What are the costs of opening an offshore company? Jurisdiction Comparison 2023

The costs of opening an offshore company can vary greatly depending on the jurisdiction chosen, the complexity of the company structure, and the professional services hired. Some of the major costs involved in opening an offshore company include:

1. Registration fees: most jurisdictions charge a registration fee for setting up an offshore company. These fees can range from a few hundred to several thousand dollars, depending on the jurisdiction chosen.

2. Professional services: Many companies choose to hire professional services to assist in opening the offshore company, such as lawyers, accountants, and registrars. The costs of these services can vary depending on the service provider, the complexity of the company's structure, and the scope of the services contracted.

3. Office rental: In some jurisdictions, a local business address is required to register the offshore company. This may require renting an office or using a business address service. The costs of these services can vary depending on the location and quality of the office space.

4. Bank account: Opening a bank account in the name of the offshore company may involve opening and maintenance fees, as well as transaction fees and other fees associated with banking services.

5. Annual maintenance costs: maintaining an offshore company may involve annual maintenance costs such as registration renewal fees, registered agent fees, and accounting and tax costs.

Below is a comparison of costs for opening offshore within the year 2023 in the major known jurisdictions:

It is important to point out that there are a number of other peculiarities to be observed, such as the corporate form adopted, the need to appoint a minimum number of directors, time for the company's incorporation, among others.

Consult a lawyer you trust to better understand the subject.