In general, all jurisdictions can be divided into classic offshore, low-tax jurisdictions and prestige jurisdictions. The prestige of a jurisdiction corresponds to its rank, which is determined by considering and evaluating information from the International Sanctions List, the OECD Gray or Black List and the EU Jurisdiction White List as well as data on the development of financial markets to determine whether the jurisdiction is FATF AML is deficient and whether there are money laundering concerns. These are the basic criteria that matter in determining whether the jurisdiction is prestigious or not. It cannot be considered prestigious if it is on a financial blacklist.
Austria, France, the United Kingdom, the United States of America and Switzerland are among the top five most reputable jurisdictions for incorporating a company.
A general overview of Austria Registering a company or start-up in this territory allows the owner(s) to participate in all projects initiated by the Austrian government. The basic company types available are LLC, ULP, PJSC, PLLC, LLP, and JSC.
Taxes: The income tax rate is 25%, with a minimum corporation tax of EUR 500, plus 20% VAT and a capital tax that varies between 0.8% and 1%. If the subsidiary is registered within the EU, the tax rate on dividend income is 0%; if not, it is 25%.
Austria has agreements with more than 90 countries that enable companies to avoid double taxation. It has no exchange control. This jurisdiction ensures the confidentiality of business data.
A general overview of France France is a respectable jurisdiction that allows your company to offer products and services bearing the mark of a European company. The basic legal structures available are SP, GP, PJSC, PJSC, LLC, CLS and LLPE.
France offers a number of options: the ability to obtain credit from French banks, the ability to obtain a residence permit, no taxation for companies registered in the country doing business outside of France, and no exchange controls. France has agreements with more than 89 other countries that allow companies to avoid double taxation.
A general overview of the United Kingdom The UK is considered a respectable jurisdiction due to its high level of legal protection, a simple and transparent tax system, the ability to charge VAT and the availability of nominee services.
The basic company types available in the UK are PC, Limited Warranty Company, ULC and LLC. Again, there are no tax obligations for UK registered companies operating exclusively outside the country. Corporate tax rates depend on profit (between 20% and 24%). The UK has agreements with more than 100 countries that allow companies to avoid double taxation.
A general overview of the United States of America The US offers a respectable, highly trusted jurisdiction for a company to register, allowing it to offer products and services bearing a US company's trademark. This jurisdiction imposes no tax obligations on entities designated as non-resident and also permits nominee services. There is no taxation for companies incorporated in the country that do all their business outside of the United States.
The basic legal structures available are private contractor, corporation, branch of a foreign corporation, representative office of a foreign corporation, partnership, LLC, joint venture, or LLJSC.
A general overview of Switzerland The good reputation of this jurisdiction is based on several factors, such as strong business development, a dynamic economy and a track record of innovation. The most important corporate forms available in Switzerland are LLC, ULP, JSC, Commandite Partnership and Subsidiary.
Switzerland offers a high level of confidentiality, the world's leading currency, mechanisms to avoid double taxation, a reasonable tax system with tax rates depending on residence, income level and legal form of the company, tax optimization opportunities and the opportunity to set up service companies that can for the administration used for the business activities of the parent company and can serve as the overseas offices of international companies.
Major industries in the country are sugar, vegetable oil, food processing, agricultural machinery, foundry equipment, refrigerators and freezers, washing machines, hosiery, shoes, textiles. The Industrial Production growth rate of Moldova is 4.5%.4.3% of population in the country are unemployed. The total number of unemployed people in Moldova is 173,766. Moldova produces 5,456 GW/h of electricity each year. Moldova emits 1.4 metric tons per capita of CO₂. On average, you would pay 1.21 USD for one liter of gasoline in Moldova. One liter of diesel would cost 0.75 USD.
Labour The total labor force of Moldova is 1,267,530 people, wherein 41% are working in agriculture, 16% are working in industry, and 43% are employed in services. People in Moldova speak the Romanian language.
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Slovakia. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates, tax laws, and fees vary depending on the specific country in which you are investing; careful research and strategic financial moves could result in significant portfolio growth.
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Uzbekistan. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates, tax laws, and fees vary depending on the specific country in which you are investing; careful research and strategic financial moves could result in significant portfolio growth.
When considering opening a bank account in Uzbekistan, one must enlist the help of international experts to guide them through the process.
Legal structures in Uzbekistan Every international jurisdiction abides by a different set of legal structures for taxation and banking. Confidus Solutions helps you to understand the nuances of each country's legal structures. To do business in Uzbekistan, it will be critical for you to have a firm grasp on the financial and legal implications.
Initial investments The vast majority of bank accounts in Uzbekistan will require an initial financial outlay to secure account opening. This value differs from bank to bank and also depends on variable rates of currency exchange. An international finance expert will help to navigate these conversions as well as the assorted fees and minimums involved in sustaining a bank account. Be sure to understand interest and growth rates associated with any potential international bank account so that you are able to maximize your earnings while minimizing risk.
Tax structures in Uzbekistan For best results and to avoid bureaucratic and legal pitfalls, enlist the support of an expert in international finance and economics. This initial investment in proper processes and research will help to avoid a litany of long-term costs and fees associated with unforeseen errors and legal miscues. Language expertise, financial knowhow, and bureaucratic experience will ensure that your account opening is handled smoothly and without unintended consequences.
Malta's Citizenship by Investment Programme is an ideal option for families wishing to relocate their business and/or personal affairs to the European Union. Maltese citizenship granted through this programme is valid for life and can even be passed on to your children and their descendents.
During the last year, more than 1000 applicants took part in this programme, contributing an additional one billion euros in direct investment to the Maltese economy. Malta has a stable political climate and, importantly, a growing economy, even in times of financial crisis.
Maltese citizenship offers a couple of benefits for investors. Firstly, it allows you to travel to 166 countries, including Canada, the United States of America and the EU, without a visa. Secondly, it gives you the right to live, study and work in 28 European Union countries, plus Switzerland, Norway, Liechtenstein and Iceland.
Malta is a stable, safe (it has one of the lowest crime rates in Europe) and neutral country with an extremely friendly population and high standards of living (its education and healthcare systems have been among the most highly ranked in Europe for a long time). Malta's fusion of European lifestyle, Mediterranean quality of life, enjoyable climate (with about 300 sunny days per year), delicious food and absolute safety would be great for you and your family. Family eligibility includes the main applicant's spouse and parents, children under the age of 18 and unmarried dependent adult children under the age of 27.
As mentioned previously, once you are a Maltese citizen, your children are then automatically entitled to citizenship as well. Obtaining Maltese citizenship is a very efficient process, and you will be notified of the outcome of your application within just four months. Note that the 12-month processing time for passport applications includes these four months. In addition to all these benefits, you will enjoy tax planning advantages, with no inheritance tax, no wealth tax and no inheritance tax. Malta has double taxation treaties with 60 countries. Furthermore, under Maltese law you are not required to renounce your existing citizenship, as there are no restrictions on holding dual citizenship.
To apply for dual citizenship through the Citizenship for Investment Programme, the applicant is obliged to contribute at least 650,000 EUR to Malta, whereas spouses are required to contribute 25,000 EUR (as are unmarried children under 18). Unmarried children under 25, but older than 18, must contribute 50,000 EUR each (as must dependent parents aged 55+).
Applicants for Malta's Citizenship for Investment Programme are obliged to make an investment of at least 150,000 EUR in government bonds. In addition to these requirements, the applicant must choose one of the following options: to buy a property for at least 350,000 EUR, retaining ownership for at least five years, or to rent a property for 160,000 EUR for a minimum period of five years. After purchasing real estate or entering into a real estate lease contract in Malta, applicants are issued with a Maltese identity card (eResidence card).
As part of the programme, a four-tier process is carried out by the Maltese government in order to thoroughly evaluate all candidates. All applicants must have a clean reputation with no criminal record, and the government of Malta makes comprehensive criminal checks with the International Criminal Court, INTERPOL and other authorities and sources. Also, candidates are required to provide a police certificate before being approved for a European passport.
To participate in the Maltese Citizenship by Investment Programme, applicants must provide documents relating to their health conditions. Candidates should provide evidence to show that they do not suffer from infectious diseases, and must be covered by an international health insurance policy. If all these requirements are met, applicants will face no further barriers to becoming Maltese citizens.
In general, in order to register a company in Canada one must meet the key registration requirements that may apply to his or her business. This should be done due to the necessity to let the government know about one's plans to establish a business as well as to inform potential customers about one's business status and commercial activities.
Business name registration Before registering a company it is rather important to think about what one wants to call his or her business. Company's name can be registered through any of the Service Providers under contract with the Ministry of Government and Consumer Services. After choosing the appropriate name entrepreneur(s) must decide on the form of a business he or she wants to start.
Choosing the right business structure There are plenty of business structure types which can suit one's expectations. For example a partnership or limited partnership, an incorporation, a co-operative, a sole proprietorship etc. If one choses to register a limited partnership (LP) he or she must have a clear perception of what it is and be aware of all of the formalities which shall be fulfilled.
Choosing the form of incorporation One must also choose whether to incorporate the business federally or in a particular province or territory. However, the main thing one must remember regarding company registration in Canada is that most territorial and provincial governments require business registration with their government departments: the federal Corporations Directorate and the provincial registries.
There are certain rules, procedures and fees for registering a company in each province, however, some of the requirements can be stated as basic and can apply to every place in Canada. For example, business name registration in general is an obligatory legal requirement, however, Newfoundland and Labrador are the exception to this rule as in that province it is not necessary to register the name of partnerships or sole proprietorships.
Requirements to register LP Limited partnership means that there are one or more general partners, who have unlimited liability and one (or even more) who have limited liability depending upon their contribution to the business in the frames of such partnership.
Submission of documents Therefore, LP incorporation requires submission of documents such as: Declaration of limited partnership (Form 1), Declaration of extra-provincial limited partnership (Form 4), the Notice of Offices, the Memorandum, the Articles of Incorporation in case one has a limited partnership registered outside of the province. LP can be registered when these declarations are filed under the Limited Partnership Act along with the fee. The Act can be also found online and submitted to Government Department of a certain province.
Legalization of documents All the documents must be legalized. Legalization of documents in Canada can cost several hundred dollars depending on the chosen consulate. Documents then must be signed and sealed by a Canadian notary and the authentication can be done by using one of the Global Affairs Canada Authentication Services.
LP's shareholders A minimum one general partner is required for registration of a limited partnership, who may be a resident of any country, individual or legal entity. In such a way LP is managed by its general partners unless the Partnership Agreement allows general partners to appoint a manager. There is no minimum or maximum amount of contribution required to establish such partnership.
Share capital and state fees For federal incorporation, company incorporation fee is $200 if filed online through Corporations Canada's online Filing Center or $250 if filed through other means. It is a fee for filing the Articles of Incorporation. One more fee included is for getting NUANS Name Search Report to certify that company's corporate name is unique and acceptable. For provincial incorporation, the cost may vary from province to another province. Additional state fees include: filing an annual report, extra-provincial registration, the cost of a corporate seal, or preparing and filing corporate taxes.
Tax number acquisition Tax-wise, partnerships are treated like sole proprietorships – each partner reports income and pays income tax on his or her personal income tax return. Tax number acquisition requires: social insurance number, a copy of the Canada Revenue Agency's (CRA's) Business and Professional Income Guide, personal business records, including filing in Industry Classification Code for the business or business number, details of partners and other amounts deductible from the share of net partnership income. Depending on business type, businessmen might need to register for GST/HST as well as to register for provincial sales tax (PST).
Account opening It is necessary to open a bank account in order to operate with company's financial flow. This will require copies of such incorporation documents as the Articles of Incorporation, particular banking resolutions. All the authorized persons will have to fill in forms at the bank before they're allowed to access the corporate account. This can take 1 to 3-4 days depending on a bank.