| Total company engagement set up costs |
US$11,500 |
US$7,300 |
US$8,700 |
US$6,100 |
US$19,842 |
| Subsequent annual costs (incl audit and tax) |
US$5,825 |
US$4,500 |
US$3,600 |
US$4,500 |
US$7,700 |
| How long to set the company up? |
1 week |
1 week |
8 weeks |
1 week |
1 week |
| How long to open company bank account? |
4 weeks |
3 weeks |
3 weeks |
3 weeks |
3 weeks |
| Issued share capital required |
US$1 |
US$1 |
US$1 |
US$1 |
US$1 |
| Corporate bank account location |
Bank of America |
Wells Fargo |
GE Capital |
Bank of America |
Europac Bank |
| Tenancy agreement required before incorporation? |
No |
No |
No |
No |
No |
| Do you travel for company incorporation? |
No |
No |
No |
No |
No |
| Resident director required? |
No |
No |
No |
No |
No |
| Legal considerations |
|
|
|
|
|
| Resident shareholder required? |
No |
No |
No |
No |
No |
| Minimum number of directors |
1 |
1 |
1 |
1 |
1 |
| Minimum number of shareholders |
1 |
1 |
1 |
1 |
1 |
| Resident company secretary required? |
Yes |
Yes |
Yes |
Yes |
No |
| Individual shareholders allowed |
Yes |
Yes |
Yes |
Yes |
Yes |
| Corporate shareholders allowed |
Yes |
Yes |
Yes |
Yes |
Yes |
| Corporate director(s) allowed |
Yes |
Yes |
Yes |
Yes |
Yes |
| Public register of shareholders and directors |
No |
Yes |
Yes |
No |
No |
| Tax and accounting considerations |
|
|
|
|
|
| Corporate tax payable % |
0-33% |
0-33% |
0-33% |
0-33% |
0% |
| Statutory audit required |
No |
No |
No |
No |
No |
| Annual tax return to be submitted |
Yes |
Yes |
Yes |
Yes |
No |
| Access to how many double tax treaties |
67 |
67 |
67 |
67 |
No |
| Tax exempt free zones available |
No |
No |
No |
No |
No |
| Resident company for local tax purposes |
Yes |
Yes |
Yes |
Yes |
No |
| Withholding tax payable |
30% reduced by DTAs |
30% reduced by DTAs |
30% reduced by DTAs |
30% reduced by DTAs |
No |
| How long to get work permit approved |
3 months |
3 months |
3 months |
3 months |
N/A |
| 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 but taxed |
Yes but taxed |
Yes but taxed |
Yes but taxed |
No |
| Allowed to invoice local clients |
Yes but taxed |
Yes but taxed |
Yes but taxed |
Yes but taxed |
No |
| Average monthly salary of skilled labour |
US$4,500 |
US$4,200 |
US$4,800 |
US$4,500 |
US$3,000 |
| Average monthly salary of unskilled labour |
US$1,500 |
US$1,300 |
US$1,700 |
US$1,500 |
US$1,000 |
| English spoken by what % of the population (estimate) |
96% |
96% |
96% |
96% |
90% |
| Literacy rate % |
99% |
99% |
99% |
99% |
98% |
| Office rental per square meter per month |
US$15 |
US$10 |
US$18 |
US$15 |
US$10 |
| Warehouse rental per square meter per month |
US$6 |
US$4 |
US$8 |
US$6 |
US$5 |
| Country credit rating |
AA+ |
AA+ |
AA+ |
AA+ |
N/A |
| Internet connectivity rating |
Strong |
Strong |
Strong |
Strong |
Fair |
| GDP per capita (US$) |
49,965 |
49,965 |
49,965 |
49,965 |
38,500 |
| Government liberal or controlling of daily business |
Liberal |
Liberal |
Liberal |
Liberal |
Liberal |
| Population % tertiary enrollment |
95% |
95% |
95% |
95% |
N/A |
| Global competitiveness ranking (1-6) |
5.48 |
5.48 |
5.48 |
5.48 |
N/A |
| Ease of doing business global ranking (lower the better) |
4 |
4 |
4 |
4 |
N/A |
| Population |
1 million |
26 million |
19.6 million |
19.3 million |
23,000 |
| Unemployment rate |
7.3% |
6.4% |
7.6% |
7% |
3.6% |
| Inflation rate (2013) |
1.5% |
1.5% |
1.5% |
1.5% |
N/A |
| GDP 2012 US$ billion |
US$60.12 bn |
US$1.14 tr |
US$1.15 tr |
US$734 bn |
US$839 bn |
| Average annual growth (2012) |
2.2% |
2.2% |
2.2% |
2.2% |
N/A |
| Estimate of engagement costs |
US$ |
US$ |
US$ |
US$ |
US$ |
| Healy Consultants engagement fees |
2,890 |
1,590 |
1,700 |
1,590 |
5,850 |
| Company secretary fees |
1,400 |
1,100 |
1,100 |
1,100 |
1,200 |
| Government fees |
310 |
660 |
200 |
6,60 |
982 |
| Corporate bank account opening |
5,950 |
3,950 |
4,950 |
2,750 |
5,950 |
| Estimate of total outgoings in Year 1 |
11,500 |
7,300 |
8,700 |
6,100 |
19,842 |
| Draft sales invoice attached |
View invoice PDF |
View invoice PDF |
View invoice PDF |
View invoice PDF |
View invoice PDF |
