The final group of tax havens are countries that do have a system of taxation and impose taxes on residents’ worldwide income. However some countries have special concessions that offer considerable tax advantages in special situations. They include: Cyprus, United Kingdom.
Comparison
| Capital* |
Filing of AA** |
Tax
|
Basis of legal system | Time to form |
Min.Sh. | Min.Dir. | Bearer Sh. Permitted |
|
 Bahamas |
$1 | No | 0 | common | 2-3 days | 1 | 1 | No |
 Belize |
£0 | No | 0 | common | 1 day | 1 | 1 | Yes |
 BVI |
£0 | No | 0 | common | 2-3 days | 1 | 1 | No |
 Cayman Islands |
$1 | No | 0 | common | 1-2 days | 1 | 1 | Yes |
 Cyprus |
€1000 | Yes | 10% | common | 1 week | 1 | 1 | No |
 Delaware |
£0 | No | 0 | common | 1 week | 1 | 1 | No |
 Dubai/UAE |
Dhs 1,000 | Yes | 0 | Federal / Sharia | 1-2 days | 1 | 1 | No |
 Gibraltar |
£0 | Yes | 10% | common | 1 week | 1 | 1 | No |
 Guernsey |
£1 | No | 0 | common | 24 hours | 1 | 1 | No |
 Hong Kong |
€1 | Yes | 0 | common | 5-7 days | 1 | 1 | No |
 Ireland |
€1 | Yes | 12.5% |
common |
8-10 days | 1 | 2 | No |
 Isle of Man |
£1 | Yes | 0-10% | common | 1-5 days | 1 | 2 | No |
 Jersey |
£1 | No | 0-10% | common | 10-14 days | 1 | 1 | No |
 Labuan |
$1 | Yes | 3% | common | 4-8 days | 1 | 1 | No |
 Marshall Islands |
£0 | No | 0 | common | 1-2 days | 1 | 1 | Yes |
 Mauritius |
£0 | No | 0 | common | 1-2 days | 1 | 1 | No |
 Nevis |
$1 | No | 0 | common | 1-5 days | 1 | 1 | Yes |
 Panama |
$1 | No | 0 | civil | 1-2 days | 1 | 3 | Yes |
 Seychelles |
£0 | No | 0 | common | 24 hours | 1 | 1 | Yes |
 Singapore |
S$1 | Yes | 0-17% | common | 5 days | 1 | 1 | No |
 United Kingdom |
£1 | Yes | 20-26% | common | 1 day | 1 | 1 | No |
Capital* - Paid Up Capital Requirement
AA** - Annual Accounts
Tax - Taxation on profits
Min.Sh - Minimum Sharehoders
Min.Dir. - Minimum Directors
Tax Havens
Low-Tax
Foreign Source Exempt
They only tax you on locally derived income.
If all your income is derived outside the tax haven you will not pay any tax.
They include: Hong Kong, Panama, Seychelles, Singapore.
Nil-Tax
These are simply countries that do not have any of the three main direct taxes:
- No income tax or corporation tax
- No capital gains tax, and
- No inheritance tax
The include: Bahamas, Nevis, Cayman Islands.
