There are certain laws that have been put in place in the Bahamas to make sure the Bahamas Company Formation process goes smoothly.
According to the law on Bahamas Company Formation, two or more people can be involved in the incorporation process. (more…)
No CommentsThe Bahamas Company formation procedures have been designed with a particular focus on foreign investments. The state has uniquely designed products geared towards attracting more foreign capital. The state has an array of massive tax exemption offers that run from corporate to personal and sales (more…)
No CommentsAs the title stated, why must you think before? Register Seychelles company is a must, you need not think for anything before!
Offshore company is the most searched company type. It’s the most favourite type of company because of their flexibility on taxes management. This type of company is applied in a country, which want to maximize economic opportunity to the other countries company to invest on the country, with limited restriction or more freedom regulations or laws. (more…)
Over the last ten years Bahamas country has grown to be one of the best places that is a potential growth for international business. Several factors have been attributed to these growth and these include the flexibility of the laws, Low corporation tax, developed infrastructure system and the investment incentives that are provided. (more…)
No CommentsForming a company in Bahamas is commendable. Investors are left with room to decide on whether to form the company through incorporation or through branch operation.
Bahamas has repealed the obsolete Companies Act of 1866 and ushered a new dawn in the business sector with the introduction of a new companies Act which became operational from August 1992. The new law is business friendly and has created more room for companies to thrive. (more…)
Bahamas has emerged to be one of the most demanding centers for offshore commercial activities because it offers a great environment for the formation of offshore company and banking. (more…)
Cyprus is the third largest island on the Mediterranean Sea and is actually at the crossroad between Asia, Africa and Europe. It is a purely independent state with its own legal and constitutional systems which makes offshore company formation easier and thus promoting foreign investment in the country. An offshore company can actually be incorporated in Cyprus after a period of three weeks after registration.
During offshore company formation, there are certain factors that should be considered before settling on the best place to put up the business. The most important is the taxation laws that are applicable in a country. The level of taxation will determine the amounts that will be available for reinvestment. Therefore there’s need to go for a tax system with lowest rates of corporation tax.
Corporate tax on income is the main tax on offshore companies and it currently stands at 10% of the declared profits. Other companies such as maritime management companies are taxed at 4.25% while shipping companies are subject to no taxation at all. But the scenario has not always been like this as prior to the year 2003, all offshore companies and the foreign companies with their subsidiaries in Cyprus were taxed at 4.25% of the total profits. For a foreign company or its branches to be liable for this tax, the management and control should be in Cyprus. However, offshore companies that were formed before 2002 had the option of submitting taxes subject to a 4.5% rate but this benefit was scrapped off in the year 2006.
Dividend income received from foreign investment and royalties received from assets abroad are exempt from withholding tax. Actually no taxes are paid for any profits made from sale of securities. Cyprus has also signed many double tax treaties that ensure that no company will be taxed more than once on its income.
Other provisions in the offshore company tax laws in Cyprus are that various offshore companies can merge without any tax consequences. This is regardless of the reason for the merger whether as a take-over bid or for purposes of reorganization. This provision encourages better performance by the smaller companies that may not have been able to operate at full potential due to some constraints. Merging encourages the offshore companies to take full advantage of the economies of scale.
A unilateral tax relief is accorded to all Cypriot companies including the offshore companies due to any foreign tax suffered even if the double tax treaty is not applicable. Similarly/ when a Cyprus offshore company incurs tax losses, they will be indefinitely carried forward or be surrendered as group relief.
Currently Cyprus has over 120,000 companies of which many are offshore companies. The reason for this is not only the convenient and hassle free offshore company formation process but also the fact that Cyprus offshore tax rates are so far the lowest in the European Union. This means that the Cyprus is probably the best place to invest in when venturing into the offshore business.
Offshore Company Formation and Offshore Bank Account (C) 2009 – CCLOGIC.COM – Register your Offshore Company today.