By Kooshila Takoordyal, 22.04.2020
The Coronavirus or Covid-19 pandemic has made people everywhere re-assess how they do business. A good example is the seismic surge in videoconferencing use which now means the vast majority of people (85% according to a recent survey) will continue to use video solutions such as Zoom to facilitate meetings in the future.
For Entrepreneurs looking to register a company in these times, we have seen a trend more towards the jurisdictions that enable fast incorporations and easy company registration. Given the travel restrictions put in place by many countries, the ability to register remotely with a corporate bank account is highly sought after.
On this basis, we have summarised what we believe to be the top 5 best countries across the globe to register a company remotely during the Covid-19 crisis.
Norway is a dream destination for the Digital Nomad. A company can be incorporated remotely, plus the added advantage that a corporate bank account can be set up remotely as well. Therefore, travel to Norway is not required. Whilst Norway is not a European Union member, Norwegian companies have unrestricted access to the EU market through its membership of the European Economic Area (EEA). It is one of the wealthiest and most stable countries in the world, which is an important consideration when the fiscal cost of the pandemic is counted. Find out more about Registering a Company in Norway.
The Republic of Ireland is a full EU member state and quite simply, a great place to do business. Many of the world’s largest international tech companies are based in Ireland due to business-friendly policies and reduced red tape. An Irish company can be registered remotely and in many cases, a corporate bank account can be set up remotely as well. The Irish people are so welcoming that many European people have made Ireland their home resulting in a largely bilingual workforce. When you consider that corporate tax is just 12.5%, it is an attractive package overall. It’s important to note, however, that business on the ground and/or staff in Ireland is necessary for VAT registration and corporate tax residency. Find out more about Registering a Company in Ireland.
3. Isle of Man
The Isle of Man is a prime location to operate a company and enjoy 0% corporate tax. There are no withholding taxes and no taxes on trading or investment income. Only one director is required, and he/she does not need to be a resident in the Isle of Man. Remote incorporation is available, however, a bank account can be tricky to open remotely and must be controlled by a resident agent. Find out more about Registering a Company in The Isle of Man.
4.United Kingdom (UK)
The United Kingdom includes England, Wales, Scotland, and Northern Ireland. Even with Brexit and the United Kingdom’s imminent withdrawal from the European Union, this jurisdiction still ranks as one of the top ten economies in the world. Similarly, UK Companies House provides the most streamlined incorporation process within the European region with digital registrations in just 1-2 hours. A remote corporate bank account can be set up through one of the payment service providers. Find out more about Registering a Company in The United Kingdom.
Traditionally, the main industries in Belize constated of tourism, marine products, and sugar cane. Today Belize is recognised across the globe as one of the most tax-friendly jurisdictions offering asset protection via offshore banking, offshore accounts, and secure offshore Trusts. Registered Companies in Belize enjoy maximum privacy, international banking, and asset protection in a financially stable country that is welcoming to foreign investment. Belize companies can be incorporated in 1-2 days with remote corporate bank account setup, Belize ticks many boxes especially for internet businesses with global income, not least its 0% corporate tax rate. Find out more about Registering a Company in Belize.
We hope that you found this article on the best jurisdictions to register a company remotely during the Covid-19 Pandemic useful, and we hope that you are well in these strange times. Should you wish to incorporate in any of the suggested jurisdictions please Contact Us today and an experienced representative will be in touch by phone shortly.Contact US