Offshore Company - Comparison Chart
General |
Seychelles |
Seychelles |
Panama |
Panama |
Belize |
BVI |
Company Type |
IBC |
Special License |
Non-Resident |
Private Foundation |
IBC |
Business Company |
Political Stability |
Very Good |
Very Good |
Very Good |
Very Good |
Very Good |
Very Good |
Legal System |
Common/ Civil Law Hybrid |
Common/ Civil Law Hybrid |
Civil Law |
Civil Law |
Common Law |
Common Law |
Disclosure of Beneficial Owner to Registrar |
No |
Yes |
No |
No |
No |
No |
Disclosure of Beneficial Owner to Registered Agent |
Yes |
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) |
Yes (Incoming and Outgoing) |
Non-English Language Names Allowed |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Operational Objects |
General Allowed |
Specific required |
General Allowed |
Specific Purpose |
General Allowed |
General Allowed |
Tax Resident |
No |
Yes |
No |
No |
No |
No |
Tax on Worldwide Profits |
None |
1.50% |
None |
None |
None |
None |
Access to Double Taxation Avoidance Treaties |
No |
Yes |
No |
No |
No |
No |
USA Tax Information Exchange Agreement or Mutual Legal Assistance Treaty |
No |
No |
No |
No |
Yes |
Yes |
Under jurisdiction of the EU |
No |
No |
No |
No |
No |
Yes |
Corporate Requirements |
Seychelles IBC |
Seychelles CSL |
Panama IBC |
Panama Foundation |
Belize |
BVI |
Minimum Shareholders |
One |
Two |
One |
N/A |
One |
One |
Minimum Directors |
One |
Two |
Three |
One Individual or Three Corporate |
One |
One |
Bearer Shares Allowed |
Yes |
No |
Yes |
N/A |
Yes* |
Yes* |
Corporate Directors Allowed |
Yes |
No |
Yes |
Yes |
Yes |
Yes |
Company Secretary Required |
No |
Yes |
Yes |
Yes |
No |
No |
Standard Authorized Share Capital |
USD 100,000** |
USD 1,000 (up to USD 100,000) |
USD 10,000 |
USD 10,000 initial patrimony |
USD 50,000 |
USD 50,000 |
Minimum Paid Up Capital |
$1 |
10% of authorized share capital |
$1 |
USD 10,000 |
$1 |
$1 |
Corporate Seal |
No |
No |
No |
No |
No |
No |
Local Requirements |
|
|
|
|
|
|
Registered Agent |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Registered Office |
Yes |
Yes |
No |
No |
Yes |
Yes |
Local Secretary |
No |
Yes |
No |
No |
No |
No |
Local Directors |
No |
No*** |
No |
No |
No |
No |
Local Meetings |
No |
No |
No |
No |
No |
No |
Government Registry of Directors |
No |
Yes, not public |
Yes, not public |
Yes, not public |
No |
No |
Government Registry of Shareholders |
No |
Yes, not public |
No |
N/A |
No |
No |
Annual Requirements |
Seychelles IBC |
Seychelles CSL |
Panama IBC |
Panama Foundation |
Belize |
BVI |
Audited Accounts |
No |
No |
No |
No |
No |
No |
Annual Filing of Returns |
No |
Yes |
No |
No |
No |
No |
Annual Meeting |
No |
No |
No |
No |
No |
No |
Meeting Location |
Anywhere, proxy also allowed |
Anywhere, proxy also allowed |
Anywhere, proxy also allowed |
Anywhere |
Anywhere, proxy also allowed |
Anywhere, proxy also allowed |
Incorporation Time |
1-2 days |
2- 4 weeks |
3-4 days |
5 days |
1-2 days |
1-2 days |
Government Fees (excluding taxes) |
$100 |
$1,200 |
$250 |
$350 |
$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.