| 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$34,595 |
US$19,450 |
US$17,860 |
| Total year 2 costs (incl. audit and tax)? |
US$9,850 |
US$6,600 |
US$14,620 |
US$7,500 |
US$11,100 |
| Our Client must travel during the engagement? |
No |
No |
No |
No |
No |
| Total engagement period? |
3 months |
3 months |
3 months |
4 months |
3 months |
| Corporation tax rate on net profits (click link)? |
0% |
10% |
20% |
26.50% |
15% |
| Average monthly skilled labor salary (click link)? |
US$3,500 |
US$2,590 |
US$1,000 |
US$2,300 |
US$600 |
| Average monthly office rental per sq m? |
US$40 |
US$40 |
US$27 |
US$25 |
US$34 |
| Average monthly warehouse rental per sq m? |
US$25 |
US$28 |
US$20 |
US$9 |
US$25 |
| Must be a 51% shareholder for trading business |
Yes |
Yes |
No |
No |
No |
| Must be a 51% shareholder for services business |
No |
No |
No |
No |
No |
| English language proficiency % of population? |
70% |
50% |
45% |
85% |
40% |
| Incorporation requirements |
|
|
|
|
|
| How long to secure company registration number? |
2 months |
4 weeks |
5 weeks |
8 weeks |
3 weeks |
| Minimum number of shareholders? |
1 |
2 |
1 |
1 |
3 |
| 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$55,000 |
US$70,650 |
US$1 |
US$3,400 |
| Fast turnkey solution available (click link)? |
Yes |
No |
No |
No |
No |
| Fastest time Bejarano ADF Consultants set up company? |
2 months |
. |
1 month |
1 month |
1 month |
| Special permit or license required? |
No |
No |
No |
No |
No |
| Corporate director(s) allowed? |
Yes |
No |
No |
Yes |
Yes |
| Public register of shareholders & directors? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Tax and accounting considerations |
|
|
|
|
|
| Corporate tax payable? |
0% |
10% |
20% |
26.50% |
15% |
| Withholding tax on dividends paid overseas |
0% |
0% |
0% |
20% |
10% |
| Annual financial statements required? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Statutory independent annual audit required? |
Yes |
Yes |
Yes |
Yes |
No |
| Export taxes on goods and local GST or VAT? |
0% |
0% |
16% |
18% |
10% |
| Best holding company to extract dividends? |
Marshall Islands |
Singapore |
Labuan |
Singapore |
UAE-RAK |
| Tax incentives for manufacturing start-ups? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Access to how many double tax treaties? |
66 |
50 |
32 |
54 |
34 |
| Number of tax exempt free zones available? |
37 |
8 |
18 |
1 |
5 |
| GCC member (click link)? |
Yes |
Yes |
No |
No |
No |
| Corporate bank account considerations |
|
|
|
|
|
| Bejarano ADF Consultants’ preferred bank? |
Emirates NDB |
SCB |
SCB |
Union Bank |
HSBC |
| How long to open corporate bank account? |
5 weeks |
3 weeks |
4 weeks |
4 weeks |
4 weeks |
| Do I travel to open the bank account? |
No |
No |
No |
No |
No |
| Can open a US$ 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? |
23 |
9 |
57 |
18 |
27 |
| Ease of getting credit by WEF? score (1-7) |
3 |
1 |
25 |
51 |
76 |
| Employment considerations |
|
|
|
|
|
| Average skilled labour monthly salary? |
US$3,100 |
US$2,590 |
US$1,500 |
US$2,300 |
US$800 |
| Average unskilled labour monthly salary? |
US$800 |
US$750 |
US$500 |
US$700 |
US$300 |
| Average pension/insurance benefits % of salary? |
12.50% |
10% |
13.25% |
- |
6-9% |
| Minimum national salary? |
US$400 |
US$550 |
US$450 |
US$500 |
US$250 |
| Mandatory labor unions? |
No |
No |
No |
No |
No |
| Minimum notice to dismiss employees? |
1 month |
2 months |
1 month |
1 month |
3 months |
| Minimum redundancy indemnity? |
1 month |
2 months |
1 month |
1 month |
3 months |
| Quota ratio of foreign workers to local staff? |
Yes |
Yes |
Yes |
Yes |
Yes |
| How long to get work permit approved? |
4 weeks |
3-6 weeks |
5-7 weeks |
4-8 weeks |
6-9 weeks |
| Manufacturing considerations |
|
|
|
|
|
| Cost per unit of electricity? US$ |
0.04 |
1.9 |
0.23 |
0.17 |
0.02 |
| Rank for getting electricity (click link) |
4 |
40 |
44 |
109 |
54 |
| Warehousing space rental (per sq. m.)? |
US$25 |
US$28 |
US$20 |
US$9 |
US$25 |
| Ranking for transport infrastructure (click link) (1-7 best) |
6.6 |
5.3 |
3.6 |
3.9 |
3 |
| Ranking for customs procedures out of 10 (click link)? |
6 |
5.4 |
4.5 |
4.4 |
3.1 |
| 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% |
90% |
90% |
95% |
90% |
| Internet connectivity rating? |
Strong |
Strong |
Strong |
Strong |
Strong |
| Global business efficiency index (click link)? |
23 |
21 |
54 |
30 |
- |
| Preferred manufacturing city? |
Dubai |
Doha |
Amman |
Tel Aviv |
Beirut |
| Proximity of sea port in kilometers? |
11 |
1 |
341.4 |
2.4 |
1.5 |
| Proximity of airport in kilometers? |
31 |
5 |
19 |
20 |
7.7 |
| Proximity of rail in kilometers? |
0 |
5 |
19 |
20 |
7.7 |
| Literacy % of population |
90% |
96.30% |
93.40% |
97.80% |
93.50% |
| Local purchasing power (GDP per capita) |
US$43,876 |
US$97,518 |
US$5,422 |
US$37,032 |
US$10,058 |
| Local market size (in millions of people) |
9.57 |
2.1 |
6.5 |
8.1 |
4.5 |
| Average annual inflation rate in 2014? |
3% |
3.10% |
5.50% |
1.50% |
3.20% |
| Average unemployment rate in 2014? |
2.60% |
0.6 |
12.60% |
6.70% |
6.60% |
| Ease of doing business index (click link) |
22 |
50 |
117 |
40 |
104 |
| Country rating (click link) |
AA |
AA |
BB- |
A+ |
B- |
