Jurisdictions to consider when planning to incorporate an Offshore Company

Besides some of the popular jurisdictions we discussed in detail in our earlier articles, there are also many other offshore jurisdictions which offer good attractions to the companies wishing incorporate an offshore company. Many countries offer various benefits to investors with different needs.

A small list of jurisdictions which allow offshore companies along with their brief description is presented here:

Nevis: This small Caribbean island offers one of the most comprehensive asset protection lows in the world. Besides that no tax is applicable on return in business outside the island and the requirements for incorporation and reporting are very relaxed as well.

Panama: Panama is the location of choice for investors who wish to go for secrecy. Panama has one of the strictest rules regarding secrecy of the owners in the world. These rules are in the Constitution of the country and since Panama is a sovereign country and not bounded by any international law or tax treaties, it will probably remain this way for some time. There is no tax on international income and the cost of maintenance of the company and incorporation are very low.

Bahamas: Bahamas is another exotic island which provides complete secrecy to your identity as the owner of a large offshore company which provides exemption from taxes to offshore companies for 20 years since there incorporation.

Dominica: Another Caribbean country offers total exemption from all taxes and freedom from exchange control Act. Furthermore, it has developed a comprehensive offshore company incorporation system which allows complete privacy of the owners from public. Furthermore, it is an offence to disclose information regarding the owners punishable by up to two years in jail.

Singapore: Singapore still offers great incentives to non resident companies in terms of tax and privacy and also provides access to the Chinese market for investment in trading and investment activities. The companies are not considered offshore however tax is exempt from international income

Switzerland: Switzerland has the reputation of stringent banking privacy laws and even though numbered accounts are rarely offered now, the banking laws still make sense for offshore companies to open an account in Zurich

Samoa: Samoa is a small island in the Pacific which has been popular for its laws and regulations which are friendly for incorporation of the offshore companies.

A non exhaustive list of offshore companies given below:

Andorra, Anguilla, Antigua, Aruba, Bahamas, Bahrain, Barbados, Belize, , Bermuda ,British Virgin Islands, Cayman Islands, Cook Islands, Costa Rica, Cyprus, Djibouti, Dominica, Ghana[2][3], Gibraltar, Grenada, Guernsey, Hong Kong, Isle of Man, Israel, Japan, Jersey, Labuan Malaysia, Lebanon, Liechtenstein, London, Luxembourg, Macau, Malta, Marianas, Marshall Islands, Mauritius, Micronesia, Montserrat, Nauru, Netherlands Antilles, New Zealand, Niue, Palau, Panama, Philippines, Puerto Rico, Samoa, Seychelles, Singapore, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, Switzerland, Tahiti, Tangier, Thailand, Turks and Caicos, United States, Uruguay, Vanuatu

Even though there are some countries that stand out as ideal for incorporation of most offshore companies, there is no one best country. It is important to understand the rules of the country and there overall attitude towards development of the offshore business. An analysis of you own needs must also be conducted to match the ideal country for incorporation of your offshore company.

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This article is brought to you by the DeltaQuest Group. For a comprehensive guide of the main Offshore Jurisdictions with details regarding company formation for each, please visit My Offshore Companies.