Cayman Islands vs BVI vs Bermuda for IT business....

[troubled soul]

As UAE become a trick and too complicated to understand , New Tax Drama
Which is best country to register your IT business for tax free purpose...
What are the pros and cons of each ?
Can anybody shade some light on this ?


Thanks

 

[Marzio]

I don't think Cayman and BVI are the best locations for an IT business IF the IT business needs to hire developers and staff on the ground.

Depending on the IT business you have in mind there are a LOT of places with minimial CIT if you invest in research and development activities.

 

[troubled soul]

Depending on the IT business you have in mind there are a LOT of places with minimial CIT if you invest in research and development activities.

can you name few?

 

[Marzio]

Those are the ones with CIT < 9%

https://ipbox.cy/
But there are other places as well:
1. Belarus technology park: 1% CIT
2. Moldova IT Park: 7% CIT
3. Poland IP Box: 5% PIT
4. Georgia Virtual Zone: 0% CIT

 

[FDS ADS]

As UAE become a trick and too complicated to understand , New Tax Drama
Which is best country to register your IT business for tax free purpose...
What are the pros and cons of each ?
Can anybody shade some light on this ?


Thanks

If your business is not Crypto related then best option for you would be BVI, since it is cheap and recognized as one of the best.

 

[Meta]

Those are the ones with CIT < 9%

https://ipbox.cy/
But there are other places as well:
1. Belarus technology park: 1% CIT
2. Moldova IT Park: 7% CIT
3. Poland IP Box: 5% PIT
4. Georgia Virtual Zone: 0% CIT

Most of those countries like Belgium and Netherlands would be withholding taxes when paying dividends and those are quite high. Cyprus would not, I think (don't remember off the top of my head). 5% for Georgia.

 

[Marzio]

Belgium and Netherlands would be withholding taxes when paying dividends and those are quite high

If you really want to use those countries you can structure things in a way that those countries will pay dividends to a EU holding like Estonia to avoid withholding taxes.

 

[FDS ADS]

BVI is cheap and the best since there are no additional regulations for IT business. It is straightforward to open an EMI account, so I guess a maximum of $ 3,000 is enough to start a business remotely with 0% tax.

 

[Meta]

If you really want to use those countries you can structure things in a way that those countries will pay dividends to a EU holding like Estonia to avoid withholding taxes.

Would it be possible to finally get dividends out of Estonia without taxes?

BVI is cheap and the best since there are no additional regulations for IT business. It is straightforward to open an EMI account, so I guess a maximum of $ 3,000 is enough to start a business remotely with 0% tax.

Could you please name an EMI where it is straightforward to open an account for a BVI entity? Especially if UBO is not in a EU country but in some less known place (like Georgia).

 

[FDS ADS]

Would it be possible to finally get dividends out of Estonia without taxes?


Could you please name an EMI where it is straightforward to open an account for a BVI entity? Especially if UBO is not in a EU country but in some less known place (like Georgia).

You can try Payset and Statrys.