EUROPE
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ALBANIA
€2700
- Tax system
- » Personal income tax – % progressive basis
- » VAT rate – 20%
- » Foreign investors are exempt from taxes for the first five years.
- » Capital gains tax – corporate – 15%
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ANDORRA
€ 4100
- Tax system
- » Total income tax – 3-10% can be reduced to 0% under certain conditions.
- » Personal income tax 5-10%
- » VAT rate – 4.5%
- » Withholding tax - dividends - 0%, interest - 10%, Royalties - 5%
- » Capital gains tax – 0%
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AUSTRIA
€ 6500
- Tax system
- » Capital gains tax – corporate is subject to the standard CIT rate, individual – 27.5%
- » Withholding tax rates (for non-residents) – dividends – 0 or 27.5%, interest – 0%, Royalties – 0 or 20%
- » Corporate income tax (CIT) rate – 25%
- » VAT rate - 20%
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BELGIUM
€ 5000
- Tax system
- » Effective double taxation agreements with 45 countries
- » Corporate income tax rate – 25%
- » Capital gains tax – 25%
- » VAT rate – 21%
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BULGARIA
€ 2800
- Tax system
- » Corporate Income Tax (CIT) rate – 10%
- » Personal Income Tax rate – 10%
- » Withholding tax rates – dividends – 5%, interest – 10%, Royalties – 10%
- » Capital Gains Tax rates – corporate – – 10%, personal – 10%
- » VAT rate – 20%
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CROATIA
€ 3500
- Tax system
- » Corporate tax - 10% - for companies whose revenues do not exceed 3.8 million Euros
- » Corporate tax - 18% - for companies whose revenues exceed 3.8 million Euros
- » Total income tax - 0-18%
- » Corporate tax: dividends - 10% , interest - 15% , royalties - 15%
- » Individual tax: dividends - 10% , interest - 10% , copyright and author's rights - 20%
- » VAT rate – 25%
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CYPRUS
€ 4500
- Tax system
- » Corporate tax - 12.5%
- » Capital gains tax - 20%
- » Personal income tax - 35%.
- » VAT rate – 19%
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CZECH REPUBLIC
€ 2700
- Tax system
- » Corporate income tax (CIT) – 19%
- » Withholding tax rates – dividends – 15%, interest – 15%, Royalties – 15%
- » VAT rate – 21%
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ESTONIA
€ 3500
- Tax system
- » Corporate tax - 20%
- » Personal income tax - 20%
- » Withholding tax - corporate: dividends - 0%, interest - 0%, Royalties -
10%, individual: dividends - 0% or 7%, interest - 0%, royalties - 10%
- » Rate of VAT – 22% (24% from 01.07.2025)
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GERMANY
€ 5000
- Tax system
- » Corporate tax - 15%
- » Trade tax - 3.5%
- » VAT rate – 19%
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HUNGARY
€ 3750
- Tax system
- » Corporate tax - 9%
- » Personal income tax - 15%
- » VAT rate - 27%
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IRELAND
€ 4750
- Tax system
- » Corporate tax - commercial corporations – 12.5%, non-commercial corporations – 25%
- » Personal income tax - 40%
- » Withholding tax – dividends – 25%, interest – 20%, royalties – 20%
- » Capital gains tax rates – corporate – 33%, personal – 33%
- » VAT rate – 23%
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ITALY
€ 3550
- Tax system
- » Corporate tax - 24%
- » Variety of tax rates for financial, banking and insurance activities
- » VAT rate - 22%
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LATVIA
€ 2500
- Tax system
- » Corporate income tax (CIT) – 20%
- » Personal income tax rate – 31%
- » Withholding tax rates – general for non-residents: dividends – 0%,
for non-residents in tax havens: dividends – 20%, interest – 20%, remuneration – 20%,
- » Capital gains tax rates – corporate – 20%, individual – 20%
- » VAT rate – 21%
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LITHUANIA
€3500
- Tax system
- » Corporate income tax (CIT) – 15%
- » Personal income tax rate – 32%
- » Capital gains tax rates – corporate – 15%, personal – 20%
- » VAT rate – 21%
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MALTA
€ 4800
- Tax system
- » Corporate income tax (CIT) – formally 35%, but the actual rate is 5%*( see details )
- » Personal income tax rate – 35%
- » Capital gains tax rates vary depending on the source of income and the taxpayer.
- » VAT rate – 18%
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MONACO
€ 8500
- Tax system
- » Corporate income tax (CIT) – 25%
- » Personal income tax rate – residents of Monaco are exempt
from taxation, but in the case of non-residents, the laws of other countries apply
- » VAT rate – standard – 20%, reduced (for some activities ) – 10%/5.5%
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MONTENEGRO
€ 3900
- Tax system
- » Corporate income tax (for legal entities) - 15%
- » Corporate income tax (for individuals) - 15%
- » Withholding tax (for non-residents) - dividends - 15%, interest - 15%
- » Capital gains tax - for legal entities persons - 15%, for individuals - 15%
- » VAT rate – 21%
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NETHERLANDS
€ 4100
- Tax system
- » Corporate tax rate – 25%
- » Taxation of dividends – 15%
- » Preferential tax regime for companies that create IP products
- » No taxation of capital gains and royalties
- » VAT rate – 21%
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NORWAY
€ 4900
- Tax system
- » Corporate tax rate – 22% (25% for certain types of financial activities)
- » Personal income tax rate (PIT) – 22%
- » Preferential tax regime for companies that create IP products
- » Withholding tax rates (for non-residents) dividends – 25%
- » VAT rate – 25%
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POLAND
€ 4000
- Tax system
- » Corporate tax rate – 19%
- » Personal income tax rate – standard - 32%, additional 4%
of solidarity tax for income over PLN 1 million.
- » Withholding tax rates (applied to foreign taxpayers)
dividends – 19%, interest – 20%
- » VAT rate – 23%
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ROMANIA
€ 2800
- Tax system
- » Corporate tax rate – 16%
Entrepreneurs pay only 3% on their profits in the event of:
The company operates in one of the following areas: - Trade; - Production of goods;
- Performance of works/provision of services; - Owners of "small business":
- Annual income 100,000 euros; - Staff 9 people; - small business, religious
organizations, educational institutions and some others – 0%;
- » Real estate tax – 0.25-0.5%
- » Dividend tax – 5%
- » Gambling tax – 2%
- » VAT rate – 19%
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SERBIA
€ 3200
- Tax system
- » Corporate tax rate – 15%
- » Total income tax rate – 20%
- »Withholding tax (for non-residents) - dividends - 20%, interest - 20%
- » Capital gains tax - Corporate - 15%, Individual - 15%
- » VAT rate – 20%
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SLOVAKIA
€ 5600
- Tax system
- » Income taxes: corporate income tax (for legal entities - 21%)
Corporate income tax - 22%
- » Local taxes: corporate income tax - 22%,
Real estate tax - 0.033 EUR / m², land tax - 0.25 EUR / m².
- » Social tax - 35.2%
- » VAT rate – 23%
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SLOVENIA
€ 3600
- Tax system
- » Corporate income tax (CIT) rate – 19%
- » Personal income tax rate – 50%
- » Withholding tax rates (for non-residents) – dividends – 15%, interest – 15%
- » Capital gains tax rates – corporate – 19%, individual – 27.5%.
- » VAT rate – 22%
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SPAIN
€ 4500
- Tax system
- » Corporate Income Tax (CIT) rate – 25%
- » Withholding tax (for non-residents) – 19% on dividends,
19% on interest and 19 or 24% on royalties
- » Capital gains taxes – corporate – 25%
individual (for non-residents) – 19%
- » VAT rate – 21%
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SWITZERLAND
€ 6500
- Tax system
- » Corporate income tax (CIT) rate – from 11.9% to 21.0%
(depending on location in Switzerland), of which the federal tax is 8.5%
(on profits after taxes) or 7.83% (on profits before taxes)
- » Depending on the canton, personal income tax is between 22.1% and 45.5%.
The federal tax rate is 11.5%;
- » Dividend tax – from 0% to 35%
- » VAT rate – 7.7%
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UNITED KINGDOM
€ 2850
- Tax system
- » Corporate Income Tax (CIT) rate – 25%. For companies whose profits do not
exceed GBP 50,000, a 19% corporate income tax is applied.
- » Personal income tax – 45%
(but can be lower – depending on income)
- » Withholding tax (for non-residents) – dividends – 0%, interest – 20%
- » VAT rate – 20%
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RUSSIA
€8000
- Tax system
- » Corporate income tax (CIT) rate – 15%
- » Foreign investors setting up businesses in Russian free zones benefit from
tax exemption for the first five years
- » VAT rate – 20%
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OFFSHORE COMPANIES
WITH LOW TAXES
ANGUILLA
€ 3800
- Tax system
- » Personal income tax – 0%
- » Value added tax – 0%
- » Tax, withheld at source (for non-residents) – none for dividends, interest and royalties
- » Capital Gains Tax – Corporate – 0% , Individual – 0%
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ANTIGUA
€ 4000
Tax System
- » Personal Income Tax – 0%
- » Value Added Tax – 0%
- » Withholding Tax source (for non-residents) – none for dividends, interest and royalties
- » Capital Gains Tax – Corporate – 0%, Individual – 0%
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BAHAMAS
€4500
Tax system
- » Corporate Income Tax (CIT) rate – 0%
- » Personal Income Tax (PIT) rate – 0%
- » Capital Gains Tax rates – 0%
- » Withholding Tax rates for non-residents – 0%
- » VAT – 0% or 12% (if you trade locally)
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BARBADOS (IBC/SCC)
€ 4900
Tax system
- » Income tax as well as other indirect taxes – 0%
- » Property or inheritance taxes; – 0%
- » Import of goods, equipment, raw materials and plants payment of duties and fees – 0%
- » Providing a wide range of benefits to foreign persons.
- » VAT – 0%
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BELIZE
€ 4200
Tax system
- » Belize legislation is based on English law and provides many opportunities for foreign investors.
Local legislation does not contain any restrictions for non-residents, but on the contrary, offers tax and customs relief.
It is even possible to register and conduct business here remotely. There are no restrictions on non-residents owning
real estate and other assets in this jurisdiction, except when non-residents register an IBC (such a company cannot
own real estate in the country). Income earned abroad is
not subject to taxes, including corporate tax.
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BERMUDA ISLANDS
€ 8000
Tax system
- » Personal income tax – 0%
- » Value added tax – 0%
- » Withholding tax (for non-residents) – none on dividends, interest and royalties
- » Capital gains tax – corporate – 0%, Individual – 0%
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BRITISH VIRGIN ISLANDS
€ 7200
Tax system
- » Corporate tax rate – 0%
- » Personal income tax – 0%
- » Withholding tax (for dividends, interest and royalties) - 0%.
- » Capital Gains Tax - None
- » Value Added Tax – None
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CAYMAN ISLANDS
€ 6850
Tax System
- » Personal Income Tax – 0%
- » Value Added Tax – 0%
- » Withholding Tax (for non-residents) – none on dividends, interest and royalties
- » Capital Gains Tax – Corporate – 0% , Individual – 0%
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DOMINICA
€ 4500
Tax System
- » Corporate Tax Rate - 25%
- » Personal Income Tax Rate - 15-35% (depending on income)
- » Withholding Tax Rate (Dividends/Interest/Royalties) remuneration) - 15%
- » Capital gains tax rate - 0 %
- » Value added tax – 15 %
- » Offshore companies are tax-exempt in Dominica for twenty years.
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GIBRALTAR
€5100
Tax system
- » Corporate tax rates – 10%
- » Withholding tax rates – 0%
- » Capital gains tax rates – 0%
- » Value added tax – 0%
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GRENADA
€ 6900
Tax system
- » Corporate tax rates – 30%*
- » VAT – from 0% to 20%, depending on the category of goods or services;
- » 10% if income is less than XCD 24,000 (about $9,000);
- » Value added tax – 0%
- *Corporations established under the International Companies Act are completely exempt from corporate tax on
business outside the jurisdiction of the island. An investor can establish a company in Grenada and apply for exemption
from taxes for 20 years.
- » There is no inheritance, wealth or capital gains tax, nor is there a stamp duty.
- » Companies in Grenada must keep accounting records.
However, there is no requirement to file financial documents with regulatory authorities.
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GUERNSEY
€ 8800
Tax System
- » Guernsey's tax regime is very favorable, with income tax at 0% for most types of companies.
- » Banks, insurance companies, trust companies, aircraft registry managers
and profits from investment transactions are subject to a rate of - 10%
- » Income from properties located in Guernsey, from the import and supply of gas and oil and income from cannabis cultivation,
the tax rate is 20%. There are no inheritance taxes, capital gains, capital transfer
or value added taxes in Guernsey.
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ISLE OF MAN
€5500
Tax system
- » Corporate tax - 0%, 10% (for banking and retail), 20% (for real estate transactions)
- » PIT - 20%
- » Dividend tax - 0%
- » Capital gains tax - 0%
- » Value added tax - 20%
- » There is also no inheritance tax on the island, which makes registering a
company a tax-efficient way to own real estate.
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JERSEY
€ 11600
Tax system
- » Global corporate income tax - 0%.
- » Income from real estate on the island, large corporate retailers and mining companies, is subject to a rate of - 20%
- » Financial services company in Jersey is subject to tax - 10%
- » PIT - 20%
- » Capital gains tax - 0%
- » Value added tax - 5%
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LABUAN
€ 3500
Tax system
- » Corporate Income Tax (CIT) rate – 3%
- » Personal Income Tax rate – progressive rates may vary depending on
residents’ income. However, the tax does not apply to non-residents.
- » Withholding tax rates – not applicable
- » Capital gains tax - 0%
- » Value added tax – 0%
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MARSHALL ISLANDS
€ 4800
Tax system
- » Corporate income tax rates a tax of 80 USD is levied on the first 10,000 USD of income
and a rate of 3% applies to the rest of the income (for non-residents (i.e. offshore income) the income is exempt from CIT)
- » Personal income tax rates – 8-12%
- » Sales tax rates (instead of value added) – 2% or 4%
- » Withholding tax (for non-residents) – none
- » Capital gains tax (for non-residents) – none
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NIUE ISLAND
€ 4500
Tax system
- » Personal income tax – 0%
- » Value added tax – 0%
- » Withholding tax (for foreigners) – none for dividends, interest and royalties
- » Capital gains tax – corporate – 0% , Individual – 0%
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PANAMA
€4800
Tax system
- » Personal income tax rate – in this case, a progressive rate scale is applied
depending on the amount of income with the highest rate 25% - for residents, and 15% - for non-residents
- » Value added tax rate – 7% (of the tax on the transfer of movable goods and services)
- » Withholding tax rates – dividends – 5/10/20% , interest – 12.5% , royalties – 12.5%
- » Capital gains tax – depends on the type of transaction and its value.
- » Offshore Panama companies that receive income from activities outside Panama do not pay taxes on them.
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SAINT KITTS AND NEVIS
€ 4000
Tax system
- » Companies must pay taxes only on income derived from the territory of Saint Kitts and Nevis.
All worldwide profits are not taxed in this state. Dividends are also not taxed.
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SAINT LUCIA
€ 7500
Tax system
- » Corporate tax - 30%
- » Income tax - 30%
- » Withholding tax (for non-residents) - Dividends - 0%, Interest - 15%, Royalties - 25%
- » VAT - 12.5%
- » It is much more profitable to register offshore in Saint Lucia due to the non-application of the taxes
described above, in case of doing business outside the country (rates - 0%).
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SEYCHELLES
€ 4300
Tax system
- » It is easy and profitable for a non-resident to register a business in Seychelles. The business environment is open to foreign
investments and foreigners receive many benefits from the local government. Income generated outside the jurisdiction is
not subject to corporate tax. Data on foreign investors is disclosed only in
exceptional cases with court decisions. A license will be required to carry out certain regulated activities
(e.g. brokerage, banking or insurance).
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TURKS AND CAICOS ISLANDS
€5500
Tax system
- » Corporate Income Tax (CIT) rate – 0%
- » Personal Income Tax rate – 0%
- » Capital Gains Tax rates – none
- » Value Added Tax - 0%
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UNITED ARAB EMIRATES (OAE)
€7000
Tax system
- » Corporate tax - for oil and gas companies - up to 55%, for branches of foreign banks - 20%, for most other companies and branches - 0%;*
- » Withholding tax - none
- » Capital gains tax rates - none
- » Value added tax - 5%
- » Offshore companies in the UAE are exempt from paying taxes in the UAE.
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VANUATU
€ 9800
Tax system
- » Corporate income tax (CIT) rate – 0%
- » Personal income tax rate – 0%
- » Capital gains tax rates – none
- » Value added tax – 0% or 12.5%
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