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7. Ireland
2009 rank: #7
2008 rank:
#7

Starting a business in Ireland is fairly quick, taking only 13 days. But it's the time it takes to close a business that's impressive: bankruptcy proceedings can be over in less than five months, making this economy the speediest in the world when it comes to reorganizing or liquidating a company. That's largely thanks to the existence of specialized bankruptcy courts and statutory time limits, as well as a limit on procedural appeals.

Ireland is also among the least tedious economies in which to pay corporate taxes, which cost 28.8% of profit annually. One area of potential frustration for Irish businesses, however, is property registration, which takes 38 days and has an average cost of 9.6% of the property's value.

NEXT: 8. Canada

Source: All data comes from "Doing Business 2009," a publication of the World Bank and the International Finance Corporation. Detailed methodological information is available at www.doingbusiness.org.
LAST UPDATE: Sep 11 2008 | 1:18 PM ET
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