Black lists in the world

International black lists

Have you ever considered, if the country where you want to set up a company is in any of black lists? Most businessmen don’t really think about it. Nowadays more and more people want not only to incorporate an offshore company, but also enjoy the benefits from investing money such as low tax rate on profit. What international black lists are common today? We will describe below.

  • OECD or Organization for Economic Co-operation and Development black list. There are 30 country participating in OECD. This black list includes such countries as Andorra, Monaco, Liechtenstein and Marshall Islands.
  • FATF or the Financial Action Task Force black list where more than 30 countries are participating, including Russia. This black list mentions such countries as Myanmar, Nigeria and Nauru.

As you can see such jurisdiction as Ras al Khaimah is not in any of these black lists. Moreover, in 2014 RAK received a title of “The best free zone in the Middle East”.

Russian black lists

In Russia offshore companies’ black list was introduced in 2002. According to Russian laws (CFC Rules) all companies registered in countries from this list are obliged to pay 20% tax on profit. Nowadays the black list includes the following countries: Hong Kong, Liechtenstein and the UAE. However, there are exceptions to CFC Rules, including countries between which agreement “About avoiding of double taxation” was signed. Such countries are Switzerland and Singapore. 

Other black lists 

Ukraine has implemented a black list in 2003 and included such jurisdictions as Panama, Marshall Islands, Belize, Andorra and others. In Belarus such list has been used since 2011, including Liechtenstein, Anguilla, Belize, Gibraltar, Macau, Montenegro and others. Such countries as Belize, the UAE, Hong Kong, San Marino, Kenya, Lebanon and Liechtenstein are included in the black list in Latvia.

To conclude, it is crucial to mention that Singapore and Switzerland are not included in any of these black lists due to agreements “About avoiding of double taxation” with many countries that makes them very prestigious to make business in.

Receiving resident visa for 3 years in UAE could become a great alternative for people all over the world. In that case you will have beneficial tax residence, since you will pay 0% tax on profit.

Do you want to set up company in Switzerland  or incorporate company in SingaporeOr you would rather choose applying for a resident visa in the UAE?

Swiss Financial Yard will be your reliable advisor on that matter! Contact us today to receive a free consultation.

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