TYPES OF COMPANY:
- International Business Companies (IBCs),
- Limited Liability Companies (LLC).
- External Companies
- Shareless or “non-profit company
|Capital requirements:||No minimum; No maximum|
|Rate of Taxation:||Not for IBCs or shareless companies. LLCs pay 30% corporate tax on net profits|
|How long to incorporate:||one business day|
|No. of Directors needed:||Minimum of one. May be foreign or local.|
|Disclosure required:|| Yes. For members of LLCs and beneficial owners of external companies. |
Must check regulations for IBCs. Information may be shared with jurisdictions with
which there are mutual agreements.
|Annual meetings:||Annual Directors/Shareholders meetings required|
|Annual returns:|| Required with information on directors and members. Financial statements required with |
information on directors or members. Must check regulations for IBCs.
BANK ACCOUNT OPENING