Nauru, this small Micronesian country of coral beauties and with only 21km2 of territory, still maintains the goodness that made it flourish in the 80's and 90's as a feasible market for the formation of offshore companies with the policy of banking silence.

The Independent Republic of Nauru was ranked as the richest jurisdiction in the world, it had no unemployment indicators, all basic and social services were covered and the population did not pay taxes, this last fiscal policy is still present in Nauru.

At the end of 2005, the government of Nauru made a 180-degree turnaround from its shady situation of lack of transparency and legality of its practices and passed the Law that eliminates the possibility of money laundering, with which Nauru was removed from the list of non-cooperative countries.

A Nauru International Business Company (IBC) has the following benefits:

o 100% foreign ownership.
o No taxation.
o Confidentiality.
o Limited liability.
o Registration in just two days.
o Only one shareholder who can be the sole director.
o No minimum capital requirement.

The new legal entities receive a guarantee from the government that no new taxes will be imposed for a period of up to 50 years.

Although Nauru is not listed in the World Bank's Doing Business 2020 publication that evaluates 190 economies in terms of the ease of doing business, the facilities it offers for incorporating an IBC company should not be missed.

If this jurisdiction has attracted your attention and you would like more information about the possibilities of incorporating an offshore company, please contact our Foster Swiss consultants.

For more information on this topic or any other requirement related to our services, please contact us directly at info@fosterswiss.com