Overview

In addition to Cyprus, our services cover a number of jurisdictions including offshore ones, such as, Belize, BVI and Seychelles.

Offshore jurisdictions in general have very low compliance requirements and zero taxation. However, they offer very limited access to double tax treaties making it difficult to use a company based in an offshore jurisdiction to do business with the rest of the world.

On the other hand, companies based in white list jurisdictions can be used to carry out any business. However, they are subject to certain compliance requirements and taxation.

In order to achieve tax efficient international corporate structures, offshore companies are often combined with companies based in white list jurisdictions.

The following comparative table shows the main differences between some popular jurisdictions:

 

Belize

Seychelles

B.V.I.

Marshall Islands

Cyprus

UK

Luxemburg

Type of Company

IBC

IBC

BC

IBC

Private Ltd

Private Ltd

SARL

Common Law Legal System

Common

Common

Common

Common

Common

Common

Civil

Min No. of Directors

1

1

1

1

1

1

1

Local Directors Required

No

No

No

No

Yes

No

No

Public Disclosure of Director

No

No

No

No

Yes

Yes

Yes

Min No. of Shareholders

1

1

1

1

1

1

1

Public Disclosure of Nominee Shareholders

No

No

No

No

Yes

Yes

Yes

Public Disclosure of Beneficial Owners

No

No

No

No

No

No

No

Bearer Shares  Allowed

Yes

Yes

Yes

Yes

No

No

Yes

Registered Office/Agent Required

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Company Secretary Required

No

No

No

Yes

Yes

No

No

Tax on Offshore Profits

No

No

No

No

Yes

Yes

Yes

Local Meetings Required

No

No

No

No

Yes

No

No

Bookkeeping Required

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Annual Return Required

No

No

No

No

Yes

Yes

Yes

Annual Audited Accounts Required

No

No

No

No

Yes

Yes

Yes