International Offshore Corporations

Anguilla is an island located in the Caribbean, approximately 950 miles to the southeast of Miami, Florida. This island is a British Overseas Territory. However, it enjoys a democratic parliamentary representative government with its Chief Minister as the head of the executive branch of the government and a multi-political parties system. The United Kingdom is responsible for the defense and international relations of the island.

What makes Anguilla a popular destination for offshore services is that since 1994, it has incorporated more than 25,000 companies.

• No Taxes
• One Shareholder
• One Director
• Privacy/Confidentiality

• The Anguilla IBCs are an extremely flexible product.
• It involves a minimum report, doesn’t require financial statements registry.
• The meetings are not required to be held on the island, they can be held over the phone or any other electronic mechanism.
• ACORN, Anguilla’s Commercial Online Registration Network, allows authorized foreign agents to incorporate “online,” to speed up the process. These registered agents count with a secure and confidential access to the system.

• Shareholders: Minimum of 1
• Directors: Minimum of 1

The Bahamas are located in the Lucayan Archipelago.With more than 700 islands, islets, and cays in the Atlantic Ocean, they are officially known as the “Commonwealth of the Bahamas.”

The Law of International Business Companies of January 15 of 1990, authorizes the creation of International Business Corporations (IBC) in the Bahamas. The IBC can be used to operate a business outside the Bahamas or to hold and offshore bank account of investment. The strict privacy laws that help keep information about the Bahamas corporations confidential and private is one of the reasons why this jurisdiction is so popular.

• Privacy: The Bahamas’ International Business Companies (IBC) Act of 1990 protects the privacy of its corporations and their shareholders. This Act prohibits information sharing of its corporations between the Bahamas and any other country.
• One Shareholder and One Director.
• No Annual Reports Filing.

• No financial reporting requirements.
• Excellent infrastructure for commercial and financial activities.
• Zero corporate tax.
• Absence of double tax treaties.
• Modern and simple incorporation laws and procedures.
• An English Common Law System.
• Non-disclosure of shareholder information.

• Shareholders: Minimum of 2 people or companies.
• Directors: Minimum of 1.

This island is located in the Lesser Antilles near the Caribbean Sea. Barbados gained its independence from the United Kingdom in 1966. In 2017, Barbados was known as the most developed and wealthiest country in the Eastern Caribbean region.

In 1992, Barbados enacted a law specifically for IBCs called the “International Business Companies Regulations.”This law allows foreigners to form IBCs as companies licensed to conduct business in commerce, trade, or manufacturing within its country for customers living in other countries.

• Low Income Tax.
• 0% tax rate.
• An IBC is exempt from withholding taxes on dividends, interest, and royalties; and exempt from import duties.
• IBC’s can conduct business in any currency.
• No Minimum Capital.

• The process is relatively simple.
• Tax Credit.
• Economic, social and political stability.
• Exemption from taxes and duties on import.
• Benefits of the privacy and confidentiality in Barbados.

Belize is an independent country on the eastern coast of Central America, formerly called British Honduras. The IBCs are regulated by the Law of International Business Companies Act of 1990, based on the successful model of the British Virgin Islands.

Belize retains complete control over its offshore jurisdiction, thus it has some of the most flexible corporate requirements and supportive legal framework in the world, making it one of the most secure offshore destinations. The low start-up costs, complete confidentiality and multiple layers of anonymity in a stable and low risk environment, make Belize a good choice for offshore business formation.

• Cost Effective.
• Shareholding Confidentiality.
• Exemption from Local Taxes.
• Exemption from local exchange control regulations.
• No registration requirements for transfer of shares.
• Formation with share capital in any foreign currency.
• Confidentiality.

• No Taxes.
• IBC can immigrate to other jurisdictions or vice versa, depending on the needs of the company.
• Privacy.
• Asset Protection.
• Quick and Simple Incorporation.
• One Shareholder.
• One Director.
• English.

• Shareholders: Minimum of 1
• Directors: Minimum of 1, can be of any nationality and doesn’t have to be a resident in Belize

Since 1672, the British Virgin Islands have been a British territory. They are located near Puerto Rico in the Caribbean.

The British Virgin Islands International Business Companies Ordinance of 1984 created International Business Companies (IBC) where over 600,000 were incorporated. ln 2004, the International Business Companies Act fused together ‘offshore’ and ‘onshore’ financial activities, opening up local business opportunities to offshore International Business Companies.

• Total Foreign Ownership.
• No Taxation.
• Only contributions made to the share capital are exposed to the LLC’s creditors.
• One Shareholder/One Director.
• Confidential and Private.
• The U.S. Dollar is the official currency in the BVI.
• English as the official language.

• No taxes on income, capital gains, nor are there gift taxes, inheritance taxes, sales taxes, or value added taxes.
• Companies can transfer funds freely
• Transactions can be done in any currency.
• The sole Director can also be the sole shareholder.
• Confidentiality

• Shareholders: Minimum of 1
• Directors: The first registered agent must name a director in the first six months after the incorporation date of the company.

Formed by three islands, The Cayman Islands is located on the Caribbean Sea near Cuba. Its three islands: Grand Cayman, Little Cayman, and Cayman Brac. The Cayman Islands Company Law dates back to 1961 and is based off the 1921 UK Company Act.

• English speaking country
• Have historically always been a completely tax free jurisdiction
• Based off of English Common Law
• Stable political and economic environment
• Safe and secure territory
• Renowned financial centre and offshore jurisdiction
• The world’s most popular offshore banking and hedge fund location
• World class banking, financial and professional resources
• Fourth safest tax haven in the world according to Financial Secrecy index
• Second most significant tax haven in the world after Switzerland
• Home to some of the world’s leading accounting and offshore law firms
• No financial reporting requirements
• Fourth most important financial centre in the world
• Documents, records and personal information are not open to the public
• Availability of corporate bank accounts

• An offshore IBC in Cayman Island may be incorporated with only one person.
• A Cayman Island offshore IBC needs only one director and one shareholder, there is no limit as to the number of directors the company can have.
• Directors of offshore companies in the Cayman can be of any nationality.
• Cayman Islands International Business Companies legislation is very flexible and states that offshore IBCs registered in the jurisdiction have no need to present annual reports to the government for inspections.

Delaware is considered as a jurisdiction to set up an offshore company because of its flexible commercial regulations, scarce bureaucracy and high level of privacy. Also known as “The Gateway to the United States” most of the companies registered in Delaware are for non-resident foreigners.

Delaware is also known for being the state where most of the Wall Street companies have installed their headquarters. The most recommended form of registration of an offshore company in Delaware for non-residents is the Limited Liability Company (LLC). LLC is a legal entity totally separate and distinct from its shareholders called “Members”. The company’s operational responsibility is independent and will not affect the rest of the members of the company.

• 0% corporate tax rate on benefits in the state of Delaware
• An offshore company in Delaware can have bank accounts opened in its name in any country in the world.
• Commercial registry doesn’t disclose any information regarding directors or shareholders to third parties.
• In Delaware Offshore companies can be set up very quickly, from 3 to 5 days.
• Offshore companies in Delaware gain an international prestige being registered in the best financial center in the world.
• There are neither restrictions nor discrimination on the nationality of the final beneficiary of a company in Delaware.
• Delaware applies Protection Laws to the directors of the LLC companies
• The United States is the country with the largest registry of technology companies in the world due to its good infrastructure in telecommunications and little bureaucracy.

Hong Kong is situated on the South Eastern tip of mainland China. The official languages are Chinese and English. On July 1st of 1997, Hong Kong reverted the British Control to China and became a Special Administrative Region among the Popular Republic of China.

Hong Kong enjoys autonomy in the negotiation of its own economic relations with other countries, while China is responsible for its defense. A Hong Kong IBC is regulated and incorporated under the laws of the Companies Ordinance of Hong Kong which was modified in 2005 to help the jurisdiction stay abreast in the offshore world. Hong Kong offshore IBCs can be registered as Limited Companies, Sole Proprietorships or limited partnerships.

• No Taxes
• Fast Registration, five days approximately
• Minimum of one director, can be a natural or corporate person.
• Only a minimum of one shareholder is required.
• Privacy: Nominee shareholders are available for privacy.
• A Hong Kong company has easier access to mainland China business than any other Asian company.

• Capital can be in any currency or multiple different currencies
• There is no minimum authorized capital required.
• Hong Kong is not blacklisted anywhere.
• Good banking secrecy.
• English is the main business and banking language.

• Secretary: Minimum of 1.
• Directors: Minimum of 1, can be any nationality, can be a natural or corporate person.

Nevis is part of the island called “The Federation of Saint Kitts and Nevis” on the Caribbean Sea.

Through the enactment of the Nevis Business Corporation Ordinance Act 1984, Nevis has become one of the most convenient offshore company locations in the world. The accommodating and open offshore environment has made Nevis IBCs an exceptional product due to simple offshore regulations and ease of formation procedures.

• Total Privacy.
• No Taxes.
• The minimum number of shareholders is one to form an IBC.
• The IBC can be managed by only one director for a one shareholder company.
• English: Since being a former UK colony, English is its official language.

• Remote Access.
• Flexibility of Ownership and Management Structure.
• Tax Incentives.
• Annual reports are not required.
• Re-domiciliation of other foreign companies into and out of Nevis.
• There are no limitations on corporate ownership (such as minimum amount of owners, or nationality, or minimum capital or substance requirement).

• Directors: Minimum of 1
• Dignitary/Manager: Minimum of 1, named by the director

Seychelles consists of 115 islands and is located 930 miles (1,500 kilometers) east of mainland East Africa. It has an estimated population of 91,000. Since the passing of the International Business Companies Act in 1994, Seychelles has been offering offshore formation.

• No Taxes.
• A Seychelles IBC incorporation process is quick and efficient, and could only take one day.
• Only one director and one shareholder are required to start a Seychelles IBC.
• Seychelles IBC corporations receive a good deal of privacy and confidentiality.
• Seychelles IBC’s have a low annual fee, costing only about US $107.50.

• Zero or absolute minimum taxation on profits and capital gains.
• No need for annual general meetings, in case of one the meeting can be held anywhere, and also by electronic means, the corporate decision making process is extremely flexible.
• Confidentiality.
• Corporate flexibility: no paid-up capital, no requirement to declare operational objects, minimum requirements on directors and shareholders, speedy incorporation, and so on.
• Minimum reporting – no audit, no tax reporting, no financial information on public file.

• Directors: Minimum of 1, can be a natural or legal person.
• Shareholder: Minimum of 1, can be of any nationality. Can be a physical person or a corporate entity.