2009 World Bank “Doing Business Indicators” have just been issued and New Zealand has been ranked as the easiest place on earth to start a new business.
Starting a Business indicators evaluates the steps & and expenses related to forming a new business. This excellent result is primarily attributed to the Companies Office & Inland Revenue Department’s shared project which allows new companies to apply for IRD numbers and also apply for GST registration at the same time, during its incorporation.
Additional factors that contributed were New Zealand’s recently lowered company income tax rates and revised insolvency legislation.
New Zealand also retained its second place in the overall Ease of Doing Business ratings; ranked second only behind Singapore – further showing New Zealand as an excellent overall performer overall. The Ease of Business results is an annual initiative carried out by the World Bank which evaluates more than 180 countries’ economy and policy frameworks. It evaluates each country’s regulatory framework and how that structure translates to achieving regulatory targets – for example: providing separate legal identities businesses.