Reputable zero tax companies in 2023
| Global tax exempt companies | Singapore international company | Hong Kong international company | Jersey international company | Dubai offshore company | Delaware LLC |
|---|---|---|---|---|---|
| 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 |
| Draft invoice? | View invoice PDF | View invoice PDF | View invoice PDF | View invoice PDF | View invoice PDF |
