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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
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