Most Popular Offshore Jurisdictions

FormOffshore's articles on best offshore companies in various jurisdictions.

BVI Offshore

British Virgin Islands (BVI) is the most popular offshore jurisdiction with close to 1 million BVI Business Companies incorporated. These offshore entities are not only able to conduct business internationally but also within BVI. This positively differentiates BVI companies from offshore companies formed in other jurisdictions and is one of the reasons for BVI's superior reputation.

BVI Registrar is also quick on incorporation and issuance of various corporate documents, thanks to the advanced online electronic registration system. This system can be accessed exclusively by registered agents and other licensed professionals.

Belize Offshore

Belize is another popular offshore jurisdiction, known for its international business companies (Belize IBC). IBCs are entities that pay no taxes in jurisdiction of incorporation but must also conduct all business activities outside of their home jurisdiction. The strong points for Belize companies are their affordability and efficient Registrar. In addition, Belize has a strong banking sector with a number of competent offshore banks that deal with foreigners. This generates an additional demand for Belize offshore companies.

Panama Offshore

Panama is one of the classic and most popular offshore jurisdictions. Panamanian companies are essentially corporations that pay no taxes on activities outside of Panama. The names of directors (a minimum of 3 is required) and shareholders are on the public registrar, thereby minimizing the anonymity of these companies. That is why many offshore providers offer Panama companies that come with nominee directors. Bearer shares or nominee shareholders are also used to protect the identity of the beneficial owners. Incorporating a Panama company is relatively inexpensive but may be a lengthy process. This is a result of the sheer number of companies being formed; slow processing times by the Registrar and often incompetent providers.

Seychelles Offshore

Seychelles is another popular offshore jurisdiction, known for its international business companies (Seychelles IBC). These are similar to Belize companies but are even more affordable. The Registrar and offshore providers are known to be competent. There are a few Seychelles banks present in the country including subsidiaries of major financial institutions. Unfortunately, Seychelles was put on a number of grey lists in the past and this has played against its standing in the offshore corporate world.

Nevis Offshore

Nevis is a jurisdiction known for its offshore LLC companies and corporations. Nevis Limited Liability Companies are modeled from Delaware LLCs (USA) and offer a number of advantages including pass-through taxation and limited liability. Nevis LLC pays no taxes in its home jurisdiction. These entities are popular with US nationals due to their similarities to US-based entities. There are a number of competent offshore registered agents in Nevis. Incorporation and provision of finalized corporate documents is the fastest among all offshore jurisdictions.

Anguilla Offshore

As a British Overseas Territory, Anguilla had initially positioned itself as an alternative to BVI. The two primary offshore company types offered are IBCs and LLCs. Unlike other offshore jurisdictions, Anguilla has a concept of an Overseas Agent, thereby allowing foreign corporate providers to incorporate companies for their clients via an online registration system. The electronic versions of certificate of incorporation and articles of incorporation are available within half an hour of company's formation request. However, there are known instances of poor formatting and inaccuracies on these documents. At present, Anguillan Registrar is working on improving their systems.

Hong Kong Offshore

Hong Kong is one of the world's largest financial centers. Hong Kong Limited Companies pay no taxes on income derived outside of Hong Kong. This makes them an ideal offshore entity. This is further strengthened by the government promotion, discounting a business licence fee until the 2nd half of 2011 ($60 USD annually, $350 thereafter). The downside of Hong Kong entities is the requirement for annual filings of audited accounts and employer returns, which increases company's expenditures on compliance.

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