Jurisdiction – what country to choose for incorporation?
We will be glad to pick up the most suitable jurisdiction for you. Please read through the below review to make a choice. For your convenience the countries are split in a few groups as each group has its own specific advantages.
Panama, Seychelles, Vanuatu, Samoa, Anguilla, Belize, British Virgin Islands, St. Vincent & Grenadines, St. Kitts & Nevis, Liberia, IOM and Marshall Islands. If your business environment and partners have nothing against doing business with these countries we would recommend incorporating there. Absence of reporting requirements and possibility to utilize nominees make companies registered in these countries very convenient and flexible for any business purpose.
Panamanian Corporations - very affordable and incorporated within 24-48 hours. No reporting, no taxation if no income is received from the local source. Very wide scope of utilization: asset protection, international trade, holding purposes. A Panamanian company can also be used for participation in the Friendly Nations Visa program to obtain Panamanian permanent residency – this is probably the only immediate residency program of this sort.
The Seychelles, Vanuatu, Samoa, Anguilla, Belize, British Virgin Islands, St. Vincent & Grenadines, St. Kitts & Nevis, Liberia and Marshall Islands – these jurisdictions offer similar advantages for incorporation including no reporting, prompt registration procedure, no local taxation. Government does not interfere with the companies’ business and companies’ existence goes on as long as the annual renewals are paid. Companies can be utilized for any purpose, although there are some local peculiarities, e.g. BVI is quite popular for yacht registration, Liberia offers Liberian flag to non-Liberian entities if they form a foreign maritime entity.
So if you have no specific requirements to the country of incorporation, you have a wide choice then. Please visit the corresponding web page for the details.
The Isle of Man (IOM) should be mentioned separately because it offers a wide array of services from incorporation of trusts and conventional companies to e-gaming, e-commerce companies, aircrafts and yachts registration. It is well integrated into the EU economy with VAT and good banking opportunities in the IOM. The IOM is the most expensive jurisdiction either and you will need local IOM directors to open a bank account in the IOM.
The Marshall Islands should be mentioned separately as they allow registering a company and obtaining the corporate documents package within shortest time and at very affordable price. Shareholders and directors are not public. This jurisdiction is relatively new and is less associated with notorious offshore havens.
Countries with low tax (no tax) on corporate profit:
Gibraltar, Cyprus, Scotland, Hong Kong, Montenegro, Ireland. If offshore havens do not work for your business, these premium jurisdictions will allow operating with little taxation (or with no taxation in some cases). Please visit the specific web page for more details.
Gibraltar, being part of the EU, can be very convenient if you work with the EU and need to show the TIN (taxpayer identification number) in your invoices. Incorporation in Gibraltar is cost effective and non-resident companies are not taxed on their non-Gibraltar profit.
Cyprus and Scotland have their own advantages: membership in the EU and in the EU VAT, which can be beneficial for trading with the EU. A Cyprus limited non-resident company is taxed only on the income generated in Cyprus, therefore profit made abroad is not taxed. A resident company in Cyprus can obtain a tax residence certificate to show that company is taxable in Cyprus (even though tax may be zero for a holding company). A Scottish Limited Partnership is not taxed in Scotland/UK because SLP members are supposed to pay taxes at the place of their residence.
Hong Kong implements territorial tax system so the companies registered in HK are not taxed on the profit made outside Hong Kong. Reporting and accounting requirements are rather strict but HK companies are well accepted throughout the world.
Ireland has made serious efforts to attract businesses looking for low tax (12.5% on trading income) and a business hub in the EU. Ireland is an ideal location for an EU sales and distribution center. The agents make sells on behalf of the principal entity which can be registered any place, including an offshore haven. Irish company is relatively expensive to set up and maintain, however some extra cost can be paid to be incorporated in this prestigious jurisdiction.
Besides 9% corporate taxations (the lowest in Europe) Montenegro offers some special advantages for the company owners, namely financial privacy (there’s no information exchange with the EU or US) and temporary residency. A personal visit will be required to set up a bank account.
We can set up a company for you and obtain EIN in any US state, Delaware, Washington D.C., Oregon being most popular. A limited company registered in the USA is cost-efficient and easy to incorporate, however the banks worldwide do not welcome US companies for quite a long time so your banking options will be limited.
Non-resident bank account
Opening a corporate account is the next step after the incorporation usually. We assist our customers with opening bank accounts in Switzerland, Ireland, Montenegro and Cyprus.
If you would wish to proceed with registering a company or need more details, please send a message. We will be happy to assist.
Please request additional information
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or Call: + 382 63 407304
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