| Summary at a Glance | | | | | |
| Total company engagement set up costs | US$14,450 | US$23,150 | US$12,200 | US$14,105 | US$20,370 |
| Subsequent annual costs (incl audit and tax) | US$3,260 | US$9,100 | US$3,400 | US$4,730 | US$8,150 |
| How long to set the company up? | 3 months | 1 month | 1 month | 6 weeks | 3 months |
| How long to open company bank account? | 4 weeks | 4 weeks | 3 weeks | 4 weeks | 3 weeks |
| Issued share capital required to hire expatriates | US$60,000 | US$50,000 | US$50,000 | US$55,000 | US$80,000 |
| Corporate bank account location | Arab Bank | Standard Chartered Bank | Citibank | Citibank | National commercial bank |
| Tenancy agreement required before incorporation? | Yes | No | Yes | Yes | Yes |
| Do you travel for company incorporation? | No | Yes | No | No | No |
| Legal considerations | | | | | |
| Resident shareholder required? | Yes | No | Yes | No | Yes |
| Resident director required? | No | No | No | No | No |
| Minimum number of directors | 2 | 1 | 1 | 2 | 2 |
| Minimum number of shareholders | 2 | 2 | 2 | 2 | 2 |
| 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 | Yes | No | No | Yes |
| Public register of shareholders and directors | Yes | Yes | Yes | Yes | Yes |
| Tax and accounting considerations | | | | | |
| Corporate tax payable % | 26% | 22.5% | 15% | 31% | 20% |
| Statutory audit required | Yes | Yes | Yes | Yes | Yes |
| Annual tax return to be submitted | Yes | Yes | Yes | Yes | Yes |
| Access to how many double tax treaties | 20 | 51 | 67 | 37 | 10 |
| Tax exempt free zones available | Yes | Yes | Yes | Yes | Yes |
| Resident company for local tax purposes | Yes | Yes | Yes | Yes | Yes |
| Withholding tax payable on international payments | 15% | 20% | 1.5% | 15% | 0% |
| VAT rates | 17% | 10%-25% | 18% | 20% | 10% |
| Import and export duties | 5% | 16.7% | 6-18% | 12.5% | 10% |
| Monthly reporting | No | No | No | No | No |
| How long to get work permit approved | 2 months | 3 months | 2 months | 2 months | 2 months |
| Can the entity hire expatriate staff in the country? | Yes | Yes | Yes | Yes | Yes |
| Logistics considerations | | | | | |
| Allowed to sign sales contracts with local clients | Yes | Yes | Yes | Yes | Yes |
| Allowed to invoice local clients | Yes | Yes | Yes | Yes | Yes |
| Average monthly salary of skilled labour | US$290 | US$250 | US$200 | US$230 | US$220 |
| Average monthly salary of unskilled labour | US$170 | US$170 | US$165 | US$160 | US$190 |
| English spoken by what % of the population | 7% | 35% | 10% | 14% | 15% |
| Literacy rate % | 72.6% | 72% | 74.3% | 56% | 89.2% |
| Computer literacy rate % | 40% | 56% | 49% | 51% | 53% |
| Office rental per square meter per month | US$8 | US$7 | US$8 | US$7 | US$5 |
| Warehouse rental per square meter per month | US$5 | US$6 | US$5 | US$7 | US$4 |
| Country rating (out of 100) | 35 | 20 | 40 | 55 | 40 |
| Internet connectivity rating | Fair | Fair | Fair | Poor | Fair |
| GDP per capita (US$) | 5,400 | 3,200 | 4,300 | 3,000 | 9,500 |
| Government liberal or controlling of daily business | Moderate | Strict | Moderate | Strict | Moderate |
| Population % tertiary enrollment | 32.1% | 28% | 25% | 34% | 29% |
| Global business efficiency index score (out of 100) | 52 | 67 | 61 | 57 | 54 |
| Ease of doing business global ranking (lower the better) | 152 | 109 | 50 | 92 | 101 |
| Population | 38.48 million | 80.72 million | 10.78 million | 32.52 million | 6.155 million |
| Unemployment rate | 10% | 14% | 16.5% | 9.1% | 17% |
| Inflation rate (2013) | 3.5% | 10.15% | 5.8% | 1.9% | 3.4% |
| GDP 2012 US$ billion | $208.0 billion | $257.3 billion | $45.66 billion | $95.98 billion | $62.36 billion |
| Average annual growth (2012) | 3.7% | 5.3% | 4.8% | 4.8% | 6.4% |
| Estimate of engagement costs | US$ | US$ | US$ | US$ | US$ |
| Company formation fees | 7,250 | 9,750 | 6,700 | 3,130 | 10,370 |
| Company secretary and legal registered office fees | N/A | 2,400 | 1,100 | 1,200 | 0 |
| Government fees | 1,300 | 600 | 500 | 325 | 6,100 |
| Corporate bank account opening | 2,950 | 4,950 | 2,950 | 4,950 | 2,950 |
| Healy Consultants project management fees | 0 | 3,950 | 0 | 3,150 | 0 |
| Estimate of total outgoings in Year 1 | 14,450 | 23,150 | 12,200 | 14,105 | 20,370 |
| Draft sales invoice attached | View invoice PDF | View invoice PDF | View invoice PDF | View invoice PDF | View invoice PDF |
