| Our ranking in order of preference | 1 | 2 | 3 | 4 | 5 |
| Summary at a Glance | | | | | |
| Total year 1 engagement costs? | €26,140 | US$10,900 | US$30,650 | US$31,925 | US$20,370 |
| Total year 2 costs (incl. audit and tax)? | €7,990 | US$4,750 | US$11,150 | US$15,450 | US$8,150 |
| Our Client must travel during the engagement? | No | No | No | No | No |
| Total engagement period? | 6 months | 4 months | 5 months | 9 months | 7 months |
| Corporation tax rate on net profits (click link)? | 25% | 18% | 20% | 15% | 20% |
| Average monthly labor salary? | US$320 | US$189 | US$60 | US$300 | US$500 |
| Average monthly office rental per sq m? | US$20 | US$27 | US$10 | US$16 | US$35 |
| Average monthly warehouse rental per sq m? | US$5 | US$5 | US$1 | US$3 | US$3 |
| National resident shareholder required? | No | No | No | No | No |
| English language proficiency % of population? | 1% | 2% | 8% | 35% | 10% |
| Incorporation requirements | | | | | |
| How long to secure company registration number? | 2 months | 1 month | 2 months | 4 months | 3 months |
| Minimum number of shareholders? | 2 | 1 | 1 | 1 | 2 |
| Individual and corporate shareholders allowed? | Yes | Yes | Yes | Yes | Yes |
| Minimum number of directors? | 1 | 1 | 1 | 1 | 1 |
| Resident director (click link) required? | No | Yes | No | No | No |
| Minimum paid up share capital? | €1 | 1 | US$1 | US$1 | US$3.7m |
| Fast turnkey solution available (click link)? | Yes | Yes | Yes | Yes | Yes |
| Fastest time Healy Consultants set up company? | 2 months | 1 month | 2 months | 4 months | 3 months |
| Office premises required before registration? | No | No | Yes | Yes | Yes |
| Virtual office address will suffice? | Yes | Yes | No | No | No |
| Special permit or license required? | No | No | Yes | No | Yes |
| Shareholders & directors security check? | Yes | No | No | Yes | No |
| Corporate director(s) allowed? | No | No | No | No | No |
| Can be wholly foreign owned? | Yes | Yes | Yes | Yes | Yes |
| Company registration process is? | Difficult | Complex | Relatively easy | Complex | Complex |
| Company documents in English? | No | Yes | Yes | Yes | No |
| Must translate shareholders and directors docs? | Yes | No | No | No | Yes |
| Efficiency of Government co registration office? | Poor | Medium | Medium | Poor | Poor |
| Government incorporation fees payable? | €40 | US$50 | US$2,000 | US$3,500 | US$6,100 |
| Public register of shareholders & directors? | Yes | Yes | Yes | Yes | Yes |
| Tax and accounting considerations | | | | | |
| Corporate tax (%) payable (click link)? | 25 | 18 | 20 | 15 | 20 |
| GST or VAT (%) payable (click link)? | 10 | 20 | 0 | 0 | 0 |
| Average customs duty (%) on imports? | 10 | 5 | 5 | 10 | 5 |
| Average withholding tax (%) on dividend distributions? | 0 | 15 | 20 | 0 | 0 |
| Annual financial statements required? | Yes | Yes | Yes | Yes | Yes |
| Statutory independent annual audit required? | Yes | No | No | Yes | Yes |
| Monthly accounting and tax reporting required? | No | Yes | No | No | No |
| Access to how many double tax treaties? | 42 | 67 | 7 | 21 | 10 |
| Number of tax exempt free zones available? | 0 | 0 | 0 | 3 | 1 |
| Corporate bank account considerations | | | | | |
| Healy Consultants’ preferred bank? | Bank Melli Iran | Unicredit Bank | AIB | Ziraat Bank | LFB |
| How long to open corporate bank account? | 5 weeks | 4 weeks | 4 weeks | 5 weeks | 5 weeks |
| Do I travel to open the bank account? | No | No | No | No | No |
| Can open a US$ or € bank account? | Yes | Yes | Yes | Yes | Yes |
| Must have a resident bank signatory? | No | Yes | No | No | Yes |
| Corporate ATM cards available? | Yes | Yes | Yes | Yes | Yes |
| Good internet banking available? | No | Yes | No | No | No |
| Funds transfer currency controls | No | Yes | No | Yes | Yes |
| Bank rating by World Economic Forum? | 125 | 138 | N/A | N/A | 142 |
| Ease of getting credit by WEF? score (1-7) | 1.6 | 2.6 | N/A | N/A | 1.5 |
| Political / Economic Considerations | | | | | |
| Any existing economic sanctions? | Yes | No | No | No | Yes |
| Country in a state of war? | No | Yes | Yes | Yes | Yes |
| Existing stable Government? | Yes | No | No | No | No |
| 2014 Global Terrorism Index ranking (1 – worst)? | 28 | 51 | 2 | 1 | 15 |
| Foreign employee safety? | High | Medium | Low | Low | Low |
| Volatility of the currency? | High | Low | High | High | Low |
| Annual stock market growth (%)? | -14 | -30 | None | None | None |
| Fitch country rating (click link) | B+ | RD | None | B- | None |
| Estimated Real GDP (%) growth (click link)? | 2 | 2 | 5 | 6 | 15 |
| Employment considerations | | | | | |
| Average skilled labor salary? | US$480 | US$284 | US$90 | US$450 | US$750 |
| Average unskilled labor salary? | US$260 | US$151 | US$50 | US$240 | US$400 |
| Average pension/insurance benefits (%) of salary? | 23 | 4 | 0 | 17 | 15 |
| Minimum monthly national salary? | US$215 | US$57 | US$78 | US$214 | US$328 |
| Mandatory labor unions? | No | No | No | No | No |
| Minimum notice to dismiss employees? | 0 | 2 months | 1 month | 0 | 1 month |
| Minimum redundancy indemnity? | 1 month | 1 month | 2 months | 0 | 2 weeks |
| Quotas on foreign workers? | No | Yes | No | No | Yes |
| How long to get work permit approved? | 4 months | 3 months | 4 months | 4 months | 5 months |
| Other considerations | | | | | |
| Rank for getting electricity (click link) | 107 | 185 | 141 | 36 | 65 |
| Ranking for transport infrastructure (click link) (1-7 best) | 3.4 | 3.2 | N/A | N/A | 2.1 |
| Ranking for customs procedures out of 7 (click link)? | 3.3 | 3.3 | N/A | N/A | 2.6 |
| Literacy % of population (click link)? | 87 | 99 | 38 | 80 | 91 |
| Computer literacy (%) of population? | 57 | 42 | 1 | 9 | 22 |
| Internet connectivity rating? | Satisfactory | Satisfactory | Poor | Poor | Poor |
| Global business efficiency index (click link)? | 83 | 76 | N/A | N/A | 126 |
| Local purchasing power (GDP per capita) | 5315 | 3083 | 659 | 6334 | 6570 |
| Local market size (in millions of people) | 78 | 45 | 31 | 35 | 6 |
| Average annual inflation rate (%) in 2014? | 17 | 12 | 5 | 2 | 5 |
| Average unemployment rate (%) in 2014? | 11 | 9 | N/A | 16 | N/A |
| Most common industry in the country? | Oil & Gas | Metalwork | Textiles | Oil & Gas | Oil & Gas |
| Ease of doing business index (click link) | 130 | 96 | 183 | 156 | 188 |
