Tax exempt international companies

Tax exempt international companies

 SingaporeHong KongDubaiBruneiMarshall Islands
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Summary at a glance
Total engagement costs? (US$)7,9406,95015,7008,8006,430
How long to set the company up?1 week1 week2 weeks2 weeks1 week
How long to open bank account?4 weeks4 weeks3 weeks3 weeks4 weeks
Where to open the bank account?UOB MalaysiaHSBC HKArab Bank DubaiUOB MalaysiaOCBC Singapore
Legally tax exempt structure?YesYesYesYesYes
Annual accounting and filing obligations?YesYesYesNoNo
Resident director required?YesNoNoNoNo
Reputable looking structure?YesYesYesNoNo
Legal considerations
Resident shareholder required?NoNoNoNoNo
Minimum number of directors?11111
Minimum number of shareholders?11121
Resident company secretary required?YesYesYesYesYes
Individual shareholders allowed?YesYesYesYesYes
Corporate shareholders allowed?YesYesYesYesYes
Corporate director(s) allowed?NoYesYesYesYes
Info available on a public register?YesYesYesNoNo
Minimum paid-up capital? (US$)11111
Tax and accounting considerations
Corporate tax payable? (%)0%0%0%0%3%
Annual financial statements required?YesYesYesNoYes
Statutory audit required?NoYesNoNoYes
Annual tax return to be submitted?YesYesYesNoYes
Access to double tax treaties?NoNoNoNoNo
Can the entity hire expatriate staff?YesYesYesNoNo
Foreign income locally taxable?YesYesNoN/AN/A
Agreeing to cooperate with FATF?YesYesYesYesYes
FATF blacklisted country?NoNoNoNoNo
Logistics considerations
Allowed to invoice local Clients?YesYesYesNoNo
Average monthly salary? (US$)2,7001,9002,1002,600400
English spoken by locals? (% pop.)80%46%Na39%20%
Literacy rate (%)?93%93%90%93%92%
Computer literacy rate (%)?98%80%87%90%75%
Country sovereign rating (S&P)?AAAAAAAA--
Ease of doing business? (World Bank)153184140
Population? (million)4.87.39.60.40.5
Unemployment rate? (% active pop.)23.2-2.7-
Inflation rate? (average, 2015)02.93.70%-0.6

Contact us

For additional information on our tax exempt international company services, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi