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Offshore Company - Comparison Chart Print E-mail

 

General

Seychelles

Seychelles

Panama

Belize

BVI

Company Type

IBC

Special License

Non-Resident

IBC

Business Company

Political Stability

Very Good

Very Good

Very Good

Good

Very Good

Legal System

Common/ Civil Law Hybrid

Common/ Civil Law Hybrid

Civil Law

Common Law

Common Law

Disclosure of Beneficial Owner to Registrar

No

Yes

No

No

No

Disclosure of Beneficial Owner to Registered Agent

Yes

Yes

Yes

Yes

Yes

Migration of Domicile Permitted

Yes (Incoming and Outgoing)

Yes (Incoming and Outgoing)

Yes (Incoming and Outgoing)

Yes (Incoming and Outgoing)

Yes (Incoming and Outgoing)

Non-English Language Names Allowed

Yes

Yes

Yes

Yes

Yes

Operational Objects

General Allowed

Specific required

General Allowed

General Allowed

General Allowed

Tax Resident

No

Yes

Optional

No

No

Tax on Worldwide Profits (not from local sources)

None

1.50%

None

None

None

Access to Double Taxation Avoidance Treaties

No

Yes

If tax resident

No

No

USA Tax Information Exchange Agreement or Mutual Legal Assistance Treaty

No

No

No

Yes

Yes

Under jurisdiction of the EU

No

No

No

No

Yes

Corporate Requirements

Seychelles IBC

Seychelles CSL

Panama

Belize

BVI

Minimum Shareholders

One

Two

One

One

One

Minimum Directors

One

Two

Three

One

One

Bearer Shares Allowed

No

No

Yes

Yes*

Yes*

Corporate Directors Allowed

Yes

No

Yes

Yes

Yes

Company Secretary Required

No

Yes

Yes

No

No

Standard Authorized Share Capital

USD 100,000**

USD 1,000 (up to USD 100,000)

USD 10,000

USD 50,000

USD 50,000

Minimum Paid Up Capital

$1

10% of authorized share capital

$1

$1

$1

Corporate Seal

No

No

No

Yes

Yes

Local Requirements

 

 

 

Registered Agent

Yes

Yes

Yes

Yes

Yes

Registered Office

Yes

Yes

No

Yes

Yes

Local Secretary

No

Yes

No

No

No

Local Directors

No

No***

No

No

No

Local Meetings

No

No

No

No

No

Public Register of Directors?

No

Yes

Yes

No

No

Public Register of Shareholders?

No

Yes, not public

No

No

No

Annual Requirements

Seychelles IBC

Seychelles CSL

Panama

Belize

BVI

Audited Accounts

No

Yes

No

No

No

Annual Return

Yes

Yes

No

No

No

Annual Meeting

No

No

No

No

No

Meeting Location

Anywhere, proxy also allowed

Anywhere, proxy also allowed

Anywhere, proxy also allowed

Anywhere, proxy also allowed

Anywhere, proxy also allowed

Incorporation Time

1-2 days

2- 4 weeks

4-5 days

1-2 days

1-2 days

Government Fees (excluding taxes)

$100

$1200

$300

$100

$350

* Bearer shares must be immobilized and held in custody by either an "authorized" or "recognized" custodian in BVI or by the Registered Agent in Belize.

** Standard share capital is USD 100,000; however, Government fees remain only USD 100 for any authorized share capital with no limit.

*** While local directors are not "required" it is strongly suggested that local directors be appointed if the desire is to access any of the Double Taxation Avoidance Treaties.

 




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