Offshore Company Jurisdictions Comparison Chart. Offshore Companies Comparison.

Offhore Jurisdictions Comparison
KEY OFFSHORE JURISDICTIONS
Jurisdiction/Type of Company Taxation Local directors  required Publicly accessible record of directors Publicly accessible record of members Audit requirements Requirement to file accounts
Anguilla IBC Nil No No No No No
Bahamas IBC Nil No Yes No No No
Belize IBC Nil No No No No No
British Virgin Islands BC Nil No No No No No
Cayman Islands Exempt Nil No No No No No
Cook Islands IC Nil No No No No No
Dominica IBC Nil No No No No No
Marshall Islands IBC Nil No No No No No
Nevis BusinessCorporation Nil No No No No No
Nevis LLC Nil No No No No No
Panama Non Resident Nil No Yes Optional No No
Samoa IC Nil No No No No No
Seychelles IBC Nil No No No No No
St Vincent IBC Nil No No No No No
Turks and Caicos Islands IBC Nil No No No No No
UAE (RAK Offshore) Nil No No No No No
UAE (RAK Free Zone) Nil No No No No No
Vanuatu Exempt Nil No No No No No
Vanuatu IC Nil No No No No No
POPULAR OFFSHORE JURISDICTIONS
Jurisdiction/Type of Company Taxation Local directors  required Publicly accessible record of directors Publicly accessible record of members Audit requirements Requirement to file accounts
Cyprus IBC

12.5%

Advisable Yes Yes Yes Yes
Gibraltar Non Resident Nil No Yes Yes Yes, but small company exceptions Yes
Isle of Man Resident LLC Fiscally transparent No Yes No No No, but must be available for inspection
Isle of Man Limited Partnership Nil Yes Yes Yes No No, but must be available for inspection
Isle of Man Private Limited  0% – 10% No Yes Yes Yes but small company exceptions Yes
Isle of Man Hybrid 0% – 10% No Yes Yes Yes No
Isle of Man New Manx Vehicle 0% – 10% No Yes Optional No No
Hong Kong Private Limited Nil on Foreign Profits No Yes Yes Yes Yes
Liechtenstein AG 12,5% No No No No Yes
Luxembourg S.A.R.L. Normal rates Advisable Yes No Yes Yes
Luxembourg 1990 SOPARFI Holding Normal rates Advisable Yes No Yes Yes
Mauritius GBC I 0% – 3% Yes No No Yes Yes
Mauritius Offshore GBC II Nil No No No No Yes
New Zealand Ltd 0% – 30% Yes Yes Yes No Yes
Scotland LP Fiscally transparent Not apllicable Not apllicable No No No
Singapore Private Limited Nil on Foreign Profits Yes Yes Yes Yes but small exemptions Yes but small exemptions
United Kingdom LLP Fiscally transparent Not apllicable Not apllicable Yes Yes but small company exceptions Yes
United Kingdom Private Limited 20% – 26% No Yes Yes Yes but small company exemptions Yes
CARIBBEAN OFFSHORE JURISDICTIONS
Jurisdiction/Type of Company Taxation Local directors  required Publicly accessible record of directors Publicly accessible record of members Audit requirements Requirement to file accounts
Anguilla IBC Nil No No No No No
Bahamas IBC Nil No Yes No No No
Barbados IBC 1% – 2.5% No Yes No Yes Yes
Belize IBC Nil No No No No No
Bermuda Exempt Nil Yes No No Yes Yes
BVI BC Nil No No No No No
Cayman Islands Exempt Nil No No No No No
Dominica IBC Nil No No No No No
Nevis Business Corporation Nil No No No No No
Nevis LLC Nil No No No No No
St Vincent IBC Nil No No No No No
Turks and Caicos Islands IBC Nil No No No No No
EUROPEAN OFFSHORE JURISDICTIONS
Jurisdiction/Type of Company Taxation Local directors  required Publicly accessible record of directors Publicly accessible record of members Audit requirements Requirement to file accounts
Cyprus IBC

10%

Advisable Yes Yes Yes Yes
Denmark ApS 0% – 25% Yes Yes Yes No Yes
Denmark A/S 0% – 25% Yes Yes Yes No Yes
Gibraltar Non Resident Nil No Yes Yes Yes, but small company exceptions Yes
Ireland Resident Private Ltd 12.5% No Yes Yes Yes Ye
Isle of Man Resident LLC Fiscally transparent No Yes No No No, but must be available for inspection
Isle of Man Limited Partnership Nil Yes Yes Yes No No, but must be available for inspection
Isle of Man Private Limited  0% – 10% No Yes Yes Yes but small company exceptions Yes
Isle of Man Hybrid 0% – 10% No Yes Yes Yes No
Isle of Man New Manx Vehicle 0% – 10% No Yes Optional No No
Jersey Resident Private Ltd 0% – 10% No No Yes No No
Liechtenstein AG 12,5% No No No No Yes
Luxembourg S.A.R.L. Normal rates Advisable Yes No Yes Yes
Luxembourg 1990 SOPARFI Holding Normal rates Advisable Yes No Yes Yes
Malta Private Limited Liability
Company
5% – 35% No Yes Yes Yes Yes
Netherlands BV 20% for taxable income up to EUR 40,000, 23% on taxable
income above EUR 40,000 and not exceeding EUR 200,000 and 25.5% above
EUR 200,000
No Yes Where single member yes, otherwise no Yes Yes
Scotland – LP Fiscally transparent Not apllicable Not apllicable No No No
Switzerland AG/SA/LTD Yes/ Varies Yes Yes No Yes Yes
Switzerland GmbH/SARL Yes/ Varies Yes Yes Yes Yes Yes
United Kingdom LLP Fiscally transparent Not apllicable Not apllicable Yes Yes but small company exceptions Yes
United Kingdom Private Limited 20% – 26% No Yes Yes Yes but small company exemptions Yes
CENTRAL & SOUTH AMERICA OFFSHORE JURISDICTIONS
Jurisdiction/Type of Company Taxation Local directors  required Publicly accessible record of directors Publicly accessible record of members Audit requirements Requirement to file accounts
Costa Rica Stock Corporation Nil No Yes No No No
Panama Non Resident Nil No Yes Optional No No
ASIAN OFFSHORE JURISDICTIONS
Jurisdiction/Type of Company Taxation Local directors  required Publicly accessible record of directors Publicly accessible record of members Audit requirements Requirement to file accounts
Hong Kong Private Limited Nil on Foreign Profits No Yes Yes Yes Yes
Singapore Private Limited Nil on Foreign Profits Yes Yes Yes Yes but small exemptions Yes but small exemptions
UAE FREE ZONES
Jurisdiction/Type of Company Taxation Local directors  required Publicly accessible record of directors Publicly accessible record of members Audit requirements Requirement to file accounts
RAK Offshore Nil No No No No No
Dubai Offshore (JAFZA) Nil No No No No No
Jebel Ali Free Zone Nil No No No Yes Yes
Dubai Airport Free Zone Nil No No No Yes Yes
Dubai South Free Zone Nil No No No Yes Yes
DMCC Free Zone Nil No No No Yes Yes
DWC Free Zone Nil No No No Yes Yes
Ajman Free Zone Nil No No No No No
Fujairah Free Zone Nil No No No No No
Hamriyah Free Zone Nil No No No No No
RAK Free Zone Nil No No No No No
RAK Free Trade Zone Nil No No No No No
AFRICAN OFFSHORE JURISDICTIONS
Jurisdiction/Type of Company Taxation Local directors  required Publicly accessible record of directors Publicly accessible record of members Audit requirements Requirement to file accounts
Mauritius GBC I 0% – 3% Yes No No Yes Yes
Mauritius GBC II Nil No No No No Yes
Seychelles IBC Nil No No No No No
AUSTRALIA, NEW ZEALAND & OCEANIA OFFSHORE JURISDICTIONS
Jurisdiction/Type of Company Taxation Local directors  required Publicly accessible record of directors Publicly accessible record of members Audit requirements Requirement to file accounts
Australia Proprietary

30%

Yes Yes Yes Yes but small company exemptions Yes if audit required
Australia Public

30%

Yes Yes Yes Yes Yes
Cook Islands IC Nil No No No No No
Marshall Islands IBC Nil No No No No No
New Zealand Ltd 0% – 30% Yes Yes Yes No Yes
Samoa IC Nil No No No No No
Vanuatu Exempt Nil No No No No No
Vanuatu IC Nil No No No No No
USA & CANADA JURISDICTIONS
Jurisdiction/Type of Company Taxation Local directors  required Publicly accessible record of directors Publicly accessible record of members Audit requirements Requirement to file accounts
Canada – Federal Corporation Corporate Income Tax 11%-16,5%. Provincial or territorial
corporate tax rate varies from province to province.
Yes Yes Yes No Yes
Canada – Ontario Corporation Corporate Income Tax 11%-16,5%. Ontario Corporate Income
Tax 11%.
Yes Yes Yes No Yes
Canada – New Brunswick Corporation Corporate Income Tax 11%-16,5%. New Brunswick Corporate
Income Tax 5%-10%.
No Yes Yes No Yes
Delaware LLC* Fiscally transparent No On formation No No No

 

* Delaware LLC structured for partnership tax treatment are not subject to US Federal Income Tax and not required to file a US Income Tax Return if they meet all below criteria’s: 1) Members of LLC’s are non-resident of the US, 2) LLC’s conduct no business in the US, 3) LLC’s have no US-source income

 

Tips on how to effectively choose a suitable offshore jurisdiction

Before choosing an offshore jurisdiction, there are four main factors to take into consideration to ensure the location chosen serves your company’s best interests. These factors are:

Incorporation expenses

A good offshore jurisdiction should charge affordable fees for the actual registration and the maintenance costs incurred in running an offshore company. The aim of any business is to optimize its profits by reducing operation costs. Therefore, before setting up an offshore company it is crucial to ascertain the operating costs as compared to onshore registration.

The Popularity and reputation of an offshore jurisdiction

When choosing an offshore country, it is necessary to examine which other corporations favor the location. An offshore jurisdiction that is preferred by many other credible and renowned companies is most likely suitable and fits a profitable and legal business criterion. Apart from the popular jurisdictions, there are relatively newer countries such as Anguilla that are feasible offshore destinations. 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.

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