Bulgaria is considered to have a favourable tax regime as it has one of the lowest Corporate income tax rates in the European Union.Description Bulgaria is favorable to companies not only of the favorable tax regime, but also of low costs of doing business and great access to different markets. Due to its locations Bulgaria provides a direct access to European Union, Turkey, CIS, Midd...
Path: Accounting... it is self-governing and not bound by the laws of the UK. The Island is famous as a low tax economy with zero capital gains tax, wealth tax, stamp duty, or inheritance tax. Also, the island is extremely favorable for business as it has 0% Corporate income tax. It is considered as a banking and financial services hub with tourism also making a significant contribution to the economy.Incorporation ...
Path: Licensing...al Bank of Vanuatu. These facilities are considered very stable and reliable among offshore business founders. Next argument to form an offshore company in Vanuatu is tax regulations. It is important to mention that there is no capital gain tax, income tax and withholding tax. International companies are exempt from taxes already over two decades. This applies on international operations only ...
Path: Blog...ary the restrictions that an International Business Company cannot carry on business with Belize residence shall be removed; * the Belize IBC will have the right to purchase and own land within the country; * Belizean companies will be subject to income tax if income will be sourced from Belize; * local companies will face new filling requirements; * physical presence will be a mandatory re...
Path: BlogBulgaria is considered to have a favourable tax regime as it has one of the lowest Corporate income tax rates in the European Union.Description Bulgaria is favorable to companies not only because of the convenient tax regime, but also of low costs of doing business and great access to different markets. The Bulgarian Accountancy Act requires that financial statements of th...
Path: Accounting...antly improved their economics after becoming place for foreign investors. There are special regulations in domestic countries as well. These are made for maintaining balance between taxation for offshore business and native companies. International income tax and individual taxes are balanced specially for this reason. Another point to consider when moving a business offshore, is safety and co...
Path: BlogThe Cayman Islands are well known as a tax haven because it has no income taxes and has an easy process for offshore incorporation.Incorporation: approx. 5-6 working days Minimum capital requirements: US$ 1 Overview The Cayman Islands offer their corporations many benefits including political & economic stability, fast incorporation, low registration fees, and...
Path: Companies... crypto assets in India,” said Jay Hao, the CEO of OKX.com. Furthermore, new crypto taxation legislation explicitly rules out the exemption of crypto gains under any deductible sections, which will force those involved in crypto trading to file income tax returns even if they make as little as a cent from crypto profits: the usual minimum income tax to file a return is INR 250,000 (around $3,...
Path: BlogThe President of Belarus, Alexander Lukashenko, **signed the Decree “On Taxation”** which exempts forex trading from taxes.The decree exempts individuals from paying income tax received from transactions with non-deliverable OTC financial instruments. The tax exemption was initially proposed in March of 2016, however, since then it was only a temporary measure and had to be extended every...
Path: Blog...r fiat or are used for goods and services purchasing, exchanging crypto for crypto, or gifting cryptoassets. This is a common approach used in many countries around the globe. Further, according to the policy paper, mining activity is subject to income tax. The authority classifies this kind of activity as a business activity considering such factors as the degree of activity, commerciality, o...
Path: BlogNew Zealand has recently adopted changes that allow to pay salaries in crypto. The aforesaid changes were implemented by New Zealand’s tax authority under the income tax Act with regard to section RD 3. The Inland Revenue Department (IRD) states that released rules applies to salaries and wages paid up in cryptocurrencies such as Bitcoin, Ethereum or other. An employee can receive salary in...
Path: Blog...values," says Andrew Mitchell, the British Conservative Party representative. He also mentioned that without public registers it is impossible to identify cases of ‘clever’ money laundering crimes. **There are no taxes on profit, no personal income taxes, as well as VAT and sales taxes in the British Virgin Islands.**The companies registered there don’t pay taxes. It is estimated the com...
Path: Blog...stock and distribution agreements, international sale agreements, international software license and software maintenance agreements, non-profit law and non-profit legal structures, public benefits organizations and issues of donor deductibility and income tax exemption, director roles and responsibilities, certain aspects of competition law etc., project finance agreements, security agreements, c...
Path: AdditionalThe CIT (Corporate income tax) in Poland is a tax collected from legal entities and the PIT (Personal income tax) is collected from physical persons. The amount of CIT is based on the net income companies obtain exercising their business activity, and the PIT must be paid by every individual who obtains income, e.g. receives remuneration (under employment contracts or civil law agreements) often ...
Path: Blog... offshore country is required to achieve effective business planning. 2. Optimizing taxation is the next important goal of an offshore consultant. Specialist need to consider the possibility of Foreign Earned Income Exclusion while paying foreign income tax; Best time to transfer the profit to your parent company; Which tax privileges for your business are available and many other solutions. Ev...
Path: Blog...e first stage, it is crucial to lower your expenses on business registration process. • Taxation matters You can never avoid taxes at all but in different company structures tax obligations differ too. In sole proprietorship or partnerships, income tax is displayed in personal declarations and reports. This works also for LLC, where every partner show their income in personal documents and...
Path: Blog...er to comment on this matter and explain more details on the **offshore investment**. The Duchy stated that all these overseas investments are completely legal. Moreover, even though the Queen is exempt of taxation, the Royal family voluntarily pays income tax from the Cayman Islands and Bermuda estates. However, there is one part of the investment that went to an unreliable fund. The money ret...
Path: Blog...ght be classified. It says: *“There may be cases where the individual is running a business which is carrying on a financial trade in crypto assets and will therefore have taxable trading profits. This is likely to be unusual, but in such cases income tax would take priority over the Capital Gains Tax rules. HMRC will publish separate information for businesses in due course.”* The coin-...
Path: Blog*Most of today's employees or businesses are looking forward to work internationally. When a person receives an international payment a question on how to pay income taxes will arise.* Earnings shall be displayed in the US tax return, and we would like to draw your attention to some points of income reporting. We will focus on two most common situations: when you earn money abroad while being...
Path: Blog...as business opportunities. Apple’s representative expressed the official position of the company. They indicate that moving subsidiaries did not affect their tax burden in any way and Apple remains one of the world’s largest taxpayers. Corporate income tax, property tax, payroll tax, sales tax and other types of fees – all these payments are still processed by the company and they support ev...
Path: Blog...struments lodged and cleared by the Central Moneymarkets Unit of the Hong Kong Monetary Authority are eligible. The new Budget states that the list will be extended with the debt securities listed on the Hong Kong Stock Exchange. • The personal income tax will also be subjected to the upcoming change. Personal income tax rate will now be chargeable for incomes above HKD200,000 (USD 25,512). W...
Path: Blog...dines**. This territory revealed the latest budget with **good news for taxpayers**. It refers to both, private individuals and companies. Legal entities will have company **tax reduced by 2.5%**. Also, the hotel owners will have to pay **1% less income tax**. These are the main changes for businessmen. Regarding private individuals, it is important to mention **personal income tax reduction...
Path: Blog...ditionally, many companies, especially larger businesses, will not deal with sole traders and partnerships. **5. Tax benefits** Private limited companies pay corporation tax. It is important to stress that corporation tax rates are lower than income tax rates. Since a limited company can pay out dividends, a shareholder director will hence often choose to receive the most tax efficient c...
Path: Blog...tment company and locating it on Cyprus, there is a possibility to use advantages of special Cyprus investment firm license. It allows founders or CEOs of companies to use all taxation advantages for their business. For example, except for corporate income tax of 12,5% you will be able to avoid capital gains taxes on the disposal of securities, use double tax treaties for your company and also red...
Path: Blog...at will have a day-to-day knowledge of the international banking business conducted by the licensee and sufficient authority within the licensee to participate in the management of that day-today international banking business Taxation 0% income tax, or any other direct or indirect tax or impost is payable in Vanuatu upon the income, profits, gains, interest or dividends earned or paid ...
Path: Licensing... Opportunity to outsource services locally and internationally (with FMS approval) General information Company structure Minimum 1 shareholder (individual or legal entity) Minimum 2 Executive directors Taxation Corporate income tax of Czech Republic – 19%* *Czech resident companies are required to pay corporate income tax on income derived from outside (non-Czec...
Path: Licensing... to citizenship or residence) At least 1 director (natural persons only, at least one local director or a resident of any enforcement country, who is a director of a company registered in that enforcement country) Taxation 28% corporate income tax rate 15 % Goods and Services Tax rate (GST, similar to VAT), not applied to residential rents and financial services Around 40 Double T...
Path: Licensing...ign direct investments.Timeframe: within 7 weeks Minimum paid up capital requirement: USD $2,000* Overview The most common legal entity in El Salvador is a Limited Liability Company (LLC). It is important to note, that corporate income tax rate in El Salvador is 30%, and applies to the total amount of the company’s revenues. However corporate income tax is based on the terri...
Path: Licensing...le for the licensing of all types of financial dealers in Bahamas. An applicant for a Forex License is required to submit the appropriate application to the Commission. Benefits of Bahamas Forex company: Complete Anonymity No Corporate income tax No Personal income tax Dividend income from foreign investments is not taxable in the Bahamas Royalty income is not taxable in the Ba...
Path: Licensing...Type 3 license is required to submit the appropriate application to the Commission. Benefits of Hong Kong licensed corporation: Stability and reputation English is an official language, as well as the main business language No Corporate income tax on foreign sourced income; No withholding tax on interest, dividends and royalty No requirement to maintain a local office No require...
Path: Licensing...tions) At least 1 resident director (representative of the local office) A minimum of 1 local compliance officer (local compliance officer and an internal controller stationed at the company’s local office) Taxation 37.05% Corporate income tax rate (including Corporate Inhabitant Tax) Withholding tax rates: 15% on Dividends, 20% on Interest, 20% on Royalties 8% Consumption tax...
Path: Licensing... Beneficial owners' details – Not part of public record Shareholders' details – Details of shareholders are not available to the public Directors' details – Details of directors are publicly disclosed Taxation Corporate income tax is imposed at both federal, communal and cantonal levels. The Federal effective tax rate is 7.83%. Each canton has its own tax legisl...
Path: Licensing...nt Manager as the initiators of the fund Two Conducting Persons that reside in Luxembourg must be appointed A Custodian for asset safekeeping, fund and provider supervision An Administrator for operational support Taxation exempt to income tax not subject to withholding tax on dividends and capital gains exempt to Net wealth tax VAT exemption on management services Regi...
Path: Licensing...ors Taxation Cyprus tax laws are designed to support the development of the country as an international financial and business center, to promote international investment and to support the development of financial services 30% personal income tax 0% corporate tax as gains from trading in securities are tax exempt exemption from tax on dividend income (subject to certain condition...
Path: Licensing...btain a license, the following steps will be carried out: Preparation of all necessary documents submitting license application Data Processing for License application with the Regulator Assisting in application procedure Registering for income tax purposes with the local Tax Authority In order to obtain license, Offshorelicense will fill all necessary application forms and also ...
Path: Licensing... Beneficial owners' details – disclosed to the Authorities Shareholders' details – part of public record Directors' details – part of public record Taxation Estonian companies and branches of foreign entities are subject to 20% income tax only in respect to all distributed profits (both actual and deemed) Starting from January 1, 2018 – the CIT rate on regular profit dist...
Path: Licensing...tion Company structure At least 1 shareholder (can be natural or legal persons, a legal person must be registered and be present in Czech Republic) At least 2 Executive directors (can be only natural persons) Taxation Corporate income tax of Czech Republic – 19% (incl. capital gains from the sale of shares); Czech resident companies are required to pay corporate income ta...
Path: Licensing...tion Company structure At least 1 shareholder (can be natural or legal persons, a legal person must be registered and be present in Czech Republic) At least 2 Executive directors (can be only natural persons) Taxation Corporate income tax of Czech Republic – 19% (incl. capital gains from the sale of shares); Czech resident companies are required to pay corporate income ta...
Path: Licensing...tion Company structure At least 1 shareholder (can be natural or legal persons, a legal person must be registered and be present in Czech Republic) At least 2 Executive directors (can be only natural persons) Taxation Corporate income tax of Czech Republic – 19% (incl. capital gains from the sale of shares); Czech resident companies are required to pay corporate income ta...
Path: Licensing...ny will be taxed on its chargeable income (including dividends, interests and other income but not capital gains less expenses) at a corporate rate of 15% which is reduced to a net effective tax rate of 3% or even less * *The standard corporate income tax rate is 15% in Mauritius. But for an offshore company which holds a Category 1 Global Business License, the tax rate is reduced to 3% since...
Path: Licensing...riate given the nature, size, complexity and risk profile of the licensed undertaking) Senior representative approved by the BMA who will have reporting obligations to the BMA and who maintains an office in Bermuda Taxation No corporate income tax, personal income tax, VAT, withholding tax on dividends / interest / royalties; No capital gains tax (both corporate and individual); N...
Path: Licensing...siness. Offshorelicense Accounting team would ensure both that you meet your reporting requirements and that you are compliant with the local legislation. The companies in Gibraltar, you may encounter the following deadlines: income tax and Social Insurance must be deducted as per the individuals tax code and remitted to this office by no later than the 15th day of every mo...
Path: Accounting...ompany’s Accounting Reference Date (ARD); Company Tax return – within 9 months after company’s Accounting Reference Date (ARD); Self-Assessment tax return – 31st October if filing via paper, and 31st January if filing online income tax - 31st October if filing via paper, and 31st January if filing online; Quarterly VAT Returns – every 3 months. Accou...
Path: Accounting...llowed, no restrictions with regards to citizenship or residence) At least 2 directors (natural persons only, no restrictions with regards to citizenship or residence) The company must appoint an auditor Taxation No corporate tax No income tax on money earned outside of its territory No interest tax No dividend tax Accounting and Audit requirements Submi...
Path: Licensing...esident of Belize. Confidentiality Beneficial owners' details – Disclosed only with court decision Shareholders' details – Not part of public record Directors' details – Not part of public record Taxation 0% - Corporate income tax Other benefits Belize tends not to disclose its banking or fiscal information. However, Belizean banks are FATCA compliant The...
Path: Licensing...o local, state or national government are generally prohibited, e.g. Eesti Timeframe 2-4 weeks + delivery time for the courier Taxation Estonian companies and branches of foreign entities are subject to 20% income tax only in respect to all distributed profits (both actual and deemed) Starting from January 1, 2018 – the CIT rate on regular profit dist...
Path: Licensing...ish to avoid it then please request a nominee service Directors' details – are part of the public record, if you wish to avoid it then please request a nominee service Taxation In general, a Dutch resident company is subject to Corporate income tax on its worldwide income. However, certain income can be exempted or excluded from the tax base. Non-resident entities only have a limited t...
Path: Companies...l trade and commerce. Hong Kong is not normally regarded as an offshore country as it is a famous for being a major financial centre, however, it is one of the few countries in the world that tax on a territorial basis. Many countries levy corporate income tax on a different basis and they tax the world-wide profits of a business, which includes profits derived from activities outside of the count...
Path: Companies...cial owners' details – disclosed to the authorities Shareholders' details – part of the public record Directors' details – part of the public record Taxation All companies registered in the Czech Republic are liable to corporate income tax. It is payable on worldwide taxable income and capital gains. The tax base is calculated from the accounting profit/loss shown on the relev...
Path: Companies...it features amongst the most sought out locations such as the BVI, Bermuda, Cayman Islands and Jersey. An Offshore or International Company, is commonly set up in an offshore financial centre like Vanuatu, where there are no corporate or personal income taxes, capital gains taxes, reporting requirements, or restrictions on company employment policies. As tax laws differ from country to country ...
Path: Companies...ince their personal information is not registered in public records. Moreover, in this island country NRDC is not subject to taxes and are not subject to local tax system and their employees, directors and/or shareholders are not subject to personal income tax.General information Company structure Only one shareholder (can also be a legal person, no nationality restriction) Only one dir...
Path: Companies... Beneficial owners' details – Not part of public record Shareholders' details – Not part of public record Directors' details – Not part of public record Taxation Belize International Business Companies are exempt from the Belize income tax, from tax on dividends, interest, royalties, compensations and other amounts paid by a company; also they are exempt from all the capital g...
Path: Companies...Confidentiality Beneficial owners' details – Not part of public record Shareholders' details – Not part of public record Directors' details –Not part of public record Taxation BVI Business Companies are exempt from the BVI income tax, tax on dividends, interest, royalties, compensations and other amounts paid by a company; also, they are exempt from capital gains, estate...
Path: Companies... Confidentiality Beneficial owners' details – Not part of public record Shareholders' details – Not part of public record Directors' details –Not part of public record Taxation Lucia IBCs may elect to be exempted from income tax or to be liable to income tax on profits and gains at 1%. Also IBCs are not subject to stamp duties, withholding tax and capital gains tax....
Path: Companies...ficial owners' details – Disclosed to the authorities Shareholders' details – Not part of public record Directors' details - Not part of public record Taxation Delaware Limited Liability Company (LLC) does not pay US state or federal income tax if its owners are not US citizens or green card holders, its offices are located outside of the U.S., and the LLC does no business in the U...
Path: Companies...the UK law provides for the possibility to incorporate and use companies with zero tax rate - LP (Limited Partnership). Scottish LP (Limited Partnership) is similar in structure to the LLP. Feature is the fact that the company itself does not pay income tax if its members are non-residents of the UK, every year it is necessary to take only a short Tax Return. Since the company does not pay taxe...
Path: Companies...with a well-developed advisory and financial infrastructure and good transport links. Foreign Investors are attracted by the taxation structure; there are no capital gains taxes, turnover tax or capital transfer tax, no stamp duties and low rates of income tax. Non-Resident Company is most popular offshore financial product. Isle of Man’s Limited Company equivalent, referred to as an Isle ...
Path: Companies... Min. 1 shareholder (can be legal entities or natural persons) Min. 2 directors (can be only natural persons) A Company Secretary At least 3 employees with respective education based in a local office in Bulgaria Taxation Corporate income tax – 10% (the lowest rate in EU) VAT- 20% (EU internal deliveries and the export are free of VAT) Personal income tax – 10% Dividend...
Path: Licensing...in the top of the World’s richest countries. At the same time, UAE is included in the top that lists the most convenient countries where to establish and maintain the business. Being in such an enviable position, UAE has introduced the 0-corporate income tax zone, which makes it even more attractive place for both new and experienced businessman. Both RAK and Ajman offshore zone offer a favorabl...
Path: Companies...ia. Being the European Union member state, Estonia enjoys high levels of investment, financial freedom, and property rights while corporate tax rates remain relatively low. Moreover, Estonian companies and branches of foreign entities are subject to income tax only in respect to all distributed profits, so the CIT is not applied to retained and reinvested profits. Moreover, Estonia is kno...
Path: Companies...Limited Company - fast and straightforward process - non-residents can hold the shares of Malta company - Malta is the member of the EU and Eurozone - not considered as tax haven and is not blacklisted - possibility to reduce corporate income tax rate to 5% General information Company structure At least 1 Shareholder (can be legal entity, no nationality restrictions) At l...
Path: Companies...ee directors A Panama Corporation needs to also appoint three officers, a President, a Secretary and a Treasurer Taxation If a Panama Corporation conducts its business outside of Panama, it is exempt from all local taxes including income tax, capital gain tax, dividend tax, and stamp duty on transfer of corporate shares, and other property. Secretary Required Register...
Path: Companies...tvia is rapidly making the most of its EU membership. Corporate tax rate is fixed at 15%, one of the lowest in the EU. Advantages of Limited Liability Company in Latvia: - High reputation - EU company - 15% corporate income tax, one of the lowest in the EU General information Company structure Only one shareholder (no nationality restriction) The sole s...
Path: Companies...nvironment General information Company structure At least one shareholder Only one director (also could be an executive body, which is the board) Taxation The tax should be calculated, declared, and paid by an employer income tax in Lithuania is 15% If the average number of employees in the list is up to 10 people, and income of taxing period does not exceed 1 mill...
Path: Companies...or legal entity, no residency restriction) Minimum one limited partner (can also be natural person or legal entity, no residency restrictions) LP may be formed by one person being both general and limited partner Taxation No corporate income tax No withholding tax on profit received by partners outside of Canada Other benefits Availability of one-man limited partnership...
Path: Companies...– disclosed to the authorities Shareholders' details – part of public record Directors' details – Part of public record Taxation Dividend tax - 5% VAT –0%. The EU internal deliveries and the export are free of VAT Personal income tax - 10% Bulgaria is a European Country so a Bulgarian Financial Services License or Forex License will allow you to operate in all EU Bul...
Path: Licensing... to citizenship or residence) At least 1 director (natural persons only, at least one local director or a resident of any enforcement country, who is a director of a company registered in that enforcement country) Taxation 28% corporate income tax rate 15% Goods and Services Tax rate (GST, similar to VAT), not applied to residential rents and financial services Around 40 Double Ta...
Path: Licensing...) A Representative At least 1 (preferably 2) Key Individuals A Compliance officer (we have a person to appoint) External auditor(s) TIimeframe The process may be very lengthy – approximately 1 (one) year Taxation Corporate income tax – 28% No withholding taxes Capital gains tax - 18,6% Capital The FSP shall maintain current assets which are at least suffici...
Path: Licensing...y or residency restrictions, can also be a shareholder) Taxation Nevada is an attractive jurisdiction in which to incorporate as sales tax applies only to products sold within Nevada and, unlike many other US states, there is no Corporate income tax, no Corporate Franchise Tax and no Corporation Succession Tax. Secretary Not Required Registered Agent Required Registered...
Path: Companies