| Summary at a glance |
|
|
|
|
|
| Total year 1 Europe company set up costs |
€9,990 |
€10,460 |
€14,920 |
€12,600 |
€10,020 |
| Total year 2 Europe company set up costs (incl. audit and tax) |
€3,420 |
€4,730 |
€6,949 |
€5,500 |
€5,890 |
| How long to set a Europe company? |
2 weeks |
2 weeks |
2 weeks |
3 weeks |
2 weeks |
| How long to open Europe company bank account? |
3 weeks |
4 weeks |
3 weeks |
4 weeks |
4 weeks |
| Issued share capital required |
€9,600 |
€2 |
€10,000 |
€1 |
€1 |
| Corporate bank account location
|
Citibank |
Raiffeisen Bank |
Bank Austria |
HSBC Greece |
Atlas Bank |
| Tenancy agreement required before Europe company incorporation? |
No |
No |
No |
No |
No |
| Annual tax return to be submitted |
Yes |
Yes |
Yes |
Yes |
Yes |
| Do you need to travel for Europe company setup? |
No |
No |
No |
No |
No |
Legal considerations
|
|
|
|
|
|
| Resident director required? |
No |
No |
No |
No |
No |
| Resident shareholder required? |
No |
No |
No |
No |
No |
| Minimum number of directors for Europe company |
1 |
1 |
1 |
2 |
1 |
| Minimum number of shareholders for Europe company |
1 |
1 |
1 |
2 |
1 |
| Resident company secretary required? |
No |
No |
No |
No |
No |
| 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 % |
9% |
10% |
24% |
22% |
9%-15%
|
| Annual financial statements required |
Yes |
Yes |
Yes |
Yes |
Yes |
| Statutory audit required |
Yes |
Yes |
No |
Yes |
Yes |
| Access to how many double tax treaties |
70 |
68 |
50 |
50 |
36 |
| Europe tax exempt free zones available |
Yes |
Yes |
Yes |
Yes |
Yes |
| VAT rates |
27% |
20% |
20% |
24% |
21% |
| Withholding tax payable on international dividends |
0% |
5% |
25% |
10% |
9%
|
| How long to get Europe work permit approved |
5 weeks |
4 weeks |
5 weeks |
6 weeks |
5 weeks |
| Can the entity hire expatriate staff? |
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$6,300 |
US$4,100 |
US$9,100 |
US$8,100 |
US$5,100 |
| Average monthly salary of unskilled labour |
US$,4,000 |
US$3,600 |
US$ 4,600 |
US$4,400 |
US$3,600 |
| English spoken by what % of the population |
20% |
25% |
73% |
51% |
40% |
| Literacy rate % |
98% |
98.4% |
98% |
96% |
98% |
| Computer literacy rate % |
56% |
42% |
60% |
50% |
48% |
| Office rental per square meter per month |
US$10 |
US$8 |
US$18 |
US$10 |
US$10 |
| Warehouse rental per square meter per month |
US$8 |
US$7 |
US$14 |
US$10 |
US$7 |
| Country rating (out of 100) |
46 |
52 |
96 |
9 |
38 |
| Internet connectivity rating |
Excellent |
Good |
Excellent |
Excellent |
Good |
| GDP per capita (US$) |
US$13,481 |
US$7,499 |
US$50,547 |
US$21,956 |
US$7,107 |
| Government liberal or controlling of daily business |
Moderately controlling |
Liberal |
Liberal |
Liberal |
Liberal |
| Population % tertiary enrollment |
60 |
57 |
70 |
56 |
48 |
| Global business efficiency index score (out of 100) |
60 |
67 |
74 |
50 |
N/A |
| Ease of doing business global ranking (lower the better) |
42 |
38 |
21 |
60 |
46 |
| Europe population |
9.9 million |
7.3 million |
8.5 million |
11 million |
0.6 million |
| Europe unemployment rate |
10.2% |
12.9% |
4.9% |
27.3% |
19.8% |
| Inflation rate (2015) |
-0.4% |
-0.6% |
0.7% |
-0.9% |
1.7% |
| GDP 2013 US$ billion |
$133.4 billion |
$54.5 billion |
$428.3 billion |
$242.2 billion |
$4.42 billion |
| Average annual growth (2012) |
3.6% |
1.7% |
0.3% |
0.8% |
1.5% |
| Estimate of Europe business engagement costs |
€ |
€ |
€ |
€ |
£ |
| Healy Consultants engagement fees |
3,630 |
3,400 |
7,400 |
5,400 |
3,050 |
| Company secretary and legal registered office fees |
1,100 |
1,200 |
1,100 |
1,100 |
3,100 |
| Government fees |
560 |
60 |
520 |
200 |
170 |
| Corporate bank account opening |
3,950 |
4,950 |
4,950 |
4,950 |
2,950 |
| VAT registration |
750 |
850 |
950 |
950 |
750 |
| Estimate of total outgoings in Year 1 |
9,990 |
10,460 |
14,920 |
12,600 |
10,020 |
| Draft sales invoice attached |
View invoice PDF |
View invoice PDF |
View invoice PDF |
View invoice PDF |
View invoice PDF |
