Based on information from our own network, published data from the World Bank / European Commission and other business sources, we have compiled the following chart, that shows -for the main EU member countries-,
How long it takes to open a company in a given jurisdiction,
Number of standardized procedures needed in order to legally start the business,
COUNTRY
TIME (days)
# OF STEPS
Belgium
29
5
France
10
8
Germany
26
11
Italy
14
10
Netherlands
11
7
Denmark
5
4
Ireland
20
5
United Kingdom
20
8
Greece
45
18
Portugal
9
8
Spain
52
12
Austria
32
10
Finland
15
4
Sweden
17
4
Czech Republic
25
11
Estonia
38
7
Hungary
39
7
Latvia
18
6
Lithuania
28
9
Poland
34
10
Slovakia
27
12
Slovenia
65
12
Bulgaria
34
12
Romania
14
7
Average 24 Union States
26
9
There is considerable variation in the typical time it takes to establish a company in the different countries. For an enterprise, this ranged between 5 and 65 business days, with an average of 26.
When it comes to formalities, companies have to deal, on average, with 9 procedures, and, in exceptional instances as many as 18. They also have to negotiate a labyrinth that could involve up to ten contact points, + 25 official forms and documents, 12 licenses and communicate with 15 public and private bodies.
Depending on the country, the types of Business Entities can be
