Incorporation of Companies in other Jurisdictions

In may sometimes be advantageous or desirable for our clients to incorporate onshore companies in other countries, be it as stand-alone company or as parent company of a company in Cyprus or vice versa.

Relying on our experience and wide network we incorporate your companies in the jurisdictions below, with the same diligence and professionalism as in Cyprus.

In below sections we provide to you information about the advantages and regulations of the USA, the United Kingdom, Malta, Singapore and Hong Kong.

We will be pleased to advice you which solution will be fitting your needs.

 

General Information

Legal System:
Common Law

Currency
USD (United States Dollar)

Language
English

Time Zones
New York: GMT + 5 hours
Washington: GMT + 5 hours
Delaware: GMT + 5 hours

 

Company Information

Forms of Companies
LLC (Limited Liability Company): This is the form of company mainly preferred for international business. The LLC is neither a pure partnership nor a pure corporation, but combines elements of both the aforementioned forms.

Company Law
Depending on State. Example:
New York: „New York Limited Liability Company Law (Chapter 34)
Delaware: Delaware Corporation Law 1994-95

Minimum Capital Requirement
No

Restrictions
LLC may not conduct banking, assurance or reassurance business, if no particular licence has been obtained.

Taxation
From the point of tax legaslation, LLCs are treated as partnerships; i.e., profits of the company are transferred to to its shareholders, tax liability occured on the level of shareholders. If a LLCs does not conduct bussiness within the Federal State of its incorporation, and if its shareholders are non-tax-residents in the USA and if they do not make any profit from business in the USA, there is not tax liability of such companies in respect of the provisions of the US Federal Income Law and the Income Laws of the Federal States. Such companies do not have to submit tax returns.

Double Taxation Avoidance Treaties
Double Taxation Avoidance Treaties have been signed between the USA and a large number of other States.

Annual Tax Returns
Not necessary

Annual Financial Reports
Not necessary if no businmess conduvted in the Federal State of incorporation

Annual Licence Fee
Depending on State, for example:
New York: no
Delaware: USD 200,00
Washington: USD 200,00

Registered Address of Company and Incorporation Agent
Registered address of the company has to be within the Federal State of incorporation.

Secretary of Company
To be registered.

Directors
Depending on the State. Generally, at least on director, may be a natural or legal person not resident in the USA.

Shareholders
At least one

Grade of Discretion
A high grade of discretion is maintained, since annual tax returns and financial reports are not necessary.

Disclosure of Beneficiary
The registries of companies in most of the Federal States are not public.

Bearer Shares
Not allowed

Currency Control
No

Name of Company
May be in any language using Latin letters.

Name Restrictions
Depending on State. Words such as "Royal", "Imperial", "Bank", "Insurance" or "Assurance", "Trust", as well as offensive and obscene names are not permitted.

Name Suffixes
The name of the company has to bear at its end the expression "Limited Liability Company" or its abbreviation "LLC".

Language of Company Documents
English

Duration of Incorporation
Incorporation: 2-3 days
Preparation of company documents: about 5 working days

Shelf COmpanies
Available in some States

 

 

The United Kingdom consists of England, Scotland, Wales and North Ireland.

General Information

Legal System:
Common Law

Economy
The United Kingdom is one of the World's largest economic powers and one of the important global finance centers. Sophisticated services, especially in banking and assurance business.

Currency
GBP (British Pound)

Language
English

Time Zone
GMT +/- 0 hours

 

Company Information

Forms of Companies
UK Private Limited Company (Private company with limited liability)
UK Public Limited Company (Public company with limited liability)

Company Law
Companies Act 1985 (incl. amendments)
Income and Corporate Income Act 1988

Minimum Capital Requirement
UK Private Limited Company: At least one share, authorised capital capital generally GBP 1000,00
UK Public Limited Company: At least two shares, authorised capital minimum GBP 50.000,00, 25 % of it to be paid.

Restrictions
Companies may not conduct business such as banking, assurance and reassurance, financial services and business related to the granting of consumer loans, if no appropriate licence has been obtained.

Taxation
Normally, companies pay capital gains tax and corporate tax at a level of 20 % of their income, if the sum of those taxes does not exceed GBP 300.000. If the profit before tax exceeds GBP 1.500.000, a tax rate of 30 % apply.
Companies that only engage in international business have many opportun,t,es to reduce the tax rate to 0 %.

Double Taxation Avoidance Treaties
UK maintains Double Taxation Avoidance Treaties with more than 100 countries.

Annual Tax Returns
Yes

Annual Financial Reports
Yes. However, companies with an annual turn-over of less than GBP 1.000.000 are exempted from annual auditing. The directors of the company certify the annual reports instead.

Annual Licence Fee
No

Registered Address of Company and Incorporation Agent
Registered address of company has to be in England or Wales.
Incorporation agent not necessary.

Secretary of Company
To be registered.

Directors
Private Company: At least one. Nationality and country of presidence not important. Natural or legal persons.
Public Company: At least two. Nationality and country of presidence not important. Natural or legal persons.

Shareholders
Private Company: At least one.
Public Company: At least two.

Grade of Discretion
Total discretion may be obtained through trustees.

Disclosure of Beneficiaries
No

Disclosure of Directors
Yes. Anonymity may be obtained through trustees.

Disclosure of Shareholders
Yes. Anonymity may be obtained through trustees.

Bearer Shares
Yes, have to be deposed with licenced custody services.

Currency Control
No

Name of Company
May be in any language using Latin letters.

Name Restrictions
Words such as "Royal", "Imperial", "Bank", "Insurance" or "Assurance", "Trust", as well as offensive and obscene names and names that suggest an involvement of the Government are not permitted.

Name Suffixes
Limited, Public Limited Company or its abbreviations.

Language of Company Documents
English

Duration of Incorporation
About 10 days. Incorporation within one day possible for an extra fee.

Shelf Companies
Yes

 

Malta is located in the center of the Mediterranean Sea and consists of the thre main islands Malta, Gozo and Comino. The capital is Valetta. With its about 400.000 inhabitants, Malta is one of the most densely populated countries of the world. The Maltese language belongs to the Semitic languages, about 50 % of its vocabulary is of European origin. Malta is independent from England since 1964, and member of the EU since 2004.

General Information

Legal System:
Civil Law

Economy
Tourism is the by far most important source of income in Malta.

Currency
Euro

Language
The official languages are Maltese and English.

Time Zone
GMT + 1 hour

 

Company Information

Forms of Companies
Maltese International Trading Company, ITC
Maltese International Holding Company, IHC

Company Law
Companies Act 1995. The Company Law, the maritime law and the the Tax Law are similar to their British models.

Minimum Capital Requirement
Private Company: €1.165,00, whereof 20 % has to be paid.
Public Company: €46.590,00, whereof 25 % has to be paid.

Restrictions
Maltese companies may not conduct financial business if an appropriate licence has not been issued.
ITC und IHC companies are not permitted to conduct business within Malta.

Taxation
The general corporate tax in Malta is 35 %. However, International Maltese Trade Companies and
International Maltese Holding Companies receive a tax reimbursement, reducing the effective tax level to 4,17 %.

Double Taxation Avoidance Treaties
Double Taxation Avoidance Treaties exist with 36 countries.

Annual Tax Returns
Yes

Annual Fincancial Reports
Yes

Annual Licence Fee
No

Registered Address of Company and Incorporation Agent
Registered address of company has to be in England or Wales.
Incorporation agent not necessary.

Secretary of Company
A natural person resident in Malta wohnhafte ahs to be registered as secretary of company.

Directors
Nationality and country of presidence not important. Natural or legal persons.

Shareholders
At least two, if the shareholders are natural persons. falls die Aktionäre natürliche Personen sind.
At least one, if the shareholder is a legal person.

Grade of Discretion
Discretion may be obtained through trustees.

Disclosure of Beneficiary
Discretion may be obtained through trustees.

Disclosure of Directors
Yes. Anonymity may be obtained through a company acting as trustee.

Disclosure of Shareholders
Yes

Bearer Shares
No

Currency Controll
No

Name of Company
May be in any language using Latin letters.

Name Restrictions
Words such as "Royal", "Imperial", "Bank", "Insurance" or "Assurance", "Trust", as well as offensive and obscene names are not permitted.

Name Suffixes
Limited or Ltd.

Language of Company Documents
English

Duration of Incorporation
5 working days

Shelf Companies
No

 

Singapore is a member of the Britisch Commonwealth and is located at the southerly end of the Malay peninsula in South East Asia. Independent from England since 1965. The population of about 4,6 Mio consists of 75 % people of Chinese descent and 25 % of Malay descent.

General Information

Legal System:
Independent legal system based on British Common Law.

Economy
Singapore is an international hub of aviation and merchant shipping. Singapore is one of the World's financial centers with subsidiaries and branches of many international banks and financial institutions, auditing companies and law offices.

Currency
SGD (Singapore Dollar)

Language
Official language is English. Mandarine and Malayan are also used as official language.

Time Zone
GMT + 8 hours

 

Company Information

Forms of companies
Companies are recognized as tax-resident and non tax-resident

Company Law
Singapore Companies Act.

Minimum Capital Requirement
Minimum paid capital: SGD 1,00.
Generally authorized capital: SGD 100.000,00

Restrictions
Companies may not conduct financial business and not engage in educational and media business, if no appropriate licence has been obtained.

Taxation
Tax-resident companies: 24,5 %
Non tax-resident companies: 24,5 %
Non tax-resident companies may be exempted from tax under certain conditions.

Double Taxation Avoidance Treaty
Singapore maintains a wide network of Double Taxation Avoidance Treaties.

Annual Tax Returns
No

Annual Financial Reports
Yes. To be prepared by an auditor licenced in Singapore and to be submitted to the Registrar.
Tax-exempted companies are exempted from this provision.

Annual Licence Fee
No

Registered Office
The registered office of the company must be maintained in Singapore.

Secretary of Company
A natural person residing in Singapore must be registered as secretary of company.

Directors
At least two, one has to be a natural person residing in Singapore.

Shareholders
At least one.

Disclosure of Beneficiary
Yes

Disclosure of Directors
Yes

Disclosure of Shareholders
Yes

Bearer Shares
No

Currency Control
No

Name of Company
May be in any language using Latin letters.

Namen Restrections
All names esteemed by the Registrar as undesired, offensive, obscene or political.

Name Suffixes
Private Limited or Pte Ltd.

Language of Company Documents
English

Duration of Incorporation
One week

Shelf Companies
Yes

 

 

Will be published later.