Total company engagement set up costs | US$20,840 | US$30,840 | US$16,130 | US$17,920 | US$13,223 |
Subsequent annual costs (incl audit and tax) | US$9,525 | US$14,490 | US$15,145 | US$6,920 | US$9,415 |
How long to set the company up? | 2 months | 3 months | 4 weeks | 2 months | 1 week |
How long to open company bank account? | 4 weeks | 4 weeks | 4 weeks | 4 weeks | 6 weeks |
Issued share capital required | US$10,000 | US$300,000 | US$1 | US$200,000 | US$1 |
Corporate bank account location | SCB Vietnam | SCB Indonesia | SCB Kuala Lumpur | SCB Philippines | SCB Singapore |
Tenancy agreement required before incorporation? | Yes | Yes | No | Yes | No |
Do you travel for company incorporation? | No | No | No | No | No |
Resident director required? | Yes | Yes | Yes | Yes | Yes |
Legal considerations | | | | | |
Resident shareholder required? | No | No | No | No | No |
Minimum number of directors | 1 | 1 | 1 | 5 | 1 |
Minimum number of shareholders | 1 | 2 | 2 | 5 | 1 |
Resident company secretary required? | No | No | Yes | No | Yes |
Individual shareholders allowed | Yes | Yes | Yes | Yes | Yes |
Corporate shareholders allowed | Yes | Yes | Yes | Yes | Yes |
Corporate director(s) allowed | No | No | No | No | No |
Public register of shareholders and directors | Yes | Yes | Yes | Yes | Yes |
Tax and accounting considerations | | | | | |
Corporate tax payable % | 20% | 22% | 24% | 25% | 17% |
Statutory audit required | Yes | Yes | Yes | Yes | No |
Annual tax return to be submitted | Yes | Yes | Yes | Yes | Yes |
Access to how many double tax treaties | Yes | Yes | Yes | Yes | Yes |
Tax exempt free zones available | VSIP FTZ Dong Nam | Batam | Pasir Gudang Port Klang Bayan Lepas | Subic Bay Clark Freeport | Sembawang Wharves Brani Terminal |
Resident company for local tax purposes | Yes | Yes | Yes | Yes | Yes |
Withholding tax payable | 5-10% | 20% | 10-15% | 20-30% | 10-15% |
How long to get work permit approved | 2 months | 2 months | 2 months | 2 months | 1 month |
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$600 | US$800 | US$2,500 | US$1000 | US$4000 |
Average monthly salary of unskilled labour | US$200 | US$250 | US$350 | US$250 | US$800 |
English spoken by what % of the population | 50% | 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 month | US$20 | US$20 | US$20 | US$15 | US$30 |
Warehouse rental per square meter per month | US$5 | US5 | US$3 | US$3 | US$25 |
Country rating (out of 100) | 136 | 60 | 78 | 100 | 23 |
Internet connectivity rating | Poor | Poor | Fair | Poor | Excellent |
GDP per capita (US$) | 1,596 | 3,557 | 10,381 | 2,588 | 51,709 |
Government liberal or controlling of daily business | Strict | Moderate | Liberal | Strict | Liberal |
Population % tertiary enrollment | 24% | 25% | 42% | 28% | 34% |
Global business efficiency index score (out of 100) | 60 | 50 | 26 | 40 | 3 |
Ease of doing business global ranking (lower the better) | 99 | 128 | 12 | 138 | 1 |
Population | 89 million | 248 million | 30 million | 98 million | 5 million |
Unemployment rate | 3% | 7% | 3% | 7% | 2% |
Inflation rate (2013) | 7.5% | 8.8% | 2% | 2% | 1.9% |
GDP 2012 US$ billion | US$142bn | US$878bn | US$304bn | US$250bn | US$275bn |
Average annual growth (2012) | 5% | 6.2% | 5.6% | 6.6% | 1.3% |
Draft sales invoice attached | View invoice PDF | View invoice PDF | View invoice PDF | View invoice PDF | View invoice PDF |