Bangalore:  As U.S. and European countries economic growth is being obstructed, the businessmen are making plans to invest in the countries with emerging markets to churn out better profits. Countries like Brazil, Russia and Indonesia have experienced huge FDI records in 2011 which is 3 times more than last year. The business people’s assumption of making great money from the establishment in these countries is just a myth. The rules and regulations in these nations can destruct the growth as they follow very strict laws. Here are the countries that are named as a worst place for business establishment.

1. Venezuela:

 Venezuela is the most difficult place to do business. This country ranks amongst the world’s 50 biggest economies. The South American nation faces huge problems in the tax payment process. A lot of hindrances are faced when people have to approach for loans, investor protection laws and cross border trading. The companies in Venezuela spend 864 hours per year on the payment of taxes which is two times more than the time taken in Caribbean and other parts of Latin America. The GDP of the country in the year 2010 was $387.8 billion and the FDI was $1.4 billion. The time taken in the country is four times more than OECD countries. Even though the country has one of the world’s largest oil and natural gas reserves most of the people in the country live in poverty. Being a socialist country, the privatization of business is a great difficulty. The oil sector under the control of the government is one of the main incomes for the nation. The strict currency controls has limited the distribution of money among people. When money is withdrawn from the bank, the account holder should provide not only the signature but also the finger prints and sometimes also photographs. ATMs have their own money withdrawing limits per day. Identification is even required for minimal purchases like groceries. Another major problem in the nation is inflation. The inflation rate in the country is getting out of control as the annual inflation is summed as 26.5 percent.