ALBA MANAGEMENT
SERVICES LIMITED
 Company Formations & Company Management

ALBA - Jurisdictions

Alba can provide professional corporate services of the highest standards in almost any jurisdiction including the Bahamas, British Virgin Islands, Cyprus, Isle of Man, UK, Gibraltar, Seychelles, Cayman Islands, etc.

 




THE BAHAMAS
BRITISH VIRGIN ISLANDS
CYPRUS
ISLE OF MAN
UNITED KINGDOM
GIBRALTAR
SEYCHELLES
CAYMAN ISLANDS

 

 

 

 

 

 

 

 

 



THE BAHAMAS


Now an independent republic, the Bahamas first introduced offshore legislation in 1989 with the introduction of the International Business Companies Act. Since then, its legislation has been amended to become one of the most user friendly in the offshore world.
From the early 17th century up until 1973, the Bahamas was a British colony and the government is still run along British lines with the British monarch as the head of state, represented on the islands by a governor-general. The Bahamas represents a good location for your offshore company given that it is a long-established and well-respected jurisdiction

  • Established offshore territory
  • Guaranteed zero corporate taxation
  • No public disclosure of beneficial ownership
  • Strong supporting infrastructure of banks, lawyers and accountants
  • Fast incorporation - 24 hours Highly flexible, modern legislation


Map of Bahamas, The


BAHAMAS

General

Type of entity

IBC

Type of law

Common

Shelf companies available

Yes

Our time to establish a new company

3 days

Minimum government fee

USD350

Corporate taxation

Nil

Double tax treaty access

No

Share capital or equivalent

Standard currency of share capital

USD

Permitted Currencies of Capital

No restriction.

Minimum paid up share capital

USD1

Usual Authorised Share Capital

USD50,000

Directors or Managers

Minimum Number of Directors/Managers

One

Local Directors Required/Permitted

No

Government Register/Public Record of Directors/Managers

Yes

Location of Directors/Managers Meetings

No restriction.

Members

Minimum Number of Shareholders/Members

One

Government Register/Public Record of Shareholders/Members

No

Location of Members Meetings

No restriction.

Company Secretary

Company secretary required

No

Company secretary, local or qualified

No

Accounts

Requirement to prepare accounts

Yes

Audit requirements

No

Requirement to file accounts

No

Publicly accessible accounts

No

Other

Requirement to file annual return

No

Change in Domicile Permitted

Yes



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BRITISH VIRGIN ISLANDS

The British Virgin Islands first enacted legislation for the incorporation of International Business Companies in 1984. It is the most prolific of all offshore jurisdictions. The chief reason for this is the relatively simple legislation and low costs. The BVI government has also taken the judicious decision to disallow the formation of offshore banks on its territory, and this appears to have helped in circumventing the money laundering activities which other jurisdictions are constantly battling.

  • Long-established and well-respected jurisdiction
  • Zero corporate taxation
  • Same day incorporation possible
  • International Business Company status
  • Highly flexibly, modern legislation
  • No minimum authorised capital
  • Choice of corporate structures


Map of British Virgin Islands


BRITISH VIRGIN ISLANDS

General

Type of entity

IBC

Type of law

Common

Shelf companies available

Yes

Our time to establish a new company

3 days

Minimum government fee

USD350

Corporate taxation

Nil

Double tax treaty access

No

Share capital or equivalent

Standard currency of share capital

USD

Permitted Currencies of Capital

No restriction.

Minimum paid up share capital

USD1

Usual Authorised Share Capital

USD50,000

Directors or Managers

Minimum Number of Directors/Managers

One

Local Directors Required/Permitted

No

Government Register/Public Record of Directors/Managers

No

Location of Directors/Managers Meetings

No restriction.

Members

Minimum Number of Shareholders/Members

One

Government Register/Public Record of Shareholders/Members

No

Location of Members Meetings

No restriction.

Company Secretary

Company secretary required

Optional

Company secretary, local or qualified

No

Accounts

Requirement to prepare accounts

Yes

Audit requirements

No

Requirement to file accounts

No

Publicly accessible accounts

No

Other

Requirement to file annual return

No

Change in Domicile Permitted

Yes


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CYPRUS

Cyprus is a jurisdiction that benefits from an extensive network of double taxation treaties. Cyprus first started its offshore operation in 1975, with the introduction of tax-efficient legislation for the non-resident investor. Since then, its low taxation rates, coupled with an extensive double taxation treaty network, have attracted investors to its shores. Calmanx established its office there in 2004 in order to expand its operations into markets not readily attainable from its Isle of Man base.

  • Good for Middle Eastern, Central and Eastern European investors
  • Not a "tax-haven" jurisdiction
  • Extensive double tax treaties
  • Common Law system
  • Low tax rate
  • Shelf companies available
  • Resident office not required
  • Choice of corporate vehicles


Map of Cyprus


CYPRUS

General

Type of entity

IBC

Type of law

Common

Shelf companies available

Yes

Our time to establish a new company

3 days

Minimum government fee

Not applicable

Corporate taxation

10%

Double tax treaty access

Yes, multiple treaties.

Share capital or equivalent

Standard currency of share capital

Cyprus Pound

Permitted Currencies of Capital

No restriction.

Minimum paid up share capital

CYP 5,000

Usual Authorised Share Capital

CYP 5,000

Directors or Managers

Minimum Number of Directors/Managers

One

Local Directors Required/Permitted

No, but advisable for purposes of tax residency

Government Register/Public Record of Directors/Managers

Yes

Location of Directors/Managers Meetings

No restriction, but Cyprus advisable for purposes of tax residency

Members

Minimum Number of Shareholders/Members

One

Government Register/Public Record of Shareholders/Members

Yes

Location of Members Meetings

No restriction.

Company Secretary

Company secretary required

Yes

Company secretary, local or qualified

No, but Cyprus advisable for residency.

Accounts

Requirement to prepare accounts

Yes

Audit requirements

Yes

Requirement to file accounts

Yes

Publicly accessible accounts

No

Other

Requirement to file annual return

Yes

Change in Domicile Permitted

No


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ISLE OF MAN

Calmanx started life in the Isle of Man which has a long and proud history as an independent state. The Island boasts the world's oldest surviving parliamentary system. It is a highly rated jurisdiction amongst professionals, having been awarded "Best Offshore Financial Services Centre" in 2006 at the recent International Money Marketing annual awards. The Isle of Man benefits from an agreement that allows Isle of Man companies to be VAT Registered, and is considered an excellent gateway into Europe for trading and holding companies.

  • Well developed infrastructure and e-business opportunities.
  • Highly respected jurisdiction with effective regulation.
  • No stamp duty, estate duty or capital gains tax.
  • Shelf companies available.
  • No exchange controls.
  • Good structure for trading companies due to VAT Registration.
  • Excellent supporting infrastructure of banks, accountants, and lawyers.


Map of United Kingdom


ISLE OF MAN


General

Type of entity

LLC

PrivateLimited

Type of law

Common

Common

Shelf companies available

Yes

Yes

Our time to establish a new company

1 day

1 day

Minimum government fee

GBP475

GBP250

Corporate taxation

Transparant

0-10%

Double tax treaty access

No

UK only

Share capital or equivalent

Standard currency of share capital

None

GBP

Permitted Currencies of Capital

Not applicable

No restrictions.

Minimum paid up share capital

Not applicable

GBP1

Usual Authorised Share Capital

Not applicable

GBP2,000

Directors or Managers

Minimum Number of Directors/Managers

One

Two

Local Directors Required/Permitted

No

No

Government Register/Public Record of Directors/Managers

Yes

Yes

Location of Directors/Managers Meetings

No restrictions

No restrictions

Members

Minimum Number of Shareholders/Members

Two

One

Government Register/Public Record of Shareholders/Members

Yes

Yes

Location of Members Meetings

No restrictions

No restrictions

Company Secretary

Company secretary required

Not applicable

Yes

Accounts

Requirement to prepare accounts

Yes

Yes

Audit requirements

No

Yes but some exemptions.

Requirement to file accounts

No, but must be available for inspection in the Isle of Man

Yes

Publicly accessible accounts

No

No

Other

Requirement to file annual return

Yes

Yes

Change in Domicile Permitted

Yes

Yes


UNITED KINGDOM

Perceptions of the United Kingdom do not sit well with the concept of tax efficiency, however, there are a good few structures worth examination by the offshore investor looking to make his investments more tax efficient. The UK's tax structuring can be very attractive, compared with that, say, of mainland Europe. It has a very substantial number of double taxation treaties to call upon and the fact that it is not recognized as a tax haven can have significant advantages when considering the UK as a gateway into Europe.

  • Not perceived as a tax haven.
  • Low taxation compared to rest of Europe.
  • Choice of corporate structure.
  • Shelf companies available.
  • No minimum capital requirement.
  • No restrictions on meeting locations.
  • No exchange controls.
  • On line document filing for speed and efficiency

Map of United Kingdom


UNITED KINGDOM

General

Type of entity

Private, Limited

Type of law

Common

Shelf companies available

Yes

Our time to establish a new company

1-2 days

Minimum government fee

Not applicable

Corporate taxation

19% to 30%

Double tax treaty access

Yes

Share capital or equivalent

Standard currency of share capital

GBP

Permitted Currencies of Capital

No restrictions.

Minimum paid up share capital

GBP1

Usual Authorised Share Capital

GBP1,000

Directors or Managers

Minimum Number of Directors/Managers

One

Local Directors Required/Permitted

No

Government Register/Public Record of Directors/Managers

Yes

Location of Directors/Managers Meetings

No restrictions.

Members

Minimum Number of Shareholders/Members

One

Government Register/Public Record of Shareholders/Members

Yes

Location of Members Meetings

No restrictions.

Company Secretary

Company secretary required

Yes

Company secretary, local or qualified

No

Accounts

Requirement to prepare accounts

Yes

Audit requirements

Yes, but small company exemption

Requirement to file accounts

Yes

Publicly accessible accounts

Yes

Other

Requirement to file annual return

Yes

Change in Domicile Permitted

Yes, but subject to approval of Inland Revenue


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GIBRALTAR

As a dependent (but self-governing) territory of the UK, Gibraltar entered the EU at the same time as the UK. However, it is not part of the EU's Vat or other external tariff systems. Gibraltar has been trading as an offshore centre since the introduction of the Companies (Taxation and Concessions) Ordinance in 1967, which enacted a preferential tax regime for international business. It was one of the first British dependent territories to implement an offshore tax-exemption regime.

  • Choice of corporate vehicles
  • Common Law system
  • English and Spanish speaking territory
  • Very cost-effective
  • Tax exemption permitted
  • No exchange controls
  • Shelf companies available



Map of Gibraltar

 

GIBRALTAR

General

Type of entity

Exempt

Type of law

Common

Shelf companies available

Yes

Our time to establish a new company

5 days

Minimum government fee

£450

Corporate taxation

No

Double tax treaty access

No

Share capital or equivalent

Standard currency of share capital

GBP

Permitted Currencies of Capital

No restrictions.

Minimum paid up share capital

GBP100

Usual Authorised Share Capital

GBP2,000

Directors or Managers

Minimum Number of Directors/Managers

One

Local Directors Required/Permitted

No - if local secretary

Government Register/Public Record of Directors/Managers

Yes

Location of Directors/Managers Meetings

No restrictions.

Members

Minimum Number of Shareholders/Members

One

Government Register/Public Record of Shareholders/Members

Yes

Location of Members Meetings

No restrictions.

Company Secretary

Company secretary required

Yes

Company secretary, local or qualified

No

Accounts

Requirement to prepare accounts

Yes

Audit requirements

Yes, but small company exceptions

Requirement to file accounts

Yes, but small company exceptions

Publicly accessible accounts

Yes, but small company exceptions

Other

Requirement to file annual return

Yes

Change in Domicile Permitted

Yes

SEYCHELLES

Legislation in the Seychelles is based on the Bahamian model and as such the jurisdiction offers user friendly incorporation and ongoing management. The Seychelles are an excellent investment base for investors between Europe and the Far East, being between these time zones, and have the benefit of a multi-lingual population, with English and French as the two business languages. The Seychelles main interest for investors is in its shipping registry and in the use of its International Trade Zone, set up to attract import-export business.

  • Not commonly perceived as a tax haven
  • Migration of companies permitted
  • No need to report changes in structure to Registrar
  • Hybrid legal system
  • Zero taxation
  • No disclosure of beneficial owners
  • Highly flexible modern legislation



Map of Seychelles


SEYCHELLES

General

Type of entity

IBC

Type of law

Hybrid

Shelf companies available

Yes

Our time to establish a new company

3 days

Minimum government fee

USD100

Corporate taxation

Nil

Double tax treaty access

No
Share capital or equivalent

Standard currency of share capital

USD

Permitted Currencies of Capital

No restrictions.

Minimum paid up share capital

USD1

Usual Authorised Share Capital

USD100,000

Directors or Managers

Minimum Number of Directors/Managers

One

Local Directors Required/Permitted

No

Government Register/Public Record of Directors/Managers

No

Location of Directors/Managers Meetings

No restrictions.

Members

Minimum Number of Shareholders/Members

One

Government Register/Public Record of Shareholders/Members

No

Location of Members Meetings

No restrictions.

Company Secretary

Company secretary required

No

Company secretary, local or qualified

No

Accounts

Requirement to prepare accounts

Yes

Audit requirements

No

Requirement to file accounts

No

Publicly accessible accounts

No

Other

Requirement to file annual return

No

Change in Domicile Permitted

Yes


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CAYMAN ISLANDS

The Cayman Islands is the site of the world’s largest offshore banking centre. It is a well established jurisdiction operating as an offshore centre since shortly after becoming a British Dependent Territory in 1972 - before that they had been a British Crown Colony since 1655.

  • Long-established and well-respected jurisdiction
  • No exchange controls
  • Zero taxation
  • Strong supporting infrastructure of banks, lawyers and accountants
  • Choice of corporate structures
  • User friendly, modern legislation
  • No minimum capital requirements
  • Speedy incorporation

 

Map of Cayman Islands


CAYMAN ISLANDS

General

Type of entity

Exempt

Type of law

Common

Shelf companies available

Yes

Our time to establish a new company

5 days

Minimum government fee

USD610

Corporate taxation

Nil

Double tax treaty access

No

Share capital or equivalent

Standard currency of share capital

USD

Permitted Currencies of Capital

No restrictions.

Minimum paid up share capital

USD1

Usual Authorised Share Capital

USD50,000

Directors or Managers

Minimum Number of Directors/Managers

One

Local Directors Required/Permitted

No

Government Register/Public Record of Directors/Managers

No

Location of Directors/Managers Meetings

No restrictions.

Members

Minimum Number of Shareholders/Members

One

Government Register/Public Record of Shareholders/Members

No

Location of Members Meetings

No restrictions.

Company Secretary

Company secretary required

No

Company secretary, local or qualified

No

Accounts

Requirement to prepare accounts

Yes

Audit requirements

No

Requirement to file accounts

No

Publicly accessible accounts

No

Other

Requirement to file annual return

Yes

Change in Domicile Permitted

Yes

 
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