How To Choose Your Best Offshore Company Jurisdiction

Incorporating an offshore company is straightforward and easy. However, there may be a bunch of concerns associated with "Which is my best offshore jurisdiction to incorporate a company?".

Each offshore jurisdiction may show different features which are of great influence on your decision making. Normally, there are a set of parameters that you should take into consideration before reaching your best-suited option, key of those factors are as below:

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    Jurisdiction’s reputation

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    Compliance requirements

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    Banking needs

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    Taxation

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    Residency requirements

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    Processing time

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    Business structure

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    Incorporation cost

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    Tax treaty availability

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Tips

Want a quick self-check questions list for better making your decisions? Read this blog

Or, you already have some names in mind but still get confused? Below Offshore Company Comparison Table will enable you to narrow down your choices!

The following tables demonstrate 20 jurisdictions with key elements to take into account when establishing your overseas business

International tradingConsulting businessPersonal tradingHolding company
International tradingConsulting businessPersonal tradingHolding companyInvestment company
International tradingConsulting businessPersonal tradingHolding companyInvestment company
International tradingConsulting businessPersonal tradingHolding companyInvestment companyWealth managementPrivate trust company
International tradingConsulting businessPersonal tradingBrokerage companyHolding companyInvestment companyWealth managementPrivate trust company
International tradingConsulting businessPersonal tradingHolding companyInvestment company
International tradingConsulting businessPersonal tradingHolding companyInvestment companyWealth managementPrivate trust company
International tradingConsulting businessPersonal tradingBrokerage companyHolding companyInvestment company
International tradingConsulting businessPersonal tradingHolding companyIP holding companyInvestment companyFinancial service companyChina/Asian market entryEcommerceMerchant accountTax treatiesStartups
International tradingConsulting businessPersonal tradingHolding companyYacht ownershipInvestment company
International tradingConsulting businessHolding companyInvestment company
International tradingConsulting businessPersonal tradingHolding companyIP holding companyInvestment companyFinancial service companyChina/Asian market entryEU market entryMerchant accountTax treatiesStartups
International tradingConsulting businessPersonal tradingHolding companyInvestment companyEU market entryEcommerceMerchant accountTax treaties
International tradingConsulting businessPersonal tradingHolding companyInvestment company
International tradingConsulting businessPersonal tradingHolding companyInvestment companyWealth managementAsset protection
International tradingConsulting businessPersonal tradingHolding companyInvestment companyWealth management
International tradingConsulting businessPersonal tradingHolding company
International tradingConsulting businessPersonal tradingHolding companyIP holding companyInvestment companyFinancial service companyEcommerceMerchant account
International tradingConsulting businessPersonal tradingHolding companyInvestment companyChina/Asian market entryEcommerceStartups
International tradingConsulting businessFinancial service companyEcommerceTax treaties
Depend

Public register of directors, not shareholders

5%

Corporate income tax:

  • 40% on petroleum operations
  • 1.75% : chargeable income > 3 million Belize dollars
  • 3%: chargeable income < 3 million Belize dollars

Business tax based on gross income:

  • 5% on foreign passive income
  • 1.75% - 6% on all other foreign income
25%

Greater of:

  • 25% on net taxable income; or
  • 1.17% on gross taxable income

Branch remittance tax: 10% in addition to CIT

33%

CIT: 33%

Branch remittance tax: 15%

30%
8.25% - 16.5%

8.25% for the first 2mil HKD

16.5% for above

3%

$80 for the first $10,000

3% on the excess

27%
17%
12.50%
15%
0%

Up to 55% for oil and gas exploration and production company

20% for branches of foreign banks

Except the above cases, No Corporate Tax in RAK.

0%

0% standard rate

10% or 20% to some specific activities

25% - 33%

25% on the first SR1mil taxable income

33% applied to above amount

19%

19%

25% for the year starting from 1 April 2023

20% - 22%

20% for annually income under 20 billion VND

22% for above

8.7%

8.7% for Corporation

N/A
N/A
Depend

Yes if not remitted to Singapore

Greylist
Cleared
Cleared
Blacklist
Cleared
Cleared
Cleared
Cleared
Cleared
Cleared
Blacklist
N/A
N/A
Cleared
N/A
Cleared
Greylist
N/A
Cleared
Cleared
Depend

Yes, but audit exemption is also available

Depend

Yes, but audit exemption is also available

Depend

Yes (applying for companies with foreign owners)

Disclaimer

The information contained in this page is for general information purpose only. You should not substitute the information provided in the page for competent legal advice. In no event will we take responsibility for the adequacy or completeness of any mentioned information. Any reliance on this page which may then cause any loss or damage of any kind shall be solely at your own risk.

Still have not finalized among your short-listed options?Talk to us

FAQs

An offshore company is incorporated in a jurisdiction which is different from the owner’s country of residence. In most cases, offshore companies are not allowed to conduct any economic activities within the offshore jurisdiction of incorporation; otherwise, it must be subject to tax and compliance requirements as applied to local companies. Learn more >>

Setting up an offshore company offers a wide range of benefits, chief of which include:

  • Favorable tax rates
  • Asset protection
  • Privacy
  • Corporate flexibility
  • Minimal maintenance requirements

Needed documents for offshore company formation in each jurisdiction may be varied. However, primary information will include:

  • A certified copy of passport
  • A certified copy of residency proof
  • A detailed description of company’s activities

Processing time for your offshore company depends on each offshore location that you have chosen. Normally, you can get an offshore company opened as short as within 24 hrs to several working days.

No exact answer can be given. It depends on your choice of offshore jurisdiction in which meets your demands. Whether it is the best offshore company jurisdiction should be decided on a careful examination of key elements such as the jurisdiction’s reputation, business structure, incorporation and management cost, ease of incorporation, et cetera.

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