Non – European destinations (tax havens) are often used as part of tax planning for maximizing the tax advantage. They are part of a structure with European companies such as Cypriot and English.
FCI-PlusPoint has the ability to study your business needs and situation and to suggest the best and most favorable tax structure. We offer full support for incorporation of an entity, appointment of local representatives and opening a bank account as well as comprehensive services of company management and administration as a one-stop-shop.
Belize – Belize
Belize is a well-known and advantageous tax jurisdiction in Central America and part of the British Commonwealth.
An international company established in Belize is exempt from local taxes and instead has the obligation to impose a fixed annual fee to keep the company registered in the records, regardless of its financial statements. But in order for the conditions to be met, there must be no trade or possession of any real estate within the country.
Just as in Cyprus. , strict confidentiality is maintained in regard to identity of directors and shareholders of the offshore company, however Belize has more flexible general requirements. Managers and shareholders are not required to be residents of Belize. The Company does not need to maintain a domestic bank account, there is no minimum capital requirement and the company registration process is very short, once all the necessary documents have been delivered.
Registration costs vary according to the value of the company’s share capital. The minimum share capital is € 1,200, of which 20% must be paid in full. There is an annual fee according to the approved share capital.
The company must have at least one shareholder (natural or legal person), a manager and a secretary.
British Virgin Islands – British Virgin Islands
The British Virgin Islands are an island complex located northwest of the US and is considered a major offshore investment center, like Cyprus in its own rights. It is not part of any direct network of tax treaty, however, Japan and Switzerland include it in their respective contracts with the United Kingdom. The government earnestly supports offshore companies.
The British Virgin Islands are a very popular destination in the Caribbean that attracts offshore businesses due to their tax incentives, including: no tax on capital gains and inheritances, non-withholding tax, exemption from capital transfer tax and death tax. In addition, companies operating outside the BVI are exempt from all local taxes.
United Arab Emirates (UAE), Free Business Zone – RAKOFFSHORE
Many have set up offices, factories or warehouses and have invested millions, resulting in enormous returns.
The main benefits that investors enjoy with the start of business in the free zones of the UAE are:
- 100% foreign ownership.
- 100% repatriation of funds and profits.
- 0% tax on UAE. Exemption from corporate and personal taxation in the UAE as well as from import and export taxes.
- The formation of a Company in the Free Zones is faster than in other areas of the UAE.
- Low labor costs and easy recruitment processes.
- Typically, there are no restrictions on hiring work.
- There are no customs controls at the zone installations.
Cyprus also has the choice of free industrial zones with flexible and tax advantages, especially for warehouses.
Free Zone Restrictions:
- The Free Zone Company is not allowed to deal directly with the UAE domestic market.
- The Free Zone Company may conduct local business only through local authorized distributors.
- In this case, a 5% customs tax is applicable to local businesses.
Even if all free zones provide many attractive programs for the benefit of investors, they are not all the same if we consider the possibilities offered by them. Therefore, it is worthwhile to study the possibilities offered by each zone separately in relation to the needs of its business.
This information is for general investor guidance. However, as changes take place from time to time, following decisions by the Authorities, new investors should consult a Specialist Advisor on the latest details before planning a business activity in the UAE Free Zone.
- Free Zone Entity: FZE (Shareholder – a natural person).
- Free Zone Company: FZCO (more than one member / shareholder).
The UAE is a country in the Middle East with a large number of free trade zones and free industrial zones with over 12,000 businesses, many of which are well-known brands.
Each zone offers all or some of the above options. Each investor should seek guidance from a consultant to reach the final selection and get to know all relevant details of the documents required.
Our mission is to complete the business start-up process overseas, without any problems or surprises, providing to our customers high-quality services at competitive prices.