BRIDGES Tips & FAQs for Start-ups

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When setting up an offshore company, the first thing you have to decide is the jurisdiction you would like to pick. It is important that your selected jurisdiction works well with your original goal and intended business structure.

According to our experience, Seychelles and BVI are two popular ones in the offshore jurisdiction list. Below is a comparison of various main categories:

Seychelles  BVI (British Virgin Islands)

Geographic Location & Population

Located in the South-Western Indian Ocean with a total land area of 455.3 square kilometres.

The population is about 85,000.

Located in the Caribbean Sea, east of Puerto Rico with a total land area of around 155 square kilometres.

The population is about 21,000.

Popularity

Seychelles is emerging as a valid alternative to better known jurisdiction such as BVI. Some people even think it exceeds BVI in some respects like reputation standing.

BVI is the most popular offshore jurisdiction for many years, and also well-known in the public. Over 800,000 companies were incorporated since 1984.

Taxation & Privacy

Same as most offshore firms, it is tax-free with high privacy protection. Unlike BVI, Seychelles has no economic ties with US, UK or EU and it hasn't signed any info sharing agreements with them.

If the business is operated offshore, it can get tax exemption. Also, it has minimum record-keeping and no reporting requirements, and comprehensive confidentiality features.

Authorised Share Capital

The capital structure of a Seychelles company can be very flexible. There is no maximum authorised share capital prescribed.

The normal authorised share capital is 50,000 shares as recommended. Above 50,000 shares will incur extra fees.

HK Bank Account Opening

The process of bank account opening can be facilitated for a Seychelles company.

More requirements, documentations and proofs are needed to open a bank account.

Other than Seychelles and BVI, professional incorporation team in BRIDGES can assist you to set up an offshore company at other popular jurisdictions, such as Samoa, Cayman Islands, Marshall Islands, and Singapore. The team will also assist you with opening a bank account, obtaining a business license, and handling other ongoing company administration and compliance.

Don't stress if you still haven't decided which jurisdiction works best for you. Contact us at info@bridges.hk and schedule an instant video consultation where you will get comprehensive advice. Get your offshore business plan started now.

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