Andorra offers a transparent corporate environment with public records and a register of beneficial owners. Company formation requires a share capital of EUR 3,000 and allows local business activities including land acquisition. Taxation is attractive with 10% corporate tax and low VAT rates, although financial services are taxed at a higher rate. Incorporation time is 5-14 days, with first year costs of EUR 2000-3500 and annual costs of EUR 1400-2900. Andorra has double taxation treaties with several countries, but does not offer any special advantages from these treaties. Local presence is not required for incorporation.
An Argentine Sociedad de Responsabilidad Limitada (S.R.L.) offers a flexible corporate structure with limited liability for the shareholders. Corporate tax is generally 30%, and there are a variety of taxes on local and international transactions. Argentina has a complex tax system with VAT, income tax and other levies. Setting up an S.R.L. can take several weeks, with variable costs depending on the complexity of the business. The country has double taxation treaties with several countries, which can facilitate international business. Companies must submit annual financial reports and are required to do book keeping.
The Bahamas offers an attractive business environment for International Business Companies (IBC) with a simple and fast incorporation process. There is no income or corporate tax and the country requires minimal share capital and no public records of directors and shareholders. Despite the requirement for local economic substance, which includes business premises and local employees, the law allows local business activities and land acquisition. However, the Bahamas is on the EU's gray list of tax havens, which could restrict access to banks and payment service providers. First-year costs for setting up a company are between USD 2300 and 3800.
Bermuda is an attractive destination for offshore companies, known for its stable political environment and progressive legal system. With zero percent corporate, income and capital gains taxes, it particularly attracts the financial and insurance sectors. Companies can be incorporated as exempted companies to benefit from tax advantages while operating internationally. Incorporation is quick and requires no minimum capital, but companies are required by economic substance legislation to have a significant presence on the island. Despite the tax advantages, the economic substance requirements and associated costs should be considered.
A Brazilian Limitada (Ltda.) is a popular form of company that offers limited liability to shareholders. The Brazilian tax system is complex, with a corporate income tax that can effectively be as high as 34%, including federal, state and municipal taxes. Brazil also imposes taxes on goods and services (ICMS, ISS), which can increase the tax burden. Setting up a Ltda. can take several weeks and requires a number of bureaucratic steps, including registration with several government agencies. Companies must submit annual balance sheets and are required to keep detailed accounts. Despite the challenges, Brazil offers significant business opportunities with its large market and diverse industries.
The British Virgin Islands (BVI) offers quick and easy company formation with low share capital and high anonymity for directors and shareholders. Despite the registration of beneficial owners in a government register, there are no public records. The BVI requires local economic substance, which includes business premises and local employees, but allows local business activities and real estate ownership. There are no corporate, sales or withholding taxes, which makes it an attractive offshore location, despite being on the EU's list of tax havens. Incorporation costs and annual fees are relatively moderate, but require additional investment for compliance with substance requirements.
Bulgaria offers transparent company formation with public records of directors and shareholders and an EU-compliant register of beneficial owners. Incorporation is quick and inexpensive, with minimal share capital and allows for local business including land acquisition. Bulgaria offers an attractive tax environment with a low corporate tax rate of 10%, moderate withholding taxes and a comprehensive network of double tax treaties. Annual costs are low and local presence is not required, making Bulgaria a competitive location for business start-ups within the EU.
The Cayman Islands offer offshore company formation with low share capital and strict anonymity, with no public records of directors or shareholders. A government register of beneficial owners ensures transparency. There are no income, corporation or sales taxes, which makes the islands particularly attractive. The requirements for economic substance require local business premises and employees. Incorporation is quick and first year costs are between USD 3000 and 3400, with annual follow-up costs. Despite access to global banking services, companies must meet local substance requirements.
A Colombian Sociedad de Responsabilidad Limitada (Ltda.) offers a business structure with limited liability for its shareholders. The minimum capital for incorporation is flexible and allows small to medium-sized companies to establish themselves effectively. Colombia has a corporate tax of around 31% and a VAT of 19%. Setting up a company is relatively straightforward due to a simplified registration process, but requires compliance with local regulations and tax laws. Colombia encourages foreign investment with various incentives, particularly in sectors such as tourism, agriculture and technology. Companies must submit annual financial reports and are required to keep accounts according to local standards.
Costa Rica offers company formation with transparent rules and public records of directors and shareholders. The country requires minimal share capital and allows local business activities, including land acquisition. There is territorial taxation with a progressive corporate tax structure and withholding taxes on dividends, interest and royalties. Costa Rica has double tax treaties with several countries and offers incentives through free trade zones. The incorporation period is 14-21 days, with initial costs of around 1000-1500 USD. Annual follow-up costs are 700-1200 USD. Local presence is not required, shelf companies are available, but bearer shares are not.
A Cyprus Ltd. enables entrepreneurship with a corporate tax rate of 12.5% and a 0% withholding tax on dividends, interest and royalties under certain conditions. With a minimum share capital of EUR 1, public records of directors and shareholders and an EU-compliant register of beneficial owners, Cyprus offers transparency and compliance. VAT is 19%, with mandatory registration from EUR 15,600 turnover. Local economic substance requirements apply, including a business address and a local secretary. Incorporation takes 3-7 days, with initial costs of EUR 1000-2500. Cyprus has numerous double taxation treaties that reduce or eliminate withholding tax.
In Georgia, company formation is quick and straightforward, with a transparent legal framework that includes public records of directors and shareholders and an imminent introduction of a beneficial ownership register. With a minimum registered capital of 1 GEL and an attractive taxation regime where corporate tax is only payable on distribution of profits, Georgia offers a business-friendly environment. Incorporation processes are completed within 1-5 days and the country encourages a wide range of business activities, including the acquisition of real estate. Georgia has numerous double taxation treaties that offer tax relief. Initial incorporation costs are between 1500 and 2000 EUR, with annual costs of 1200 to 1700 EUR, making the country an attractive location for entrepreneurs and investors.
A Honduras Sociedad de Responsabilidad Limitada (S. de R.L.) is a form of business organization that offers shareholders limited liability. The minimum capital required for incorporation is relatively low and allows flexibility in the company structure. Honduras has a corporate tax of around 25%, and there is VAT (Impuesto sobre Ventas) at a standard rate of 15%. Setting up a business can be complicated by bureaucratic hurdles and the need for multiple registrations with different government institutions. Despite these challenges, Honduras offers opportunities with its free trade zones and incentives for foreign investment, particularly in the manufacturing and export sectors. Companies must submit annual financial reports and comply with local accounting regulations.
The Hungarian KFT (Korlátolt felelősségű társaság) is a popular form of limited liability company characterized by a minimum share capital of HUF 1,500,000. Hungary offers an attractive business environment with a low corporate tax rate of 9% and a high VAT standard of 27%. Withholding taxes on dividends, interest and royalties are 0% for companies, while individuals pay 15%. A company in Hungary must file annual returns and tax declarations, with the possibility of an audit under certain conditions. Incorporation can be done within 3-7 days, with initial costs of 700-1500 EUR. Hungary has numerous double taxation treaties and offers no withholding taxes for EU/EEA companies due to the application of relevant EU directives.
A Malta Ltd. offers transparent corporate structures with public records and an early register of beneficial owners. Incorporation requires a share capital of EUR 1,165, allows for local business activities and property ownership. With a high corporate tax rate of 35%, Malta offers a unique refund system that can reduce the effective tax burden to 5%. Incorporation takes 5-14 days, with costs of 1000-2000 EUR in the first year. Malta has comprehensive double tax treaties, but no withholding taxes on dividends, interest or royalties for EU/EEA companies, making it an attractive location for start-ups.
In the Marshall Islands, companies can be incorporated with minimal share capital requirements and without public records of directors or shareholders. However, companies must maintain a local register of beneficial owners. The islands offer full tax exemption on international income and low sales taxes on local sales. Despite the requirement for economic substance, which requires a local presence in the form of business premises and employees, a physical presence is not required for incorporation. Formation costs are USD 1700-2100 in the first year, with annual follow-up costs of USD 500-1100. Bearer shares are permitted, but require a state-run register.
Mauritius offers company formation with low share capital and anonymity for directors and shareholders, although a local register of beneficial owners must be maintained. Despite the prohibition of local business activities and land acquisition, the country offers an attractive tax environment with 0% corporate tax and low VAT rates. Incorporation processes take 10-20 days, with initial costs of USD 2200-6000 and annual costs of USD 1000-1800. Mauritius has improved its reputation by being removed from the EU grey list, which facilitates access to banking services. A physical presence on the ground is not required, making it an attractive location for offshore companies.
A Mexican Sociedad de Responsabilidad Limitada de Capital Variable (S. de R.L. de C.V.) offers a flexible and adaptable corporate structure with limited liability for its shareholders. The minimum capital required for incorporation can be relatively low, making it attractive for small to medium-sized companies. Mexico has a corporate tax rate of around 30% and a VAT rate of 16%. The country offers a dynamic business environment with access to large markets via free trade agreements. Incorporation requires registration with various authorities and compliance with specific regulations. Companies benefit from incentives in sectors such as manufacturing and exporting, but must comply with local accounting standards and submit annual tax returns.
A Montenegro d.o.o. (limited liability company) enables a simple and fast company formation with only 1 EUR share capital and the possibility to acquire landowners. Corporate tax varies between 9-15%, with a standard VAT rate of 21%. Public records of directors and shareholders exist and a register of beneficial owners may soon be introduced. Incorporation time is 5-14 days, with first year costs of EUR 1000-1600. Despite its position on the EU gray list and restricted banking access, Montenegro offers tax incentives, especially for investments in underdeveloped regions.
Panama allows for quick company formation with low costs and transparent processes, including public records and a local register of beneficial owners. There is 0% territorial taxation on international income, while local income is taxed at up to 25%. Incorporation costs for the first year are USD 1600-2000, with annual follow-up costs of USD 600-1200. Panama supports local business activities and property ownership, but imposes requirements on economic substance. Despite limited banking access, the country offers attractive tax incentives and free trade zones, making it a popular location for offshore companies.
A Limitada in Madeira, Portugal, offers an attractive corporate structure with low incorporation costs and low tax rates, especially for SMEs, which can benefit from a reduced corporate tax rate. Formation requires a minimum share capital of EUR 5,000 and can be completed within 10-20 days. There are economic substance requirements, such as investments in fixed assets or the hiring of employees. Madeira also offers a special tax regime with potentially very low tax rates, depending on the number of employees. Portugal's comprehensive double taxation agreements can further reduce the tax burden. Local presence is not required for incorporation, however local knowledge is recommended for compliance with substance requirements.
A Romanian SRL offers fast and cost-effective company formation with minimal capital requirements and public records of directors and shareholders. The introduction of a register of beneficial owners is imminent. Corporate income tax is 16%, but can be reduced to 1-3% of turnover for micro-enterprises. Romania has an extensive network of double taxation treaties and offers incentives such as tax exemptions in underdeveloped areas. The incorporation period is 3-7 days, with initial costs of EUR 600-1200. Despite the substance requirements, a physical presence is not required for incorporation, offering flexibility for international investors.
A Russian limited liability company (OOO) offers a flexible business structure with limited liability for its shareholders. The minimum share capital required is relatively low, making it attractive for small to medium-sized companies. Russia has a corporate income tax of 20% and VAT of 20%. The country offers great market potential and a strategic position for trade between Europe and Asia. Establishing an OOO requires registration with the Russian authorities and compliance with local legislation, including accounting regulations and annual reporting. Companies can benefit from various government incentives, but must take into account local business regulations and cultures.
Nevis allows for discreet and fast company formation with no disclosure of directors or shareholders in the commercial register, although a local register of beneficial owners is required. With minimal share capital requirements and the ability to hold real property, Nevis offers a flexible business environment. The island has a high corporate tax rate of 33%, but no income tax for individuals. Incorporation costs range between USD 1700 and 2200, with annual follow-up costs. Despite limited banking access, the removal from the EU blacklist improves Nevis' attractiveness as an offshore location.
St. Vincent and the Grenadines offers fast and discreet company formation without public director or shareholder records, although a local register of beneficial owners is required. Incorporation requires minimal share capital and allows for land ownership. The tax structure favors international income with 0% corporate tax, while local income is taxed at a higher rate. Incorporation costs range from USD 800 to USD 1600 in the first year, with moderate subsequent costs. Although access to banking services can be limited, the archipelago offers tax incentives and is part of the CARICOM agreement, which brings certain tax benefits.
In the Seychelles, it is possible to set up a company with little capital outlay and a high degree of anonymity, as there are no public records of directors or shareholders. However, companies must maintain a local register of beneficial owners. The tax policy offers 0% corporate tax on international and certain local income, with progressive rates for higher local income. Incorporation takes 7-14 days and costs USD 1000-1600 in the first year, with annual follow-up costs of USD 300-900. Despite limited banking access, Seychelles offers double tax treaties with numerous countries and an attractive tax structure, making it a popular offshore location.
Singapore offers a business-friendly environment with a high Ease of Doing Business ranking and low corruption. Corporate income tax is progressive, starting at 4.25% for the first SGD 10,000 and rising to 17% for income above SGD 190,000. Dividends are exempt from withholding tax, while interest and royalties are taxed at 15% and 10% respectively. Start-ups enjoy special tax benefits. The country has an extensive network of double taxation agreements. Setting up a company is quick and cost-effective, with a wide range of banking services and the obligation to file annual accounts and tax returns. A local director and secretary are required.
In Switzerland, especially in cantons such as Lucerne and Zug, companies benefit from attractive taxation, with corporate tax rates around 12.32% to 15.1% and the possibility of an effective tax rate of ~9% for certain companies. The country offers an extensive network of double taxation treaties, a high withholding tax on dividends and interest, which can be waived under special conditions, and no withholding tax on royalties. Setting up a company takes 8-12 days, with first-year costs of around EUR 18,500. Despite the high initial investment and the need for annual bookkeeping and tax returns, Switzerland is an attractive environment for entrepreneurs due to its stable economic and political framework and low VAT.
A limited liability company in Tanzania (Ltd.) provides access to a dynamic and growing market in East Africa. With a minimum capital, which is often symbolic, the Tanzanian Ltd. allows a flexible business structure with limited liability for its shareholders. Tanzania has a corporate tax rate of 30% and a VAT rate of 18%. The country encourages investment in key sectors such as agriculture, mining and tourism through various incentives and tax breaks. Registering a Ltd. requires compliance with local regulations and an understanding of the business environment. Companies must be prepared for thorough market research and adaptation to local conditions.
In Ras Al Khaimah, part of the United Arab Emirates, the laws allow for fast and anonymous company formation without public records of directors or shareholders and without disclosure of beneficial owners. Incorporation can take place within 3-7 days, with first-year costs of USD 3800-4000 and annual follow-up costs of USD 1200-2200. Despite the ban on local business activities, the emirate offers a tax-free environment for companies, with 0% corporate tax and a 5% VAT on certain activities. The UAE also offers good access to banking services after being removed from the EU blacklist.
Vanuatu allows for quick and anonymous company formation without public records of directors or shareholders, but requires a local register of beneficial owners. The country does not allow local business activity or land acquisition, except for office rental for management purposes. Despite its position on the EU blacklist of tax havens, Vanuatu offers 0% corporate tax and no income tax for individuals. Initial incorporation costs are USD 2200-3000, with annual costs of USD 800-1500. Company formation is possible within 5-14 days, with no physical presence required.
