TYPES OF COMPANY:
- International Business Companies (IBCs)
- LLCs, called Societies With Restricted Liabilities (SRL)
- Companies Providing International Financial Services
- Exempt Insurance Company
- Qualified Insurance Company
- External Company
- Protected Cell Companies
CAPITAL REQUIREMENTS:
- IBC $1.
- Exempt Insurance Company $125,000
- Company Providing International Financial Services and accepting third party deposits $2 million; If not accepting third party deposits $500,000.
| # | Title |
|---|---|
| Annual fees: | $1,400(for IBCs) |
| Rate of Taxation: | International Business Companies 1% – 2.5% |
| How long to incorporate: | 5 business days on average. 24 hours for urgent requests. incorporation |
| No. of Directors needed: | Minimum of one. May be foreign or local. May be person or Corporation. If there is a Secretary a local person is recommended |
| Disclosure required: | No |
| Annual meetings: | One annual general meeting required each year. Location subject to By-Laws. First shareholders must be within 18 months of incorporation. Next meeting 15 months thereafter. Shareholder meetings may be in person or by telephone, subject to By-Laws.IBCs must file their financial statement with the International Financial Unit. These must be audited if revenues are $1 million or more. They are not available to the public. Annual returns not required. |
| Exchange controls: | None for IBCs |
BANK ACCOUNT OPENING
| Name | Price | Detail |
|---|---|---|
| Caribbean | $500 | |
| Europe | $800 | |
| Hong Kong | $1,000 |