| Our ranking in order of preference |
1 |
2 |
3 |
4 |
5 |
| Summary at a Glance |
|
|
|
|
|
| Total year 1 engagement set up costs? |
US$28,187 |
US$30,914 |
US$25,131 |
US$76,390 |
US$63,057 |
| Total year 2 costs (incl. audit and tax)? |
US$9,850 |
US$6,600 |
US$7,662 |
US$18,840 |
US$34,840 |
| Our Client must travel during company setup? |
No |
No |
No |
No |
No |
| Total engagement period? |
3 months |
3 months |
3 months |
6.5 months |
4.5 months |
| Corporation tax rate on net profits? (click link) |
0% |
10% |
0% |
15% |
20% |
| Average monthly skilled labour salary? (click link) |
US$2,150 |
US$2,590 |
US$564 |
US$2,056 |
US$616 |
| Average monthly office rental per sq m? |
US$42 |
US$50 |
US$25 |
US$50 |
US$25 |
| Average monthly warehouse rental per sq m? |
US$30 |
US$30 |
US$10 |
US$10 |
US$10 |
| Must be a 51% shareholder for trading business |
Yes |
Yes |
No |
Yes |
No |
| Must be a 51% shareholder for services business |
No |
Yes |
No |
Yes |
No |
| English language proficiency % of population? |
78% |
60% |
45% |
70% |
40% |
| Incorporation requirements |
|
|
|
|
|
| How long to set the company up? |
2 months |
1 month |
2 months |
6 months |
9 months |
| Minimum number of shareholders? |
2 |
2 |
2 |
1 |
2 |
| Individual and corporate shareholders allowed? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Minimum number of directors? |
1 |
1 |
2 |
1 |
1 |
| Resident director required? |
No |
No |
No |
No |
No |
| Minimum paid up share capital? |
US$1 |
US$55,000 |
US$2,660 |
US$50,000 |
US$27,000 |
| Fast turnkey solution available? (click link) |
Yes |
No |
No |
No |
No |
| Fastest time Bejarano ADF Consultants set up company? |
2 months |
1.5 months |
2 months |
1 month |
2.5 months |
| Corporate director(s) allowed? |
Yes |
No |
Yes |
No |
Yes |
| Public register of shareholders & directors? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Tax and accounting considerations |
|
|
|
|
|
| Corporate tax payable? |
0% |
10% |
0% |
15% |
20% |
| Withholding tax on dividends paid overseas |
0% |
0% |
0% |
15% |
15% |
| Annual financial statements required? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Statutory independent annual audit required? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Export taxes on goods and local GST or VAT? |
No |
No |
No |
No |
No |
| Best holding company to extract dividends? |
Marshall Islands |
Hong Kong |
BVI |
Brunei |
Singapore |
| Tax incentives for manufacturing start-ups? |
Yes |
Yes |
No |
No |
Yes |
| Access to how many double tax treaties? |
66 |
10 |
61 |
40 |
31 |
| Number of tax exempt free zones available? |
31 |
2 |
3 |
1 |
None |
| GCC member? (click link) |
Yes |
Yes |
Yes |
Yes |
Yes |
| Corporate bank account considerations |
|
|
|
|
|
| Bejarano ADF Consultants’ preferred bank? |
Noor Bank |
Commercial Bank of Qatar |
Arab Bank
|
HSBC |
SABB |
| How long to open bank account?
|
5 weeks |
4 weeks |
3 weeks |
4 weeks |
4 weeks |
| Do I travel to open the bank account? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Can open a US$ corporate 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? |
5.9 |
6.3 |
5.8 |
5.4 |
6.0 |
| Ease of getting credit by WEF? score (1-7) |
4.7 |
5.1 |
4.2 |
3.1 |
3.6 |
| Employment considerations |
|
|
|
|
|
| Average skilled labour monthly salary? |
US$3,500 |
US$4,500 |
US$3,500 |
US$3,900 |
US$3,700 |
| Average unskilled labour monthly salary? |
US$800 |
US$700 |
US$2,000 |
US$600 |
US$1,300 |
| Average pension/insurance benefits % of salary? |
12.5% |
10% |
9% |
11.5% |
9% |
| Minimum national salary? |
None |
None |
$800 |
$216 |
$720 |
| Mandatory labor unions? |
No |
No |
No |
No |
No |
| Minimum notice to dismiss employees? |
1 month |
1 week |
1 month |
1 month |
1 month |
| Minimum redundancy indemnity? |
1 month |
1 week |
N/A |
2 weeks |
None |
| Quota ratio of foreign workers to local staff? |
3 to 1 |
4 to 1 |
2 to 1 |
5 to 1 |
5 to 1 |
| How long to get work permit approved? |
4 weeks |
4 weeks |
3 weeks |
3 weeks |
4 weeks |
| Manufacturing considerations |
|
|
|
|
|
| Cost per unit of electricity? US$ |
0.04 |
0.02 |
0.08 |
0.07 |
0.03 |
| Rank for getting electricity (click link) |
4 |
40 |
73 |
93 |
22 |
| Warehousing space rental (per sq. m.)? |
US$30 |
US$30 |
US$10 |
US$10 |
US$13 |
| Ranking for transport infrastructure (1-7 best) (click link) |
6.6 |
5.3 |
4.7 |
3.7 |
4.8 |
| Ranking for customs procedures out of 10? (click link) |
6.0 |
5.4 |
4.7 |
4.7 |
4.3 |
| Average import duty % on raw materials? |
0% |
0% |
0% |
0% |
0% |
| Government incentives for startups? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Computer literacy % of population? |
90% |
86% |
79% |
66% |
54% |
| Internet connectivity rating? |
Strong |
Strong |
Strong |
Strong |
Poor |
| Global business efficiency index? (click link) |
23 |
21 |
26 |
43 |
31 |
| Preferred manufacturing city? |
Dubai |
Doha |
Manama |
Kuwait City |
Kuwait City |
| Proximity of sea port in kilometers? |
11 |
44 |
13 |
14 |
495 |
| Proximity of airport in kilometers? |
31 |
14 |
7 |
15.5 |
35 |
| Proximity of rail in kilometers? |
0 |
0.3 |
0 |
171 |
1018 |
| Literacy % of population |
90% |
96% |
95% |
93.9% |
93.9% |
| Local purchasing power (GDP per capita) |
US$43,876 |
US$93,684 |
US$24,692 |
US$ 52,182 |
US$ 25,959 |
| Local market size (in millions of people) |
2m |
2m |
1m |
4m |
31m |
| Average annual inflation rate in 2014? |
3% |
3% |
2.5% |
2.9% |
2.6% |
| Average unemployment rate in 2014? |
2.6% |
0.5% |
4.1% |
2.1% |
5.5% |
| Ease of doing business index (click link) |
22 |
50 |
53 |
86 |
49 |
| Country rating (click link) |
AA |
AA |
BBB |
AA |
AA |
