Southeast Asia companies

Southeast Asia companies

Summary at a GlanceVietnamIndonesiaMalaysiaPhilippinesSingapore
Total company engagement set up costsUS$15,640US$18,100US$9,630US$15,100US$6,980
Subsequent annual costs (incl audit and tax)US$3,555US$4,900US$4,915US$3,850US$6,950
How long to set the company up?3 months3 months4 weeks2 months1 week
How long to open company bank account?4 weeks4 weeks4 weeks4 weeks4 weeks
Issued share capital requiredUS$10,000US$300,000US$1US$200,000US$1
Corporate bank account locationSCB VietnamSCB IndonesiaSCB Kuala LumpurSCB PhilippinesSCB Singapore
Tenancy agreement required before incorporation?YesYesNoYesNo
Do you travel for company incorporation?NoNoNoNoNo
Resident director required?YesYesYesYesYes
Legal considerations
Resident shareholder required?NoNoNoNoNo
Minimum number of directors11251
Minimum number of shareholders12251
Resident company secretary required?NoNoYesNoYes
Individual shareholders allowedYesYesYesYesYes
Corporate shareholders allowedYesYesYesYesYes
Corporate director(s) allowedNoNoNoNoNo
Public register of shareholders and directorsYesYesYesYesYes
Tax and accounting considerations
Corporate tax payable %25%25%25%30%17%
Statutory audit requiredYesYesYesYesNo
Annual tax return to be submittedYesYesYesYesYes
Access to how many double tax treatiesYesYesYesYesYes
Tax exempt free zones availableVSIP FTZ Dong NamBatamPasir Gudang Port Klang Bayan LepasSubic Bay Clark FreeportSembawang Wharves Brani Terminal
Resident company for local tax purposesYesYesYesYesYes
Withholding tax payable5-10%20%10-15%20-30%10-15%
How long to get work permit approved2 months2 months2 months2 months1 month
Can the entity hire expatriate staff in the country?YesYesYesYesYes
Logistics considerations
Allowed to sign sales contracts with local clientsYesYesYesYesYes
Allowed to invoice local clientsYesYesYesYesYes
Average monthly salary of skilled labourUS$600US$800US$2,500US$1000US$4000
Average monthly salary of unskilled labourUS$200US$250US$350US$250US$800
English spoken by what % of the population50%40%70%78%80%
Literacy rate %94%90%92%93%93%
Computer literacy rate %60%60%80%55%98%
Office rental per square meter per monthUS$20US$20US$20US$15US$30
Warehouse rental per square meter per monthUS$5US5US$3US$3US$25
Country rating (out of 100)136607810023
Internet connectivity ratingPoorPoorFairPoorExcellent
GDP per capita (US$)1,5963,55710,3812,58851,709
Government liberal or controlling of daily businessStrictModerateLiberalStrictLiberal
Population % tertiary enrollment24%25%42%28%34%
Global business efficiency index score (out of 100)605026403
Ease of doing business global ranking (lower the better)99128121381
Population89 million248 million30 million98 million5 million
Unemployment rate3%7%3%7%2%
Inflation rate (2013)7.5%8.8%2%2%1.9%
GDP 2012 US$ billionUS$142bnUS$878bnUS$304bnUS$250bnUS$275bn
Average annual growth (2012)5%6.2%5.6%6.6%1.3%
Draft sales invoice attached

Contact us

For additional information on our Asia Pacific incorporation services, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi