A company where it makes sense

Business-friendly and fast to license, which is why so much of the sector sits here. Forex, crypto and iGaming all have a route.

• Profit tax 12.5%
• VAT 19%, EU VAT 0%

Europe’s software capital, with the banking and talent that follow from it. Suits IT, trading, shipping and marketing companies.

• Profit tax 12.5%
• VAT 21%, EU VAT 0%

The centre of gravity for finance, crypto and gaming licences. Headline tax is high; for foreign founders the effective rate is not.

• 35%, effectively 5%
• VAT 18%, EU VAT 0%

Digital-first government and a tax that only bites when you take money out. Crypto-friendly with quick licensing.

• 20% on distributed profit
• VAT 20%, EU VAT 0%

Nothing taxed until distribution, plus a startup visa and a logistics position into the EU market.

• 20% on dividends
• VAT 21%, EU VAT 0%

The EU route for e-money and crypto licences, with a reduced rate for smaller companies.

• 5% to 20%
• VAT 21%, EU VAT 0%

The lowest corporate rate in the union, with VAT registration handled at incorporation.

• Profit tax 9%
• VAT 27%, EU VAT 0%

A flat rate and low running costs, for operations that need EU standing without EU overheads.

• Flat 10%
• Low maintenance

A global financial centre with flexible structures: partnerships that carry no tax for non-residents, and companies that suit fintech and payments work.

• LP and LLP: 0% for non-residents
• LTD: 20% VAT, 0% with EU VAT

Banking-oriented and quietly prestigious, with a closed shareholder register for those who want one.

• Profit tax from 11%
• By canton

Taxed only on local income, no VAT. The standard entry point to Asian markets.

• 16.5% local income
• No VAT

A serious fintech hub with unusually high banking approval rates, which is worth more than the tax line.

• 17% local income
• No capital gains tax

Free zone, mainland or offshore, with full foreign ownership in the zones and residency visas attached to the company.

• LLC, FTZ or IBC
• 100% ownership in zones

An LLC with federal exemptions for non-residents, formed in days. The default for tech and fintech startups.

• Federal exemptions
• Fast formation

Partnerships can be tax-neutral when managed from outside the country, with the trade agreements of a developed economy behind them.

• Tax-neutral if managed abroad
• Strong treaties

Territorial taxation means foreign income is untaxed, and maintenance stays simple.

• 0% on foreign income
• Low upkeep

Pairs with the gaming licence, which is why most operators end up with both.

• 0% on foreign income
• Licence plus company

IBC structures with a low rate up to a threshold, subject to current substance rules.

• 3% up to $1.5M
• Substance applies

The simplest and cheapest incorporation on this list, with nothing else attached.

• 0% corporate tax
• Low cost

IBCs with physical presence rules since 2019, still workable for finance businesses without a separate licence.

• Presence rules apply
• No separate licence

Trusted for regulated forex and fintech, with financial and investment licensing available.

• Financial licensing
• Forex and fintech

Strong asset protection and fast formation, at zero offshore tax.

• 0% offshore
• Asset protection