Which countries have no reporting requirements?

[pineapple]

If you incorporate in some countries, they have requirements for you to report on financials and other things annually, or to be audited.

Is there a list somewhere of all the countries that have no reporting requirements (on financials, sales figures, meeting minutes, etc) and have no requirements to undergo audits at all?

I haven't been able to find such a list.

 

[negon]

Well some of the countries / offshore jurisdictions are:
Seychelles
Belize

I don't know with‌ the below:
Panama
Cook Islands
Marshall Islands
Isle of Mann
British Virgin Islands
Vanuatu
Andorra

But maybe someone else can shed some light on it.

What business are you into‍ and what's the goals you try to achieve if you dont mind to share?

 

[pineapple]

The goal is to not have to deal with any reporting or paperwork that isn't‌ directly related to the operation of the business.

If you incorporate in countrieswith no reporting‍ requirements, then the only thing that needs to be done every year is just pay⁠ the fee to the registered agent to renew the company for another year?

 

[adoffshore]

Correct, and that's what is⁠ applicable to Seychelles and Belize 😉

 

[pineapple]

Wow 🙂 seems too good to be true. There's really no other filings or anything that‌ needs to be done at all with the local government or anything? That's a tremendous‍ benefit, I wonder why anyone would choose a country other than those 2, what would⁠ they offer than seychelles and belize would not?

 

[Flycatcher]

There's this interesting claim <<link removed not allowed>> where it's possible to get a Vanuatuan‍ residency for a mere 3,200 USD if you have operated a Vanuatuan IBC for at⁠ least 5 years. However the link referenced in that article is broken, so I have⁤ no idea if this applies.

Cook Islands is in a free trade association with New⁣ Zealand (which may be good or bad), and along with Vanuatu, these are much better⁢ accessible for anyone living in Oceania.

Belize does not have the best reputation as a︀ country, which can be alone to deter someone establishing a company there.

From all of︁ the popular offshore countries, along with Mauritius, Seychelles is incredibly remote, and if you ever︂ need to visit it it's not going to be cheap.

Maybe most important of all,︃ Seychelles and BVI offshore companies are immediately known to anyone with even a bit of︄ knowledge of offshore companies, and your company may be restricted access to various services solely︅ based on that. I don't say that this won't happen on other less-known country, but︆ if you operate somewhere away from the mainstream, you can gain additional privacy of this.︇

So in short, lots of reasons to consider as many offshore countries as possible and︈ make your own careful decisions on where to go. 🙂

 

[icecold]

Curious 🙂 Have you been restricted at any time ?

 

[suzy]

Would like if someone could post a link to⁠ an agent that is reliable and can help to register a company in Cook Islands,⁤ anyone?

 

[Flycatcher]

A company specializing in opening bank accounts in Hong Kong had said that many Hong Kong‌ banks do not open bank account specifically for some countries, like BVI, but do for‍ some, like Samoa. I was rejected because my company turnover was not high enough.

I've seen this to be mentioned at several places:

Cook Islands Trust Corporation Ltd - Asset⁤ Protection Trust, Protected Fund Investment Trust, Limited Liability Companies

I emailed them, they were fast⁣ and communication was smooth. I never proceeded further with them though, so I don't give⁢ any specific recommendation here.

 

[negon]

Do you know what they charge for basic setup?

 

[Flycatcher]

Last time I asked it was about $1250 USD per year with some discounts for renewals.‌

 

[municipalityxU]

For Company and registered office address?

 

[happyjohn]

If it's only the 3,200 USd we have to pay to get a Vanuatuan resident and︇ we can avoid tax this way I'm happy to pay that amount.

Do you know︈ of someone that can help?

 

[Flycatcher]

Frankly I don't know‌ but my conversation didn't include any addresses, so I would personally assume no.

Unfortunately this is all I know.⁣ The link I posted was removed, but the person who wrote that article has a⁢ personal forum, you may try your luck there.

Other sources detail at least two favorable︀ kind of residency programs: by investment and by being a "self-funded resident. The former requires︁ an investment of 5,000,000 Vanuatuan vatu (~44800 USD) , and the second required a monthly︂ income of (~2250 USD) "certified" by a Vanuatuan bank. That certification may require that you︃ actually deposit money into a Vanuatuan bank, so you have to due a thorough check︄ to ensure that the banks there are actually stable.

Aside from actually having the money,︅ this seems like an easy way to get a residence. Vanuatu has 0% personal profit︆ tax, so if you legally establish a residence there, then yes, you may avoid personal︇ taxes.

 

[happyjohn]

That may be possible for some of us here.. I will try to‍ gather more information on this topic to see if it is something I want to⁠ dive deeper into.

 

[clemens]

are there any countries left? 8 years since this thread was created, still relevant as‌ hell.