| Summary at a glance |
|
|
|
|
|
|
| Legally tax-exempt structure? |
Yes |
Yes |
No |
Yes |
Yes, for re-invested |
No |
| Must have a Stripe account in this country? |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Can have a Stripe account in another country? |
No |
No |
No |
No |
No |
No |
| Must rent a local office? |
No |
No |
No |
No |
No |
No |
| Must hire local employees? |
No |
No |
No |
No |
No |
No |
| Multi-currency payments allowed? |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Minimum charge amount per currency? |
$4 |
50¢ |
€0.50 |
£0.30 |
€0.50 |
€0.50 |
| 3D secure payment authentication possible? |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Chargeback protection possible? |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Quickbooks/Xero/Expensify software integration possible? |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| API software solution available? |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| WeChat/AliPay billing available? |
Yes |
No |
No |
No |
No |
No |
| SEPA direct debit available? |
No |
No |
Yes |
Yes |
Yes |
Yes |
| Instant Debit Card Payout facility available? |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| International country-specific card charge fees? |
3.4% + HK$2.35 |
2.9% + 30¢ |
2.9% + €0.25 |
2.9% + 20p |
2.9% + €0.25 |
2.9% + €0.25 |
| Double tax treaties access? |
No |
Yes |
Yes |
No |
Yes |
Yes |
| Corporation tax? |
0% |
0% |
12.5% |
19%/25% |
20% |
35% |
| VAT/GST/Sales tax rates |
0% |
0% |
23% |
20% |
20% |
18% |
| Type of company recommended? |
LLC |
Single person LLC |
LLC |
LLP |
LLC |
LLC |
| Personal travel required during the engagement? |
Yes |
No |
No |
No |
No |
No |
| Preferred country for e-commerce trade? |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| How soon can you have a certificate of incorporation? |
1 week |
1 week |
3 weeks |
1 week |
3 weeks |
3 weeks |
| How soon can you have corporate bank account numbers? |
8 weeks |
8 weeks |
8 weeks |
8 weeks |
8 weeks |
8 weeks |
| Stripe account available? |
8 weeks |
8 weeks |
8 weeks |
8 weeks |
8 weeks |
8 weeks |
| Total company engagement set up costs |
US$10,105 |
US$11,500 |
€8,355 |
£8,063 |
€10,400 |
€11,675 |
| Legal & accounting and tax considerations |
|
|
|
|
|
|
| Resident shareholder or director required? |
No |
No |
No |
No |
No |
No |
| Minimum number of directors? |
1 |
1 member |
1 |
1 partner |
1 |
1 |
| International e-commerce transactions subject to VAT? |
No |
No |
No |
No |
No |
No |
| Minimum number of shareholders? |
1 |
1 member |
1 |
1 partner |
1 |
1 |
| Lease agreement required before company incorporation? |
No |
No |
No |
No |
No |
No |
| Public register of shareholders and directors |
Yes |
No |
Yes |
Yes |
Yes |
Yes |
| Paid-up share capital required? |
No |
No |
No |
No |
No |
No |
| Standard Corporate Tax Payable % |
0% |
0% |
12.5% |
19%/25% |
20% |
35% |
| Access to Government grant/tax rebate programs |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Must prepare annual financial statements? |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Independent statutory audit required? |
Yes |
No |
No |
No |
No |
No |
| Annual tax return to be submitted |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Access to how many double tax treaties |
37 |
68 |
74 |
130 |
52 |
76 |
| Local substance requirements, including staffed office? |
No |
No |
No |
No |
No |
No |
| Withholding tax on dividends paid to individuals |
0% |
up to 30% |
up to 25% |
0% |
0-7% |
0% |
| VAT/GST/Sales tax rates |
0% |
0% |
23% |
20% |
20% |
18% |
| Banking considerations |
|
|
|
|
|
|
| Does our Client need to travel to visit Bank? |
Yes |
No |
No |
No |
No |
No |
| Initial deposit for US$ corporate bank account |
US$50,000 |
US$10,000 |
€500 |
€1M |
€5,000 |
€10,000 |
| Time taken to open corporate bank account |
8 weeks |
8 weeks |
8 weeks |
8 weeks |
8 weeks |
8 weeks |
| Multi-currency visa debit cards issued |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Dedicated bank officer with cell phone contact |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Fees for incoming wire transfers |
0.125% |
0.1% |
€12.5 |
£7.50 |
€25 |
Up to €100 |
| Fees for outgoing wire transfers |
$5 |
$10 |
€5 |
£7 |
0 |
€20 |
| Multi-currency visa debit cards issued |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Logistics considerations |
|
|
|
|
|
|
| GDP per capita (US$, 2019) |
48,713 |
60,745 |
68,090 |
30,625 |
18,686 |
24,628 |
| Global Competitiveness Index Ranking |
3 |
2 |
24 |
9 |
31 |
38 |
| Ease of Doing Business Global Ranking |
3 |
6 |
24 |
8 |
18 |
88 |
| OECD member country? |
No |
Yes |
Yes |
Yes |
Yes |
No |
| CRS reporting obligations (click link)? |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| FATF blacklisted country? |
No |
No |
No |
No |
No |
No |
| Country credit rating? |
A+ |
AA+ |
AA- |
AA |
A+ |
A+ |
| Estimate of engagement costs |
|
|
|
|
|
|
| Company formation fees? |
3,350 |
2,890 |
1,935 |
1,150 |
3,250 |
3,200 |
| Legal registered office fees? |
1,550 |
1,400 |
1,200 |
1,200 |
1,200 |
2,200 |
| Estimate Government fees? |
255 |
310 |
270 |
13 |
250 |
375 |
| Corporate bank account opening fees? |
4,950 |
5,950 |
4,950 |
4,950 |
4,950 |
4,950 |
| Tax and VAT/GST registration fees? |
0 |
950 |
0 |
750 |
750 |
950 |
| Estimate of total fees in Year 1? |
US$10,105 |
US$11,500 |
€8,355 |
£8,063 |
€10,400 |
€11,675 |
| View a detailed sales invoice with our latest notes! |
Here |
Here |
Here |
Here |
Here |
Here |
