It is Easier to Start a Business in Portugal Than in the US
Portugal has risen 6 positions in the ranking of Ease of Doing Business published by the World Bank. In the latest report Portugal ranks 25th (out of 189 countries).
In the aftermath of sweeping structural reforms Portugal keeps improving its positioning regarding the Simplicity of Doing Business, coming out in front of countries like The Netherlands, France, Spain, Italy, Japan or Poland.
This performance is due mainly to improvements in the regulatory environment. The WB highlights the tax reforms – reduction of corporate taxes – and the lessening of legal and bureaucratic hurdles that has made contracts compliance significantly easier.
In the Starting a Business category Portugal ranks 10th, ahead of countries like Italy, the UK, US and Finland among others.
According to the mentioned report “Portugal reduced the time and cost to start a business in 50%. The result was an increase of 17% in the number of newly created companies”.