Registration of companies in other jurisdictions
In addition to classic offshore and onshore jurisdictions, there are other jurisdictions with an attractive tax regime and excellent business opportunities, in particular:
- United Arab Emirates (UAE);
- Hong Kong;
A distinctive feature of the registration of companies in Singapore and Hong Kong is the opportunity to take advantage of the territorial principle of taxation, provided that there is no activity in the country of registration. In fact, the company's profits are not subject to taxation. However, Singapore and Hong Kong can not be called an offshore company, since, subject to activities in the country of registration, the corporate tax rate is 17% (Singapore) and 16.5% (Hong Kong), respectively.
Another advantage of registering a company in Hong Kong is the absence of value added tax, a capital gains tax, a source tax when paying dividends and interest. Along with Hong Kong, Singapore's tax regime provides for additional benefits for resident companies in the first years after registration, and there is also no tax at the source when dividends are paid.
When choosing jurisdictions for doing business abroad, it is necessary to take into account that Singapore and the UAE are not members of the Hague Convention, which, in turn, entails additional costs for the legalization of documents. Also, it is important to take into account the presence of Hong Kong in the Ukrainian "TCS List".
With regard to the UAE, the availability of free economic zones allows you to choose the optimal tax regime, depending on the purpose, location and scope of business. For example, in order to make the company prestigious, and also in the case of doing business in the UAE, it is possible to establish a company in a free economic zone with a license. Based on the type of activity, our specialists will help you choose the optimal free economic zone, as well as the required type of license. The activity of companies in free economic zones is not subject to taxation.