- Switzerland (particularly the Canton of Zug)
- Cost of Incorporation: Generally moderate. Switzerland is characterized by a high cost of living and high quality of services.
- Tax System: While Switzerland as a whole offers relatively low tax rates, the Canton of Zug is known for its particularly low tax rates.
- Features: Known as “Crypto Valley,” the Canton of Zug is very friendly to blockchain startups, and many blockchain companies have established a presence there.
- Malta
- Company formation costs: Generally low to moderate.
- Tax System: By utilizing an effective tax rebate system, the effective corporate tax rate is very low at 5%.
- Features: Malta is also known as the “Blockchain Island” and is very open to businesses related to crypto assets. Clear regulations and guidelines are in place, providing strong support for the industry’s growth.
- Estonia
- Company Formation Costs: Relatively low.
- Tax System: Corporate income tax is levied only when profits are distributed; reinvested profits are not taxed.
- Features: Estonia is a highly digitized country, and its e-Residency program makes it easy for foreign nationals to incorporate a company online. Regulations governing crypto assets are clear, and many startups have established a presence there.
- Singapore
- Company Formation Costs: Generally moderate.
- Tax System: The maximum corporate tax rate is 17%, but due to various deductions, the effective tax rate is often lower than that.
- Features: Positioned as a hub for finance and technology, it hosts many blockchain-related companies and events. Regulations are transparent, creating a business-friendly environment.
- Gibraltar
- Company formation costs: Moderate.
- Tax System: The maximum corporate profit tax rate is 10%.
- Features: Gibraltar is known as the first jurisdiction to introduce a DLT (Distributed Ledger Technology) license. As a result, it offers a favorable environment for blockchain-related businesses.
- Luxembourg
- Company Formation Costs: On the higher side.
- Tax System: The standard corporate tax rate is approximately 24%, but tax reductions are available under certain conditions.
- Features: As one of Europe’s financial hubs, it has adopted policies that support innovation in fintech and blockchain-related fields.
- Bermuda
- Company formation costs: Moderate to high.
- Tax System: No corporate income tax, capital gains tax, or VAT.
- Features: Bermuda has established clear regulations and guidelines for businesses related to ICOs and crypto assets, and actively supports the business environment.
- Hong Kong
- Company formation costs: Moderate.
- Tax System: Corporate income tax is 16.5%.
- Features: With a strong position as a financial hub, it is a region that attracts crypto-asset-related startups and investors. Regulations are relatively flexible, and it is considered easy to start a business there.
- Seychelles
- Company formation costs: Low.
- Tax System: No taxes on offshore companies.
- Features: Offshore company registration is popular, with many companies established in the financial services industry in particular. Crypto asset-related businesses are also thriving.
- Cayman Islands
- Company formation costs: Moderate to high.
- Tax System: No income tax, capital gains tax, value-added tax, or inheritance tax.
- Features: Known as a hub for offshore finance, with many hedge funds registered there. The establishment of blockchain-related companies and funds is also on the rise.
- Belize
- Company formation costs: Relatively low.
- Tax System: Offshore companies are not subject to taxation.
- Features: Popular for offshore company formation; well-suited for companies that prioritize privacy.
- Dubai (UAE)
- Company formation costs: On the higher side.
- Tax System: Companies in many free zones are not subject to taxation.
- Features: Dubai is increasing its investment in blockchain technology and has announced an ambitious plan to migrate all government documents to the blockchain by 2020.
- Liechtenstein
- Company formation costs: Moderate to high.
- Tax System: Corporate income tax is up to 12.5%.
- Features: Liechtenstein is known as a country friendly to crypto assets and blockchain technology, and is introducing new laws and policies related to these areas.
- Puerto Rico
- Company formation costs: Moderate.
- Tax System: Very low tax rates apply to certain businesses and individuals.
- Features: Although it is a U.S. territory, it has special tax measures in place. The crypto assets community is growing, and many related events are held there.
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