Nacion.com reports: "This improvement in opening a business is part of the actions undertaken by the Government to facilitate procedures and which has earned the country a jump of seven places in the ranks of the Doing Business 2014 report ...".

The country managed place itself below the regional average of 36 days in nine steps but this was not enough to beat the average of countries in the Organization for Economic Cooperation and Development (OECD) which is 11 days and five steps. Costa Rica aims to be part of this organization.

The report prepared by the World Bank reveals that progress was achieved through the implementation of "CrearEmpresa" a website where companies can register as taxpayers, and with the Social Security Department and where they can process various permits.

Source: Nacion.com

More on this topic

Starting Up a Business in Nicaragua Takes 36 Days

November 2013

It is the longest amount of time in the entire Central American region for formalizing a new business.

Laprensa.com.ni reports: "While in Panama it takes five days to open a business, in the case of Nicaragua 36 days are needed, the longest in all of Central America, according to the Doing Business Report 2014, by the World Bank (WB) ... ".

Procedures for Business Registration Streamlined

May 2012

The Ministry of Economy in Guatemala has presented "Ventanilla Ágil Plus" (Agile Counter Plus), which will reduce the time for registering a business.

From a press release from the Ministry of Economy of Guatemala (Mineco):

- 30 steps to register companies eliminated reducing the process from 47 to 17 days.

In the Kingdom of Bureaucracy

June 2009

The long processes to start a company in Costa Rica do not seem so bad for Latin America, but they are unacceptable at the international level.

When a country wants to enter the global market as a means for progress and economic and social development, it should offer expedited pathways for investors and entrepreneurs to start a business or to facilitate introducing their products and services to the economy.

Latin America Cutting Red Tape -- Slowly

September 2008

If you are thinking of starting a business in Latin America, arm yourself with patience.

It takes 20 times longer to open a company in many countries in the region than in the United States, Singapore or New Zealand.

According to a new report by the World Bank's International Finance Corp., several Latin American countries continue to be among the world champions of bureaucracy, while Eastern European, Asian and African countries are moving much faster to reduce government red tape, making it easier for its people to start new businesses.