Most Popular Offshore Jurisdictions to open a Company

Shelley HumphreysShelley Humphreys31/12/20195min
Choosing an offshore jurisdiction can be a complicated process because there are many parameters that need to be considered. Each jurisdiction has its own advantages and disadvantages.

Countries or nations that are known as tax havens offer low or no taxes on company profit, very light banking and company formation procedures and finally offer easy performance and managing international operations.

Considering the above is important when business individuals are looking for a specifically tailored solution or ideal jurisdiction that suits their needs. Consider below the most popular jurisdictions.

Belize

When looking for efficient corporate, LLC and trust code that can adapt to most situations, then Belize may be the best option. This nation is a tax haven where corporate income tax does not apply and companies are exempt from the capital gains tax, stamp duty and withholding taxes on dividends.

High Net Worth Individuals (HNWI) and entrepreneurs are welcome here and the benefits are high. They cannot hold property or trade in Belize, on the contrary, they must perform international trading activities and offshore banking. Belize IBCs (International Business Companies) are also used for asset protection.

Seychelles

Another popular offshore jurisdiction is the Seychelles IBC. A flexible tax-free company ideal for a large number of uses. These IBCs are used as a Holding Company in real estate and equities or consultancy and a personal service company.

When it comes to confidentiality and privacy, Seychelles IBCs are second to none and the reason being is because the details of these IBCs beneficial owners or directors are not part of the public record. All data is kept at the offices of the Registered Agent in complete confidentiality.

Cayman Islands

The Cayman Islands were the original offshore jurisdiction. Today the Cayman Islands among other jurisdictions, offer a well-regulated, tax-neutral and offshore environment and is very popular for large fund formations and investments. Cayman is the largest centre for hedge funds in the world.

It’s also popular with high profile individuals seeking entry to the most compliant banks and is also the top choice for large offshore structures.

Furthermore, the Cayman Islands is in fact the largest offshore banking centre with about 200 licensed banks.

Cyprus

Cyprus is a European Union country with easy to establish and low-cost maintenance companies. The entrepreneurial environment and supporting facilities are favourably compared with the best-established centres internationally. This island is considered to be a prime offshore and international business centre among 50 countries offering facilities for these purposes.

Cyprus has one of the lowest tax rates among the European Union nations, making it one of the leading financial centres and highly reputable as a member of the EU.

It’s not only a great place to live but offers an extensive double tax treaty network, transparent regulatory environment and excellent professional services.

Singapore

Singapore has been established as an international thriving financial centre, benefiting its domestic economy and the wider Asia Pacific region. The location continues to attract westerners as they recognise it as a beneficial tax haven. It’s a good choice for offshore company formation if you’re looking to dispose of assets because there is no capital gains tax. Interest and royalties paid to non-residents are, however, subject to a 10% or 15% withholding tax.

However, the cost of running and maintaining a company in Singapore is notably higher when compared to other offshore jurisdictions.

In Conclusion

There are many options and suitable jurisdiction to incorporate your company but considering the aforementioned factors is key to selecting the best possible choice for you and your company. Each offshore jurisdiction is unique in its own way and should be treated as such.

They each offer tax advantages and offer different investment opportunities so it’s advised that you do your own due diligence and seek further assistance from the local professionals when incorporating a company in any of the above jurisdictions.

Shelley Humphreys

Shelley Humphreys

Shelley started her education in Legal Studies followed by employment in a UK energy Firm. In recent years attention has been turned to content writing specifically on the subjects of investment and real estate. Alongside this she has also worked with UK based Travel Agency, this diverse background makes her well equipped to write on a range of subjects. Contact Shelley at +357-22029786 ext: 6126 or by email at shelley@highworthcitizen.com for editorial related questions.



About us

High Worth Citizen is all about delivering the latest business news on finance, investment, real estate and wealth. Our readers are the rich and powerful, their associates and business partners, the global High Net Worth Individuals.


CONTACT US