| Type of entity |
Trading LLC |
100% SAGIA trading LLC |
Trading Joint Venture LLC |
70% LLC |
LLC |
Trading LLC |
| Total company engagement set up costs (US$) |
23,610 |
70,499 |
31,549 |
29,550 |
25,131 |
29,538 |
| Subsequent annual costs (incl audit and tax in US$) |
12,932 |
39,940 |
7,950 |
7,050 |
7,662 |
12,003 |
| How long to set the company up? |
2 months |
7 months |
1 month |
6 weeks |
3 months |
2 months |
| How long to open company bank account? |
5 weeks |
3 months |
4 weeks |
6 weeks |
4 weeks |
4 weeks |
| Issued paid up share capital required (US$) |
1 |
8M |
55,000 |
390,000 |
2,660 |
1 |
| Corporate bank account location |
Emirates NBD |
Alinma Bank |
SCB Qatar |
HSBC Oman |
Arab bank |
Emirates Islamic |
| Tenancy agreement required before incorporation? |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Do you travel for company incorporation? |
No |
No |
No |
No |
No |
No |
| Do you travel for bank account opening? |
Yes |
Yes |
No |
Yes |
Yes |
Yes |
| Resident director required? |
No |
No |
No |
No |
No |
No |
| Incorporation requirements |
|
|
| National shareholder required? |
Yes |
No |
Yes |
Yes |
Yes |
Yes |
| Minimum number of directors |
1 |
1 |
1 |
2 |
1 |
1 |
| Minimum number of shareholders |
2 |
1 |
2 |
2 |
2 |
2 |
| Resident company secretary required? |
No |
No |
No |
Yes |
No |
No |
| Individual shareholders allowed |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Corporate shareholders allowed |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Corporate director(s) allowed |
No |
No |
No |
No |
No |
No |
| Public register of shareholders and directors |
No |
Yes |
Yes |
Yes |
Yes |
No |
| Tax and accounting considerations |
| Corporate tax payable % |
0% |
20% |
10% |
15% |
0% |
0% |
| Statutory audit required |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Annual tax return to be submitted |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Access to how many double tax treaties? |
66 |
31 |
37 |
31 |
61 |
66 |
| Tax exempt free zones available |
31 |
6 |
2 |
4 |
3 |
4 |
| Resident company for local tax purposes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Withholding tax payable |
0% |
5-15% |
0% |
10% |
0% |
0% |
| How long to get work permit approved |
1 month |
2 months |
1 month |
1 month |
1 month |
1 month |
| Can the entity hire expatriate staff in the country? |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Logistics considerations |
| Allowed to sign sales contracts with local clients |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Allowed to invoice local clients |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Average monthly salary of skilled labour |
US$3,500 |
US$3,700 |
US$4,500 |
US$4,000 |
US$3,500 |
US$3,500 |
| Average monthly salary of unskilled labour |
US$800 |
US$1,300 |
US$700 |
US$1,000 |
US$2,000 |
US$800 |
| English spoken by what % of the population (estimate) |
78% |
40% |
60% |
30% |
45% |
50% |
| Literacy rate % |
94% |
95% |
97% |
91% |
96% |
94% |
| Office rental per square meter per month |
US$65 |
US$25 |
US$58 |
US$25 |
US$20 |
US$45 |
| Warehouse rental per square meter per month |
US$30 |
US$13 |
US$30 |
US$13 |
US$10 |
US$20 |
| Country credit rating |
AA |
A+ |
AA |
Ba1- |
BBB- |
AA |
| Internet connectivity rating |
Fair |
Fair |
Strong |
Fair |
Strong |
Fair |
| GDP per capita (US$) |
US$68,600 |
US$52,200 |
US$143,400 |
US$39,700 |
US$51,700 |
US$64,500 |
| Government liberal or controlling of daily business |
Moderate |
Moderate |
Moderate |
Strict |
Liberal |
Moderate |
| Population % tertiary enrollment |
25% |
41% |
12% |
29% |
29% |
25% |
| Global competitiveness ranking (1-6) |
5.11 |
5.10 |
5.24 |
4.64 |
4.45 |
5.11 |
| Ease of doing business global ranking 2018-2019 (lower the better) |
11 |
92 |
83 |
78 |
62 |
11 |
| Population (million) |
9.4 |
33 |
2.4 |
4.69 |
1.44 |
9.4 |
| Unemployment rate |
4% |
6% |
8.9% |
3.1% |
4% |
4% |
| Inflation rate (2017) |
2% |
-0.9% |
0.4% |
1.6% |
1.4% |
2% |
| GDP 2018 US$ billion |
696 |
1.7 trillion |
340 |
190 |
71 |
696 |
| Average annual growth (2017) |
0.8% |
-0.9% |
1.6% |
-0.9% |
3.8% |
0.8% |
