just three days to handle a container of import shipment – from clearing the paperwork, clear the container from the port to transfer to company warehouse and unpacking.S invest gold the same is done in 20 days in saudi arabia, 38 days in lebanon and 101 days in iraq – the report says.

Traders shell out $462 to clear a container for either importing or exporting goods through the UAE ports while the same costs $367 in singapore, $758 in saudi arabia, $935 in kuwait, $1,900 in syria and $3,400 in iraq.

It takes on an average of only 12 hours to pay taxes or fees in the UAE – the least time in the world – compared to 62 hours in oman, 79 hours in saudi arabia, 180 hours in lebanon and 711 hours in egypt.

In lebanon, resolving a commercial dispute in the courts take 721 days on average, and in the UAE the process involves 50 procedures from the moment the plaintiff files a lawsuit in court until the moment of payment.

The UAE has one of the lowest recovery rates in bankruptcy, at 10.1 per cent compared to 33.6 per cent in kuwait, 30.8 per cent in syria, 51.5 per cent in tunisia and 92.6 per cent in japan – the best recovery rate in the world.S invest gold

Egypt cut the minimum capital required to start a business, from 50,000 egyptian pounds to just 1,000 and halved the time and cost of start-up. It reduced fees for registering property from 3 percent of the property value to a low, fixed amount. It eased the bureaucracy that builders face in getting construction permits.

Saudi arabia — the seventh-fastest reformer globally and second-fastest in the region — joined the ranks of the top 25 countries worldwide on the ease of doing business. It had reforms in three of the 10 areas studied.

Saudi arabia, the runner-up reformer in the region, eliminated the minimum capital requirement of 1,057 per cent of income per capita and reduced the days needed for company start-up from 39 to 15. It launched a commercial credit bureau whose reports include the credit exposure of companies.S invest gold

The middle east and north africa saw 22 reforms in all—and three negative changes—in 11 of its economies. The region ranks fourth in the world—behind eastern europe and central asia, south asia, and the OECD high-income countries—on the pace of reform.

Large emerging markets are reforming fast: egypt, china, india, vietnam, and turkey all improved in the ease of doing business. The report also finds that as more countries simplify regulation to make it easier to do business, more entrepreneurs are going into business.

3. Regulations affecting 10 stages of a business’s life are measured such as: starting a business, dealing with licenses, employing workers, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and closing a business.S invest gold

4. Doing business 2008 ranks 178 economies on the ease of doing business, including 46 in sub-saharan africa, 31 in latin america and the caribbean, 28 in eastern europe and central asia, 24 in east asia and pacific, 17 in the middle east and north africa and 8 in south asia—as well as 24 OECD high-income economies as benchmarks.

6. The others in the top 25 are, in order, new zealand, USA, hong kong (china), denmark, UK, canada, ireland, australia, iceland, norway, japan, finland, sweden, thailand, switzerland, estonia, georgia, belgium, germany, the netherlands, latvia, saudi arabia, malaysia, and austria.