Comoros is a modest archipelago located between Africa and Madagascar. The reputation in the world is the most anti, in almost all its manifestations. If you compare, then you can give an analogy: the status of Comoros is worse than that of Seychelles, just as much as Seychelles lag behind Sweden or Singapore.

At the same time, this is absolutely what you need. Moreover, the state is a member of many international organizations and now has its program of economic citizenship. Therefore, let’s study the three (four) islands that make up the Union in more detail.

Setting up a business in an offshore jurisdiction Comoros

Not everyone knows where Comoros is located, and even more so that companies are being created there. The question of the reputation of these companies in those places that know about the existence of business in Comoros is also big.

One of the reasons is that it can be difficult to register a company here. And not in the sense that the requirements are high, and the operators find fault, but in the fact that the legality of the providers themselves is often a discussed topic. Until now, it is easy to stumble upon those who will take the money and give out unremarkable papers, saying that the company has been created. But in reality – no.

The country has not signed the Hague Convention. Therefore it is not possible to obtain an apostille on documents. Instead, confirmation is required to be obtained through the diplomatic mission or the government. But they also cannot always carry out a thorough check. At least because the level of secrecy is remarkably high, and there are not enough tools for international assistance. And we shouldn’t forget about the usual laziness and unwillingness to change anything.

More or less, you can be confident in the service provider on the island of Ndzuani (Anjouan). In general, if you have the papers of a Comorian company (yours or someone else’s) in front of you, it is very arduous to say whether they are real or so it seems.

Corporate taxes in the offshore jurisdiction of Comoros

Despite the level of secrecy of companies and other features of offshore Comoros, taxes are high here. The only question is how many are collected, and who? According to Doing Business, which ranked the countries with the highest tax burdens on business, in Comoros, the total rate is 216.5% (2016). And this is even though there is no need to pay for workers, even for social funds. Income tax alone is 32.1%.

We assume that foreign investors who run the risk of establishing a company here agree in some way.

Trusts and Foundations offshore Comoros

Foundations and trusts in Comoros are not talked about. There is none of them. And even if there were, surely few people would use them – fears would be caused not by the risks of being disclosed by foreign courts or creditors but by local officials and other interested people.

Banks in the offshore jurisdiction of Comoros

There are banks on the island. Even your own could have been opened some time ago, which led to the creation of more than 300 institutions that had never been to Comoros. Although the service is no longer available, some providers still advertise banks in Comoros for $ 20,000. For some reason, next to their information is the old flags of the islands, instead of the new ones adopted after 2012.

If we talk about those banks that work, then the situation is as follows: their market is internal; even if you open an account, there will be secrecy, but you can’t do anything special with money. The reputation and development of the banking sector are low. Therefore it is complex to work in the international arena. Even the Dominican Republic is much more applicable in the world.

And yes – it is also challenging to determine from the securities which bank is honest and which deceiver. Therefore, either use trusted data sources or do not fool yourself and open an account in other jurisdictions.

Offshore life Comoros

Let’s face it: even there are not many tourists here, not to mention the ex-pats. Interesting things: rare reptiles and an endemic bird of Livingston’s brat, which lives on two islands. In general, that’s all.

Unless you are interested in obtaining economic citizenship in Comoros. Advantages: price – $ 40,000, plus commissions; speed – consideration takes about 1 month.

A passport allows you to enter without a visa or with a visa at the border of 40 countries of the world, including Hong Kong, Singapore, the Philippines, and Malaysia. Yes, the main block of land is in Asia and Africa. But in the developing world, this is no longer a minus.

The passport will be valid for five years with renewal. Compared to other passports by investment, Comoros is losing out, but the price and visas to specific countries can get interesting.

Who is the offshore Comoros suitable for?

If your goal is maximum data privacy, and you are not afraid of risk – Comoros may be suitable. At the same time, you need to understand that it will be difficult to bring money from respected jurisdictions to Comoros – few people trust these islands in the world.

The program of citizenship by investment is also of interest. And although there are currently more favorable price ratios, the number of visa-free countries, and the reputation, it is worth exploring the issue.