Quick review offshore jurisdictions

Jurisdictions Corporate tax Resident Director Audit Accounting Records
Cyprus LLC 12,5% No Yes Yes
Scotland LP 0% N/A No Should be prepared
Marshall Islands IBC 0% No No No (For Banks only, if requested)
BVI IBC 0% No No No (For Banks only, if requested)
Belize IBC 0% No No No (For Banks only, if requested)
Gibraltar NR 0% No Yes, but has exceptions Yes
Hong Kong PL 0% – 16.5% No Yes, but has exceptions Yes
Seychelles IBC 0% No No No (For Banks only, if requested)
Singapore Pte. Ltd. 0% – 17% Yes Yes, but has exceptions Yes
Luxemburg SARL 0 – 30% No Yes, but has exceptions Yes
Lichtenstein AG 12.5% No No Yes
Delaware LLC 0% No No No (For Banks only, if requested)
Ras al-Khaimah IBC 0% No No No (For Banks only, if requested)
Mauritius GBC 1 0 – 3% Yes Yes, but has exceptions Yes
Mauritius GBC 2 0% No No No (For Banks only, if requested)
Curacao 2.4% – 3%. Yes No Yes
Panama 0% No No No (For Banks only, if requested)
Costa Rica 0% No No No (For Banks only, if requested)
Malta LLC 5% – 35% Yes Yes Yes
Nevis IBC 0% No No No (For Banks only, if requested)
Anguilla IBC 0% No No No
Bermuda 0% Yes Yes Yes
Bahamas IBC 0% No No No (For Banks only, if requested)
Cayman Islands Exempt 0% No No No (For Banks only, if requested)
Cook Island IC 0% No No No (For Banks only, if requested)
Saint Vincent IBC 0% No No No (For Banks only, if requested)
South Africa Pty Ltd 0 – 28% No Yes, but has exceptions Yes
Vanuatu IBC 0% No No No (For Banks only, if requested)

 

How to choose right jurisdiction?

Before choosing an offshore jurisdiction, which will be used on your business best interests. You should pay attention on the following main factors:

  • Incorporation expenses

A good offshore jurisdiction charges affordable fees for the actual registration and the maintenance costs incurred in running an offshore company. Costs of incorporation and maintenance of the company correlate with the rating of the jurisdiction. Remember that reliable provider has no purpose to reduce the price of the services.

  • The Popularity and reputation of an offshore jurisdiction

When choosing an offshore country, it is necessary to examine which other companies with similar business favor the location. Learn more about the structures of big corporations, offshore jurisdiction that is preferred by credible and renowned companies is most likely suitable and fits a profitable and legal business criterion. Analyze the reputation of an offshore jurisdiction by examining how other corporations rank a particular jurisdiction.

  • The average processing duration

Before settling on a particular offshore jurisdiction, it is imperative to find out how much time the registration process takes. It is advisable to settle on an offshore jurisdiction that promptly registers foreign companies. Quick processing time speaks to the effectiveness of the relevant business authority.

  • Availability of offshore banking facilities

Before settling on a viable offshore destination, it is crucial to familiarize yourself with a country’s banking system. It is recommended that a company chooses an offshore jurisdiction that has a well-developed and highly functioning banking system that offers much-needed facilities such as; online banking, brokerage facilities, offshore credit cards, offshore debit cards and merchant accounts.