According to a new Doing Business report for 2020., issued by the World Bank, Croatia has improved its position.
Croatia made some serious progress regarding improving business regulations that should ease the process of investing or starting a business. Compared to 58th place it took in 2019., Croatia ranks 51 for the year 2020.
The report states that the Croatian government made 3 key reforms.
- Starting a business easily by abolishing the requirement to reserve a company name and obtain director signatures for company registration, and by reducing the paid-in minimum capital requirement.
- Less costly construction permits by reducing the water contribution for building a warehouse.
- Easier transfer of property by decreasing the real estate transfer tax and reducing the time to register property title transfers.
“We are encouraged to see Croatia improving its business regulations and narrowing the gap with the global regulatory frontier. The Government chose to focus on easing doing business as one of its top priorities by establishing a working group under the Prime Minister’s watch and efforts made during the past year are reflected in this year’s improved ranking”, said Elisabetta Capannelli, World Bank Country Manager for Croatia.
Read the full report here.
What is the Doing Business report?
The Doing Business project provides objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level.
By gathering and analyzing comprehensive quantitative data to compare business regulation environments across economies and over time, Doing Business encourages economies to compete towards more efficient regulation; offers measurable benchmarks for reform; and serves as a resource for academics, journalists, private sector researchers, and others interested in the business climate of each economy.