| Total company set up costs |
US$54,180 |
US$18,385 |
US$20,790 |
US$22,105 |
| Subsequent annual costs (excl accounting and tax fee) |
US$28,800 |
US$1,210 |
US$7,800 |
US$5,150 |
| How long to set the company up? |
20 weeks |
9 weeks |
12 weeks |
9 weeks |
| How long to open company bank account? |
8 weeks |
4 weeks |
8 weeks |
4 weeks |
| Issued share capital required |
US$1 |
US$1 |
US$1 |
US$1 |
| Corporate bank account |
SCB Brazil |
Banco Edwards Citi |
ABN Amro Argentina |
SCB Uruguay |
| Tenancy agreement required before incorporation? |
No |
No |
Yes |
No |
| Do you visit the country for company incorporation? |
No |
No |
No |
No |
| Resident director required? |
No |
Yes |
Yes |
No |
| Resident agent required |
Yes |
No |
No |
Yes |
| Legal considerations |
|
|
|
|
| Resident shareholder required? |
No |
No |
No |
No |
| Minimum number of directors |
1 |
1 |
1 |
1 |
| Minimum number of shareholders |
2 |
2 |
2 |
2 |
| Resident company secretary |
No |
No |
Yes |
Yes |
| Individual shareholders allowed |
Yes |
Yes |
Yes |
Yes |
| Corporate shareholders allowed |
Yes |
Yes |
Yes |
Yes |
| Corporate director(s) allowed |
Yes |
Yes |
Yes |
Yes |
| Public register of shareholders and directors |
Yes |
Yes |
Yes |
No |
| All business permitted for foreigners |
No |
Yes, except hyrdocarbon |
Yes |
Yes |
| Tax and accounting considerations |
|
|
|
|
| Corporate tax payable |
34% |
25% |
35% |
25% |
| Statutory audit required |
No |
No |
Yes |
No |
| Annual tax return to be submitted |
Yes |
Yes |
Yes |
Yes |
| Access to how many double tax treaties |
29 |
28 |
15 |
10 |
| Free zones available |
4 |
2 |
10 |
9 |
| Withholding tax payable |
8% – 28% |
35% |
35% |
7% |
| How long to get work permit approved |
4 weeks |
4 weeks |
4 weeks |
4 weeks |
| Can the entity hire expatriate staff in the country? |
Yes |
Yes |
Yes |
Yes |
| Logistic considerations |
|
|
|
|
| Allowed to invoice/sign sales contracts with local clients |
Yes |
Yes |
Yes |
Yes |
| Can rent office premises in the country |
Yes |
Yes |
Yes |
Yes |
| Allowed to import raw materials? |
Yes |
Yes |
Yes |
Yes |
| Allowed to export goods? |
Yes |
Yes |
Yes |
Yes |
| Employment visa fees (US$) |
US$3,950 |
US$3,950 |
US$3,950 |
US$3,950 |
| Average monthly salary skilled labour (US$) |
US$1,600 |
US$2,700 |
US$5,100 |
US$2,500 |
| Average monthly salary unskilled labour (US$) |
US$567 |
US$1,000 |
US$600 |
US$800 |
| What % of population speak English |
5% |
10% |
6% |
6% |
| Literacy rate (%) |
90% |
96% |
98% |
98% |
| Computer literacy rate (%) |
46% |
40% |
66% |
57% |
| Office rental square meter per month (US$) |
US$55 |
US$30 |
US$33 |
US$20 |
| Country credit rating |
A- |
AA+ |
CCC+ |
BBB- |
| Internet connectivity rating |
89% |
45% |
78% |
58% |
| Global business efficiency index score (higher better) |
50% |
72% |
38% |
31% |
| Ease of doing business global ranking (lower better) |
130 |
37 |
124 |
89 |
| GDP per capita (US$) |
US$11,340 |
US$15,363 |
US$11,558 |
US$14,449 |
| Population (in million) |
195 million |
17 million |
41 million |
3 million |
| Unemployment rate |
6% |
6% |
7% |
6% |
| Inflation rate (2013) |
6.1% |
2.2% |
9.8% |
8.1% |
| GDP 2012 |
US$2.3 trillion |
US$268 billion |
US$474 billion |
US$49 billion |
| Real GDP Growth rate (2012) |
3% |
5% |
2.6% |
3.5% |
| Estimate of engagement costs |
|
|
|
|
| Healy Consultants engagement fees |
US$11,400 |
US$7,200 |
US$13,550 |
US$10,660 |
| Company secretary and legal registered office fees |
US$2,300 |
US$1,100 |
US$0 |
US$1,100 |
| Estimate of Government registration fees |
US$480 |
US$1,685 |
US$940 |
US$1,545 |
| Corporate bank account opening |
US$4,950 |
US$4,950 |
US$2,950 |
US$4,950 |
| Project management fees |
US$7,600 |
US$3,450 |
US$0 |
US$3,850 |
| Estimate of total outgoings in Year 1 |
US$54,180 |
US$18,385 |
US$20,790 |
US$22,105 |
| Draft sales invoice attached |
View invoice PDF |
View invoice PDF |
View invoice PDF |
View invoice PDF |
