| Our recommendation in order of preference |
1 |
2 |
3 |
4 |
5 |
| Summary at a glance |
|
|
|
|
|
| Total year 1 engagement set up costs? US$ |
US$23,610 |
US$19,605 |
US$29,538 |
US$30,995 |
US$29,375 |
| Total year 2 costs (incl. audit and tax)? US$ |
12,932 |
11,182 |
12,003 |
13,960 |
8,960 |
| Our Client must travel during the engagement? |
No |
No |
No |
No |
No |
| Total engagement period? (months) |
3 |
2 |
2 |
3 |
3 |
| Corporation tax rate on net profits? (click link) |
0% |
0% |
0% |
0% |
0% |
| Average monthly skilled labor salary? |
US$3,500 |
US$2,450 |
US$3,500 |
US$2,200 |
US$2,500 |
| Average monthly office rental per sq m? |
US$61 |
US$57 |
US$45 |
US$57 |
US$33 |
| Average monthly warehouse rental per sq m? |
US$30 |
US$15 |
US$20 |
US$17 |
US$20 |
| Must be a 51% shareholder for trading business |
Yes |
Yes |
Yes |
Yes |
Yes |
| Must be a 51% shareholder for services business |
No |
No |
No |
No |
No |
| English language proficiency % of population? |
78% |
75% |
50% |
75% |
75% |
| Incorporation requirements |
|
|
|
|
|
| How long to secure company registration number? |
2 months |
2 months |
2 months |
1 month |
2 months |
| Minimum number of shareholders? |
1 |
2 |
2 |
2 |
2 |
| Individual and corporate shareholders allowed? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Minimum number of directors? |
1 |
1 |
1 |
1 |
1 |
| Resident director required? |
No |
No |
No |
No |
Yes |
| Minimum paid up share capital? |
US$1 |
US$1 |
US$1 |
US$1 |
US$1 |
| Fast turnkey solution available? (click link) |
Yes |
No |
No |
No |
No |
| Fastest time Healy Consultants set up company? |
5 weeks |
2 weeks |
6 weeks |
3 weeks |
8 weeks |
| Special permit or license required? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Corporate director(s) allowed? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Public register of shareholders & directors? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Tax and accounting considerations |
|
|
|
|
|
| Corporate tax payable? |
0% |
0% |
0% |
0% |
0% |
| Withholding tax on dividends paid overseas |
No |
No |
No |
No |
No |
| Annual financial statements required? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Statutory independent annual audit required? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Export taxes on goods and local GST or VAT? |
No |
No |
No |
No |
No |
| Tax incentives for manufacturing start-ups? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Access to how many double tax treaties? |
66 |
66 |
66 |
66 |
66 |
| Number of tax exempt free zones available? |
31 |
3 |
4 |
2 |
1 |
| GCC member? (click link) |
Yes |
Yes |
Yes |
Yes |
Yes |
| Corporate bank account considerations |
|
|
|
|
|
| Healy Consultants’ preferred bank? |
HSBC |
Emirates NDB |
Citibank |
HSBC |
Ajman Bank |
| How long to open corporate bank account? |
5 weeks |
4 weeks |
4 weeks |
4 weeks |
4 weeks |
| Do I travel to open the bank account? |
No |
No |
No |
No |
No |
| Can open a US$ or £ or € bank account? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Good internet banking available? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Funds transfer currency controls |
No |
No |
No |
No |
No |
| Bank rating by World Economic Forum? |
5.7 |
5.7 |
5.7 |
5.7 |
5.7 |
| Ease of getting credit by WEF? |
89 |
89 |
89 |
89 |
89 |
| Employment considerations |
|
|
|
|
|
| Average skilled labour monthly salary? |
US$3,500 |
US$2,450 |
US$3,500 |
US$2,200 |
US$2,500 |
| Average unskilled labour monthly salary? |
US$800 |
US$750 |
US$800 |
US$700 |
US$750 |
| Average pension/insurance benefits % of salary? |
0% |
0% |
0% |
0% |
0% |
| Minimum national salary? |
US$245 |
US$245 |
US$275 |
US$275 |
US$465 |
| Mandatory labor unions? |
No |
No |
No |
No |
No |
| Minimum notice to dismiss employees? |
1 month |
1 month |
1 month |
1 month |
1 month |
| Minimum redundancy indemnity? |
1 month |
1 month |
1 month |
1 month |
1 month |
| Quota ratio of foreign workers to local staff? |
No |
No |
No |
No |
No |
| How long to get work permit approved? |
4 weeks |
4 week |
4 weeks |
4 weeks |
4 weeks |
| Manufacturing considerations |
|
|
|
|
|
| Cost per 100 units of electricity? US$ |
6.25 |
5.25 |
5.7 |
10.9 |
8.15 |
| Rank for getting electricity (click link) |
4 |
4 |
4 |
4 |
4 |
| Warehousing space rental (per sq. m.)? |
US$30 |
US$15 |
US$20 |
US$17 |
US$20 |
| Ranking for transport infrastructure (click link) (1-7 best) |
6.6 |
6.6 |
6.6 |
6.6 |
6.6 |
| Ranking for customs procedures out of 10? (click link) |
6 |
6 |
6 |
6 |
6 |
| Average import duty % on raw materials? |
0% |
0% |
0% |
0% |
0% |
| Government incentives for startups? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Computer literacy % of population? |
90% |
85% |
86% |
80% |
82% |
| Internet connectivity rating? |
Strong |
Strong |
Strong |
Strong |
Strong |
| Global business efficiency index? (click link) |
23 |
23 |
23 |
23 |
23 |
| Preferred manufacturing city? |
Dubai |
RAK |
Abu Dhabi |
Sharjah |
Ajman |
| Proximity of sea port in kilometers? |
44.9 |
8 |
14.7 |
13 |
2.3 |
| Proximity of airport in kilometers? |
44.5 |
18 |
20.8 |
18 |
26 |
| Proximity of rail in kilometers? |
0 |
0 |
0 |
0 |
0 |
| Literacy % of population |
90% |
90% |
90% |
90% |
90% |
| Local purchasing power (GDP per capita) |
US$24,866 |
US$14,882 |
US$61,009 |
US$15,578 |
US$14,744 |
| Average annual inflation rate in 2014? |
3% |
3% |
3% |
3% |
3% |
| Average unemployment rate in 2014? |
2.60% |
2.60% |
2.60% |
2.60% |
2.60% |
| Ease of doing business index (click link) |
22 |
22 |
22 |
22 |
22 |
| Country rating (click link) |
AA |
AA |
AA |
AA |
AA |
