| Our recommendation in order of preference | 1 | 2 | 3 |
| Summary at a Glance | | | |
| Total year 1 engagement set up costs? | US$28,187 | US$22,633 | US$25,131 |
| Total year 2 costs (incl. audit and tax)? | US$9,850 | US$12,180 | US$7,662 |
| Our Client must travel during company setup? | No | No | No |
| Total engagement period? | 3 months | 3 months | 3 months |
| Corporation tax rate on net profits? (click link) | 0% | 0% | 0% |
| Average monthly skilled labour salary? (click link) | US$2,150 | US$2,150 | US$564 |
| Average monthly office rental per sq m? | US$42 | US$25 | US$25 |
| Must be a 51% shareholder for trading business | Yes | Yes | No |
| Must be a 51% shareholder for services business | No | No | No |
| Average monthly warehouse rental per sq m? | US$30 | US$20 | US$10 |
| English language proficiency % of population? | 78% | 50% | 45% |
| Incorporation requirements | | | |
| How long to set the company up? | 2 months | 2 months | 2 months |
| Minimum number of shareholders? | 2 | 2 | 2 |
| Individual and corporate shareholders allowed? | Yes | Yes | Yes |
| Minimum number of directors? | 1 | 1 | 1 |
| Resident director required? | No | No | No |
| Minimum paid up share capital? | US$1 | US$1 | US$2,660 |
| Fast turnkey solution available? (click link) | Yes | No | No |
| Fastest time Healy Consultants completed the engagement? | 2 months | 1 month | 2 months |
| Corporate director(s) allowed? | Yes | Yes | Yes |
| Public register of shareholders & directors? | Yes | Yes | Yes |
| Tax and accounting considerations | | | |
| Corporate tax payable? | 0% | 0% | 0% |
| Withholding tax on dividends paid overseas | 0% | 0% | 0% |
| Annual financial statements required? | Yes | Yes | Yes |
| Statutory independent annual audit required? | Yes | Yes | Yes |
| Export taxes on goods and local GST or VAT? | 5% | 5% | 5% |
| Best holding company to extract dividends? | Marshall Islands | Brunei | Singapore |
| Tax incentives for manufacturing start-ups? | Yes | Yes | Yes |
| Access to double tax treaties? | 66 | 66 | 61 |
| Number of tax exempt free zones available? | 31 | 31 | 3 |
| GCC member? (click link) | Yes | Yes | Yes |
| Corporate bank account considerations | | | |
| Healy Consultants’ preferred bank? | Noor Bank | Emirates NBD | Arab Bank |
| How long to open bank account? | 5 weeks | 4 weeks | 2 weeks |
| Do I travel to open the bank account? | No | No | No |
| Travel required to activate the bank account? | Yes | Yes | Yes |
| Can open a US$ corporate bank account? | Yes | Yes | Yes |
| Good internet banking available? | Yes | Yes | Yes |
| Funds transfer currency controls | No | No | No |
| Bank rating by World Economic Forum? | 5.9 | 5.9 | 5.8 |
| Ease of getting credit by WEF? score (1-7) | 4.7 | 4.7 | 4.2 |
| Employment considerations | | | |
| Average skilled labour monthly salary? | US$3,500 | US$2,150 | US$3,500 |
| Average unskilled labour monthly salary? | US$800 | US$800 | US$2,000 |
| Average pension and insurance benefits % of salary? | 12.5% | 12.5% | 9 % |
| Minimum national salary? | None | None | US$800 |
| Mandatory labor unions? | No | No | No |
| Minimum notice to dismiss employees? | 1 month | 1 month | 1 month |
| Minimum redundancy indemnity? | 1 month | 3 weeks | N/A |
| Quota ratio of foreign workers to local staff? | 3 to 1 | 3 to 1 | 2 to 1 |
| How long to get work permit approved? | 4 weeks | 5 weeks | 3 weeks |
| Manufacturing considerations | | | |
| Cost per unit of electricity? US$ | 0.04 | 0.04 | 0.08 |
| Rank for getting electricity (click link) | 4 | 4 | 73 |
| Warehousing space rental (per sq. m.)? | US$30 | US$20 | US$10 |
| Ranking for transport infrastructure (click link) (1-7 best) | 6.6 | 6.6 | 4.7 |
| Ranking for customs procedures out of 10? (click link) | 6.0 | 6.0 | 4.7 |
| Average import duty % on raw materials? | 0% | 0% | 0% |
| Government incentives for startups? | Yes | Yes | Yes |
| Computer literacy % of population? | 90% | 86% | 79% |
| Internet connectivity rating? | Strong | Strong | Strong |
| Global business efficiency index? (click link) | 23 | 23 | 26 |
| Preferred manufacturing city? | Dubai | Abu Dhabi | Manama |
| Proximity of sea port in kilometers? | 11 | 66 | 13 |
| Proximity of airport in kilometers? | 31 | 36 | 7 |
| Proximity of rail in kilometers? | 0 | 0 | 0 |
| Literacy % of population | 90% | 90% | 95% |
| Local purchasing power (GDP per capita) | US$43,876 | US$43,876 | US$24,692 |
| Local market size (in millions) | 2 | 2 | 1 |
| Average annual inflation rate in 2014? | 3% | 3% | 2.5% |
| Average unemployment rate in 2014? | 2.6% | 2.6% | 4.1% |
| Ease of doing business index (click link) | 22 | 22 | 53 |
| Country rating (click link) | AA | AA | BBB |
| Estimate of engagement costs | US$ | US$ | US$ |
| Healy Consultants engagement fees | 7,950 | 7,950 | 10,900 |
| Government fees | 5,350 | 6,700 | 1,031 |
| Corporate bank account opening | 4,950 | 4,950 | 2,950 |
| Project management fees | 3,950 | 3,950 | 7,300 |
| Other fees (refer to the invoice for a breakdown) | 0 | 1,950 | 950 |
| Estimate of total outgoings in Year 1 | 28,187 | 22,633 | 23,131 |
| Draft sales invoice attached | View invoice PDF | View invoice PDF | View invoice PDF |
