New Zealand is ranked as the easiest place in the world to do business, followed by Singapore and Denmark, according to a report, Doing Business 2018: Reforming to Create, released by the World Bank.

Starting a new business in New Zealand takes the smallest number of procedures required (one) and the shortest time to fulfill them (0.5 day).

The ranking uses 11 indicators to measure aspects of business regulation across 190 countries worldwide. Of the top 20 economies in the list, 14 are high-income Organization for Economic Co-operation and Development or OECD economies.

Let's take a look at 10 easiest places in the world to do business.

No 10 Sweden

Morning traffic in Stockholm,Sweden.[Photo/IC]