| Our ranking in order of preference |
1 |
2 |
3 |
4 |
5 |
| Summary at a glance |
|
|
|
|
|
| Total year 1 engagement costs (click link)? |
US$27,300 |
US$13,710 |
US$22,086 |
US$11,550 |
US$14,500 |
| Total year 2 costs (incl. audit and tax)? |
US$18,770 |
US$3,500 |
US$12,450 |
US$7,450 |
US$3,400 |
| Our Client must travel during the engagement? |
No |
No |
No |
No |
No |
| Total engagement period? |
4 months |
4 months |
5 months |
4 months |
3 months |
| Corporation tax rate on net profits (click link)? |
22% |
25% |
29% |
24% |
25% |
| Average monthly labor salary? |
US$169 |
US$95 |
US$131 |
US$108 |
US$100 |
| Average monthly office rental per sq m? |
US$45 |
US$23 |
US$29 |
US$20 |
US$17 |
| Average monthly warehouse rental per sq m? |
US$10 |
US$4 |
US$6 |
US$5 |
US$2 |
| National resident shareholder required? |
No |
No |
No |
No |
No |
| English language proficiency % of population? |
11% |
18% |
49% |
10% |
46% |
| Incorporation requirements |
|
|
|
|
|
| How long to secure company registration number? |
2 months |
1 month |
3 months |
2 months |
1 month |
| Minimum number of shareholders? |
2 |
2 |
2 |
1 |
3 |
| Individual and corporate shareholders allowed? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Minimum number of directors? |
2 |
2 |
2 |
1 |
1 |
| Resident director (click link) required? |
Yes |
No |
No |
No |
No |
| Resident company secretary (click link) required? |
No |
No |
Yes |
Yes |
No |
| Minimum paid up share capital (US$)? |
1,650 |
1 |
1,000 |
1 |
1 |
| Fast turnkey solution available (click link)? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Fastest time Healy Consultants set up company? |
1 month |
1 month |
2 months |
1 month |
1 month |
| Office premises required before co registration? |
No |
No |
No |
No |
No |
| Virtual office address will suffice? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Special permit or license required? |
No |
No |
No |
No |
No |
| Corporate director(s) allowed? |
No |
No |
No |
No |
No |
| Can be wholly foreign owned? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Company registration process is? |
Complex |
Difficult |
Very complex |
Complex |
Complex |
| Company documents in English? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Must translate shareholders and directors docs? |
No |
No |
No |
No |
No |
| Efficiency of Government co registration office? |
Poor |
Medium |
Poor |
Medium |
Medium |
| Government incorporation fees (US$) payable? |
155 |
300 |
750 |
500 |
200 |
| Public register of shareholders & directors? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Tax and accounting considerations |
|
|
|
|
|
| Corporate tax (%) payable (click link)? |
22% |
25% |
29% |
24% |
25% |
| GST or VAT (%) payable (click link)? |
14% |
15% |
0% |
12% |
13% |
| Average customs duty (%) on imports? |
15% |
15% |
10% |
10% |
10% |
| Average customs duty (%) on exports? |
0 |
0 |
0 |
0 |
0 |
| Withholding tax (%) on dividend distributions? |
0 |
20% |
15% |
10% |
5% |
| Withholding tax on distributions (%) to Singapore? |
0 |
15% |
13% |
10% |
5% |
| Annual financial statements required? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Statutory independent annual audit required? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Monthly accounting and tax reporting required? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Tax incentives for manufacturing start-ups? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Access to how many double tax treaties? |
94 |
30 |
57 |
39 |
7 |
| Number of tax exempt free zones available? |
0 |
8 |
0 |
0 |
0 |
| Corporate bank account considerations |
|
|
|
|
|
|
DBS India |
SCB Bangladesh |
SCB Pakistan |
SCB Sri Lanka |
SCB Nepal |
| How long to open corporate bank account? |
4 weeks |
5 weeks |
5 weeks |
4 weeks |
5 weeks |
| Do I travel to open the bank account? |
No |
No |
Yes |
Yes |
Yes |
|
Yes |
Yes |
Yes |
Yes |
Yes |
| Must have a local bank signatory? |
No |
No |
No |
No |
No |
| Corporate ATM cards available? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Good internet banking available? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Funds transfer currency controls |
Yes |
Yes |
Yes |
Yes |
Yes |
| Bank rating by World Economic Forum? |
4.3 |
4.2 |
4.8 |
5.8 |
4.2 |
| Ease of getting credit by WEF? score (1-7) |
3.6 |
2.4 |
2.6 |
2.9 |
2.3 |
| Employment considerations |
|
|
|
|
|
| Average skilled labour monthly salary? |
US$254 |
US$143 |
US$197 |
US$162 |
US$150 |
| Average unskilled labour monthly salary? |
US$127 |
US$72 |
US$104 |
US$93 |
US$80 |
| Average pension/insurance benefits (%) of salary? |
18 |
0 |
0 |
3 |
0 |
| Minimum national salary? |
US$0 |
US$19 |
US$127 |
US$50 |
US$79 |
| Mandatory labor unions? |
No |
No |
No |
No |
No |
| Minimum notice to dismiss employees? |
1 month |
1 week |
1 month |
1 month |
1 month |
| Minimum redundancy indemnity? |
2 weeks |
4 weeks |
4 weeks |
10 weeks |
4 weeks |
| Quota ratio of foreign workers to local staff? |
No |
5% |
No |
No |
No |
| How long to get work permit approved? |
3 months |
3 months |
4 months |
3 months |
2 months |
| Manufacturing considerations |
|
|
|
|
|
| Cost per unit of electricity (US$)? |
0.07 |
0.07 |
0.08 |
0.1 |
0.09 |
| Rank for getting electricity (click link) |
4 |
40 |
73 |
93 |
22 |
| Warehousing space rental (per sq. m.)? |
US$10 |
US$4 |
US$6 |
US$5 |
US$2 |
| Ranking for transport infrastructure (click link) (1-7 best) |
4.5 |
2.7 |
3.4 |
4.1 |
2.4 |
| Ranking for customs procedures out of 7 (click link)? |
3.9 |
3.5 |
3.7 |
4 |
3.2 |
| Government incentives for startups? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Computer literacy (%) of population? |
7% |
8% |
10% |
25% |
10% |
| Internet connectivity rating? |
Satisfactory |
Poor |
Satisfactory |
Satisfactory |
Poor |
| Global business efficiency index (click link)? |
71 |
103 |
129 |
73 |
102 |
| Preferred manufacturing city? |
Mumbai |
Dhaka |
Karachi |
Colombo |
Kathmandu |
| Proximity of sea port in kilometers? |
23 |
279 |
16 |
4 |
927 |
| Proximity of airport in kilometers? |
8 |
8 |
17 |
16 |
4 |
| Proximity of rail in kilometers? |
2 |
4 |
2 |
2 |
222 |
| Literacy % of population (click link)? |
71 |
62 |
58 |
93 |
64 |
| Local purchasing power in USD (GDP per capita) |
1,598 |
1,093 |
1,334 |
3,631 |
697 |
| Local market size (in millions of people) |
1,295m |
159m |
185m |
21m |
28m |
| Average annual inflation rate (%)? |
6 |
7 |
7 |
3 |
8 |
| Average unemployment rate (%)? |
4 |
4 |
5 |
4 |
3 |
| Most common industry in the country? |
Software |
Textiles |
Textiles |
Product Processing |
Tourism |
| Ease of doing business index (click link) |
142 |
173 |
128 |
99 |
108 |
| Country rating (click link) |
BBB- |
BB- |
B- |
B+ |
N/A |
| Most common import into the country? |
Crude Oil |
Petroleum |
Food |
Textile fabrics |
Petroleum |
| Most common export from the country? |
Software |
Textiles |
Linens |
Textile |
Carpets |
