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Jurisdictions

HOW DO I DECIDE WHICH JURISDICTION WILL BE APPROPRIATE FOR MY NEEDS?

Offshore Company Services have already selected what we believe to be the best worldwide centres for the main activities that offshore centres are used for, taking into account taxation benefits, requirements on public information, political stability, governance, communications and efficiency and ongoing administration and costs.

Once you have decided on your chosen jurisdiction, formation and set up of your office network is straightforward and handled quickly and efficiently by our professional staff. Your full company documents will be completed and delivered to you by courier.

At all times a member of our staff will be able to assist and advise along the way both pre and post incorporation to ensure the correct set up and smooth running of your offshore company network.

Jurisdiction

We have many offshore jurisdictions in which you can choose to incorporate your company. Each has specific advantages and disadvantages based on how you intend to use the company. For your ease of selection we have classified the centres in to either Trading or Asset Holding centres.

For Trading companies we recommend the following high prestige centres:
Gibraltar
Delaware – USA
Dubai – UAE

For Asset Holding companies we recommend the following centres for zero tax, efficiency and confidentiality:
Belize
British Virgin Islands (BVI)
Dubai

For the all-round company we recommend the high prestige central location of Dubai as an excellent choice.

For Online Trading activities with no VAT or sales tax Gibraltar is the ultimate location. Gibraltar has geared itself specifically to this type of trading and is now home to thousands of online businesses especially those in the gambling sector.

Please note that with all of our centres, there is no requirement to visit the country concerned, or even attend our offices. All arrangements can be made via our website or telephone.

BELIZE

Formerly a British colony “British Honduras”, Belize is located on the East coast of Central America, and is considered a relatively new jurisdiction within the Caribbean, whilst having the benefit of an onshore presence. The introduction of the International Business Companies Act 1990 has meant that Belize is now recognised as one of the most cost effective offshore jurisdictions with flexible legislation and speedy incorporation times. Belize has a well developed infrastructure, with a sophisticated array of ancillary services, geared towards servicing offshore networks.

The International Business Company (IBC) is considered the ultimate asset-holding vehicle. The lack of public registers in Caribbean assists anonymity of ownership coupled with the flexibility of the IBC legislation.

Language

English is the official language being a former British colony. Spanish is the second language.

Currency

Belize Dollar. The Belize dollar is pegged to the US dollar at BZ$2 = US$1.

Governance

Belize is a parliamentary democracy, a constitutional monarchy and a member of the Commonwealth of Nations.
The structure of government is based on the British parliamentary system, and the legal system is modeled on the common law of England. The current head of state is the Queen of Belize, Elizabeth II, who is represented in the country by the Governor-General.

Taxation

No taxation on income
No capital gains tax on disposal of assets
No double tax treaties
No exchange controls for International Business Companies

Legislation

International Business Companies Act 1990

Information on Public File

Memorandum and Articles of Association, Registered Office and Agent Details

BRITISH VIRGIN ISLANDS (BVI)

A British overseas territory, located in the Caribbean. Synonymous with the provision of “no-fuss” offshore companies based on highly flexible legislation and low set up costs. The British Virgin Islands are well geared towards offshore investment and have absolute respectability in the offshore world. The provision of offshore services is incredibly important to the BVI economy, with nearly 50% of the Government’s revenue coming directly from licence fees for offshore companies.

The International Business Company (IBC) is considered the ultimate asset-holding vehicle. The lack of public registers in Caribbean assists anonymity of ownership coupled with the flexibility of the IBC legislation.

Language

English

Currency

US Dollar

Governance

Executive authority in British Virgin Islands is invested in The Queen and is exercised on her behalf by the Governor of the British Virgin Islands.

Taxation

No taxation on income
No capital gains tax on disposal of assets
No double tax treaties
No exchange controls exist, for International Business Companies

Legislation

International Business Companies Act 1990

Information on Public File

Memorandum and Articles of Association, Registered Office and Agent Details

DELAWARE, USA

Delaware, a small state located midway between Washington and New York, is known as the ‘Corporate Capital of the World’. This is due to the huge numbers of companies incorporated there, including half of the top 1000 US Companies. This is because companies incorporated in Delaware pay no tax on profits arising from trading activities outside of the state of Delaware. With the stability, infrastructure and economy of the USA, Delaware is certainly one of the most attractive jurisdictions a company can choose. With its emphasis on encouraging new incorporations, Delaware has ensured that its Company law consists of few regulations and a lack of bureaucracy.

We strongly recommend Delaware as an excellent jurisdiction for trading companies, due to its location, communication, requirements on public information and the level of confidence it gives suppliers, creditors and customers.

Information Held on Public File

Name of Company, Date of Incorporation, Status, Registered office and agent details.

Language

English

Currency

The official currency is the US dollar.

Governance

The US is a federal Presidential Republic bound by the United States constitution. Delaware, like the other states, exercises a measure of internal self-government.

Taxation

A Delaware LLC owned by non-US residents, which does not employ US residents or carry on any business activity that is connected with business or trade in the US, pays no US tax.

Even if trading within the US, the speed of incorporation, the Delaware Corporation Law and general infrastructure, makes Delaware the ideal choice.

No sales tax No VAT
No exchange controls
No double tax treaties

DUBAI

Dubai in the United Arab Emirates is an entrepreneur’s paradise, it is not seen as a tax haven, even though it has zero tax. The UAE is a real country with population of 4 million and is an established business hub with a diverse and developed economy. Dubai has set up a number of free zones enabling Offshore Companies to do worldwide trading and investment and the RAK International Company enables 100% foreign ownership and no requirement for physical presence in the jurisdiction.

Language

Arabic although English is widely spoken.

Currency

Dirham (AED) 3.67 AED = $1 fixed since 1977

Government

Since 1833 the AL Maktoum family have ruled Dubai and their wise and progressive leadership has enabled this region to grow and prosper, and create the stable cosmopolitan and vibrant city it is today.

There has never been nor ever will be any taxation in Dubai and it offers one of the fastest growing countries in the World coupled with the highest standards of living.

A RAK Offshore Company is the ultimate business structure for a free enterprise system.

Taxation

No personal income or capital taxes
No corporation tax
No currency restrictions
No exchange controls
No accounts filing

Legislation

International Business Company (IBC)

100% foreign ownership allowed

Information on Public File

Registered Office and Agent only
(No Directors / Shareholders or accounts required)

GIBRALTAR

A British Overseas Territory located near the southernmost tip of the Iberian Peninsula. Its reputation as one of the worlds most stable and prosperous territory with excellent communications and transport links from the UK makes it a very favourable choice for UK clients. Most importantly it is not seen as a tax haven and British traditions are upheld. The colony is a financial centre of free entrepreneurial activity with English speaking professionals, international banking institutions and a thriving corporate services sector.

We therefore recommend Gibraltar as the jurisdiction of choice for trading companies, given its location, excellent communication links, local professional support, low taxes, governance and stability.

Language

The official language of Gibraltar is English. Most locals are bilingual, also speaking Spanish, due to Gibraltar's proximity to Spain.

Currency

The currency is the Gibraltar Pound. It is on a par with the British Pound Sterling. Sterling currency notes issued by the Bank of England are legal tender and are in circulation in Gibraltar alongside the local note issues. The Euro is unofficially accepted in Gibraltar, though not by post offices or all payphones.

Governance

Gibraltar is an overseas territory of the UK. The UK retains responsibility for defence, foreign relations, internal security, and financial stability.

Gibraltar is a member state of the EU. Gibraltar is however excluded from the Common Agricultural Policy, the VAT system and the Customs Union.

Information Held on Public File

Details of Directors, Shareholders, Registered Office,

Memorandum & Articles of Association, Annual Return, Mortgages and Charges.

Taxation

A properly structured Gibraltar non-resident company is exempt from Corporation Tax, Capital Gains Tax and VAT.

To be a non-resident Company, a Gibraltar registered company must satisfy the following:

  • The company must be owned and controlled by persons not resident in Gibraltar
  • The company must not carry on any business or trade in Gibraltar or with residents of Gibraltar
  • The company must not accrue, derive from or receive any income in Gibraltar

No VAT system in Gibraltar or other sales taxes
No capital gains tax
No wealth tax
No exchange controls
No inheritance tax or estates duty
No double tax treaties