Reforms in the Caribbean, 2008-09
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Antigua and Barbuda
In Antigua and Barbuda, no major reform was recorded.
Rank in Doing Business 2010: 50
The Bahamas
In The Bahamas, no major reform was recorded.
Rank in Doing Business 2010: 68
Dominica
In Dominica, no major reform was recorded.
Rank in Doing Business 2010: 83
Dominican Republic
The Dominican Republic adopted a new company law that strengthened investor protections by requiring greater corporate disclosure, director liability, and shareholder access to information.
Areas of Reform: Protecting investors
Rank in Doing Business 2010: 86
Grenada
In Grenada, additional staffing at the Grenada High Court has been reducing the court’s backlog and easing contract enforcement. With ongoing training of customs agents and brokers and implementation of electronic reference sources, Grenada has reduced the time for trading across borders.
Areas of Reform: Trading across borders, Enforcing contracts
Rank in Doing Business 2010: 91
Haiti
Haiti strengthened access to credit with a new law that broadens the scope of assets that can be used as collateral, allows future and after-acquired property to be used as collateral, and extends the security interest of the creditor automatically to the products, proceeds, and replacements of the original asset. With the implementation of the ASYCUDA system and 24-hour operations at the port, goods can be cleared faster in Haiti.
Areas of Reform: Getting credit (legal rights), Trading across borders
Rank in Doing Business 2010: 151
Jamaica
Jamaica reduced the property transfer tax from 6.5 percent of the value of the property to 5 percent.
Areas of Reform: Registering property
Rank in Doing Business 2010: 75
Puerto Rico
In Puerto Rico, no major reform was recorded.
Rank in Doing Business 2010: 35
St. Kitts and Nevis
St. Kitts and Nevis shortened trading times by allowing electronic submission of customs declarations.
Areas of Reform: Trading across borders
Rank in Doing Business 2010: 76
St. Lucia
St. Lucia eased business start-up by making it possible to check the availability of and reserve company names online.
Areas of Reform: Starting a business
Rank in Doing Business 2010: 36
St. Vincent and the Grenadines
St. Vincent and the Grenadines reduced the corporate income tax rate from 37.5 percent to 35 percent, to be further reduced to 32.5 percent from 2009 onward. Business start-up was eased by abolishing the requirement to have a company seal.
Areas of Reform: Starting a business, Paying taxes
Rank in Doing Business 2010: 70
Trinidad and Tobago
In Trinidad and Tobago, no major reform was recorded.
Rank in Doing Business 2010: 81