“Where should I incorporate?” is usually asked as a tax question. For a founder who lives in one country and wants a company in another, it is really four questions: where your customers are, where you live, who has to open the bank account, and how much yearly admin you will carry. The headline tax rate matters, but it is rarely what decides it.
This guide compares the six places we set companies up in for international founders: Hong Kong, Singapore, the British Virgin Islands, the United States (a Delaware or Wyoming LLC), the United Kingdom and Canada. Every fee and rule below comes from the registry or tax authority itself, checked in October 2026.
At a glance
| Jurisdiction | Typically used for | Tax on company profits | Local person needed | Government fee to form |
|---|---|---|---|---|
| Hong Kong | Asia trading, holding a China subsidiary | 8.25% on first HK$2m, 16.5% above | Company secretary based in Hong Kong | HK$1,545 online |
| Singapore | ASEAN headquarters, start-ups raising money | 17%, with partial and start-up exemptions | One director ordinarily resident in Singapore, plus a resident secretary | S$300 + S$15 name |
| BVI | Holding and investment vehicles | No corporate income tax | BVI registered agent | Set by the registry, paid via the agent |
| US LLC (Delaware / Wyoming) | Selling to US customers, US payment platforms | LLC itself usually not taxed; filings still due | Registered agent in the state | Delaware $110 · Wyoming $100 |
| UK limited company | UK and European customers, a familiar name | 19% up to £50,000, 25% above £250,000 | UK registered office address | £100 online |
| Canada | Canadian customers, North American presence | Federal 15% plus provincial (non-resident-controlled) | Federal: 25% resident Canadian directors; Ontario and BC: none | Federal $200 · Ontario $300 · BC $350 |
The four questions that actually decide it
- Where are your customers and suppliers? A company close to its market gets paid more easily, signs contracts customers recognise, and passes supplier onboarding with fewer questions.
- Where do you live, and where will the company be run from? Many countries tax a company where it is actually managed, not only where it is registered. Estonia’s tax board says it plainly for e-residents: running an Estonian company from abroad “will probably” create a taxable presence abroad. Your own residence can matter more than the company’s address. We cover this in company in one country, you in another.
- Can you get a bank account for it? A company without a working account is a certificate on a shelf. Banks look at who owns the company, where they live, and whether the business has a reason to be in that jurisdiction.
- What does it cost to keep each year? Annual returns, accounts, audits and tax returns differ much more than formation fees do. Cheap to form is not cheap to keep; see what cheap company formation actually costs.
Jurisdiction by jurisdiction
Hong Kong
- Setup
- Filed online with the Companies Registry; an electronic certificate is normally issued within about an hour. Government fee HK$1,545 online, HK$1,720 on paper (business registration fee extra).
- People
- At least one director, who can live anywhere. A company secretary is compulsory and must be a Hong Kong resident individual or a Hong Kong company; a sole director cannot also be the secretary. The registered office must be in Hong Kong.
- Tax
- Two-tier profits tax: 8.25% on the first HK$2 million of assessable profits and 16.5% above, with only one company in a connected group getting the lower tier. Hong Kong taxes only profits sourced in Hong Kong. See how the two tiers work.
- Every year
- Annual return within 42 days of the incorporation anniversary. Every company except a dormant one must have its accounts audited, whatever its size.
- Privacy
- The significant controllers register is kept by the company and is not open to the public.
- Good fit
- Trading across Asia, invoicing in several currencies, owning a Mainland China subsidiary.
Sources: Companies Registry: incorporation · IRD: two-tiered rates · Companies Registry: audit · Annual return
More: Hong Kong company formation and our Hong Kong formation guide.
Singapore
- Setup
- Filed on ACRA’s Bizfile; most companies are registered soon after payment, longer if another agency must approve the name or activity. Government fee S$300 plus S$15 for the name.
- People
- At least one director must be ordinarily resident in Singapore (Companies Act s.145). If you don’t live there, that means a nominee or a resident hire. A resident company secretary is required within six months.
- Tax
- 17% headline rate. The partial exemption takes 75% off the first S$10,000 and 50% off the next S$190,000 of chargeable income; qualifying new companies get a start-up exemption for their first three years of assessment instead.
- Every year
- AGM within six months of the year end and an annual return within seven months. Small companies that pass two of three tests (revenue and assets up to S$10 million each, up to 50 employees) can skip the audit.
- Privacy
- The register of controllers is not public.
- Good fit
- Regional headquarters for Southeast Asia, venture-backed start-ups, treasury functions.
Sources: ACRA: Bizfile registration · ACRA: fees · Companies Act s.145 · IRAS: rates and exemptions · ACRA: audit exemption
More: Singapore company formation.
British Virgin Islands
- Setup
- Only a licensed BVI registered agent can file; a complete application is usually incorporated within one working day. Government fees are set by the registry and paid through the agent.
- People
- One or more directors, no residency rule. A BVI registered office and registered agent at all times; no company secretary.
- Tax
- No corporate income tax and no capital gains tax in the BVI. Your own country’s rules on foreign companies you control still apply to you.
- Every year
- An annual financial return filed with the registered agent within nine months of the year end (not public). Companies carrying on certain “relevant activities” must meet economic substance rules and report on them.
- Privacy
- Beneficial owners of 10% or more are filed with the registry within 30 days of incorporation; the register is not public, though since 2025 people with a legitimate anti-money-laundering interest can apply for some details.
- Good fit
- Holding companies, joint ventures and investment vehicles. Expect banks to ask harder questions than for an operating company elsewhere.
Sources: BVI FSC: incorporation guide · BVI FSC: tax structure · Annual financial return · Beneficial ownership access
More: BVI company formation.
United States: Delaware or Wyoming LLC
- Setup
- Delaware charges $110 to form an LLC, with paid express options; Wyoming charges $100, and online filings take effect when completed. Both require a registered agent in the state.
- People
- No US residency or citizenship needed to own or manage an LLC.
- Tax
- A single-member LLC is ignored for US income tax by default. If its owner is not a US person, it must still file Form 5472 with a pro forma Form 1120 every year; the penalty for not filing is $25,000. Getting an EIN without a US tax number means applying by phone, fax or mail, not online. (A C-corporation, by contrast, pays 21% federal tax.)
- Every year
- Delaware LLC annual tax $400, due by 1 June. Wyoming annual report licence tax of at least $60, due in the month the company was formed.
- Privacy
- Since August 2026, companies formed in the US no longer report beneficial owners to FinCEN; only foreign companies registered to do business in a state do.
- Good fit
- Selling to US customers and using US payment platforms. Not a tax-free company: what the IRS doesn’t tax, your home country may.
Sources: Delaware fee schedule (Aug 2026) · Delaware LLC tax · Wyoming fees · IRS: Form 5472 instructions · IRS: SS-4 instructions · FinCEN: BOI
United Kingdom: private limited company
- Setup
- £100 online with Companies House, usually registered within 24 hours. Every director must have verified their identity with Companies House (online with a passport from any country, or through an authorised agent) and gives a personal code at registration.
- People
- At least one director who is a real person, aged 16 or over; directors don’t have to live in the UK. The registered office must be an appropriate UK address, and the company needs a registered email address.
- Tax
- Corporation tax of 19% on profits up to £50,000 and 25% above £250,000, with marginal relief between; both limits shrink if there are associated companies.
- Every year
- Confirmation statement (£50 online), accounts within nine months of the year end (21 months for the first), and a company tax return. Small companies under two of three limits (turnover £15 million, assets £7.5 million, 50 employees) can skip the audit.
- Privacy
- People with significant control are shown on the public register.
- Good fit
- UK and European customers, marketplaces and payment platforms that prefer a UK entity.
Sources: GOV.UK: register a company · Companies House fees · Directors · Identity verification · Corporation tax rates · Audit exemption
Canada
- Setup
- Federal incorporation with Corporations Canada costs $200 online and usually takes a day; Ontario costs $300 and British Columbia $350. A federal company must also register in each province where it does business.
- People
- Federally, at least 25% of directors must be resident Canadians (one, if there are fewer than four directors). Ontario dropped its residency rule in July 2021, and British Columbia has none, so a founder abroad usually incorporates provincially.
- Tax
- Federal corporate tax is 15% net, plus provincial tax (Ontario 11.5%, BC 12% general rates). The lower small-business rate is only for Canadian-controlled private corporations, so a company controlled by a non-resident pays the general rates.
- Every year
- A federal annual return within 60 days of the anniversary, with significant-control information, and a T2 corporate tax return every year even when no tax is due.
- Privacy
- For federal companies, the names of individuals with significant control and a description of their control are public.
- Good fit
- Canadian customers, staff or contracts. Plan the provincial choice around the director rule.
Sources: Corporations Canada: fees and times · CBCA s.105 · BC: incorporation · Ontario: fees · CRA: corporation tax rates · ISC public information
Two places founders also ask about
The UAE. Dubai and the other emirates are popular with relocating founders. A federal corporate tax now applies, and companies in a free zone can pay 0% on qualifying income if they meet the conditions. The UAE is mostly a fit if you plan to live there. See the UAE Ministry of Finance.
Estonia (e-Residency). An Estonian company pays no corporate tax while it keeps its profits; distributions are taxed at 22/78 (about 22% of the gross amount). E-Residency is a digital identity for running the company online. It is not a visa or tax residence, and a company run from abroad will probably be taxable abroad too. See the Estonian Tax and Customs Board and e-Residency.
We don’t form companies in either, but we’ll tell you honestly if one of them suits you better.
A quick way to narrow it down
- You sell mostly in Asia, or own a factory or subsidiary in China: start with Hong Kong; compare Singapore if Southeast Asia is the bigger market.
- You’re raising venture money: ask your investors first. Many want a particular structure, and changing it later costs more than getting it right now.
- You hold shares, property or other companies rather than trade: the BVI or Hong Kong, depending on where the assets are and how they’ll be banked.
- Your customers are in the US: a US LLC, with the yearly IRS filing in your diary from day one.
- Your customers are in the UK or Europe: a UK limited company, once your identity verification is done.
- You’re selling to or hiring in Canada: a provincial company, often Ontario or British Columbia, because of the director rule.
Whatever you pick, decide the bank before you form the company, and check with a tax adviser in the country where you live how it will treat a company you control abroad.
Not sure which one fits?
Tell us where your customers are, where you live and what the company will do. We’ll compare the options for your case and set the company, the bank account and the books up together.
Compare jurisdictions with usFrequently asked questions
What is the best country to incorporate in as a non-resident?
There isn’t one best country. Pick the place that matches where your customers are, where you live and run the company, and where you can open a bank account. Hong Kong suits Asia trade, Singapore suits Southeast Asian headquarters, a US LLC suits US sales, a UK company suits UK and European customers, and the BVI suits holding structures.
Can I incorporate a company abroad without living there?
Yes, in all six places in this guide. Some need a local person: Hong Kong needs a company secretary based in Hong Kong, Singapore needs a director ordinarily resident in Singapore, and a federal Canadian company needs resident Canadian directors. Ontario and British Columbia companies don’t.
Is a US LLC tax-free for a foreign owner?
Not automatically. A single-member LLC is ignored for US income tax by default, but a foreign-owned one must still file Form 5472 with a pro forma Form 1120 every year, and your home country may tax the profit. Ask your adviser how your country treats it.
Which jurisdiction is quickest to set up?
Hong Kong online filings are normally certified within about an hour, UK online registrations within 24 hours, and Canadian federal and BVI applications within about a working day. A bank account usually takes much longer than the company itself.
Does a 0% tax jurisdiction mean I pay no tax?
No. A company with no local tax, like a BVI company, can still be taxed where it is actually managed, and many countries tax their residents on companies they control abroad. Get advice in the country where you live before you rely on a 0% rate.
General information for internationally mobile founders, not tax, legal or immigration advice for your situation. Rules and fees change; confirm your position with a qualified adviser in each country involved before acting.