.png){kind=small}
.png)
International Companies Formation
Ilitia has been successfully providing international corporate services since 1999. Our main offices are located in Panama, a prime jurisdiction that has been offering for more than 85 years Legal Services to the Financial and Legal Industries.
Below we provide our clientele with a few of the most popular jurisdictions we offer.
British Virgin Islands
BVI is an internationally respected financial center that connects markets, facilitates investment, trade and capital flow. BVI is a world leader in excellence and innovation in financial services and an essential gear in the global economy. As a British Overseas Territory, the BVI offers all the security and stability that is traditionally associated with the British flag.
Key features:
-
A director is required, who can be a natural person or other legal entity of any nationality or jurisdiction.
-
A shareholder is required, who can be a natural person or other legal entity of any nationality or jurisdiction;
-
Bearer shares are not allowed;
-
Registered agent is required;
-
No secretary required;
-
Exemption of all local taxes.
-
Well developed financial services industry.
-
Legal system of common law based on Anglo-Saxon law.
-
There are no currency restrictions.
-
Company documents are well known and widely recognized by international banks
-
Information on shareholders and real beneficiaries is not public
-
Information of the directors if it is public as of 2017.
-
Subject to analysis of Economic Substance.
-
Accounting is required (anywhere in the world)
-
Companies incorporated in any other jurisdiction can be continued in BVI as a “Business Company”.
-
BVI may, where the laws of another jurisdiction permit, change of address to said jurisdiction.
-
Failure to pay government fees would cause the company to be eliminated and automatically dissolved.
Recent Amendments.
On January 1, 2007, the Virgin Islands of Commercial Companies British Law of 2004 became the only Commercial Companies Law in the BVI.
The BC Law of BVI eliminates the differences between 'local' BVI and 'offshore' legal entities. The term "International Business Company (IBC) 'was replaced by the term" Company (BC)'.
The Law on Commercial Entities (Substance Requirement) entered into force on December 31, 2018. This law requires that certain legal entities that carry out relevant activities demonstrate adequate economic substance in said jurisdiction.
Compliance and reporting requirements appear in the rules of economic substance and in the explanatory notes (the Rules), which were published by the BVI International Tax Authority (ITA) in draft on April 23, 2019 and finalized on 9 October 2019 to reflect comments from the EU and industry.
The relevant activities are:
1) Banking business
2) Insurance business
3) Fund management business
4) Leasing and financial business
5) Company headquarters
6) Shipping business
7) Distribution and service center
8) Intellectual property
9) Holding companies, understood as a "holding entity of pure capital".
The BVI continues to be a globally respected jurisdiction for those seeking flexibility, security, and compliance with international standards. Its modern legislative framework, coupled with a well-developed financial services industry, ensures a solid foundation for various purposes. As an integral part of the global economy, the BVI offers the stability and reliability associated with British Overseas Territories while adapting to meet the demands of today's regulatory landscape.
For tailored advice or further information, our team is here to guide you through the possibilities that BVI structures can provide. Reach out to us to learn how the BVI can support your long-term goals.
Belize
Belize is a stable and peaceful democracy in the heart of Central America. It is well- regulated, yet user friendly jurisdiction offering a wide variety of international financial services.
Modern and up-to-date Belizean legislation provides maximum flexibility with regard to the protection of assets globally, as well as in the areas of tax planning and investments.
Key features.
-
You can conduct business inside and outside Belize.
-
Absence of exchange controls.
-
It is not necessary to publicly disclose the name and identity of the owner or owners.
-
A director is required, who can be a natural person or other legal entity of any nationality or jurisdiction.
-
A shareholder is required, who can be a natural person or other legal entity of any nationality or jurisdiction;
-
Bearer shares are not allowed;
-
Registered agent is required;
-
No secretary required;
-
The meetings of shareholders and directors can be held outside of Belize, by telephone or other electronic means.
-
The domiciliation of foreign companies and a Belizean company in another jurisdiction is allowed
-
The company can be registered in any language.
-
Accounting is required (anywhere in the world);
-
Subject to proof of Economic Substance;
-
Details of public knowledge: name of the registered agent and registered address, name and address of the director;
-
Failure to pay government fees would cause the company to be eliminated and automatically dissolved.
Recent amendments
Belize, as other ex British Colonies, has enacted legislation concerning Economic Substance. The law requires that certain legal entities that carry out relevant activities demonstrate adequate economic substance in said jurisdiction.
The relevant activities are:
1) Banking business
2) Insurance business
3) Fund management business
4) Leasing and financial business
5) Company headquarters
6) Shipping business
7) Distribution and service center
8) Intellectual property
9) Holding companies, understood as a "holding entity of pure capital".
In addition, companies that do not fall under the scope of the Economic Substance Act, will nevertheless have to file a tax return every year and pay Belizean tax on worldwide income. Holding companies, although they would need to file a tax return are still exempt from taxation.
Please contact us if you have any questions concerning this matter.
Hong Kong
Hong Kong is one of the world’s most liberal economies. Hong Kong's strengths as cited by the Heritage Foundation are its very low level of government involvement in business activities, very low inflation, very low barriers to foreign investment, very low level of restrictions in banking and finance, very low level of regulation.
-
One of the major advantages of utilizing a Hong Kong entity is that it will not be perceived as a tax avoidance vehicle, as Hong Kong is a major trading entity in its own right;
-
A Hong Kong company is one of the best corporate structures in the world. As well as being an extremely tax efficient corporate vehicle;
-
The tax laws of Hong Kong are extremely simple compared to other onshore jurisdictions and the tax advantages of operating there could be summarized as follows:
-
Taxes are levied according to the "territorial principle" meaning that taxes are only levied on income "derived from or arising in" Hong Kong and not on income sourced outside the Territory;
-
A number of taxes that exist in most jurisdictions do not exist in Hong Kong. Thus there are no capital gains taxes, no withholding taxes, no sales taxes, no VAT, no annual net worth taxes and no accumulated earnings taxes on companies, which retain earnings rather than distribute them. In the long term it is intended to completely phase out stamp duty on the sale and issue of shares and securities and to reduce direct taxes further.
-
Hong Kong has expanded its network of double tax agreements in recent years for example with China, the UK, Japan, and others.
-
The standard authorized share capital is HK$10,000. An increase in the authorized share capital above this amount incurs an increase in annual statutory fees. The minimum issued capital is one share of HK$1 each;
-
A Hong Kong company must appoint a company secretary, who may be a natural person or a body corporate, but the company secretary must be resident in Hong Kong. The Company Ordinance prohibits the sole director to be company secretary of the Company.
-
Hong Kong companies are required to prepare full audited accounts under the company laws. In addition, the audited financial statements are furnished to the Inland Revenue Department together with a Profits Tax Return.
-
At least one director is required and full details of directors are filed with the Hong Kong Public Registry. The directors can be of any nationality and be resident anywhere. There is no requirement for board meetings to be held within Hong Kong and directors may be resident anywhere in the world;
-
Every Hong Kong Company must have a Registered Office in the Territory to comply with the Companies Ordinance.
Current international vision of Hong Kong by international organizations.
Basic pricing for Hong Kong companies
Hong Kong company registration: US$2,000.00
Includes:
-
Verification of the proposed company names at the registrar
-
Memorandum and Articles
-
Certificate of Incorporation
-
Share certificates
-
Share register
-
First minutes
-
First year license fee
Renewal: US$1,500.00
Optional services and fees
-
Apostille (per document or set): US$455.00
-
Notarization of documents (per document): Varies
-
Amendments: US$200.00
-
General powers of attorney (if we provide nominee): US$250.00
-
Nominee director (yearly, per nominee): US$500.00
-
Nominee shareholder (yearly, per nominee): US$500.00
-
Courier services: From US$100.00
-
Dissolution: Varies
-
Certificate of Incumbency: US$150.00
-
Certificate of Good Standing: US$150.00
-
Redomiciliation: Varies
-
Transfers out (exit fee): US$400.00
-
Resolutions post incorporation: US$150.00
Note: Nominee directors and shareholders are provided by our Panama office. For Hong Kong-based nominees, please inform us accordingly.
Marshall Islands
The Republic of the Marshall Islands (RMI) which is located in the Pacific Ocean, and is part of the larger island group of Micronesia, composed of many individual atolls and islets lying north of the Equator. In 1986, independence as a sovereign nation was attained although it remains in free Association with the United States, same as Puerto Rico. The local currency is the US dollar, with English and Marshallese being the islands two most widely spoken languages.
The Marshall Islands is a democratic and independent state, which has had no recent legal reform. The foundation of the legal system in the Marshall Islands partially derives from the legislation of Delaware State, which ensures friendliness and flexibility of the legal infrastructure towards the business community, making it a suitable choice for international corporations, Partnerships, Limited Liability Partnerships and Limited Liability Companies in various capacities.
Advantages of Marshall Islands Company
-
Exemption from all local taxes and stamp duty
-
Maximum confidentiality and anonymity
-
Ease of operation, maintenance and control
-
Asset security
-
No disclosure or minimum capital requirements
-
A Marshall Islands IBC requires a minimum of one shareholder
-
A Marshall Islands IBC requires a minimum of one director
-
Corporate directors and shareholders are permitted
-
Excellent and flexible post-incorporation follow-up services
-
No statutory requirement to hold annual general meetings
-
Highly competitive fees and costs
Current international vision of Marshall Islands by international organizations.
Basic Pricing for Marshall Islands Companies
Marshall Islands Company Registration: US$1,300.00
Includes:
-
Articles of Incorporation
-
Certificate of Incorporation
-
First year of license
Renewal Fees: US$1,300.00
Includes:
-
License and registered agent
Optional Services and Fees
-
Apostille: No cost
-
Amendments: US$250.00
-
General powers of attorney: US$250.00
-
Nominee director (yearly): US$500.00
-
Nominee shareholder (yearly): US$500.00
-
Courier services: From US$100.00
-
Dissolution: US$800.00
-
Certificate of Incumbency: US$250.00
-
Certificate of Good Standing: US$250.00
-
Redomiciliation: US$1,300.00
-
Transfers out (exit fee): US$400.00
-
Resolutions post incorporation: US$150.00
Note: Nominee directors and nominee shareholders are provided by our Panama office.
Nevis
Nevis is a part of the politically independent St Kitts and Nevis Federation. Traditionally, St. Kitts focuses on tourism business and Nevis offers offshore asset protection services. Nevis has its own offshore legislation, which brings a lot of advantages to clients involved in international business activities.
New amendments have been introduced in Nevis, specifically stating that IBCs and/or LLCs, incorporated prior to the start of 2019 and not directly operating a business in Nevis, were granted a period of adjustment. These companies retain their tax exempt status until June 2021.
Since, 1st January 2019, Nevis IBC's and LLC's have therefore been subject to Federal Corporate Tax. This decision was taken following consultation and at the direct request of the European Union and OECD, to assist with tax harmonization.
In late 2018, the Government of Nevis amended its International Business Corporation (IBC) and Limited Liability Corporation (LLC) Acts, to remove the exemption of these companies from Federal Corporate Tax.
Key features.
-
Complete powers to engage in any legitimate business worldwide, subject only to certain limitations on local business in Nevis.
-
Names may be registered in any language, with your choice of suffix such as Inc, S.A., Limited, BV, SARL, KFT, etc. The name must; however, be written in the Latin/English alphabet.
-
Any person or company from any jurisdiction may incorporate a Nevis IBC.
-
With respect to bearer shares, they have been restricted. Bearer shares are only permitted with the approval of the Registrar of Corporations or the Regulator. The Registered Agent must maintain custody of the bearer share certificate on behalf of the beneficial owner and must maintain a register of each bearer share. AML/CFT On-site Examinations are conducted by the FSRC – Nevis Branch to ensure that Registered Agents comply with these stipulations.
-
Corporate directors and single subscriber companies are permitted.
-
Complete exemption from Nevis taxes, always that the entity is not considered tax resident in Nevis. The company will need to submit an annual tax return by April 15 every year.
-
Details of management and ownership remain private.
-
Redomiciliation permitted into and out of Nevis, including emergency redomiciliation.
-
Total confidentiality and anonymity; no requirements to disclose beneficial owners, shareholders and directors to the Government. The Articles of Incorporation is the only document filed with the Nevis Registrar of Companies. This document does not include any information about corporate directors, officers, shareholders and beneficial owners. It lists only the name of the Nevis registered agent and registered office address.
For tailored advice or further information, our team is here to assist you in exploring the opportunities that Nevis structures can offer.
Panama
Panama does not depend on tourism and financial services and although Panama does have a thriving tourism and financial services industry, it also provides many other services, like the Free Zones, a robust Banking Center and the Panama Canal, Maritime services in general (ports, communications), plus manufacturing and agricultural industries also growing day by day and being more competitive as well.
Panama has a stable democracy, a growing and competitive economy that has consistently grown at a rate of 2 to 5% per year, in addition to:
-
Absence of major natural disasters such as hurricanes, tsunamis or earthquakes.
-
Banking facilities for companies acting as holding companies or in any case doing
-
business from Panama and possibility of opening accounts remotely, meaning, without having to travel to Panama.
-
Panama provides more security for the Beneficial Owner or Shareholder, as any amendment or modification to the articles has to be recorded publicly and authorized, if so expressed on the certificate of incorporation, by the shareholders, whereas in other jurisdictions (typically common law jurisdictions) these changes may be done privately and with no obligation to register, thus a shareholder could very well not be aware or have knowledge of an amendment.
Common uses of Panamanian Companies
-
As a holding entity for shares, bonds, bank accounts, term deposits, investment projects, IP rights or any other financial or commercial title
-
Owner of shares in other companies, be them Panamanian or foreign.
-
Owner of immovable property, such as apartments, lots, houses or any other asset, be them movable or unmovable
-
Manager or promoter of international commercial transactions
-
International lease of aircraft, vehicles, machinery, vessels and others
-
Instrument to receive and deliver loans in cash or commissions for products and services
-
Marketing and promotion of products and services
-
Other financial or commercial activities.
For over eighty five (85) years the Panamanian Corporation ("Sociedades Anónimas") have been recognized, worldwide, as a corporate vehicle that can be successfully used in a variety of International Business, Asset Protection, Estate Planning Structures, among others.
Key features
-
Quick registration in 24 to 48 hours
-
The Panamanian Corporations can be registered notwithstanding the nationality of its directors or shareholders.
-
The income produced by a Panamanian Corporation outside the territory of the Republic of Panama is exempt from paying Income Tax in Panama.
-
The capital of the company does not have to be paid partially or fully at the moment of incorporation.
-
There is no obligation to submit annual reports, financial statements or sworn income statements, as long as the company does not generate income of Panamanian origin. However, if the company has 100% foreign operations, it has the obligation to keep accounting anywhere in the world and inform the resident agent of the location of said accounting records and the name and address of the person who has custody of said records and provide to the registered agent a copy of the accounting records each year by April 30.
-
Legal entities of any country can be appointed as directors, officers or shareholders.
-
There is no obligation to undertake annual meetings of the Board of Directors or Shareholders.
-
The directors and shareholders can meet in person, by Proxy, phone or by any other electronic means.
-
The shares can be issued in nominative or bearer form. In any case, the name of the shareholder is not required to be registered at the Public Registry, thus privacy is preserved. Bearer shares do need to be kept with an authorized custodian in Panama.
-
A Panamanian company may issue shares with no par value.
-
May issue different classes of shares and series.
-
A Panamanian company may purchase its own shares (under certain conditions).
-
Foreign currency incorporations are permitted.
-
Incorporations in foreign languages are always permitted if a translation to Spanish is also filed.
-
The corporate books can be kept in any part of the world and can be managed by electronic files or programs.
-
A Panamanian Corporation can do transactions and own assets in any part of the world, without having the obligation to maintain assets in the Republic of Panama.
-
The Panamanian Corporation can undertake any type of legal business activity in any part of the world.
-
The use of the Apostille is permitted.
For personalized assistance or further information, our team is ready to guide you through the possibilities offered by Panamanian corporations.
Seychelles
The Seychelles IBC was created by the International Business Companies Act of 1994. Today this jurisdiction is very popular for its simplicity, the speed of the incorporation process and the price, but it also enjoys many other benefits that you can read below:
-
IBC pays no taxes in Seychelles other than the Government License fee;
-
Annual reporting not required for IBC's;
-
Requirement to keep accounting;
-
There is no minimum capital requirement; shares may be either registered and may be issued in any currency;
-
Shares can be issued with or without par value;
-
Bearer shares are not permitted;
-
Only one shareholder and one director are required. Their particulars do not appear on public record;
-
Shareholders, directors and officers need not be resident in the Seychelles and there is no stipulation as to their nationality;
-
Directors and/or officers can be either corporate entities or natural persons;
-
There is no foreign exchange control;
-
It takes only 24 hours to incorporate an offshore company in Seychelles and the fees are the lowest on the Internet;
-
Speedy incorporation procedures and simple ongoing administration;
-
Shareholders and directors meetings need not be held in the Seychelles, can be held by telephone, may be attended by proxy;
-
The Memorandum and Articles of Association are the only documents to be held on the public record;
-
There is no requirement to register initial or ongoing changes in directors and/or officers;
-
IBC's may engage in any lawful business in any country and may carry on transactions in whatever currencies they choose.
-
Accounting records need to be submitted to the registered agent twice a year (by July 31 and January 31).
Recent amendments
At the end of August 2020, Seychelles adopted a new Final Beneficiaries Law.
Since most jurisdictions maintain a beneficial ownership registry at the registered agent's office only, and in accordance with current regulations introduced, similarly to the BVI, Seychelles registered agents will be required to file with the authorities, no later than January 31, 2021, the registry of beneficial owners of the company as prescribed in the Law. Any change in the ownership structure thereafter, we would be obliged to also file with the Financial Intelligence Unit (FIU) any update of the Registry of beneficial owners.
The system and the process for the system with the FIU is not yet implemented since the authorities are working on the internal process and the digital infrastructure to serve it, with which the FIU would be communicating at the end of 2020 to the registered agents when the system is fully operational.
The Regulations and the filling process will require that all companies have in their respective file of Final Beneficiaries a notice under the new Beneficiary Declaration before the Registry of Beneficiaries is effectively presented to the authorities.
All companies (active and non-active) that do not provide the notice before the established deadline to guarantee the completion of their UBO registration with the FIU, will be in default and consequently, the registered agent must resign.
Singapore
Also called "The Switzerland of Asia", it is one of the most economically and socially developed countries in the world. Over the past decade, Singapore has been the only country in Asia to which all major credit rating agencies, including S&P, Moody's and Fitch, have awarded the highest sovereign AAA rating.
Singapore's tax system is territorial in nature. The corporate income tax is paid at a rate of 17% on:
-
Revenue accrued in or derived from Singapore;
-
Income of foreign origin as long as it is received in Singapore.
Resident and non-resident companies are subject to the payment of taxes on accrued or derived income from Singapore and foreign income remitted or considered remitted to Singapore, including profits from a trade or business; dividends, interest or discounts; charges or annuities; rents, royalties, premiums and other benefits derived from the property; and earnings of a nature of income that do not fall into the previous categories.
Remittances of foreign income in the form of dividends, branch benefits and services to resident companies are tax exempt, provided that the income is received from a foreign jurisdiction with a general tax rate of at least 15% at the time it is receive or consider the income received in Singapore and the income has been taxed in the foreign jurisdiction. Foreign income that has been exempt from taxes in the foreign jurisdiction as a direct result of a tax incentive granted for substantial commercial operations carried out in that jurisdiction shall be deemed to have complied with the "taxable" test.
Several government agencies administer tax incentives to eligible taxpayers for a tax exemption on their qualified income. Some of the examples are listed below:
-
Financial Sector Incentive: Companies dedicated to qualification activities in the provision of financial services
-
Foreign trusts and foreign accounts of charities
For foreign investors looking to locate their manufacturing operations or service performance in Singapore
There is currently no capital gains tax in Singapore. Whether a profit is classified as income or capital gain will be determined on a case-by-case basis and will depend on different factors.
DOUBLE TAX TREATIES
Singapore has an extensive investment protection agreement and a network of treaties to avoid double taxation. This includes most countries in the Asia-Pacific region, Europe, Africa and the Middle East. Singapore is also one of the few countries to have a tax treaty with Taiwan.
Current international vision of Singapore by international organizations.
Basic Pricing for Singapore Companies
Initial Incorporation: US$4,000.00
Includes:
-
Local Director
-
Local Corporate Secretary
-
Address in Singapore for virtual office use
-
Assistance with opening a bank account
-
Corppass Registration
-
Accounting and preparation of unaudited financial statements (no audit required for revenue below SG$10 million)
-
Annual tax returns and filing
-
Unlimited corporate governance resolutions (e.g., board resolutions, shareholder changes, updated business files, etc.), excluding taxes, typically ranging between US$1 and US$10 per transaction.
Annual Renewal: US$4,000.00
Includes:
-
Company renewal and secretarial services
-
Verification of compliance with local legislation
Additional Notes:
-
Clients must provide a copy of their passport, proof of address (in English, dated within 3 months), and a selfie via a secure URL for verification.
-
Entity creation takes approximately 2 days and is fully online. Documents are shared pre- and post-onboarding via Dropbox for signatures.
-
Companies with annual revenue below SG$1 million are exempt from GST (VAT). Entities exceeding this threshold must register for GST and pay 9% on revenue.
-
Banking options include EMI (Electronic Money Institution) services such as Wise, Aspire, Airwallex, or Stratys (free and fast setup), or traditional premium banks like OCBC, which require a minimum deposit of SG$1,000 per currency and supporting business documents for account opening.
-
A minimum of one CEO and one shareholder is required, which can be the same person.
Additional Services and Fees for Singapore Companies
-
Incorporation of company: US$1,350.00
-
Secretarial services: US$1,155.00
-
Annual renewals: US$1,155.00
-
Apostille (per document or set): Case-by-case
-
Document notarization: From US$100.00
-
Amendments to the Articles of Association: US$485.00
-
Document certification: Case-by-case
-
General Powers of Attorney: From US$485.00
-
Nominee directors: Case-by-case
-
Nominee shareholders: Case-by-case
-
Courier services: From US$90.00
-
Bank account assistance: Case-by-case
-
Certificate of tax exemption: US$200.00
-
Dissolutions: US$580.00
-
Agent certifications: From US$100.00
-
Registration certifications: From US$160.00
-
Re-domiciliation: Case-by-case
-
Post-incorporation resolutions: US$405.00
For more information or tailored assistance, our team is ready to guide you through the benefits and opportunities of Singapore companies.
Delaware
Get Started - Order your Delaware LLC at www.cldcorpusa.com
The State of Delaware is a leading domicile for U.S. and international corporations. More than 1,000,000 business entities have made Delaware their legal home. More than 66% of the Fortune 500 have chosen Delaware as their legal home.
Businesses choose Delaware not for one single reason, but because the State provides a complete package of incorporation services. The Delaware General Corporation Law is the most advanced and flexible business formation statute in the nation. The Delaware Court of Chancery is a unique 220 year old business court that has written most of the modern U.S. corporation case law. Delaware’s State Government is business-friendly and accessible. These factors have all contributed to making Delaware a premier legal home to companies around the world.
There are the so-called Corporations and the so-called Limited Liability Companies or LLC. A Corporation or an LLC that chooses to be treated as an Corporation for tax purposes must keep accounting and file annual income returns and pay taxes in the United States. There are strategies to reduce the tax burden in these cases. In cases of LLC that choose to be transparent for tax purposes, the company will no longer be responsible for submitting annual income statements, but its member or owner, with the advantage that, if it is a single foreign owner, the latter will not have to pay taxes in the United States, provided the income is from a foreign source (non US income). This is a significant advantage, as the LLC could well be used as a vehicle that holds shares and real estate outside the United States.
Notwithstanding the foregoing, it should be noted that, as of January 2017, an LLC with a single foreign member must report to the United States Department of Internal Revenue the name of the person responsible and should be understood as the person responsible for those who have effective control of the society. This information is private and confidential and that the United States collects to comply with the International Treaties on information exchange and double taxation that it has signed.
The United States has not signed the so-called “Common Reporting Standard” or CRS and the Multilateral Agreement for the Exchange of Fiscal Information in Administrative Matters has not been ratified and is not expected to be ratified promptly.
A Delaware LLC is a business vehicle with a legal existence separate and distinct from its owners. Owners and managers are not personally liable for the company's debts and obligations.
A Delaware LLC has the ability to be treated as a pass-through entity for tax purposes. As such, it is considered a hybrid business formation that combines some of the best features of corporations and partnerships.
An LLC is a relatively new type of entity in the United States. If properly structured, it combines the limited liability of a corporation with the pass-through taxation of a partnership. However, it is important to clarify that while LLCs can be treated as legal partnerships, they are not corporations. Owners-or members, as they are called in an LLC structure - can be individuals or any type of entity, from anywhere in the world, and are unlimited in number.
The features of a Delaware limited liability company, when combined with non-U.S. source income, means non-resident aliens of the United States can avoid U.S. taxation when using an LLC.
Other Advantages of Delaware:
-
Delaware’s business law is one of the most flexible in the United States of America.
-
For corporations, there is no state corporate income tax for companies that are formed in Delaware but do not transact business there (but there is a franchise tax)
-
Taxation requirements are often favorable to companies with complex capitalization structures and/or a large number of authorized shares of stock.
-
There is no personal income tax for non-residents.
-
Shareholders, directors and officers of a corporation or members or managers of an LLC don’t need to be Delaware residents.
-
Stock shares owned by persons outside Delaware are not subject to Delaware taxes.
Current international vision of Delaware by international organizations.
United Kingdom
The United Kingdom is known for its fast and efficient company registration process. It is a very stable jurisdiction with an excellent reputation. Companies can often be established electronically in as little as one day. Additionally, the UK has strong global trade relations, though it does not have particularly notable commercial ties specifically with Central American jurisdictions.
The main attraction of the United Kingdom is its flexible regulatory framework, which offers favorable conditions for international business. The UK also has an extensive network of international agreements to avoid double taxation, making it an attractive location for multinational operations.
Under UK law, companies are generally considered residents for tax purposes if they are incorporated in the UK or if their central management and control is located in the UK. As a result, these companies are subject to taxation on their worldwide income, with potential relief available under double taxation agreements (DTAs).
UK legislation allows for the establishment of Private Limited Companies (Ltd) and Limited Liability Partnerships (LLP), both of which are widely used for international investment and trade activities.
Features
-
Directors: The directors of a company can be of any nationality and can reside anywhere. At least one director is required.
-
Shareholders: The shareholders of a company can also be of any nationality and can reside anywhere. At least one shareholder is required, and this may be the same person as one of the directors. There is no upper limit to the number of shareholders, and a shareholder can be either a person or a corporation.
-
Registered Office: The company must have a registered office in the United Kingdom. However, a registered agent is not required, and a company secretary is optional for private limited companies (though required for public limited companies).
-
Public Registry: The details of the shareholders (for public companies) and directors appear in a public registry that is fully accessible.
-
Accounting Records: The company must maintain accounting records, but these do not have to be physically maintained in the United Kingdom. However, the records must be accessible to authorities, and the company must file annual accounts with Companies House.
UK companies are highly recommended in the following cases:
-
Holder of bank accounts, fixed deposits, investment plans and any other financial or commercial title
-
Owner of the shares of other companies or legal entities
-
International leasing of aircraft, vehicles, machinery and others
-
Borrow or lend money, pay or receive commissions, royalties or others
-
Marketing and promotion of products and services
-
Exploit the vast network of double taxation treaties
Basic Pricing for UK Companies
Company registration: US$350.00
Renewal: US$350.00
Optional services and fees
-
Apostille per document (standard): US$247.00
-
Apostille per document (express): US$513.50
-
Notarization of documents: Depends on the documents
-
General power (if CLD provides the director): US$250.00
-
Nominee director (annual): US$500.00
-
Nominee shareholder (annual): US$500.00
-
Courier: From US$100.00
-
Bank accounts: Case by case
-
Certification of the registry: US$200.00
-
Resolutions after incorporation: US$175.00
Note: Nominee directors and nominee shareholders are provided by our Panama office. Should you require nominees to be provided in the UK, please inform us accordingly.
For more information or tailored assistance, our team is ready to guide you through the benefits and opportunities of UK companies.