The World Bank evaluated and ranked 178 economies worldwide to evaluate the ease of conducting business for its “Doing Business 2008” annual report.

This post was compiled from straightforward stats of each element in individual country profiles, then arranged in ascending/descending order according to favorability, an option not available on the World Bank Web site. It is a convenience provided for my readers — it is not my methodology, and it is not an analysis.

* Those seeking analyses specific to Greece can source a list I included at the end of this post. None of the articles on the list were used to write this one.

Country Selection

For the purpose of this site’s target audience, the field was narrowed to:

a) High income EU member states, which includes Greece (marked in blue);

b) Czech Republic, a high middle income country with nearly the same population as Greece for comparison purposes, to dispel the belief that efficiency is tied to wealth;

c) Bulgaria, a low income country for comparison purposes, to show that new members are not inferior;

d) USA, Canada and Australia, where many of Greece’s immigrants or repatriated citizens hail;

e) Organization for Economic Cooperation and Development (OECD) region average, of which Greece is a member.

It is assumed that those interested in this topic are familiar with the terms and ratings referenced, therefore lengthy explanations on methodology and technical descriptions were not included, although you are free to go directly to the World Bank and view them. Links can be clicked to expand any topic in more detail.

* If your country is not listed above, click the link I’ve provided at the end of each section that will take you to the topic of concern, then find your country on the alphabetical list.

OVERALL RANKING

The overall ranking reflects the performance of each country amongst all elements, including 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.

Each of these elements is given a section below marked in CAPS and color-coded, first showing the overall ranking of countries for that element, then a breakdown of how that ranking was obtained.

As the public sector is a major and often vital factor contributing to economic growth and the creation of jobs, a favorable business climate is essential to the well-being and prosperity of a country’s economy.

3. USA
5. Denmark
6. UK
7. Canada
8. Ireland
9. Australia
11. Norway
13. Finland
14. Sweden
16. Switzerland
19. Belgium
20. Germany
21. Netherlands
25. Austria
31. France
37. Portugal
38. Spain
42. Luxembourg
46. Bulgaria
53. Italy
56. Czech Republic
100. Greece

* See “Rankings” in its entirety

POPULATION AND GNI (GDP)

To get a sense of the westernized and EU countries presented, a ranking according to gross national income (GNI) per capita (Latin for ‘per person’) and respective population is provided.

GNI is the total value of goods and services produced within a country (i.e. gross domestic product or GDP), plus income received from other countries, minus similar payments made to other countries.

Country	GNI/capita	Population
High income
Luxembourg	76,040.00	462,041
Norway	66,530.00	4,643,659
Switzerland	57,230.00	7,441,474
Denmark	51,700.00	5,428,524
Ireland	45,580.00	4,209,446
USA	44,970.00	298,988,098
Sweden	43,580.00	9,045,727
Netherlands	42,670.00	16,371,353
Finland	40,650.00	5,255,049
UK	40,180.00	60,360,799
Austria	39,590.00	8,240,028
Belgium	38,600.00	10,485,710
Germany	36,620.00	82,411,438
France	36,550.00	61,037,508
Canada	36,170.00	32,556,462
Australia	35,990.00	20,520,941
Italy	32,020.00	58,570,995
Spain	27,570.00	43,546,304
Greece	21,690.00	11,112,985
Portugal	18,100.00	10,589,652
High middle income
Czech Republic	12,680.00	10,218,425
Low income
Bulgaria	3,990.00	7,699,020

To view a country’s individual profile, go to the World Bank Doing Business site and select the ‘economy’ of your choice in the right upper corner. All are available in English, Espanol, Francais, Portugues, Russian, Chinese and Arabic.

STARTING A BUSINESS

The ease in starting a business sets the tone for a long and hopefully prosperous relationship between investors and the country of concern.

1. Australia
2. Canada
4. USA
5. Ireland
6. UK
16. Finland
18. Denmark
19. Belgium
22. Sweden
28. Norway
35. Switzerland
38. Portugal
41. Luxembourg
41. Netherlands
65. Italy
71. Germany
83. Austria
91. Czech Republic
100. Bulgaria
118. Spain
152. Greece

See “Starting a Business” in its entirety or view the steps in detail at, “How to start a new business in Greece.”

Procedures

Procedures refers to the bureaucracy and legal hurdles involved for an entrepreneur to register a new business, with the intention of launching a commercial or industrial firm with up to 50 employees.

# of steps	Country
2	Australia, Canada
3	Belgium, Finland, Sweden
4	Denmark, Ireland
5	France
6	OECD, Luxembourg, Netherlands, Norway, Switzerland, UK, USA
7	Portugal
8	Austria
9	Bulgaria, Germany, Italy
10	Czech Republic, Spain
15	Greece

Duration

Duration is the average amount of time spent to complete all business startup procedures.

# of days	Country
2	Australia
3	Canada
4	Belgium
6	Denmark, USA
7	France, Portugal
10	Netherlands, Norway
13	Ireland, Italy, UK
14	Finland
14.9	OECD
15	Sweden
17	Czech Republic
18	Germany
20	Switzerland
26	Luxembourg
28	Austria
32	Bulgaria
38*	Greece
47	Spain

* In reality, it may be more like 180 days; for non-EU citizens, it could be at least a year or never.

Cost

The official cost of completing all procedures to start a business, expressed in percentage of GNI per capita. This figure does not include bribes or other unofficial expenses, which may be required or requested in some countries.

% of GNI/capita	Country
0	Denmark
0.3	Ireland
0.6	Sweden
0.7	USA
0.8	Australia, UK
0.9	Canada
1.0	Finland
1.1	France
2.1	Switzerland
2.3	Luxembourg, Norway
3.4	Portugal
5.1	OECD
5.3	Belgium
5.4	Austria
5.7	Germany
6.0	Netherlands
8.4	Bulgaria
10.6	Czech Republic
15.1	Spain
18.7	Italy
23.3	Greece

Minimum capital

The minimum amount of capital needed to start a business, expressed as a percentage of GNI per capita.

% of GNI/capita	Country
0	Australia, Canada, France, Ireland, UK, USA
7.7	Finland
9.8	Italy
13.7	Spain
13.9	Switzerland
20.1	Belgium
20.5	Luxembourg
23.4	Norway
31.1	Sweden
32.5	OECD
34.7	Portugal
40.7	Denmark
42.8	Germany
34.9	Czech Republic
52.9	Netherlands
55.5	Austria
56.3	Bulgaria
104.1	Greece

DEALING WITH LICENSES

Most businesses need a warehouse, which requires securing licenses and permits, passing inspections and connecting utilities.

6. Denmark
16. Germany
17. France
17. Sweden
20. Ireland
24. USA
26. Canada
29. Switzerland
36. Luxembourg
37. Belgium
39. Finland
40. Austria
42. Greece
46. Spain
52 Australia
54. UK
55. Norway
78. Italy
83. Czech Republic
84. Netherlands
103. Bulgaria
112. Portugal

See “Dealing with Licenses” in its entirety.

Procedures

# of steps	Country
6	Denmark
8	Sweden
11	Ireland, Spain
12	Germany
13	Austria, France, Luxembourg
14	OECD, Belgium, Canada, Italy, Switzerland, Norway
15	Greece
16	Australia
18	Finland, Netherlands
19	UK, USA
20	Portugal
22	Bulgaria
36	Czech Republic

Duration

# of days	Country
38	Finland
40	USA
69	Denmark
75	Canada
100	Germany
116	Sweden
131	Bulgaria
137	France
144	UK
153.3	OECD
154	Switzerland
169	Belgium, Greece
180	Czech Republic
185	Ireland
194	Austria
217	Luxembourg
221	Australia
230	Netherlands
233	Spain
252	Norway
257	Italy
327	Portugal

Average Cost

% of GNI/capita	Country
13.2	Australia
13.4	USA
18.5	Czech Republic
19.4	Luxembourg
19.8	Ireland
24.9	France
46.2	Norway
52.7	Switzerland
54.0	Portugal
61.7	Greece
61.8	Denmark
62.2	OECD
63.1	Germany
63.7	Belgium
64.6	UK
64.9	Spain
73.7	Austria
76.0	Netherlands
106.4	Sweden
122.3	Finland
125.4	Canada
138.2	Italy
499.99	Bulgaria

EMPLOYING WORKERS

1. USA
8. Australia
10. Denmark
19. Canada
20. Switzerland
21. UK
36. Belgium
37. Ireland
55. Czech Republic
56. Italy
57. Bulgaria
62. Austria
92. Netherlands
94. Norway
107. Sweden
127. Finland
137. Germany
142. Greece
144. France
154 Spain
157. Portugal
164. Luxembourg

See “Employing Workers” in its entirety.

Difficulty in hiring

The ease or difficulty in hiring new employees depends not only on the availability or surplus of candidates, but how suited they are to job vacancies (overqualified/underqualified) and labor regulations.

Rating	Country
0	Australia, Denmark, Switzerland, USA
11	Austria, Belgium, Canada, Ireland, UK
17	Bulgaria, Netherlands, Sweden
25.2	OECD
33	Czech Republic, Germany, Italy, Portugal
44	Finland, Greece
61	Norway
67	France, Luxembourg
78	Spain

Rigidity of hours index

Rigidity of hours refers to restrictions on lengthening or shortening the number of working hours. Countries with a ‘0′ rating have the most flexibility, usually offering a number of shifts (day/night/graveyard), part-time/full-time possibilities and job sharing.

Rating	Country
0	Australia, Canada, UK, USA
20	Denmark, Ireland
39.2	OECD
40	Belgium, Czech Republic, Italy, Netherlands, Norway, Switzerland
60	Austria, Bulgaria, Finland, France, Germany, Portugal, Spain, Sweden
80	Greece, Luxembourg

Difficulty of firing index

Ease and expense involved in dismissing a redundant employee.

Rating	Country
0	Canada, USA
10	Australia, Belgium, Bulgaria, Denmark, Switzerland, UK
20	Czech Republic, Ireland
27.9	OECD
30	Spain
40	Austria, Finland, France, Germany, Greece, Italy, Luxembourg, Norway, Sweden
50	Portugal
70	Netherlands 70

Rigidity of employment

Rigidity of employment refers to the average of the above three ratings: difficulty in hiring, rigidity of hours, difficulty in firing.

Rating	Country
0	USA
3	Australia
4	Canada
7	UK
10	Denmark
17	Ireland, Switzerland
20	Belgium
29	Bulgaria
30.8	OECD
31	Czech Republic
37	Austria
39	Sweden
42	Netherlands
44	Germany
47	Norway
48	Finland, Portugal
55	Greece
56	France, Spain
62	Luxembourg

Non-wage labor cost

% of salary	Country
1	Denmark
8	USA
11	Ireland, UK
13	Canada, Luxembourg
14	Norway
15	Switzerland
18	Netherlands
19	Germany
20	Australia
20.7	OECD
23	Bulgaria
24	Portugal
26	Finland
28	Greece
31	Austria
32	Sweden
33	Spain
35	Czech Republic
38	Italy
47	France
55	Belgium

Firing costs (weeks of wages)

The cost of firing a redundant employee. Some countries have regulations that require a payout of compensation, others do not.

# weeks	Country
0	Denmark, USA
2	Austria
4	Australia
9	Bulgaria
13	Norway, Switzerland
16	Belgium
17	Netherlands
22	Czech Republic, UK
24	Greece, Ireland
25.7	OECD
26	Finland, Sweden
28	Canada
32	France
37	Italy
39	Luxembourg
56	Spain
69	Germany
95	Portugal

REGISTERING PROPERTY

Most entrepreneurs require land, a building and/or an office space. The World Bank evaluated this topic on the assumption the property is in the country’s biggest city, previously registered (not newly built) and free of title dispute.

6. Norway
7. Sweden
10. USA
12. Switzerland
17. Finland
17. Australia
19. UK
22. Netherlands
28. Canada
30. Austria
39. Denmark
42. Spain
47. Germany
49. Italy
54. Czech Republic
62. Bulgaria
65. Portugal
79. Ireland
93. Greece
116. Luxembourg
159. France
161. Belgium

See “Registering Property” in its entirety.

Procedures

The number of procedures legally required to register property.

# weeks	Country
1	Norway, Sweden
2	Netherlands, UK
3	Finland
4	Czech Republic, Germany, Switzerland, USA
5	Australia, Ireland, Italy, Portugal
6	Canada, Denmark
6.4	OECD average
7	Belgium
8	Luxembourg, Spain
9	Bulgaria, France
12	Greece

Duration

The average amount of time spent completing procedures.

# of days	Country
2	Sweden
3	Norway
5	Australia, Netherlands
12	USA
14	Finland
16	Switzerland
17	Canada
18	Spain
19	Bulgaria
21	UK
23	Greece
27	Italy
28	OECD
29	Luxembourg
32	Austria
38	Ireland
40	Germany
42	Denmark, Portugal
123	Czech Republic, France
132	Belgium

Cost of registering property

Fees, transfer taxes, stamp duties and other payments for property registry, notaries, public agencies or lawyers. The cost is expressed as a percentage of the property value, assuming a property value of 50 times income per capita.

% property value	Country
0.4	Switzerland
0.5	USA
0.6	Denmark, Italy
1.8	Canada
2.3	Bulgaria
2.5	Norway
3.0	Czech Republic, Sweden
4.0	Finland, Greece
4.1	UK
4.6	OECD
4.5	Austria
4.9	Australia
5.2	Germany
6.1	France
6.2	Netherlands
7.1	Spain
7.4	Portugal
10.2	Ireland, Luxembourg
12.7	Belgium

GETTING CREDIT

According to the World Bank, this section “covers credit information registries and the effectiveness of collateral and bankruptcy laws in facilitating lending to entrepreneurs.”

1. UK
3. Australia
3. Germany
7. Canada
7. Ireland
7. USA
13. Bulgaria
13. Denmark
13. Netherlands
13. Spain
26. Austria
26. Czech Republic
26. Finland
26. Switzerland
36. France
36. Norway
36. Sweden
48. Belgium
68. Italy
68. Portugal
84. Greece
97. Luxembourg

See “Getting Credit” in its entirety.

Legal Rights Index

The Legal Rights Index measures the degree to which collateral and bankruptcy laws facilitate lending, with ‘10′ being the highest rating.

Rating	Country
10	UK
9	Australia
8	Denmark, Germany, Ireland
7	Canada, Netherlands, USA
6.4	OECD
6	Bulgaria, Czech Republic, Finland, France, Luxembourg, Norway, Spain, Sweden, Switzerland
5	Austria, Belgium
4	Portugal
3	Greece, Italy

Credit Information Index

The Credit Information Index assesses rules affecting the scope, access and quality of credit information, with ‘10′ being the highest rating.

Rating	Country
6	Austria, Bulgaria, Canada, Germany, Spain, UK, USA
5	Australia, Czech Republic, Finland, Ireland, Italy, Netherlands, Switzerland
4.8	OECD
4	Belgium, Denmark, France, Greece, Norway, Portugal, Sweden
0	Luxembourg

Public registry coverage

A country’s combined percentage of public and private data should be considered when understanding the full scope of coverage. i.e. The USA has 0% public, but 100% private. Greece, on the other hand, has a combined percentage of 38%.

%	Country
67.1	Portugal
57.2	Belgium
44.9	Spain
25.4	Bulgaria
24.8	France
11.0	Italy
8.6	OECD
4.2	Czech Republic
1.3	Austria
0.7	Germany
0	Australia, Canada, Denmark, Finland, Greece, Ireland, Luxembourg, Netherlands, Norway, Sweden, Switzerland, UK, USA

Private bureau coverage

%	Country
100	Australia, Canada, Ireland, Norway, Sweden, USA
98.1	Germany
84.6	UK
78.1	Netherlands
71.5	Italy
59.3	OECD
53.0	Czech Republic
40.6	Austria
38.7	Greece
24.0	Switzerland
14.9	Finland
11.5	Denmark
11.3	Portugal
8.3	Spain
3.0	Bulgaria
0	Belgium, France, Luxembourg

PROTECTING INVESTORS

Investors must be assured their interests are protected and empowered with an avenue of recourse. This topic measures the strength of minority shareholder protections against misuse of corporate assets by directors for their personal gain.

5. Canada
5. Ireland
5. USA
9. UK
12. Belgium
15. Norway
19. Denmark
33. Bulgaria
33. Portugal
51. Australia
51. Finland
51. Italy
51. Sweden
64. France
83. Czech Republic
83. Germany
83. Spain
98. Netherlands
107. Luxembourg
122. Austria
158. Greece
158. Switzerland

See “Protecting Investors” in its entirety.

Disclosure Index

The Extent of Disclosure Index measures the transparency of transactions, with ‘10′ being the highest rating.

Rating	Country
10	Bulgaria, France, Ireland, UK
8	Australia, Belgium, Canada
7	Denmark, Italy, Norway, USA
6.4	OECD
6	Finland, Luxembourg, Portugal, Sweden
5	Germany, Spain
4	Netherlands
3	Austria
2	Czech Republic
1	Greece
0	Switzerland

Liability

The Extent of Director Liability Index measures the liability for self-dealing, with ‘10′ being the highest rating.

Rating	Country
9	Canada, USA
7	UK
6	Belgium, Ireland, Norway, Spain
5.1	OECD
5	Austria, Czech Republic, Denmark, Germany, Portugal, Switzerland
4	Finland, Italy, Luxembourg, Netherlands, Sweden
3	Greece
2	Australia
1	Bulgaria, France

Shareholder Suits Index

The Ease of Shareholder Suits Index measures the shareholders’ ability to sue officers and directors for misconduct, with ‘10′ being the highest rating.

Rating	Country
9	Ireland, USA
8	Canada, Czech Republic
7	Australia, Belgium, Bulgaria, Denmark, Finland, Norway, Portugal, Sweden, UK
6.5	OECD
5	Italy, Netherlands, France, Germany, Greece
4	Austria, Spain, Switzerland
3	Luxembourg

Investor Protection Index

The Investor Protection Index is the combined strength of all three indices above — Extent of Disclosure Index, Extent of Director Liability Index, Ease of Shareholder Suit Index — with ‘10′ being the highest possible rating.

Rating	Country
8.3	Canada, Ireland, USA
8.0	UK
7.0	Belgium
6.7	Norway
6.3	Denmark
6.0	OECD, Bulgaria, Portugal
5.7	Australia, Finland, Italy, Sweden
5.3	France
5.0	Czech Republic, Germany, Spain
4.7	Netherlands
4.3	Luxembourg
4.0	Austria
3.0	Greece, Switzerland

PAYING TAXES

Paying Taxes addresses taxes and mandatory contributions that a mid-sized company must pay or withhold annually, in addition to administrative burden.

6. Ireland
12. UK
13. Denmark
15. Switzerland
16. Norway
17. Luxembourg
25. Canada
36. Netherlands
41. Australia
42. Sweden
65. Belgium
66. Portugal
67. Germany
76. USA
80. Austria
82. France
83. Finland
86. Greece
88. Bulgaria
93. Spain
113. Czech Republic
122. Italy

See “Paying Taxes” in its entirety.

Tax Payments

Total number of tax payments per year.

#	Country
2	Sweden
4	Norway
8	Portugal, Spain, UK
9	Canada, Denmark, Ireland, Netherlands
10	USA
11	Belgium
12	Australia, Czech Republic
15	Italy
15.1	OECD
16	Germany
17	Bulgaria
20	Finland
21	Greece
22	Austria, Luxembourg
23	France
24	Switzerland

Time

The time it takes to prepare, file and pay or withhold corporate income tax, value added tax (VAT) and social security/insurance contributions.

Hours	Country
58	Luxembourg
63	Switzerland
76	Ireland
87	Norway
105	UK
107	Australia
119	Canada
122	Sweden
132	France
135	Denmark
156	Belgium
170	Austria
180	Netherlands
183.3	OECD
196	Germany
264	Greece
269	Finland
298	Spain
325	USA
328	Portugal
360	Italy 360
616	Bulgaria
930	Czech Republic

Profit tax

The average amount of declared taxes on profits paid by the business, expressed as a percentage of commercial profits. Unofficial or undeclared profits and tax dodging are separate matters and not included.

%	Country
5.4	Belgium
5.9	Czech Republic
6.6	Bulgaria
8.3	France
8.4	Switzerland
14.2	Ireland
15.1	Austria, Greece
15.2	Portugal
16.5	Sweden
16.7	Luxembourg
17.0	Finland
20.0	OECD
21.3	UK
21.6	Germany
23.7	Spain
24.9	Norway
26.0	Canada, Netherlands
26.9	Australia
28.0	Denmark
30.8	Italy

Labor tax and contributions

Labor tax and contributions include mandatory social security contributions paid by the employer both to public and private entities, as well as other taxes or contributions related to employing workers, and is expressed as a percentage of commercial profits. Illegal employment is a separate matter and not included.

%	Country
2.5	Denmark
11.3	UK
12.1	Ireland
12.3	Canada
15.8	Netherlands
15.9	Norway
16.7	Luxembourg
17.2	Switzerland
21.7	Germany
22.2	Australia
22.8	OECD
26.6	Bulgaria
26.8	Portugal
27.1	USA
29.7	Finland
31.7	Greece
34.5	Austria
36.4	Sweden
37.6	Spain
39.5	Czech Republic
43.2	Italy
52.1	France
57.1	Belgium

Other taxes

Mandatory taxes and contributions outside the first two categories.

%	Country
0.8	Spain
1.0	Finland
1.3	Norway
1.5	Australia
1.6	Netherlands
1.7	Sweden
1.8	Belgium
1.9	Greece, Luxembourg
2.2	Italy
2.6	Ireland
2.7	Denmark
2.8	Portugal
3.2	Czech Republic, UK
3.4	OECD
3.5	Bulgaria
3.6	Switzerland
5.0	Austria
5.8	France
7.5	Germany
7.6	Canada
9.5	USA

Total tax rate

Total amount of mandatory taxes and contributions paid by a business, expressed as a percentage of profit.

% of profit	Country
28.9	Ireland
29.1	Switzerland
33.3	Denmark
35.3	Luxembourg
35.7	UK
36.7	Bulgaria
42.0	Norway
43.4	Netherlands
44.8	Portugal
45.9	Canada
46.2	OECD, USA
47.8	Finland
48.6	Czech Republic, Greece
50.6	Australia
50.8	Germany
54.5	Sweden
54.6	Austria
62.0	Spain
64.3	Belgium
66.3	France
76.2	Italy

TRADING ACROSS BORDERS

The bureaucracy and ability to facilitate efficient and timely trade can greatly contribute or hamper a prosperous export/import relationship.

Trading Across Borders examines procedural requirements for exporting and importing a standardized cargo of goods. Every official procedure is counted from the contractual agreement between the 2 parties to the delivery of goods, along with the time necessary for completion. Note that a country’s proximity to the sea did not guarantee a lower cost, faster shipment or higher rating.

2. Denmark
4. Norway
5. Finland
6. Sweden
10. Germany
12. Austria
14. Netherlands
15. USA
20. Ireland
25. France
27. UK
30. Czech Republic
31. Portugal
32. Luxembourg
34. Australia
37. Switzerland
39. Canada
47. Spain
48. Belgium
62. Italy
65. Greece
89. Bulgaria

See “Trading Across Borders” in its entirety.

Documents for export

#	Country
3	Canada
4	Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Netherlands, Norway, Sweden, Switzerland, UK, USA
4.5	OECD
5	Bulgaria, Czech Republic, Greece, Italy, Luxembourg
6	Australia, Portugal, Spain

Time for export

# of days	Country
5	Denmark
6	Luxembourg, Netherlands, USA
7	Canada, Germany, Ireland, Norway
8	Austria, Belgium, Finland, Sweden, Switzerland
9	Australia, Spain
9.8	OECD
11	France
13	UK
16	Czech Republic, Portugal
20	Greece, Italy
23	Bulgaria

Cost to export (per container)

US$	Country
420	Finland
518	Norway
540	Denmark
561	Sweden
580	Portugal
740	Germany
775	Czech Republic
843	Austria
880	Netherlands
905	OECD
930	Australia
940	UK
960	USA
998	Greece
1000	Spain
1028	France
1090	Ireland
1238	Switzerland
1250	Luxembourg
1291	Italy
1329	Bulgaria
1385	Canada
1600	Belgium

Documents for import

#	Country
3	Denmark, Sweden
4	Canada, Ireland, Luxembourg, Norway, UK
5	OECD, Austria, Belgium, Finland, France, Germany, Italy, Netherlands, Switzerland, USA,
6	Australia, Greece
7	Bulgaria, Czech Republic, Portugal
8	Spain

Time for import

# of days	Country
1	Australia
5	Denmark, USA
6	Luxembourg, Netherlands, Sweden
8	Germany, Norway, Austria, Finland
9	Belgium, Switzerland
10	Spain
10.4	OECD
11	Canada
12	France, Ireland
13	UK
16	Portugal
18	Czech Republic, Italy
21	Bulgaria
25	Greece

Cost to import (per container)

US$	Country
420	Finland
468	Norway
540	Denmark
619	Sweden
765	Germany
843	Austria
860	Czech Republic
940	UK
986.1	OECD
994	Portugal
1000	Spain
1005	Netherlands
1120	Australia
1139	Ireland
1148	France
1160	USA
1245	Greece
1250	Luxembourg
1291	Italy
1333	Switzerland
1377	Bulgaria
1425	Canada
1600	Belgium

ENFORCING CONTRACTS

Enforcing Contracts measures the efficiency of contract enforcement by following the evolution of a sale of goods dispute and tracking the time, cost and number of procedures involved from the moment the plaintiff files the lawsuit until actual payment.

2. Luxembourg
6. Austria
7. Finland
8. USA
9. Norway
11. Australia
14. France
15. Germany
22. Belgium
24. UK
25. Switzerland
30. Denmark
36. Netherlands
39. Ireland
43. Canada
49. Portugal
53. Sweden
55. Spain
87. Greece
90. Bulgaria
97. Czech Republic
155. Italy

See “Enforcing Contracts” in its entirety.

Procedures

The number of steps a plaintiff must take from the moment (s)he files a lawsuit in court until payment disbursement.

# of steps	Country
20	Ireland
25	Netherlands
26	Austria, Luxembourg
27	Belgium, Czech Republic
28	Australia
30	France, Sweden, UK
31.3	OECD
32	Switzerland, USA
33	Finland, Germany, Norway
34	Denmark
35	Portugal
36	Canada
39	Greece, Spain
40	Bulgaria
41	Italy

Duration

The average number of calendar days it took to resolve the dispute.

# of days	Country
233	Finland
262	Australia
300	USA
310	Norway
321	Luxembourg
331	France
340	Denmark
394	Germany
397	Austria
404	UK
417	Switzerland
443.3	OECD
505	Belgium
508	Sweden
514	Netherlands
515	Ireland, Spain
564	Bulgaria
570	Canada
577	Portugal
819	Greece
820	Czech Republic
1210	Italy

Cost (% of claim)

Cost of court and attorney fees, where the use of attorneys is mandatory or common, expressed as a percentage of the dispute’s debt value.

% of	Country
8.8	Luxembourg
9.4	USA
9.9	Norway
10.4	Finland
11.8	Germany
12.7	Austria
14.4	Greece
16.2	Canada
16.6	Belgium
17.2	Spain
17.4	France
17.7	OECD, Portugal
20.7	Australia
21.2	Switzerland
22.2	Bulgaria
23.3	Denmark
23.4	UK
24.4	Netherlands
26.9	Ireland
29.9	Italy
31.3	Sweden
33.0	Czech Republic

CLOSING A BUSINESS

According to the World Bank, “Closing a Business identifies weaknesses in existing bankruptcy law and the main procedural and administrative bottlenecks in the bankruptcy process.”

3. Norway
4. Canada
5. Finland
6. Ireland
7. Denmark
8. Netherlands
9. Belgium
10. UK
13. Australia
17. Spain
18. USA
19. Sweden
20. Portugal
21. Austria
25. Italy
29. Germany
32. France
33. Switzerland
38. Greece
46. Luxembourg
72. Bulgaria
108. Czech Republic

See “Closing a Business” in its entirety.

Duration

The average time it takes to close a business, expressed in years.

# of years	Country
0.4	Ireland
0.8	Canada
0.9	Belgium, Finland, Norway
1.0	Australia, Spain, UK
1.1	Austria, Denmark, Netherlands
1.2	Germany
1.3	OECD
1.5	USA
1.8	Italy
1.9	France
2.0	Greece, Portugal, Luxembourg, Sweden
3.0	Switzerland
3.3	Bulgaria
6.5	Czech Republic

Cost (% of income per capita)

Cost of bankruptcy proceedings, expressed as a percentage of income per capita.

%	Country
1	Norway
4	Belgium, Canada, Denmark, Finland, Netherlands, Switzerland
6	UK
7	USA
7.5	OECD
8	Australia, Germany
9	Bulgaria, France, Greece, Ireland, Portugal, Sweden
15	Czech Republic, Luxembourg, Spain
18	Austria
22	Italy

Recovery rate (cents on the $)

Recovery rate calculates how many cents on the dollar that claimants (creditors, tax authorities and employees) can expect to recover from an insolvent firm.

USD$	Country
90.7	Norway
88.8	Canada
88.2	Finland
87.1	Ireland
87.0	Denmark
86.7	Netherlands
85.5	Belgium
84.6	UK
79.2	Australia
76.9	Spain
75.9	USA
74.7	Sweden
74.1	OECD
74.0	Portugal
72.4	Austria
61.8	Italy
53.4	Germany
47.4	France
47.1	Switzerland
44.9	Greece
41.6	Luxembourg
32.4	Bulgaria
21.3	Czech Republic

Sources

Doing Business — World Bank

Sources for those seeking analyses specific to Greece

“Greek Entrepreneurship Report” — Kathimerini (November 2007)

“No grasp of entrepreneurship, originality or management” — Kathimerini (November 2007)

“Business expecting better days” — Athens News Agency (September 2007)

“It’s not privatisation if the state still controls it” — Athens News Agency (September 2007)

“Entrepreneurship floundering” — Athens News (August 2007)

“Greek firms thriving outside Greece” — Kathimerini (June 2007)

“Greece back in EU favour?” — Athens News (April 2007)

Photo from the DoingBusiness.org Web site

* Due to the time-consuming effort to compile stats, arrange rankings and code HTML, the ability to comment will be limited.

When asked by the World Bank, Greece reported that it only took 15 steps and 38 days to start a business. In reality, each of those 15 steps has other steps and the processing time could be 180 days or more, unless connections and bribes are used to speed the process.

This post combines the steps disclosed to the World Bank and the real-life experiences of myself and others who started businesses in the past eight years.

If you’re looking for EU and American businesses already operating in Greece, see the category “Jobs in Greece.” If you’re an American or other non-EU citizen, I highly recommend the article “How Americans/non-EU citizens can move, live and work in Greece.” Why? Because it’s vital to understand legalities of visas and permits.

Pre-screening

If you will be opening a restaurant, club or bar, it is wise to consult with the municipality’s Mayor’s office or City Hall about securing the necessary licenses before starting the steps below and renting/purchasing property. Otherwise, you risk paying costly expenses on a non-operating business.

There is normally a limited number of licenses issued per year, and you may need to be placed on a waiting list or utilize connections to avoid delays.

For non-EU citizens

In addition to the steps detailed in the table and notes in the following sections, Americans and other non-EU citizens are subject to additional terms.

Investors: For non-EU citizens, the requirements are more stringent and costly, namely:
a) proof of 300,000 euros minimum capital;
b) the creation of at least 10 new jobs, of which 30 percent must be given to Greek citizens; and
c) an application and business proposal submitted in Greek proving that the business will “contribute to the growth of Greek economy,” which must be approved by the Ministry of Interior.

Partnering with a Greek or other EU citizen does not absolve you from these rules.

Self-employment: If you are not an investor with the intention of employing workers, but looking to be self-employed, the procedure is reduced to steps #4 and #10-15 after:
a) holding a residence permit for one year — usually one that requires you are a spouse of a Greek or other EU citizen or one secured by independent financial support from outside Greece;
b) depositing 60,000 euros in a Greek bank account; and
c) submitting an application and business proposal in Greek proving that the business will “contribute to the growth of Greek economy,” which must be approved by the Ministry of Interior.

For both investors and self-employment, rejection or approval could take up to 1 year.

Because of stringent rules, corruption and involved bureaucracy, investors of all nationalities sometimes opt for another country (see, “Who really steals jobs from Greeks?“).

New rules for employers in Greece

In February 2008, the Interior Ministry of Greece announced that new rules will apply to all employers seeking to fill positions with non-EU workers.

Specifically, a private employer will be required to show an annual income of 24,000 euros or more and companies must show a yearly profit of 60,000 euros before opening positions to non-EU workers from abroad.
Overview

#	Description	Days	Cost (€)
1	Get approval of the company’s name from Chamber of Commerce and Industry	1	33
2	File company documents with Athens Bar Association	1	10 + levy %
3	Sign Articles of Incorporation before a notary public	5	up to 1320
4	Deposit capital in a bank	1
5	Pay capital tax to the Eforia-DOY	1	1%
6	Get a stamp from the Lawyers’ Pension Fund	1	0.30
7	Get certification by the Lawyers Welfare Fund	1	5.80
8	Submit Articles of Incorporation and register with Court secretariat to get a register number	1	5+
9	Submit Articles of Incorporation summary for publication in Official Gazette (FEK)	26+	272
10	Register at the Chamber of Commerce and Industry	1	147 + 2.4%
11	Register with TEBE, OGA, etc.	1
12	Get an AFM (tax no.) for the business	1
13	Commission a vendor to make a stamp/seal	1	40
14	Have the Eforia punch company receipt books and accounting log	1
15	Notify Manpower (OAED) within 8 days of hiring a worker	1

Notes for each step

It is general knowledge that anyone partaking in Greek bureaucracy will need to have identification, several photocopies of various documents, passport sized photos, the ability to speak Greek and a lot of patience. Offices are located in different parts of a city and revisiting the same office (i.e. eforia/tax office) within a process is common.

Many employ an attorney or accountant to assist, though some manage well on their own as I did. Finding a patient friend with a car or hiring a taxi driver for the day is sometimes a solution to delays in public transportation, parking issues and finding a taxi on demand. I also recommend carrying spare change, an office kit (pen, pencil, liquid paper, stapler, paper clips) and a map book.

Step 1: Forms must be filled out in Greek, and you will be given a certified document when approved.

Step 2: All applicants pay €10 for certification of an attorney’s signature on the draft. A levy must be paid when a company’s capital exceeds €29,347, and the percentage depends on the bracket.
a) 1% up to € 44,020
b) 0.5% from € 44,020 to € 1,467,351
c) 0.4% from € 1,467,351 to € 2,934,702
d) 0.3% from € 2,934,702 to € 5,869,405
e) 0.2% from € 5,869,405 to € 14,673,514
f) 0.1% from € 14,673,514 to € 29,347,028
g) 0.05% from € 29,347,028 to € 58,694,057
h) 0.01% on capital exceeding € 58,694,057

Step 3: Found normally by recommendation of a lawyer, the notary public examines and certifies the articles. Fees vary widely.

Step 4: The minimum capital requirement is said to be € 18,000, which could be lower or higher depending on your citizenship as mentioned previously and the type of business being opened.

Step 5: Capital tax must be paid at the eforia within 15 days of signing the Articles of Incorporation at the notary public or a penalty will be assessed. Depending on the amount, the eforia may request that a payment check be drafted at your bank, then signed and certified by two tax officials at the eforia before going to the cashier for a receipt.

Step 6: The Lawyer’s Pension Fund in Athens is at Pireos and Sokratous Streets. * I will add other addresses as I learn them.

Step 7: The Lawyer’s Welfare Fund in Athens is at Harilaou Trikoupi and Navarinou Streets. * I will add other addresses as I learn them.

Step 8: To complete this step, you will need two copies of the Articles– one certified and one simple.

Step 9: A portion of the 272 euro fee must be paid to the eforia and another portion to the National Printing Office; both issue receipts, and these must be taken to the official Government Gazette or Fyllo Efimeridas tis Kyverniseos (FEP), which will give you a protocol number. Publication of your Articles will take place within 30-60 days.

Step 10: To register at the Chamber of Commerce and Industry, you need:
a) Notarized copy of the Articles stamped by the eforia, the Lawyers’ Pension Fund, the Lawyers’ Welfare fund
b) certification of prior approval of company name (from Step 1)
c) an original of the Government Gazette containing the published summary of the Articles of Association (it is acceptable to file the protocol number, then replace it with the published issue)
d) * Note: My experience is that the Chamber will ask for proof of your personal AFM and official registered address at the eforia, in addition to proof of insurance, which means steps 10 and 11 should be reversed unless you have an existing policy.

Step 11: Registering with TEBE, OGA or another insurance fund (not IKA) depends on the type of business being started. Typically, you will be asked to fill out a form, provide photocopies of your identification, previous insurance coverage, proof that you are opening a business and the location (lease), and pay a deposit and the first months’ fees. A TEBE office will normally require that you deposit the money at the post office or other payment location, then bring back the receipt; I have no specific info on OGA or other types.

Step 12: The Etairia Periorismenis Efthinis (EPE) must issue approval to commence operation within 30 days of submitting the Articles of Association to the Court. The statement is filed with the eforia, along with:
a) Certified copy of the company’s official Articles
b) two original copies of the Government Gazette, in which the Articles were published
c) lease agreement or agreement for the free assignment of use of the office space, certified by the eforia
d) certificate from the Chamber of Commerce that you have registered
e) certification from the relevant social security fund that you (and your partners) have registered for insurance or have an exemption
f) photocopy of the receipt of payment of capital tax (from Step 5)
g) photocopy of your identification
h) proof of an individual’s AFM
i) authorization letter from the EPE administrator to the individual who will file taxes/docs at the eforia (owner, accountant or other)
j) completed application forms provided by the eforia

After submitting the above documents, the eforia provides the EPE with a certificate for the commencement of business operations and the AFM for your business.

Step 13: A self-inking rubber stamp (sfragida) can now be commissioned from any local shop with the company name, address, phone and AFM. It is necessary for issuing receipts, submitting tax forms and all transactions pertaining to your business at the eforia. You’ll need it immediately for Step 14.

Step 14: Purchase an accounting log and receipt books at any office or school supply store, and use the company stamp to imprint the accounting log and every single page of receipt books. Now they are ready for the eforia to punch, and a document pertaining to what was punched is issued.

Step 15: When hiring a worker, you are obligated to provide a proper work contract (Anaggelia Gnostopoihsis oron Atomikis Symbasis Ergasias) and employer certification (Bebaiosi Ergodoti), so employees can get an AFM, sign up for IKA and apply for a residence/work permit (if applicable).

Business grants

Greece does not offer grants to entrepreneurs wishing to start a business. However, there are grants available to those with an established business, should the owner wish to renovate or improve a business that contributes to the local Greek economy.

Greece vs. other countries

An article I compiled called “Doing Business in Greece vs. the EU, USA, Australia and Canada” is a straightforward comparison based on the World Bank’s Doing Business 2008 report that evaluated vital elements in setting up a business, then ranked economies according.

Other articles of interest include, “Examples of jobs and salaries in Athens” for real-life case studies of Greek and non-EU business owners.

Sources

- “World Bank slams Greece” - Athens News
- 2008 Doing Business Report from the World Bank
- “What Greece’s new immigration law says” - Athens News (from 2005, but no reforms were introduced or implemented since)
- “Creative youngsters shun bosses and go it alone” - Kathimerini ‘K’ magazine
- Official documentation I collected then translated from Greek and personal notes taken over 5 years
- Recent experiences of Greek and EU citizens
- Experiences of non-EU citizens who started businesses before the 2005 rules came into effect, including myself

Article updated March 25, 2008

–
Photo from assignmentdesk.net

Each year, Eurostat compiles statistics on all European member states that concern average working hours, employment rates for men and women, lifelong learning, taxes, wages and retirement age. Most of those categories are covered below and presented as a general overview.

Statistics on EU countries were taken directly from Eurostat, and those for the USA were either included in the same survey or extracted from U.S. government Web sites.

It is a straightforward list, not an analysis. I arranged them in ascending or descending order to facilitate easier viewing and comparison.

Average working hours per week

United States - 46.0
Austria — 42.4
UK — 42.4
Latvia — 42.2
Estonia — 41.0
Switzerland — 41.0
Spain — 40.9
Greece – 40.7
EU average — 40.5
Germany — 40.3
Portugal — 40.1
Luxembourg — 40.0
Cyprus — 39.9
Sweden — 39.9
Denmark — 39.4
Italy — 39.3
Finland — 39.2
France — 39.1
Belgium — 39.0
Netherlands — 38.9
Norway — 38.6

*Based on 2006 stats

Employment Rate by Gender

Percentage of total women/men aged 15 to 64, designating themselves as workers, employed as of 2006. Figure does not include those who are unemployed by choice or willingly refuse offers of work.

Women:

Denmark — 73.4
Norway — 72.2
Switzerland — 71.1
Sweden — 70.7
Netherlands — 67.7
Finland — 67.3
United States — 66.1
United Kingdom — 65.8
Estonia — 65.3
Austria — 63.5
Germany — 62.2
Portugal — 62.0
Cyprus — 60.3
Ireland — 59.3
France — 57.7
EU average — 57.2
Eurozone average — 56.6
Belgium — 54.0
Spain — 53.2
Poland — 48.2
Greece – 47.4
Italy — 46.3

Men:

Switzerland — 84.7
Denmark — 81.2
Netherlands — 80.9
Cyprus — 79.4
Norway — 78.4
United States — 78.1
Ireland — 77.7
United Kingdom — 77.3
Austria — 76.9
Spain — 76.1
Sweden — 75.5
Greece – 74.6
Portugal — 73.9
Germany — 72.8
Eurozone Average — 72.6
EU Average — 71.6
Finland — 71.4
Estonia — 71.0
Italy — 70.5
France — 68.5
Belgium — 67.9
Poland — 60.9

Tax burden on low wage earners

Cyprus — 19.9
Ireland — 19.9
Switzerland — 26.7
United States — 26.7
Luxembourg — 29.8
United Kingdom — 29.9
Portugal — 31.7
Norway — 34.3
Greece – 34.4
Spain — 35.7
Denmark — 39.3
EU average — 39.4
Finland — 39.5
Estonia — 39.8
Netherlands — 41.3
France — 41.4
Italy — 41.7
Eurozone average — 42.3
Poland — 42.4
Austria — 42.5
Sweden — 46.5
Germany — 46.7
Belgium — 49.1

*Based on latest stats from 2005

Lifelong learning

Percentage of female/male population aged 25 to 64 participating in education and training as of 2006 (except where indicated). Ongoing education is an investment that builds value in both employees and companies by creating a work force that is skilled, viable and highly competitive.

Women:

United States — 43.2 (2005)*
Sweden — 36.5 (2005)
Denmark — 33.8
United Kingdom — 31.2
Finland — 27.0
Switzerland — 26.5 (2005)
Norway — 20.2
Netherlands — 15.9
Austria — 14.0
Spain — 11.5
EU average — 10.4
Latvia — 9.3
Ireland — 8.9
Luxembourg — 8.7
Eurozone average — 8.6
Estonia — 8.6
France — 7.8
Cyprus — 7.8
Belgium 7.6
Germany — 7.3
Italy — 6.5
Poland — 5.1
Portugal — 4.0
Greece – 1.8
Bulgaria — 1.3

Males:

United States — 43.2 (2005)*
Sweden — 27.9 (2005)
Switzerland — 27.4 (2005)
Denmark — 24.6
United Kingdom — 22.0
Finland — 19.3
Norway — 17.2
Netherlands — 15.3
Slovenia — 13.8
Austria — 12.2
Spain — 9.3
EU average — 8.8
Eurozone average — 7.9
Germany — 7.8
Luxembourg — 7.6
Belgium — 7.4
France — 7.2
Cyprus — 6.5
Ireland — 6.1
Italy — 5.7
Poland — 4.3
Estonia — 4.2
Portugal — 3.7
Greece – 2.0
Romania — 1.6

*Figure is given as a total for both men and women aged 25 to 64 participating in work-related training or education courses

Employment of mature workers

The 2006 employment rate of older female/male workers is calculated by dividing the number of women aged 55 to 64 in employment by the total female/male population in the same age group. Total population includes those living in private households and excludes those in collective households such as boarding houses, halls of residence and hospitals. Employed population consists of those persons who during the reference week did any work for pay or profit for at least one hour, or were not working but had jobs from which they were temporarily absent.

Women:

Sweden — 66.9
Norway — 61.6
Estonia — 59.2
Switzerland — 56.6
United States — 56.5
Finland — 54.3
Denmark — 54.3
United Kingdom — 49.1
Latvia — 48.7
Portugal — 42.78
Germany — 40.6
Ireland — 39.1
Netherlands — 37.2
Cyprus — 36.6
France — 35.2
EU average — 34.8
Eurozone average — 33.0
Bulgaria — 31.1
Spain — 28.7
Luxembourg — 27.8
Greece – 26.6
Austria — 26.3
Belgium — 23.2
Italy — 21.9

Men:

Switzerland — 74.9
Norway — 73.1
Sweden — 72.3
Cyprus — 71.6
United States — 67.5
Denmark — 67.1
Ireland — 67.0
United Kingdom — 66.0
Spain — 60.4
Czech Republic — 59.5
Latvia — 59.5
Greece – 59.2
Portugal — 58.2
Netherlands — 58.0
Estonia — 57.5
Germany — 56.4
Finland — 54.8
EU average — 52.6
Eurozone average — 50.8
Austria — 45.3
Italy — 43.7
Belgium — 40.9
France — 40.1
Luxembourg — 38.7

Average retirement age

Women:

Poland — 57.4
Luxembourg — 58.7
Italy — 58.8
France — 59.1
Austria — 59.4
Belgium — 59.6
EU Average — 60.4
Denmark — 60.7
Greece – 61.0
Germany — 61.1 (2004)
Netherlands — 61.4
Finland — 61.7
United Kingdom — 61.9
Switzerland — 62.0
United States — 62.6*
Spain — 62.8
Sweden — 63.0
Norway — 63.1
Portugal — 63.8
Ireland — 64.6

Men:

France — 58.5
Austria — 60.3
Italy — 60.7
Denmark — 61.2
EU Average — 61.4
Germany — 61.4 (2004)
Belgium — 61.6
Netherlands — 61.6
Finland — 61.8
Spain — 62.0
Poland — 62.0
Portugal — 62.4
Greece – 62.5
United States — 62.7*
Norway — 63.1
Switzerland — 63.1
United Kingdom — 63.4
Ireland — 63.6
Sweden — 64.3

Latest stats from 2005, except where indicated.

*Inaccurate due to many returning to work after retirement

Notes

EU average = average calculated using the 27 member states.

Eurozone average = average calculated using member states using the euro common currency.

Related posts

“Doing business in Greece vs. the EU, Australia, Canada and USA“
“Minimum monthly salaries of EU countries“
“Benefits of living in the EU vs. USA“

Sources

- Eurostat
- U.S. Department of Labor - Bureau of Labor Statistics
- Library Spot
- Social Security Administration
- San Diego Tribune
- National Center for Education Statistics
- Athens News
- Kathimerini