Starting a Business in Asean Countries

Only available on StudyMode
  • Download(s) : 124
  • Published : May 12, 2013
Open Document
Text Preview
ASEAN

Legal:
There are different legal issues that could arise from introducing Clean Energy to ASEAN countries; the duration of the incorporation processes and restrictions differ widely between each country, and there are procedural steps which need to be considered. A good indicator used to compare countries in terms of legal restrictions in foreign businesses is the ease of establishment index, which bases itself on areas such as the minimal capital requirements, requirements of an investment approval, availability of electronic services or business registration processes (World Bank Group 2013). With the only exception of Singapore, all of the ASEAN countries are under the global average of 64.5 on the ease of establishment index (Starting a business in ASEAN 2012), which demonstrates that most of them have longer integration procedures and steps. Singapore has an ease of establishment index of 78.9 and is the fastest and easiest ASEAN country in which to start up a business; with only 4 procedures and 9 days to complete the process (Doing Business 2013). An application for business registration needs to be completed through the Singapore Accounting and Corporate Regulatory Authority, which can all be monitored online. There is also no minimum capital requirement for foreign entering businesses. On the other hand, Vietnam has a much slower integration time and many more procedures. With an ease of establishment index of 57.9 and a 94 day waiting time for start-up, Vietnam is the slowest ASEAN country to integrate a foreign business in. There are many time consuming steps in incorporating a firm in Vietnam, including translating all legal documents into Vietnamese and getting them approved by the Vietnamese department of foreign affairs

References:
-World Bank Group 2013 Starting a Foreign Business Methodology, available from <http://iab.worldbank.org/Methodology/Starting-a-Foreign-Business> [2013]. - Starting a business in ASEAN 2012...
tracking img