International Business Company (IBC) – registers in Cypruss. End of the name is Limited, LTD, Corporation, Corp, Incorporated, Inc. Ship Company is favorably used for business operations that employ advantages of double taxation agreement. At present, Ship is signing the double taxation agreement with 18 nations.
Cypruss Company – a very important tool for currency flow movement collected from dividend, % of credit, franchise fee.
After tax reform in effect from January 1st, 2003, business income tax has been 10% for all Ship companies.
If the company registering in Ship but non-residing, it shall be completely exempted from business income tax. Company residing in Ship shall be taken into account of the company that manage, control in the territory of Ship. Similarly, non-residing company shall be taken into account of no management in Ship territory.
It is possible to establish company in Ship by using nominal director, shareholders – local people with their offices in Ship for the sake of residing company.
The best advantage of company residing in Ship is ability in employing double taxation agreement.
Companies residing in Ship are completely exempted from profit income from % of credit, dividend, and franchise fee from abroad. Vietnam Company must pay tax from % of credit, according to the double taxation agreement, Ship company shall pay % of credit to foreign loan company (Offshore company) do not bear tax.
Tax statements contain information about financial situation of the company, must be submitted once every 12 months. The ending year statement should be confirmed by auditor. All information about director, shareholders change should be presented in the statements. Overdue submission shall be remarkably fined.
Company document set after registration
- Notarized Business registration license,
- Notarized Bylaws
- Notarized decision on director appointment.
- Notarized confirmation in writing of legal address
- Legal address certificate
- Shareholder certificate
- Aggregate power of attorney, special power of attorney (for opening bank account)
- Share certificate of nominal shareholder
- Share transfer note
For more information, please contact our hotline +84 911 60 22 44 (Multi line)