| Our ranking in order of preference |
1 |
2 |
3 |
5 |
| Summary at a glance |
|
|
|
|
| Total engagement costs? (US$) |
12,246 |
8,655 |
15,700 |
13,420 |
| How long to set the company up? |
1 week |
1 week |
2 weeks |
1 week |
| How long to open bank account? |
6 weeks |
4 weeks |
3 weeks |
4 weeks |
| Where to open the bank account? |
UOB Malaysia |
HSBC HK |
Arab Bank Dubai |
OCBC Singapore |
| Legally tax exempt structure? |
Yes |
Yes |
Yes |
Yes |
| Annual accounting and filing obligations? |
Yes |
Yes |
Yes |
No |
| Resident director required? |
Yes |
No |
No |
No |
| Reputable looking structure? |
Yes |
Yes |
Yes |
No |
| Legal considerations |
|
|
|
|
| Resident shareholder required? |
No |
No |
No |
No |
| Minimum number of directors? |
1 |
1 |
1 |
1 |
| Minimum number of shareholders? |
1 |
1 |
1 |
1 |
| Resident company secretary required? |
Yes |
Yes |
Yes |
Yes |
| Individual shareholders allowed? |
Yes |
Yes |
Yes |
Yes |
| Corporate shareholders allowed? |
Yes |
Yes |
Yes |
Yes |
| Corporate director(s) allowed? |
No |
Yes |
Yes |
Yes |
| Info available on a public register? |
Yes |
Yes |
Yes |
No |
| Minimum paid-up capital? (US$) |
1 |
1 |
1 |
1 |
| Tax and accounting considerations |
|
|
|
|
| Corporate tax payable? (%) |
0% |
0% |
0% |
3% |
| Annual financial statements required? |
Yes |
Yes |
Yes |
Yes |
| Statutory audit required? |
No |
Yes |
No |
Yes |
| Annual tax return to be submitted? |
Yes |
Yes |
Yes |
Yes |
| Access to double tax treaties? |
No |
No |
No |
No |
| Can the entity hire expatriate staff? |
Yes |
Yes |
Yes |
No |
| Foreign income locally taxable? |
Yes |
Yes |
No |
N/A |
| Agreeing to cooperate with FATF? |
Yes |
Yes |
Yes |
Yes |
| FATF blacklisted country? |
No |
No |
No |
No |
| Logistics considerations |
|
|
|
|
| Allowed to invoice local Clients? |
Yes |
Yes |
Yes |
No |
| Average monthly salary? (US$) |
2,700 |
1,900 |
2,100 |
400 |
| English spoken by locals? (% pop.) |
80% |
46% |
Na |
20% |
| Literacy rate (%)? |
93% |
93% |
90% |
92% |
| Computer literacy rate (%)? |
98% |
80% |
87% |
75% |
| Country sovereign rating (S&P)? |
AAA |
AAA |
AA |
- |
| Ease of doing business? (World Bank) |
1 |
5 |
31 |
140 |
| Population? (million) |
4.8 |
7.3 |
9.6 |
0.5 |
| Unemployment rate? (% active pop.) |
2 |
3.2 |
- |
- |
| Inflation rate? (average, 2015) |
0 |
2.9 |
3.7 |
-0.6 |
