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Portcullis TrustNet Comparative Table

Jurisdictions                                         
BVI Cayman Islands Cook Islands Hong Kong Labuan Malaysia Mauritius Samoa Seychelles Singapore
GBL1 (Offshore)

GBL2 (IBC)

 IBC CSL
Features
Tax Payable    
No No No At source only 3% or USD6,050 Yes 15%+ No No No 1.5% Yes
Chinese Names Permitted
 Yes Yes Yes Yes No No No Yes Yes Yes Yes No
Name Check (No. of days)
 1 1-2 1 1 1 3-5 3-4 3-4 1 1 2 2
Incorporation (No. of days)
 1 5-7 1 5-7 1-3 8-10 14 3-5 1 2 28 2
Availability of Shelf Cos.
 Yes No No Yes No Yes No No Yes Yes No No
Shelf Co. Activation (No. of days)
 1 - 1 3-5 - 1 - - 1 1 - -
Double Tax Treaty Access
 No No No Yes Yes Yes Yes No No No Yes Yes
Capital & Shareholders
Std Authorised Capital
 - USD50,000 USD1,000 HKD10,000 - MYR100,000 USD1,000,000 - USD1,000,000 USD1,000,000 - -
Min. No. of Shareholder(s)
 1 1 1 1 1 2 1 1 1 1 2 1
Govt Register of Shareholder(s)
 No No   No Yes  Yes Yes Yes  Yes  No No Yes Yes
Annual Meetings Required
 No Yes   No  Yes  Yes Yes Yes   No  No No Yes  Yes
Bearer Share(s) Permitted
 Yes Yes  Yes  No  No  No No   No  Yes Yes No No
Officers
Min. No. of Director(s)
  1  1  1  1  1 2  2  1  1 1   2  1
Corp. Director(s) Permitted
 Yes  Yes   Yes  Yes  Yes  No  No  Yes  Yes  Yes  No  No
Local Director Required
 No No   No  No  No  Yes  Yes  No  No  No  No  Yes
Local Meetings Required
 No No  No  No  No
(e)		  Yes  Yes  No  No  No  No  Yes
Company Secretary Required
 No No  Yes  Yes  Yes  Yes  Yes  No  Yes  No  Yes  Yes
Other Requirements
Registered Agent/Registered Office
 Yes  Yes  Yes  Yes  Yes  Yes Yes  Yes  Yes Yes Yes  Yes
Annual Returns
 No   Yes  Yes  Yes  Yes  Yes No  No  No No Yes  Yes
Audited Accounts
 No   No  No  Yes  Optional  Yes Yes  No  No No Yes  Yes (with exceptions
Portcullis TrustNet Charge
Incorporation
 USD750 USD2,132 (a) USD700 USD1,800 (b) USD2,350

USD1,628
(d) (f)

 USD6,385
(c)		  USD2,215  USD700  USD700

USD6,570
(c)

USD2,868
(d) (g)

Annually from Second Year
 USD650 USD1,507 USD600 USD770
(b)		 USD1,900

USD660
(d) (f)

 USD4,550
(c)		  USD1,200  USD600  USD600 USD3,785
(c)

USD1,398
(d) (g)

Jurisdictions                                         
BVI Cayman Islands Cook Islands Hong Kong Labuan Malaysia Mauritius Samoa Seychelles Singapore
GBL1 (Offshore)

GBL2 (IBC)

 IBC CSL
Features
Tax Payable    
No No No At source only 3% or USD6,050 Yes 15%+ No No No 1.5% Yes
Chinese Names Permitted
 Yes Yes Yes Yes No No No Yes Yes Yes Yes No
Name Check (No. of days)
 1 1-2 1 1 1 3-5 3-4 3-4 1 1 2 2
Incorporation (No. of days)
 1 5-7 1 5-7 1-3 8-10 14 3-5 1 2 28 2
Availability of Shelf Cos.
 Yes No No Yes No Yes No No Yes Yes No No
Shelf Co. Activation (No. of days)
 1 - 1 3-5 - 1 - - 1 1 - -
Double Tax Treaty Access
 No No No Yes Yes Yes Yes No No No Yes Yes
Capital & Shareholders
Std Authorised Capital
 - USD50,000 USD1,000 HKD10,000 - MYR100,000 USD1,000,000 - USD1,000,000 USD1,000,000 - -
Min. No. of Shareholder(s)
 1 1 1 1 1 2 1 1 1 1 2 1
Govt Register of Shareholder(s)
 No No   No Yes  Yes Yes Yes  Yes  No No Yes Yes
Annual Meetings Required
 No Yes   No  Yes  Yes Yes Yes   No  No No Yes  Yes
Bearer Share(s) Permitted
 Yes Yes  Yes  No  No  No No   No  Yes Yes No No
Officers
Min. No. of Director(s)
  1  1  1  1  1 2  2  1  1 1   2  1
Corp. Director(s) Permitted
 Yes  Yes   Yes  Yes  Yes  No  No  Yes  Yes  Yes  No  No
Local Director Required
 No No   No  No  No  Yes  Yes  No  No  No  No  Yes
Local Meetings Required
 No No  No  No  No
(e)		  Yes  Yes  No  No  No  No  Yes
Company Secretary Required
 No No  Yes  Yes  Yes  Yes  Yes  No  Yes  No  Yes  Yes
Other Requirements
Registered Agent/Registered Office
 Yes  Yes  Yes  Yes  Yes  Yes Yes  Yes  Yes Yes Yes  Yes
Annual Returns
 No   Yes  Yes  Yes  Yes  Yes No  No  No No Yes  Yes
Audited Accounts
 No   No  No  Yes  Optional  Yes Yes  No  No No Yes  Yes (with exceptions
Portcullis TrustNet Charge
Incorporation
 USD750 USD2,132 (a) USD700 USD1,800 (b) USD2,350

USD1,628
(d) (f)

 USD6,385
(c)		  USD2,215  USD700  USD700

USD6,570
(c)

USD2,868
(d) (g)

Annually from Second Year
 USD650 USD1,507 USD600 USD770
(b)		 USD1,900

USD660
(d) (f)

 USD4,550
(c)		  USD1,200  USD600  USD600 USD3,785
(c)

USD1,398
(d) (g)

(a) Without tax exemption certificate (USD1,830)
(b) Excludes Business Registration fee
(c) Includes 2 resident directors but excluding operating costs
(d) Includes fees for registered office, company secretary
(e) Unless confirmation of tax residency is required
(f) Excl. ST.
(g) Excl. GST.

PLEASE NOTE: The above does not purport to be comprehensive or provide legal advice. No person should act in reliance upon any information contained in this Comparative Table without first obtaining legal advice. Fees are indicative and subject to change.

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