Tentmaker Reports

Timor-Leste Report

Entrepreneurial Missions Index

44.46

General Information

Population

1,098,386 (148th most populous country in the world)

RELIGIONS
Roman Catholic98%
Muslim1%
Protestant1%
LANGUAGES
Tetum
Portuguese
Indonesian
English

Industries

Printing, soap manufacturing, handicrafts, woven cloth

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 Timor-Leste, visit https://www.cia.gov/library/publications/the-world-factbook/geos/tp.html.

Business Information

The World Bank ranks Timor-Leste 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 10 procedures, takes 83 days, and costs 6.6% of income per capita to start a business in Timor-Leste.

In order to start a business in Timor-Leste, one must follow these procedures:

  1. Pay registration fees and deposit minimum capital at the Bank (BNU)
  2. Obtain criminal record clearance from Ministry of Justice
  3. Verify uniqueness of company name and register at the Ministry of Tourism, Commerce, and Industry (MTCI)
  4. Get proof of business address from the Department of Land
  5. File company statute at the Ministry of Justice
  6. Publish statutes in the official gazette
  7. Apply to tax identification number (TIN)
  8. Notify Labor Department
  9. Apply for temporary business license at the Ministry of Tourism, Commerce, and Industry
  10. Make a company seal

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 Timor-Leste, visit http://www.doingbusiness.org/.

 

To learn more...

 

Timor-Leste Economic Freedom

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.
 

Timor-Leste 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

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