Singapore
Pte Ltd
✓17% flat, with startup relief beneath it✓Nothing on dividends, nothing on capital gains✓Incorporated in 1-3 days - one director must be resident
You come to Asia for the market, not for the tax rate.
Most of these are real economies charging real tax - 22% in Indonesia, 25% in China, close to 31% in Japan. Business in Asia is usually built to sell into the region, manufacture there or hire local teams, and incorporation itself is rarely the difficult part. The resident director, investment approval, bank account and work permit are the harder steps, so we plan them before the company is filed.
31
Asian jurisdictions
6,000+
companies registered
70+
banking relationships
Updated · Reviewed by the Prifinance team
Where we register
Twelve that cover most of the Asia work we do
Hong Kong
Ltd · private company
✓8.25% on the first HKD 2 million, 16.5% above it✓Offshore profits at 0% - earned with substance, not claimed✓No VAT anywhere in the system; every company audits annually
Labuan
Labuan Company
✓3% on audited trading profits, 0% on qualifying holdings✓No withholding on anything leaving the island✓The rate is bought with staff and office - without them, 24%
China
WFOE · 100% foreign
✓A WFOE is 100% foreign-owned; the negative list leaves most sectors open✓25%, an effective 5% on small profits, 15% inside the Hainan free-trade port✓Capital paid within five years - and the bank step is done in person
India
Private Limited · MCA
✓One SPICe+ filing delivers the company, tax numbers and GST together✓FDI is automatic in most sectors; GIFT City carries a ten-year holiday✓A resident director is mandatory - we provide one
Vietnam
LLC / JSC · 100% foreign
✓100% foreign ownership through a licence, not a local partner✓20%, incentives at 10-17%, and corporate dividends leave at 0%✓Entry is the IRC then the ERC - 4-8 weeks
Indonesia
PT PMA · 100% foreign
✓Southeast Asia’s largest market - 280 million people✓22%, 0.5% on small turnover, pioneer holidays to twenty years✓The IDR 10 billion investment plan per activity is the ticket in
Thailand
Private limited
✓20% with SME relief, registered in 1-3 weeks✓The Foreign Business Act caps foreigners at 49% in most services and trade✓BOI promotion gives 100% ownership and holidays of 3-13 years
Malaysia
Sdn Bhd · 100% foreign
✓24%, with incentive regimes running down to 0%✓No withholding on dividends - the single-tier system✓One director must actually live in Malaysia; we solve that
Japan (Kabushiki Kaisha)
KK · joint-stock
✓The corporate name that opens doors nothing else opens in Asia✓≈30.6% effective, with no resident director required since 2015✓The bank account, not the company, is the real project
Philippines
Corporation / OPC
✓25%, or 20% for small corporations; PEZA holiday then a 5% gross-income rate✓A One Person Corporation a single foreign founder can own outright✓Domestic-market selling above 40% foreign ownership takes $200,000 paid in
South Korea
Chusik / Yuhan Hoesa
✓9-24% corporate tax plus 10% local✓The FDI ticket is KRW 100 million, and it carries the D-8 investor visa✓Asia’s fourth-largest economy - localisation is mandatory, not optional
The part that ends badly
A registered company is not yet a business you can run
The certificate arrives on the date the table promises. Everything that makes the company usable - the account, the licence and the visa for the person who will run it - runs on its own clock, and none of that is reflected in the registry timeline.
✓The bank account arrives weeks or months after the certificate; in China you attend in person✓Nominee shareholding used to dodge an ownership cap is void by law in Indonesia and actively targeted in Thailand✓Work permits and investor visas run separately, and hiring cannot begin before they are issued✓Money leaves on central-bank paperwork, through an account that must already exist before the capital arrives
This is why the company, bank, licence and visa are planned together. Running them sequentially is how a six-week project becomes a six-month one.
Ask what the real timeline is →When it works
What people actually come here to do
If you are deciding how to do business in Asia, the starting point is usually not the lowest tax rate. Almost nobody registers here simply to reduce tax. They come because the customers, factory or staff are in the region, and a local company is the practical way to reach them.
✓Sell into the market - 280 million people in Indonesia, 115 million English-speaking consumers in the Philippines✓Manufacture and use the incentive attached to it - Vietnam, Thailand’s BOI, Bangladesh’s ten-year economic zones✓Hire - an English-literate workforce in Sri Lanka, Nepal and the Philippines, including one of the world’s major BPO centres✓Hold the region from a place counterparties already trust - Singapore, Hong Kong or Labuan
Each of those points to a different jurisdiction and a different order of doing things. That is the content of the opinion.
Get a free legal opinion →What registration covers
What we do, and what you get at the end
Incorporation is the easy part. The work is choosing correctly, satisfying the registrar and getting a bank account opened afterwards.
These include:
✓Choice of jurisdiction and legal form against your real activity✓Name check, incorporation and the full corporate document set✓Registered office and registered agent for the first year✓Beneficial ownership filings where the jurisdiction requires them✓Apostille and legalisation of documents for use abroad
Additionally, where needed:
✓Bank or EMI account opening, with 70+ relationships behind the application✓Nominee or resident director where the law requires one✓Substance - office, staff and local presence✓Accounting, annual returns and tax registration✓Licences, permits and sector approvals
Several of these jurisdictions now require annual filings and substance reports that did not exist five years ago. We keep them filed.
| What | Typical time | What you receive |
|---|---|---|
| Name approval | Same day to 3 days | Reserved company name |
| Incorporation | 1 day to 8 weeks | Certificate, charter, register of members |
| Corporate documents | With incorporation | Resolutions, share certificates, POA |
| Apostille set | 3-10 business days | Legalised documents for the bank |
| Tax and social registration | 1-3 weeks | Tax number, VAT where applicable |
| Bank account | 2-8 weeks | IBAN and access to the account |
The bank is the slow step everywhere, and it is the one that decides whether the structure was worth building. We start it in parallel, not afterwards.
Comparison of jurisdictions
All 31, with the real rate and the real timeline
The rate below is the headline corporate rate. It is not what a BOI-promoted manufacturer in Thailand pays, or an IT exporter in Pakistan, or a company still waiting for foreign-investment approval, and it says nothing about what it costs to bring the profit home.
01
Fastest on paper
Singapore in 1-3 days, Kyrgyzstan in 3-7, Hong Kong in 2-5 business days, Israel in 3-7. None of those figures includes the bank account.
02
Where tax genuinely leads the decision
Labuan at 3% on audited trading profits, Hong Kong at 8.25% on the first tranche, Singapore at 17%, Macau at 0% up to MOP 600,000, with Kyrgyzstan’s 10% behind them. Everything else is a real rate in a real economy.
03
Where a gate comes before the company
Thailand caps foreigners at 49% in most services and trade until BOI promotion lifts the restriction. The Philippines wants $200,000 paid in for domestic sales above 40% foreign ownership, South Korea KRW 100 million, Mongolia $100,000 per foreign shareholder and Indonesia an IDR 10 billion investment plan.
04
Incentives that beat the headline rate
Vietnam at 10-17%, Malaysia down to 0%, PEZA holidays then a 5% gross-income rate in the Philippines, GIFT City for ten years in India, Astana Hub near zero for IT in Kazakhstan and 0.25% on IT exports in Pakistan. All are conditional, and the conditions are audited.
| Jurisdiction | Legal form | Time to set up | Corporate tax | Remote |
|---|---|---|---|---|
| Hong KongMore details → | Ltd · private company | 2-5 business days | 8.25% / 16.5% | Yes - fully online |
| LabuanMore details → | Labuan Company | 1-2 weeks | 3% - audited | - |
| BaliMore details → | PT PMA · 100% foreign | 3-6 weeks | 22% · small 0.5% | Yes - by POA |
| BangladeshMore details → | Private Ltd · RJSC | 3-6 weeks | 27.5% · RMG 12% | Yes - by POA |
| BhutanMore details → | Private Ltd · FDI | 2-4 months | 25% | Partly - one visit expected |
| BruneiMore details → | Sdn Bhd · private | 2-4 weeks | 18.5% - relieved | - |
| CambodiaMore details → | Private Limited Co. | 1-3 weeks | 20% · QIP holidays | Yes - via CamDX |
| ChinaMore details → | WFOE · 100% foreign | 4-8 weeks | 25% · small ~5% | Mostly - bank in person |
| IndiaMore details → | Private Limited · MCA | 2-4 weeks | ~25.2% effective | - |
| IndonesiaMore details → | PT PMA · 100% foreign | 3-6 weeks | 22% · small 0.5% | Yes - by POA |
| Japan (Godo Kaisha)More details → | GK · LLC analogue | 1-3 weeks | ≈30.6% effective | Yes - by POA |
| Japan (Kabushiki Kaisha)More details → | KK · joint-stock | 2-4 weeks | ≈30.6% effective | Yes - by POA |
| KazakhstanMore details → | TOO (LLP) · AIFC company | 1-2 weeks | 20% · special 0% | Yes - by POA |
| KyrgyzstanMore details → | OsOO (LLC) | 3-7 days | 10% · HTP ≈0% | Yes - by POA |
| LaosMore details → | LLC · 100% foreign | 4-8 weeks | 20% · SEZ holidays | Yes - by POA |
| MacauMore details → | Limitada (Lda) | 2-4 weeks | 0% → 12% over MOP 600k | Yes - by POA |
| MalaysiaMore details → | Sdn Bhd · 100% foreign | 1-2 weeks | 24% · incentives to 0% | Yes - by POA |
| MaldivesMore details → | Private limited company | 3-6 weeks with FDI approval | 0% → 15% over MVR 500k | Mostly - approvals by POA |
| MongoliaMore details → | LLC · 100% foreign | 2-4 weeks | 10% → 25% over MNT 6B | Yes - by POA |
| NepalMore details → | Private limited | 4-8 weeks with approval | 25% · industry rebates | Mostly - by POA |
| PakistanMore details → | Private limited / SMC | 1-2 weeks | 29% · small 20% | Yes - by POA |
| PhilippinesMore details → | Corporation / OPC | 3-6 weeks | 25% · small 20% | Yes - by POA |
| SingaporeMore details → | Pte Ltd | 1-3 days | 17% · startup relief | Yes - fully |
| South KoreaMore details → | Chusik / Yuhan Hoesa | 2-4 weeks | 9-24% + 10% local | Yes - by POA |
| Sri LankaMore details → | Private limited | 1-3 weeks | 30% · exports 15% | Yes - by POA |
| TajikistanMore details → | LLC | 5-6 business days | 18% · producers 13% | Yes - by POA |
| ThailandMore details → | Private limited | 1-3 weeks | 20% · SME relief | Yes - by POA |
| VietnamMore details → | LLC / JSC · 100% foreign | 4-8 weeks | 20% · incentives 10-17% | Yes - by POA |
| IsraelMore details → | Ltd · Private Company | 3-7 business days | 23% · tech 7.5-16% | Yes - by POA |
| UzbekistanMore details → | LLC | Real time · 30 minutes max | 15% · 4% turnover option | Yes - e-signature or POA |
| Timor-LesteMore details → | Lda | Free · 1-5 days | 10% flat | Partly - filing by power of attorney |
Important: Two rows are not separate countries. Japan appears twice because the choice between a Godo Kaisha and a Kabushiki Kaisha is real at the same effective rate: the GK is cheaper and faster, while the KK is what some Japanese counterparties still expect to see. Bali is an Indonesian PT PMA - the same legal form and 22% rate, but with a different set of local permits.
Company registration in Bhutan is one of the longer projects in this comparison: the source gives a 2-4 month timeline, a Private Ltd under the FDI route and at least one expected visit. The “Remote” column refers to incorporation, not operation. A company formed by power of attorney may still need someone the bank will meet and, in several countries, someone the law recognises as resident.
Before you register
What the registrar, the ministry and the bank each want
Three different institutions, three different files. The registrar is usually the quickest of them, which is why the registry timeline flatters the project.
01
Passport and proof of address, legalised Certified copies for every shareholder and director, apostilled or consularised depending on the country, and usually issued within the previous three months.
02
A business activity in the local wording China writes it into the business scope on the licence and you are held to it. Elsewhere it is an activity code. Describe the business too broadly and the registrar may reject it; too narrowly and you may need to refile when adding a product.
03
A resident director or local representative India, Singapore, Malaysia and Brunei require one outright. Japan’s KK has not since 2015. In Kazakhstan, a foreign director outside the special regimes needs a work permit before signing.
04
Capital that is actually committed Indonesia wants an IDR 10 billion investment plan per activity, Laos around LAK 1 billion for general foreign business, Nepal NPR 20 million with IT exempt, Korea KRW 100 million. China allows five years to contribute the capital and then expects it to be paid.
05
Foreign investment approval, where it comes first Company registration in Bhutan starts with project-by-project investment approval and takes 2-4 months. The Maldives also works approval-first, Nepal requires approval before operations, and Vietnam uses a two-stage IRC → ERC process.
06
Translation and localisation of the file Vietnamese documentation runs in Vietnamese, while Korea treats localisation as mandatory. Budget for sworn translation and for another round when terminology has to be corrected.
07
A bank that will actually open the account Hong Kong’s banks are the slow lane. Singapore’s choose their clients. Macau wants a real local nexus rather than an empty new company. China expects you at the counter.
08
Source of funds, documented The same file everywhere, and the part applications are genuinely refused on. It often takes longer to assemble than the incorporation itself.
09
Visas and work permits for the people A Balinese PT PMA carries the KITAS, Korea’s D-8 follows the KRW 100 million FDI ticket, and Japan’s Business Manager visa now starts at ¥30 million. Kyrgyz work-permit quotas are real and they run out.
10
Annual audit, filings and tax registrations Every Hong Kong company audits annually and Labuan’s 3% is an audited rate. Indian GST filings are monthly. Cambodia’s 1% minimum tax punishes weak books, so bookkeeping starts in month one rather than at year end.
Note: The list is longer than it is for an offshore company because there is more to do here than simply exist. Open the bank and visa files on the day the company is filed, not on the day it is finished.
On the ground
Sixteen offices, our own people
Prague
Czech Republic
Vlkova 532/8, Žižkov
Berlin
Germany
Rankestraße 26
Singapore
Singapore
3 Church Street, #29-68 Samsung Hub
Bangkok
Thailand
Unit P01, Penthouse, VASU1, 1 Sukhumvit 25 Alley
Foshan
China
A-Tower, Yuneng Digital Plaza, 46 Lishui Avenue South
Bishkek
Kyrgyzstan
32 Razzakov Street
How it works
Five stages from first call to a working account
STEP 01
The opinion
We establish where you live, where you work, where the company will bank and what it will do. From that come the jurisdiction, legal form and written reasoning. Free.
STEP 02
Documents and name
Certified passports, proof of address, the activity description and a name the registrar will accept. Translations and legalisation where required.
STEP 03
Incorporation
Filed by us or by our local partner. You receive the certificate, constitutional documents and registers.
STEP 04
Legalisation and the bank
Apostille where the bank needs it, followed by the account application. Banking starts in parallel with incorporation, not afterwards.
STEP 05
Keeping it alive
Registered agent, annual return, accounting and substance filings.
Why Prifinance
Why this is worth paying a lawyer for
Anyone can sell you an incorporation in Asia. The value lies in the order the steps are taken in and in being told which parts of the plan will not work.
01
6,000+ companies, so the failure modes are familiar
A registrar rejecting the activity wording, a capital account opened after the money moved or a resident-director seat nobody arranged - the same problems recur across all 28 jurisdictions.
02
The resident-director seat is solved before filing
India, Singapore, Malaysia and Brunei will not register the company without one. We provide it and explain what that person can and cannot be asked to sign.
03
The bank is chosen before the jurisdiction
70+ banking relationships, and we know which institutions will look at a China+1 manufacturer, a Philippine BPO or a Bali villa operator, and which will not open the file at all.
04
We say no to structures that are not legal
Nominee shareholders are illegal in Thailand and void in Indonesia. Land remains Khmer-owned in Cambodia and is leasehold in the Maldives and Sri Lanka. If the plan depends on one of those arrangements, you hear it before paying.
05
The company keeps running afterwards
Audit, monthly tax filings, licence renewals, work permits and repatriation paperwork are handled by the same team that registered the company.
Your team
The people who will run your file
Dmitri Mihhailov
General Partner
Leads Prifinance's corporate practice and oversees client engagements, with senior expertise in international company structuring and bank-account setup.
Eugeniu Bevziuc
Corporate services advisor
Corporate services and compliance: documents, legalisation, annual filings and the bank's questions.
Alex Danila
Company formation specialist
Your day-to-day contact - coordinates incorporation, documents and the bank introduction, from the first call through to launch.
Follow Prifinance
Active across our channels.
▶
Watch: how an Asian market entry is sequenced - company, bank, licence, visa
Good to know
Four things about tax that change the answer
In Asia, the headline tax rate is one of the least useful numbers on the page. Incentives, distribution taxes, exchange controls and substance requirements usually move the result much further.
The headline rate is rarely what you pay
It goes down: Vietnam to 10-17%, Israeli technology to 7.5-16%, Philippine ecozones to a 5% gross-income rate. It can also go up: Korea adds 10% local tax, while Pakistan adds super tax at scale.
Getting the profit out is the second rate
Vietnam lets corporate dividends leave at 0%, and Malaysia withholds nothing under the single-tier system. Nepal takes 5% as a final tax and Mongolia 20%. That figure belongs in the model next to the corporate rate.
Exchange control decides the timing
China’s capital controls are real. Bangladesh repatriates on Bangladesh Bank paperwork, Nepal through the central bank, and Sri Lanka only through an inward-investment account opened before the money arrives.
The low rate is bought with substance
Labuan’s 3% requires real staff and an office on the island, otherwise Malaysia’s 24% applies. Hong Kong’s offshore claim is earned in much the same way. Incentive regimes are conditional and those conditions are checked.
Important: None of this makes business in Asia inherently expensive. It makes the corporate tax rate a poor way to choose between jurisdictions, even though that is still how many comparisons begin.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
“Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and…”
Google
“I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!”
Google
FAQ
What people ask before choosing a jurisdiction
Which is the fastest?+
Singapore in 1-3 days, Kyrgyzstan in 3-7, Hong Kong in 2-5 business days and Israel in 3-7. Vietnam, China, Laos and Nepal take 4-8 weeks, while Bhutan takes 2-4 months.
Can I set it up without travelling?+
In most jurisdictions, yes, by power of attorney. Bhutan expects a visit, China’s bank step is done in person, and the Maldives and Nepal are remote only as far as the approval process goes. For Labuan, Brunei and India the table does not promise fully remote setup.
Where is the tax actually low?+
Labuan at 3% on audited trading profits, Hong Kong at 8.25% on the first HKD 2 million, Singapore at 17%, Macau at 0% up to MOP 600,000 and 12% above. Kyrgyzstan charges 10% and Mongolia 10% on its first tier. Most other jurisdictions charge real rates between roughly 20% and 30%.
Do I need a local partner?+
Usually not. Cambodia allows 100% foreign ownership in nearly every sector, Bangladesh and Pakistan in most, Vietnam through a licence and China through a WFOE. Thailand is the main exception at 49% until BOI promotion, while some licensed Malaysian sectors still carry local-equity requirements.
Do I need a resident director?+
In India, Singapore, Malaysia and Brunei, yes, and we provide one. Japan’s KK has not required one since 2015. In Kazakhstan, a foreign director outside the AIFC and tech park needs a work permit first.
How much capital do I really need?+
Kyrgyzstan and Israel set no minimum, and a Japanese KK can formally be created with ¥1, although ¥5 million or more is the practical figure. Against that: IDR 10 billion per activity in Indonesia, NPR 20 million in Nepal with IT exempt, KRW 100 million in Korea, $100,000 per foreign shareholder in Mongolia and $200,000 in the Philippines for domestic sales above 40% foreign ownership.
How long does the bank account take?+
Longer than the company, everywhere on this page. Hong Kong’s banks are the slow lane, Singapore’s banks choose their clients, and Macau wants a real local nexus. Plan the account before choosing the country, not afterwards.
Can I get the profit out?+
Yes, through the required paperwork. Vietnam, Malaysia, Macau and Labuan take nothing on the way out; Nepal takes 5% as a final tax and Mongolia 20%. Bangladesh, Nepal and Sri Lanka route repatriation through central-bank or inward-investment accounts that need to exist before the capital comes in.
Does the company get me a visa?+
In some countries that is part of the reason for forming it. A Balinese PT PMA carries the KITAS, Korea’s D-8 follows the KRW 100 million FDI ticket, and Japan’s Business Manager visa now starts at ¥30 million. Elsewhere the company and permit remain separate applications and quotas may apply.
What if I only want a low rate?+
Then the answer is probably Hong Kong, Singapore or Labuan, and possibly not Asia at all. If nothing about the business requires a regional presence, the legal opinion should say so and point to a simpler structure elsewhere.
Free consultation
Tell us what the company is for
Your activity, which market you are selling into, whether you will hire and where the money has to end up. You get a written recommendation with a jurisdiction, a legal form, the approvals in order, a total cost and the reasoning - free of charge.
Written assessment within 2-5 business days