3. Doing Business Ranking places Rwanda No. 11 in Starting a business: Indicators Rwanda Sub- Saharan Africa OECD Average Procedures (number) 2 9.4 5.7 Time (days) 3 45.6 13.0 Cost (% in income per capita) 10.1 99.7 4.7 Minimum Capital (% of income per capita) 0.0 144.7 15.5

5. LEGAL AND INSTITUTIONAL REFORMS AIMED AT IMPROVING BUSINESS REGISTRATION IN RWANDA:

10. Starting a company (Old Way)

12. Impact of reforms on registering a business in Rwanda: Nature of procedure (2006) Duration (days) old system Duration (days) reformed system Cost in USD old system Cost in USD reformed system Check uniqueness of company name & pick company registration form 4 1 0 0 Notarize the company’s deeds and articles of association 2 0 167.29 0 Deposit the legally required initial capital in a bank and obtain deposit evidence 1 1 0 0 Registration with the commercial registry 2 2 0 77.31 Apply for publication of company statutes in the Official Journal at the Prime Ministers’ Office. 1 0 222.79 0 Pay publication fee at the bank and obtain a receipt 1 0 0 0 Registration of the Company for Taxes &b obtain a fiscal number TIN 1 0 9 0

13. Impact of reforms on registering a business in Rwanda: Nature of procedure (2006) Duration (days) old system Duration (days) reformed system Cost in USD old system Cost in USD reformed system Registration with social security Institute 2 0 4 0 Make a company seal 2 0 30 0 Totals 16 4 $433.08 77.31