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Benin is a country located in West Africa with its capital in Porto-Novo and seat of government in Cotonou. The Government of Benin encourages foreign investment through initiatives like the Presidential Investment Council established in 2006. There are free trade zones in Cotonou benefiting landlocked neighbors. To incorporate a company in Benin, an incorporation package must be presented to the Chamber of Commerce and Industry's Corporate Formalities Center including choosing a unique company name. The limited liability company, SARL, is a common structure where foreigners can own 100% and requires a minimum of one manager and shareholder with a share capital of 1,000,000 XOF.Doing Business in Angola
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Angola is strategically located on the west coast of Africa and acts as a gateway to central and southern Africa via road and rail networks. Angola's government is committed to protecting private investors through its National Private Investment Agency, which oversees foreign direct investment. Angola has a growing economy fueled by its oil exports - it is the second largest oil exporter in Africa and has seen high growth rates over the past decade. Common forms of business representation include limited liability companies, representative offices, and branches, with branches being most common for foreign firms. The licensing process involves obtaining approvals from the Ministry of Trade and Ministry of Commerce. Companies are subject to taxes such as industrial tax of 35% on profits, withholding tax ofDoing Business in Algeria
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Algeria is the second largest country in Africa and has a population of over 37 million people. It has a growing economy focused on hydrocarbons but is seeking to diversify into other industries to provide jobs for young people and reduce dependence on oil and gas exports. Foreign companies can operate in Algeria by establishing a limited liability company with at least two partners or opening a branch office, which allows them to be treated like a local entity. Tax rates in Algeria include a corporate profits tax of 30% and VAT of 7-17% depending on the product. Setting up a limited liability company requires a minimum share capital, two shareholders, a managing director, and filing annual returns and taxes.Doing Business in Oman
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Oman is the third largest country in the Arabian Peninsula and has achieved significant economic growth. While oil remains the primary source of income, the development of the non-oil sector is expected to make Oman's growth and development strategy more sustainable long-term. The government encourages foreign investment to further the country's overall development by supplementing domestic investment and facilitating technology transfers and global business connections. Oman is committed to a free market economy based on open competition in which the private sector and foreign investors are supported.Doing Business in Nigeria
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Nigeria is located in Western Africa between Benin and Cameroon. As Africa's most populous country with over 170 million people, Nigeria is also the 12th largest oil producer and 8th largest oil exporter. While oil dependent, the government is working to develop other sectors like roads, agriculture and power. Nigeria offers beneficial investment opportunities as the top stock exchange in Africa and allows 100% foreign ownership of companies. Registering a limited liability company in Nigeria takes 3-4 weeks and allows full foreign ownership and control with a minimum of two shareholders and directors of any nationality.Doing Business in Saudi Arabia
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Saudi Arabia is the largest Arab state in Western Asia by land area and the second largest in the Arab World. It is recognized as a powerhouse of the Middle East and is poised to become one of the top 10 most competitive nations. Foreign companies establishing industrial projects in Saudi Arabia are exempt from custom duties on imported equipment and machinery. Limited liability companies can be wholly owned by foreigners without a Saudi shareholder. The establishment of SAGIA coordinates and issues investment licenses within 30 days and the licensed company must sponsor foreign investors and employees. Taxes are 20% of total profits for companies and Zakat of 2.5% is paid annually on capital and resources excluding fixed assets.More Related Content
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Doing Business in BotswanaIntuit Consultancy
油
Botswana is a landlocked country in Southern Africa that has implemented policies to guarantee investor protection for over 40 years. It has a stable economy with strong fiscal policies and economic freedom. To register a company, entrepreneurs submit an application with the name reservation and statutory compliance declaration. Botswana LLCs must have between 1-25 shareholders and at least one director and shareholder. The representative office allows for promoting the parent company but no direct sales. Licensing can be obtained from industrial or trade departments. Corporate tax is only 15% for manufacturers and zero for some approved companies. Personal income tax has a highest rate of 25% and VAT registration is with the customs department.Doing Business in Benin
Doing Business in BeninIntuit Consultancy
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Benin is a country located in West Africa with its capital in Porto-Novo and seat of government in Cotonou. The Government of Benin encourages foreign investment through initiatives like the Presidential Investment Council established in 2006. There are free trade zones in Cotonou benefiting landlocked neighbors. To incorporate a company in Benin, an incorporation package must be presented to the Chamber of Commerce and Industry's Corporate Formalities Center including choosing a unique company name. The limited liability company, SARL, is a common structure where foreigners can own 100% and requires a minimum of one manager and shareholder with a share capital of 1,000,000 XOF.Doing Business in Angola
Doing Business in AngolaIntuit Consultancy
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Angola is strategically located on the west coast of Africa and acts as a gateway to central and southern Africa via road and rail networks. Angola's government is committed to protecting private investors through its National Private Investment Agency, which oversees foreign direct investment. Angola has a growing economy fueled by its oil exports - it is the second largest oil exporter in Africa and has seen high growth rates over the past decade. Common forms of business representation include limited liability companies, representative offices, and branches, with branches being most common for foreign firms. The licensing process involves obtaining approvals from the Ministry of Trade and Ministry of Commerce. Companies are subject to taxes such as industrial tax of 35% on profits, withholding tax ofDoing Business in Algeria
Doing Business in AlgeriaIntuit Consultancy
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Algeria is the second largest country in Africa and has a population of over 37 million people. It has a growing economy focused on hydrocarbons but is seeking to diversify into other industries to provide jobs for young people and reduce dependence on oil and gas exports. Foreign companies can operate in Algeria by establishing a limited liability company with at least two partners or opening a branch office, which allows them to be treated like a local entity. Tax rates in Algeria include a corporate profits tax of 30% and VAT of 7-17% depending on the product. Setting up a limited liability company requires a minimum share capital, two shareholders, a managing director, and filing annual returns and taxes.Doing Business in Oman
Doing Business in OmanIntuit Consultancy
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Oman is the third largest country in the Arabian Peninsula and has achieved significant economic growth. While oil remains the primary source of income, the development of the non-oil sector is expected to make Oman's growth and development strategy more sustainable long-term. The government encourages foreign investment to further the country's overall development by supplementing domestic investment and facilitating technology transfers and global business connections. Oman is committed to a free market economy based on open competition in which the private sector and foreign investors are supported.Doing Business in Nigeria
Doing Business in NigeriaIntuit Consultancy
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Nigeria is located in Western Africa between Benin and Cameroon. As Africa's most populous country with over 170 million people, Nigeria is also the 12th largest oil producer and 8th largest oil exporter. While oil dependent, the government is working to develop other sectors like roads, agriculture and power. Nigeria offers beneficial investment opportunities as the top stock exchange in Africa and allows 100% foreign ownership of companies. Registering a limited liability company in Nigeria takes 3-4 weeks and allows full foreign ownership and control with a minimum of two shareholders and directors of any nationality.Doing Business in Saudi Arabia
Doing Business in Saudi ArabiaIntuit Consultancy
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Saudi Arabia is the largest Arab state in Western Asia by land area and the second largest in the Arab World. It is recognized as a powerhouse of the Middle East and is poised to become one of the top 10 most competitive nations. Foreign companies establishing industrial projects in Saudi Arabia are exempt from custom duties on imported equipment and machinery. Limited liability companies can be wholly owned by foreigners without a Saudi shareholder. The establishment of SAGIA coordinates and issues investment licenses within 30 days and the licensed company must sponsor foreign investors and employees. Taxes are 20% of total profits for companies and Zakat of 2.5% is paid annually on capital and resources excluding fixed assets.Doing Business in Egypt
Doing Business in EgyptIntuit Consultancy
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Egypt is a transcontinental country located in both Africa and Asia. It has an extremely large population, making it one of the most densely populated countries in the region. Certain industries like mining, tourism, real estate, and technology allow for wholly foreign ownership in Egypt.
To set up a business, foreigners can establish an Egyptian limited liability company (LLC) which allows for 100% foreign ownership. The LLC requires at least two shareholders of any nationality and one resident Egyptian manager. The process of incorporation takes 1-2 weeks.
Licenses may be required depending on the business activities. Importation and operations in Sinai require additional approvals. Foreign companies pay corporate taxes of 20-25% and nonDoing Business In Qatar
Doing Business In QatarIntuit Consultancy
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Qatar has the world's third largest natural gas reserves and seeks to attract foreign investment and capital to diversify its economy. It offers various tax incentives for foreign investors and allows foreigners to own up to 49% of local entities in most sectors. To set up a business, foreigners can establish a limited liability company which requires at least two shareholders, one director and a Qatar resident secretary. The incorporation process takes around three weeks and the entity must file annual returns and taxes.Doing Business In Bahrain
Doing Business In BahrainIntuit Consultancy
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The Kingdom of Bahrain is an archipelago of 36 islands in the Persian Gulf, east of Saudi Arabia. Bahrain's legal system is based on Islamic law and English common law. The government of Bahrain aims to attract foreign investment and sees it as a top priority. Bahrain rates 34th worldwide in attracting foreign direct investment, averaging $3.6 billion over the past 3 years. Foreign companies can wholly own LLCs in Bahrain with no restrictions on shareholder or director nationality. Bahrain also has several free zones allowing 100% foreign ownership with no customs duties or government rebates. Foreign companies must obtain a license from the Ministry of Industry and Commerce to operate a business in Bahrain.Doing Business in Kuwait
Doing Business in KuwaitIntuit Consultancy
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Kuwait is an Arab country located in Western Asia on the northeastern edge of the Arabian Peninsula. It has the third highest per capita income in the Middle East due to oil production, which is targeting 3.65 million barrels per day by 2020. Foreign entities can enter the Kuwaiti market by establishing a company, signing a joint venture, appointing a commercial agent or representative, or applying for a license under foreign investment law. Foreign individuals and companies can incorporate as a limited liability company where Kuwaitis must hold at least 51% shares or as a closed joint stock company where foreigners can hold up to 49% with approval. Foreign contractors must obtain certificates to export machinery from Kuwait. Corporate bodies engaged in commercial activitiesIntuit News Alert
Intuit News AlertIntuit Consultancy
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Intuit Management Consultancy introduces new Private Client and Family Advisory Services to help clients achieve their financial objectives through international trusts, private foundations, investment funds, and wealth structuring. The firm announces the hiring of Johnson K.Rajan to head the new division given his 13 years of experience in trusts, fiduciary, and fund administration.Ad