The countries we have selected for you do not have any special qualifications for company registration. The only requirement is that you must be of legal age, 18 years old. 

Offshore companies do not have any specific business orientation. As long as you need to transfer funds from overseas or sell products overseas, you need to set up an offshore company. It is especially necessary for companies engaged in foreign trade, cross-border e-commerce and other offshore businesses.In addition, industries such as real estate, shipping, aviation, insurance, personal and management services are also recommended to register offshore companies for circulation to avoid capital gains tax and inheritance tax, greatly reduce tax and crew and compliance costs, and save a lot of expenses.

Hong Kong has a relatively simple tax system. Under normal circumstances, Hong Kong companies need to pay the following taxes:

Profits Tax: All profits of Hong Kong companies need to pay profits tax at a rate of 16.5%. Unless the company’s income is entirely from outside Hong Kong, the company must declare profits tax.

Business Tax: Hong Kong does not have business tax, but some industries such as hotels and bars need to pay special license fees.  

Stamp Duty: Hong Kong companies need to pay stamp duty when transferring shares and property transactions. The tax rate depends on the transaction amount.

Property Tax: Hong Kong companies need to pay property tax, which is calculated based on the annual rental value of the company’s property at a rate of 5%.

Social Insurance: Hong Kong companies need to pay social insurance for employees, including mandatory provident fund, employer’s compensation insurance and employer’s liability insurance. 

US companies need to pay the following taxes:

Federal Income Tax: Levied in the form of corporate income based on factors such as company revenue, expenses and profits. The federal income tax rate ranges from 21% to 35%.

State Income Tax: Most states also levy income tax on corporate income. State income tax rates vary by state, typically ranging from 4% to 10%.

Employer’s Social Insurance Tax: Companies must pay social insurance tax to employees, including social security tax and health insurance tax. Companies must pay employer’s social insurance tax equal to their employees’ social insurance tax.

Employer’s Federal Unemployment Tax: Companies must pay unemployment tax to the federal government to fund unemployment insurance programs. Companies must pay a certain percentage of their employees’ wages as employer’s federal unemployment tax.

In addition, companies may need to pay other taxes such as property tax, sales tax, and business tax. The specific tax situation varies by state. 

For BVI companies incorporated in the first half of the year (January to June), the annual audit deadline is May 30 each year. For example, a company incorporated on May 11, 2020 has an annual audit deadline of May 30, 2021.  

For BVI companies incorporated in the second half of the year (July to December), the annual audit deadline is October 30 each year. For example, a company incorporated on November 11, 2020 has an annual audit deadline of October 30, 2021.Consequences of overdue:

•If the company is overdue for 1-2 months for the annual audit, it will be fined 10% of the annual audit fee;  

•If overdue for 3-4 months for the annual audit, it will be fined 50% of the annual audit fee; 

 •If overdue for 5 months without an annual audit, the business license will be suspended and the company will be cancelled.

All BVI offshore companies must comply with the established annual audit regulations to avoid penalties and prevent the company from being cancelled. 

After incorporation, Singapore companies need to conduct an annual audit every natural year. The latest deadline for the company’s annual audit is within 15 months after the previous annual audit. At the same time, the company’s financial report needs to be completed within 6 months before the annual audit, otherwise penalties will be imposed.  

Companies incorporated in Singapore are required to conduct annual audits, whether dormant or active. Every Singapore company needs to conduct an annual audit.