OCRA World Wide Jurisdiction Comparison Chart OffshoreSimple.com Type of company Common or Civil Law Jurisdiction Shelf Company Availability Our time to Incorporate Minimum annual licence, duty or franchise fee annual return filing fee Taxation on foreign profits.
OCRA World Wide Jurisdiction Comparison Chart OffshoreSimple.com Type of company Common or Civil Law Jurisdiction Shelf Company Availability Our time to Incorporate Minimum annual licence, duty or franchise fee annual return filing fee Taxation on foreign profits.
OCRA World Wide Jurisdiction Comparison Chart OffshoreSimple.com Type of company Common or Civil Law Jurisdiction Shelf Company Availability Our time to Incorporate Minimum annual licence, duty or franchise fee annual return filing fee Taxation on foreign profits.
Common or Civil Law Jurisdiction Shelf Company Availability Our time to Incorporate Minimum annual licence, duty or franchise fee Annual return filing fee Taxation on foreign profits Anguilla IBC Common Yes 1 day US$ 230 Not applicable Nil Bahamas IBC Common Yes 10 days US$ 350 Not applicable Nil Belize IBC Common Yes 2 days US$ 100 Not applicable Nil Bermuda Exempt Common No 15 days US$ 1,695 Not applicable Nil British Virgin Islands IBC Common Yes 2 days US$ 300 Not applicable Nil Cayman Islands Exempt Common Yes 2 days US$ 575 Not applicable Nil Cook Islands International Common Yes 3 days US$ 500 Nil Nil Costa Rica SA Civil Yes 2- 3 weeks US $ 40 US$ 50 Nil Cyprus IBC Common Yes 5 days Not applicable CYP 7 4.25% Denmark Private Limited Civil Yes 3-4 weeks Nil Nil Yes Gibraltar Exempt Common Yes 5 days 225 30 No Gibraltar Non resident Common Yes 5 days Nil 30 No Hong Kong Private limited Common Yes 10 days US$ 600 US$ 200 Nil on Foreign Profits Hungary Offshore KFT Civil No 15 days HUF 1,500 Not applicable 3 % Hungary Offshore RT Civil No 15 days HUF 1,500 Not applicable 3 % Iceland ITC Civil No 15 days ISK 100,000 Not applicable 5% Ireland Private limited Common Yes 10 days Not applicable IR 150 Varies Isle of Man Exempt Common Yes 1 day 430 50 Nil Isle of Man International LLC Common Yes 1 day 430 50 Fiscally transparent Isle of Man Resident Common Yes 1 day Not applicable 50 12-18% Israel Non Resident Hybrid Yes 3 days US$ 200 Nil No Jersey Exempt Common No 6 weeks 600 130 Nil Labuan Offshore - Trading Common No 15 days RM 2,600 RM 100 3% or RM 20k Labuan Offshore - Non Trading Common No 15 days RM 2,600 RM 100 Nil Liberia Non resident Common Yes 2 days US$ 150 Not applicable Nil Liechtenstein AG Civil No 15 days CHF 1,000 Not applicable 4% coupon tax on dividends and an annual capital tax of 0.1% Liechtenstein Anstalt Civil No 15 days CHF 1,000 Not applicable Annual capital tax of 0.1% Luxembourg 1929 Holding Civil No 2 days 0.2% of capital Nil Nil Luxembourg 1990 SOPARFI Holding Civil No 2 days Not applicable Nil Normal rates Madeira Limitada Civil Yes 60 days US$ 1,000 Not applicable Varies Madeira SA Civil Yes 60 days US$ 1,000 Not applicable Varies Malta ITC/IHC Civil No 5 days Not applicable From Lm 50 Credits/Refunds Marshall Islands Non resident Common Yes 2 days US$ 450 Not applicable Nil Mauritius International Hybrid Yes 1 day US$ 100 Not applicable Nil Mauritius Offshore Hybrid No 15 days US$ 1,500 Not applicable 0 -15% (Normally 3%) Netherlands BV Civil No 6-8 weeks NLG333 Not applicable 35% Netherlands Antilles BV Civil No 15 days US$ 34 Not applicable Approx. 30% Nevis NBCO Common Yes 2 days US$ 220 Not applicable Nil Niue IBC Common Yes 2 days US$ 150 Not applicable Nil Panama Non resident Civil Yes 2 days US$ 350 Not applicable Nil Saint Vincent IBC Common Yes 1 day US$ 100 Not applicable Nil Samoa International Common Yes 3 days US$ 300 Not applicable Nil Seychelles IBC Hybrid Yes 2 hours US$ 100 Not applicable Nil Singapore Resident/Non Resident Common Yes 15 Days Not applicable S$ 50 Varies Switzerland AG Civil No 8 - 10 days Varies Not applicable Varies Switzerland GmbH Civil No 8 - 10 days Varies Not applicable Varies Turks & Caicos Exempt Common Yes 2 days US$ 300 Not applicable Nil United Kingdom Resident Common Yes 1-8 days Not applicable 15 20% to 30% United Kingdom LLP Common Yes 1-8 days Not applicable 50 Fiscally transparent Uruguay SAFI Civil No 30 days 0.3% of capital Not applicable Nil USA LLC Common Yes 2 days Varies Varies Fiscally transparent USA C Corporation Common Yes 2 days Varies Varies Yes Vanuatu International Hybrid Yes 3 days US$ 300 Not applicable Nil E-mail corrections to oldfield@ocra.com OCRA Ltd. (Isle of Man) Page 1 OCRA World Wide Jurisdiction Comparison Chart OffshoreSimple.com Anguilla Bahamas Belize Bermuda British Virgin Islands Cayman Islands Cook Islands Costa Rica Cyprus Denmark Gibraltar Gibraltar Hong Kong Hungary Hungary Iceland Ireland Isle of Man Isle of Man Isle of Man Israel Jersey Labuan Labuan Liberia Liechtenstein Liechtenstein Luxembourg Luxembourg Madeira Madeira Malta Marshall Islands Mauritius Mauritius Netherlands Netherlands Antilles Nevis Niue Panama Saint Vincent Samoa Seychelles Singapore Switzerland Switzerland Turks & Caicos United Kingdom United Kingdom Uruguay USA USA Vanuatu Disclosure of beneficial ownership Bearer shares permitted. Not recommended! Standard minimum paid up capital Standard authorised share capital Permitted currencies of capital Minimum number of members Minimum number of directors / managers No Yes US$ 1 US$ 50k Any 1 1 No No US$ 1 US$ 50,000 Any 1 2 No Yes, must be held by approved custodian. US$ 1 US$ 50k Any 1 1 Yes No US$ 1 US$ 12k Bermuda $ 1 2 No Yes. Must be maintained in BVI. US$ 1 US$ 50k Any 1 1 No Yes, must be held by approved Cayman custodian. US$ 1 US$ 50k Any 1 1 No Yes US$ 1 Not applicable Any 1 1 No No Colones 10,000 Colones 10,000 Any 1 4 Yes, but confidential No CYP 1,000 CYP 5,000 Cyprus Pound 1 1 No No DKK 125,000 DKK 125,000 DKK or Euro 1 1 Yes No 100 2,000 Any 1 1 No Yes 1 2,000 Any 1 1 No No HK$ 2 HK$ 1,000 Any 2 2 No No US$ 7,500 US$ 15,000 Forint 1 1 No Yes US$ 50k US$ 100k Forint 1 1 Disclosure of founders at No ISK 500,000 ISK 500,000 Any 1 1 No No IR 2 IR 1M Any Normally 2 2 No No (bearer warrants are permitted) 1 2,000 Any 1 2 No Not applicable Not applicable Not applicable Any 2 Normally 1 manager No No (bearer warrants are permitted) 1 2,000 Any 1 2 No Yes US$ 2 US$ 10,000 Any 1 1 Yes No 2 10k Any 2 Normally 2 No No US$ 1 US$ 10k Any except RM 1 1 No No US$ 1 US$ 10k Any except RM 1 1 No Yes US$ 1 US$ 50k Any 1 1 No Yes CHF 50k CHF 50k Swiss Franc 1 1 No No CHF 30k CHF 30k Swiss Franc 1 1 No Yes FLUX 1.25M FLUX 1.25M Any 2 3 No Yes FLUX 1.25M FLUX 1.25M Any 2 3 No No 5,000 5,000 Escudo Normally 2 (1 is possible) 2 No Yes 50,000 50,000 Escudo Normally 5 (1 is possible) 3 No No Lm 500, 20% paid up Lm 500 Any ITC - 1, IHC - 2 1 No Yes US$ 1 US$ 50k Any 1 1 No No US$ 1 US$ 100k Any 1 1 Yes No US$ 2 US$ 100k Any Normally 2 2 No No NLG 40,000 NLG 200,000 Any 1 1 No Yes US$ 6,000 US$ 30k Any 1 1 No Yes US$ 1 US$ 100k Any 1 1 but see Guidebook No Yes US$ 1 US$ 50k Any 1 1 No Yes US$ 1 US$ 10k Any 1 3 No Yes US$ 1 US$ 100k Any 1 1 No Yes US$ 1 US$ 1M Any 1 1 No Yes US$ 1 US$ 5000 Any 1 1 Yes No S$ 2 S$ 100k Any 2 subscribers, one thereafter 2 No Yes Normally CHF 100k Not applicable CHF 3 1 Yes No Normally CHF 20k Not applicable CHF 2 1 No Yes US$ 1 US$ 5,000 Any 1 1 No No 1 1,000 Any 1 1 No No 2 Not applicable Any 2 2 No Yes US$ 2,500 US$ 50k Any 1 1 No Not applicable US$ 2 Not applicable Any Normally 2 Normally 1 No No US$ 1 Varies Any 1 1 No Yes One unit of currency of capital None Any 1 1 E-mail corrections to oldfield@ocra.com OCRA Ltd. (Isle of Man) Page 2 OCRA World Wide Jurisdiction Comparison Chart OffshoreSimple.com Anguilla Bahamas Belize Bermuda British Virgin Islands Cayman Islands Cook Islands Costa Rica Cyprus Denmark Gibraltar Gibraltar Hong Kong Hungary Hungary Iceland Ireland Isle of Man Isle of Man Isle of Man Israel Jersey Labuan Labuan Liberia Liechtenstein Liechtenstein Luxembourg Luxembourg Madeira Madeira Malta Marshall Islands Mauritius Mauritius Netherlands Netherlands Antilles Nevis Niue Panama Saint Vincent Samoa Seychelles Singapore Switzerland Switzerland Turks & Caicos United Kingdom United Kingdom Uruguay USA USA Vanuatu Corporate directors / managers permitted Local directors / managers required Company secretary required Company seal required Public record of directors / managers Public record of members Location of directors / managers meetings Yes No No Yes No No Anywhere Yes No No Yes Yes No Anywhere Yes No No Yes No No Anywhere No No Yes- local Optional No Yes Anywhere Yes No No Yes No Optional Anywhere Yes No No No No No Anywhere Yes No Yes Optional No No Anywhere Yes No No No Yes No Anywhere Yes No Yes Yes Yes Yes Anywhere No No No No Yes No Anywhere Yes No Yes Optional Yes Yes Anywhere Yes No Yes Optional Yes Yes Anywhere Yes No Yes - local Yes Yes Yes Anywhere No Yes - majority No No Yes Yes Anywhere No Yes - majority No No Yes Yes Anywhere No No No No Yes No Anywhere No No Yes Yes Yes Yes Anywhere No Yes - one Yes - local Optional Yes Yes Anywhere Corporate Managers Not applicable Not applicable No Yes Yes Anywhere No No Yes - local Optional Yes Yes Anywhere Yes No No Yes Yes Yes Anywhere No No Yes Yes No No Anywhere Yes No Yes - local Yes No No Anywhere Yes No Yes - local Yes No No Anywhere Yes No Yes Optional Optional No Anywhere Yes Yes - one No Optional Yes Yes Anywhere Yes Yes - one No Optional Yes Yes Anywhere Yes No No Optional Yes No Anywhere Yes No No Optional Yes No Anywhere No No No Yes Yes Yes Anywhere Yes No No Yes Yes Yes Anywhere Yes No Yes - local No Yes Yes Anywhere Yes No Yes Optional Optional No Anywhere Yes No No No Optional Optional Anywhere No No Yes - local Yes No No Mauritius Yes No No No Yes No Anywhere Yes Yes - one No No No Yes Anywhere Yes No Yes Optional No No Anywhere Yes No No Optional No Optional Anywhere Yes No Yes Optional Yes Optional Anywhere Yes No No No No No Anywhere Yes No No Yes No No Anywhere Yes No No Optional No No Anywhere No Yes Yes Yes Yes Yes Anywhere No Yes - majority No No Yes No Switzerland (by proxy) No Yes - majority No No Yes Yes Anywhere Yes No Yes Optional No No Anywhere Yes No Yes Optional Yes Yes Anywhere Yes No Not applicable Optional Yes Yes Anywhere No No No Optional Yes No Anywhere Yes No Not applicable Optional Not applicable No Anywhere No No Not applicable Optional No No Anywhere Yes No No Optional No No Anywhere E-mail corrections to oldfield@ocra.com OCRA Ltd. (Isle of Man) Page 3 OCRA World Wide Jurisdiction Comparison Chart OffshoreSimple.com Anguilla Bahamas Belize Bermuda British Virgin Islands Cayman Islands Cook Islands Costa Rica Cyprus Denmark Gibraltar Gibraltar Hong Kong Hungary Hungary Iceland Ireland Isle of Man Isle of Man Isle of Man Israel Jersey Labuan Labuan Liberia Liechtenstein Liechtenstein Luxembourg Luxembourg Madeira Madeira Malta Marshall Islands Mauritius Mauritius Netherlands Netherlands Antilles Nevis Niue Panama Saint Vincent Samoa Seychelles Singapore Switzerland Switzerland Turks & Caicos United Kingdom United Kingdom Uruguay USA USA Vanuatu Location of members meetings Telephone board / managers meetings permitted Double taxation treaty access Requirement to file accounts Requirement to file annual return Change in domicile permitted Time Zone GMT +/- Anywhere Yes No No No Yes -5 Anywhere Yes No No No Yes -5 Anywhere Yes No No No Yes -6 Anywhere Yes No No No No -4 Anywhere Yes No No No Yes -4 Anywhere No No No Yes Yes -5 Anywhere Yes No No (by resolution) Yes Yes -10 Anywhere No No No No Yes -6 Anywhere No Yes Yes Yes No +2 Anywhere Yes Yes Yes No No +1 Anywhere Yes No No Yes Yes +1 Anywhere Yes No No Yes Yes +1 Anywhere Yes No Yes Yes No +8 Anywhere Yes Yes Yes No No +1 Anywhere Yes Yes Yes No No +1 Anywhere Yes Yes Yes Yes No GMT Anywhere Yes Yes Yes Yes No GMT Anywhere Yes No No, but accounts needed Yes No GMT Anywhere Not applicable No No, but accounts needed Yes No GMT Anywhere Yes No No Yes No GMT Anywhere Yes Yes No Yes No +2 Anywhere Yes No No Yes No GMT Anywhere Yes Yes Depends on tax regime elected Yes Yes +8 Anywhere Yes Yes No Yes Yes +8 Anywhere Yes No No No No GMT Anywhere Yes No Yes Yes No +1 Anywhere Yes No Only Commercial Anstalt Yes No +1 Anywhere Yes Varies Yes Yes Yes +1 Anywhere Yes Yes Yes Yes Yes +1 Madeira (by proxy) Yes Yes Yes Yes Yes GMT Madeira (by proxy) Yes Yes Yes Yes Yes GMT Anywhere Yes Yes Yes Yes No +1 Anywhere Yes No No No Yes +12 Anywhere Yes No No No Yes +4 Mauritius Yes Yes Yes No No +4 Netherlands Yes Yes Yes No No +1 Netherlands Antilles (by proxy) Yes Yes Yes Yes Yes -4 Anywhere Yes No No No Yes -4 Anywhere Yes No No No Yes -11 Anywhere Yes No No Optional Yes -5 Anywhere Yes No No No Yes -5 Anywhere Yes No No No Yes -11 Anywhere Yes No No No Yes +4 Anywhere Yes Yes Yes Yes No +8 Switzerland (by proxy) Yes Varies Yes No No +1 Anywhere Yes Varies Yes No No +1 Anywhere Yes No No Yes Yes -5 Anywhere Yes Yes Yes Yes No GMT Anywhere Yes Fiscally Transparent Yes Yes No 1 AGM p.a. in Uruguay (by proxy) Yes No Yes Yes No -3 Anywhere Yes Normally No No Yes Within USA only Varies Anywhere Yes Yes Yes Yes Within USA only Varies Anywhere Yes No No No Yes +11 E-mail corrections to oldfield@ocra.com OCRA Ltd. (Isle of Man) Page 4
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