Compare jurisdictions side by side
See 2 or 3 jurisdictions side by side: all-in cost for year 1 and year 2, headline tax, audit, registers and time to form. Hong Kong is a good fit for trade with China & Asia, territorial tax. Singapore is a good fit for Asia HQ, investors, treaties with around 100 jurisdictions. British Virgin Islands is a good fit for holding, JV, investment vehicle.
| Comparing2 jurisdictions |  Panama |  United States |
|---|---|---|
Onshore · LLC or C-CorporationUS$1,699Year 1 all-inStart in United States+ US Form 5472 filing, quoted separately | ||
| Cost | ||
| Year 1 all-in | PanamaUS$2,099 | United StatesUS$1,699✓ Lowest |
| From year 2 | PanamaUS$2,169 | United StatesUS$799+ US Form 5472 filing |
| 3-year cost (Starter) | PanamaUS$6,299 | United StatesUS$3,199+ US Form 5472 filing |
| Tax & reporting | ||
| Headline tax | Panama0% foreign-source; 25% on Panama-source profit✓ Best | United StatesPass-through |
| Annual audit | PanamaNo | United StatesNo |
| Public register | PanamaDirectors public | United StatesLimited |
| Setup | ||
| Type | PanamaOffshore | United StatesOnshore |
| Entity | PanamaSociedad Anónima | United StatesLLC or C-Corporation |
| Minimum directors | Panama3 | United States1 |
| Legal system | PanamaCivil | United StatesCommon |
| Time to form | Panama5–7 days | United States3–7 business days |
| Best for | PanamaTerritorial LatAm holding | United StatesAmazon, Stripe, Shopify, US clients |
Ask about this comparison
AI answers from OCC’s published jurisdiction facts · no sign-up
Which one for your situation
You need a business bank account soon
Hong Kong or Singapore. Banks usually find onshore companies easier to assess, but each bank decides.
You want a lower running cost
British Virgin Islands, from US$1,795 a year based on published year-2 prices.
You only hold shares or other assets
British Virgin Islands. Your home country may still tax the income, so check that first (confirm with your specialist).
You need it fast
Hong Kong, typically 1–2 business days after KYC approval.
General guidance based on headline rules, not tax or legal advice. Your specialist confirms how tax residency, substance and banking apply to you before you pay.