| Summary at a Glance |
|
|
|
|
|
|
| Type of LLC |
Resident |
Resident |
Resident |
Resident |
Resident |
Look-through |
| Total company engagement set up costs |
€15,440 |
€24,170 |
US$12,030 |
US$21,800 |
US$10,105 |
US$9,590 |
| Subsequent annual costs (incl audit and tax) |
€2,355 |
€4,970 |
US$8,200 |
US$11,200 |
US$9,000 |
US$3,540 |
| How long to set the company up? |
3 weeks |
3 weeks |
1 week |
2 months |
1 week |
1 week |
| How long to open company bank account? |
4 weeks |
4 weeks |
4 weeks |
5 weeks |
3 weeks |
3 weeks |
| Issued share capital required |
€1 |
€12,395 |
US$1 |
US$1 |
US$1 |
US$1 |
| Corporate bank account location |
ABN AMRO |
ING Luxembourg |
DBS Singapore |
SCB Dubai |
HSBC HK |
HSBC NZ |
| Tenancy agreement required before incorporation? |
No |
No |
No |
Yes |
No |
No |
| Do you travel for company incorporation? |
No |
No |
No |
No |
No |
No |
| Legal considerations |
|
|
|
|
|
|
| Resident director required? |
No |
No |
Yes |
No |
No |
Yes |
| Resident shareholder required? |
No |
No |
No |
No |
No |
No |
| Minimum number of directors |
1 |
1 |
1 |
1 |
1 |
1 |
| Minimum number of shareholders |
1 |
1 |
1 |
1 |
1 |
1 |
| Resident company secretary required? |
No |
No |
Yes |
No |
No |
Yes |
| Individual shareholders allowed |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Corporate shareholders allowed |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Corporate director(s) allowed |
Yes |
Yes |
No |
No |
No |
No |
| Public register of shareholders and directors |
Yes |
Yes |
Yes |
No |
Yes |
Yes |
| Tax and accounting considerations |
|
|
|
|
|
|
| Corporate tax payable on qualifying dividends % |
0% |
0% |
0% |
0% |
0% |
0% |
| Must prepare annual financial statements |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Statutory audit exemption possible? |
Yes |
Yes |
Yes |
Yes |
No |
Yes |
| Annual tax return to be submitted |
Yes |
Yes |
Yes |
No |
Yes |
Yes |
| Access to how many double tax treaties |
96 |
77 |
75 |
71 |
37 |
40 |
| How long to get work permit approved |
2 months |
2 months |
1 month |
4 weeks |
3 months |
2 months |
| Can the entity hire expatriate staff in the country? |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Access to EU directives? |
Yes |
Yes |
No |
No |
No |
No |
| VAT number possible? |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Thin Capitalization rules |
No |
No |
No |
No |
No |
Yes |
| IP box regime |
Yes |
Yes |
No |
No |
No |
No |
| Logistics considerations
|
|
|
|
|
|
|
| Allowed to sign sales contracts with local clients |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Allowed to invoice local clients |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Average monthly salary of unskilled labour |
€2,205 |
€1,923 |
US$4,427 |
US$4,300 |
US$1,644 |
US$4,202 |
| English spoken by what % of the population |
90% |
60% |
80% |
78% |
46% |
96% |
| Literacy rate % |
99% |
100% |
97% |
94% |
93% |
99% |
| Computer literacy rate % |
93% |
65% |
94% |
80% |
94% |
89% |
| Office rental per square meter per month |
US$19 |
US$20 |
US$30 |
US$40 |
US$28 |
US$31 |
| Warehouse rental per square meter per month |
US$30 |
US$30 |
US$25 |
US$30 |
US$20 |
US$5 |
| Moody’s country credit rating |
Aaa |
Aaa |
Aaa |
Aa2 |
Aa1 |
Aaa |
| Internet connectivity rating |
Excellent |
Good |
Excellent |
Good |
Excellent |
Good |
| GDP per capita (US$) |
44,433.4 |
101,450 |
52,889 |
40,438 |
42,423 |
37,808 |
| Government liberal or controlling of daily business |
Liberal |
Liberal |
Liberal |
Liberal |
Liberal |
Liberal |
| Population % tertiary enrollment |
79% |
75% |
88% |
19% |
67% |
79% |
| Ease of doing business ranking (lower the better) |
28 |
59 |
2 |
26 |
4 |
1 |
| Population (in thousand) |
16,936 |
570 |
7,306 |
9,157 |
5,535 |
4,595,700 |
| Unemployment rate |
6.9% |
6.1% |
3% |
3.2% |
3.6% |
4.6% |
| Inflation rate (2016) |
0.1% |
0.4% |
-0.2% |
0.6% |
2.7% |
0.2% |
| GDP 2015 US$ billion |
753 |
58 |
293 |
370 |
310 |
174 |
| GDP annual growth (2015) |
2% |
4.8% |
2.0% |
3.2% |
2.4% |
3.4% |
| Estimate of engagement costs |
|
|
|
|
|
|
| Bejarano ADF Consultants engagement fees |
€8,990 |
€13,600 |
US$1,980 |
US$3,950 |
US$3,350 |
US$1,910 |
| Company secretary and legal registered office fees |
€1,100 |
€3,600 |
US$1,200 |
US$1,500 |
US$1,550 |
US$1,200 |
| Government fees |
€1,800 |
€1,070 |
US$2,500 |
US$6,550 |
US$255 |
US$130 |
| VAT registration/exemption, tax registration |
€750 |
€950 |
0 |
0 |
0 |
US$550 |
| Corporate bank account opening |
€2,950 |
€4,950 |
US$4,950 |
US$4,950 |
US$4,950 |
US$4,950 |
| Total |
€15,440 |
€24,170 |
US$12,030 |
US$21,800 |
US$10,105 |
US$9,590 |
| Draft sales invoice attached |
View invoice PDF |
View invoice PDF |
View invoice PDF |
View invoice PDF |
View invoice PDF |
View invoice PDF |
