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Indonesia is the largest archipelago in the world, located between mainland Southeast Asia and Australia. The country consists of over 17,000 islands, of which only 6,000 are inhabited. Due to its complex and unique geographical location, Indonesia is extremely diverse in its ecosystem and fascinating with its heritage and history.
Business Environment in Indonesia The Indonesian government has been working hard on regulatory and legal reforms to make the country more attractive to foreign investment, which plays an important role in Indonesia's economy. Indonesia is a producer and exporter of oil and gas, various mining products such as nickel, coal and tin, as well as agricultural products and fisheries. Local and international banks and other non-bank financial institutions are the main sources of money in Indonesia.
In Indonesia, as in many other countries around the world, prevailing cultural norms are also reflected in the business environment. Because of this aspect, companies in Indonesia tend to be highly hierarchical, with all decision-making controlled by a small group of executives. Similarly, the same sense of hierarchy carries over to the entire organization where employees prefer the manager to make the decisions and assign tasks. Initiative and proactive thinking are now seen more as a criticism of management than as a positive and desirable action on the part of an employee. The hierarchical nature of most organisations, and particularly governmental institutions, results in enormous bureaucracy.
Business structures in Indonesia There are several possible types of business structure in India and every investor should carefully consider the most suitable structure of their company considering the industry, number of employees, capital structure and various other aspects.
Limited Liability Company (PT) Limited Liability Company or Perseroan Terbatas (PT) in Indonesia is the most popular type of company structure among local entrepreneurs. A PT requires a director, a commissioner (can be a non-resident) and at least two local shareholders. The chief responsibilities of the commissioner are the oversight of the company, reviewing the annual accounts and approving the budget prepared by the board of directors.
According to the company law, Limited liability companies are further divided into following categories:
Micro Company – if net capital does not exceed 50 million rupiahs (3,745 USD) (excluding buildings and land) or annual sales turnover does not exceed 300 million rupiahs (22,171 USD). Small Company - if net capital is between 50 and 500 million rupiahs (3,745 USD to 37,435 USD) or annual sales turnover is between 300 million and 2.5 billion rupiahs (22,171 USD to 184,763 USD. Medium Company - if net capital is between 500 million and 10 billion rupiahs (37,435 USD to 739,053 USD) or annual sales turnover is between 2.5 and 50 billion rupiahs (184,763 USD to 3,695,267 USD). Large Company – if net capital is over 10 billion rupiahs (739,053 USD) or its annual sales turnover is more than 50 billion rupiahs (3,695,267 USD). If foreigners are employed in the company, it has to be at least medium-sized. As the incorporation of a PMA generally takes a significant amount of time, it is possible to use the Indonesian nominees for the initial setup of an LLC in order to reduce the incorporation procedure by approximately 2 months.
Foreign owned LLC (PMA) If a limited liability company is partly or wholly owned by foreign investors it is called Penanaman Modal Asing (PMA). PMA is required to receive an approval from the Capital Investment Coordinating Board before any business activity can take place in Indonesia. Furthermore, under this business structure, the owners are required to present a business plan for a minimum of 1.2 million USD and deposit at least 300,000 USD as share capital.
PMA requires at least one resident director, two shareholders and one commissioner. In case the company is fully owned by foreigners, the owners are obliged to sell at least 5% of the company to an Indonesian citizen or a domestic business within the first 15 years of its incorporation. There are particular industries, in which foreign businesses need to obtain operating licenses in order to operate. Some business sectors are fully restricted to foreign companies or only allow businesses with partial foreign ownership. For example, in the mining sector at least 20% of the company needs to be owned by a local shareholder within 5 years since its incorporation.
Public companies According to the Indonesian Company Law, public companies are required to have a minimum of 300 shareholders and at least 3 billion rupiahs as paid-up capital. While public companies are subject to more strict regulatory provision if compared to PT or PMA, it is not compulsory for public companies to be listed on PT Bursa Efek Indonesia (national stock exchange).
Partnerships Partnership in Indonesia is a common type of business structure, but only Indonesian nationals are allowed to form partnerships.
Persekutuan Perdata (PP) – partnership between two or sometimes more people with an aim to make a profit. Firma (Fa) – open partnership incorporated to hold a business name used by trading and service enterprises. Persekutuan Komanditer (CV) – a limited partnership with one partner allowed investing money in the business and not managing the company.
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Private banking includes investment, financial, and other day-to-day banking services provided by banks and other financial institutions to high-income and other wealthy individuals, commonly referred to as high net worth individuals. In general, the term retail banking refers to the more personal approach and services provided by the bankers as part of the private banking service package compared to mass market retail banking. Private banking is typically a subset of wealth management and encompasses numerous services, such as general banking, brokerage, discretionary wealth management, wealth structuring, insurance, advisory, lending, investment services, and even tax planning.
Historically, opening a private bank account was only possible for very wealthy individuals with over $2 million in liquidity. Even now there are banks that require an even higher amount to be deposited into your bank account to join their exclusive private banking. Typically, the largest deposit amounts are required by the offshore private banks and they can easily exceed the $5 million level. There are now banks that offer to open a personal, or sometimes referred to as a prime bank account, with significantly smaller deposits. Certainly, the personal attitude as well as the scope and quality of the services offered will differ accordingly.
Customer service is essential for personal bank account holders, among others. When you entrust your wealth to professionals to manage, you want to be confident that they are making the right decisions, working in your best interests and keeping your money safe.
Banking in Malta overview Malta, with its rapidly growing banking sector and specialized niches such as trustee services, wealth management and private banking, has managed to establish itself as the international banking center in the Mediterranean. Banking has been the backbone of Malta, supporting the growth of numerous other sectors. Domestic banks' capital buffers are among the highest in Europe and solvency ratios are consistently maintained at levels almost twice the EU average. The average core capital ratio of Maltese banks is almost double the ratio required by Basel III. Thanks to a significant transformation over the last decade, the Maltese banking sector has shifted from a tightly controlled public sector to a liberal and privately owned sector. This has helped attract international companies to set up operations in Malta and continue to expand into Europe, Africa and the Middle East.
Whether you are looking to open a personal or corporate account, Malta offers numerous benefits. The country's banking sector was ranked 10th most solid among 144 countries in the world by the World Economic Forum in its 2014-15 Global Competitiveness Report. The diverse banking industry is not only a trusted and safe place for your savings, but also offers its customers a wide range of quality services, including commercial and project finance, custodian banking and specialist wealth management services. And this is carried out by highly experienced English speaking legal and financial professionals. In addition, Malta's fiscal policy is one of the main drivers for creating an attractive investment environment. The country's tax system complies with EU non-discrimination principles and shares around 70 double taxation treaties, allowing both businesses and individuals to achieve considerable tax efficiency if structured and planned properly.
Private bank account in Malta If you are a Maltese resident or planning to transfer your funds to a Maltese bank from abroad, you should consider the personal attitude and professional services guaranteed by the Maltese private banking. Malta is rich with banks, especially considering the size of the country, therefore you are able to choose among numerous possibilities. In case you are a foreign investor, you might choose the biggest international bank in Malta – HSBC (or maybe you already have an account in this bank in your home-country, which would significantly ease the process of bank account opening in Malta). HSBC also offers highest quality private banking for private individuals with capabilities to deposit at least 70,000 EUR.
Being eligible for private banking opens a whole new world of benefits for you and your family. Interestingly, all these benefits are for free as long as you hold at least 70,000 EUR in your account. The benefits include preferential rates and terms of overdraft and debit cards, free internet and telephone banking, exclusive services from other banking divisions, such as loans and insurance, and of course – dedicated relationship manager available to you and your family 24 hours a day, 7 days a week.
In order to open a private bank account, the main criterion is the set minimum amount of deposit you need to keep in your bank account. Other requirements are related to Know Your Client procedures in order to make sure that your funds are not coming from illegal activities. Upon opening a private bank account you would need to declare your passport, a proof of residency and documents verifying the legitimacy of your income (such as inheritance certificate, financial statements, proof of sale of real estate or business, etc.). Generally, the opening procedure takes more time in comparison to traditional checking account due to the compliance procedures carried out by the bank. After you apply for a private bank account online or via telephone and provide all the necessary documents, a special committee will evaluate your eligibility as their client and your personal banker will defend your interests.
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The logistics performance index of Estonia is 3.35. It indicates satisfactory performance - in general, traffic is handled well, some shortcomings in certain areas are possible, but overall the logistics system is reliable and ready to handle predictable traffic volumes.
Customs performance is rated at 3.4. This indicates satisfactory performance - the customs clearance procedure is generally effective, although a long time can occasionally be a problem; the customs system certainly does not discourage international business activities; required documents and fees are generally publicly available.
The infrastructure quality in Estonia is rated at 3.34. It indicates a satisfactory quality - roads, railways, ports and other facilities are capable of handling significant traffic at any time, and are also suitable for various types of transport vehicles and ships.
International shipping quality is 3.34. It indicates satisfactory performance - the services are reasonable and the prices are not too high and usually correspond exactly to the quality, although there is still room for improvement.
The competence of logistics service providers is rated at 3.27. The providers are competent - they ensure a good quality of their services and almost always maintain this level; Deficiencies, while still possible, are usually minor and do not discourage further use by providers.
Shipment tracking options are rated at 3.2. It indicates satisfactory performance - the tracking systems provide all the basic information, as well as additional data about shipments; Mostly it also has a well-established cooperation with foreign and international tracking systems and usually offers information in several languages.
Tracking options for shipments are rated at 3.55. This indicates satisfactory performance - most shipments arrive on time and within scheduled time frames; late arrivals are still possible, albeit uncommon.
In Estonia, 100% of the population has access to electricity. Estonia has 18 airports nationwide. There are 865,494 internet hosts in Estonia. The number of road motor vehicles per 1000 inhabitants in Estonia is 45.
Road network The total length of roads in Estonia is 58,412 km (36,303 miles). Of these, 115 km (71 miles) of roads are classified as freeways, dual carriageways, or freeways.
Gas price On average, one liter of petrol costs USD 1.46 in Estonia. A liter of diesel would cost $1.1.
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Germany is a social market economy with a large capital stock, a highly qualified workforce, a high level of innovation and low levels of corruption. It is the largest economy in Europe and the fourth largest nation in the world in terms of nominal GDP. In addition to the intelligent economy and productive market structure, Germany also offers investment opportunities in its real estate segment.
What influences the German real estate market? The volatility of the real estate market can be explained by numerous macroeconomic and social factors in the country. Due to the zero interest rate policy of the European Central Bank, mortgage interest rates remain at record lows and offer historically favorable financing conditions. In addition, the quantitative easing (QE) policy being pursued by the ECB is leading to higher liquidity, increasing investment pressure as investors seek potential investment opportunities with above-average returns in relatively safe sectors. QE is also weakening the euro, making the German real estate market even more attractive to investors from outside the eurozone.
New projects and construction activities lag far behind the growing demand, which leads to rising property prices. The German Property Index (GPI), which measures the return on all real estate investments in Germany, reached 14.7% in 2016, a record level since German reunification. The demand for high-quality real estate is increasing due to the demographic and overall economic development in Germany – ongoing urbanization and growing metropolitan areas. Germany is experiencing a positive reversal in birth rates and other demographic factors. The birth rate rose from 1.39 to 1.50 per woman between 2011 and 2015. In addition, Germany has a persistent migration surplus, which can partially compensate for the demographic imbalance.
Commercial real estate, especially office space, is also in high demand due to record employment and the low unemployment rate, and is also benefiting from increasing purchasing power and high consumer spending. Logistics and warehouse real estate is crucial for growing businesses and is therefore in high demand due to the increase in wholesale and retail trade. Below you will find an overview of the most important sectors of the German real estate market.
Residential real estate The residential real estate market was able to recover from the financial crisis and market stagnation in the years after 2009. Residential property construction projects have risen steadily in recent years, resulting in around 277,000 completed residential units in 2016. 2015 Residential real estate With a total investment of EUR 170 billion, 60% of the total construction volume in Germany went into construction. Despite a significant increase in building permits issued (375,400 permits issued in 2016) and a record level of completed projects, demand still significantly exceeds the volume of completed residential projects.
Future prospects call for applications for new building permits to increase to 272,000 units per year by 2020 and further slow down to 230,000 units per year by 2030. Meanwhile, the number of residential properties could increase to 380,000 units in the short term due to increased immigration.
However, the demand for residential real estate differs greatly from region to region. In some regions, the gap between demand and supply could close soon, especially in eastern Germany. In some regions, especially in prosperous metropolitan areas, the available housing units will remain very scarce.
Along with the insufficient supply, the asking rents have risen accordingly. In large cities in particular, the trend towards rising rents is quite dynamic. For example, the annual growth rate of residential rents in Germany has been around 1.7% since 2004. In the meantime, rents in Berlin and Munich have risen by 3.9% and 3.5% annually, respectively. Both cities recorded an annual growth in purchase prices of 6% in this real estate sector.