| Our ranking in order of preference | 1 | 2 | 3 | 4 | 5 |
| Summary at a Glance | | | | | |
| Total year 1 engagement set up costs (in €)? | 16,580 | 10,990 | 9,535 | 8,990 | 8,360 |
| Total year 2 costs (incl. audit and tax in €)? | 12,130 | 3,420 | 3,400 | 3,580 | 4,630 |
| Our Client must travel during the engagement? | No | No | No | No | No |
| Total engagement period? | 2 months | 2 months | 2 months | 2 months | 2 months |
| Corporation tax rate on net profits? | 12.5% | 9% | 12.5% | 20% | 10% |
| Tax-optimized free zones available? | Yes | Yes | Yes | Yes | Yes |
| Average monthly employee salary (2015)? | 3200 | 786 | 1796 | 606 | 443 |
| Warehousing rental (€ per sq. m.)? | €10 | €4 | €3 | €5 | €3 |
| Industrial space rental (€ per sq. m.)? | €5 | €5 | €4 | €5 | €3 |
| Fast turnkey solution available? | Yes | No | No | Yes | Yes |
| Incorporation requirements | | | | | |
| How long to setup the company? | 2 weeks | 3 weeks | 3 weeks | 3 weeks | 2 weeks |
| Minimum paid up share capital in €? | 1 | 10,000 | 1 | 2,800 | 1 |
| Minimum number of shareholders? | 1 | 1 | 1 | 1 | 1 |
| National shareholder required? | No | No | No | No | No |
| Corporate shareholders allowed? | Yes | Yes | Yes | Yes | Yes |
| Minimum number of directors? | 2 | 1 | 1 | 1 | 1 |
| Resident director required? | Yes | No | No | No | No |
| Corporate director(s) allowed? | No | No | Yes | Yes | No |
| Public register of shareholders & directors? | Yes | Yes | Yes | Yes | Yes |
| Tax and accounting considerations | | | | | |
| Corporation tax rate on net profits? | 12.5% | 9% | 12.5% | 20% | 10% |
| Average import taxes payable? | 23% | 25% | 15% | 21% | 20% |
| Average export tax payable? | 4% | 4% | 4% | 4% | 4% |
| Export credit incentives\subsidies available? | Yes | Yes | Yes | Yes | Yes |
| Local GST or VAT? (%) | 23% | 27% | 19% | 21% | 20% |
| Tax incentives for manufacturing start-ups? | Yes | Yes | Yes | Yes | Yes |
| How many tax-optimized free zones in the country? | 2 | No | 2 | 4 | 7 |
| Part of the Eurozone single currency? | Yes | No | Yes | Yes | No |
| EU VAT member? | Yes | Yes | Yes | Yes | Yes |
| Total effective tax paid by a business (% earnings) | 26% | 48% | 23% | 35% | 27% |
| Average dividend withholding tax with double taxation treaty access? | 10% | 8% | 10% | 5% | 3% |
| Average dividend withholding tax without double tax treaty access? | 20% | 16% | 17% | 15% | 5% |
| Access to how many double tax treaties? | 72 | 79 | 51 | 57 | 60 |
| Annual financial statements required? | Yes | Yes | Yes | Yes | Yes |
| Statutory independent annual audit required? | Yes | No | No | Yes | No |
| Quarterly accounting and tax reporting to the Government? | No | No | No | No | No |
| Corporate bank account characteristics | | | | | |
| Healy Consultants’ preferred bank? | Top 5 Bank | Top 10 Bank | Top 5 Bank | Top 10 Bank | Top 3 Bank |
| How long to open a corporate bank account? | 4 weeks | 3 weeks | 4 weeks | 4 weeks | 4 weeks |
| Do I travel to open the bank account? | No | No | No | No | No |
| Minimum deposit (€)? | €1,000 | €1,000 | None | €1,000 | None |
| Multi-currency corporate debit cards? | Yes | Yes | Yes | Yes | No |
| Corporate ATM card available? | Yes | No | No | No | No |
| Foreign exchange controls? | No | No | No | No | No |
| Bank rating by World Economic Forum? | 139 | 73 | 143 | 56 | 62 |
| Ease of getting credit? (by WEF)? | 117 | 126 | 109 | 96 | 53 |
| Employment considerations | | | | | |
| Minimum national salary? | 1,499 | 333 | 870 | 360 | 184 |
| Average monthly employee salary (2015)? | 3,200 | 786 | 1,796 | 606 | 443 |
| Average social contributions (%salaries)? | 10.75% | 18.50% | 11.50% | 23.59% | 18.50% |
| Labor productivity per hour (in US$)? | 47.3 | 28.3 | 31.2 | 8.2 | 16.5 |
| Mandatory labour unions? | No | No | No | No | No |
| Minimum notice to dismiss employees? | 1 week | 4 weeks | 1 weeks | 30 days | 30 days |
| Minimum redundancy indemnity? | 2 weeks | 2 months | 2 weeks | 4 weeks | 4 months |
| Quotas on foreign workers? | Yes | No | Yes | No | No |
| How long to get work permit approved? | 4 weeks | 4 weeks | 4 weeks | 4 weeks | 4 weeks |
| Schengen area member state? | Yes | Yes | No | Yes | No |
| Manufacturing considerations | | | | | |
| Warehousing rental (€ per sq. m.)? | 10 | 4 | 3 | 4.5 | 3 |
| Industrial space rental (€ per sq. m.)? | 5 | 5 | 4 | 5.3 | 2 - 4 |
| Cost per unit of electricity (€ per kWh)? | 0.19 | 0.11 | 0.24 | 0.13 | 0.09 |
| Average unemployment rate in 2015? | 9.40% | 6.70% | 15.30% | 9.80% | 9.20% |
| Internet connectivity? | 25 | 60 | 58 | 42 | 54 |
| Dealing with construction permits ranking? | 128 | 103 | 148 | 47 | 101 |
| Tax incentives for manufacturing start-ups? | Yes | Yes | No | Yes | Yes |
| Average inflation rate 2014-2015? | 0.20% | -0.20% | -1.40% | 0.6 | -1.40% |
| Logistical considerations | | | | | |
| Preferred manufacturing city? | Dublin | Budapest | Limassol | Riga | Plovdiv |
| Proximity of sea port in kilometers? | 12.5 | 530* | 8.6 | 5 | 256 |
| Proximity of airport in kilometers? | 10.7 | 22.4 | 91 | 10.4 | 14.4 |
| Proximity of rail in kilometers? | 5.6 | 4.3 | None | 10.5 | 1.6 |
| Does the country have maritime access? | Yes | No | Yes | Yes | Yes |
| Local Market size (in USD) | US$ 250bn | US$136bn | US$23bn | US$31bn | US$55bn |
| Local purchasing power (GDP per capita) | 53,313 | 13,902 | 31,836 | 16,037 | 7,588 |
| Ease of doing business index | 13 | 54 | 64 | 23 | 38 |
