Offshore Jurisdictions: The Full List, With Costs, Timelines and List Status
An offshore jurisdiction is a country or territory where you can form a company you do not trade in and are not resident in. The table below compares 18 of them in full, plus a round-up of smaller ones. Government fees start at US$130 in Seychelles, the fastest registry publishes a one-hour standard, and every row shows current FATF and EU list status with the source beside it.
We are an advisory and introduction service, not a law firm, a bank or a tax adviser. Nothing here is legal or tax advice, and forming a company abroad does not end your reporting duties at home.
What is an offshore jurisdiction?
An offshore jurisdiction is a country or territory that lets non-residents form and hold a company there under a separate legal regime, usually taxing only income earned inside its own borders, or nothing at all. The formal synonym is offshore financial centre, which is the term the IMF and the OECD use; offshore jurisdiction is the term buyers use.
Three tax profiles run through the list, and they decide most of the choice.
Zero corporate income tax. The jurisdiction charges nothing on company profits. BVI, Seychelles, Cayman and Belize work this way. Zero corporate income tax on foreign-source income is not the same as no tax at all, and it is never the same as no filing: you still report the company where you live.
Territorial. Only income arising inside the jurisdiction is taxed. Hong Kong charges profits tax on profits arising in or derived from Hong Kong and states plainly that no tax is levied on profits arising abroad, even if they are remitted there.
Treaty network. A real tax rate bought in exchange for double-taxation treaties, banking access and a cleaner name with counterparties. Cyprus, Malta, Ireland and Singapore sit here.
A fourth group barely fits the word offshore at all. Wyoming, Delaware, Ireland and Estonia are fully onshore, fully taxed jurisdictions that happen to give non-residents a usable, low-friction entity.
The full offshore jurisdictions comparison table
Government fees below are what the registry charges. They are not what a company costs: every jurisdiction here requires a licensed registered agent, and several require a resident director, a trustee company or a lawyer. Our fee is shown separately in the full offshore company price list.
Group A. Zero-tax classics
0% corporate income tax on foreign-source income, subject to your home-country reporting.
| Jurisdiction | Entity | Government fee | Annual government fee | Timeline | Tax profile | Substance and records | FATF grey listFATF, 19 Jun 2026 | EU Annex IEU, 17 Feb 2026 | Fee source |
|---|---|---|---|---|---|---|---|---|---|
| British Virgin Islands | BVI Business Company | US$550 (up to 50,000 shares) | US$550 | No published standard | 0% corporate income tax | Economic substance declaration; financial return to the agent within 9 months | Yes | No | Fee schedule |
| Seychelles | Seychelles IBC | US$130 | US$140 | 1 to 2 hours (registry's published standard) | 0% on foreign-source income | Records kept 7 years, lodged at the registered office twice a year; no annual return | No | No | Fee schedule |
| Belize | Belize company | US$150 (up to 50,000 shares) | US$250 | No published standard | 0% on foreign-source income | Records 5 years; quarterly accounts at the registered office if held abroad; annual return by 30 June | No | No | Fee schedule |
| Nevis | Nevis LLC | US$300 | US$300 | No published standard | 25% corporate income tax since 1 January 2024 | Records 5 years; a tax return is required even with no transactions | No | No | Fee schedule |
| Cayman Islands | Exempted Company | CI$700 (up to CI$42,000 capital) | CI$925 | 3 to 5 business days, or 24 hours express | 0% corporate income tax | Economic substance notification by 31 March, before the annual return can be filed | No | No | Fee schedule |
| Cook Islands | International Trust | US$310 | US$310 per renewal period | Under 24 hours | 0% on foreign-source income | A licensed trustee company is mandatory | No | No | Fee schedule |
Group B. Mid-shore
A real tax rate and a real treaty network, bought in exchange for reputation and banking access.
| Jurisdiction | Entity | Government fee | Annual government fee | Timeline | Tax profile | Substance and records | FATF grey listFATF, 19 Jun 2026 | EU Annex IEU, 17 Feb 2026 | Fee source |
|---|---|---|---|---|---|---|---|---|---|
| UAE | RAK ICC International Business Company | AED 3,250 | AED 3,950 | 1 to 2 working days | 0% to AED 375,000, then 9% | Records 5 years; annual return within 30 days of the anniversary | No | No | Fee schedule |
| Hong Kong | Private company limited by shares | HK$3,895 (HK$1,545 registry + HK$2,350 business registration) | HK$2,455 | 1 hour electronic | 8.25% to HK$2m, then 16.5%, on Hong Kong-source profits | Audited accounts required every year | No | No | Fee schedule |
| Singapore | Private limited company | S$315 (S$15 name + S$300 incorporation) | S$60 | Most approved soon after payment | 17%, with a start-up exemption | A resident director is required by law; audit only above the small-company thresholds | No | No | Fee schedule |
| Cyprus | Private limited company | €175 (€165 incorporation + €10 name) | €20 | No published standard | 15% from 1 January 2026 | IFRS financial statements filed with the annual return | No | No | Fee schedule |
| Malta | Private limited liability company | €100 electronic, at the minimum capital band | €85 | About 24 hours | 35%, with a shareholder refund on distribution | Audited accounts every year; minimum capital €1,164.69, of which €232.94 paid up | No | No | Fee schedule |
| Gibraltar | Private company limited by shares | £110 (£100 + £10 stamp duty) | £103 | 3 working days | 15% since 1 July 2024 | Audit unless the small-company exemption applies | No | No | Fee schedule |
| Isle of Man | 2006 Act company | £100 | £380 | 48 hours | 0% standard rate | No accounts filed under the 2006 Act, but a licensed Isle of Man agent is mandatory for life | No | No | Fee schedule |
Group C. Onshore-offshore
Fully onshore, fully taxed registers that non-residents use for a low-friction entity.
| Jurisdiction | Entity | Government fee | Annual government fee | Timeline | Tax profile | Substance and records | FATF grey listFATF, 19 Jun 2026 | EU Annex IEU, 17 Feb 2026 | Fee source |
|---|---|---|---|---|---|---|---|---|---|
| USA, Wyoming | Wyoming LLC | US$100 | US$60 minimum | Immediate online | Fully taxed; a foreign-owned LLC files Form 5472 | Annual report on the formation anniversary | No | No | Fee schedule |
| USA, Delaware | Delaware LLC | US$110 | US$400 annual tax | Not published; expedited tiers from US$50 | Fully taxed; a foreign-owned LLC files Form 5472 | No annual report for an LLC; the tax is due by 1 June | No | No | Fee schedule |
| Ireland | Private company limited by shares | €50 | €20 | 5 working days expedited, 10 ordinary | 12.5% trading, 25% non-trading | Beneficial ownership filed within five months | No | No | Fee schedule |
| Estonia | Osaühing (OÜ) | €200, or €265 expedited | None published | Next working day expedited, 5 working days standard | Tax on distribution only, 22/78 | Annual report within 6 months of year end, even with no activity | No | No | Fee schedule |
Also covered
Listed separately because its list status changes how you should weigh it.
| Jurisdiction | Entity | Government fee | Annual government fee | Timeline | Tax profile | Substance and records | FATF grey listFATF, 19 Jun 2026 | EU Annex IEU, 17 Feb 2026 | Fee source |
|---|---|---|---|---|---|---|---|---|---|
| Panama | Sociedad Anónima | B/.360 (B/.60 registry + B/.300 franchise tax) | B/.300 | No published standard | 0% on foreign-source income | Records delivered to the resident agent by 30 April each year | No | Yes | Fee schedule |
Government fees verified against each registry’s published fee schedule on .
List status verified against FATF and the Council of the European Union on .
Zero-tax classics
Zero corporate income tax does not mean zero compliance. Every jurisdiction in this group now requires accounting records, a registered agent and, in most cases, a substance or records filing. The fees are the smallest part of the cost.
British Virgin Islands, BVI Business Company. The default holding-company standard; banks and lawyers everywhere recognise it. The government fee is US$550 up to 50,000 shares and US$1,350 above it, which is why the standard package is exactly 50,000 shares. The BVI has been under FATF increased monitoring since June 2025. That is not a reason to rule it out, but it does mean slower bank onboarding, and you should know it before you pay.
Seychelles, IBC. The lowest government fee on this page at US$130, and the fastest published registry standard. Popular with Indian founders. The Seychelles removed the annual return in 2021: what replaced it is an internal obligation to keep records for seven years and lodge them at the registered office twice a year.
Belize, Belize company. The Belize IBC no longer exists. The International Business Companies Act was repealed and all companies are now formed under the Belize Companies Act 2022, with existing IBCs carried over. If you are reading a page that still sells you a Belize IBC, it is describing a repealed regime.
Nevis, LLC. The US asset-protection standard, formed under the Nevis LLC Ordinance. The Ordinance limits a judgment creditor to a charging order, which expires after three years and cannot be renewed, and requires a creditor to post a bond set by the High Court before bringing an action. Note what has changed: St Kitts and Nevis rolled back its offshore exemption regime, corporate income tax is 25% from 1 January 2024, and a return is required even from a company with no transactions.
Cayman Islands, Exempted Company. The institutional choice, and the most demanding on compliance. The economic substance notification is due by 31 March and you cannot file the annual return without it. Fees run on authorised share capital, not paid-up, so authorising a million dollars of shares you never issue moves you up two fee bands for the life of the company.
Cook Islands, International Trust. The oldest and most tested asset-protection trust statute. The government fee is US$310, which tells you almost nothing about the cost: the law requires a licensed trustee company, and the trustee’s annual fee is the real number. Registration renewal can run for up to five years, not annually. Both Nevis and the Cook Islands run through our offshore trust setup service.
Mid-shore jurisdictions
Mid-shore means a real tax rate and a real treaty network, bought in exchange for reputation and banking access. You pay more tax and you get taken more seriously.
The UAE is not tax-free, and this is the most common error in this cluster. UAE corporate tax is 0% on taxable income up to AED 375,000 and 9% above it, for financial years beginning on or after 1 June 2023. A free zone company can reach 0% on qualifying income, but only by meeting every Qualifying Free Zone Person condition, keeping audited accounts, and holding non-qualifying revenue below 5% of total revenue or AED 5 million, whichever is lower. Fail any condition at any point in a tax period and the 0% is lost for that period and the four that follow. A RAK ICC offshore company, a free zone company and a mainland company are three different things, and only the second has a route to 0%.
Hong Kong taxes profits arising in or derived from Hong Kong at 8.25% up to HK$2 million and 16.5% above, and states that no tax is levied on profits arising abroad. Every company is audited every year.
Singapore charges 17% with a start-up exemption, and requires at least one director ordinarily resident in Singapore. For a non-resident buyer that requirement, not the S$315 government fee, is the cost.
Cyprus raised corporate income tax to 15% from 1 January 2026. It also abolished the €350 annual company levy from 2024, which most published comparisons still charge you for.
Is Cyprus an offshore jurisdiction? Not in the classic sense. It is an EU member state with a real tax rate, full CRS and DAC participation, and a treaty network. It is on this page because buyers look for it here.
Malta has a 35% headline rate with a shareholder refund of six sevenths on distribution. Read that carefully: the company pays the full 35% first, the shareholder claims the refund afterwards, and the outcome depends on the shareholder’s own position. It is a cash-flow cost, not a 5% tax rate.
Gibraltar is 15% since 1 July 2024, and it is the transparency outlier of this group: its register of beneficial owners is public and free for anyone to search. If confidentiality from other private parties matters to you, Gibraltar is the wrong choice on this page.
The Isle of Man has a 0% standard corporate rate, and the highest recurring registry fee here at £380 a year. A 2006 Act company must retain a licensed Isle of Man registered agent for its entire life.
Onshore-offshore and everywhere else
These are fully onshore, fully taxed jurisdictions that give non-residents a usable entity. They are on this list because non-residents use them, not because they are tax-neutral.
Wyoming and Delaware. A US LLC is cheap to form and simple to run, and it carries a filing obligation most sellers leave out. A US LLC wholly owned by a foreign person must file Form 5472 with a pro forma Form 1120 every year, even with no income and no activity. The penalty for not filing is US$25,000, and it repeats every 30 days once the IRS has given notice. Whether the LLC owes US tax depends on whether it has effectively connected income, which is a facts question, not a property of the state you chose.
Ireland. 12.5% on trading income and 25% on non-trading income. If you are holding assets rather than trading, the rate that applies to you is the higher one.
Estonia taxes distributions, not profits: retained profit is untaxed and distributions are taxed at 22/78. Two things changed in February 2023 that most pages still get wrong: the €2,500 minimum share capital is gone, and so is the option to defer paying it. Shares must now be paid in full before the registration application is filed.
Panama. The Sociedad Anónima and the Private Interest Foundation. Panama is on Annex I of the EU list of non-cooperative jurisdictions as at 17 February 2026, in the Council’s words because it “has a harmful foreign-source income exemption regime and has not resolved this issue yet”. Panama passed an economic substance law on 27 May 2026 taking effect in fiscal 2027, aimed at that criterion, and has committed to a Global Forum review. Both halves are true and you should weigh both.
Everywhere else. The Bahamas, Marshall Islands, Mauritius, St Vincent, Samoa, Labuan, Anguilla, Turks and Caicos and Vanuatu appear in the remaining offshore jurisdictions round-up. Anguilla, Turks and Caicos and Vanuatu are on EU Annex I.
FATF grey list and EU list status, jurisdiction by jurisdiction
Two bodies publish lists that affect offshore companies. The FATF grey-lists jurisdictions with anti-money-laundering deficiencies that have committed to fixing them. The EU lists jurisdictions it considers non-cooperative on tax. Being on either is not illegality; it means slower banking and more questions.
The FATF is explicit on this point: it “does not call for the application of enhanced due diligence measures to be applied to these jurisdictions”. In practice, banks apply more anyway. Expect a longer account opening and more documents.
Jurisdictions we cover that appear on a list
| Jurisdiction | List | Since | What the body says | Source |
|---|---|---|---|---|
| British Virgin Islands | FATF increased monitoring (grey list) | June 2025 | Committed to an action plan on supervision of trust and company service providers, beneficial ownership, and money-laundering investigations | Primary source |
| Panama | EU Annex I | 17 February 2026 | Has a harmful foreign-source income exemption regime and has not resolved this issue yet | Primary source |
| Anguilla | EU Annex I | Listed | In the remaining-jurisdictions round-up | Primary source |
| Turks and Caicos Islands | EU Annex I | 17 February 2026 | Added at the February 2026 revision | Primary source |
| Vanuatu | EU Annex I | Listed | In the remaining-jurisdictions round-up | Primary source |
Clear on both lists, as at : Cayman Islands, Seychelles, Belize, Nevis, the UAE, Hong Kong, Singapore, Cyprus, Malta, Gibraltar, the Isle of Man, Ireland, Estonia and the United States.
How often this changes
The FATF reviews at each plenary, three times a year. The EU Council revises twice a year, and the next revision is due in October 2026. We re-check both against the source documents and date the table.
If you are remitting from India, read this section before you choose. The Reserve Bank’s Liberalised Remittance Scheme prohibits remittances to “jurisdictions identified by the FATF as non-cooperative”. That is the Reserve Bank’s own wording, and it is not the same list as the grey list above: the FATF publishes increased monitoring separately from its call-for-action list. Check the current position with your authorised dealer bank before remitting.
What every jurisdiction requires, whichever you choose
Five obligations survive every choice in the table above.
A registered agent and a registered office. Mandatory everywhere on this page. In Panama the agent must be a Panamanian lawyer. In the Cook Islands it must be a licensed trustee company. On the Isle of Man, a 2006 Act company must keep one for its entire life. This is a recurring cost, not a one-off.
Identity checks on the beneficial owner. Your agent collects and holds them before anything is filed.
Accounting records. Five years in the BVI, Belize, Nevis and the UAE; seven in the Seychelles. If records are held outside the jurisdiction, several registries require them to be delivered or copied to the agent on a schedule: annually by 30 April in Panama, twice a year in the Seychelles, quarterly in Belize.
An annual return and a renewal fee. The deadlines are not alike and the differences catch people out. The BVI runs on a half-year cycle, 31 May or 30 November depending on when you incorporated. Belize is a fixed 30 June. Cayman is January, with penalties from 1 April. Nevis and Seychelles run from your own anniversary date, so every client has a different one.
Economic substance, where the activity is in scope. The BVI, Cayman and the UAE all require a substance filing for entities carrying on a relevant activity. In Cayman the notification is due by 31 March and blocks the annual return until it is filed.
And one more thing worth stating plainly, because the industry usually does not. Every jurisdiction in the table above has a register of beneficial owners. What differs is who can see it. Gibraltar’s is public and free to anyone. Cayman’s opened to public applicants passing a legitimate-interest test in February 2025. Malta and Ireland restrict access to those with a legitimate interest or to designated professionals. Cyprus suspended public access after a Court of Justice ruling, leaving authorities and regulated firms. The BVI, Seychelles, Belize, Nevis, the UAE, the Isle of Man and Panama restrict it to competent authorities and law enforcement.
A company whose beneficial owner is not on a public register is not a company whose owner is unknown. Regulators, banks and tax authorities can see it, and under the Common Reporting Standard your account information reaches your home tax authority automatically. None of that makes the structure improper: on whether an offshore company is legal, the short answer is that owning one is legal nearly everywhere and concealing it is not.
What this means for you, by market
The jurisdiction sets the company’s obligations. Where you live sets yours, and the second list is usually the longer one. Each block below states the position under that country’s own tax authority as at , with the authority linked. Thresholds and deadlines change; check the linked source before you rely on one.
If you are a US person
IRS and FinCEN
You report foreign accounts on FinCEN Form 114, the FBAR, once their combined balance passes US$10,000 at any point in the year. You may also file Form 8938 with your return, at thresholds starting at US$50,000 for an unmarried filer living in the US and US$200,000 living abroad. You file Form 5471 for a foreign corporation you control or hold 10% or more of. A foreign-owned US LLC files Form 5472 with a pro forma Form 1120. A foreign trust brings Forms 3520 and 3520-A.
And if the company is a controlled foreign corporation, your share of its net CFC tested income, called GILTI before 1 January 2026, is taxed to you in the year it is earned whether or not the company pays you anything.
If you are UK resident
HMRC
Foreign income and gains go on your Self Assessment return, and if you are not already registered you must tell HMRC by 5 October after the tax year. If a UK company controls the offshore company, the controlled foreign company rules in Part 9A TIOPA 2010 can attribute its profits back to a UK corporate shareholder holding 25% or more.
If you moved assets into an offshore structure as an individual, the transfer of assets abroad rules in sections 714 to 751 of the Income Tax Act 2007 can tax that structure’s income on you, and since 6 April 2025 that applies as the income arises rather than when you bring it in.
If you are resident in India
Reserve Bank of India, FEMA
You fund an overseas company out of your Liberalised Remittance Scheme allowance of USD 250,000 per financial year, and the investment is Overseas Direct Investment under Schedule III of the Overseas Investment Rules 2022.
You may hold a wholly-owned foreign entity, contrary to what is widely repeated, but not one in financial services outside an IFSC, and you may not take control of a foreign entity that has or later creates a subsidiary. You report through your authorised dealer bank when you remit, and you file an Annual Performance Report for each foreign entity by 31 December every year, certified by a chartered accountant where no statutory audit applies. Remittances to jurisdictions the FATF has identified as non-cooperative are not permitted under the scheme.
If you are in the UAE
Federal Tax Authority
Corporate tax is 0% up to AED 375,000 and 9% above, for financial years beginning on or after 1 June 2023. Small Business Relief treats a resident business with revenue of AED 3 million or less as having no taxable income, but it is not open to free zone companies and it applies only to tax periods ending on or before 31 December 2026. A free zone company reaches 0% only by meeting every qualifying condition.
Sixteen of the eighteen jurisdictions on this page are signatories to the OECD Common Reporting Standard, so account information is reported automatically to where you are resident. The exception is the United States, which is not a CRS participant and exchanges under its own FATCA agreements instead.
How to choose, and where to go next
Four questions narrow this table faster than any ranking.
What is the company actually for? Holding shares, invoicing clients, owning property and protecting assets point at different jurisdictions. A Cook Islands trust and a Wyoming LLC are not alternatives.
Where are you tax resident? This decides your reporting, and often it decides more than the jurisdiction does. The US, UK and Indian rules above apply whichever row you pick.
Do you need a bank account in the same place? Some jurisdictions make local banking straightforward and others do not. A grey-listed jurisdiction will take longer.
How much reputational friction can you absorb? A counterparty, a bank or an acquirer may have a view about where your company is registered. Mid-shore costs more tax and buys fewer questions.
We do not pick a winner on this page. If you want a ranked view, compare the best offshore jurisdictions, or read which is the easiest country to open an offshore company. If you want us to file it, that is our offshore company formation service. If you want the full cost including our fee, see the offshore company price list. If you would rather describe your situation and have us shortlist two or three, book a free consultation.
Offshore jurisdictions FAQ
How many offshore jurisdictions are there?
There is no official count, because offshore jurisdiction is not a legal term. What is countable is what appears on official lists: 22 jurisdictions are under FATF increased monitoring as at 19 June 2026, and 10 are on EU Annex I as at 17 February 2026. We compare 18 in the table above, plus a round-up of smaller ones.
Is there such a thing as a tax-haven jurisdiction?
The term has no legal definition and no government or inter-governmental body maintains a list under that name. What does exist, and what you can check, is the corporate tax rate, the treaty network, FATF standing and EU list standing. All four are in the table above.
Which offshore jurisdictions exchange information with my tax authority?
Effectively all of them. Sixteen of the eighteen here are signatories to the OECD Common Reporting Standard, which reports account information automatically to your country of residence. The United States is not a CRS participant and exchanges under FATCA instead. The practical question is not what the jurisdiction discloses; it is what you must report where you live.
What is the difference between an onshore and an offshore company?
An onshore company is incorporated and taxed where you operate. An offshore company is incorporated where you are not resident and usually do not trade. The difference is tax residence and substance, not legality.
Is Cyprus an offshore jurisdiction?
Not in the classic sense. Cyprus is an EU member state with a 15% corporate income tax from 2026, full CRS and DAC participation and a treaty network. It appears on lists like this because buyers search for it that way. It belongs in the mid-shore group.
Does being on the FATF grey list make a jurisdiction illegal to use?
No. It means the jurisdiction has committed to fixing identified deficiencies and is under increased monitoring while it does. The FATF explicitly does not call for enhanced due diligence on grey-listed jurisdictions. The practical effect is longer bank onboarding and more questions, not illegality. One exception worth knowing: India's Liberalised Remittance Scheme does not permit remittances to jurisdictions the Reserve Bank describes as identified by the FATF as non-cooperative.
Can I move my company from one offshore jurisdiction to another?
Often yes, through redomiciliation. Both jurisdictions must permit it. The company keeps its legal identity and does not dissolve, so contracts and bank accounts generally survive.
Not sure which of these fits your situation?
Tell us where you are tax resident and what the company is for. We will shortlist two or three jurisdictions and explain what each one will actually cost and require.