| Summary at a Glance |
|
|
|
|
|
| Type of Europe company |
Non resident |
Non resident |
Resident |
Resident |
Resident |
| Corporate tax payable % |
0% |
0% |
0% |
9% |
10% |
| Total Europe company set up costs |
€16,580 |
£8,090 |
€24,170 |
€11,020 |
€10,990 |
| Subsequent annual costs (incl audit and tax) |
€12,130 |
£3,640 |
€10,540 |
€5,890 |
€3,420 |
| How long to set up the Europe company? |
2 weeks |
1 week |
3 weeks |
2 weeks |
2 weeks |
| How long to open Europe company bank account? |
4 weeks |
4 weeks |
4 weeks |
3 weeks |
3 weeks |
| Issued share capital required |
€1 |
£1 |
€13,000 |
€1 |
€1,800 |
| Corporate bank account location |
HSBC London |
HSBC London |
ING Luxembourg |
Podgorička banka |
Deutsche Bank Hungary |
| Do you travel for Europe company incorporation? |
No |
No |
No |
No |
No |
| EU VAT registration number |
Yes |
Yes |
Yes |
Yes |
Yes |
| Legal considerations |
|
|
|
|
|
| Resident director required? |
Yes |
No |
No |
No |
No |
| Resident shareholder required? |
No |
No |
No |
No |
No |
| Minimum number of directors for Europe company |
2 |
1 |
1 |
1 |
1 |
| Minimum number of shareholders for Europe company |
1 |
1 |
1 |
1 |
1 |
| Resident company secretary required? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Individual shareholders allowed |
Yes |
Yes |
Yes |
Yes |
Yes |
| Corporate shareholders allowed |
Yes |
Yes |
Yes |
Yes |
Yes |
| Corporate director(s) allowed |
No |
No |
No |
No |
No |
| Public register of shareholders and directors |
Yes |
Yes |
Yes |
Yes |
Yes |
| EU member country? |
Yes |
Yes |
Yes |
No |
Yes |
| Tax and accounting considerations |
|
|
|
|
|
| Corporate tax payable % |
0% |
0% |
0% |
9% |
10% |
| Audit exemption possible? |
No |
No |
No |
No |
No |
| Annual tax return to be submitted? |
No |
Yes |
Yes |
Yes |
Yes |
| Access to how many double tax treaties? |
0 |
0 |
60 |
38 |
71 |
| Access to EU directives? |
Yes |
Yes |
Yes |
No |
Yes |
| Resident company for local tax purposes? |
No |
No |
Yes |
Yes |
Yes |
| Withholding tax payable? |
0% |
0% |
0% |
9% |
4% |
| How long to get Europe work permit approved? |
N/A |
N/A |
2 months |
2 months |
3 months |
| Can the entity hire expatriate staff in the country? |
No |
No |
No |
Yes |
Yes |
| Logistics considerations |
|
|
|
|
|
| Must rent premises? |
No |
No |
No |
No |
No |
| Allowed to sign sales contracts with local clients |
No |
No |
No |
Yes |
Yes |
| Allowed to invoice local clients |
No |
No |
No |
Yes |
Yes |
| Average monthly salary of skilled labour |
US$3,000 |
US$4,000 |
US$2,800 |
US$1,500 |
US$1,500 |
| Average monthly salary of unskilled labour |
US$1,900 |
US$2,500 |
US$2,300 |
US$600 |
US$800 |
| English spoken by what % of the population |
98% |
98% |
56% |
20% |
20% |
| Literacy rate % |
99% |
99% |
100% |
98% |
99% |
| Computer literacy rate % |
70% |
85% |
65% |
75% |
80% |
| Office rental per square meter per month |
US$20 |
US$55 |
US$20 |
US$17 |
US$15 |
| Warehouse rental per square meter per month |
US$5 |
US$6 |
US$3 |
US$4 |
US$3 |
| Country rating (out of 100) |
57 |
98 |
100 |
40 |
43 |
| Internet connectivity rating |
Good |
Excellent |
Good |
Average |
Average |
| GDP per capita |
US$45,836 |
US$38,514 |
US$107,476 |
US$6,813 |
US$12,622 |
| Government liberal or controlling of daily business |
Liberal |
Liberal |
Moderate |
Liberal |
Liberal |
| Population % tertiary enrollment |
68% |
60% |
20% |
50% |
60% |
| Ease of doing business global ranking (lower the better) |
15 |
4 |
56 |
51 |
54 |
| Europe population |
6m |
63m |
0.5m |
0.6m |
9m |
| Europe unemployment rate |
13% |
7% |
6% |
13% |
10% |
| Inflation rate (2013) |
0.2% |
2.7% |
1.5% |
2.2% |
1.4% |
| GDP 2012 US$ billion |
US$210bn |
US$2.4tn |
US$57bn |
US$4bn |
US$125bn |
| Average annual growth (2012) |
-1.2% |
1.3% |
-0.7% |
7% |
0.9% |
| Estimate of Europe business engagement costs |
€ |
£ |
€ |
€ |
€ |
| Bejarano ADF Consultants engagement fees |
2,935 |
1,150 |
13,600 |
2,050 |
3,630 |
| Company secretary and legal registered office fees |
1,450 |
1,200 |
3,600 |
3,100 |
1,100 |
| Government fees |
270 |
40 |
1,070 |
150 |
560 |
| VAT registration/exemption, tax registration |
650 |
750 |
950 |
750 |
750 |
| Corporate bank account opening |
5,950 |
4,950 |
4,950 |
3,950 |
4,950 |
| Estimate of total outgoings in Year 1 |
16,580 |
8,090 |
24,170 |
11,020 |
10,990 |
| Draft sales invoice attached |
View invoice PDF |
View invoice PDF |
View invoice PDF |
View invoice PDF |
View invoice PDF |
