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Internet and Offshore activities through International Business Company in BVI

If you think about to open a offshore company in British Virgin Island (BVI), most like you will chose International Business Company (IBC). Here is a few informations concerning the main facts about British Virgin Island’s company.; while Internet trading and IBC will give you full advantage to use BVI taxation.

IBC – International Business Company
– Companies Limited by Shares – the most popular form of BVI company
– Exempt from income tax and from stamp duty
– Almost all insurance company, mutual and hedge funds and foreign investors and traders use IBC
– No special rules applying to foreign or BVI employees of operations
– No exchange control

One of the most typical nature of business are; sales, export ( without a lading in your country of residence), marketing, web development, software, training, supply of financial services and many others. Not only services though, physical goods might avoid a permanent establishment (taxable presence) altogether in many high-tax jurisdictions.

A few points you should be aware of:
1. Choose the right jurisdiction and company form
– in our case: British Virgin Island and International Business Company, you might have a bank account in some another country if you prefer so
2. Set the technical part
– chose your hosting provider and phone location
3. Your business model
answer your questions: How, where, when and what?!

If you are about to open up a bank account in BVI visit our websites!

What is RAK – offshore company?

Why to open up a company in United Arab Emirates (UAE)

United Arab Emirates has decided to support the RAK – Ras Al Khaimah –  emirate as a industrial center by introducing many business advantages and tax reliefs. UAE government has launched on offshore facility with an expectation to attract more investors looking for tax haven. Companies seeking for International Business Company in RAK Free Trade Zone don’t have to establish a physical presence. IBS in RAK is the cheapest offshore solution in middle east with the best location situated between Qatar, Saudi Arabia and Oman. An interesting option for those who concern about the tax haven stigma applying for many tax haven jurisdictions by OECD.
 

Advantages of a UAE Offshore Company:

100% repatriation of profits and capital is allowed

No withholding nor import or export taxes

No accounting or reporting requirements

No corporate taxes are charged

Advantage of RAK Free Trade zone

 

Start your own company in offshore emirates RAK of the United Arab Emirates.

Start your business in United Arab Emirates (UAE) – Ras Al Khaimah (RAK)

 

Startupr will work with you to handle your RAK Free Zone company formation from start to finish. Download our form and send to us tomas[at]startupr.com.

Ireland Corporate Tax Rates

SINGAPORE - Tax Exemption Company - Startup

Rates of Corporation Tax:
– 12.5% for trading companies
– 25 % for non-trading income

 

Starups and exemption
An exemption from corporation tax for the first three years:
– a company incorporated after 14th of October 2008 and has commences to trade
– an exemption from Corporation Tax and capital gains tax on the assets used for the trade
– not relief avaible where profits exceed € 60,000

 

tax relief restriction if; the trade was carried on by another person, the trade was carried on by associated company, trading company carrying on trading with: coal, petroleum, agriculture or another exporting activities.

 

Taxable ProfitsYear 2011
Profit not exceeding € 40,000Full exemption
€ 40,000 to € 60,000Marginal relief
> € 60, 000Fully taxable

At the current rate of corporation tax i.e. 12.5% this equates to €320,000 of profits per year. Where corporation tax for the period is between €40,000 and €60,000, marginal relief will apply. The maximum amount of corporation tax relief is €40,000 per annum for 3 years.
In addition to the taxation issues you need to consider there are various other practical and legal matters which should be taken into account when setting up a company and on which you should seek professional advice.

 

 

Open Belize International Business Company (IBC)

Belize_Order_Form_International_Business_Company.docx
DOC document

Incorporate your Beliz IBC. Download the form and send it back to: tomas[at]startupr.com

UK Limited Company – Corporation Tax

Singapore - Tax resident or non-resident?

– company incorporated (resident companies) in the UK (or Foreign) is subject to corporation tax at prevailing rates on their worldwide income (capital and ordinary income)
– company being recognized as a branch (non-resident company carrying on a trade in the UK) is taxed on the income of a branch carrying on a business in the UK and on United Kingdom sourced investment income.
– if you nominate yourself as a director, you will need to pay tax on your salary (subject of all incomes derived from company – benefits in kind, dividend income and other income) and operate PAYE and National Insurance.
– from April 2011 – for accounting periods after 31 March 2010 – all Company Tax Returns must be filed online and payment proceed electronically.

 

Once you set up Limited Company:
– inform HMRC about your activity (form CT41G) this form you can find: www.businesslink.gov.uk/ct/start-a-company
–  tax return is supposed to be completed of the end of the accounting period. fill it online at: www.businesslink.gov.uk/ct/online
– fill and pay the corporation tax
– operate PAYE for employee’s as well as for directors’s income

 

Corporation Tax
– pay your Corporation Tax before the deadline to file your Company Tax Return

 

e.g. Lets say your company’s financial year began on 1st of April 2011 to 31st of March 2012, and your accounting period is the same than you have to pay your Corporation Tax for that period by 1st of January 2013 and file your Company Tax Return for that period by 1st of April 2013.

 

Bear in mind, it’s your responsibility to fill and pay all tax returns on the time. Many people choose to use an accountant in order to manage this. You might get a basic help at businesslink.gov.uk.

 

Corporation Tax Rates
Taxable ProfitsYear 2011
Profit not exceeding £ 300,00020%
300,001  – 1,500,000Margin relief fraction 3/200*
On profits over $ 1,500,00026%

* How to calculate marginal relief please visite HMRC.

Open offshore company (IBC – International Business Company) in Panama

 

The Republic of Panama known as Panama has the largest shipping (register a boat, ship, yacht or other marine vessel) and maritime registry in the world. The biggest reason is the easy way how proceed the registration and very low government fees. International Business Companies (IBC) is commonly used for stock trading, real estate, boats, and air crafts. The income tax of Panama IBC applies for companies operating a business within the Panama territory where the net income derived. Income derived from outside of the territory is not considered as subject – not taxable of local Law.

– The oldest and largest open ship registry
– Strategic geographical position for your business
– Ships with owners of any nationality
– No requirements for annual tax return or financial statement

Highlights
– no tax on Offshore Profits
– min number of shareholders – on
– min number of directors – three (Startupr can provide 2 directors)
– company secretary required
– no local director is needed
– no annual return and accounts filling is required
– minimum annual tax/license fee of 250 US$

If you are about to open your offshore company with Startupr, please feel free to download an order form and send it to: tomas[at]startupr.com

Open Panama International Business Company (IBC)

Incorporate / Open / Found your Panama International Business Company (IBC). Download the form and send it back to us: tomas[at]startupr.com

Start your business in Mexico

The United Mexican States –  commonly known as a Mexico have thirty-one states; recognized as 13th largest economy according to nominal GDP; almost every year with export of 50% to USA and Canada.

Principal business entities:
– corporation (Limited) – SA
– Limited Liability Compnay – SRL

Taxes in Mexico are divided into:

Federal Taxes
– Taxes on income
– VAT – value added tax
– Import and Export taxes
– Payroll taxes (payable by employee)

Local taxes
– Real property
– Salaries (payable by employee)
– Acquisitions property, M&A

Corporate taxation
– 17,5 % for 2011
– calendar year for income tax purposes

Withholding tax:
Dividends – not imposed withholding tax on dividends

If you would like to read more about the taxation please visite Deloitte and for incorporation/opening new company Startupr.

Mexico – Incorporation of Limited Company

 

Incorporate your Mexican Limited company. Download the form and send it back to us: tomas[at]startupr.com