Switzerland is in the heart of Europe. According to Credit Suisse and the eighth-highest per capita gross domestic product, it has the highest nominal wealth per adult in the world.
Switzerland is a wealthy and stable nation globally known for its renowned banking sector and low taxation. The offshore companies in Switzerland are taxed on three levels: federal, cantonal, and communal. The federal tax rate is only 8.5 percent, and low cantonal taxes apply.
Panama is a Central American country gaining a reputation worldwide for its exemplary corporate and financial services. The government's documented tax advantages and the promising economic performance of the country are the two factors to which the experts attribute progress. As a result of this, foreigners are more tempted to form an offshore company in Panama.
Having said all of the above, it is crucial to know that the choice of jurisdiction should eventually be determined by the requirements you will have for your business. Offshore company registration should be done after a thorough analysis of what your business will require.
Offshore Company in Switzerland
Features of an Offshore Company in Switzerland
- All the shares in an offshore company can be owned by foreigners.
- A minimum of one shareholder is good enough to form an offshore company in Switzerland.
- A minimum of only one director is required to form Switzerland's offshore company formation.
- The name of the shareholder is not registered in the public registry of the government.
- Nominee shareholders and directors are readily available for additional privacy.
Advantages of an Offshore Company in Switzerland
- Personal taxes and the income tax rate are meager here.
- Even no corporate tax is charged on profits.
- No restriction in maintaining accounting records and documents.
- There is no need for any minimum share capital to form an offshore company in Switzerland.
- No value-added tax is also charged
Offshore Company in Panama
Features of an Offshore Company in Panama
- No corporate taxation after Panama offshore company formation.
- There must be a registered office in Panama.
- Minimum government fees excluding tax are the US $250
- Bearer shares are allowed but do not allow par value shares
- A minimum of three directors is required.
- A minimum of only one shareholder is required to form an offshore company in Panama.
Advantages of an Offshore Company in Panama
- Panama is a multicultural transit country located at the centre point of North and South American business operations.
- A considerable portion of businesses fluently uses English and Spanish, which minimizes any language barrier.
- Panama has been continuously increasing its financial and infrastructure service industries.
- No limitation in foreign exchange
- All shareholders enjoy maximum privacy.
- The incorporation process is pretty quick.
Requirements for Incorporation of a Swiss Offshore Company
Articles of Association
- Draft and agree
- Name of the company
- Registered office and address
- Capital structure
- Details of the founder and Signatory powers
- Board of directors and signatory powers
- Statutory auditors
- Officers and signatory powers
Auditor Acceptance Letter
- The auditor appointed must confirm the acceptance in writing.
Paid in Capital Confirmation
- It must be in the blocked account if it is paid in cash.
Power of Attorney
- Representing the founders in incorporation matters
- Declaration of incorporation
- Draft and agree if applicable
- A register must be created, and initial entry certificates must be issued.
Commercial Registry Submission
- Details of the new company
- Details of the notarized public deed
- Details of the accompanying documents to be submitted to the commercial registry
Requirements for Incorporation Process of a Panama Offshore Company
- Names and addresses of all the shareholders of the company incorporated.
- A unique name for the company
- Company's address and objectives
- The amount of share capital
- The number and nominal value of the shares in which the share capital is divided
- List of the board of directors, including their designations
- Several shares that each of the shareholders agrees to take.
- Name and address of the resident agent
- Company's duration
Whether you aim to open your offshore company in Switzerland or in Panama, you should know both types of business formation. Offshore strategies might be highly beneficial overall at both these locations, but there are repressive measures to consider.
It is always advisable that you take the help of a business incorporation expert to get you through the entire incorporation process smoothly. There are several core reasons to hire an offshore business consultant.
We here at Business Setup Worldwide provide a platform to guide you through the entire registration process, along with other services that you will require for an offshore company to be fully functional. If you need any assistance, then you can contact us! We'd be glad to assist you.