| Our ranking in order of preference |
1 |
2 |
3 |
4 |
5 |
| Summary at a Glance |
|
|
|
|
|
| Total year 1 engagement set up costs? |
US$21,800 |
US31,000 |
US$32,595 |
US$17,860 |
US$48,665 |
| Total year 2 costs (incl. audit and tax)? |
US$11,200 |
US$5,070 |
US$14,620 |
US$11,100 |
US$14,840 |
| Our Client must travel during the engagement? |
No |
No |
No |
No |
No |
| Total engagement period? |
3 months |
3 months |
2 months |
3 months |
6 months |
| Corporation tax rate on net profits? (click link) |
0 |
0 |
0.14 |
0.15 |
0 |
| Average monthly skilled labor salary? (click link) |
US$3,500 |
US$4,000 |
US$1,000 |
US$600 |
US$4,000 |
| Average monthly office rental per sq m? |
US$65 |
US$58 |
US$25 |
US$35 |
US$35 |
| Average monthly warehouse rental per sq m? |
US$30 |
US$30 |
US$7 |
US$15 |
US$10 |
| Must be a 51% shareholder for trading business |
No |
No |
No |
No |
No |
| Must be a 51% shareholder for services business |
No |
No |
No |
No |
No |
| English language proficiency % of population? |
0.78 |
0.6 |
0.45 |
0.4 |
0.4 |
| Incorporation requirements |
|
|
|
|
|
| How long to secure company registration number? |
2 months |
1 month |
1 month |
1 month |
3 months |
| Minimum number of shareholders? |
1 |
1 |
1 |
3 |
2 |
| Individual and corporate shareholders allowed? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Minimum number of directors? |
1 |
1 |
1 |
1 |
1 |
| Resident director required? |
No |
No |
No |
No |
No |
| Minimum paid up share capital? |
US$1 |
US$1 |
US$70,650 |
US$3,500 |
US$36,000 |
| Fast turnkey solution available? (click link) |
Yes |
Yes |
Yes |
Yes |
Yes |
| Special permit or license required? |
No |
No |
No |
No |
No |
| Corporate director(s) allowed? |
Yes |
Yes |
No |
Yes |
Yes |
| Public register of shareholders & directors? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Tax and accounting considerations |
|
|
|
|
|
| Corporate tax payable? |
0 |
0 |
0.14 |
0.15 |
0 |
| Withholding tax on dividends paid overseas |
0 |
0 |
0 |
0 |
0 |
| Annual financial statements required? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Statutory independent annual audit required? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Export taxes on goods and local GST or VAT? |
0 |
0 |
0 |
0 |
0 |
| Best holding company to extract dividends? |
Marshall Islands |
Singapore |
Labuan |
UAE-RAKEZ |
Marshall Islands |
| Tax incentives for manufacturing start-ups? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Access to how many double tax treaties? |
N/A |
N/A |
N/A |
N/A |
N/A |
| Number of tax exempt free zones available? |
37 |
4 |
8 |
2 |
1 |
| GCC member? (click link) |
Yes |
Yes |
No |
No |
Yes |
| Corporate bank account considerations |
|
|
|
|
|
| Bejarano ADF Consultants’ preferred bank? |
Emirates NDB |
HSBC |
SCB |
HSBC |
KFH |
| How long to open corporate bank account? |
5 weeks |
3 weeks |
4 weeks |
4 weeks |
5 weeks |
| Do I travel to open the bank account? |
No |
No |
No |
No |
No |
| Can open a US$ or £ or € bank account? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Good internet banking available? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Funds transfer currency controls |
No |
No |
No |
No |
No |
| Bank rating by World Economic Forum? (click link) |
31 |
22 |
57 |
27 |
50 |
| Ease of getting credit by WEF? score (1-7) (click link) |
3 |
9 |
25 |
76 |
45 |
| Employment considerations |
|
|
|
|
|
| Average skilled labour monthly salary? |
US$3,100 |
US$2,900 |
US$1,500 |
US$1,200 |
US$4,000 |
| Average unskilled labour monthly salary? |
US$1,000 |
US$800 |
US$500 |
US$600 |
US$1,500 |
| Average pension/insurance benefits % of salary? |
0.05 |
0.105 |
0 |
0 |
0 |
| Minimum national salary? |
US$400 |
US$600 |
US$300 |
US$450 |
US$300 |
| Mandatory labor unions? |
No |
No |
No |
No |
No |
| Minimum notice to dismiss employees? |
1 month |
3 months |
3 months |
3 months |
3 months |
| Minimum redundancy indemnity? |
1 month |
1 month |
1 month |
1 month |
3 months |
| How long to get work permit approved? |
4 weeks |
4 weeks |
5-7 weeks |
6-9 weeks |
6 weeks |
| Manufacturing considerations |
|
|
|
|
|
| Cost per unit of electricity? US$ |
0.04 |
0.03 |
0.23 |
0.02 |
0.003 |
| Rank for getting electricity (click link) |
4 |
79 |
44 |
57 |
93 |
| Warehousing space rental (per sq. m.)? |
US$20 |
US$5 |
US$7 |
US$15 |
US$10 |
| Ranking for transport infrastructure (click link) (1-7 best) |
6.6 |
4.7 |
3.6 |
3 |
3.7 |
| Ranking for customs procedures out of 10? (click link) |
6 |
4.8 |
4.5 |
3.1 |
3.5 |
| Average import duty % on raw materials? |
0 |
0 |
0 |
0 |
0 |
| Government incentives for startups? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Computer literacy % of population? |
0.9 |
0.85 |
0.9 |
0.9 |
0.85 |
| Internet connectivity rating? |
Strong |
Strong |
Strong |
Strong |
Strong |
| Global business efficiency index? (click link) |
23 |
33 |
54 |
- |
43 |
| Preferred manufacturing city? |
Ras Al Khaimah |
Al Mazunah |
Zarqa |
Port of Beirut |
Kuwait FTZ |
| Proximity of sea port in kilometers? |
8 |
11 |
360 |
0 |
0 |
| Proximity of airport in kilometers? |
97 |
200 |
83.4 |
19.1 |
16.9 |
| Literacy % of population |
0.9 |
0.814 |
0.934 |
0.939 |
0.94 |
| Local purchasing power (GDP per capita) |
US$30,122 |
US$29,813 |
US$6,115 |
US$14,845 |
US$39,706 |
| Local market size (in millions of people) |
9 |
3.2 |
6.5 |
4.5 |
3.9 |
| Average annual inflation rate in 2014? |
0.011 |
0.013 |
0.055 |
0.032 |
0.027 |
| Average unemployment rate in 2014? |
0.038 |
0.08 |
0.126 |
0.066 |
0.031 |
| Ease of doing business index (click link) |
22 |
66 |
117 |
104 |
86 |
| Country rating (click link) |
AA |
A- |
BB- |
B- |
AA |
| Logistics considerations |
|
|
|
|
|
| Monthly warehouse rental (per sq. m.)? |
US$20 |
US$10 |
US$25 |
US$35 |
US$15 |
| Manufacturing space rental (sq. m.)? |
US$9 |
US$5 |
US$7 |
US$15 |
US$10 |
| Can rent office outside free zones? |
Yes |
Yes |
No |
Yes |
No |
| Can the entity hire local staff? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Average local monthly salary? |
US$2,500 |
US$2,900 |
US$2,600 |
US$2,200 |
US$4,000 |
| Can the entity hire expatriate staff? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Free zone work permit fee per person |
US$3,950 |
US$3,950 |
US$3,950 |
US$3,950 |
US$3,950 |
| How long to get work permit approved? |
4 weeks |
2-3 weeks |
4-5 weeks |
3-5 weeks |
2-3 weeks |
