Worldwide Tentmakers
Tentmaker Reports
Worldwide Tentmakers Free Reports

Suriname Report

Entrepreneurial Missions Index

34.87

General Information

Population

524,636 (157th most populous country in the world)

Religions

Languages

Hindu 24.7% Dutch   
Protestant 25.2% English
Roman Catholic   22.8% Sranang Tongo
Muslim 19.6% Caribbean Hindustani 
Indigenous Beliefs     5.0% Javanese

Industries

Bauxite and gold mining, alumina production, oil, lumbering, food processing, fishing

Unless otherwise noted, all information included here was obtained from the World Factbook project 4, conducted by the Central Intelligence Agency (CIA). For more detailed information about Suriname, visit https://www.cia.gov/library/publications/the-world-factbook/geos/sr.html.

Business Information

The World Bank ranks Suriname as 0 out of 183 economies in terms of ease of doing business. The country ranks as 0 (of 183) in terms of ease of starting a business.

It requires 0 procedures, takes 0 days, and costs N/A% of income per capita to start a business in Suriname.

The World Bank ranks Suriname as 155th out of 183 economies in terms of ease of doing business.  The country ranks as 171st (of 183) in terms of ease of starting a business.

It requires 13 procedures, takes 694 days, and costs 112.8% of income per capita to start a business in Suriname.

In order to start a business in Suriname, one must follow these procedures:

  1. Deposit paid-in minimum capital
  2. Verify uniqueness of company name
  3. Obtain extract and nationality declaration from the Civil Registry of each founder
  4. Pay fee at the Accountancy and Finance Department of the Ministry of Justice and Police
  5. Pay fee at the Districts Commissioner
  6. Draft and notarize company articles of association
  7. Apply for company registration at the Trade Register in the Chamber of Commerce
  8. Obtain approval of the act by the President
  9. Publish statement of no objection in the Official Gazette
  10. Register copy of approved act with the Trade Register of the Chamber of Commerce and Industry
  11. Register company for taxes at the tax office of the Ministry of Finance
  12. Buy insurance for the company
  13. Obtain trade license

Unless otherwise noted, all information included here was obtained from the Doing Business project 3, conducted by the World Bank. For more detailed information about starting a business in Suriname, visit http://www.doingbusiness.org/.

 

The World Economic Forum (WEF) was founded in 1971 by Klaus Martin Schwab at the University of Geneva in Switzerland.  It is a non-profit foundation best known for its annual meeting in Davos, Switzerland, which brings together top business leaders, international political leaders, selected intellectuals and journalists to discuss both economic and social issues facing the world.  The WEF also serves as a think tank, and publishes a wide range of reports focusing on issues of concern and importance to Forum communities. In particular, Strategic Insight Teams focus on producing reports of relevance in the fields of competitiveness, global risks and scenario thinking.  The Global Competitiveness Report measures competitiveness of countries and economic competitiveness among a wide range of factors such as corruption, tax rates, work ethic, and many others.

 

Suriname Economic Freedom

The annual survey Economic Freedom of the World is an indicator produced by the Fraser Institute, a libertarian think tank which attempts to measure the degree of economic freedom in the world's nations. Economic Freedom of the World index has been more widely used than any other measure of economic freedom, because of its coverage of a longer time period

Their measure of economic freedom is based on that the following standards:

  • Personal choice rather than collective choice,
  • Voluntary exchange coordinated by markets rather than allocation via the political process,
  • Freedom to enter and compete in markets, and
  • Protection of persons and their property from aggression by others.

A state will rate high when it focuses on protection of people and their property from the actions of aggressors, enforcement of contracts, and provision of the limited set of public goods like roads, flood control projects, and money of stable value and little else, but a country’s rating on the EFW summary index will fall as government expenditures increase and regulations expand.   

 

Suriname Summary

 

1 World Economic Forum

2 Free the World
Gwartney, James and Robert Lawson with Herbert Grubel, Jakob de Haan, Jan-Egbert Sturm, and Eelco Zandberg (2009). Economic Freedom of the World: 2009 Annual Report. Vancouver, BC: The Fraser Institute. Data retrieved from www.freetheworld.com.

3 World Bank Data

4 World Factbook Project