The best tax havens of 2021
The issue of choosing tax havens in 2021 is becoming relevant. These territories have recently become in demand among businesses, despite the fact that the requirements for classic offshore zones have become stricter from the EU and the OECD.
Top countries for starting a company
Taxation in different countries on domestic and international income differs considerably. When registering an offshore company in a tax haven in 2021, the levy on worldwide income may be minimal or even zero. It is possible to legally avoid dividends, gift tax, etc.
The main indicator of a low-tax jurisdiction is the corporate tax rate. The most favorable rate for companies helps to attract entrepreneurs and investors.
Opening a company in Georgia in 2021 is relevant for investors from CIS countries, as it is geographically advantageous and has relatively low tax rates. Companies are subject to taxation if their place of management is located in Georgia. When registering a company in Georgia, income received from Georgian sources is taxed.
In order to avoid double taxation, the country has agreements with more than 50 countries. There is no tax on capital gains, inheritance, and wealth in the territory.
It is possible to register a firm in FEZ; in this case, there is 0% rate on corporate income, imports, property, as well as reduced VAT rates. Enterprises that export goods can use a special customs regime.
The territory is not an official offshore country. It is a well-known financial center offering various incentives for company registration. It is included in the white list of the OECD. It is relevant to open companies that operate in the markets of the EU, Africa, and the Middle East.
Cyprus offers a corporate tax rate of 12.5%, a rate comparatively low in the region. Foreigners, in addition to the tax advantages, can get a permanent residence permit under a special program. Opening a company in Cyprus in 2021 is profitable.
Opening a company in Malta in 2021 is an attractive solution, because due to the tax refund system it is possible to reduce the corporate rate to 5%. There is no inheritance, wealth or gift tax. There is no charge at the source. Foreigners can apply for a residence permit, permanent residency or economic citizenship.
To start a company in Hong Kong in 2021, contact our experts at IT-OFFSHORE. Hong Kong is an administrative region of the China. If the firm operates internationally and receives funds from overseas sources, the interest rate is significantly reduced.
There is no capital gains tax, VAT, as well as interest and dividends income tax.
Opening a company in Singapore in 2021 is attractive due to the fact that the state does not impose taxes on income earned outside the country. There is no charge on capital gains and dividends paid. If the company is new, there is the possibility of an exemption of up to 75%. This exemption can be applied to first earnings.