Best Offshore countries to set up a business in 2024

Gibraltar

Attractive due to a low-tax regime and robust economic growth.

No VAT, holding, or turnover tax.

Corporation tax rate: 12.5%.

Incorporation requirements include a registered office and minimum share capital of £100.

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Cayman Islands

A leading domicile for offshore hedge funds.

Corporate tax rate: 0%, with no other corporate, capital gains, or income taxes.

Exempt company option ensures confidentiality.

Quick incorporation in about 5 business days.

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Panama

Stable and affordable with the U.S. dollar as its currency.

Corporate tax is 0% for activities outside Panama.

No complexity if set up correctly.

Requirements include 3 directors and 1 shareholder.

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Belize

Growing in popularity for privacy protection and quick incorporation.

A true tax haven with exemptions from local taxes.

Double taxation agreements with several countries.

No minimum paid-up capital requirement.

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Mauritius

A premier international business center with a stable democracy.

Corporate tax rate: 15% on profits, with various tax advantages.

100% foreign ownership allowed.

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Isle of Man

Positioned as one of the most stable offshore jurisdictions.

Corporate tax: 0%, except for certain cases taxed at 10%.

No inheritance tax and dividends to non-residents taxed at 0%.

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Seychelles

A tax-free jurisdiction with comprehensive confidentiality features.

Seychelles IBC designed for international business with minimal requirements.

No minimum capital requirements.

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Understanding the nuances of each jurisdiction's tax structure and incorporation process is crucial for making informed decisions. Stay updated on any changes to regulations for a successful offshore business venture.

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