Montserrat is an island in the Caribbean Sea and administered as a British Overseas Territory. This small island with little population hasn’t got wide range of economic activities and favors the formation of offshore companies to run its economy effectively. For this purpose, this British overseas territory provides several incentives and advantages for those who want to establish IBC (international business company) in Montserrat.
Following are few important benefits that make Montserrat an ideal location for offshore company formation.
- Only a single director and shareholder are required for formation of Montserrat IBC. Both these positions can be taken by a single person. Directors and shareholders could be of any nationality and can reside anywhere in the world
- As a British Overseas Territory, Montserrat ensures political and economic stability
- The official language is English and it is the language used in all legal documents
- Offshore companies are exempted from income tax, corporate tax, dividend tax, withholding tax and stamp duty for 25 years after their registration in Montserrat. If source of income is from outside the island, then IBCs are completely exempted from ll types of taxes
- IBCs are not required to file audited accounts. Documents filed with the Registrar’s office are not available to the public
- All accounts are kept completely secure and confidential. The names of directors, shareholders and beneficial owners are not made public. IBC’s name, its incorporation date and name of local registered agent is the only information available to the public
- Formation of company is easy. Minimum authorized share capital is mere $10,000
- Annual meetings between at least two shareholders are required. But these meetings can be held anywhere in the world and there is no compulsion of holding these meetings in Montserrat
- The whole process from preparation of documents, registration of company and its approval usually takes up to 5 days. It means it is one of the quickest in the world
- Annual fee is also low at around US $1500
These are the most important benefits provided by Montserrat for foreign investors who want to setup their offshore company in this Caribbean island. Though not very famous, but many investors are taking interest in Montserrat due to its potential benefits to their businesses and capital. For more inquires and assistance in setting up Montserrat IBC, you can contact DOCS Consultancy via our WhatsApp # 971-56-9971225, landline # 971-4-5586339 or email address [email protected]