Offshore
Offshore company formation
BVI, Cayman, Seychelles: zero tax, fast formation, privacy. But since 2019 there are substance rules and bank questions.
At a glance
Corporate tax
0% in all three jurisdictions
Formation
1 to 5 working days
Substance rules
In the BVI and Cayman since 2019
Information exchange
CRS and FATCA apply
An offshore company is a structure that does not trade in the country where it is formed, pays no tax there and is usually administered through a registered agent. Holding, funds, IP ownership and international trade remain legitimate, widespread uses; the place of the BVI and Cayman in the fund world is beyond dispute.
What has changed: economic substance rules, beneficial ownership registers, CRS information exchange and tightening bank KYC. Today an offshore company works if its purpose can be documented; a structure built to stay hidden creates problems with banks and under Turkish controlled foreign company rules alike. We build the structure to pass both tests.
Why here
When this jurisdiction is the right choice.
- Zero tax in holding and fund structures, no withholding on distributions.
- Fast, remote formation; low annual cost.
- Director and shareholder details are not public.
- Standard jurisdictions investors recognise for funds and joint ventures.
Entity types
Which structure, for whom.
BVI Business Company
The world's most widely used offshore company; the standard for funds, holdings and JVs.
Cayman Exempted Company
The prestige option for funds and larger structures; a 20-year tax undertaking.
Seychelles IBC
The lowest-cost option; for trading and small holdings.
Process
Formation step by step.
- 01Purpose and structure design: holding, trading or fund
- 02Jurisdiction choice: BVI, Cayman or Seychelles
- 03Registered agent appointment
- 04KYC documents: passport, address, source of funds
- 05Incorporation and registry documents
- 06Bank account: the hardest step, planned in advance
- 07Substance and beneficial ownership filings
- 08The Turkish side: controlled foreign company and notification duties
After formation
What has to happen every year.
- Annual registry and agent fees
- Economic substance filing (for relevant activities)
- Accounting records kept and produced on request
- Beneficial ownership information kept current
Sub-zones
The options inside this jurisdiction.
Set Up a BVI Company
The world's most widely used offshore company: zero tax, formation in 48 hours, the common language of funds and holdings.
Open pageSet up a Cayman Islands company
The jurisdiction of funds and larger structures: zero tax, a 20-year tax undertaking, CIMA regulation.
Open pageSet Up a Seychelles Company
The lowest-cost offshore: an IBC in a day or two, zero tax on foreign income. For trading and small holdings.
Open pageFrequently asked
The in-country registry, licence and agent steps of the formation file run through our licensed formation partners in the relevant jurisdiction. Structure design, contracts, the bank file and the tax and notification effect on the Turkish side are managed by Defensible. Rates and thresholds summarise the headline rules at the time of writing; we check the current text together on your own file.
Does an offshore company trigger tax in Türkiye?
If the controlled foreign company tests are met, yes: undistributed profit can be taxed in Türkiye. That is why the Turkish side is calculated before the structure is formed; fixing it afterwards is expensive.
Let's work out which structure fits you in 15 minutes.
Tell us where you sell, who you are and what you are aiming at; we will say in the call which jurisdiction and entity type make sense. Formation itself is a separate engagement, scoped and priced there.
Book a 15-minute call