Types of Business Entities in Andorra

• public limited company, cat. Societat anonima – SA. The capital is divided into shares, minimum capital is EUR 60 000;
• private limited company, cat. Societat de responsabilitat limitada – SL. The capital is divided into participations, minimum capital is EUR 3 000. At least two shareholders are required for SL.

Andorra is known for its attractive tax conditions:

• Corporate tax: 10% for most companies - which is significantly lower than in most EU countries.
• Value Added Tax (VAT): 4.5% - one of the lowest in Europe.

Benefits of doing business

• Complete confidentiality - In Andorra there is no obligation to disclose information about company owners
• No tax on dividends, subject to certain conditions
• No tax on income received outside the country
• Andorra is located in the center of Europe, which makes the country convenient for doing business in the EU and access to the markets of European countries.
• Ease of registration and obtaining permits.

The laws of Antigua and Barbuda provide for incorporation of the following types of companies:

1. International Business Corporation (IBC) - may be both subject and not subject to licensing
2. International Limited Liability Company (ILLC) - that is a domestic private or public company formed for the purpose of conducting business in or from Antigua and Barbuda.

The most popular form of business for foreign investors and entrepreneurs is the International Business Company (IBC).
IBC companies are exempt from taxes on profits unless they conduct business in Antigua and Barbuda. It also provides a high level of privacy, as shareholders and directors are not required to disclose their personal information.
Benefits of doing business in Antigua and Barbuda:

• No income tax for companies operating outside of Antigua and Barbuda.
• No income tax on capital gains
• Low tax rates for businesses operating within the country - 25% on profits
• High level of confidentiality - IBC companies can use nominee directors and shareholders
• Antigua and Barbuda is part of the Caribbean region, which gives access to the markets of the US, Canada and other countries in the region

Australia is one of the most stable, transparent and developed economies in the world, a member of the G20. It offers entrepreneurs high protection of rights, access to international markets and government support for innovation.
Australian laws provide for incorporation of the following types of companies:
• Proprietary Company Limited by Shares;
• Public Company;
• Public Company Limited by Guarantee;
• Partnership;
• Branch of a foreign company.
The most popular and widespread form is a Proprietary Company Limited by Shares. This form is ideal for startups, online businesses, consulting companies, any small- and medium-sized enterprises.
Benefits of doing business in Australia:

• One of the most reliable jurisdictions in the world (AAA rating, continuous GDP growth for over 30 years in a row)
• Simplified reports for small businesses
• A wide range of international agreements, including CPTPP, FTA with China, Agreements with Japan and South Korea. This opens access to the largest global markets.
• The standard corporate tax rate is 30%, however, for small and medium-sized businesses with a turnover of up to $50 million AUD the tax is only 25%.
• Australia has bilateral tax treaties with more than 40 countries, which helps to avoid double taxation.

Austrian legislation provides for the possibility of incorporation of the following types of legal entities:

• general partnership and limited partnership;
• limited liability company (GmbH);
• joint-stock company (AG);

The most popular and widespread form is a limited liability company (GmbH). The minimum capital requirement is €10 000, of which at least 50% must be paid in at the time of registration.
Advantages of doing business in Austria:

• The standard corporate tax rate is 23%. This is a competitive rate compared to other EU countries
• The standard VAT rate in Austria is 20%. However, there are reduced rates of 10% and 13% that apply to certain goods and services
• Austria has double taxation agreements with more than 90 countries, making it attractive for international business.

The legislation of the Bahamas provides for the possibility of creating the following types of legal entities:

• International Business Company;
• Limited Company;
• General Partnership and Limited Liability Partnership;
• Trusts;
• Foundations

For offshore purposes, the most popular and widespread form is the International Business Company (IBC), especially for international trading and consulting services.
IBCs are ideal for businesses that operate outside of the Bahamas and do not engage in domestic business activities.
Benefits of Doing Business in the Bahamas:

• No Income Taxes: There are no taxes on profits, capital gains, or dividends for international business companies operating outside of the Bahamas.
• Confidentiality: The Bahamas does not require public disclosure of company owners or directors.
• The Bahamas is located in the Caribbean, giving companies access to markets in the United States, Latin America, and Europe
• The Bahamas has a stable and predictable business environment with little regulation or bureaucracy

The laws of Belgium provide for the possibility of creating the following legal entities:

• Limited Partnership (Ordinary Limited Partnership - SCS/GCV);
• General Partnership (SNC/VOF);
• Private Limited Liability Company (SPRL/BVBA);
• Public Limited Liability Company (SA/NV).

The most popular form of doing business for foreign entrepreneurs is a Private Limited Liability Company (SPRL/BVBA). The minimum capital required for this type of business is USD 18,550. Of the total capital, at least USD 6,200 must be paid up and deposited into the business account of the company.
Benefits of doing business in Belgium

• The standard corporate tax rate is 25%
• The standard VAT rate is 21%. For certain goods and services, the rate can be 12% or 6%.
• Belgium has double taxation agreements with more than 90 countries, which is beneficial for international business.
• Belgium actively supports innovation and start-ups, providing various subsidies, grants and tax incentives for research and development.

The legislation of Belize provides for the possibility of creating the following legal forms of offshore companies:

• General or Limited Partnership;
• Private Company;
• Public Investment Company;
• International Business Company;
• Trust Fund

The most popular form of doing business for foreign entrepreneurs is an International Business Company (IBC). Companies registered as IBCs can engage in international trade and provide services in foreign markets without being subject to taxes on profits or dividends.
Advantages of doing business in Belize:

• Belize provides a high level of confidentiality for business. Registration data, including the names of directors and shareholders, are not publicly available.
• No taxes on profits, capital gains, dividends or other taxes for businesses that operate outside of Belize.
• There is no requirement to provide financial statements or conduct audits.
• There are no requirements for the minimum amount of declared and issued capital, nor are there any requirements for the timing of its payment.

The British Virgin Islands (BVI) is well known as a leading offshore jurisdiction!

The British Virgin Islands Business Companies Act provides for the possibility of creating the following legal forms:

• Company limited by shares;
• Company with unlimited liability, without the right to issue shares;
• Company with unlimited liability with the right to issue shares;
• Trusts and others.

The most common legal form of a commercial company is a company limited by shares - "BC" or "BCA" (Business Companies Act company).
Benefits of doing business in the BVI:

• No corporate tax, tax on capital gains, tax on dividends, inheritance tax (for companies operating outside of the BVI).
• No mandatory audit or reporting (unless there is a physical presence or business in the BVI).
• Confidentiality - the BVI has strict privacy laws. No mandatory publication of information on beneficiaries and no public register of shareholders and directors.

The BVI is one of the most stable and respected offshore jurisdictions with decades of experience.

Bulgaria has a favorable tax regime, and is a member of the European Union
Bulgarian legislation provides for the possibility of creating the following types of legal entities:

• Collective partnership (SD);
• Limited partnership (KD);
• Limited liability company with two or more shareholders (OOD);
• Limited liability company with one shareholder (EOOD);
• Joint-stock company (AD).

The most popular and widespread forms are Limited liability company with two or more shareholders (OOD) and Limited liability company with one shareholder (EOOD).
The minimum share capital of a Bulgarian limited liability company is 1 BGN.
Advantages of doing business in Bulgaria:

• Low taxes: Corporate tax - 10% (one of the lowest in the EU). Dividend tax - 5%.
• Access to the EU single market (no customs barriers)
• Possibility of obtaining a European VAT number
• Information on beneficiaries is required and published, but Bulgaria is less demanding than other EU countries
• No mandatory audit or reporting

The following forms of business organization are available in Canada:

• General Partnership
• Limited Partnership (LP)
• Limited Liability Partnership (LLP) - used mainly for professional services (lawyers, accountants, etc.).
• Corporation - the most popular form

A limited liability company (Corporation) can be created at the federal and provincial level.
Federal registration allows the business to operate under one name in all provinces and territories, but it is more expensive and more complicated.
Provincial registration is simpler and more suitable for owners of businesses related to e-commerce.
For offshore purposes, the most popular and widespread forms in Ontario are the Extra-provincial Corporation and Limited Partnership.
Benefits of doing business in Canada:

• Canadian companies are taxed on their worldwide income, non-resident companies are taxed on Canadian-source income.
• No minimum amount of declared and issued capital
• Double tax treaties with over 90 countries
• International treaties (e.g. USMCA/CUSMA) provide businesses in Canada with access to the US and Mexican markets.

The legislation of the Cayman Islands provides for the possibility of incorporation of the following legal entities:

• Ordinary Resident Company - designed for businesses in the Cayman Islands.
• Ordinary Non-Resident Company;
• Exempted Company - designed for conducting business activities outside the Cayman Islands;
• Limited Partnership;

For offshore purposes, the most popular and widespread form is the Exempted Company. It is subject to no annual reporting requirements for public disclosure and provides full exemption from taxes on profits, capital gains and dividends.
To conduct business in the banking sector, trust sector, company management, etc., it is necessary to obtain a license.
Advantages of doing business in the Cayman Islands:

• No corporate taxes, as well as taxes on capital gains and dividends.
• Confidentiality - the Cayman Islands have strict privacy laws. Personal information of shareholders and directors is not subject to mandatory public disclosure.
• Low minimum capital requirements.
• Freedom to transfer funds in any currency and to any jurisdiction.

Main organizational and legal forms of companies in China include:

• Wholly Foreign-Owned Enterprise (WFOE / WOFE) is a type of legal entity in China that is wholly owned and managed by foreign investors. WFOEs are created for the purpose of conducting business operations in China and are subject to the Chinese laws and regulations. Such companies can be engaged in manufacturing, trading, services.
• Joint Venture (JV) - Joint venture with a Chinese partner.
• Representative Office (RO) - a limited liability company established by a foreign company to conduct marketing research, maintain relationships and promote products in China. ROs are not allowed to engage in direct commercial activities such as sales and profit-making, but can support their parent companies by performing marketing and administrative tasks.
• Free Trade Zone Company (FTZ Company) - companies registered in one of the Free Economic Zones of China and used for international trade and logistics.

Wholly Foreign-Owned Enterprise (WFOE) is the most commonly used business form for foreign investors.
Benefits of doing business in China;

• Huge domestic market
• Developed manufacturing and logistics infrastructure
• Chinese companies pay income tax on their worldwide income, while foreign companies pay income tax on income from sources in China
• There is no open company registry in China
• Participation in international trade - WTO member, many free trade agreements

Features and restrictions

• Complex registration and licensing process
• Capital controls and currency restrictions
• Tight regulation in some sectors

Costa Rica is not an offshore zone. The country has generally favorable conditions for doing business and offers various tax and legal incentives for companies, but does not provide the same level of tax and legal advantages as the British Virgin Islands or Panama.

The legislation of Costa Rica provides for the possibility of creating the following types of legal entities:

• Limited Liability Company (Sociedad de Responsabilidad Limitada);
• Public Limited Company (Sociedad Anónima);
• Costa Rica Public Limited Liability Company (Sociedad Anónima Abierta; S.A.A.);
• Limited Partnership (Sociedad en Comandita Simple; Sociedad Comandita);
• General Partnership (Sociedad en Nombre Colectivo; Sociedad Collectivo);

The most popular form of doing business for foreign entrepreneurs is a Public Limited Company (Sociedad Anónima).
Advantages of opening a company in Costa Rica:

• Income from activities carried out outside of the territory of Costa Rica is not subject to taxes;
• There is no state register of beneficiaries;
• The register of shareholders is not publicly available;
• No requirements for economic presence (but it can be organized if necessary).
• Participation in CAFTA-DR agreements, agreements with the EU and other countries
• A convenient hub for doing business with the USA and Latin America

Main legal forms of companies

• d.o.o. (Društvo s ograničenom odgovornošću) — Limited Liability Company
• j.d.o.o. (Jednostavno društvo s ograničenom odgovornošću) — Simplified LLC
• d.d. (Dioničko društvo) — Joint-Stock Company

Limited Liability Company (d.o.o.) — the most common and universal form used by both foreigners and residents. Because of moderate capital and reporting requirements, the jurisdiction is suitable for IT, trade, investment, services.
Advantages of doing business in Croatia

• EU and Eurozone membership - Access to the single European market
• Low start-up capital: for d.o.o. — from 2,500 HRK (~330 EUR), for j.d.o.o. — from 10 HRK (~1 EUR)
• Flexible tax system: Corporate tax — 10% (for annual income < 1 million EUR) or 18% (if more); VAT — 25% (basic rate), with an exemption for small businesses up to 40,000 EUR

The legislation of Cyprus provides for the possibility of establishing the following organizational and legal types of companies:

• Private company limited by shares,
• Exempt private company,
• Public company limited by shares,
• General partnership,
• Limited partnership,
• Trust

The most popular and widespread form is a Private company limited by shares. It is suitable for any type of business, 100% foreign ownership is permitted, as well as participation of nominal directors and shareholders. Optimal for holdings, IT, consulting, trading. Subject to audit and filing of financial statements.
Advantages of doing business in Cyprus:

• Low corporate tax rate - 12.5%. One of the lowest in the EU
• Exemption from tax on dividends under certain conditions
• No tax on capital gains for non-residents when selling shares
• EU membership and access to the European market
• Possibility to use nominee shareholders and directors
• Large list of countries with which tax treaties have been signed

The legislation of the Czech Republic provides for the possibility of incorporation of the following organizational and legal forms:

• Joint-Stock Company;
• Limited Liability Company;
• Public Trading Company;
• Limited Partnership.

The most popular and widespread form is a limited liability company. The minimum share capital of a limited liability company in Czechia must be 1 CZK. It is suitable for small and medium businesses, including IT, trade, consulting and startups.
Advantages of doing business in the Czech Republic:

• EU membership - Direct access to the EU market
• Moderate taxation: Corporate tax - 19%, VAT - 21% (reduced rates of 10% and 15% are available), no tax on dividends within the EU (subject to conditions)
• Favorable geographical location in the heart of Europe
• Excellent logistics and transport network

Denmark is one of the most stable and transparent economies in Europe, with a high level of digitalization, a convenient electronic business management system, and strict but clear regulatory standards.
The legislation of Denmark provides for the possibility of creating the following legal entities:

• Private Limited Liability Company (Anpartsselskab, ApS);
• Public Limited Liability Company (Aktieselskab, A/S);
• Simple Partnership (Interessentskab, I/S);

The most popular and widespread form is the Private Limited Liability Company (Anpartsselskab, ApS). This is a universal choice for both domestic and foreign entrepreneurs. It is suitable for IT, trade, investment, consulting, startups and even small industries. Minimum authorized capital is 40,000 DKK (~5,400 EUR).
Benefits of doing business in Denmark

• Almost all registration and administrative procedures are available online
• Legislation is based on European and Scandinavian principles of fairness
• EU and Schengen membership provides access to the single market, as well as simplified logistics
• Tax transparency and moderate rates: corporate tax is 22%, non-resident companies pay income taxes on gains from sources originated in Denmark.
• Strong reputation -Danish companies are associated with trust and sustainability

The legislation of Estonia provides the possibility of incorporation of the following legal forms:

• General Partnership
• Limited Partnership
• Private Limited Company
• Public Limited Company

The most popular and widespread form is a Private Limited Company. It offers a possibility to start without contributing capital and is ideal for full foreign ownership. It also allows conducting international business remotely.
Advantages of doing business in Estonia

• Low taxes - Estonia has a corporate tax rate of 20%, which is relatively low compared to other countries in the European Union
• No tax on dividends, with the exception of certain cases of dividends paid to individuals
• EU membership - Estonia is a member of the European Union and the Eurozone, which provides access to a large unified market and a stable business environment
• The reliability, innovation and transparency of Estonian businesses are recognized all over the world

The legislation of Finland provides for the possibility of creating the following legal entities:

• Osakeyhtiö (Oy) — Limited Liability Company
• Avoin yhtiö (Ay) — General Partnership

The most popular form of doing business is Osakeyhtiö (Oy). It is completely suitable for foreign founders.
Advantages of doing business in Finland

• Transparent and stable legal system - High level of protection of owners' rights
• Membership in the EU and the Eurozone - Free movement of goods, capital and services, as well as simplified export and cooperation in Europe
• Tax rates and regimes: Corporate tax is 20% (average across Europe)
• Dividends are taxed at different rates depending on the ownership structure
• Companies from Finland are perceived as highly reliable

There are several forms of doing business in France. The main ones are:

• SAS (Société par Actions Simplifiée) - Simple joint-stock company
• SARL (Société à Responsabilité Limitée) - Limited Liability Company
• SA (Société Anonyme) - form for large companies with minimum capital from 37,000 EUR.
• EURL (Entreprise Unipersonnelle à Responsabilité Limitée) - Analogue of SARL with one founder.

The most popular form is SAS (Société par Actions Simplifiée). It offers flexibility in management (no strict requirements for the management structure), is suitable for both one and several founders and has no audit requirements for small turnover.

Benefits of doing business in France

• Access to the EU market: France is a member of the European Union and the Schengen area, which gives direct access to 450+ million consumers.
• Developed infrastructure: High quality roads, transport, telecommunications and logistics.
• Country image: France is associated with quality, style and a high standard of living.
• Stable legal system: Transparent business rules, legal protection of investors.

The legislation of Germany provides for the possibility of creating the following legal entities:

• Limited Liability Company (GmbH)
• Stock Company (AG)
• European Stock Company (S.E.)
• Entrepreneurial Company (UG haftungsbeschränkt)
• Open Trading Partnership (OHG)
• Limited Partnership (KG)
• Limited Partnership with Limited Liability (GmbH & Co. KG)
• Private Foundation (Stiftung).

The most popular and widespread form is a Limited Liability Company (GmbH). It requires an authorized capital of at least 25,000 EUR, but it is also possible to start with 12,500 EUR with partial payment).

Advantages of doing business in Germany

• The largest economy in the EU: Germany is the economic heart of Europe with a high level of GDP and industrial production. It provides direct access to all countries of the European Union.
• Resident companies are taxed on their worldwide income, while non-residents are taxed on their German-source income.
• Currently, the corporate tax rate in Germany is 15% for taxable income up to €1 million and 25% for taxable income over €1 million.
• Prestige and trust: German companies are considered reliable, which helps in partnerships and attracting clients.

Despite its favorable tax laws, Gibraltar is not considered an offshore financial center, as some other countries are.

Legal forms of companies in Gibraltar include:

• Private Limited Company (Ltd)
• Partnership;
• Limited Liability Partnership;
• Company Limited by Shares;
• Trust;
• Non-resident Company.

The most popular option in Gibraltar is a Private Limited Company.
For offshore purposes, it is recommended to use a Gibraltar non-resident company. The activities of such companies are regulated by the laws of Gibraltar, and its management is carried out from abroad. The company has no right to conduct commercial activities in Gibraltar and target residents of Gibraltar. If all requirements are met, an offshore company is by definition not subject to taxation in Gibraltar and registration with the Gibraltar tax authorities. This also means that, unlike a tax-exempt company, a non-resident company cannot be considered a taxpayer in Gibraltar under any circumstances.
Advantages of registration in Gibraltar:

• Gibraltar imposes income tax on income earned in Gibraltar, and does not impose tax on foreign income. The income tax rate is 15%.
• Capital gains and dividends are not taxed. There is no VAT
• Cryptocurrency companies can receive local licenses and operate in a regulated environment.
• Strategic location. Gibraltar is located at the crossroads of Europe and Africa, which makes it a geographically advantageous hub for companies operating in these regions
• Excellent infrastructure for international business and legal support.

The legislation of Greece provides for the possibility of creating the following legal entities:

• Company Limited by Shares (A.E.);
• Limited Liability Company (E.P.E.);
• General Partnership (O.E.);
• Limited Partnership (E.E.)

The most popular form of company formation for foreign investors is a Company Limited by Shares (A.E.). Although this type of company was initially introduced to create large corporations, it is currently the most flexible and advantageous form of doing business in Greece.
The main advantages of A.E. include limited liability of shareholders, free transfer of shares, separation of management and share ownership, and tax benefits.
The minimum authorized capital of A.E. is 24,000 EUR and must be fully paid within two months from the date of registration of the company.
Benefits of doing business in Greece

• Corporate income tax is 22%.
• Dividend income is taxable. However, if certain conditions are met, including a minimum 10% stake in an EU company and ownership for at least 24 months, dividends may be tax-exempt.
• Tax rates are reduced in accordance with double taxation agreements and EU directives.
• Direct access to EU markets, no currency risks within the euro area.

Hong Kong offers a unique combination of transparency and tax benefits, making it an ideal location for international companies.
Offshore companies in Hong Kong are often used for tax minimization and confidentiality purposes.
Hong Kong is considered an offshore jurisdiction for foreign trade activities, as companies carrying out business outside of Hong Kong are not subject to income tax.

The legislation of Hong Kong provides for the possibility of creating the following legal types of companies:

• Private Limited Company (Ltd) - No requirements for authorized capital (can be from HKD 1)
• Private Company Limited by Shares;
• Public Company Limited by Shares;
• Simple Partnership;
• Limited Partnership;
• Branch;
• Representative Office;
• Trust.

The most popular and suitable form of doing business for foreign entrepreneurs is a Private Company Limited by Shares.
Benefits of Doing Business in Hong Kong

• Hong Kong's legal system is completely independent from that of mainland China
• Hong Kong can be considered an offshore jurisdiction if a company operates outside of Hong Kong and China. In this case, Hong Kong has no sales tax, value added tax or capital gains tax.
• Hong Kong companies are only taxed on profits earned in Hong Kong, and there is no tax on capital investment or dividends.
• Hong Kong is a gateway to mainland China and Asia, making it an ideal location for businesses looking to tap into the region's vast market potential.

The legislation of Hungary provides for the possibility of incorporating the following types of legal entities:

• Unlimited Partnership (Kkt.);
• Limited Partnership (Bt.);
• Limited Liability Company (Kft.);
• Company Limited by Shares (Rt.)

The most popular and widespread form of business formation in Hungary is a Limited Liability Company.
Benefits of doing business in Hungary

• Corporate tax rate in Hungary is only 9% — the lowest in the European Union.
• Non-resident companies pay taxes on income earned in Hungary.
• Dividends, interest and royalties paid to a non-resident company are not subject to taxation.
• Direct access to EU single market, possibility of obtaining a VAT number.
• Convenient logistics, access to the markets of both Eastern and Western Europe.
• It is not necessary to have local directors — foreigners can be sole owners and managers.

The legislation of Iceland provides for the possibility of incorporating the following types of legal entities:

• Sameignarfélag (sf.) - Partnership;
• Samvinnufélag (svf.) - Cooperative Society;
• Einkahlutafélag (ehf.) - Private Limited Company;
• Hlutafélag (hf.) - Public Limited Company;
• Skráð útibú - Branch of a Foreign Company.

The most popular and widespread form is a Private Limited Company.

Benefits of doing business in Iceland

• For resident companies income tax is calculated based on their worldwide income, and for non-resident companies - only on their income originating from sources in Iceland.
• Moderate taxation: Corporate tax rate is 21% (one of the lowest rates in Western Europe)
• Dividend tax rate is 20% (with possible reduction under double taxation agreements)
• Low cost of electricity (especially for data centers, mining, manufacturing companies)
• Access to EU single market, even without formal EU membership

The legal system of India is based on English common law. Therefore, the legislation of India provides for the possibility of incorporating the following types of legal entities:

• Partnership;
• Limited Liability Partnership;
• Private Limited Company;
• Public Limited Company;
• Liaison Office/Representative Office;
• Branch of a Foreign Company.

The most popular and widespread form is a Private Limited Company. The minimum amount of declared capital is 100 INR with mandatory annual reporting and audit. It is most suitable for startups, IT and scalable businesses.
Limited Liability Partnership (LLP) is suitable for firms providing consulting services, small businesses and has fewer reporting requirements than Private Limited Companies.

Advantages of doing business in India

• Indian companies pay corporate income tax on their worldwide income, while foreign companies pay corporate income tax on their Indian-source income.
• The basic corporate income tax rate for Indian companies is 25%.
• Huge domestic market with over 1.4 billion consumers, especially active in digital segment.
• Developed IT infrastructure - India is a world leader in outsourcing, innovation and overall number of startups.
• Double Taxation Agreements (DTA) signed with over 90 countries.

Indonesia is considered a promising market for international business due to its large population and growing economy.

The legislation of Indonesia provides for the possibility of incorporating the following types of legal entities:

• Domestic Company Limited by Shares (PT PMDN).
• Company with Foreign Investment Limited by Shares (PT PMA) - The most common form for foreigners.
• Representative Office of a Foreign Company (KPPA) without the right to conduct commercial activities (only marketing, market research, connections with HQ).

The most popular form is PT PMA (Company with Foreign Investment Limited by Shares). This is the standard form of doing business for foreigners with permission to engage in full commercial activities.

The company's authorized capital must be denominated in Indonesian rupiah. The minimum amount of the declared authorized capital is 10 billion IDR.

Benefits of Doing Business in Indonesia

• A flat corporate tax rate of 22% generally applies to net taxable profits.
• However, special tax regimes apply for certain taxable items or industries.
• Dividends, interest and royalties paid to non-residents of Indonesia are subject to a basic withholding tax rate of 20%. The rate may be reduced under double taxation treaties.
• Large domestic market of over 275 million people with a rapidly growing middle class.
• Participation in ASEAN and RCEP provides access to markets in Southeast Asia and Asia as a whole.

Ireland offers a combination of low taxes, access to the EU single market, and a favorable business climate.
Ireland is not considered a tax haven, but still has a favorable tax regime for companies.

The legislation of Ireland provides for the possibility of incorporating the following types of legal entities:

• Limited Partnership;
• Private Company Limited by Shares;
• Public Company Limited by Shares;
• Unlimited Company;
• Branch of Foreign Company.

The most popular and widespread form is a Private Company Limited by Shares.

Advantages of doing business in Ireland

• Tax residents pay tax on worldwide income, non-residents - only on income originating from sources in Ireland.
• Attractive tax regime - Ireland offers a low corporate tax rate of 12.5%.
• Minimum capital requirement is 0.01 EUR, but most commonly is 1 EUR. For companies with several shareholders it increases to 0.02 EUR, but most commonly 2 EUR.
• Filing of financial statements is mandatory even for small companies.
• Access to the EU single market, while Ireland is a member of the European Union.
• Ireland has an extensive network of double taxation agreements with other countries.

There are several types of legal entities that can be registered in Israel:

• Limited Liability Company (Hevra Baam) - the only type of company that a foreign citizen can register in Israel. The minimum authorized capital is 10,000 ILS.
• Public Company (Joint Stock Company or Hevra Tziburit) - more time- and capital-demanding.
• Cooperative (Aguda Shitufit).

It is also possible to open Branches of foreign companies and Subsidiaries of foreign companies in Israel in one of the forms listed above.

Private Limited Company (Ltd) is the most preferred form for both small, medium and large enterprises, especially in the technology sector. It provides protection of the personal assets of the founders, limited liability and management flexibility.

Advantages of doing business in Israel

• Flexible tax policy, including benefits for new immigrants, innovative companies and exporters.
• Free Trade Agreements signed with the USA, EU, Canada, Great Britain and others.
• Access to venture capital of local and international venture investors.

There are several types of legal entities that can be registered in Israel:

• Limited Liability Company (Hevra Baam) - the only type of company that a foreign citizen can register in Israel. The minimum authorized capital is 10,000 ILS.
• Public Company (Joint Stock Company or Hevra Tziburit) - more time- and capital-demanding.
• Cooperative (Aguda Shitufit).

It is also possible to open Branches of foreign companies and Subsidiaries of foreign companies in Israel in one of the forms listed above.

Private Limited Company (Ltd) is the most preferred form for both small, medium and large enterprises, especially in the technology sector. It provides protection of the personal assets of the founders, limited liability and management flexibility.

Advantages of doing business in Israel

• Flexible tax policy, including benefits for new immigrants, innovative companies and exporters.
• Free Trade Agreements signed with the USA, EU, Canada, Great Britain and others.
• Access to venture capital of local and international venture investors.

In Italy there are two types of companies: Societies (companies with a share capital) and Partnerships.
Societies:

• Società a Responsabilità Limitata, S.R.L. is similar to a Limited Liability Company;
• Società per Azioni, S.p.A. is similar to a Joint Stock Company;
• Società a Responsabilità Limitata Semplificata, S.R.L.S. - Simplified Limited Liability Company.

Partnerships:

• Partnership with unlimited liability (Società in nome collettivo, S.N.C.) - all partners have full liability;
• Limited Liability Partnership (Società in accomandita semplice, S.A.S.) - no minimum share capital requirements, no mandatory audit requirements, a "Virtual Office" is sufficient.

S.R.L. is the most popular type of company in Italy, as it is suitable for setting up small and medium-sized enterprises. Shareholders are liable to the extent of their contribution to the share capital. Minimum share capital requirement is only 1 EUR.

Advantages of doing business in Italy

• EU and Eurozone membership with full access to the EU single market, simplified movement of goods, services and capital.
• Developed industrial base with strong automotive, energy and fashion sectors.
• Infrastructure and logistics are highlighted by developed transport corridors, seaports, and access to both Southern and Eastern Europe.

The legislation of Latvia provides for the possibility of incorporating the following types of legal entities:

• Limited Liability Company (LLC) - Sabiedrība ar Ierobežoto Atbildību (SIA);
• Joint Stock Company (JSC) - Akciju Sabiedrība (AS);
• General Partnership - Pilnsabiedrība (PS);
• Individual Entrepreneur (IE) - Individuālais Komersants (IK);
• Peasant, Fishing Farms - Zemnieku, Zvejnieku Saimniecības (ZS).

Most companies in Latvia are SIAs (LLCs), since this legal form is considered the most convenient for any type of business. Minimum capital requirement is 1 EUR.
Benefits of doing business in Latvia

• Low corporate tax – 0% on retained earnings. The corporate income tax rate is 20%. Corporate income tax is not paid until dividends are distributed.
• Flexible tax system – VAT from €40,000 turnover per year, although you can voluntarily register earlier.
• Full access to the EU single market – free movement of goods, capital and services.
• Developed infrastructure and logistics – sea ports, airport in Riga, access to Scandinavia and Eastern Europe.

Liberia has been one of the international centers of offshore business for over 30 years. Economic legislation is aimed at encouraging private entrepreneurship and attracting foreign investment.

The legislation of Liberia provides for the possibility of incorporating the following types of legal entities by foreigners:

• Limited Liability Company - Flexible structure, suitable for small businesses and investment schemes;
• Partnership;
• Limited Partnership;
• Non-resident Corporation - Standard offshore company used for holdings, shipping, trade;
• Trust;
• Foundation.

The most popular and widespread form for registration is a Non-resident Corporation. It is not subject to taxes, provided that the activities are carried out outside of Liberia. It offers a possibility of using nominee directors and shareholders.

Benefits of Doing Business in Liberia

• Zero income tax rate for non-resident companies not engages in business activities in Liberia.
• Confidentiality – the laws of Liberia do not require disclosure of information about shareholders, directors and officers of the company.
• There are no requirements for minimum and maximum authorized capital.
• World-class shipping – Liberia is one of the world's leading ship registration countries.

The legislation of Lithuania provides for the possibility of incorporating the following types of legal entities:

• Joint-stock company (Akcinė bendrovė, AB)
• Closed joint-stock company (Uždaroji akcinė bendrovė, UAB)
• General partnership (Tikroji ūkinė bendrija, TŪB)
• Limited partnership (Komanditinė ūkinė bendrija, KŪB)

The most popular form of business is UAB (Closed joint-stock company). It is the most universal legal form in Lithuania, especially for small and medium-sized businesses.
Advantages of doing business in Lithuania

• Competitive taxes: Corporate tax rate is 16% with reduced rate of 5% for small businesses (up to €300,000 and less than 10 employees).
• 0% tax rate on dividends between EU companies, if all conditions are met.
• Access to EU licenses, especially in fintech (EMI, PI, crypto).
• EU and Eurozone membership with direct access to the single European market.

Luxembourg is not considered an offshore jurisdiction. Although it offers attractive tax and business opportunities for companies, it is not considered an offshore center and does not offer the same level of tax secrecy or minimal regulation as actual offshore jurisdictions.

The legislation of Luxembourg provides for the possibility of incorporating the following types of legal entities:

• Private Limited Liability Company (Société à Responsabilité Limitée, SARL) - Minimum capital - €12,000;
• Joint Stock Company (Société Anonyme, SA) - Minimum capital - €30,000;
• General Partnership (Société en Nom Collectif);
• Partnership limited by Shares (Société en Commandite par Actions);
• European Company (Société Européenne);
• SOPARFI (Sociétés de participation financière) – financial holding company;
• SIF (Specialized Investment Fund);
• Branch.

The most popular forms of doing business for foreign investors include Private Limited Liability Company (Société à Responsabilité Limitée or SARL) and Joint Stock Company (Société Anonyme or SA).

Benefits of doing business in Luxembourg

• Tax advantages: Corporate tax rate of ~24.94% (but the effective rate can be reduced taking into account possible deductions).
• Exemption from tax on dividends and capital gains subject to holding conditions (Soparfi).
• Confidentiality and asset protection – high protection of the interests of shareholders and investors
• Prestige and reputation – Luxembourg is a country with a high level of legal protection, transparency and regulation.
• The world center of investment funds: UCITS, AIF, RAIF and other forms.
• A wide network of tax treaties – more than 80 agreements on the avoidance of double taxation.

Macau is not considered a classic offshore jurisdiction, unlike traditional offshore financial centers. Macau is a special administrative region (SAR) of China with a high degree of autonomy.

The legislation of Macau provides for the possibility of incorporating the following types of legal entities:

• Unlimited Liability Company;
• Mixed Liability Company by Quotas;
• Mixed Liability Company by Shares;
• Limited Liability Company by an Individual Quota;
• Limited Liability Company by Quotas;
• Limited Liability Company by Shares.

The most popular form of doing business for foreign entrepreneurs is a Limited Liability Company by Quotas.
Advantages of doing business in Macau

• Low taxes: Income up to MOP 600,000 (~USD 75,000) is subject to 0% tax; income above this amount is taxed at the corporate tax rate of 12%.
• In Macau, there is no withholding tax that would be levied by local companies when paying income to foreign companies.
• Financial reporting is mandatory, but auditing is required only if certain turnovers are exceeded.
• Favorable location close to Hong Kong and in the heart of the Greater Bay Area
• Free access to the Chinese market

Malta is a member of the European Union and is subject to EU tax and commercial legislation. Companies registered in Malta can benefit from the country's favorable tax regime, which includes low corporate tax rates and a tax refund system for foreign companies.

The legislation of Malta provides for the possibility of incorporating the following types of legal entities:

• General Partnership (Partnership en Nom Collectif);
• Limited Partnership (Partnership en Commandite);
• Limited Liability Company;
• Branch of a Foreign Company;
• Trust;
• Foundation;
• Association.

A Private Limited Liability Company (Ltd) is the most popular form of doing business in Malta. It is easy to manage, limits the liability of the owners and provides flexibility in terms of capital and shareholding. It is an ideal option for small and medium-sized businesses, as well as for start-ups that want to minimize their risks.

Advantages of doing business in Malta

• The corporate tax in Malta is 35%. However, by using the refundable tax credit system, companies can actually get back up to 6/7ths of the tax paid, making the effective tax rate around 5%.
• Malta also has many double taxation treaties with other countries, reducing the tax burden for international companies.
• Malta is strategically located in the Mediterranean, making it convenient for doing business related to trade, transport and logistics.
• Malta actively supports blockchain and cryptocurrency startups, offering a transparent and regulated environment for working in these areas.

The Marshall Islands are considered an offshore jurisdiction. The country offers a number of perks for foreign investors, including tax advantages, privacy, and ease of setting up a business.

The legislation of the Marshall Islands provides for the possibility of incorporating the following types of legal entities:

• International Business Company (IBC);
• General Partnership;
• Limited Partnership;
• Limited Liability Company;
• Foreign Maritime Entity.

For offshore purposes, the most popular and widespread form of doing business in the Marshall Islands is the International Business Company (IBC). There are no minimum capital requirements for the Marshall IBC.

Benefits of Doing Business in the Marshall Islands

• No Taxes: there is no corporate tax, no income tax, no capital gains tax, no dividend tax, and no personal income tax in the Marshall Islands.
• Confidentiality: the legislation of the the Marshall Islands provides a high level of confidentiality for business owners. Information about beneficiaries and shareholders is not required to be publicly disclosed, ensuring the privacy of the business is protected.
• Minimum Capital Requirements: there is no minimum capital requirement to register a company, making the process of setting up a company easy.
• The Marshall Islands are known as one of the world's largest ship registrars, thus being a popular place to set up companies in the maritime business sector, including navy and international shipping companies.

The legislation of Mauritius provides for the possibility of incorporating the following types of legal entities:

• Private Limited Company;
• Public Limited Company;
• Authorised Company - as a general rule, operates outside of Mauritius
• Global Business Company (GBC) - is considered a resident and operates in Mauritius
• Partnership;
• Branch of a Foreign Company.

The most popular and widespread form is a Private Limited Company. For offshore registration, the most suitable form of company is Authorised Company.
Authorised Company also does NOT have the right to provide financial services and apply agreements on the avoidance of double taxation. The profit of such a company is not taxed. However, an offshore company is required to withhold PAYE tax at the rate of 15% on directors’ remuneration or other similar payments to non-resident directors, despite being considered exempt for tax purposes.

Advantages of Doing Business in Mauritius

• Low Income Tax: standard corporate tax rate in Mauritius is 15%, which is quite competitive compared to other jurisdictions.
• Companies that are tax residents of Mauritius are taxed on their worldwide income, while non-residents are taxed on their Mauritius-source income.
• Dividends from Mauritius companies are not taxed.
• There is no minimum capital requirement.
• The country has signed numerous double taxation treaties with over 40 countries, making it easier to do international business and protecting against double taxation.
• Mauritius provides a high level of confidentiality for shareholders and directors of the company. Information on beneficiaries and shareholders does not require disclosure at the state level.
• Mauritius is a strategically convenient location for companies seeking to operate in the African and Asian markets, especially given the free trade agreements with a number of countries and regions.

The legislation of Montenegro provides for the possibility of creating the following legal forms of business:

• Simple partnership (Ortačko Društvo, OD)
• Limited partnership (Komanditno Društvo, KD)
• Limited liability company (Društvo s Oraničenom Odgovornošću, DOO) - can engage in any legal business, with the exception of some industries that require special permission
• Joint stock company (Akcionarsko Društvo, AD)
• Subsidiary company (Subsidiary)

Limited liability company (d.o.o.) is the most popular and widely used form for registering companies in Montenegro. It is ideal for small and medium-sized businesses, as well as for start-ups. DOO allows entrepreneurs to limit their liability only to their contribution to the company's capital, which significantly reduces risks.

Benefits of Doing Business in Montenegro

• The income tax in Montenegro is 9%, making it one of the lowest taxed countries in Europe. This is beneficial for small and medium-sized companies.
• The dividend tax is also low at 15%.
• Montenegro has double taxation agreements with more than 40 countries, which simplifies doing business for international companies.
• Montenegro offers a high level of privacy for business owners. Information about the beneficiaries of the company is not disclosed at the state level, which protects the personal data of business owners and shareholders.
• Montenegro is not part of the European Union, but has signed many agreements with the EU, allowing local companies to enjoy advantages of trading with European countries.

The legislation of the Netherlands provides for the possibility of creating the following types of legal entities:

• Private Limited Liability Company (Besloten Vennootschap, B.V.);
• Public Limited Liability Company (Naamloze Vennootschap, N.V.);
• Cooperative (Coöperatief met wettelijke aansprakelijkheid / beperkte aansprakelijkheid / uitgesloten aansprakelijkheid, W.A. / B.A. / U.A.);
• Limited Partnership (Commanditaire Vennootschap, C.V.);
• Partnership (Vennootschap Onder Firma, VOF)

The most popular and widespread form is a Private Limited Liability Company (Besloten Vennootschap or B.V.). This is due to its flexibility, the ability to limit the liability of shareholders and low requirements for the authorized capital. B.V. is suitable for most businesses, from start-ups to larger companies.

Advantages of doing business in the Netherlands

• Dutch companies pay taxes on their worldwide income. The standard corporate tax rate is 25.8%. For companies with profits up to EUR 200,000, the tax rate is 19%.
• Withholding tax is levied on dividends at a rate of 15%. The tax may be reduced by applicable double tax treaties and EU directives.
• The Netherlands has double tax treaties with over 90 countries, which helps reduce taxes on international income.
• The Netherlands provides a high level of privacy for businesses, including protecting company data and its beneficiaries.
• The Netherlands is part of the European Union and offers access to the largest internal market in the world.
• The Netherlands is also a strong supporter of international trade, with a strategic location in Europe, including access to the North Sea and major ports, such as Rotterdam.

The legislation of New Zealand provides for the possibility of incorporating the following types of legal entities:

• Partnership;
• Limited Partnership;
• Private Limited Company (similar to Ltd);
• Public Company;
• Trust.

The most popular and widespread form is a Private Limited Company (Ltd). It is easy to register and manage and is suitable for various types of activities, including international trade and innovative start-ups.

Benefits of doing business in New Zealand

• New Zealand companies pay income tax on their worldwide income at a rate of 28%, foreign companies - on income from sources in New Zealand.
• Withholding tax on dividends can be 0% for a minimum 10% stake, 15% for a minimum 10% stake, and 30% otherwise.
• New Zealand has no minimum capital requirements.
• New Zealand is strategically located between Asia and America, making it a convenient hub for international trade and commerce.
• New Zealand actively supports innovation and start-ups, offering a variety of funding programs, grants, and tax incentives for new and promising companies, particularly in such sectors as technology, biotechnology, agriculture, and sustainable development.

Norway offers several different legal forms for business:

• Limited Liability Company (Aksjeselskap, AS)
• Joint Stock Company (Allmennaksjeselskap, ASA)
• Partnership (Ansvarlig selskap, ANS)
• Limited Partnership (Kommandittselskap, KS)

A limited liability company (AS) is the most popular form of business in Norway. It is suitable for most small and medium-sized companies, as it requires a low minimum share capital (30,000 NOK) and limits the owners' liability to their contribution to the company.

Advantages of doing business in Norway

• Norway has one of the most stable economies in the world
• The corporate income tax rate in Norway is 22%, which is competitive among European countries.
• Norway provides a high level of protection for property rights and business interests.
• Norway is an important trade hub in Northern Europe, and its companies have access to both the European Union and Scandinavian markets, which creates great opportunities for international business.

Panama is considered a tax haven and offshore jurisdiction, offering foreign investors various tax incentives and financial privacy.
Panama is one of the world's largest centers for ship registration. The establishment of a company that owns and operates a shipping business is often formalized in the form of a Panamanian Limited Liability Company (S.A.).
The legislation of Panama provides for the possibility of incorporating the following types of legal entities:

• Limited Liability Company (Sociedad Anonima);
• Simple Partnership (General Partnership);
• Limited Partnership;
• Civil Partnership;
• Commandite Company

The most popular form of doing business for foreign entrepreneurs is a Limited Liability Company - a closed joint-stock company (Sociedad Anonima).

Advantages of doing business in Panama

• Panama has a territorial tax system: only income generated in Panama is taxed.
• Income earned outside the country is not taxed.
• Profit tax is only 25% of profits earned in Panama.
• Dividends are withheld at a standard rate of 10%, with rates of 5% or 20% applied in some cases.
• Panama has a high level of confidentiality for company owners and shareholders. Information about owners, shareholders and directors of the company is not disclosed in public registries
• Panama is a strategic jurisdiction for companies wishing to access the Latin American and Caribbean markets.
• Panama is an important international transportation hub due to its location and the Panama Canal. This provides unique business opportunities in the areas of logistics, transportation and trade.

Poland offers several legal forms for doing business:

• Limited Liability Company (Sp. z o.o.)
• Joint Stock Company (S.A.)
• Partnership (Spółka Jawna i Spółka Komandytowa)

Limited Liability Company (Sp. z o.o.) is the most popular form of doing business in Poland. It is easy to manage, provides limited liability for owners and requires minimal capital to start. This form is suitable for most small and medium-sized enterprises, as well as for startups and technology companies.

Advantages of doing business in Poland

• The corporate income tax rate is 19%, but tax incentives are available for small and start-up companies - for example, the tax rate for companies with revenues of up to PLN 2 million can be reduced to 9%.
• Dividends are taxed at 19%, but the rate can be reduced under certain conditions (for example, under international double taxation agreements).
• Poland is part of the European Union, which allows doing business in the EU market with over 500 million consumers.

The legislation of Portugal provides for the possibility of incorporating the following types of legal entities:

• Individual Limited Liability Establishment;
• Partnership Company;
• Limited Partnership Company;
• Cooperative;
• Private Limited Company;
• Public Limited Company;
• Foreign Branch.

The most popular form of doing business for foreign entrepreneurs is a Private Limited Liability Company (Lda.). This is an ideal form for start-ups and small and medium-sized enterprises. The minimum authorized capital is only 5,000 EUR.

Advantages of doing business in Portugal

• The income tax rate in Portugal is 21%, which is lower than in some other Western European countries. A reduced rate may apply for small and medium-sized enterprises.
• Portugal actively supports foreign investors and entrepreneurs, offering various programs for setting up companies.
• Portugal is a member of the European Union, which gives companies access to a single market with more than 500 million consumers.

Romania has a simple tax system with low rates, making it an attractive destination for international business.
Romania is a member of the European Union and complies with EU standards on tax transparency and exchange of information.
The legislation of Romania provides for the possibility of incorporating the following types of legal entities:

• Societate pe Actiuni (SA) – Joint-Stock Company;
• Societatea in Nume Colectiv (SNC) – General Partnership;
• Societate in Comandita Simpla (SCS) – Limited Partnership;
• Societatea in Comandita pe Actiuni (SCA) – Partnership on Shares;
• Societate cu Raspundere Limitata (SRL) – Limited Liability Company.

The most popular and widespread forms are a Limited Liability Company (SRL) and a Joint-Stock Company (SA).
SRL is the most popular form for small and medium-sized enterprises in Romania. Minimal required share capital is 200 lei (around 40 EUR).
SA is an option for large companies that plan to raise capital by issuing shares. Minimal required share capital is 90,000 lei (around 18,000 EUR).

Advantages of doing business in Romania

• Romanian companies pay corporate income tax on their worldwide income, while foreign companies pay corporate income tax on their Romanian-source income. The corporate income tax rate is 16%.
• Dividends paid are subject to withholding tax at a rate of 10%.
• Tax rates are reduced in accordance with the provisions of double taxation agreements and EU directives.
• Romania offers various tax incentives and subsidies to attract foreign investment, especially in such areas as manufacturing, research, IT and green technologies.
• Romania is part of the European Union, giving companies access to the EU single market of more than 500 million consumers.

Saint Kitts and Nevis is an offshore jurisdiction. It offers various tax and legal advantages for businesses, including no taxes, confidentiality and privacy, and overall favorable conditions for doing business.

The legislation of Saint Kitts and Nevis provides for the possibility of incorporating the following types of legal entities:

• Nevis Business Corporation (NBCO);
• Nevis Limited Liability Company (NLLCO);
• Nevis International Exempt Trust (NIETO);
• Multiform Foundations (MFO).

The most popular and widespread form is the Nevis Business Corporation.
NBCO is a type of company that offers many of the advantages of an offshore jurisdiction, such as low or no taxes, confidentiality and privacy, and favorable conditions for doing business. A Nevis LLC is a type of hybrid entity that combines the limited liability protection of a corporation with the flexible management structure and flow-through taxation of a partnership.
A Nevis LLC is international, so it can do business in more than one country, but it is not permitted to do business in Saint Kitts and Nevis for tax exemption purposes.

Advantages of Doing Business in St. Kitts and Nevis

• Saint Kitts and Nevis has a zero corporate tax regime, meaning that non-resident companies are not subject to corporate income tax.
• Confidentiality: Saint Kitts and Nevis has strict bank secrecy laws, making it difficult for foreign authorities to access company information.
• There is no minimum share capital requirement and no mandatory audit or financial statement filing.
• International Recognition: Nevis LLCs are recognized worldwide, making them a good option for businesses that trade internationally.

The legislation of Serbia provides for the possibility of incorporating the following types of legal entities:

• Unlimited Liability Partnership (Ortačko Društvo, OD);
• Limited Liability Partnership (Komanditno Društvo, KD);
• Limited Liability Company (Društvo s Ograničenom Odgovornošću, DOO);
• Open Joint-Stock Company (Akcionarsko Društvo, AD).

The most popular and widespread form is the Limited Liability Company - Društvo s Ograničenom Odgovornošću (DOO).
Advantages of doing business in Serbia

• Low taxes - 15% corporate income tax (one of the lowest in Europe)
• Double taxation agreements with more than 60 countries, including Russia, EU, China, Switzerland, etc.
• Convenient geographical location in the center of the Balkan region

The Seychelles is considered an offshore financial center. The country has established laws and regulations aimed at making the jurisdiction attractive to foreign investors in terms of registering offshore companies due to its favorable tax regime, privacy laws and ease of opening an offshore company.

The legislation of the Seychelles provides for the possibility of incorporating the following types of legal entities:

• Company Limited by Shares;
• Limited Partnership;
• Special License Company - a rare option to receive tax benefits and conduct business in certain sectors;
• Protected Cell Company - used for investment funds and insurance companies;
• International Business Company - without permission to conduct business in the Seychelles.

The most popular form of doing business for foreign entrepreneurs is an International Business Company (IBC). It is usually registered as a private company limited by shares. There are no financial reporting or auditing obligations, unless business is carried out in the Seychelles.

Advantages of doing business in the Seychelles

• Income tax: the Seychelles provides legal entities registered in the jurisdiction with an exemption from tax on profits earned outside the Seychelles.
• Dividends and royalties are subject to withholding tax at a rate of 15%.
• Confidentiality: the laws of the Seychelles provide a high level of confidentiality regarding corporate information and offshore owners, and it is possible to use nominee directors and shareholders to maintain anonymity
• No capital investment: there are no minimum capital investment requirements in the Seychelles, which makes it attractive for entrepreneurs.
• No value added tax (VAT): the Seychelles does not charge VAT, which is also a significant advantage for offshore companies registered in these islands.
• No reporting or audit requirements for IBCs
• International reputation: the Seychelles is a well-respected jurisdiction with a stable political and economic environment, making it an attractive location for international business;
• Asset protection: the Seychelles offers strong asset protection laws, making it a popular location for holding of offshore assets.

The legislation of Singapore provides for the possibility of incorporating the following types of legal entities:
• Sole Proprietorship;
• Partnership;
• Limited Liability Partnership;
• Private Limited Company;
• Public Company Limited by Shares;
• Branch; Representative Office.

The most popular form of doing business for foreign entrepreneurs is a private limited company. Unlike private entrepreneurship and partnership, private limited companies have a separate legal status from their shareholders and directors, whose liability is limited to the amount of their contribution to the company's authorized capital.

Benefits of doing business in Singapore:
• Low corporate tax rate of 17% (effectively often lower due to incentives and deductions).
• Tax holidays for new companies of up to 3 years.
• Access to both Southeast Asian and Chinese markets
• No taxes on capital gains and dividends
• Robust legal system
• Government support (grants, accelerators, startup hubs)
• Double taxation treaties with more than 80 countries, preferential taxation of dividends.
• One of the largest trading ports in the world with no export duties and free exchange regime.
• Robust intellectual property protection: Singapore has well-developed legislation protecting intellectual property, making it an attractive destination for companies looking to protect their digital assets.

The legislation of Slovakia provides for the possibility of incorporating the following types of legal entities:

• Partnership (General Partnership);
• Limited Partnership;
• Limited Liability Company;
• Joint-Stock Company;
• Cooperative;
• Branch of a Foreign Company.

The most popular and widespread form is a Limited Liability Company.

Advantages of doing business in Slovakia

• Companies in Slovakia pay income taxes on their worldwide income, foreign companies - on income from sources in Slovakia.
• Slovakia is located in the center of Europe, which provides convenient access to the markets of both the EU and Eastern European countries.
• Support for entrepreneurs: there are multiple programs and support measures for local and international entrepreneurs.
• Double taxation agreements: Slovakia has agreements with many countries to avoid double taxation, which facilitates international business transactions.

From 1 January 2025, the following income tax rates apply to legal entities:

• 10% for legal entities whose taxable income does not exceed EUR 100,000;
• 21% for legal entities whose taxable income is in the range from EUR 100,000 to EUR 5,000,000;
• 24% for legal entities whose taxable income exceeds EUR 5,000,000.

The legislation of Slovenia provides for the possibility of incorporating the following types of legal entities:

• d.o.o. (Družba z omejeno odgovornostjo) — Limited Liability Company
• d.d. (Delniška družba) — Joint-Stock Company
• Division of a foreign company (Podružnica) - Local representative office without a separate legal structure

d.o.o. (Limited Liability Company) is the most common and universal form.
It is suitable for both local and foreign entrepreneurs. Minimum authorized capital requirement is 7,500 EUR.

Advantages of doing business in Slovenia

• Taxation: corporate tax rate is 19% (lower than in most EU countries).
• Double taxation agreements with over 50 countries.
• Direct access to the EU market with free movement of goods and services.

The Republic of South Africa (South Africa) is one of the most developed countries on the African continent with a modern legal and financial system.
The legislation of South Africa provides for the possibility of incorporating the following types of legal entities:

• Private Company (Pty) Ltd
• Public Company (Ltd)
• Partnership
• Branch

Private Company (Pty) Ltd is the most commonly used form of business in South Africa.

Advantages of doing business in South Africa

• Foreign investors can own 100% of the company.
• Legislation and transparency: South Africa has a robust legal system based on English common law and Roman-Dutch law.
• Access to the African market: South Africa is a gateway to the southern African market and a member of multiple trade agreements, such as SADC and the African Continental Free Trade Area (AfCFTA).
• Double Taxation Agreements (DTA): South Africa has DTAs with over 70 countries, making it an attractive option for international investors.

The legislation of Spain provides for the possibility of incorporating the following types of legal entities:

• Partnership (Sociedad Regular Colectiva, S.R.S. or S.C.);
• Limited Partnership (Sociedad en Camandita, S. en Com. or S. Com.);
• Joint Stock Company (Sociedad Anónima, S.A.);
• Limited Liability Company (Sociedad de Responsabilidad Limitada, S.L. or S.R.L.);
• New Limited Liability Company (Sociedad Limitada Nueva Empresa, S.L.N.E.) - a simplified form of SL, designed for small businesses and start-ups.

Sociedad Limitada (SL) is the most popular form of business in Spain. It is used by most small and medium-sized businesses. Minimum capital required for registration is 3,000 EUR.

Benefits of doing business in Spain

• Spanish tax resident companies pay corporate income tax on their worldwide income, while foreign companies pay corporate income tax on their Spanish-source income.
• The general corporate income tax rate in Spain is 25%.
• Spain offers tax incentives and grants for tech start-ups and innovative companies.
• Spain is a member of the European Union, which gives access to the EU single market, trade agreements and free movement of goods and services.
• Spain is a link between Europe and Latin America, which gives access to the markets of Spanish-speaking Latin American countries.

The legislation of Sweden provides for the possibility of incorporating the following types of legal entities:

• Aktiebolag (AB) - Limited Liability Company.
• Handelsbolag (HB) - General Partnership.
• Kommanditbolag (KB) - Limited Partnership, consisting of two types of partners: general and limited.

Aktiebolag (AB) is the most common form of doing business in Sweden, especially for small and medium-sized enterprises. It is widely used by both start-ups and larger companies.

Advantages of doing business in Sweden

• Swedish companies pay income tax on their worldwide income, foreign companies - on income from sources in Sweden. The income tax rate is 20.6%.
• Dividends paid are taxed at a rate of 30%.
• Sweden is a member of the European Union, which provides access to the EU single market and numerous trade agreements. This makes it easier to export and import goods and services.
• Sweden is one of the most stable economies in the world.

The legislation of Switzerland provides for the possibility of incorporating the following types of legal entities:

• partnership (Kollektivgesellschaf);
• limited liability partnership (Kommanditgesellschaft);
• private limited liability company (GmbH);
• public limited liability company (AG);
• simple partnership (Kommanditaktiengesellschaft);
• branch.

Two of the most popular forms are a public limited liability company (AG) and a private limited liability company (GmbH).
GmbH offers low entry threshold (capital requirement from 20,000 CHF) and is suitable for small and medium-sized businesses, but the owners (participants) are disclosed publicly, unlike with AG.
AG is favorable option for large international companies wishing to create an image of reliability and attract investors.
Advantages of doing business in Switzerland:

• Tax stability and optimization: some cantons have a reduced income tax rate (up to 12-14%).
• Confidentiality: strong protection of ownership data and banking secrecy (within the legislative framework).
• Developed financial system: direct access to one of the most reliable banking sectors in the world.
• Prestige: Switzerland's reputation ensures trust among clients and partners.

The legislation of Taiwan provides for the possibility of incorporating the following types of legal entities

• Unlimited Company,
• Limited Company,
• Company Limited by Shares,
• Unlimited Company with Limited Liability Shareholders,
• Partnership,
• Representative Office,
• Foreign Branch.

Unlimited companies are registered much less frequently than other types of companies. Foreign entrepreneurs usually choose a limited liability company, a limited liability company with shares, a branch of a foreign company or a representative office as the organizational and legal form for their enterprise.
Company Limited by Shares is a joint-stock company with limited liability. It is suitable for both local and foreign investors and for companies in the sectors of export and manufacturing, as well as technology startups.

Benefits of doing business in Taiwan:

• Strategic location: Taiwan is a supply hub between China, Japan, South Korea and Southeast Asia.
• Tax flexibility: standard corporate tax rate is 20%, with potential reductions for investments.
• Developed industrial base: Taiwan is one of the leaders in the production of IT and high-tech products.

The legislation of Thailand provides for the possibility of incorporating the following types of legal entities:

• General Partnership;
• Limited Partnership;
• Private Limited Company;
• Public Limited Company;
• Foreign Branch;
• Representative Office.

Foreigners can conduct business in the country through any of the aforementioned forms, but the most popular option for foreign entrepreneurs is a Private Limited Company.

Private Limited Company limits liability of shareholders to their contribution to the authorized capital and is suitable for most businesses. Its key features include minimum capital requirement from 1,000,000 THB (for foreigners, only 25% is required to be paid up front) with at least 3 shareholders.

Benefits of doing business in Thailand:

• Thai companies pay corporate income tax on their worldwide income, foreign companies - on income from sources in Thailand.
• The corporate tax rate is 20%. There are various tax incentives for certain types of businesses, such as those operating in certain industries or regions of the country.
• Dividends paid are subject to a 10% withholding tax.
• Favorable location and access to markets of Southeast Asian countries.
• A company can be incorporated with minimal capital and without the need for complex bureaucratic procedures.

The legislation of Turkey provides for the possibility of incorporating the following types of legal entities:

• partnership;
• limited liability company;
• joint-stock company;
• branch of a foreign company;
• representative office of a foreign company.

The most popular and widespread form is a limited liability company.
A limited liability company can be created with one shareholder and one director: both of them can also be foreign citizens. The minimum authorized capital is 50,000 TRY. This option is suitable for 95% of business types.
It is possible to create both a local company and a legal entity in one of the free economic zones (free zones) of Turkey.

Benefits of Doing Business in Turkey

• Resident companies pay corporate income tax on their worldwide income, while non-resident companies - on their income earned in Turkey.
• The standard corporate income tax rate is 25%.
• Dividends from Turkish companies are not taxed. Dividends from foreign companies may be exempt from taxation, if certain conditions are met.
• Direct access to markets of the EU, CIS, Middle East and North Africa.
• Simplified trade procedures with European countries.

The United Arab Emirates (UAE) is one of the most attractive jurisdictions for doing business in the Middle East and worldwide. It is a dynamically developing country with a favorable tax policy, modern legislation and a high level of economic freedom.

There are three main types of jurisdictions in the UAE for company formation:

• Mainland: business activities are permitted throughout the UAE and beyond.
• Free Zones (free economic zones): there are more than 45 free zones throughout the country, each with their own administration. Business activities are limited to the territory of the zone itself and export (work on the mainland requires an agent or a separate license). This option is highlighted by quick registration, possibility of 100% foreign ownership and numerous tax benefits. Some well-known free zones include Dubai Multi Commodities Centre (DMCC), IFZA, Dubai Internet City, Abu Dhabi Global Market (ADGM).
• Offshore companies: such companies cannot operate within the UAE. They are used for international business, holdings, asset ownership and tax optimization. Popular offshore jurisdictions include JAFZA Offshore, RAK ICC, Ajman Offshore.

The most popular form of doing business is a Free Zone Company. It is also the most frequently chosen form for foreign investors.
Advantages of Free Zone Company:

• 100% foreign ownership
• No income taxes and VAT (in some zones)
• Simplified office requirements

Benefits of doing business in the UAE

• Tax incentives: 0% income tax rate and VAT (for small businesses and some sectors) and no taxes on dividends, capital gains and personal income.
• Modern infrastructure: high standard of living, presence of international banks, access to markets of Asia, Europe and Africa.
• Immigration benefits: possibility of obtaining a business visa, investor visa or Golden Visa

The United Kingdom is one of the most popular and developed jurisdictions for company registration due to its high level of legal stability, transparency and wide opportunities for doing business both domestically and internationally. The United Kingdom offers many advantages for investors, entrepreneurs and international companies.

There are several options for organizational and legal forms for business in the United Kingdom:

• Private Limited Company (Ltd) - the most popular form for small and medium-sized businesses in the United Kingdom.
• Limited Liability Partnership (LLP) - most often used by professional organizations (lawyers, auditors, etc.). It allows partners to work as in a partnership, but at the same time limits personal liability for the company's debts.

The difference between LLP and LTD is that the former is characterized by organizational flexibility and is taxed as a partnership. Otherwise, LLP is very similar to a private company.
LLP does not have authorized capital and shares requirements, meaning there are no requirements for a minimum contribution from participants.
The minimum capital of an LTD is 1 share, while there are no maximum size requirements.

Benefits of doing business in the UK

• United Kingdom tax resident companies pay income tax on their worldwide income. The basic income tax rate is 25%.
• Non-resident companies pay income taxes on income earned in the United Kingdom.
• In most cases, dividends from foreign sources, as well as dividends from United Kingdom companies, with some exceptions, are not taxed.
• The United Kingdom is known for its stable legal system, which is based on common law, which gives businessmen confidence in the protection of their rights and property.
• Companies registered in the United Kingdom have a reputation for stability and quality, which can help in establishing trusting relationships with partners.
• Registering a company in the United Kingdom makes it easier to enter the markets of other countries, especially in Europe and the USA, thanks to the country's reputation and legal system.

The United States (USA) is one of the largest markets in the world, with the opportunity to reach global customers through e-commerce, Amazon, etc.

The USA offers several forms of business, the most popular of which are:

• Partnership (GP/LP)
• LLC (Limited Liability Company)
• C-Corporation

LLC (Limited Liability Company) is the most popular form among foreign entrepreneurs and small businesses due to the following advantages:

• Ease of registration and management
• Flexible taxation
• No citizenship/residency requirements
• Ability to be used for e-commerce, IT, consulting, etc.

Advantages of doing business in the USA

• Ability to choose the most favorable tax regime (for example, an LLC without activity in the USA may be exempt from federal taxes).
• Access to corporate bank accounts, PayPal, Stripe, acquiring systems, etc.
• An American company inspires more trust among clients and partners around the world.

Best States for Company Registration in the USA
For non-residents (and no physical presence in the US):

• Wyoming – #1 choice: low costs, high privacy, tax-free model (if not "US Effectively Connected Income").
• Delaware – attractive for potential investors, especially under the C-Corporation.
• New Mexico – anonymous LLCs, no annual reporting and very cheap (but less known).

For offline business and local presence:
It is better to register in the state of actual activity, otherwise "foreign qualification" is required.

• Texas: low taxes, large local economy.
• Florida: no personal income tax, developed business climate.

Vanuatu is an island nation in the South Pacific Ocean that has established itself as a popular offshore jurisdiction. With its flexible corporate laws, privacy and tax advantages, Vanuatu is particularly attractive to international entrepreneurs, investors and financial service providers.

The legislation of Vanuatu provides for the possibility of incorporating the following types of legal entities:

• International Business Company (IBC) — the most popular form for international business. IBCs have numerous advantages, such as confidentiality, no taxes on income and dividends, no mandatory reporting or auditing requirements.
• Limited Liability Company (LLC) — suitable for more structured asset transactions or for doing business within the jurisdiction itself.
• Partnership — can be used for small groups of entrepreneurs who want to do collective business.
• Trust — a legal structure that is used to manage assets or protect personal funds.

Advantages of doing business in Vanuatu

• There is no income tax in Vanuatu for international companies (e.g. IBCs).
• No taxes on capital gains and dividends.
• No requirement to conduct audit and file financial statements.
• High level of confidentiality and protection of personal data of shareholders and directors.
• No currency restrictions, which simplifies capital transfers and international settlements.

You are guided on each step of the company formation process to help you understand what options to choose and why.
We’ll be by your side from selecting a powerful and unique business name, all the way to getting your application on its way!

The sum for consultation will be deducted from the total invoice amount when purchasing the company and opening a business account in Bilder.