Country Days to Start a Business Days to Obtain a Business License

Iran 9 322

Israel 34 225

Qatar 6 115

Saudi Arabia 5 105

Rest of the World (average) 35 218

According to this chart, which country is likely to have the MOST economic freedom with regards to entrepreneurship?

A) Iran

B) Qatar

C) Israel

D) Saudi Arabia

The correct answer is - D) Saudi Arabia.

Explanation:

Economic freedom is the ability of people to take economic actions in the country. In Saudi Arabia it takes the least amount of days to start a business and to obtain a business license, comparing to other presented countries.

Here it takes 5 days to create a company (namely, registering its name, address and owners) and 105 days to obtain a licence to operate in the country.

Company can be functional and legal, even without business licence, but in most cases, a business licence is needed to carry out its business activities at full. For example, to participate in a tender.