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Dragon Registrars

The TMS Group:

TaiPan International - Structuring, Tax & Banking Services Pevex Offshore - IBC with bank account package FormaRAK - RAK (Ras Al Khaimah) Company Formation - UAE Dragon Registrars - Low-Tax Company Formation Pevex Services - Business Support Services Pevex Accounting - Bookkeeping, Accounting and Payroll Services VO Services - Virtual Offices in Asia & Europe
Cyprus Company Formation Hong Kong Company Formation Singapore Company Formation Other Jurisdictions Banking Introductions Fees and Costs FAQ - Hong Kong + Singapore company formation
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Hong Kong

HONG KONG COMPANIES

Fast & efficient formation of Hong Kong companies.

  • Territorial taxation - profit earned outside Hong Kong is not chargeable to profits tax.
  • Low (16.5%) maximum rate of profits tax.
  • Zero withholding taxes on dividends.
  • Low (4.95%) withholding taxes for royalties etc.
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DRAGON REGISTRARS FOCUSES ON
COMPANY FORMATION IN LOW TAX AREAS.


Dragon Registrars specialises in company formation in just four jurisdictions, each with its own advantages. These are Hong Kong, Singapore, Cyprus and Ireland.

 

We offer fast and efficient company formation services as well as complete assistance with running your company e.g. bookkeeping, accounting, VAT where applicable, bank accounts and the filing of all the necessary returns etc.



Are you a professional advisor looking to set up a company for your client?

Visit Tai Pan International

FAQs

Some common questions asked:

A brief explanation of the expression ‘Low-Tax’


In its most general sense low-tax can be taken to mean less tax than somewhere else. For example, someone with a company in France might consider a rate of less than 30% to be low-tax, whereas someone with a business in Poland (tax rate 18%) would certainly not. In other words the expression ‘low-tax’ is subjective.


Our definition of ‘low-tax’


Bearing in mind our opening comments, we have taken the slightly arbitrary  figure of 17% as being a low-tax rate. Why? Very few jurisdictions have a maximum corporate tax rate of less than 17% and the average would seem to be in a range of 25 to 35% and 17% is roughly  two thirds of that lower figure and half of the higher figure.







Our selection of low-tax jurisdictions


We did not only consider low tax rates, but also ease of doing business, language, and a number of other factors. After thorough evaluation we have selected just four jurisdictions which each have obvious and easily put-into-place advantages. These are:













Hong Kong

Sometimes referred to as the last bastion of laissez-faire capitalism, Hong Kong has long believed in low corporate (and personal) taxation. Companies are easy and fast to form and are not subject to petty restrictions. The maximum tax rate is 16.5% BUT this can be reduced to Zero where all parties to a transaction are outside Hong Kong. This is known as territorial taxation.  


Please see our Hong Kong page for more detailed information.












Singapore

Almost corruption free, Singapore consistently ranks at or near the top of the World Bank’s ‘Ease of Doing Business’ index. Company incorporation is online and therefore very fast. The maximum tax rate is 17%, but this is the maximum. In the first three years of existence  resident companies are entitled to a Zero rate of tax on the first S$ 100,000 of profit. All companies are entitled to various exemptions on the first S$ 300,000 of profit bringing the effective rate of tax down to 8.5%.


Please see our Singapore page for more detailed information.










Cyprus

Although the reputation of Cyprus was adversely affected in 2013 by its Euro ‘bail out’ it has since substantially recovered. In any event the crises primarily affected the banking sector and had no effect whatsoever on its corporate sector. Cyprus resident companies are subject to corporation tax at a flat rate of 12.5%. It should however be noted that salaries and consultancy fees paid to non-residents of Cyprus are not subject to any kind of withholding tax and therefore represent a convenient way to reduce taxable profit.


Another option is the Cyprus non-resident company, which, as the name suggests is managed and controlled from outside Cyprus. This variant cannot register for VAT either in Cyprus or in the EU. However, it can be entirely tax free.


Please contact us for further information.









Ireland

Like Cyprus, Ireland also had to be bailed out due to an implosion of its banking sector from 2010, but has since largely recovered. Throughout the period the Irish government were insistent on maintaining Ireland’s attractiveness by having a low corporate tax rate of 12.5% (the same since 2003). Ireland has long sought inward investment and has considered a low corporate tax rate as a major part of that strategy.


Another attractive element of the Irish ‘package’ is that companies are free of audit if their turnover is less than €8.8m and the balance sheet (assets) is less than €4.4m.


Please contact us for further information.







Other services.



Company formation


Apart from the four low-tax jurisdictions we offer, we are also able to assist in the formation of classic IBCs (International Business Companies) in a range of jurisdictions including Anguilla, Belize, BVI, Dominica, Marshal Isles, Mauritius, Seychelles and St Lucia.


We also have three other options which neither fall into the categories of low-tax nor IBCs. They are:




1. Guatemala - a Central American country, which offers full territorial taxation i.e. earnings from outside Guatemala are not taxed. Please contact us for more information.




2. RAK - UAE. Ras Al Khaimah although tax free is not considered a tax haven. TMS FZE (a part of the TMS Group, as is Dragon) is a Licensed Corporate  Service provider in RAK and further information can be obtained directly from TMS’s site - formarak.com


Ancillary services


We and other members of the TMS Group also offer a range of business services including:


Banking Services:- we (TMS Group) are introducers to a number of banks to which we can introduce clients. Please visit our Banking page for more information.

Virtual offices:- we are able to offer virtual office services in a number of countries including London, Switzerland, Singapore, Malaysia and Hong Kong together with telephone numbers in each of those locations.

Re-domiciliation:-There can be circumstances where you may need to move your company from one jurisdiction to another. This could be because of tax changes, changes in regulations or simply costs. We can arrange re-domiciliation to and from a large number of jurisdictions.

Book-keeping, accounting & audit services:- We offer a full bookkeeping and accounting service and also introduce clients to reputable auditors where required.

Contact us Hong Kong Form a Hong Kong company Form a Singapore company Form a Cyprus company Form an Irish company

3. Gibraltar. Business transacted wholly outside Gibraltar is not subject to tax. Gibraltar non-resident companies are therefore fully tax free.


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 Summary of our Fees & Costs
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