Global location: Iraq is among the most expensive countries in the world in the cost of establishing a business
Global location: Iraq is among the most expensive countries in the world in the cost of establishing a business
2021-07-11 04:40
Shafaq News/ Big Think Edge published data about the cost of establishing a business in the countries of the world, and showed that the fees for opening such activities are the most expensive in the Middle East.
The website, which drew its data from the Doing Business 2020 report issued by the World Bank, revealed that Iraq is among the most expensive countries in the world in terms of costs for starting a business, which amounts to 1574 dollars.
According to the report, the UAE is considered the most expensive place in the world to start a business and is far from the least expensive, with fees amounting to 7,444 dollars, while in Qatar it is 3,952 dollars, in Saudi Arabia it is 1,267 dollars, in Kuwait 815 dollars, Oman 502 dollars, and in Bahrain 231 dollars.
On the other hand, the fees for setting up a business in Egypt are $13, which is equal to 7 percent of the average monthly income of an individual.
According to the site, governments often require a company to have a minimum paid-in capital – a set amount of cash in the bank. These processes are not only expensive, but they are complex and may take a long time.
Based on the above, he found that the UAE is the most expensive country to establish a company. He also noted that there are no fees for starting a business in Rwanda during the first two years, while the laws in Slovenia provide for a capital of 7,500 euros and without any fees for any business project.
shafaq.com
