| Total year 1 engagement set up costs? |
US$23,610 |
US$29,538 |
| Total year 2 costs (incl. audit and tax)? |
US$12,932 |
US$12,003 |
| Our Client must travel during the engagement? |
Yes |
Yes |
| Total engagement period? |
3 months |
4 months |
| Corporation tax rate on net profits (click link)? |
0% |
0% |
| Average monthly skilled labor salary (click link)? |
US$3,500 |
US$3,500 |
| Average monthly office rental per sq m? |
US$61 |
US$45 |
| Average monthly warehouse rental per sq m? |
US$30 |
US$20 |
| Literacy % of population? |
90% |
90% |
| English language proficiency % of population? |
78% |
50% |
| Tenancy agreement required before incorporation? |
Yes |
Yes |
| Resident UAE shareholder required for trading companies? |
51% |
51% |
| Consulting companies can be 100% foreign owned |
Yes |
Yes |
| Can sign sales contracts with local clients |
Yes |
Yes |
| Allowed to invoice clients within the UAE? |
Yes |
Yes |
| Must rent office premises |
Yes |
Yes |
| Average annual rental cost for a 100 sqm. office |
US$79,700 |
US$54,400 |
| Expatriate perception of the city |
Exciting |
Family Oriented |
| Allowed to import raw materials? |
Yes |
Yes |
| Allowed to export goods? |
Yes |
Yes |
| Can the entity hire expatriate staff? |
Yes |
Yes |
| Incorporation requirements |
|
|
| How long to secure company registration number? |
2 months |
6 weeks |
| Minimum number of shareholders? |
2 |
1 |
| Individual and corporate shareholders allowed? |
Yes |
Yes |
| Minimum number of directors? |
1 |
2 |
| Resident director required? |
No |
No |
| Minimum paid up share capital? |
US$1 |
US$1 |
| Fast turnkey solution available (click link)? |
Yes |
Yes |
| Corporate director(s) allowed? |
Yes |
Yes |
| Public register of shareholders and directors? |
Yes |
Yes |
| Tax and accounting considerations |
|
|
| Corporate tax payable |
0% |
0% |
| Withholding tax on dividends paid overseas |
0% |
0% |
| Annual financial statements required? |
Yes |
Yes |
| Statutory independent annual audit required? |
Yes |
Yes |
| Export taxes on goods and local GST or VAT? |
0% |
0% |
| Tax exempt free zones available |
31 |
4 |
| Access global double tax treaties? |
66 |
66 |
| GCC member (click link)? |
Yes |
Yes |
| Corporate bank account considerations |
|
|
| Healy Consultants’ preferred bank? |
SCB Dubai |
SCB Dubai |
| How long to open corporate bank account? |
5 weeks |
4 weeks |
| Do I travel to open the bank account? |
Yes |
Yes |
| Multi-currency corporate bank account? |
Yes |
Yes |
| Multi-currency corporate visa debit cards? |
Yes |
Yes |
| Corporate ATM card available? |
Yes |
Yes |
| Bank rating by World Economic Forum? |
23 |
23 |
| Ease of getting credit by WEF? |
3 |
3 |
| Employment considerations |
|
|
| Average skilled labour monthly salary? |
US$3,500 |
US$3,500 |
| Average unskilled labour monthly salary? |
US$800 |
US$800 |
| Average pension/insurance benefits % of salary? |
12.5% |
12.5% |
| Mandatory labor unions? |
No |
No |
| Minimum notice to dismiss employees? |
30 days |
30 days |
| Quotas on foreign workers? |
Yes |
Yes |
| How long to get work permit approved? |
4 weeks |
3 weeks |
| Office space required to secure each new employment visa |
8sq.m. |
12sq.m. |
| Population % with degrees |
10% |
13% |
| Logistical considerations |
|
|
| Proximity of sea port in kilometers? |
43kms or 45 min. drive |
34kms or 30 min. drive |
| Proximity of airport in kilometers? |
12km or 25 min. drive |
35kms or 30 min. drive |
| Internet connectivity rating |
Strong |
Fair |
| Population (in million) |
2.1 |
1.4 |
| Computer literacy % of population |
71% |
80% |
| UAE purchasing power (GDP per capita) |
$64,500 |
$64,500 |
| UAE market size (in USD billions) |
401.6 |
401.6 |
| Average annual inflation rate in 2014-15? |
4.30% |
5.0% |
| Average unemployment rate in 2014-15? |
0.30% |
4.1% |
| Ease of doing business index (click link) |
31 |
31 |
| Country credit rating (S&P) |
AA |
AA |
| Percentage of expatriates living there |
88.5% |
75% |
| Number of international schools |
62 |
24 |
| Number of night clubs and bars |
271 |
35 |
| Number of golf courses |
11 |
7 |
| Number of global annual events |
19 |
24 |
| Government debt |
US$142bn |
US$104bn |
| Government sovereign fund |
US$70bn |
US$875bn |
| Mercer cost of living |
67 |
68 |
| Estimate of engagement costs |
US$ |
US$ |
| Healy Consultants company registration fees |
7,950 |
7,950 |
| Corporate bank account opening |
4,950 |
4,950 |
| Estimate of Government fees |
5,550 |
6,700 |
| Resident director fees (0 if not required) |
0 |
0 |
| Project management fee |
3,950 |
3,950 |
| Estimate of total outgoings in Year 1 |
23,610 |
29,538 |
| Draft sales invoice attached |
View invoice PDF |
View invoice PDF |
