Non-resident Asian legally tax exempt companies

Non-resident Asian legally tax exempt companies

 Singapore LLCHong Kong LLCMarshall IslandsBrunei IBCLabuan IBCSeychelles IBCMauritius GBC2
Our ranking in order of preference1234567
Summary at a glance
Total year 1 engagement set up costs (US$)7,9406,9506,4308,8008,3505,3658,485
Total year 2 costs (incl. audit and tax) (US$)5,9507,7502,4002,6505,3703,5153,400
Annual corporation tax payable?0%0%0%0%0%0%0%
Corporate bank account location?Hong Kong or EU countriesHong Kong, Singapore, EU countriesSingapore or EU CountriesSingapore or EU CountriesSingapore or EU CountriesSingapore, Hong Kong, or EUSingapore or EU Countries
Must you travel during engagement?NoNoNoNoNoNoNo
How long to set the company up?1 week1 week1 week2 weeks2 weeks2 weeks2 weeks
How long to open bank account?4 weeks4 weeks4 weeks3 weeks3 weeks3 weeks4 weeks
Fast turnkey solution available?YesYesNoNoNoNoNo
Public register shareholders & directorsYesYesNoNoNoNoNo
Legal considerations
Paid up share capital?US$ 1US$ 1US$ 1US$ 1US$ 1US$ 1US$ 1
Resident director required?YesNoNoNoNoNoNo
Minimum number of directors1111111
Minimum number of shareholders1111111
Individual shareholders allowedYesYesYesYesYesYesYes
Corporate shareholders allowedYesYesYesYesYesYesYes
Corporate director(s) allowedNoNoYesYesYesYesYes
Public register shareholder and directorYesYesNoNoNoNoNo
OECD sharing of information?Yes, by 2018Yes, by 2018Yes, by 2018Yes, by 2018Yes, by 2018Yes, by 2017Yes, by 2017
Tax and accounting considerations
Annual corporation tax payable?0%0%0%0%0%0%0%
Annual financial statements requiredYesYesNoNoNoNoNo
Statutory audit requiredNoYesNoNoNoNoNo
Annual tax return to be submittedYesYesNoNoYesNoNo
Access to double tax treatiesYesYesNoNoYesNoNo
GST or VAT payable on sales?NoNoNoNoNoNoNo
Consolidated financial statements?YesYesNoNoNoNoNo
Logistics considerations
Can get local residence visa?YesYesNoNoYesNoNo
Can sign contracts with local clients?NoNoNoNoNoNoNo
Allowed to invoice local clients?NoNoNoNoNoNoNo
Confidential company?NoNoYesYesYesYesYes
Good company for global trading?YesYesNoNoNoNoNo
Good investment holding company?YesYesNoNoNoNoNo
Positively perceived by global banks?YesYesNoNoNoNoNo

Contact us

For additional information on our incorporation services, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Mr. Simon Guidecoq, directly:
client relationship officer - Simon