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Delaware | Click for more information Delaware Advantages
Disadvantages
Company StatusStandard US Corporation with Limited Liability Corporate legislation sourceGeneral Corporation Law of Delaware Company namePrior name approval required The name must contain a corporate ending word such as "Company", "Incorporated", "Corporation", "Limited", "Association", "Club", or an abbreviation of such words The words "bank", "trust", "insurance", "university" and "college" require approval from appropriate regulatory agency. "Finance" and "fiduciary" are subject to additional approvals Time taken to incorporate24 hours Are shelf companies available?Yes ? but more expensive Usual minimum capital1500 authorised shares of no par value, however, no minimum amount of capital required Capital DutySee Annual Franchise Tax payable Minimum number of shareholdersOne Are bearer shares / shares of no par value possible?No / Yes Directors: minimum number / corporate directors allowed / locationOne / No / No restriction Secretary: mandatory / corporate secretary allowed / locationYes / No / No restriction Is there a requirement for a Registered Office / Registered Agent?Yes / Yes Is any information required by the authorities prior to incorporation or prior to tax status being granted?No What information is available on the public file?Name of the Company and any changes thereof, incorporation number, date of incorporation, registered office address, registered agent's detail Principal activities of the Company, Director's details, issued capital may be voluntarily disclosed What documents must he kept at the Registered Office?None Corporate books & sealCan be kept anywhere. No stipulation Are accounts required / filed?No / No Is an annual return required?No - only the Annual Franchise Tax Report Where are meetings to be held?Can be held anywhere. No stipulation Annual fees payable to the government: Tax / Annual Return Filing FeeAnnual Franchise Tax due in March - a minimum (with filing fee) US$50.00 - increases depending on the number of shares authorised or the value of the Company's assets Are there any exchange controls?United States Law requires that anyone taking more than US$ 10,000 into or out of the US must report this fact to the US customs authorities Double tax treatiesThe USA has numerous treaties |
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Turks & Caicos | Click for more information Turks & Caicos Advantages
Disadvantages
Company StatusExempt Company Corporate legislation sourceCompanies Ordinance 1981 Company namePrior approval required. The name may be in any language and need not end ‘Limited’. Time taken to incorporateSame day Are shelf companies available?Yes Usual minimum capitalNo minimum Capital DutyNil Minimum number of shareholdersOne Are bearer shares / shares of no par value possible?Yes Yes Directors: minimum number / corporate directors allowed / locationOne / Yes / No restriction Secretary: mandatory / corporate secretary allowed / locationNo / Yes / No restriction Is there a requirement for a Registered Office / Registered Agent?Yes / No Is any information required by the authorities prior to incorporation or prior to tax status being granted?None What information is available on the public file?Articles of Incorporation, Registered Office What documents must he kept at the Registered Office?None Corporate books & sealNo register of members or directors need be maintained. The company should have a seal. Are accounts required / filed?No / No Is an annual return required?Yes Where are meetings to be held?No restrictions Annual fees payable to the government: Tax / Annual Return Filing FeeNil / US$300 Are there any exchange controls?No Double tax treatiesNone Changes made to Isle of Man legislation in April 1999 mean that a company may no longer be registered as "Nonresidelif' in this jurisdiction. If you wish to know how this change will affect either an existing or a new company held in the Isle of Man, please contact us. |
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British Virgin Islands | Click for more information British Virgin Islands Advantages
Disadvantages
Company StatusInternational Business Company (IBC) Corporate legislation sourceCommon Law - International Business Companies Act 1984 - as amended Company namePrior approval required. Some words sensitive, eg Royal, Imperial. Must end 'Limited', or 'Corporation', 'Incorporated', 'Societe Anonyme' or any other recognised alternative Time taken to incorporateOne day Are shelf companies available?Yes Usual minimum capitalUS $50,000 Capital DutyIf the company's authorised capital does not exceed US$50,000, or equivalent, the fee is US$300. If over US$50,000 this increases to US$1,000 Minimum number of shareholdersOne Are bearer shares / shares of no par value possible?Yes / Yes Directors: minimum number / corporate directors allowed / locationOne / Yes / No restriction No / Yes / No restrictionYes Yes No restriction Is there a requirement for a Registered Office / Registered Agent?Yes / Yes |
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Ireland | Click for more information Ireland Advantages
Disadvantages
Company Tax StatusResident - i.e. profits liable to Irish taxation Corporate legislation sourceCommon Law - Companies Act 1963 to 1999 Company nameMany words sensitive, e.g. Bank, Trust etc. Must end "Limited", or "Teoranta" Time taken to incorporate7 - 10 days Are shelf companies available?Yes Usual minimum capitalNo usual minimum - may be as little as £2 Capital Duty1% on issued capital Minimum number of shareholdersOne, but companies are generally incorporated with two shareholders Are bearer shares / shares of no par value possible?Not for private companies / No Directors: minimum number / corporate directors allowed / locationTwo / No No restriction Secretary: mandatory / corporate secretary allowed / locationYes / Yes No restriction Is there a requirement for a Registered Office / Registered Agent?Yes / No Is any information required by the authorities prior to incorporation or prior to tax status being granted?No What information is available on the public file?Directors, shareholders, secretary, registered office, Memorandum & Articles of Association, Annual Return, Mortgages & Charges, Annual Accounts What documents must he kept at the Registered Office?Register of Directors / Members / Secretaries / Mortgages & Charges Corporate books & sealBoth required and usually retained at the Registered Office Are accounts required / filed?Yes / Yes Is an annual return required?Yes IWhere are meetings to be held?No restrictions Annual fees payable to the government: Tax / Annual Return Filing Fee28% if profits are in excess of IR£ 100,000; or 25% if profits are less than IR£ 100,000 (Irish corporate tax rates are scheduled to be reduced as follows: 2000 - 25%, 2001 - 20%, 2002 - 16%, 2003 - 12.5%) Filing Fee - IR£25 Are there any exchange controls?No Double tax treatiesNumerous |
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Hong Kong | Click for more information Hong Kong Advantages
Disadvantages
Company StatusPrivate Company Limited by Shares (i.e. no special category) Corporate legislation sourceThe Companies Ordinance Company nameWords such as "Royal", "Imperial", etc will not be permitted. Names must end in "LIMITED" Time taken to incorporate2 - 3 weeks Are shelf companies available?Yes Usual minimum capitalHK$10,000 authorised Capital Duty0.6% Minimum number of shareholdersTwo Are bearer shares / shares of no par value possible?No / No Directors: minimum number / corporate directors allowed / locationTwo Yes No restriction Secretary: mandatory / corporate secretary allowed / locationYes Yes Must be in Hong Kong Is there a requirement for a Registered Office / Registered Agent?Yes / No Is any information required by the authorities prior to incorporation or prior to tax status being granted?No What information is available on the public file?Memorandum & Articles of Association, Directors, Secretary, Shareholders, Registered Office, Annual Returns and mortgages and charges What documents must he kept at the Registered Office?Register of Members, Secretaries, Directors, mortgages and charges and minute book Corporate books & sealYes Are accounts required / filed?Yes / Not on public record, but are required by the Inland Revenue Is an annual return required?Yes Where are meetings to be held?No restrictions Annual fees payable to the government: Tax / Annual Return Filing FeeHK$2250 (Business Registration Fee) / HK$105 (Annual Return Filing Fee) Are there any exchange controls?No Double tax treatiesNone |
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