Top Offshore Companies Comparison Chart
- Last updated on . Written by Offshore Protection.
Offshore Protection's Offshore Company Comparison
The chart represents what are some of the most popular offshore formation products right now. As the offshore formation industry has changed so drastically modern onshore financial centres are becoming more popular for offshore company formation.
Consult the chart below and read on for further country and company-specific details.
| Corporate Details | Panama | Cook Islands | Nevis | Scotland | United Kingdom |
| General | |||||
| Type of Entity | Limited by Shares | Limited Liability | 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 | Limited Liability Companies Act 2008 | 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 | 3 days | 1-2 days | 3-4 days | 1-2 days |
| Minimum government fees (excluding taxation) | USD 250 | USD 200 | USD 200 | GBP 20 | GBP 15 |
| Corporate Taxation | No | No | 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 | NZD Dollar | Eastern Caribbean Dollar (XCD) | GBP Pounds Sterling | GBP Pounds Sterling |
| Permitted currencies | Any | Any | Any | Any | Any |
| Minimum paid up | No minimum | NA | USD 1 | GBP 2 | GBP 1 |
| Usual authorized | USD 10,000 | NA | USD 50,000 | GBP 1000 | GBP 1000 |
| Bearer shares allowed | Yes | NA | Yes | No | No |
| No par value shares allowed | Yes | NA | Yes | No | No |
| Directors | |||||
| Minimum number | 3 Directors/Officers (President, Secretary and Treasurer) | 2 | 3 | 1 | 1 |
| Local required | No | No | No | No | No |
| Publicly accessible records | No | No | 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 |
| Secretary | |||||
| Required | Yes | No | Yes | No | No |
| Local or qualified | No | No | No | No | No |
| Accounts | |||||
| Requirements to prepare | No | No | 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 |
| Gov. Costs | |||||
| Minimum Annual Tax | USD 250 | USD 200 | USD 200 | GBP 100 | NA |
| Annual Return Filing Fee | NA | USD 200 | No | GBP 15 | GBP 15 |
| Other | |||||
| Requirement to file annual return | No | Yes | 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 centre see below:
