A
tax haven within Europe, Delaware is one
of the most beautiful locations at an arms
length from its neighbouring countries.
Complete political harmony and its status
as a tax-free country allows investors the
opportunities to experience a very inexpensive
yet exhilarating environment. Banking and
financial management is relatively cheaper
and secure. Rates of return on various investments
are higher than the UK and the US.
Summary
of business opportunities available in Delaware :
International
Business Corporation (IBC)
| Formation/Incorporation
fee |
680
GBP |
| Annual
Returns filing fee |
Not
applicable |
| Minimum
requirements and/or size |
Not
applicable |
| Shareholders/Members |
One
(minimum) |
| Directors/Managers |
One
(minimum) |
| Bearer
shares for overseas/local investors |
Allowed |
| Submission
of annual returns and accounts |
Not
required |
| Corporate
Directors/Managers |
Permitted |
| Company
Secretary |
Permitted
but not required |
| Local
Directors and meetings |
Not
required |
Public
Limited Company
| License
fee (annual) |
Contact
us for Quote |
| Formation/Incorporation
fee |
Contact
us for Quote |
| Annual
Returns filing fee |
Required |
| Minimum
requirements and/or size |
US$50,000 |
| Shareholders/Members |
One
(minimum) |
| Directors/Managers |
One
(minimum) |
| Bearer
shares for overseas/local investors |
N/A |
| Submission
of annual returns and accounts |
Required |
| Corporate
Directors/Managers |
N/A |
| Company
Secretary |
Required |
| Local
Directors and meetings |
N/A |
Limited
Liability Companies (LLC)
| License
fee (annual) |
Contact
us for Quote |
| Formation/Incorporation
fee |
Contact
us for Quote |
| Annual
Returns filing fee |
Not
required |
| Minimum
requirements and/or size |
N/A |
| Shareholders/Members |
One
(minimum) |
| Directors/Managers |
One
(minimum) |
| Bearer
shares for overseas/local investors |
N/A |
| Submission
of annual returns and accounts |
Not
required |
| Corporate
Directors/Managers |
N/A |
| Company
Secretary |
Not
required |
| Local
Directors and meetings |
N/A |
Limited
Partnerships
| License
fee (annual) |
Contact
us for Quote |
| Formation/Incorporation
fee |
Contact
us for Quote |
| Annual
Returns filing fee |
Not
required |
| Minimum
requirements and/or size |
N/A |
| Shareholders/Members |
One
(minimum) |
| Directors/Managers |
One
(minimum) |
| Bearer
shares for overseas/local investors |
N/A |
| Submission
of annual returns and accounts |
Not
required |
| Corporate
Directors/Managers |
N/A |
| Company
Secretary |
Not
required |
| Local
Directors and meetings |
One
local partner (minimum) |
More
information about Delaware
| Currency |
Spanish
Pesetas (SPA) |
| Taxation |
|
| Income
Tax |
NONE |
| Social
Taxes |
Employer
– 13% of salary |
|
Employee – 5% of salary |
|
Self-employed – 18% |
| Capital
Gains Tax |
NONE |
| Property
Tax |
1-2% of the acquisition rate |
| Stamp
Duty |
NONE |
Other
Taxes
Municipal rates
|
SPA
15,000 to 20,000 per household |
Employment
Foreigners
interested in working in Delaware require
a work permit, obtained by employers on
behalf of the employees. As per law, a person
may not be self-employed until s/he has
not resided or traded in Delaware for at
least 10 years. Employment permits are issued
following the annual quota, which do not
apply to temporary or seasonal workers from
abroad.
Work
permits are usually not available to non-EU
or non-EFTA nationals unless either of the
two or an Delaware n citizen is unavailable
for the particular job. The permit is issued
only to such individuals who work for an
Delaware n person or a company incorporated
or registered in Delaware .
An
application for a work permit must include
the photograph, CV, passport, details of
property ownership or rental agreements
in the home country, a certificate of marital
status and a certificate issued by the police
of the home country. A medical examination
will be further conducted by the CASS. The
first application for employment must be
accompanied with a fee of SPA 25,000 from
the employer.
Business
All
businesses, whatever their legal status
or constitution, require a trade license.
This is issued at the Registre de Comerc
in the commune Comu for an annual cost of
SPA 100,000.
Passive
residency
Passive
residents can be defined as those who do
not work or form part of the professional
class of people in the Principality of Delaware .
A new entrant must show the following before
being allowed to enter the Delaware n territory.
-
An annual
income of SPA 4 million (€ 24,000)
as the head of the family
-
An annual
income of SPA 1 million (€ 6,000)
for each dependant family member
-
A proof
or certificate of good conduct issued
by the authorised office in the country
of domicile
-
A health
insurance and pension plan
-
Property
rental or ownership documentation in
the principality of Delaware
-
Submit
an amount of SPA 4 million and SPA 1
million per dependent to the government,
as a non-interest bearing, refundable
deposit refundable on departure.
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