Other Jurisdictions

Clients sometime ask which is the best jurisdiction in which to incorporate. There can be no standard reply as the answer really depends upon the intended use of the entity to be set-up and upon each client’s personal and business circumstances. The same goes for groups intending to define their structure or establish their holding companies.

There are a number of factors which need be considered. The first is the tax regime of the intended jurisdiction and just as important is the political and economic stability. The jurisdiction chosen should not be subject to violent political swings or governed by an undemocratic regime. Other factors include the quality of communications, language, legal system, confidentiality, exchange controls and banking facilities. Attention should also be given to restrictions which the country might impose upon certain types of business. Another obvious factor is cost: What are the registration fees and flat rate taxes? How about the continuing domiciliary, management and statutory compliance requirements?

Of particular importance is to remind clients that the tax and other benefits which will be reaped will depend not only upon the tax and other legislation of the country of residence and domicile but also any anti-avoidance legislation of any country in which the client intends to do business.

To ensure that the correct strategy is followed from the start we, at Oneworld, take a broad review of a client’s international activities. This will include business plans, perceived development, countries of operation, current tax situation and personal dimensions such as residence or estate planning.

Our initial recommendations always contain advice on a long-term strategy to be followed to achieve the desired objectives. This strategy will recommend the right corporate structures, personal profiles and any necessary financial and contractual arrangements.

In preparing our work for our clients we do not work in a vacuum. We cooperate fully with our clients' existing professional advisors as necessary. We regard ourselves as part of a professional team working on behalf of a mutual client.

In addition, we have in place a carefully selected network of associates covering some forty or so key jurisdictions. Our international associates are in a position to advise our clients on strategy and thus supplement and complement our work. They ensure that the recommended actions of our clients are properly implemented.

Such implementation is provided through a full range of corporate and business services including: company registrations; drafting of trust deeds; preparation of legal agreements; obtaining requisite tax rulings and clearances; corporate administration; financial accounting including maintaining bank accounts letters of credit; executing sales and purchase orders; dealing with all accounting and tax compliance functions; full asset and trust management services.

Our network of international associates covers the countries listed herebelow