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Company Comparison Chart

20 April 2016

BVI

CAYMAN

GUERNSEY

JERSEY

GENERAL

Time zone

GMT -4

GMT -5

GMT

GMT

Main type of company

BVI business company

Exempted

Limited

Limited (private / public)

Other types of company (1)

PSC, LBG, Unltd

SPC, LBG, Unltd, LtdL

PCC, ICC, LBG, Unltd

PCC, ICC, LBG, Unltd, LtdL

Fastest incorporation time

24 hours

24 hours

15 minutes

4 hours

Minimum incorporation fees

USD350

USD732

GBP100

GBP200

SHAREHOLDERS AND SHARES

Minimum shareholders

One

One (Two for a limited duration Cayman company)

One

One (private) or Two (public)

Treasury / Bearer shares

Permitted / Permitted (2)

Permitted / Permitted (2)

Permitted / Not Permitted

Permitted / Not Permitted

Pre-emption rights

None required by law, but may be included in the company's Articles

DIRECTORS AND SECRETARY

Minimum directors

One

One

One

One (private) or Two (public)

Corporate directors

Permitted

Permitted

Permitted

Permitted (3)

Director indemnity available

Must act honestly, in good faith and in best interests of company

Excludes negligence, default, breach of duty of breach of trust

Excludes negligence, default, breach of duty of breach of trust

Includes when acting in good faith and in best interest of company

Company secretary

Not required

Not required

Not required

Not required (can be a company)

LOCAL REQUIREMENTS

shareholder, director or secretary

No

No

No

No

Registered office

Yes

Yes

Yes

Yes

PUBLICLY AVAILABLE INFORMATION

Shareholders or beneficial owners

No

No

No

No (4)

Directors

No

No

No

No (4)

FILINGS AND FEES

Annual return

No

Yes

Yes

Yes

Minimum annual government fees

USD350

USD732

GBP500

GPB150

Audited accounts

No

No (5)

No (5)

No (5)

REORGANISATIONS AND DISTRIBUTIONS

Statutory Mergers / Conversions / Migrations

Yes

Yes

Yes

Yes

Distributions (solvency test)

If able to pay debts and assets exceed liabilities

If able to pay debts in the ordinary course of business

If able to pay debts and assets exceed liabilities

If able to pay liabilities and continue to do so for further 12 monts

TAXES

Corporation tax, stamp duty or VAT

None

None

None

None

(1) SPC: Segregated Portfolio Company, PCC: Protected Cell Company, ICC: Incorporated Cell Company, LBG: Limited by Guarantee, Unltd: Unlimited Liability, LtdL: Limited Life Company.

(2) Must be deposited with an approved custodian.

(3) Only where corporate director is permitted to act as such under the Financial Services (Jersey) Law 1998 and it has no director that is a body corporate.

(4) Annual return must state (i) directors and (ii) each shareholder holding 1%+ of shares as at 1 January. The annual return is publicly available.

(5) Required for certain companies.

 

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