Reputable zero tax companies in 2024

Global tax exempt companies Singapore international company Hong Kong international company Jersey international company Dubai offshore company Delaware
Our ranking in order of preference 1 2 3 4 5
Summary at a glance
Total year 1 engagement set up costs US$12,246 US$10,105 £12,960 US$15,700 US$10,000
Total year 2 costs (incl. audit and tax) US$8,244 US$8,900 £4,750 US$7,350 US$4,000
How long to set the company up? 1 week 1 week 3 weeks 2 weeks 1 week
How long to open bank account? 6 weeks 4 weeks 3 weeks 2 weeks 4 weeks
The paid up share capital required? US$1 US$1 £1 US$1 US$1
Corporate bank account location? OCBC Malaysia HSBC HK Barclays UK Noor bank UAE DBS Singapore
Legally a tax non-resident company? Yes Yes Yes Yes Yes
Audit required for financial statements? No Yes No No No
Do you need to travel? No Yes No No No
Legal considerations
Resident director required? Yes No No No No
Resident shareholder required? No No No No No
Minimum number of directors 1 1 1 2 1
Minimum number of shareholders 1 1 1 1 1
Resident company secretary required? Yes Yes Yes Yes Yes
Individual shareholders allowed Yes Yes Yes Yes Yes
Corporate shareholders allowed Yes Yes Yes Yes Yes
Corporate director(s) allowed No Yes No No Yes
Public register of shareholders and directors Yes Yes Yes Yes Yes
Tax and accounting considerations
Corporate tax payable % 0% 0% 0% 0% 0%
Annual financial statements required? Yes Yes Yes Yes Yes
Statutory audit required? No Yes No Yes No
Annual tax return to be submitted? Yes Yes Yes No Yes
Access to double tax treaties? No No No No No
Free zones available? 4 0 0 30 0
Resident company for local tax? No No No No No
Can apply for work permit? No No No No No
Can the entity hire expatriate staff? No No No No No
Logistics considerations
Allowed to sign sales contracts with local clients No Yes No No No
Allowed to invoice local clients No Yes No No No
Average monthly salary of skilled labour US$5,000 US$4,000 £6,500 US$3,500 US$6,000
Average monthly salary of unskilled labour US$1,800 US$1,000 £1,850 US$800 US$1,500
English spoken by what % of the population 80% 46% 98% 78% 98%
Literacy rate % 93% 93% 99% 90% 99%
Computer literacy rate % 98% 80% 86% 71% 99%
Monthly office rental per square meter US$42 US$38 £70 US$42 US$25
Monthly warehouse rental per square meter US$32 US$25 £55 US$30 US$20
Sovereign bonds rating (S&P) AAA AAA AA+ - AAA
Internet connectivity rating Excellent Excellent Excellent Strong Excellent
GDP per capita? (U$$, IMF 2015) 53,200 42,100 44,100 35,400 55,900
Government liberal or controlling? Liberal Liberal Liberal Controlling Liberal
Ease of doing business ranking? (WB) 1 5 6 31 7
World competitiveness ranking? (WEF) 2 7 9 12 3
Population? (in million) 5.5 7.3 321 65 9.6
Unemployment rate? (%, IMF) 2% 3.2% 6% - 5.3%
Inflation rate in 2015? (IMF, annual average) 0.1 2.9 0.1 3.6 0.9
GDP 2015? (US$ billion) 294 308 2,864 340 17,968
GDP growth in 2015? (IMF WEO) 2.2% 2.5% 2.5% 3% 2.6%
Estimate of engagement costs US$12,246 US$10,105 £11,960 US$15,700 US$10,000
Company formation fees US$1,940 US$3,350 £6,000 US$6,750 US$1,590
Company secretary and registered office fees US$1,200 US$1,550 £2,100 US$1,100 US$1,200
Estimate of Government fees (0 if included) US$256 US$255 £910 US$950 US$310
Resident director fees (0 if not required) US$3,900 0 £0 US$0 0
Project management fees (0 if not applicable) 0 0 £0 US$3,950 0
Corporate bank account opening fees US$4,950 US$4,950 £2,950 US$2,950 US$5,950
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Contact us

For additional information on our Tax exempt company setup services, please contact our in-house country expert, Mr. Simon Guidecoq, directly:
client relationship officer - Simon