It's difficult to give a precise answer, as everyone has different preferences. When thinking about a classic offshore company, you could say that the choice of location is almost indifferent. There is usually no double tax treaty between Hungary and offshore locations. However, if there were, it would more than likely treat non-resident companies separately, so they would not be subject to these benefits.

In my opinion, one of the most important factors when making a choice is that the customer feels safe. In recent years, the only snail in the sea has been the British Virgin Islands. In this location there is a markedly high turnover of companies, so data security is not satisfactory. There is also the problem that a familiar and well-functioning workflow cannot be established, as a new person is already on the job. This is unfortunately the case with almost all incorporators in the British Virgin Islands. We have recently had quite a few clients come to us with BVI companies managed by different companies and, although the client was dissatisfied, we had to resolve many problems due to the circumstances described above.

Experience over the past years shows that Seychelles, Belize, Marshall Islands, Panama are the most reliable countries. Furthermore, the United Arab Emirates is also the most reliable and suitable place to register offshore companies. However, it is important to note that the United Arab Emirates is not a member of the Hague Convention, so it is not able to issue or accept apostille certification. The form of authentication they use is a very expensive procedure. Although these companies open bank accounts in many places, it is easiest to travel to Dubai and open one there. An additional inconvenience with an Arab company is that the company documents clearly state (even on the seal) that it is offshore. In addition to the high cost of authentication, it is worth noting that the incorporation and maintenance fees for companies registered here are also much higher than in other locations.

To sum up, we consider Seychelles to be the best value for money of the reliable countries listed.