Belize

Belize company incorporation packages

ServicesGOLD
1320 USD
PLATINUM
1870 USD
Company registration including government fees✔︎✔︎
Registered address for 1 year✔︎✔︎
Apostille✔︎✔︎
Company seal✔︎✔︎
Share certificate✔︎✔︎
Courier services✔︎✔︎
Provision of professional shareholder for 1 year ✔︎
Provision of professional director for 1 year ✔︎
Total cost1320 USD1870 USD
Annual renewal fee830 USD1420 USD

Why choose us for your Belize offshore company formation?

  • fast and efficient service, no unnecessary delays
  • best competitive prices – lower incorporation cost and subsequent maintenance fees
  • quick status updates on orders
  • professional service – we are a group of companies with over 20 years of experience in the company formation industry
  • comprehensive, all-in-one service – with 187 employees working in 6 offices worldwide not only do you get Belize company registration, but also legal and tax advice, bookkeeping and audit, immigration and second citizenship, translation and other international business services

Why open a company in Belize?

Here are just a few reasons why businessmen and entrepreneurs may want to register a company in Belize for their international business:

  • No legal restrictions on the residence of people who own (shareholders) or manage (directors) a Belize company
  • No minimum share capital: a Belize company can only issue and pay up one share
  • No corporate tax (if your company does not receive any profit in Belize)
  • No statutory requirement to file financial statements or tax returns (if your company does not receive any profit in Belize)
  • You can buy a Belize shelf (ready-made) company when you do not have time to incorporate a new company in Belize. Paperwork can be completed in just a few hours, subject to approval from compliance department
  • Dividends can be declared at any time, provided that the company meets the solvency test
  • Mergers and acquisitions: Belize companies are allowed to merge with Belize or foreign companies, and the surviving company may be located either in Belize, or in a foreign country
  • Redomiciliation: Belize companies can continue in another jurisdiction which allows re-domiciliation

Belize IBC incorporation

Belize IBC vs. Belize LLC

Although Belize offers a variety of business organization forms, a Belize IBC (International Business Company) is by far the most popular. It should be distinguished from a Belize LLC (Limited Liability Company): an LLC has a different ownership and management structure and all its profits and losses must be allocated to its members within a single fiscal year, whereas an IBC can “retain” its earnings from year to year. Overall, Belize IBC formation is much more common for a non-resident operational business.

Statutory requirements

Every Belize IBC must have a local registered office and a registered agent.

The company is required to have at least one director and one shareholder, whether individual or corporate, resident or not.

There is no minimum share capital. IBCs with the authorized share capital of more than $50,000 pay a higher government fee. Bearer share shave recently been prohibited.

Register of Directors

The International Business Companies (Amendment) Act 2017 imposed on IBCs the requirement to keep a register of directors and determined what information it must contain in the cases of individual and corporate directors. It is true that many companies chose to have such register even before the enactment, but the amended Act disposed with the optionality and made it an obligation.

A register of directors can be kept electronically, with a copy necessarily provided to the registered agent and kept at the registered office. A register of directors is NOT public.

Register of Beneficial Owners

The International Business Companies (Amendment) Act 2017 also imposed on IBCs the requirement to keep a register of beneficial owners, which must contain accurate and up-to-date information on the companies’ beneficial ownership.

A beneficial owner is defined as a natural person who ultimately owns or controls a customer, on whose behalf a transaction is being conducted, or who exercises ultimate effective control over a legal person or arrangement. The International Financial Services Commission, the Belize corporate regulator, has determined the “ultimately ownership or control” in terms of figures – 10% or more of the entity’s shares, ownership interest or voting rights. The time allowed for a person becoming a beneficial owner of the company to inform that company (effectively its registered agent) accordingly is 30 days.

It is important to note that the register of beneficial owners should be kept at the registered office in Belize, but it is NOT public.

Statutory Instrument No. 62 of 2018 was later passed to also introduce a Declaration of Beneficial Owners (Form A) stating who the beneficial owners of the company are – this is a document that the company’s directors have to sign and submit to the registered agent in addition to the register of beneficial owners.

Accounting Records

With the coming into effect of the Accounting Records (Maintenance) Act 2013, every Belize company is now required to keep its accounting records. Accounting records include financial statements; general and subsidiary ledgers; sales slips; contracts and invoices; and records and documentation relating to: the company’s assets and liabilities, incoming payments and expenses, sales and purchases, and financial transactions.

Accounting records can be kept at the registered office or at any other physical address within or outside Belize chosen by the company’s directors for that purpose. If they are kept outside Belize, the registered agent must be informed of the location’s address and of its change within 14 days. Accounting records must be retained for at least 5 years from the closure of an account, or the end of a transaction, or the termination of a business relationship.

Online Register of Companies

Unlike many classic offshore jurisdictions, Belize has an online register of companies. The information you can get access to is, of course, very limited, most of the important data such as details of directors and shareholders, or share capital, being kept privately. But at least you will be able to see:

  • company name (to check whether a company is indeed on the register);
  • company number; and
  • company status: active/inactive.

Nominees for a Belize IBC

We do not only incorporate Belize IBCs, we provide nominee directors and nominee shareholders for them. It should be noted that to avoid the risk of being treated as tax resident due to the locally exercised “management and control”, offshore companies almost never have resident directors or shareholders. Belize is no exception.

A nominee shareholder effectively holds the shares in trust for the client, agreeing to act upon his legitimate instructions. This trust relationship is created by the nominee shareholder issuing a declaration of trust, or by both the nominee shareholder and the beneficial owner signing a bilateral document – deed of trust.

A nominee director would issue a Nominee Director’s Declaration stating that he only acts on instructions of the client and not of his own free will, and would often issue a power of attorney (general or special) to the client, thus transferring to him most or some of the management powers. This way the nominee director’s name will appear on the register of directors, but the day-to-day operations will be ceded to the client. It is also not uncommon for a nominee director to sign all the operational documentation such as contracts, corporate resolutions, invoices etc, if the client so wishes, in which case the director may want to understand the essence of the transaction.

Provision of nominee services is a licensed and regulated business. And the growing compliance requirements may make the nominees review the documents and business transactions of their clients rather carefully.

New Incorporations vs. Shelf Companies

A new Belize incorporation takes around two weeks on average. It can be a bit shorter or a bit longer, depending on your purposes and the documents you wish to get. If you are happy with the standard documents but would like your company to have a certain name of your choice, incorporation will not take long. If, say, you want to substantially amend the text of the standard M&AA (Memorandum and Articles of Association), it will take longer because amendments should first be checked by a local lawyer for their compliance with the IBC Act.

Buying a shelf (ready-made) company in Belize is a good alternative for those who need to make a quick start and begin business operations immediately. You can receive the corporate documents within 1 day, provided that no personal changes to the company documents are required. All you need to do is to choose a name from the list of available shelf companies and provide your details required for compliance with Belize corporate and anti-money laundering legislation.

Economic Substance (Physical Presence)

In the recent years the laws of many countries have been substantially amended in an effort to increase transparency of international business and close down on tax evasion and treaty shopping. Key offshore jurisdictions, such as BVI, Belize and Caymans, were particularly affected by the coming into force of the economic substance legislation. The term used in Belize is the “physical presence” requirement.

The International Business Companies (Amendment) Act, 2018 came into force on 1 January 2019. Under this new Act, all Belize IBCs are equated to local resident (domestic) companies and can now do whatever domestic companies are allowed to do: conduct business in Belize and with Belizean residents, own local land or property, open bank accounts in Belize dollars etc.

Basically, now IBCs will need to choose, whether to be a Belize resident or not.

If a company chooses to be non-resident, i.e. not conduct business in Belize or receive income from sources in this jurisdiction, it must provide proof that it pays tax elsewhere. It is expressly stated that an IBC does not become a resident simply by the fact of holding deposits in Belize; maintaining contact with local professionals such as lawyers, accountants, administration companies, or investment advisers; or by keeping its books and records in Belize.

If a company chooses to be resident, it must:

  • pay income tax on any profit from a source in Belize, i.e. only in the cases where it carries on business in Belize – territorial principle of taxation;
  • file an Annual Tax Return;
  • pay stamp duty (upon sale and transfer of property; transactions in respect of the shares or other securities of the company; in relation to assets or activities of the company).

If a company has income from sources in Belize, it can obtain a local tax number – Belize Tax ID.

In terms of banking, a resident IBC can have USD accounts at local banks and at foreign or international banks located in Belize; can apply to the Central Bank of Belize for permission to open a foreign currency account at a Belizean bank; has to submit to the Central Bank of Belize monthly reports of all transactions in its USD accounts and of all sales and purchases; and is subject to the Exchange Control Regulations Act.

Physical Presence
The International Business Companies (Amendment) Act, 2018 added a whole new chapter on Physical Presence, making it obligatory for companies to be physically present in Belize if they do any business licensed under the International Financial Services Commission Act.

Physical presence includes:

(a) employment (whether directly or indirectly) of sufficient and adequate number of suitably qualified staff; and
(b) expenses adequate to the size and complexity of business; and
(c) control and management exercised from Belize, in particular if the company:

  1. (a) employment (whether directly or indirectly) of sufficient and adequate number of suitably qualified staff; and
  2. (b) expenses adequate to the size and complexity of business; and
  3. (c) control and management exercised from Belize, in particular if the company:
  • engages at least 2 directors resident in Belize for the purpose of holding, acquiring and disposing of assets; managing the business; making banking and financial arrangements; instructing lawyers, accountants and other advisors; distributing income and dividends;
  • holds its board meetings in Belize
  • states in its M&AA that disputes arising out of or in connection with the company’s activity shall be settled pursuant the Arbitration Act

A company that carries on any other (non-licensed) business may choose to be physically present in Belize. But once it has complied with the physical presence requirement, a company will have to stay compliant for a period of at least five years.

General information

General information

Total area22.966 sq. km
Population334.297 (2013)
CapitalBelmopan
Unemployment12.1% (2013)
Corruption perceptions index rank109 (2008)
Government type parliamentary democracy
Executive branch Government (cabinet of ministers) with a Prime Minister as its head
Legislative branch bicameral National Assembly ( Senate and House of Representatives)
Judicial branch Magistrates Court, the Supreme Court, the Court of Appeal
GDP per capita rank 95 (2012)

Corporate info

Shelf companies permittedYes
Legal systembased on English Common Law
Incorporation timescale for a turnkey company2 weeks
Cyrillic alphabet permitted in company nameNo
Local registered officeYes
Types of entity Sole Proprietorship; General Partnership; Limited Partnership; Private Company; Limited Life Company; Public Investment Company; International Business company; Trust Fund; Joint Venture and Cooperative; Branch; Representative office
Incorporation timescale for a new company 1 day
Company suffix Limited, Corporation, Incorporated, Society Anonyme, Sociedad Anonima, Aktiengesellschaft or related abbreviations: Ltd., Corp., Inc., S.A., A.S., A.G.
Sensitive words Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Municipal, Royal or similar words; Assurance, Bank, Insurance, Trust; words suggesting the patronage of Her Majesty or that of a member of the Royal Family, or a connection with the Government of Belize; indecent, offensive or objectionable words

Shares and share capital

Minimum authorized share capitalNo requirements
Minimum issued share capitalNo requirements
Minimum paid share capitalNo requirements
Authorized capital payment deadlinesNo requirements
Bearer shares permittedYes
Issued capital payment deadlines No requirements
Standard currency US dollar
Standard authorized share capital 50000
Standard par value of shares 1
Shares with no par value permitted Yes

Taxes

Min. rate for corporate tax0%
Capital gains taxNo
VAT12.5%
Withholding tax25%
Exchange controlNo
Personal tax 25%
Corporate tax (in detail) Business tax is imposed on all gross receipts of persons. Taxable persons are self-employed persons, firms, partnership or company. The rates vary according to the source of the income and range from 0.75% (on the sale of fuel and lubricants) to 25% (withholding tax on non-residents). A Belize International Business Company is not subject to any tax or duty on income or profits.
Capital gains tax. Details There is no capital gains tax in Belize.
VAT. Details General Sales Tax in Belize is a tax on consumer spending, collected in stages; that is, at the point of importation and on business transactions when goods change hands or services are performed. The GST rate is 12.5%.
Other taxes property tax; land tax; environmental tax; customs duties; revenue replacement duty; excise duties
Government fee 100 dollars
Stamp duty 0%

Accounts

Party to the Hague Convention (Apostille)Yes
Legal systembased on English Common Law
Double tax treaties network14
OECD memberNo
Offshore/onshore status according to the RF lawsYes
Requirement to prepare accounts Yes
Double tax treaties network 14
Tax Exchange Information Agreement network 20
OECD member No

International law relations

Party to the Hague Convention (Apostille)YesLegal systembased on English Common LawDouble tax treaties network14 OECD memberNoOffshore/onshore status according to the RF lawsYes

Tax treaties

Tax treaties entered Antigua and Barbuda, Austria, Barbados, Dominica, Grenada, Guyana, Jamaica, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Switzerland, Trinidad and Tobago, United Arab Emirates, United Kingdom
Tax Exchange Information Agreement (TEIA) Australia, Belgium, Czech Republic, Denmark, Faroe Islands, Finland, France, Greenland, Iceland, India, Ireland, Mexico, Netherlands, Norway, Poland, Portugal, South Africa, Sweden, Switzerland, United Kingdom

Hong Kong Offshore Company Formation

Hong Kong company incorporation packages

Services GOLD
1320 USD
PLATINUM
2585 USD
Company registration including government fees ✔︎ ✔︎
Registered address for 1 year ✔︎ ✔︎
Apostille ✔︎ ✔︎
Company seal ✔︎ ✔︎
Share certificate ✔︎ ✔︎
E-Provision of professional shareholder for 1 year   ✔︎
Provision of professional director for 1 year   ✔︎
Total cost 1320 USD 2585 USD
Annual renewal fee 1265 USD 2415 USD

Free Consultation

 

Advantages of incorporating A HONG KONG COMPANY with us

you work directly with a licensed Hong Kong services provider (read more about our Hong Kong license), and thus:

Offshore Hong Kong
  • you get all services much faster, without any unnecessary delays
  • you get the best formation fees without intermediaries
  • you enjoy the highest confidentiality protection level as no intermediaries are involved, and all your data and documents needed for incorporation purposes are maintained on our files only
  • immediate status updates for your orders, again, because no intermediaries are involved
  • if confirmation of physical presence / substance is required (which became a rather frequent request for bank account opening or other related purposes), we can arrange for an office lease agreement, or employ local staff for you in Hong Kong
  • we pride ourselves on 20+ years of experience in the company formation industry
  • 187 employees in our 6 offices worldwide (including Hong Kong) which means that you can order not only company registration, but also legal, tax planning, and bookkeeping services, we arrange for, and prepare and file financial statements, as well as offer translation (include from Chinese) and other related services

UNIQUE Advantages of Setting Up A HONG KONG Company

  • Hong Kong is a common law jurisdiction, unlike most countries in the region, which makes the incorporation procedure much easier, and the fees – lower (can be times less than in other Asian jurisdictions, such as Singapore, for instance)
  • Hong Kong is obviously the best choice for doing business in the Asian market as it enjoys a solid financial center reputation
  • No restrictions for non-residents to own a Hong Kong company
  • The income tax rate is 16.5%, but we draw your attention to the fact that any profit obtained outside the territory of Hong Kong is not subject to taxation, and what is more – there is no taxation for dividend or interest, no VAT or capital gains tax
  • Minimum issued share capital can be equal to HK$1 only
  • Hong Kong companies may have unlimited number of bank accounts worldwide. Unlike most offshore companies, Hong Kong companies are rarely rejected when applying to a bank to open a bank account
  • Hong Kong banks are likely to be quite satisfied, if you provide details of the company shareholders only, not the ultimate beneficial owners
  • Shelf or ready-made companies incorporated in Hong Kong can be made available to you within a few hours to start your business or open an account without delay
  • English is an official language, alongside with Chinese, so the documents for your company will be officially issued both in Chinese, and English

Hong Kong Incorporation in A NUTSHELL

General information

Company Hong Kong

The most suitable type of company for carrying out international trade is the private company limited by shares. The regulating law is the Companies Ordinance, 2014.

HK companies may engage in virtually any legal business, but must obtain licences for some regulated activities including banking and insurance activities, money lending, or investment advisory.

Hong Kong companies must maintain a registered office within Hong Kong and must also appoint a secretary resident in Hong Kong.

Upon issue of the certificate of incorporation by the Companies Registry, the company must obtain a Business Registration Certificate from the Inland Revenue Department.

It should be noted that the Certificate of Incorporation, the annual Business Registration Certificate and the corporate seal of each company should be kept in the Hong Kong registered office.

Shareholders

Fromation Company

Hong Kong companies may have one or more shareholders (whether individual or corporate, resident in Hong Kong or not). The sole shareholder may be appointed as the company director. Details of shareholders are provided to the local agent and filed with the public register (nominee shareholders can be used for anonymity purposes). Bearer shares are not allowed.

Ultimate beneficial owners are not required to be disclosed to the authorities, though the details of the beneficial owners (they are called significant controllers) must be provided to, and kept by, the local registered agent. This requirement of maintaining a beneficial owners register is a new one and was introduced with a view to meet the purposes of the EU’s 4th Anti-Money Laundering Directive enacted in 2015.

However, it should be noted that the register of beneficial owners is not public, and the information can be disclosed only to the laws enforcement officers and only upon their legal and duly made demand.

Directors

The minimum number of directors is one. Directors may be either natural persons or companies, resident or not, but at least one director must be individual. Again, names and addresses of directors are filed with the register of directors which is public. Besides, Hong Kong companies must also appoint a secretary resident in Hong Kong (either individual or corporate).

Annual reports

Each year the Hong Kong company must prepare and file with the Companies Registry an annual return which gives details of the current directors and shareholders who have held shares in the company at any time during the year. Annual return must be filed within 42 days following the date of any annual general meeting. The companies may be stricken off from the Register for a failure to comply with this requirement.

In addition, every company must annually prepare and submit its audited accounts to the Inland Revenue Department (accounts must be audited by a locally qualified auditor). The filed accounting statements are not open to public. This requirement is obligatory, irrespective of whether or not the company had any dealings. In such case, a “negative tax-return” must be prepared which does not need to be certified by an auditor. In case of non-compliance, the Inland Revenue Department may take criminal court proceedings against the company.

Accounting records of all business operations must be maintained by the company in English or Chinese, in hard copy or electronically. Such records must be kept for at least 7 years following the end of any relevant financial year and include invoices, cheques, bank statements, contracts, other source documents. Losses can be carried forward without restriction.

Every year each company must pay a business registration fee of approximately USD 350 which is due by the 15th day of the next month from the company’s date of incorporation. If payment is not made within 3-4 months, penalties will apply.

Taxation of Hong Kong companies

Hong Kong

There are three main direct taxes in Hong Kong: income tax, salaries tax and property tax. Hong Kong does not impose any payroll, turnover, sales, value-added or capital gains taxes.

However, taxation is territorial, thus, the income tax is levied only on the profits derived from a trade, profession, or business carried on in Hong Kong, i.e. the principle of Hong Kong profits tax is based on the source of income rather than on tax residency (“operations test” is applied for determining the source of income). Income sourced elsewhere, even remitted to Hong Kong, is not subject to Hong Kong income tax. The currently applicable income tax rate amounts to 16.5% at the moment.

Hong Kong companies make two profits tax payments during the tax year. The first payment consists of 75% of the provisional tax for the current year plus 100% of the final payment for the preceding year. The second payment equals 25% of the provisional tax for the current year. The timing of payments is determined by assessment notices, sent generally during November to April of the tax year.

Tax returns

Tax returns are issued to taxpayers by the Inland Revenue Departments on 1 April, the day after the tax year ending on 31 March. Generally, a tax return should be completed and returned within one month of issue accompanied by relevant audited financial statements.

General Information

Total area 1.104 sq.km
Population 7.182.724 (2013)
Capital No
Unemployment 3.2% (2012)
Corruption perceptions index rank 14 (2012)
Government type limited democracy
Executive branch Executive Council headed by Chief Executive of HK
Legislative branch unicameral Legislative Council (60 members), elected for 4 years
Judicial branch High Court of Appeal, High Court (includes the Court of Appeal and the Court of First Instance), the District Court (includes the Family Court) and special courts
GDP per capita rank 26 (2012)

Corporate Info

Shelf companies permitted No
Legal system based on English Common Law
Incorporation timescale for a turnkey company 7 days
Cyrillic alphabet permitted in company name No
Local registered office Yes
Types of entity private company limited by shares; public company limited by shares; public unlimited company with a share capital; private unlimited company with a share capital; company limited by guarantee without a share capital; partnership; limited partnership; sole proprietorship; branch; representative office; trust
Incorporation timescale for a new company 4 days
Company suffix Limited
Sensitive words Department, Government, Commission, Bureau, Federation, Council, Authority; Bank, Stock Exchange, Unified Exchange; Assurance, Insurance, Re-insurance; Certified Public Accountant (C.P.A.), Public Accountant (P.A.); Building Society, Chamber of Commerce, Cooperative, Kaifong, Mass Transit, Municipal, Savings, Tourist Association, Trust, Trustee, Underground Railway; words, usage of which is considered crime or contradicts social inetersts in any way

Shares and share capital

Minimum authorized share capital No requirements
Minimum issued share capital 1
Minimum paid share capital 1
Authorized capital payment deadlines No requirements
Bearer shares permitted No
Issued capital payment deadlines Immediately upon issue or within time specified in the relevant resolution
Standard currency Hong Kong Dollar
Standard authorized share capital 10000
Standard par value of shares 1
Shares with no par value permitted No

Taxes

Min. rate for corporate tax 16.5%
Capital gains tax No
VAT No
Withholding tax Dividend and ineterst: no; royalty: yes
Exchange control No
Personal tax 15%
Corporate tax (in detail) Corporate tax is levied on profit obtained from sources in Hong Kong at rate of 16.15%. If company did non run business in HK and obtain profit from income in HK, its profit is not taxable.
Other taxes Capital duty, Real property tax, Social security contribution
Government fee No
Stamp duty Yes

Accounts

Requirement to file accounts Yes
Publicly accessible accounts No
Audit required Yes
Requirement to file Annual Return Yes
Publicly accessible Annual Return Yes
Requirement to prepare accounts Yes
Double tax treaties network 29
Tax Exchange Information Agreement network 6
OECD member No

International law relations

Party to the Hague Convention (Apostille) Yes
Legal system based on English Common Law
Double tax treaties network 29
OECD member No
Offshore/onshore status according to the RF laws Yes

Company formation in the UAE

UAE company incorporation packages

Advantages for life

  • High level of life comfort, access to excellent infrastructure and service industry.
  • Developed healthcare system.
  • Access to international education system: educational institutions of English-speaking and other countries of the world have their schools and universities in the UAE.
  • High level of security.

How to incorporate an onshore company in the UAE?

You can select the most appropriate package below and create a new onshore company using our services.

Sharjah Media City Free Zone company registration packages

Services GOLD
5900 USD
PLATINUM
9800 USD
Incorporation ✔︎ ✔︎
Original documents ✔︎ ✔︎
Company stamp ✔︎ ✔︎
1 License ✔︎ ✔︎
Flexi-Desk office lease ✔︎ ✔︎
E-channel deposit ✔︎ ✔︎
Resident visa (1 person), including:
– ALL government fees
– Documents preparation
– Execution and submission of application
– Personal meeting support services
  ✔︎
Total cost 5900 USD 9800 USD
Annual renewal fee 5800 USD 9700 USD

Umm Al Quwain Free Trade Zone (UAQ FTZ) company registration packages

Services GOLD
5600 USD
PLATINUM
9500 USD
Incorporation ✔︎ ✔︎
Original documents ✔︎ ✔︎
Company stamp ✔︎ ✔︎
1 License ✔︎ ✔︎
Flexi-Desk office lease ✔︎ ✔︎
E-channel deposit ✔︎ ✔︎
Resident visa (1 person), including:
– ALL government fees
– Documents preparation
– Execution and submission of application
– Personal meeting support services
  ✔︎
Total cost 5600 USD 9500 USD
Annual renewal fee 5500 USD 9400 USD

Hamriyah Free Zone company registration packages

Services GOLD
4910 USD
PLATINUM
7810 USD
Incorporation ✔︎ ✔︎
Original documents ✔︎ ✔︎
Company stamp ✔︎ ✔︎
1 License ✔︎ ✔︎
Flexi-Desk office lease ✔︎ ✔︎
E-channel deposit ✔︎ ✔︎
Resident visa (1 person), including:
– ALL government fees
– Documents preparation
– Execution and submission of application
– Personal meeting support services
  ✔︎
Total cost 4910 USD 7810 USD
Annual renewal fee 4570 USD 7470 USD

Ajman Free Zone company registration packages

Services GOLD
5270 USD
PLATINUM
9170 USD
Incorporation ✔︎ ✔︎
Original documents ✔︎ ✔︎
Company stamp ✔︎ ✔︎
1 License ✔︎ ✔︎
Flexi-Desk office lease ✔︎ ✔︎
E-channel deposit ✔︎ ✔︎
Resident visa (1 person), including:
– ALL government fees
– Documents preparation
– Execution and submission of application
– Personal meeting support services
  ✔︎
Total cost 5270 USD 9170 USD
Annual renewal fee 5270 USD 9170 USD

How to incorporate an offshore company in the UAE?

You can select the most appropriate package below and create a new offshore company using our services.

Ajman (AFZA) offshore company registration packages

Services GOLD
3500 USD
PLATINUM
3880 USD
Company registration including government fees ✔︎ ✔︎
Registered address for 1 year ✔︎ ✔︎
Company seal ✔︎ ✔︎
Provision of professional director for 1 year   ✔︎
Total cost 3500 USD 3880 USD
Annual renewal fee 3100 USD 3480 USD

Ras Al Khaimah (RAK) offshore company registration packages

Services GOLD
2500 USD
PLATINUM
2880 USD
Company registration including government fees ✔︎ ✔︎
Registered address for 1 year ✔︎ ✔︎
Company seal ✔︎ ✔︎
Provision of professional director for 1 year   ✔︎
Total cost 2500 USD 2880 USD
Annual renewal fee 2750 USD 3130 USD

Free Consultation

Why open a company in the UAE?

Main advantages of doing business in the UAE:

  • No tax on profit, dividends, interest, repatriation or other income.
  • High degree of confidentiality: there is no public register of companies.
  • Quite stable banking system and high probability of opening an account with banks of the UAE.
  • Possibility to work with US dollars.
  • Quick company incorporation (about 10 workdays).
  • No foreign exchange controls.
  • The UAE has double taxation treaties with over 100 countries.
  • Possibility to create substance in the country of incorporation.
  • Possibility to obtain a resident visa for company’s shareholders and employees, and their families.
  • The UAE acts as a regional harbor for business of the Middle East and North Africa, which ensures access to the markets of countries of the region.
UAE, Dubai Marina

Advantages of setting up a company in the UAE with us:

  • Our company has its own office in the UAE: we work directly, without intermediaries. We assist in and control the whole process of incorporation of a company from start to finish.
  • The cost of the service package includes full support at the location, including transport, accompanying to medical examinations, interpretation services (if required), any interaction with state authorities and banks. All this is included in the stated cost; there are no hidden fees.
  • We provide a complex of company incorporation services: we have our own auditors and tax consultants, and we do not involve third-party specialists. We also advise, register and file reports regarding VAT.
  • As for opening bank accounts, we have over 20 years of experience in working with foreign banks, a large number of contacts and relevant experience in opening accounts throughout the world. Our consultants will help you choose a bank in the UAE as well as other countries.

Onshore company registration in the UAE

Onshore companies are companies that are registered in free zones. Currently, there are around 50 such zones in the UAE and their number is constantly growing.

Activity of companies incorporated in free zones is regulated both by the federal legislation and by laws of those zones. 

In order to make international transactions and conduct business such companies need a license, which is obtained upon incorporation. An office is also required.

Onshore companies may only conduct their business in the territory of their free zone or outside the UAE.

Resident visas may be obtained for onshore companies’ shareholders, employees and their family members.

Each free zone has its requirements as to the number of shareholders and directors, having a secretary, amount of the authorized capital, accounts, audit and other conditions.

The following types of companies may be incorporated in a free zone:

  • Free Zone Establishment (limited liability company with one shareholder);
  • Free Zone Company (limited liability company with two or more shareholders);
  • Branch or representative office of a foreign company or other UAE freezone company.

Offshore company registration in the UAE

Activity of offshore companies is regulated by the federal legislation and legislation of respective emirates and free zones regarding such companies.

Incorporation of such a company does not require participation of local partners as shareholders.

An offshore company may not conduct business in the territory of the UAE, but their activity outside the country is not restricted. 

Visas may not be obtained for directors and employees of an offshore company, unlike onshore companies.

Offshore companies may own real estate in the territory of the UAE.

Such companies are completely exempt from taxes, and provisions of double taxation treaties do not apply to them.

Audit and accounting

All onshore companies must keep accounting records that are sufficient to prove their financial position and that show up-to-date information on the company’s assets and liabilities. Moreover, directors of the company must prepare its financial statements for each reporting date. However, there is no obligation to file financial statements with state authorities. Most free zones require filing of audited financial statements, but there are some zones where there is no obligation to file financial statements at all.

Requirements regarding audit are set in each free zone.

The first reporting period of a company starts at its incorporation and lasts at least 6 and at most 18 months. Each subsequent reporting period lasts exactly 12 months starting from the date when the previous period ends.

An offshore company has no obligation to file accounts with any state authorities in the territory of the UAE, but under the law a company during 10 years must keep documents on its business activity to the extent that allows its directors to determine financial position of the company. And like in onshore companies, directors of offshore companies must annually prepare financial statements and provide the company’s shareholders with them.

Disclosure of Information

Today, there are no public registers in the UAE: information on shareholders, directors and beneficiaries of both onshore and offshore companies may only be obtained at the request of a local court.

Taxation of UAE companies

The tax system of the UAE is very different from generally accepted international standards. Tax burden as such does not exist for companies or individuals. There is no federal legislation on income tax.

Some emirates have their own (local) income tax acts. However, they do not apply in practice, except for certain activities: banking and oil industry.

There is no personal income tax.

Companies incorporated in the UAE are exempt from profit tax, capital gains tax, property tax and other taxes. The exception is VAT.

Value-Added Tax (VAT)

Value added tax was introduced in the country on 1 January 2018. In order to administer VAT, the Federal Tax Authority was established.

VAT, as a general consumption tax, applies to all transactions with goods and services unless such transaction is exempt or taxed at the rate of 0%.

The standard VAT rate is 5%.

An obligation to register for VAT purposes arises when the turnover in the territory of the country exceeds 375,000 AED (~100,000 USD).

Registering as a VAT payer is compulsory in the following cases:

  • there is reason to believe that during the following 30 days taxable turnover will exceed the registration threshold (for example, a contract is entered into);
  • at the end of the month taxable turnover for the preceding 12 months actually exceeded the registration threshold;
  • the company receives services that are subject to inclusion in accounts under the reverse charge and that are worth over the registration threshold.

Voluntary registration is also possible after the taxable transactions threshold of 187,500 AED (~ 50,000 USD) has been exceeded.

After the registration with the Federal Tax Authority and obtaining a VAT payer number, a company must quarterly (and if its annual turnover exceeds 150,000,000 AED ~ 40,830,900 USD, then monthly) prepare and file a VAT return, and pay arising VAT within 28 days after the end of the VAT period.

Double Taxation Treaties

Today, the UAE has tax agreements with 106 jurisdictions.

Among them are 99 Double Tax Conventions (DTC) and 8 Tax Information Exchange Agreements (TIEA) and the Convention on Mutual Administrative Assistance in Tax Matters (MAC). Below you can find a list of all countries with which agreements have been entered into.

The UAE signed the MAC on 21 April 2017, deposited its instrument of ratification on 21 May 2018, and the MAC entered into force on 1 September 2018.

Obtaining a visa in the UAE

In the UAE there is no such thing as residence permit. Its analogue is a resident visa. 

A resident visa may be obtained on the following grounds:

  • investor’s visa – owning an onshore company incorporated in the UAE (issued for 3 years);
  • work visa – entering into an employment contract with an onshore company incorporated in the UAE (issued for 2 years).
  • Owning real estate

A visa may only be obtained after the company has been incorporated.

First of all an Establishment Card is obtained (the migration file of the company is opened). On average, it takes 10 workdays. This document is necessary to enable the company to apply for resident visas in the future.

Then documents for a resident visa are submitted and an Entry Permit is obtained. It takes 1-2 weeks. To obtain a resident visa it is necessary to enter the UAE on an Entry Permit.

Then it is necessary to visit the UAE to obtain a resident visa – in most cases a visa may be obtained within 5 workdays. During that visit it is necessary to undergo medical examinations (blood test and fluorography) and give biometric data (retina scan and fingerprints).

Once the passport with a resident visa in it is received, the country may be left.

The last step is obtaining a resident’s Emirates ID. The card is issued a few days after the issue of the visa. Personal presence is not required to receive it.

Permanent residency in the UAE is not required; however, a resident visa will be cancelled if the person who obtained it is absent from the UAE for over 6 months.

Opening a bank account in the UAE

The UAE banking system is stable and the probability of opening an account is high.

Most banks offers quite a wide range of financial services, including letters of credit, credit cards, low-interest loans for legal entities and individuals, asset management products, attractive interest rates on deposits (in case of depositing significant amounts) and others.

All banks also grant convenient and effective access to accounts through online banking (normally, it works in English).

Another advantage is that the UAE has no foreign exchange controls.

An account with banks of the UAE may be opened by:

  • onshore and offshore companies incorporated in the UAE;
  • companies incorporated outside the UAE (in certain banks and subject to certain conditions);
  • individuals resident in the UAE;
  • individuals non-resident in the UAE (if such persons own immovable property in the territory of the UAE
UAE, Abu Dhabi Company Formation

Free Consultation

 

General information

Total area 83.600 sq. km
Population 9.771.000 (2019)
Capital Abu Dhabi
Unemployment 2,57% (2018)
Corruption perceptions index rank 21 (2018)
Government type Combination of republic and monarchy
Executive branch Cabinet headed by Prime Minister
Legislative branch Unicameral Federal national council
Judicial branch Union Supreme Court
GDP per capita rank 25 (2018)

Shares and share capital

Minimum authorized share capital 0-1.000 AED (offshore company), 10.000-300.000 AED (FTZ)
Minimum issued share capital N/A
Minimum paid share capital 0-1.000 AED (offshore company), 10.000-300.000 AED (FTZ)
Authorized capital payment deadlines N/A
Bearer shares permitted No
Issued capital payment deadlines N/A
Standard currency AED
Standard authorized share capital 10.000 AED
Standard par value of shares 1.000 AED
Shares with no par value permitted No

Taxes

Min. rate for corporate tax No
Capital gains tax No
VAT 5%
Withholding tax No
Exchange control No
Personal tax No
Corporate tax (in detail)
Capital gains tax. Details
VAT. Details Introduced in 2018 at the rate of 5%
Other taxes real property tax, municipal duties
Government fee No
Stamp duty No

Accounts

Requirement to file accounts No
Publicly accessible accounts No
Audit required No
Requirement to file Annual Return No
Publicly accessible Annual Return No
Requirement to prepare accounts Yes
Double tax treaties network 99
Tax Exchange Information Agreement network 8
OECD member No

International law relations

Party to the Hague Convention (Apostille) No
Legal system mixed legal system of Islamic law and civil law
Double tax treaties network 99
OECD member No
Offshore/onshore status according to the RF laws Yes

Tax treaties entered

Double Tax Convention (DTC) Albania, Algeria, Andorra, Armenia, Austria, Azerbaijan, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bosnia and Herzegovina, Brunei Darussalam, Burundi, Canada, China, Comoros, Cyprus, Czech Republic, Ecuador, Egypt, Equatorial Guinea, Estonia, Ethiopia, Fiji, Finland, Former Yugoslav Republic of Macedonia, France, Georgia, Germany, Greece, Guinea, Hong Kong (China), Hungary, India, Indonesia, Ireland, Italy, Japan, Jersey, Jordan, Kazakhstan, Kenya, Korea (Republic of), Kosovo, Kyrgyzstan, Latvia, Lebanon, Libya, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Mauritania, Mauritius, Mexico, Mongolia, Montenegro, Morocco, Mozambique, Netherlands, New Zealand, Nigeria, Pakistan, Panama, Paraguay, Philippines, Poland, Portugal, Romania, Russian Federation, Saint Kitts and Nevis, Senegal, Serbia, Seychelles, Singapore, Slovakia, Slovenia, South Africa, Spain, Sri Lanka, Sudan, Switzerland, Syrian Arab Republic, Tajikistan, Thailand, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, United Kingdom, Uruguay, Uzbekistan, Venezuela, Viet nam, Yemen
Tax Exchange Information Agreement (TEIA) Argentina, Colombia, Denmark, Faroe Islands, Finland, Iceland, Norway, Sweden

Company formation in the UK

UK company incorporation is governed by the Companies Act 2006 (“the Act”), under which the following types of companies can be set up:

UK company incorporation packages

  • Private Company Limited By Shares
  • Private Company Limited By Guarantee
  • Private Unlimited Company
  • Public Limited Company (PLC)

and some other specific types of non-standard companies.

The most common structure used for international trading is a private company limited by shares. Such company may engage in virtually any legal business, but must obtain licenses for some regulated activities such as banking, insurance, money lending, or investment advice.

Statutory requirements

A private company must have a registered office in the UK – a physical location where notices, letters and reminders can be delivered to the company. A private company has no statutory obligation to appoint a secretary, but may choose to do it.

The Companies Act 2006 requires a private company to have at least one director. However, a company’s articles of association could impose a higher minimum requirement. At least one director must be an individual. A private company must have at least one shareholder, whether a natural person or a body corporate, resident or non-resident.

The minimum share capital for a UK private company is 1 share and there is no maximum share capital limit.

All the above information is public. It must be filed with Companies House and updated within specific time limits whenever any change occurs.

How to open an Ltd company in the UK?

You can select the most appropriate package below and create a new limited company using our services or buy one of our shelf companies.

UK limited liability partnership incorporation packages (LLP)

Services GOLD
1099 USD
PLATINUM
1300 USD
Company registration including government fees ✔︎ ✔︎
Registered address for 1 year ✔︎ ✔︎
Apostille ✔︎ ✔︎
Company seal ✔︎ ✔︎
Share certificate ✔︎ ✔︎
Courier services ✔︎ ✔︎
Nominee partners for 1 year   ✔︎
Total cost 1099 USD 1300 USD
Annual renewal fee 999 USD 1499 USD

UK company incorporation packages (LTD)

Services GOLD
999 USD
PLATINUM
1499 USD
Company registration including government fees ✔︎ ✔︎
Registered address for 1 year ✔︎ ✔︎
Apostille ✔︎ ✔︎
Company seal ✔︎ ✔︎
Share certificate ✔︎ ✔︎
Courier services ✔︎ ✔︎
Provision of professional shareholder for 1 year   ✔︎
Provision of professional director for 1 year   ✔︎
Total cost 1099 USD 1499 USD
Annual renewal fee 999 USD 1499 USD

Free Consultation

UK shelf companies

A “shelf company” is a company that has been registered by a formation agent in its own name in order to be transferred to a customer. That is a very convenient option that helps to save precious time without having to wait for your application to be processed by Companies House, which is very useful if you have a deadline or if you have no specific requirements concerning the name or founding documents of the company.
We have a number of ready made companies registered in the UK and other jurisdictions that you may purchase and start your business right away. To buy a UK shelf company, please contact us to get a list of companies in stock.
If you wish to purchase a shelf company or create a new company, then we will have to verify your identity and residential address to fulfil our anti-money laundering responsibilities. Shelf companies are created with our own secretary and directors. After the purchase, we will transfer the company’s shares from the existing Nominee shareholder to the new owner. Also, we will need to make necessary filings to update the public register with the details of the new shareholder.

Creation of a new UK company

If you have specific needs, you may set up your own individual limited company.
The main advantage of starting a new Ltd company is that you will have the ability to determine the structure of business that you need, with the name that you choose, and the provisions in the memorandum and articles of association that you want.

Why open a company in the UK?

Here are just a few reasons why businessmen and entrepreneurs may want to open a UK company for their international business:

  • reputable jurisdiction
  • stable tax system that avoids unnecessary changes to tax legislation
  • low corporation income tax rate compared to core European countries (the current rate is 19% and will be reduced to 17% in 2020)
  • exemption of dividends received from subsidiaries in most countries from corporation tax
  • exemption from capital gains tax for trading companies
  • no withholding tax on distributions from the holding company to its parent company or individual shareholders
  • no capital gains tax on profit arising from sale of shares in the holding company by non-resident shareholders
  • tax reliefs and incentives for early stage businesses
  • tax reliefs for research and development companies
  • extensive tax treaty network

Advantages of setting up a company in the UK with us:

Advantages of setting up a company in the UK with us:

Big Ben

You work directly with an AML-supervised trust and company service provider, and thus you get:

  • fast and efficient service, no unnecessary delays
  • best competitive prices – lower cost of UK company incorporation and subsequent annual fees
  • highest level of confidentiality and personal data protection – any information and documents provided for incorporation are kept in our files only
  • immediate status updates on your orders – we do not have to contact any other person to find out the information
  • professional service – we are a group of companies with more than 20 years of experience in the company formation industry
  • comprehensive, all-in-one service – with 187 employees working in our 6 offices worldwide (including the UK) not only do you get company formation or corporate services in the UK, but also legal support, tax planning advice, bookkeeping, preparation and filing of financial statements, translation and other international business services
  • we always have ready-made companies for sale in the UK
  • UK company formation for non-residents

The UK does not impose restrictions on foreign ownership or management of companies. It is therefore possible to open a company in the UK for a non-resident. You will not even be required to visit the UK to incorporate your company and can do it from the country you live in.
What a UK company registration for a non-resident will require is the assistance of an experienced local service provider. We offer company formations in London and our team, skilled in company formation, international taxation, accounting and immigration services, will be glad to guide you through the process and requirements. 

Offshore company registration in the UK

De jure and de facto the United Kingdom is not an offshore zone. Nevertheless, that jurisdiction provides convenient instruments of corporate and tax planning. That’s why a UK company formation may be beneficial from a tax point of view. In this regard, the UK is often referred to as a European offshore.

Subsequent Administration
After incorporation, the UK company shall have to keep accounts and annually submit financial statements, tax returns and confirmation statements to Companies House. Companies – payers of VAT shall also file separate VAT Returns.
Confirmation Statement
Every UK company shall deliver a Confirmation Statement to Companies House at least once a year even if the company is dormant. That document replaced the familiar Annual Return in June 2016. Instead of completing the data, as was the case with the Annual Return, the company now needs to check and confirm that the following information Companies House has about it is correct:

If the Confirmation Statement is not delivered on time, the Registrar may assume that the company is no longer in operation and may take steps to strike it off the register. It is also a criminal offence for which the company and its officers may be prosecuted.

Annual Accounts/Financial Statements
Every company, whether or not they are trading, shall keep accounting records and prepare annual accounts reflecting the company’s state and operating result for the given year. After incorporation, a date for the company’s end of financial year will be determined. It will be the last day in the month of the company’s incorporation.
The first accounts should be submitted within 21 months from the date of registration with Companies House.  Subsequent accounts should be filed within 9 months after the end of each financial year.
Untimely submission of accounts may lead to high penalties. Failure to provide such documents is considered as a criminal offence. All the company’s directors may be prosecuted.

Tax return
After the end of its financial year, a private limited company shall prepare a Company Tax Return (CT600 form) and submit it within one year after the end of the accounting period for Corporation Tax. All corporation tax returns should now be filed with HM Revenue & Customs online. Under the self assessment regime the directors of the company are responsible for ensuring that the tax liability is calculated and any tax owing is paid on time.

Audit

UK bank account

The most of small companies are not obliged to perform an audit (except if the company has such requirement in its Articles of Association).
The company shall be exempt from an audit if it complies with at least two of the following criteria:

  • its annual turnover does not exceed £10.2 million
  • its assets worth no more than £5.1 million
  • it has 50 or fewer employees

Exchange of tax information
The United Kingdom has special bilateral Tax Information Exchange Agreements (TIEAs) with 25 countries and territories, predominantly with offshores.
Aside of that, the United Kingdom is a member of the OECD’s Convention on Mutual Administrative Assistance in Tax Matters of 1988 as well as the amending protocol of 2010.

Disclosure of Information

After incorporation, you will be obliged to disclose information. According to the Companies Act 2006 companies shall notify Companies House of all significant events, and namely:

  • change of directors or their personal details;
  • change of the registered office address;
  • information regarding the capital (statement of capital);
  • change of the main type of activity;
  • information regarding the shareholders (included in the register of the company’s members). Number of their shares, details of transfer of such shares;
  • information on the company’s decision to keep a PSC Register information on the public register;
  • information regarding the persons having significant control (PSC), if the company decided not to keep such information on the public register.

Register of people with significant control (PSC)
In March 2015, the Companies Act 2006 was amended by the Small Business, Enterprise and Employment Act, which introduced the register of people with significant control – PSC register. The new legislation required UK companies and LLPs to maintain PSC registers starting from 6 April 2016.
A person with significant control (PSC) of the company is an individual who meets one or more of the following conditions:

  • An individual who holds more than 25% of shares in the company;
  • An individual who holds more than 25% of voting rights in the company;
  • An individual who holds the right to appoint or remove the majority of the board of directors of the company;
  • An individual who has the right to exercise, or actually exercises, significant influence or control over the company;

The information entered on the register must first be confirmed by the PSC and then be filed with Companies House, where it is made public and is kept indefinitely. Such information includes:

  • Name;
  • Date of birth;
  • Nationality;
  • Country where the PSC usually lives;
  • Service address
  • Usual residential address (this must not be disclosed when making the register available for inspection or providing copies of the PSC register)
  • Date when the person became a PSC in relation to the company
  • Which of the above conditions the PSC meets. For conditions (1) and (2) this must include the level of their shares and voting rights:
  • Over 25% up to (and including) 50%,
  • More than 50% and less than 75%,
  • 75% or more;
  • Restrictions, if any, on disclosing the PSC`s information (whether an application has been made for the individual’s information to be protected from disclosure to the public).

Taxation of UK companies

After incorporation, a UK company shall have statutory tax obligations.
All companies, regardless of size, shall pay the same rate of corporation tax, which is 19%. It is proposed that this rate will fall to 17% starting from the 1st of April 2020.
Dividends (and distributed profit) paid by a company are typically exempt from taxes.
Interest: Interest paid to a non-resident is subject to withholding tax at a 20% rate, unless the rate is reduced pursuant to a tax treaty or the interest is exempt under the EU Interest & Royalties Directive. Reduction under a tax treaty is not automatic and advance clearance must be granted by HMRC.
License payments (Royalties): Royalties paid to a non-resident are subject to withholding tax at a 20% rate, unless the rate is reduced pursuant to a tax treaty or the royalties are exempt under the EU Interest & Royalties Directive. Advance clearance is not required to apply a reduced treaty rate.
There are highly competitive benefits and reliefs for innovative and high-tech industries and businesses dealing with intellectual property, such as tax deductions for qualifying R&D expenditures, lower rate of Corporation Tax to profits earned from patented inventions and certain other innovations (Patent Box) etc.
However, in view of Brexit taking place on the 29th March 2019 we recommend to get updated information on taxes because if the UK leaves the EU without a deal, the way that interest, royalties and dividends are paid between UK and EU companies may change.

Value-Added Tax (VAT)

VAT in the United Kingdom is levied in accordance with the Value Added Tax Act 1994 and  COUNCIL DIRECTIVE 2006/112/EC of 28 November 2006 “On the common system of value added tax”.

VAT is applied to most of import transactions, sales of goods and provision of services. The standard rate is 20%. Some types of goods are taxed at the rate of 5% or are exempt from VAT.
To work with VAT you need to register with HMRC. 
VAT registration is mandatory if:

  • your VAT taxable turnover is more than £85,000 over the last 12 months, or
  • you realize that your total VAT taxable turnover is going to be more than £85,000 in the next 30-day period.
  • Your company purchases goods for more than £85,000 from EU VAT-registered suppliers, or
  • If neither you nor your business is based in the UK, then you must register as soon as you supply any goods and services to the UK (or if you expect to in the next 30 days).

You can register voluntarily if your business turnover is below £85,000. You must pay HMRC any VAT you owe from the date they register you.

Double Taxation Treaties

The United Kingdom has agreements for avoidance of double taxation with more than 100 countries. Despite that, you will not be able to use such agreements if the UK company is nominal, i.e. if it is an agent of another company in a tax-free jurisdiction that receives the most of income. Thus, there is no point in UK company creation only for the sake of application of a tax treaty.
It is also necessary to have economic substance in the territory of the United Kingdom, i.e. to have a real office and manage the company’s affairs from the territory of the UK etc. The company may use international tax agreements only if the income is considered as the income of the UK company. It is not possible to use tax agreements if the company files so-called “dormant accounts”.

Opening a bank account in the UK for a non-resident

Opening a UK company together with a banking solution is not an easy task because nowadays banks have to fulfill a large number of requirements and formalities. Account opening procedure is the same for practically all banks in the sense that you will have to submit personal and company data, alongside with a detailed description of your business, and the bank will consider these and decide if an account can be opened. Some banks will go as far as holding a personal interview with a beneficial owner and/or director of the company as part of their account opening requirements.
Some people may have a misconception that bank account opening is confined to the jurisdiction of incorporation. However, this is not always the case.   
You don’t have to be a UK resident to open a UK business bank account and your company may open accounts with any bank worldwide. For instance, you may set up a company in London, but open an account for it in Cyprus, Hong Kong or any other jurisdiction.
We can assist with a UK company formation for a non-resident with a bank account. Depending on the type of your business, we can recommend you the most convenient bank, and then guide you through the account opening process.
Feel free to contact us for a free consultation!

Free Consultation

General information

Total area 243.809 sq. km
Population 63.395.574 (2013)
Capital London
Unemployment 7.1% (2013)
Corruption perceptions index rank 14 (2013)
Government type Constitutional monarchy
Executive branch Cabinet headed by Prime Minister
Legislative branch bicameral Parliament (House of Commons and House of Lords)
Judicial branch High court, Crown Court and Court of Appeal
GDP per capita rank 24 (2013)

Shares and share capital

Minimum authorized share capital N/A
Minimum issued share capital N/A
Minimum paid share capital N/A
Authorized capital payment deadlines N/A
Bearer shares permitted No
Issued capital payment deadlines N/A
Standard currency British pound
Standard authorized share capital N/A
Standard par value of shares N/A
Shares with no par value permitted No

Taxes

Min. rate for corporate tax 19%
Capital gains tax 21%
VAT 20%
Withholding tax 20%
Exchange control No
Personal tax 45%
Corporate tax (in detail) Main rate – 19%
Capital gains tax. Details Capital gains form part of a company’s taxable profits.
VAT. Details There are three rates of VAT, depending on the goods or services the business provides. The rates are: standard – 20%, reduced – 5%, zero – 0%. There are also some goods and services that are exempt from VAT or outside the UK VAT system altogether.
Other taxes Real property tax; Inheritance tax; National Insurance Conrtributions
Government fee 40 pounds
Stamp duty 0.5%

Accounts

Requirement to file accounts Yes
Publicly accessible accounts Yes
Audit required No
Requirement to file Annual Return Yes
Publicly accessible Annual Return Yes
Requirement to prepare accounts Yes
Double tax treaties network 129
Tax Exchange Information Agreement network 26
OECD member Yes

International law relations

Party to the Hague Convention (Apostille) Yes
Legal system common law
Double tax treaties network 129
OECD member Yes
Offshore/onshore status according to the RF laws No

Tax treaties entered

Tax treaties entered Albania, Algeria, Argentina, Armenia, Australia, Austria, Azerbaijan, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Bolivia, Bosnia and Herzegovina, Botswana, Brunei Darussalam, Bulgaria, Canada, Cayman Islands, Chile, China, Colombia, Croatia, Cyprus, Czech Republic, Côte d’Ivoire, Denmark, Egypt, Estonia, Ethiopia, Falkland Islands (Malvinas), Faroe Islands, Fiji, Finland, Former Yugoslav Republic of Macedonia, France, Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guernsey, Guyana, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, Jordan, Kazakhstan, Kenya, Kiribati, Korea (Republic of), Kosovo, Kuwait, Latvia, Lesotho, Libya, Liechtenstein, Lithuania, Luxembourg, Malawi, Malaysia, Malta, Mauritius, Mexico, Moldova (Republic of), Mongolia, Montenegro, Montserrat, Morocco, Myanmar, Namibia, Netherlands, New Zealand, Nigeria, Norway, Oman, Pakistan, Panama, Papua New Guinea, Philippines, Poland, Portugal, Qatar, Romania, Russian Federation, Saudi Arabia, Senegal, Serbia, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, South Africa, Spain, Sri Lanka, Sudan, Swaziland, Sweden, Switzerland, Tajikistan, Thailand, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Tuvalu, Uganda, Ukraine, United Arab Emirates, United States, Uruguay, Uzbekistan, Venezuela, Viet nam, Zambia, Zimbabwe
Tax Exchange Information Agreement (TEIA) Anguilla, Antigua and Barbuda, Aruba, Bahamas, Belize, Bermuda, Brazil, Curaçao, Dominica, Gibraltar, Grenada, Guernsey, Isle of Man, Jersey, Liberia, Liechtenstein, Macao (China), Marshall Islands, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, San Marino, Sint Maarten, Turks and Caicos Islands, Uruguay, Virgin Islands, British

Cyprus company formation

Cyprus company incorporation package

Services GOLD
1680 EUR
PLATINUM
2055 EUR
Company registration including government fees ✔︎ ✔︎
Registered address for 1 year ✔︎ ✔︎
Apostille ✔︎ ✔︎
Company seal ✔︎ ✔︎
Share certificate ✔︎ ✔︎
Courier services ✔︎ ✔︎
Provision of professional shareholder for 1 year   ✔︎
Provision of professional director for 1 year   ✔︎
Total cost 1680 EUR 2055 EUR
Annual renewal fee 1020 EUR 2020 EUR

Advantages of setting up a company in Cyprus with us:

You work directly with a licensed Cyprus Administrative Service Provider (ASP), and thus you get:

  • fast and efficient service, no unnecessary delays
  • best competitive prices – lower cost of incorporation and subsequent annual fees
  • highest level of confidentiality and personal data protection – any information and documents provided for incorporation are kept in our files only
  • immediate status updates on your orders – we do not have to contact any other person to find out the information
  • professional service – we are a group of companies with more than 20 years of experience in the company formation industry
  • comprehensive, all-in-one service – with 187 employees working in our 6 offices worldwide (including Cyprus) not only do you get company formation or corporate services in Cyprus, but also legal support, tax planning advice, bookkeeping, preparation and filing of financial statements, translation and other international business services
 

Why open a company in Cyprus?

Here are just a few reasons why businessmen and entrepreneurs may want to open a Cyprus company for their international business:

  • Reputable jurisdiction, member of the European Union
  • Clear corporate law and stable tax policy
  • One of the lowest corporate tax rates in the EU – 12.5%
  • Extensive network of double tax treaties
  • No legal restrictions on the residence of people who own (shareholders) or manage (directors) a Cyprus company
  • No minimum share capital: a Cyprus company can only issue and pay up one share
  • A Cyprus company may have an unlimited number of bank accounts worldwide. Unlike most offshore companies, Cyprus companies are rarely rejected by banks when applying for a bank account
  • You can buy a Cyprus shelf company when you do not have time to register a new company in Cyprus. Paperwork can be completed in just a few hours, subject to approval from compliance department
  • Mergers and acquisitions: Cyprus companies are allowed to merge with Cyprus or foreign companies, and the surviving company may be located either in Cyprus or in a foreign country
  • Redomiciliation: Cyprus companies can continue in another jurisdiction which allows re-domiciliation

Cyprus Private Limited Company

Although Cyprus offers a variety of business organization forms, such as several types of companies and partnerships, as well as branches and even trusts, still the most popular entity to create for business is a Cyprus private company limited by shares, or simply Cyprus Ltd. This type of company is sometimes referred to as LLC.

Cyprus companies may engage in virtually any legal business, but must obtain licences for some regulated activities such as banking, insurance, money lending, or investment advice.

Company Officers

A Cyprus company must have a registered office within Cyprus and appoint a secretary, an individual or a company, resident or non-resident. The minimum number of directors and shareholders in a Cyprus private company is one, and there are no legal restrictions as to their nationality or residence, they can also be either individuals or companies. It should be noted, however, that for a company to be treated as Cyprus tax resident and be able to enjoy all the tax benefits, it is advisable to have a Cypriot majority board – thus you can demonstrate that a company is managed and controlled from Cyprus.

What Information is Public?

The details of directors and shareholders are filed with the Registrar of Companies and are made public. The details of beneficial owners are necessarily collected by every ASP as part of their due diligence and KYC obligations, but are not filed with the Registrar of Companies and do not appear on any public register.

The EU 4th Anti-Money Laundering Directive introduced a requirement for the EU Members States to create a register of beneficial ownership of companies, which in the understanding of the European Commission should be publicly accessible. The 5th Anti-Money Laundering Directive further set a specific deadline for putting such register in place throughout the EU. Member States should set up beneficial ownership registers for corporate and other legal entities by 10 January 2020 and for trusts and similar legal arrangements by 10 March 2020. But so far Cyprus has not implemented the provisions of these Directives into its national legislation and has no public register of beneficial owners.

Annual Renewal

After you set up a company in Cyprus, it should be renewed on an annual basis. The company must pay the Annual Levy of EUR 350 (with penalties added in the case of late payment) and submit the Annual Return, which is a form containing the details of all directors, shareholders, registered office and share capital.

 

Financial Statements

A Cyprus company must annually prepare audited financial statements and submit them to the tax authorities. Audit is required even for dormant companies (companies that have not had any business transactions in the financial year).

Offshore vs. Resident

Cyprus used to distinguish between domestic (onshore) and offshore companies, where offshore companies were not allowed to trade inside Cyprus but enjoyed a beneficial tax regime. The distinction was abolished from 1 January 2003 in the run-up to the country’s accession to the EU and was replaced by a residence-based system of taxation. Now a uniform corporate tax rate (currently 12.5%) applies to all companies that are Cyprus tax residents. A Cyprus company is considered to be a tax resident if managed and controlled from Cyprus and a non-resident if managed and controlled outside Cyprus. Therefore when the expression “a Cyprus offshore company” is used now, it means a Cyprus non-resident company that is not subject to tax in Cyprus.

Banking in Cyprus

Shell Companies

A Cyprus bank account has traditionally been an obvious solution for business banking: no minimum balance, reasonable bank fees, and very few restrictions on the jurisdictions and activities Cyprus banks accepted. Needless to say, companies registered in the “classic” offshore territories such as the BVI, Belize or Seychelles would often have a Cyprus bank account.

Nowadays the banking industry in Cyprus and everywhere else is increasingly under pressure from international organizations to fight money laundering and help ensure transparency of business transactions. In May 2018 the Central Bank of Cyprus issued a circular introducing the concept of “shell companies”, later in November 2018 another circular was released to amend and revise the previous one.

A shell company is currently defined as an entity that:

  • has no physical presence or operations in its country of incorporation (other than a mailing address); and
  • has no established economic activity in its country of incorporation, little or no independent economic value and no documentary proof to the contrary.

Despite all that, the following circumstances could indicate economic activity:

  • the entity is established for the purpose of holding shares of another business entity/ies engaged in legitimate business with identifiable beneficial owners;
  • the entity is established for the purpose of holding intangible or other assets (including real estate, ship, aircraft, portfolio of investments, debt and financial instruments);
  • the entity is established to facilitate currency trades and asset transfers, corporate mergers as well as carrying out asset management activities and trading of shares;
  • the entity acts as a treasurer for companies recognised as a group or manages the activities of the group; or
  • any other case where convincing evidence can be provided that the entity is engaged in legitimate business, with identifiable ultimate beneficial owner(s).

Apparently, banks will review each case individually and there are no universal recipes to open or keep a bank account.

Substance

In the recent years the laws of many countries have been substantially amended in an effort to increase transparency of international business and close down on tax evasion and treaty shopping. Key offshore jurisdictions, such as BVI, Belize and Caymans, were particularly affected by the coming into force of the economic substance legislation. The scope of economic substance varies from jurisdiction to jurisdiction, but generally the requirement is that the company be physically present in the country of incorporation (have physical premises, hire staff, be managed and controlled from the jurisdiction etc).

Creating minimum substance in the country of the company’s incorporation will, on the hand, make it compliant with local laws and, on the other, increase its chances of opening or keeping a bank account. We provide legal and tax advice on restructuring your business to make it compliant and offer services of creating substance – both in the countries where we have offices and in others.

General Information

Total area 9.250 sq. km
Population 862.011 (2012)
Capital Nicosia
Unemployment 13.8% (2013)
Corruption perceptions index rank 29
Government type Presidential republic
Executive branch Council of Ministers appointed jointly by the President and Vice President
Legislative branch Unicameral parliament: House of Representatives (80 seats; 56 assigned to the Greek Cypriots, 24 to Turkish Cypriots, but only those assigned to Greek Cypriots are filled; members are elected by popular vote to serve five-year terms)
Judicial branch Supreme Court (judges are appointed jointly by the President and Vice President)
GDP per capita rank 37 (2012)

Corporate info

Shelf companies permitted Yes
Legal system based on English common law, with civil law modifications
Incorporation timescale for a turnkey company 10 to 30 working days
Cyrillic alphabet permitted in company name No
Local registered office Yes
Types of entity Private company limited by shares, Exempt private company, Public company limited by shares, Company limited by guarantee, Branch of overseas company, General partnership, Limited partnership, Sole Proprietorship, Trust
Incorporation timescale for a new company 15 to 25 working days (3 to 6 working days with payment of acceleration fee)
Company suffix Limited; Ltd.
Sensitive words Asset Management, Asset Manager, Assurance, Bank, Banking, Broker(s), Brokerage, Capital, Credit, Currency(ies), Custodian(s), Custody, Dealer(s), Dealing, Deposit(s), Derivative(s), Exchange, Fiduciary(ies), Finance, Financial, Fund(s), Future(s), Insurance, Lending, Loan(s), Lender(s), Option(s), Pension(s), Portfolio, Reserve, Savings, Security(ies), Stock, Trust, Trustees

Shares and share capital

Minimum authorized share capital No
Minimum issued share capital 1 share
Minimum paid share capital No requirements
Authorized capital payment deadlines No requirements
Bearer shares permitted No
Issued capital payment deadlines Immediately upon issue or according to the terms of issue specified in the relevant resolution
Standard currency EUR
Standard authorized share capital 1000
Standard par value of shares 1
Shares with no par value permitted No

Taxes

Min. rate for corporate tax 12.5%
Capital gains tax 0-20%
VAT 19%
Withholding tax dividends – 20%, interest – 30%, royalty – 10%
Exchange control No
Personal tax 35%
Corporate tax (in detail) 12.5%
Capital gains tax. Details Profits from buying and selling shares are exempt from tax. Furthermore, there is no capital gains tax except for the 20% capital gains tax applying on gains accruing from disposal of immovable property held in Cyprus and shares in non-listed companies, which own immovable property in Cyprus.
VAT. Details VAT is imposed on the sale of goods and provision of services, as well as on the importation of goods into Cyprus from outside EU. Cyprus VAT legislation provides for three rates: the standard rate 19% (effective as of 14 Jenuary 2014) and the reduced rates of 9% and 5%. VAT registration is compulsory where total sales of goods and/or services in Cyprus exceed EUR 15,600 in any period of 12 months.
Other taxes Special defence contribution tax, Immovable property tax, Social insurance contributions, Social Cohesion Fund contributions, Motor vehicle tax, Import and excise duties, Immovable property transfer fees
Government fee Yes, but exemptions apply
Stamp duty Yes

Accounts

Requirement to file accounts Yes
Publicly accessible accounts Yes
Audit required Yes
Requirement to file Annual Return Yes
Publicly accessible Annual Return Yes
Requirement to prepare accounts Yes
Double tax treaties network 61
OECD member No

International law relations

Party to the Hague Convention (Apostille) Yes
Legal system based on English common law, with civil law modifications
Double tax treaties network 61
OECD member No
Offshore/onshore status according to the RF laws Yes

Tax treaties

Tax treaties entered Armenia, Austria, Bahrain, Barbados, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Canada, China, Czech Republic, Denmark, Egypt, Estonia, Ethiopia, Finland, France, Georgia, Germany, Guernsey, Greece, Hungary, Iceland, India, Iran, Ireland, Italy, Jersey, Kuwait, Latvia, Lebanon, Lithuania, Luxembourg, Malta, Mauritius, Moldova, Montenegro, Norway, Poland, Portugal, Qatar, Romania, Russia, San Marino, Serbia, Seychelles, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Syria, Tajikistan, Thailand, Turkmenistan, Ukraine, United Arab Emirates, United Kingdom, USA

Offshore Company Formation in Seychelles

The advantage of an “off-the-shelf” company is a much lower time frame required for its registration, as it is, normally, ready for use within one hour after the reception of the required information, documentation and payment from the client.

To begin the process of selecting the best package or choosing one of the ready-made companies from the list, please, contact us for a consultation and assessment. We can determine the best strategy for each client. Then, you should just fill out the forms and send us the necessary documents together with the information about the structure of your company (including directors and shareholders).

Once completed, you will receive a payment bill. It contains a detailed explanation of each option included in the package. After the order is paid, the client is either mailed finalized paper forms or proceeds to request a new bank account. The procedure is nearly identical for pre-made offshore company formation with the exception of faster availability to the client.

Why the Seychelles?

The Republic of Seychelles has long been recognised as a tourist paradise: many travelers from different countries arrive here to enjoy the golden sandy beaches, incredible sunsets and impeccable service. However, for more than 20 years this state, spread over 115 islands in the Indian Ocean, attracts not only people who wish to relax in luxury resorts, but also businesspeople who think of improving their companies. Why?

  1. Attractive jurisdiction and zero taxation
    One of the key elements of the economic activity in the Seychelles is the financial services sector with an offshore company formation industry being its main feature. The stability of jurisdiction, excellent reputation helped the Seychelles become one of the most popular classic offshore zones. Nowadays, 90 000 companies are registered in the Seychelles and the number is constantly growing, turning the Republic into a full-fledged international financial center.

Due to numerous requests for the registration of new offshore companies, the Republic of Seychelles has created a modern legal system that clearly regulates the process and makes it as easy as possible for everyone involved. We will help you maximize its capabilities and effectively apply a variety of financial services and tools.

  1. Full set of services in a Paradise
    Offshore business in the Seychelles is a way to de-risk your assets and protect them from any trouble in the financial market. Maximum security of your assets and no need for financial risk will help you optimize your international business and avoid unnecessary expenses. Beneficial for both clients and offshore markets, we preserve the reputation of each represented IBC package to make certain there are no predicaments when dealing with organizations offshore. Besides, each client can increase the level of privacy by requesting Director services provided by local professionals.

Seychelles company incorporation packages

Services GOLD
525 USD
PLATINUM
985 USD
Company registration including government fees ✔︎ ✔︎
Registered address for 1 year ✔︎ ✔︎
Apostille ✔︎ ✔︎
Company seal ✔︎ ✔︎
Share certificate ✔︎ ✔︎
Provision of professional shareholder for 1 year   ✔︎
Provision of professional director for 1 year   ✔︎
Total cost 525 USD 985 USD
Annual renewal fee 550 USD 1010 USD

Free Consultation:

How to create a company?

We have a package for both Seychelles offshore company incorporation and ‘off-the-shelf’ companies.

The advantage of an “off-the-shelf” company is a much lower time frame required for its registration, as it is, normally, ready for use within one hour after the reception of the required information, documentation and payment from the client.

To begin the process of selecting the best package or choosing one of the ready-made companies from the list, please, contact us for a consultation and assessment. We can determine the best strategy for each client. Then, you should just fill out the forms and send us the necessary documents together with the information about the structure of your company (including directors and shareholders).

Once completed, you will receive a payment bill. It contains a detailed explanation of each option included in the package. After the order is paid, the client is either mailed finalized paper forms or proceeds to request a new bank account. The procedure is nearly identical for pre-made offshore company formation with the exception of faster availability to the client.

General information

Government type Republic
Executive branch Cabinet (government) headed by the President
Legislative branch unicameral National Assembly (34 members)
Judicial branch Magistrates’ Court, Supreme Court, Court of Appeal
GDP per capita rank 34 (2012)

Corporate info

Shelf companies permitted Yes
Legal system based on English common law and French civil law
Incorporation timescale for a turnkey company above 2 weeks
Cyrillic alphabet permitted in company name No
Local registered office Yes
Types of entity company limited by shares; company limited by guarantee; company limited by shares and guarantee; limited partnership; special license company; protected cell company; international business company
Incorporation timescale for a new company 2 days
Company suffix Limited, Corporation, Incorporated or the related abbreviation: Ltd., Corp., Inc..
Sensitive words “Bank“, “Building Society“, “Chamber of Commerce“, “Chartered“, “Cooperative“, “Credit Union“, “Government”, “Licensing”, “Municipal”, “Parliament”, “Police”, “Royal”, “Tribunal”, “Stock Exchange” or a word or abbreviation conveying a similar meaning. “Airline”, “Assurance”, “Bitcoin”, “Bureau de Change”, “Casino”, “Charity”, “College”, “Council”, “Foundation”, “Fund”, “Gambling”, “Gaming”, “Hospital”, “Insurance”, “Insurer”, “Lottery”, “Military”

Shares and share capital

Minimum authorized share capital No requirements
Minimum issued share capital No requirements
Minimum paid share capital 1
Authorized capital payment deadlines No requirements
Bearer shares permitted No
Issued capital payment deadlines Upon issue
Standard currency US Dollar
Standard authorized share capital No
Standard par value of shares 1
Shares with no par value permitted Yes

Taxes

Min. rate for corporate tax 0%
Capital gains tax No
VAT 15%
Withholding tax 15%
Exchange control No
Personal tax 15%
Corporate tax (in detail) IBCs are exempt from corporate tax within Seychelles jurisdiction.
Capital gains tax. Details There is no capital gains tax in Seychelles jurisdiction.
VAT. Details VAT is a broadly based tax on consumption. It applies to almost all goods and services that are imported, bought and sold for use or consumption in Seychelles jurisdiction. Registration for VAT is required, if company’s turnover exceeds a VAT threshold of SR 5 million. A person whose annual turnover is below the VAT threshold may however decide to voluntarily register. There are two VAT rates: 15% (standard rate) on most supplies of goods and services, and 0% (zero-rate) on a specific list of transactions.
Other taxes Trades Tax; Excise Tax; Presumptive Tax; Corporate Social Responsibility Tax
Government fee $100
Stamp duty No

Accounts

Requirement to file accounts No
Publicly accessible accounts No
Audit required No
Requirement to file Annual Return Yes
Publicly accessible Annual Return No
Requirement to prepare accounts Yes
Double tax treaties network 36
Tax Exchange Information Agreement network 13
OECD member No

International law relations

Party to the Hague Convention (Apostille) Yes
Legal system based on English common law and French civil law
Double tax treaties network 36
OECD member No
Offshore/onshore status according to the RF laws Yes

List of laws and regulations

Act name Scope of law
Companies Ordinance 1972 Seychelles companies
Companies (Special Licence) Act 2003 special license companies
Limited Partnership Act 2003 limited partnerships
International Business Companies Act 2016 international companies
International Trade Zone Act 1995 International Trade Zone
International Trade Zone Regulations 1995 International Trade Zone
International Trusts Act 1994 international trusts
Mutual Fund & Hedge Fund Act 2008 mutual funds and hedge funds
Protected Cell Companies Act 2003 protected cell companies
Securities Act 2007 securities
Financial Services Authority Act 2013 FSA
Merchant Shipping Act 1992 shipping in Seychelles
Financial Institutions Act 1984 financial institutions
Insurance Act 2008 insurance business
Business Tax Act 2010 business tax
Value Added Tax Act 2009 VAT

Tax treaties entered

Tax treaties entered Bahrain, Barbados, Belgium, Bermuda, Botswana, China, Congo (Democratic Republic of the), Cyprus, Ethiopia, Ghana, Guernsey, Indonesia, Isle of Man, Jersey, Kenya, Kuwait, Lesotho, Luxembourg, Malawi, Malaysia, Mauritius, Mauritius, Monaco, Mozambique, Oman, Qatar, San Marino, Singapore, South Africa, Sri Lanka, Swaziland, Tanzania, Thailand, United Arab Emirates, Viet nam, Zambia, Zimbabwe
Tax Exchange Information Agreement (TEIA) Cayman Islands, Denmark, Faroe Islands, Finland, Georgia, Greenland, Guernsey, Iceland, India, Netherlands, Norway, Sweden, Switzerland

List of laws and regulations

   
Seychelles Government http://www.egov.sc/
Financial Services Authority http://www.fsaseychelles.sc
Seychelles Invetsment Board http://sib.gov.sc
Ministry of Finance http://www.finance.gov.sc
Seychelles Revenue Commission http://www.src.gov.sc/
Central Bank of Seychelles http://www.cbs.sc
Seychelles Licensing Authority http://www.sla.gov.sc
Seychelles Tourism Board http://www.seychelles.travel/
SAOPRA http://www.intershore.com/saopra/

BVI Company Registration

The British Virgin Islands – BVI company registration is the most popular offshore jurisdiction in the world.

BVI company incorporation packages

Services GOLD
1430 USD
PLATINUM
1980 USD
Company registration including government fees ✔︎ ✔︎
Registered address for 1 year ✔︎ ✔︎
Apostille ✔︎ ✔︎
Company seal ✔︎ ✔︎
Share certificate ✔︎ ✔︎
Courier services ✔︎ ✔︎
Provision of professional shareholder for 1 year   ✔︎
Provision of professional director for 1 year   ✔︎
Total cost 1430 USD 1980 USD
Annual renewal fee 1210 USD 1800 USD

Advantages of incorporating A BVI COMPANY with us:

  • you work directly with a licensed BVI registered agent (read more above our license), and thus:
  • all services are provided much faster, without unnecessary delays
  • you get the best competitive fees for incorporation
  • you get more confidentiality and personal data protection, as we are not an intermediary, and all and any information and documents you provide us with when incorporating are kept on our files only
  • immediate status updates for your order as we do not have to contact any other person to find out the information
  • more than 20 years of experience in the offshore industry (including the British Virgin Islands where we are licensed as a registered agent)
  • 187 employees in our 6 offices worldwide (including the British Virgin Islands) which means that you get not only offshore incorporation and registration, but other legal support services, tax planning advice, bookkeeping, preparation and filing of financial statements, translation and other related corporate and business services

Free Consultation:

Main advantages of doing business using A BVI company:

  • No requirement to have any paid-up share capital – what is more, the BVI law does not require a company to have a share capital, that is, a company may only be authorized to issue shares which gives you much flexibility when it comes to distributions, changing the par value, or effecting redemptions of shares
  • BVI companies may have unlimited number of bank accounts worldwide
  • Off-the-shelf or ready-made companies registered in the British Virgin Islands can be made available to you within a few hours to start your business or open an account without delay
  • NO corporate income tax (a fixed state duty is paid instead)
  • NO requirement to file financial statements in the British Virgin Islands or elsewhere
  • Directors may declare dividends on shares at any time, provided that the company meets the solvency test
  • No prescribed voting majorities: you are allowed to draft the M&AA in such a way as to allow creation of desired share majorities for taking business decisions and approving corporate matters
  • Mergers and acquisitions: BVI companies are allowed to merge with BVI or foreign companies, and the surviving company may be located either in the BVI, or in a foreign country
  • Re-domiciliation: BVI companies can continue in another jurisdiction which allows re-domiciliation
  • Etc, etc, etc…

Incorporation in the BVI

Offshore registrations were introduced in the islands in 1984 when the International Business Companies Act, 1984, was enacted and operated for twenty years having given birth to more than 600 000 IBCs. However, in 1999 international organizations and supranational bodies, including the OECD, launched series of initiatives against so called “tax havens” (however, the British Virgin Islands have never been blacklisted), with a view to eliminate harmful tax competition, which ended with changes in legal regimes of many countries.

Unlike others, the British Virgin Islands tried to stick to a reasonable compromise between the requirements of international authorities and demands of the financial services end users and registered agents. As a result, a new law was enacted: the BVI Business Companies ACT 2004 (No 16 of 2004) regulating both offshore, and local companies. The new Act lifted some restrictions existing earlier for IBCs, and now BVI business companies are allowed to do business with BVI residents and acquire real estate in the BVI.

The new company law provides for incorporation of various corporate forms of business companies, including a company limited by shares or/and guarantee, company with unlimited liability, special purpose vehicles, segregated portfolio company.

Since 2004, a number of significant amendments have been introduced in relation to the company incorporation and maintenance, among which the most interesting and “spectacular” ones are the company register of directors and implementation of the BOSS system.

What is BOSS System?

BOSS System is the Beneficial Ownership Secure Search System which means that a register of beneficial owners of business companies was introduced in compliance with the Exchange of Notes Agreement entered into by the BVI and the UK. Since June 30, 2017, all registered agents in the BVI have to upload details of beneficial owners of each incorporated company into the System, which enables the relevant authorities to have a searchable database containing details of beneficial owners (i.e. persons who either hold 25%+ of shares or effectively control the company).

However, worth mentioning that the register of beneficial owners is NOT PUBLIC, access is allowed only to authorized persons and only for the purposes of implementing their duties under the Exchange of Notes Agreement with the UK (which strives to identify and combat corruption, money laundering, terrorism financing, and other illegal business operations).

Register of Directors

Since April 1, 2016, each BVI registered company has to file its register of directors with the Registrar of Companies (through its registered agent in the British Virgin Islands). This register is also not public (except for the companies which opt for such information to be public), and accessible only upon a request from competent authorities or a court ruling.

Financial Records and Underlying Documents of the Business Company Incorporated in the BRITISH VIRGIN ISLANDS

BVI companies do not have to prepare and file audited financial statements with any authorities in the British Virgin Islands, but the business company need to provide to its registered agent the name of the person responsible for maintaining and controlling the company’s records and also the address where such company records are kept (including registers of the company’s directors, shares, minutes, etc.).

All the above innovations related to incorporation of a business company in the British Virgin Islands had different impacts of the end users: for some of them they are beneficial, as the image of the jurisdiction became more attractive – through reaching more transparency, for some of them they became a reason for migration from the BVI – again, because of reaching more transparency.

Free Consultation:

Corporate info

Shelf companies permitted Yes
Legal system based on English Common Law with local modifications and local statutes
Incorporation timescale for a turnkey company 2 weeks
Cyrillic alphabet permitted in company name Yes
Local registered office Yes
Types of entity Companies Limited by Shares; Companies Limited by Guarantee; Hybrid Companies: Companies Limited by Guarantee, authorised to issue shares; Unlimited Companies, authorised to issue shares; Unlimited Companies, not authorised to issue shares; Restricted Purpose Companies; Segregated Portfolio Companies
Incorporation timescale for a new company 1-5 days
Company suffix “Limited”, “Corporation” or “Incorporated”; “Societe Anonyme” or “Sociedad Anonima”, “Gesellschaft mit beschrankter Haftung”; or – the abbreviation “Ltd”, “Corp”, “Inc” , “S.A.” or “GmbH”; “Unlimited” or the abbreviation “Unltd”.
Sensitive words Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal, Trust, Royal, or any words of similar meaning, as well as any words that suggest patronage or the British Royalty, the Government of the BVI or the UK, or any government or its department

Shares and share capital

Minimum authorized share capital No requirements
Minimum issued share capital 1 share
Minimum paid share capital 1 share
Authorized capital payment deadlines No requirements
Bearer shares permitted No
Issued capital payment deadlines The deadline is set in the Memorandum or Articles of Association of the Company
Standard currency US Dollar
Standard authorized share capital 50000
Standard par value of shares 1
Shares with no par value permitted Yes

Taxes

Min. rate for corporate tax No
Capital gains tax No
VAT No
Withholding tax No
Exchange control No – for offshore companies
Personal tax No
Corporate tax (in detail) Nil – for offshore companies
Other taxes payroll tax for companies hiring local employees
Government fee 350 USD
Stamp duty No

Accounts

Requirement to file accounts No
Publicly accessible accounts No
Audit required No
Requirement to file Annual Return No
Publicly accessible Annual Return No
Requirement to prepare accounts Yes
Double tax treaties network 1
Tax Exchange Information Agreement network 28
OECD member No

International law relations

Party to the Hague Convention (Apostille) Yes
Legal system based on English Common Law with local modifications and local statutes
Double tax treaties network 1
OECD member No
Offshore/onshore status according to the RF laws No

Tax treaties

Tax treaties entered Switzerland
Tax Exchange Information Agreement (TEIA) Aruba, Australia, Canada, China, Curaçao, Czech Republic, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Guernsey, Iceland, India, Ireland, Isle of Man, Japan, Korea (Republic of), Netherlands, New Zealand, Norway, Poland, Portugal, Sint Maarten, Sweden, Switzerland United Kingdom, United States