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Top Offshore Companies Comparison Chart

Offshore Protection's Offshore Company Comparison

The chart represents what some of the most popular offshore formation products right now. As the offshore formation industry has changed so drastically, onshore financial centres in typically high tax countries are quickly becoming the new jurisdictions for offshore companies.

Consult the chart below and read on for further country and company specific details.

 

Corporate Details   Panama Dominica  Nevis  Scotland  United Kingdom
 General
Type of Entity Limited by Shares  IBC Offshore Exempt Company (NBCO) Limited Partnership  Private Limited
Type of Law Civil Law System  Common Law  Common Law Common Law   Common Law 
Governed by General Corporation Law of 1927
Coded Bank Accounts Law 8 of 1959

Commercial Code Law 17
 International Business Companies (IBC) Act 1996
Companies Act 1994

Offshore Banking Act 1996
Business Corporation Ordinance 1984 Partnership Act 1890
Limited Partnerships Act 1907
 
UK Companies Act 1985
Amended in 1985 and 2006
 
Registered Office  Yes  Yes  Yes  Yes  Yes
Shelf company availability Yes  Yes  Yes  Yes  Yes
Our time to establish a new company 3 days 1- 2 days  1-2 days  3-4 days  1-2 days
Minimum government fees (excluding taxation) USD 250 USD 405  USD 200  GBP 20  GBP 15
Corporate Taxation No Exempt for 20 years   No  None None (20-28% on local)
Access to Double Taxation Treaties Yes  No  Yes  No  Yes
Share capital
Standard currency Legal tender is the USD 
Official currency is Panamanian Balboa (PAB)
PAB fixed exchange rate USD 1 = PAB 1
 US Dollar

Eastern Caribbean Dollar (XCD)
Fixed Exchange Rate USD 1 = XCD 2.7)

GBP Pounds Sterling   GBP Pounds Sterling 
Permitted currencies Any  Any  Any  Any  Any
Minimum paid up No minimum  USD 100  USD 1  GBP 2  GBP 1
Usual authorized USD 10,000   No limit  USD 50,000  GBP 1000  GBP 1000
Bearer shares allowed Yes  Yes  Yes  No  No
No par value shares allowed Yes  Yes  Yes  No  No
Directors
Minimum number 3 Directors/Officers (President, Secretary and Treasurer)  3  1  1
Local required No  No  No  No  No
Publicly accessible records No Yes   No  No  Yes
Location of meetings Anywhere  Anywhere  Anywhere  Anywhere  Anywhere
Corporate directorship allowed No  Yes  No  Yes Yes (but needs on individual)
Shareholders
Minimum number 1  1  1  2  1
Publicly accessible records No  No  No  No Yes  
Corporate shareholder allowed Yes  Yes  Yes  Yes Yes 
Location of meetings Anywhere  Anywhere  Anywhere  Anywhere Anywhere 
Company Secretary
Required Yes  No  Yes  No No 
Local or qualified No  NA No   No No 
Accounts
Requirements to prepare No  Yes Yes Yes  Yes  
Audit requirements No  No No No Yes *(small companies are exempt) 
Requirements to file accounts No  No No No Yes 
Publicly accessible accounts No  No No Yes   Yes 
Government Costs
Minimum Annual Tax  USD 250  USD 405 USD 200  GBP 100  NA
Annual Return Filing Fee NA  NA  No  GBP 15 GBP 15 
Other
Requirement to file annual return No  No  No  Yes   Yes
Migration of domicile permitted Yes  Yes  Yes  No  Yes

For an in:depth look at each company, see the sidebar for company specific information and if you would like more information on each financial center see below:

 

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