Cost of registering a business in the reference countries

What it costs and takes for a resident to legally earn online income in each of the 50 reference countries, as a sole proprietor and through a limited company. All figures in USD, compiled 2026-11-03. Entries marked estimated could not be confirmed on an official page; check the sources before acting. This is research, not legal or tax advice.

Generated by npm run build:catalog from data/incorporation/*.json. Edit the JSON, not this file. See also remote incorporation options for registering a company outside your country of residence.

Summary table

Country details

AO Angola

Sole proprietor. Registration: before earning (Register as an 'empresário em nome individual' with a NIF before trading; simplified tax regime up to AOA 25M turnover). Cost $40, annual $100, about 7 days, online: no. Registration goes through the Guiché Único da Empresa (GUE) and the AGT for a NIF. Self-employed income falls under IRT Group B. Most steps are in person. Register: https://www.gue.gov.ao

Company. Sociedade por Quotas (Lda) / Sociedade Unipessoal por Quotas: government fee $200, typical all-in $1,500, minimum capital $0, annual compliance about $2,500, about 15 days, online: no, 100% foreign ownership: yes, local director required: no. Formed through GUE. Share capital is set freely (the old Kz 100,000 minimum no longer applies). The Private Investment Law 2018 allows 100% foreign ownership in most sectors. Accounting and tax compliance usually need a certified accountant. Register: https://www.gue.gov.ao

Tax. Corporate 25%, personal top rate 25%, VAT 14% above $26,550. Small-business regime: Simplified regime for taxpayers with turnover of AOA 25M or less (no VAT charged). Exports of services are VAT-exempt. Paying foreign service providers requires BNA licensing and withholding.

Foreign currency. Capital controls: approval needed. BNA licenses foreign exchange. PayPal does not support receiving in Angola, and Payoneer or Wise withdrawals to local banks can be difficult. Bringing in and converting foreign income involves banking documentation.

Sources: https://taxsummaries.pwc.com/angola/corporate/taxes-on-corporate-income, https://www.gue.gov.ao, https://portaldocontribuinte.minfin.gov.ao, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

AR Argentina

Sole proprietor. Registration: before earning (Must register with ARCA (ex-AFIP) as monotributista or autónomo before invoicing; no threshold.). Cost $0, annual $385, about 1 days, online: yes. 'Monotributo' simplified regime: a single monthly payment (from 1 Aug 2026: category A ARS 49,527.18/month for services, up to ARS 12.0M gross income a year; top category K ARS 1,614,446/month, up to ARS 126.6M; indexed twice yearly) covers income tax, VAT and social security. Otherwise 'responsable inscripto'. Register: https://www.afip.gob.ar/monotributo/

Company. Sociedad por Acciones Simplificada (SAS) or SRL: government fee $150, typical all-in $900, minimum capital $450, annual compliance about $2,500, about 20 days, online: yes, 100% foreign ownership: yes, local director required: no. SAS minimum capital is 2 minimum monthly wages (~USD 450). IGJ (Buenos Aires) procedures and accountant/notary fees vary widely. Costs in USD swing with the exchange rate. Register: https://www.argentina.gob.ar/justicia/igj

Tax. Corporate 35%, personal top rate 35%, VAT 21% above $0. Small-business regime: Monotributo: fixed monthly fee by category (A-K) bundling tax and social security. Progressive CIT 25-35%. Exports of services are VAT-exempt (VAT credits refundable). Monotributistas can invoice foreign clients with Factura E.

Foreign currency. Capital controls: reporting only. The FX 'cepo' was largely lifted for individuals in April 2025. Companies may still face rules to liquidate service-export proceeds in the official market. Payoneer and Wise are commonly used; PayPal withdrawals are limited.

Sources: https://www.afip.gob.ar/monotributo/, https://www.argentina.gob.ar/justicia/igj, https://www.arca.gob.ar/monotributo/categorias.asp, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: estimated; last checked 2026-11-03.

AM Armenia

Sole proprietor. Registration: before earning (Individual entrepreneurs must register before carrying out business; no threshold.). Cost $0, annual $300, about 1 days, online: yes. 'Individual entrepreneur' (անհատ ձեռնարկատեր, IE). State registration is free and online via e-register. Can opt into turnover tax (10% for most activities, including services; trade 10% less 9.5% of documented purchases) up to AMD 115M, or microbusiness status (tax-exempt for eligible activities up to AMD 24M). Register: https://e-register.moj.am/en/

Company. Limited Liability Company (LLC, ՍՊԸ): government fee $0, typical all-in $300, minimum capital $0, annual compliance about $1,200, about 2 days, online: yes, 100% foreign ownership: yes, local director required: no. Online state registration is free (a AMD 600,000 fee applies only to names containing "Hay", "Armenia" or "Armenian"). No minimum capital. Registration with the template charter is immediate; otherwise up to 2 business days. Register: https://e-register.moj.am/en/

Tax. Corporate 18%, personal top rate 20%, VAT 20% above $319,004. Small-business regime: Turnover tax up to AMD 115M (10% for most activities incl. services; 1% for listed high-tech activities); microbusiness regime (exempt, limited activity list) up to AMD 24M. Services whose place of supply is outside Armenia (e.g. to foreign clients) are not subject to Armenian VAT. The IT-startup certificate regime has ended for new applicants.

Foreign currency. Capital controls: none. No controls; AMD is freely convertible. Wise and Payoneer work. PayPal sends only, with limited receiving.

Sources: https://e-register.moj.am/en/, https://www.petekamutner.am, https://e-register.moj.am/en/services/d0fd5a23-a8bf-4103-bedd-ef6a6db9cdda, https://taxsummaries.pwc.com/armenia/corporate/other-taxes, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: verified; last checked 2026-11-03.

AU Australia

Sole proprietor. Registration: before earning (An ABN is needed to invoice businesses (free). GST registration is mandatory at AUD 75,000 annual turnover. Business-name registration is needed only if not trading under your own name.). Cost $0, annual $0, about 1 days, online: yes. Sole trader. Registering a business name costs about AUD 45 for 1 year or AUD 104 for 3 years with ASIC (indexed). Register: https://www.abr.gov.au

Company. Proprietary company (Pty Ltd): government fee $403, typical all-in $700, minimum capital $0, annual compliance about $2,200, about 1 days, online: yes, 100% foreign ownership: yes, local director required: yes. The ASIC registration fee is about AUD 611 and the annual review fee about AUD 329 (both indexed each 1 July; figures estimated). At least one director must ordinarily reside in Australia, which a resident founder satisfies. A Director ID is required (free). Register: https://asic.gov.au/for-business/registering-a-company/

Tax. Corporate 25%, personal top rate 47%, VAT 10% above $49,500. Small-business regime: Base-rate entity CIT 25% (aggregated turnover < AUD 50M); small business income tax offset for sole traders. Services supplied to non-residents outside Australia are generally GST-free (exports). The top rate is 45% plus the 2% Medicare levy.

Foreign currency. Capital controls: none. No controls; AUSTRAC reporting applies to international transfers. PayPal, Wise and Payoneer work.

Sources: https://asic.gov.au/for-business/registering-a-company/, https://www.abr.gov.au, https://www.ato.gov.au, https://taxsummaries.pwc.com/australia/corporate/other-taxes, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: estimated; last checked 2026-11-03.

BD Bangladesh

Sole proprietor. Registration: before earning (Get an e-TIN and a trade licence from the city corporation or municipality. Turnover tax (VAT enlistment) applies from BDT 5M, and full VAT from BDT 30M). Cost $25, annual $25, about 7 days, online: yes. A sole proprietorship needs a trade licence and an e-TIN. IT and ITES freelancers can get an ICT Division freelancer ID, and IT and ITES income is tax-exempt until 30 June 2027 subject to conditions such as cashless receipts. Register: https://etaxnbr.gov.bd

Company. Private Limited Company / One Person Company (OPC): government fee $200, typical all-in $600, minimum capital $0, annual compliance about $900, about 10 days, online: yes, 100% foreign ownership: yes, local director required: no. Registered online with the RJSC; fees scale with authorised capital. An OPC needs BDT 2.5M to 50M paid-up capital. Audits are mandatory, and foreign-owned companies register with BIDA. Register: https://roc.gov.bd

Tax. Corporate 27.5%, personal top rate 30%, VAT 15% above $241,000. Small-business regime: VAT turnover tax at 4% for turnover of BDT 5M to 30M; a 1% minimum tax on gross receipts; the IT and ITES income exemption until June 2027. The corporate rate shown is for non-listed companies (25% if all transactions are cashless). Export of IT services is VAT zero-rated, and software and ITES exports get Bangladesh Bank cash incentives.

Foreign currency. Capital controls: approval needed. Bangladesh Bank exchange controls apply, and export proceeds must be repatriated. PayPal receiving is not available (Xoom inbound only). Payoneer and Wise into local bank accounts are the norm, and freelancers can open ERQ foreign-currency accounts.

Sources: https://taxsummaries.pwc.com/bangladesh/corporate/taxes-on-corporate-income, https://roc.gov.bd, https://nbr.gov.bd, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

BR Brazil

Sole proprietor. Registration: before earning (MEI registration (free, online via gov.br) is needed to issue invoices. MEI caps annual revenue at BRL 81,000; above that you must migrate to an ME under Simples Nacional.). Cost $0, annual $185, about 1 days, online: yes. 'MEI' (Microempreendedor Individual): monthly DAS of about BRL 80-86 (5% of minimum wage for INSS plus ISS/ICMS). Many intellectual professions (developers, consultants) are not eligible and must open an ME/SLU. Register: https://www.gov.br/empresas-e-negocios/pt-br/empreendedor

Company. Sociedade Limitada Unipessoal (SLU) / LTDA: government fee $150, typical all-in $500, minimum capital $0, annual compliance about $1,500, about 10 days, online: yes, 100% foreign ownership: yes, local director required: no. Junta Comercial plus municipal fees are about BRL 500-1,000. A contador is effectively mandatory (~BRL 400-800/month). No minimum capital. The administrator must be resident in Brazil. Register: https://www.gov.br/empresas-e-negocios/pt-br/redesim

Tax. Corporate 34%, personal top rate 27.5%, VAT 0% (no registration threshold). Small-business regime: Simples Nacional up to BRL 4.8M (services from ~6% of revenue, Annex III/V with Fator R); MEI fixed monthly fee up to BRL 81,000. No single VAT yet. ISS (2-5%) plus PIS/COFINS apply, but exported services are exempt from ISS and PIS/COFINS. CBS/IBS dual VAT is being phased in from 2026 (test rates) through 2033. The 34% CIT is IRPJ 15% + 10% surtax + CSLL 9%.

Foreign currency. Capital controls: reporting only. FX goes through authorised institutions with IOF tax. Inbound transfers are freely received; Wise, Payoneer and PayPal withdrawals work.

Sources: https://www.gov.br/empresas-e-negocios/pt-br/empreendedor, https://www.gov.br/receitafederal, https://taxsummaries.pwc.com/brazil/corporate/other-taxes, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: estimated; last checked 2026-11-03.

KH Cambodia

Sole proprietor. Registration: above income threshold (Sole proprietors with turnover above KHR 250M (about USD 61k) a year must register as small taxpayers with the GDT and the Ministry of Commerce). Cost $150, annual $100, about 14 days, online: yes. A sole proprietorship registers through the Ministry of Commerce's online business registration (single portal) and the GDT. It pays a patent tax each year and progressive tax of 0–20% on profit. Register: https://www.businessregistration.moc.gov.kh

Company. Private Limited Company (Co., Ltd.): government fee $300, typical all-in $1,000, minimum capital $974, annual compliance about $1,800, about 14 days, online: yes, 100% foreign ownership: yes, local director required: no. Registered online through the MoC single portal. Minimum capital is KHR 4M (about USD 1,000). Companies are medium taxpayers by default, with monthly filings and an annual patent tax. Foreigners can own 100% except land. Register: https://www.businessregistration.moc.gov.kh

Tax. Corporate 20%, personal top rate 20%, VAT 10% above $60,900. Small-business regime: Small taxpayers pay progressive rates of 0–20%; a 1% minimum tax applies if proper accounting records are not kept. The economy is dollarised and the VAT threshold is KHR 250M. Non-resident e-commerce suppliers charge 10% VAT, and exported services are zero-rated.

Foreign currency. Capital controls: none. No capital controls. USD is widely used. PayPal receiving is limited, but Payoneer, Wise and local banks such as ABA work.

Sources: https://taxsummaries.pwc.com/cambodia/corporate/taxes-on-corporate-income, https://www.businessregistration.moc.gov.kh, https://www.tax.gov.kh, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

CA Canada

Sole proprietor. Registration: not required (No registration needed when trading under your own legal name in most provinces; GST/HST registration is mandatory once worldwide taxable supplies exceed CAD 30,000 in four consecutive quarters.). Cost $0, annual $0, about 1 days, online: yes. Sole proprietor; business income is reported on form T2125 with the T1 return. Registering a trade name costs about CAD 60 in Ontario (varies by province). Register: https://www.canada.ca/en/services/business/start.html

Company. Corporation (federal CBCA or provincial, e.g. Ontario): government fee $143, typical all-in $400, minimum capital $0, annual compliance about $1,500, about 2 days, online: yes, 100% foreign ownership: yes, local director required: yes. Federal online incorporation costs CAD 200 (1 business day; CAD 100 extra for 4-hour express) and a NUANS report is no longer needed for an online word name; Ontario charges CAD 300. The federal annual return is CAD 12. The CBCA requires 25% resident-Canadian directors, which a resident founder satisfies; several provinces dropped this rule. Register: https://ised-isde.canada.ca/site/corporations-canada/en

Tax. Corporate 12%, personal top rate 54%, VAT 5% above $21,700. Small-business regime: Small business deduction: ~9% federal + provincial (combined ~11-12.2%) on the first CAD 500,000 of active business income. GST 5% or HST 13-15% by province. Services supplied to non-residents are generally zero-rated. Digital platforms collect GST/HST on B2C supplies.

Foreign currency. Capital controls: none. No controls. Large incoming cross-border transfers (CAD 10,000+) are reported by the institution to FINTRAC. PayPal, Wise and Payoneer all work.

Sources: https://ised-isde.canada.ca/site/corporations-canada/en, https://www.canada.ca/en/revenue-agency.html, https://ised-isde.canada.ca/site/corporations-canada/en/services-fees-and-processing-times, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: verified; last checked 2026-11-03.

CL Chile

Sole proprietor. Registration: before earning (Must file 'inicio de actividades' with SII before invoicing; no income threshold.). Cost $0, annual $600, about 1 days, online: yes. Self-employed professional ('persona natural con boletas de honorarios') or 'empresario individual' (EIRL optional). Honorarios carry a provisional withholding/retention of about 15.25% in 2026, rising yearly to 17% by 2028. Register: https://www.sii.cl

Company. Sociedad por Acciones (SpA) via 'Tu Empresa en un Día': government fee $20, typical all-in $300, minimum capital $0, annual compliance about $1,300, about 2 days, online: yes, 100% foreign ownership: yes, local director required: no. Formation in the online Registro de Empresas y Sociedades is free apart from an advanced electronic signature (~USD 20). No minimum capital. Needs a monthly accountant for F29 VAT returns. Register: https://www.registrodeempresasysociedades.cl

Tax. Corporate 12.5%, personal top rate 40%, VAT 19% above $0. Small-business regime: Pro-PYME regime (Art. 14 D) temporarily taxed at 12.5% for 2025-2027 (15% in 2028, 23% from 2029); general regime 27% in 2026, falling to 23% from 2029; honorarios for individuals carry no VAT. Professional services billed through boletas de honorarios are VAT-exempt. Exported services can be VAT-exempt if Customs qualifies them as exports. There is no VAT registration threshold.

Foreign currency. Capital controls: none. Free FX market. Transactions above USD 10,000 must go through the formal FX market and be reported to the Banco Central. PayPal withdrawals to Chilean banks work, as do Wise and Payoneer.

Sources: https://www.sii.cl, https://www.registrodeempresasysociedades.cl, https://taxsummaries.pwc.com/chile/corporate/taxes-on-corporate-income, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: estimated; last checked 2026-11-03.

CO Colombia

Sole proprietor. Registration: before earning (Must obtain a RUT from DIAN (free, online) before invoicing. Merchants (comerciantes) must also register with the Cámara de Comercio. Electronic invoicing is mandatory for VAT-responsible persons.). Cost $0, annual $50, about 1 days, online: yes. 'Persona natural' (independiente). Not VAT-responsible below 3,500 UVT gross income (COP ~183M in 2026 at UVT COP 52,374; ~USD 57,000). Can opt into the Régimen Simple de Tributación (RST). Register: https://www.dian.gov.co

Company. Sociedad por Acciones Simplificada (SAS): government fee $150, typical all-in $500, minimum capital $0, annual compliance about $1,500, about 5 days, online: yes, 100% foreign ownership: yes, local director required: no. Formed by private document at the Cámara de Comercio. Costs are the departmental registration tax (~0.7% of capital) plus matrícula mercantil (scaled by assets). No minimum capital. Annual renewal of the matrícula is due by 31 March. Register: https://www.vue.gov.co

Tax. Corporate 35%, personal top rate 39%, VAT 19% above $57,332. Small-business regime: Régimen Simple de Tributación (RST): unified 1.2-8.3% of gross income by activity, up to 100,000 UVT. Exported services can be VAT-exempt with documentation. Payments abroad carry withholding; incoming foreign payments to residents are taxable.

Foreign currency. Capital controls: reporting only. Service-export proceeds can be received via the free market. Large FX operations are declared to the Banco de la República through banks. PayPal withdrawals to Colombian banks and Payoneer work.

Sources: https://www.dian.gov.co, https://www.vue.gov.co, https://taxsummaries.pwc.com/colombia/corporate/other-taxes, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: estimated; last checked 2026-11-03.

CR Costa Rica

Sole proprietor. Registration: before earning (Must register with Hacienda (TRIBU-CR) before starting and enrol with CCSS as an independent worker; no threshold.). Cost $0, annual $900, about 3 days, online: yes. 'Trabajador independiente' / persona física con actividad lucrativa. CCSS social security contributions are mandatory, around 11-18% of declared income depending on the bracket. Register: https://www.hacienda.go.cr

Company. Sociedad de Responsabilidad Limitada (SRL) or Sociedad Anónima (S.A.): government fee $150, typical all-in $900, minimum capital $0, annual compliance about $1,500, about 10 days, online: yes, 100% foreign ownership: yes, local director required: no. A notary deed is required (Crear Empresa portal plus notary). There is an annual tax on legal entities of about 15-50% of a base salary (~USD 140-460), plus annual beneficial-ownership (RTBF) filing with BCCR. A resident agent is needed if the managers are non-resident. Register: https://www.crearempresa.go.cr

Tax. Corporate 30%, personal top rate 25%, VAT 13% above $0. Small-business regime: Progressive reduced CIT 5/10/15/20% (net-income brackets to CRC 5.62M/8.43M/11.24M) for small companies with gross income up to CRC 119,174,000; Régimen de Tributación Simplificada for some trades. Territorial system, but services performed in Costa Rica are CR-source even if the client is abroad. Exported services are exempt from IVA with credit rights. There is no VAT threshold for services.

Foreign currency. Capital controls: none. No FX controls; USD accounts are common. PayPal withdrawals usually go through a US bank or Payoneer.

Sources: https://www.hacienda.go.cr, https://www.crearempresa.go.cr, https://taxsummaries.pwc.com/costa-rica/corporate/taxes-on-corporate-income, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: estimated; last checked 2026-11-03.

EC Ecuador

Sole proprietor. Registration: before earning (Must obtain a RUC from SRI (free, online) before invoicing; no threshold.). Cost $0, annual $60, about 1 days, online: yes. 'Persona natural' under RIMPE: 'negocio popular' (revenue ≤ USD 20,000, fixed annual quota from ~USD 60) or 'emprendedor' (≤ USD 300,000). Electronic invoicing applies. Register: https://www.sri.gob.ec

Company. Sociedad por Acciones Simplificada (SAS): government fee $0, typical all-in $400, minimum capital $0, annual compliance about $1,200, about 3 days, online: yes, 100% foreign ownership: yes, local director required: no. Online formation at the Superintendencia de Compañías with no notary, free government fee and no minimum capital (Cía. Ltda. requires USD 400 and S.A. USD 800). An annual Superintendencia contribution and accountant are required. Register: https://www.supercias.gob.ec

Tax. Corporate 25%, personal top rate 37%, VAT 15% above $0. Small-business regime: RIMPE: negocios populares (fixed quota) and emprendedores (reduced rates) up to USD 300,000. IVA is 15% since April 2024. Exported services can be zero-rated with documentation. A 5% ISD (capital outflow tax) applies to outgoing transfers.

Foreign currency. Capital controls: reporting only. Dollarised economy, so no conversion is needed. The 5% ISD applies to outbound payments. PayPal withdrawals to local banks are limited; Payoneer is commonly used.

Sources: https://www.sri.gob.ec, https://www.supercias.gob.ec, https://taxsummaries.pwc.com/ecuador/corporate/taxes-on-corporate-income, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: estimated; last checked 2026-11-03.

EE Estonia

Sole proprietor. Registration: optional (No registration needed with an 'ettevõtluskonto' (entrepreneur account). Turnover is taxed 20% at source up to EUR 25,000 a year and 40% above. Sole-trader (FIE) registration is optional.). Cost $23, annual $0, about 1 days, online: yes. Two options: the entrepreneur account, a bank account that withholds tax automatically with no bookkeeping, or 'füüsilisest isikust ettevõtja' (FIE, sole trader). The FIE state fee is roughly EUR 20 (estimate). Register: https://ariregister.rik.ee/eng

Company. Private limited company (osaühing, OÜ): government fee $307, typical all-in $400, minimum capital $0, annual compliance about $1,200, about 1 days, online: yes, 100% foreign ownership: yes, local director required: no. Official state fee EUR 265 for online registration, usually done within 15 minutes to 1 hour. Minimum share capital is EUR 0.01. Residents can use their own address; non-resident (e-resident) boards must pay for a contact person, EUR 200-400 a year. Register: https://www.e-resident.gov.ee/start-a-company/

Tax. Corporate 22%, personal top rate 22%, VAT 24% above $46,400. Small-business regime: Entrepreneur account: 20% of turnover up to EUR 25,000/yr, 40% above; no bookkeeping. Corporate income tax applies only on distributed profits (22/78). B2B services to foreign businesses are outside Estonian VAT under reverse charge. B2C digital services to EU consumers go through EU OSS.

Foreign currency. Capital controls: none. Euro area. No restrictions; Wise, PayPal, Payoneer and Estonian banks are all available.

Sources: https://www.e-resident.gov.ee/start-a-company/, https://www.emta.ee/en

Confidence: verified; last checked 2026-11-03.

FR France

Sole proprietor. Registration: before earning (Must declare the activity through the INPI guichet unique before starting. Micro-entrepreneur turnover caps are EUR 77,700 for services and EUR 188,700 for sales.). Cost $0, annual $300, about 7 days, online: yes. 'Micro-entrepreneur' (auto-entrepreneur). Registration is free. Social contributions are a flat percentage of turnover, about 21-26% for services. CFE local business tax applies from the second year (~EUR 100-500). Register: https://procedures.inpi.fr

Company. SASU (single-shareholder SAS) or EURL: government fee $250, typical all-in $1,200, minimum capital $1, annual compliance about $2,900, about 10 days, online: yes, 100% foreign ownership: yes, local director required: no. Government costs (EUR 220): mandatory legal-notice publication (EUR 140-200), registry fee (EUR 37) and beneficial-owner declaration (EUR 21). Minimum capital EUR 1. An accountant is effectively required for annual accounts. Register: https://procedures.inpi.fr

Tax. Corporate 25%, personal top rate 45%, VAT 20% above $41,981. Small-business regime: Micro-entrepreneur flat social charges with optional 'versement libératoire' income tax (1-2.2% of turnover); 15% CIT on first EUR 42,500 of profit for SMEs; VAT franchise. The VAT franchise threshold for services is EUR 37,500 (tolerance EUR 41,250), unchanged for 2026. B2B services to non-EU/EU businesses are reverse-charged or outside scope. A 4% high-income surtax (CEHR) comes on top of the 45% top rate.

Foreign currency. Capital controls: none. Euro area; no controls. Foreign bank accounts, including Wise and PayPal, must be declared on the annual tax return (form 3916).

Sources: https://procedures.inpi.fr, https://www.autoentrepreneur.urssaf.fr, https://entreprendre.service-public.gouv.fr/vosdroits/F21746, https://taxsummaries.pwc.com/france/corporate/other-taxes, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: estimated; last checked 2026-11-03.

GE Georgia

Sole proprietor. Registration: before earning (Register as an Individual Entrepreneur at the Public Service Hall/NAPR before trading, then apply for 'small business' status at rs.ge. The 1% rate applies up to GEL 500,000 annual turnover.). Cost $10, annual $0, about 1 days, online: yes. 'Individual Entrepreneur' (ინდივიდუალური მეწარმე) with Small Business status: 1% tax on gross turnover up to GEL 500,000 and 3% on the excess. Monthly declaration only; no bookkeeping beyond an income ledger. Register: https://napr.gov.ge

Company. Limited Liability Company (LLC, შპს): government fee $77, typical all-in $300, minimum capital $0, annual compliance about $1,200, about 1 days, online: yes, 100% foreign ownership: yes, local director required: no. NAPR fee GEL 200 for registration in 1 working day or GEL 400 for same day (individual entrepreneur: GEL 26 / GEL 75). No minimum capital. Foreigners can register in person or by power of attorney. An LLC can apply for Virtual Zone Person status (0% CIT on qualifying IT services exported abroad). Register: https://napr.gov.ge

Tax. Corporate 15%, personal top rate 20%, VAT 18% above $38,519. Small-business regime: Small Business status for IEs: 1% of turnover up to GEL 500,000 (3% above); micro-business 0% (no employees, ≤ GEL 30,000). The 15% CIT applies only to distributed profits (Estonian model); dividends carry 5% withholding. Services supplied to foreign clients are generally outside Georgian VAT (place of supply abroad).

Foreign currency. Capital controls: none. No controls; residents can hold USD/EUR accounts. Payoneer is widely used; check current PayPal/Wise availability for Georgian residents.

Sources: https://napr.gov.ge, https://www.rs.ge, https://napr.gov.ge/en/page/fees-and-terms, https://taxsummaries.pwc.com/georgia/corporate/other-taxes, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: verified; last checked 2026-11-03.

DE Germany

Sole proprietor. Registration: before earning (Notify the tax office via the ELSTER 'Fragebogen zur steuerlichen Erfassung' within one month of starting. Commercial (gewerbliche) activities also need a Gewerbeanmeldung; freelancers (Freiberufler) do not.). Cost $30, annual $0, about 7 days, online: yes. 'Freiberufler' or 'Gewerbetreibender' (Einzelunternehmen). Trade registration costs about EUR 20-60 by municipality. Kleinunternehmerregelung (since 2025): no VAT if prior-year turnover ≤ EUR 25,000 and current year ≤ EUR 100,000. Register: https://www.elster.de

Company. UG (haftungsbeschränkt) or GmbH: government fee $450, typical all-in $1,000, minimum capital $1, annual compliance about $4,000, about 14 days, online: yes, 100% foreign ownership: yes, local director required: no. Notary and commercial-register fees for a UG using the Musterprotokoll are about EUR 300-450. A GmbH needs EUR 25,000 capital (EUR 12,500 paid in). Online notarisation by video is possible. IHK membership, Transparenzregister and Bundesanzeiger filings add costs. Steuerberater fees dominate the annual cost. Register: https://www.handelsregister.de

Tax. Corporate 30%, personal top rate 45%, VAT 19% above $27,987. Small-business regime: Kleinunternehmerregelung (VAT exemption, see notes); no turnover-tax regime for income tax. CIT 15% + solidarity surcharge + municipal trade tax comes to about 30% combined. CIT is legislated to fall by 1 point a year from 2028 to 10% in 2032. B2B services to foreign businesses are reverse-charged. The 45% top rate is before the 5.5% solidarity surcharge.

Foreign currency. Capital controls: none. Euro area; no controls. Incoming payments over EUR 12,500 from abroad are reported to the Bundesbank (AWV).

Sources: https://www.elster.de, https://www.handelsregister.de, https://taxsummaries.pwc.com/germany/corporate/other-taxes, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: estimated; last checked 2026-11-03.

GH Ghana

Sole proprietor. Registration: before earning (Business names must be registered with the Office of the Registrar of Companies (ORC); the Ghana Card PIN serves as TIN with GRA; no threshold.). Cost $10, annual $30, about 5 days, online: yes. Sole proprietorship (business name registration). Annual renewal of the business name is required. Small businesses can use the Modified Taxation Scheme (presumptive turnover-based tax). Register: https://orc.gov.gh

Company. Private company limited by shares (Ltd): government fee $100, typical all-in $500, minimum capital $0, annual compliance about $1,200, about 10 days, online: yes, 100% foreign ownership: yes, local director required: yes. No minimum capital for Ghanaian-owned companies (foreign participation needs GIPC minimum USD 200k-500k). At least one director must be ordinarily resident in Ghana, and a qualified company secretary is required. Register: https://orc.gov.gh

Tax. Corporate 25%, personal top rate 35%, VAT 20% above $64,205. Small-business regime: Modified Taxation Scheme: ~3% of turnover for small businesses (below ~GHS 500,000). The VAT Act, 2025 (Act 1151), effective 1 January 2026, keeps VAT at 15% plus NHIL 2.5% and GETFund levy 2.5% (20% total), abolished the 1% COVID-19 levy, decoupled the levies from the VAT base, removed the 3% and 5% flat-rate schemes, and raised the goods registration threshold from GHS 200,000 to GHS 750,000. GRA does not state a separate threshold for service providers (verify with GRA). Exported services are zero-rated.

Foreign currency. Capital controls: reporting only. Bank of Ghana FX rules apply: inward remittances via banks and mobile money are permitted and can be held in FX accounts. Payoneer is widely used; PayPal receiving is limited.

Sources: https://orc.gov.gh, https://gra.gov.gh, https://gra.gov.gh/domestic-tax/tax-types/vat/, https://taxsummaries.pwc.com/ghana/corporate/other-taxes, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: estimated; last checked 2026-11-03.

HU Hungary

Sole proprietor. Registration: before earning (Must register as an individual entrepreneur (egyéni vállalkozó) via Ügyfélkapu+ before starting; no threshold.). Cost $0, annual $1,765, about 1 days, online: yes. 'Egyéni vállalkozó'. KATA (kisadózó) costs a fixed HUF 50,000/month (~USD 147) up to HUF 18M revenue, but since 2022 only for entrepreneurs invoicing private individuals (not businesses). Others typically use 'átalányadó' (flat-rate cost deduction 40-90%). Register: https://nav.gov.hu

Company. Korlátolt felelősségű társaság (Kft.): government fee $147, typical all-in $600, minimum capital $8,800, annual compliance about $2,500, about 2 days, online: yes, 100% foreign ownership: yes, local director required: no. Minimum capital is HUF 3,000,000. A lawyer must countersign and submit the filing electronically (simplified procedure 1 business day). The registration fee is about HUF 50,000. Register: https://www.e-cegjegyzek.hu

Tax. Corporate 9%, personal top rate 15%, VAT 27% above $61,444. Small-business regime: KATA HUF 50,000/month (B2C only, ≤ HUF 18M); KIVA 10% small-business tax; átalányadó flat-rate. The VAT exemption (alanyi adómentesség) threshold is HUF 20M from 1 January 2026 (HUF 18M in 2025), rising to HUF 22M in 2027 and HUF 24M in 2028. B2B services abroad are reverse-charged. PIT is a flat 15% plus 18.5% social security and 13% social contribution.

Foreign currency. Capital controls: none. EU member with no controls; Wise, PayPal and Payoneer work.

Sources: https://nav.gov.hu, https://www.e-cegjegyzek.hu, https://nav.gov.hu/ado/afa/Emelkedik_az_alanyi_adomentesseg_ertekhatara, https://taxsummaries.pwc.com/hungary/corporate/other-taxes, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: estimated; last checked 2026-11-03.

IS Iceland

Sole proprietor. Registration: before earning (Register with Skatturinn as self-employed before starting; VAT registration only once taxable sales exceed ISK 2,000,000 in a 12-month period.). Cost $0, annual $300, about 3 days, online: yes. Self-employed individual ('einstaklingsrekstur'); must calculate a deemed salary ('reiknað endurgjald') and pay payroll/social charges on it. Online registration requires Icelandic electronic ID. Register: https://www.skatturinn.is/english/

Company. Private limited company (einkahlutafélag, ehf.): government fee $1,158, typical all-in $2,000, minimum capital $4,120, annual compliance about $3,000, about 5 days, online: yes, 100% foreign ownership: yes, local director required: no. Minimum share capital ISK 500,000, fully paid at formation. Electronic applications take about 3-5 working days and need Icelandic eID. The registration fee for a new ehf. is ISK 140,500 per the Skatturinn company-register tariff. Managers must be resident in the EEA/EFTA/OECD or get an exemption. Register: https://www.skatturinn.is/english/company-registration/register-a-company/private-limited-companies/

Tax. Corporate 20%, personal top rate 46%, VAT 24% above $16,481. Small-business regime: none (no turnover-based regime; small sellers below ISK 2M are outside VAT). Services supplied to foreign businesses are generally zero-rated or outside the scope of VAT. Foreign sellers of electronic services to Icelandic consumers must register above ISK 2M.

Foreign currency. Capital controls: none. Capital controls were lifted in 2017. Residents can receive USD/EUR via PayPal, Wise or Payoneer and convert freely.

Sources: https://www.skatturinn.is/english/company-registration/register-a-company/private-limited-companies/, https://www.skatturinn.is/english/companies/value-added-tax/, https://www.skatturinn.is/fyrirtaekjaskra/gjaldskra/, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: verified; last checked 2026-11-03.

IN India

Sole proprietor. Registration: above income threshold (No business registration is needed to freelance with a PAN. GST registration is needed above INR 20 lakh of aggregate turnover (INR 10 lakh in special-category states; INR 40 lakh for intra-state supply of goods only). Udyam registration is free and optional). Cost $0, annual $100, about 1 days, online: yes. A freelance professional ('proprietorship') files ITR-3 or ITR-4. Under the presumptive scheme (s.44ADA, carried into the Income-tax Act 2025 from April 2026), 50% of receipts is deemed profit for receipts up to INR 50 lakh, or INR 75 lakh if cash receipts are 5% or less. Udyam MSME registration is free with Aadhaar and PAN (official). Register: https://udyamregistration.gov.in

Company. Private Limited Company (Pvt Ltd) / One Person Company (OPC): government fee $55, typical all-in $180, minimum capital $0, annual compliance about $600, about 7 days, online: yes, 100% foreign ownership: yes, local director required: yes. Formed online with the MCA SPICe+ form. MCA filing fees are nil for authorised capital up to INR 15 lakh, so the cost is mostly state stamp duty and DSCs. At least one director must be resident in India for 182 days. Statutory audits and ROC filings (AOC-4, MGT-7) are mandatory. Register: https://www.mca.gov.in

Tax. Corporate 25.17%, personal top rate 39%, VAT 18% above $21,070. Small-business regime: Presumptive scheme: 44ADA for professionals at 50% of receipts up to INR 50/75 lakh; 44AD for businesses at 6% (digital receipts) or 8% up to INR 2/3 crore. The corporate rate shown is 22% plus surcharge and cess under s.115BAA. Exported services are zero-rated for GST under a LUT when paid in convertible foreign exchange. The VAT figures are GST at 18%. Banks issue FIRC/FIRA receipt certificates.

Foreign currency. Capital controls: reporting only. Under FEMA, export proceeds must be realised within 9 months with purpose codes. PayPal requires India balances to be withdrawn automatically to a bank, while Payoneer, Wise and Skydo all work.

Sources: https://udyamregistration.gov.in, https://www.incometax.gov.in/iec/foportal/help/individual/return-applicable-1, https://www.mca.gov.in, https://www.gst.gov.in, https://taxsummaries.pwc.com/india/corporate/taxes-on-corporate-income, https://taxsummaries.pwc.com/india/corporate/other-taxes, https://taxsummaries.pwc.com/india/individual/taxes-on-personal-income, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

ID Indonesia

Sole proprietor. Registration: before earning (Get an NIB (free, through OSS) and an NPWP. Individual MSMEs pay a 0.5% final tax on gross turnover up to IDR 4.8B, with the first IDR 500M a year exempt). Cost $0, annual $0, about 1 days, online: yes. An individual MSME ('usaha perseorangan') registers free and online through OSS-RBA. The PP 55/2022 0.5% final tax was time-limited for individuals (7 years) but extended by 2025 policy; check the current regulation. Register: https://oss.go.id

Company. PT Perorangan (individual PT) / PT (Perseroan Terbatas): government fee $3, typical all-in $120, minimum capital $0, annual compliance about $500, about 3 days, online: yes, 100% foreign ownership: no, local director required: no. A PT Perorangan is formed online through AHU for an IDR 50,000 PNBP fee with no notary, but only Indonesian citizens running micro or small businesses can use it. A regular PT needs a notary (about IDR 5–10M all-in). A foreign-owned PT PMA needs IDR 10B investment and IDR 2.5B paid-up capital. Companies can use the 0.5% final tax for 4 years. Register: https://ahu.go.id

Tax. Corporate 22%, personal top rate 35%, VAT 12% above $264,500. Small-business regime: PP 55/2022 0.5% final tax on turnover up to IDR 4.8B (individuals get the first IDR 500M exempt); companies with turnover up to IDR 50B get a 50% CIT discount. PPN is nominally 12% but effectively 11% for most services. Certain exported services, including some IT services, are zero-rated. Foreign digital platforms collect PPN.

Foreign currency. Capital controls: reporting only. Bank Indonesia requires reporting, and natural-resource export proceeds must be retained, which does not affect freelancers. PayPal, Wise and Payoneer all work for receiving and converting.

Sources: https://taxsummaries.pwc.com/indonesia/corporate/taxes-on-corporate-income, https://oss.go.id, https://ahu.go.id, https://www.pajak.go.id, https://taxsummaries.pwc.com/indonesia/corporate/other-taxes, https://taxsummaries.pwc.com/indonesia/individual/taxes-on-personal-income, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

IQ Iraq

Sole proprietor. Registration: before earning (Register with the Chamber of Commerce and the General Commission for Taxes before trading. The Kurdistan Region has separate procedures). Cost $100, annual $100, about 21 days, online: no. Sole traders register with the Chamber of Commerce and get a tax file. The process is mostly in person. Register: https://www.mot.gov.iq

Company. Limited Liability Company (LLC): government fee $300, typical all-in $2,500, minimum capital $659, annual compliance about $2,000, about 30 days, online: no, 100% foreign ownership: yes, local director required: no. Registered with the Companies Registrar (Ministry of Trade). Minimum capital is IQD 1M. A lawyer is mandatory, and accounts must be audited by an Iraqi certified accountant. Foreign ownership is allowed but in practice often goes through an investment licence. Register: https://www.mot.gov.iq

Tax. Corporate 15%, personal top rate 15%, VAT 0% (no registration threshold). Small-business regime: The GCT may assess tax on deemed revenue (the higher of deemed tax or 15% of profit). There is no VAT, so the threshold is null. Sales tax applies to selected goods and services. Payments to non-residents may attract withholding.

Foreign currency. Capital controls: approval needed. The Central Bank of Iraq tightly controls USD access through its electronic platform. PayPal and Wise are not available for receiving, and Payoneer is limited. Inbound freelance income usually comes through banks or exchange houses.

Sources: https://taxsummaries.pwc.com/iraq/corporate/taxes-on-corporate-income, https://www.mot.gov.iq, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

IT Italy

Sole proprietor. Registration: before earning (A Partita IVA must be opened with the Agenzia delle Entrate before habitual professional or commercial activity; occasional self-employment (prestazione occasionale) up to about EUR 5,000 does not require one.). Cost $0, annual $400, about 1 days, online: yes. 'Libero professionista' or 'ditta individuale'. Regime forfettario: 15% flat substitute tax (5% for the first 5 years) up to EUR 85,000 revenue, plus INPS contributions (26% gestione separata). Commercial activities also need Chamber of Commerce registration (EUR 53/yr). Register: https://www.agenziaentrate.gov.it

Company. SRL semplificata (SRLS) / SRL: government fee $700, typical all-in $2,300, minimum capital $1, annual compliance about $3,500, about 7 days, online: yes, 100% foreign ownership: yes, local director required: no. A notarial deed is required (no notary fee for SRLS, but registration tax, stamps and chamber fees come to about EUR 600). A standard SRL with notary costs EUR 1,500-2,500. Minimum capital EUR 1 (SRL: EUR 10,000 nominal, EUR 1 allowed). Annual costs include the chamber fee, book-keeping tax (EUR 309) and accountant. Register: https://www.registroimprese.it

Tax. Corporate 24%, personal top rate 43%, VAT 22% above $0. Small-business regime: Regime forfettario: 15% (5% start-up) substitute tax on deemed profit, revenue ≤ EUR 85,000. IRES 24% plus regional IRAP of about 3.9%. Regional and municipal surcharges add to the 43% top rate. Forfettario taxpayers charge no VAT. B2B services abroad are reverse-charged.

Foreign currency. Capital controls: reporting only. Euro area; foreign accounts and assets must be declared in the RW section of the tax return.

Sources: https://www.agenziaentrate.gov.it, https://www.registroimprese.it, https://taxsummaries.pwc.com/italy/corporate/other-taxes, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: estimated; last checked 2026-11-03.

JP Japan

Sole proprietor. Registration: before earning (File a business-opening notification ('kaigyō todoke') with the tax office within 1 month of starting; no threshold. Side income up to ¥200,000 a year for salaried workers needs no tax return.). Cost $0, annual $0, about 1 days, online: yes. 'Kojin jigyō nushi' (sole proprietor). Filing a blue-return application ('aoiro shinkoku') unlocks a deduction of up to ¥650,000 with e-filing and double-entry books. Register: https://www.e-tax.nta.go.jp

Company. Gōdō Kaisha (GK, LLC) or Kabushiki Kaisha (KK): government fee $380, typical all-in $1,000, minimum capital $0, annual compliance about $2,700, about 10 days, online: yes, 100% foreign ownership: yes, local director required: no. GK: registration licence tax 0.7% of capital, minimum ¥60,000, and no notary, about USD 380. KK: 0.7% of capital, minimum ¥150,000 plus about ¥50,000 for notarising the articles, about USD 1,300. Minimum capital ¥1. The ¥70,000 per-capita local inhabitant tax is due even with losses. No resident representative director has been required since 2015. Register: https://www.moj.go.jp/MINJI/minji06_00021.html

Tax. Corporate 23.2%, personal top rate 55%, VAT 10% above $63,333. Small-business regime: SME reduced national CIT 15% on first ¥8M of income; consumption-tax exemption below ¥10M taxable sales (base period). The national CIT rate is 23.2%; the combined effective rate is about 30-34%. Exported services to non-residents are generally zero-rated. Under the 2023 qualified invoice system, B2B clients prefer registered invoice issuers.

Foreign currency. Capital controls: reporting only. No controls; cross-border payments of ¥30M or more are reported to the Ministry of Finance. PayPal, Wise and Payoneer work normally.

Sources: https://www.nta.go.jp/english/, https://www.moj.go.jp/MINJI/minji06_00021.html, https://www.nta.go.jp/taxes/shiraberu/taxanswer/inshi/7191.htm, https://taxsummaries.pwc.com/japan/corporate/taxes-on-corporate-income, https://taxsummaries.pwc.com/japan/corporate/other-taxes, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: verified; last checked 2026-11-03.

JO Jordan

Sole proprietor. Registration: before earning (Register an individual establishment with the Ministry of Industry, Trade and Supply, join the Chamber of Commerce, and get a municipal vocational licence. Sales tax applies from JOD 30k for services). Cost $150, annual $250, about 7 days, online: yes. Sole traders register as an 'individual establishment' (mu'assasa fardiya). Chamber membership and the vocational licence are renewed every year. Register: https://www.ccd.gov.jo

Company. Limited Liability Company (LLC): government fee $550, typical all-in $1,500, minimum capital $1, annual compliance about $1,800, about 14 days, online: yes, 100% foreign ownership: no, local director required: no. Registered with the Companies Control Department; nominal minimum capital is JOD 1. Audited accounts are mandatory, and a lawyer retainer is needed above capital thresholds. Non-Jordanian ownership is capped at 49–50% in some service and trading sectors under the Non-Jordanian Investment regulation, though 100% is allowed in many others. Register: https://www.ccd.gov.jo

Tax. Corporate 21%, personal top rate 25%, VAT 16% above $42,300. Small-business regime: None; the corporate rate shown is 20% plus a 1% national contribution. Exported services are generally zero-rated for GST. ICT companies may qualify for reduced rates or exemptions under investment incentives.

Foreign currency. Capital controls: none. The JOD is pegged to the USD and there are no capital controls. PayPal, Payoneer and Wise work.

Sources: https://taxsummaries.pwc.com/jordan/corporate/taxes-on-corporate-income, https://www.ccd.gov.jo, https://istd.gov.jo, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

KE Kenya

Sole proprietor. Registration: before earning (Get a KRA PIN before trading. Turnover tax covers KES 1M to 25M turnover; below KES 1M normal income tax applies). Cost $7, annual $77, about 2 days, online: yes. A sole proprietorship (business name) registers on eCitizen BRS for KES 950. A county Unified Business Permit costs roughly KES 5,000 to 15,000 a year depending on the county and activity. Register: https://brs.go.ke

Company. Private Limited Company (Ltd): government fee $82, typical all-in $310, minimum capital $0, annual compliance about $800, about 7 days, online: yes, 100% foreign ownership: yes, local director required: no. Registered online on eCitizen BRS for a KES 10,650 registration fee per the BRS fee schedule (an official name search is KES 650 extra). A single director is allowed. ICT companies have faced a 30% Kenyan-ownership guideline from the ICT Authority, so check before setting up a foreign-owned tech company. Register: https://brs.go.ke

Tax. Corporate 30%, personal top rate 35%, VAT 16% above $38,460. Small-business regime: Turnover tax at 1.5% of gross turnover for KES 1M to 25M (Finance Act 2023). Exported services are zero-rated (Finance Act 2023). A 3% significant economic presence tax replaced the digital service tax in December 2024. Resident freelancers pay income tax on platform income.

Foreign currency. Capital controls: none. No exchange controls. PayPal works with withdrawals through M-Pesa, and Payoneer and Wise are widely used. Banks report transfers over USD 10k.

Sources: https://taxsummaries.pwc.com/kenya/individual/other-taxes, https://brs.go.ke, https://www.kra.go.ke, https://brs.go.ke/fee-schedule-companies-registry/, https://taxsummaries.pwc.com/kenya/corporate/taxes-on-corporate-income, https://taxsummaries.pwc.com/kenya/corporate/other-taxes, https://taxsummaries.pwc.com/kenya/individual/taxes-on-personal-income, https://open.er-api.com/v6/latest/USD

Confidence: verified; last checked 2026-11-03.

KG Kyrgyzstan

Sole proprietor. Registration: before earning (Register as an individual entrepreneur (IP) with the State Tax Service before trading. The single tax is available up to KGS 30M turnover; patents cover listed activities). Cost $0, annual $0, about 1 days, online: yes. An individual entrepreneur (IP) registers free. Options are the single tax (rates by activity, lower for non-cash income), a patent, or High Technology Park residency for IT exporters (1% of revenue, 5% personal income tax). Register: https://salyk.kg

Company. Limited Liability Company (OsOO): government fee $30, typical all-in $400, minimum capital $0, annual compliance about $800, about 3 days, online: yes, 100% foreign ownership: yes, local director required: no. Registered with the Ministry of Justice in a few days, with no minimum capital. IT companies can join the High Technology Park. Register: https://minjust.gov.kg

Tax. Corporate 10%, personal top rate 10%, VAT 12% above $343,000. Small-business regime: Single tax for SMEs up to KGS 30M (low single-digit percent of turnover); patents; High Technology Park at 1% of gross revenue. Exported IT services under the High Technology Park pay 1% of revenue with no VAT or profit tax. Non-resident e-service providers register for VAT.

Foreign currency. Capital controls: none. No capital controls. PayPal receiving is limited, but Payoneer and Wise generally work and USD accounts are common.

Sources: https://salyk.kg, https://ht.kg, https://minjust.gov.kg, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

LB Lebanon

Sole proprietor. Registration: before earning (Register with the Ministry of Finance for a tax number before trading. Merchants also register in the Commercial Register; professionals register with their syndicate). Cost $100, annual $150, about 14 days, online: no. Self-employed people register as a 'commerçant individuel' or a liberal professional with the MoF. Most steps are in person. Register: https://www.finance.gov.lb

Company. SARL (Société à Responsabilité Limitée): government fee $500, typical all-in $2,500, minimum capital $0, annual compliance about $3,000, about 30 days, online: no, 100% foreign ownership: yes, local director required: no. Formed through a lawyer, a notary and the Commercial Register; a lawyer retainer is mandatory above capital thresholds. Single-partner SARLs are allowed since 2019. The statutory LBP minimum capital is negligible after the devaluation. An SAL needs a majority-Lebanese board. Register: https://www.finance.gov.lb

Tax. Corporate 17%, personal top rate 25%, VAT 11% (no registration threshold). Small-business regime: Small taxpayers move from the deemed-profit method to a lump-sum method from 1 January 2026 (MoF Notification 4913). The VAT registration threshold was being re-indexed after the devaluation and could not be confirmed, so it is null. Withholding of 8.5% applies to payments to non-residents for services.

Foreign currency. Capital controls: approval needed. Banks impose informal post-2019 restrictions on 'lollar' deposits. New 'fresh USD' accounts and cash are usable, but PayPal and Wise are not available for receiving. Payoneer, OMT and Whish are the common channels.

Sources: https://taxsummaries.pwc.com/lebanon/corporate/taxes-on-corporate-income, https://www.finance.gov.lb, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

LY Libya

Sole proprietor. Registration: before earning (Register in the commercial register and Chamber of Commerce and get a municipal licence before trading). Cost $150, annual $150, about 30 days, online: no. Sole traders register in the commercial register and with the tax department. The process is in person and slow, and the administration is split between rival governments. Register: https://economy.gov.ly

Company. Limited Liability Company (LLC): government fee $500, typical all-in $3,000, minimum capital n/a, annual compliance about $2,000, about 60 days, online: no, 100% foreign ownership: no, local director required: no. Foreign participation generally requires a joint venture with Libyan partners, who usually hold a majority, or a branch under the Investment Law. Minimum capital depends on structure and could not be confirmed, so it is null. Register: https://economy.gov.ly

Tax. Corporate 24%, personal top rate 10%, VAT 0% (no registration threshold). Small-business regime: None. There is no VAT, so the threshold is null. CIT is 20% plus a 4% Jihad tax. Stamp duty applies to contracts. A government surcharge on official FX purchases has applied since 2024.

Foreign currency. Capital controls: approval needed. Central Bank of Libya controls FX, and the official rate differs from the parallel market. PayPal, Wise and Payoneer withdrawals to Libya are effectively unavailable, so receiving foreign income is very difficult.

Sources: https://taxsummaries.pwc.com/libya/corporate/taxes-on-corporate-income, https://cbl.gov.ly, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

MW Malawi

Sole proprietor. Registration: before earning (Register a business name and get an MRA TPIN before trading; VAT registration applies from MWK 25M turnover). Cost $10, annual $30, about 7 days, online: yes. A sole trader (business name) registers with the Department of the Registrar General through its online system and gets a free MRA TPIN. A presumptive or turnover tax applies to small businesses, but the current bands are unverified. Register: https://www.registrargeneral.gov.mw

Company. Private Limited Company (Ltd): government fee $52, typical all-in $400, minimum capital $0, annual compliance about $800, about 10 days, online: yes, 100% foreign ownership: yes, local director required: yes. Formed under the Companies Act 2013. At least one director is believed to need Malawi residency (estimated). Foreign investors also register with MITC. Register: https://www.registrargeneral.gov.mw

Tax. Corporate 30%, personal top rate 40%, VAT 16.5% above $14,340. Small-business regime: Presumptive (turnover) tax for small businesses below the VAT threshold; current bands unverified. Exported services are generally zero-rated. Withholding taxes apply to many service payments.

Foreign currency. Capital controls: approval needed. The Reserve Bank of Malawi controls foreign exchange, and the official rate differs sharply from the parallel market. PayPal does not let Malawian accounts receive money, so Payoneer or Wise into an FCDA account is the usual route. Export proceeds must be repatriated.

Sources: https://www.registrargeneral.gov.mw, https://www.mra.mw, https://www.rbm.mw, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

MY Malaysia

Sole proprietor. Registration: before earning (Register with SSM before trading (some exemptions apply); file income tax with LHDN once chargeable). Cost $15, annual $15, about 1 days, online: yes. Sole proprietorship registration with SSM costs RM30 a year in your own name or RM60 a year with a trade name (official SSM fee table), done online through ezBiz. Freelancers taxed as individuals file Form B. Register: https://ezbiz.ssm.com.my

Company. Private Limited Company (Sdn Bhd): government fee $258, typical all-in $700, minimum capital $0, annual compliance about $1,500, about 3 days, online: yes, 100% foreign ownership: yes, local director required: yes. SSM charges RM1,000 to incorporate and RM50 to reserve a name; the annual return costs RM150 (official fee table). At least one director must ordinarily reside in Malaysia, and a licensed company secretary is mandatory. Audits are required unless the company qualifies for SSM's audit exemption. Register: https://www.ssm.com.my

Tax. Corporate 24%, personal top rate 30%, VAT 8% above $122,850. Small-business regime: SME rates of 15% on the first RM150k and 17% up to RM600k (paid-up capital RM2.5M or less, foreign ownership 20% or less), otherwise 24%; no turnover regime for individuals. The vatRate field shows SST service tax at 8%, with registration from RM500k of taxable services. Foreign digital service providers charge 8% service tax. Exported services generally fall outside SST.

Foreign currency. Capital controls: reporting only. Under Bank Negara foreign exchange policy, residents can freely receive foreign currency through PayPal, Wise or Payoneer and hold foreign-currency accounts.

Sources: https://www.ssm.com.my/Pages/Services/Registration-of-Business-(ROB)/table-of-fees/Table-of-Fees.aspx, https://www.ssm.com.my/Pages/Services/Registration-of-Company-(ROC)/Table-of-Fees.aspx, https://www.hasil.gov.my, https://open.er-api.com/v6/latest/USD

Confidence: verified; last checked 2026-11-03.

MX Mexico

Sole proprietor. Registration: before earning (Register with SAT for an RFC before invoicing. RESICO is available for income up to MXN 3.5M a year). Cost $0, annual $0, about 3 days, online: yes. A 'persona física con actividad empresarial' registers free with SAT. The first e.firma needs an in-person appointment, and CFDI e-invoices are issued free on the SAT portal. RESICO (Régimen Simplificado de Confianza) taxes income received at 1% to 2.5% with no deductions. Register: https://www.sat.gob.mx

Company. Sociedad por Acciones Simplificada (S.A.S.) or S. de R.L. de C.V.: government fee $0, typical all-in $1,100, minimum capital $0, annual compliance about $1,300, about 7 days, online: yes, 100% foreign ownership: yes, local director required: no. An S.A.S. can be formed online for free with a single shareholder, but it has an annual revenue cap of roughly MXN 7M (indexed). An S. de R.L. de C.V. needs a notary, typically MXN 15,000 to 25,000. Accountant fees are about MXN 2,000 a month. Register: https://www.gob.mx/tuempresa

Tax. Corporate 30%, personal top rate 35%, VAT 16% above $0. Small-business regime: RESICO for individuals at 1% to 2.5% of income up to MXN 3.5M; RESICO for companies keeps the 30% rate but on a cash basis. There is no VAT threshold: IVA applies from the first peso. Some exported services are 0%. Digital platforms withhold ISR and IVA from individual sellers.

Foreign currency. Capital controls: none. No capital controls. USD can be freely received through PayPal, Wise or Payoneer and converted. Cash USD deposits are capped, but electronic transfers are not.

Sources: https://taxsummaries.pwc.com/mexico/individual/taxes-on-personal-income, https://www.sat.gob.mx, https://www.gob.mx/tuempresa, https://taxsummaries.pwc.com/mexico/corporate/taxes-on-corporate-income, https://taxsummaries.pwc.com/mexico/corporate/other-taxes, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

MA Morocco

Sole proprietor. Registration: before earning (Auto-entrepreneur turnover is capped at MAD 200k for services and MAD 500k for commerce. Above MAD 80k a year from a single client, the excess is taxed at 30% withholding). Cost $0, annual $150, about 7 days, online: yes. The 'auto-entrepreneur' status is free and registered online or at Barid Al-Maghrib. It pays 1% of turnover for services (0.5% for commerce and crafts) plus mandatory AMO health contributions (about MAD 1,500 a year, estimated). Register: https://ae.gov.ma

Company. SARL / SARLAU (single-member): government fee $255, typical all-in $700, minimum capital $0, annual compliance about $1,500, about 7 days, online: yes, 100% foreign ownership: yes, local director required: no. Registered online through DirectEntreprise or a Centre Régional d'Investissement, with no minimum capital. A minimum tax (cotisation minimale) of 0.25% of turnover, at least MAD 3,000, applies even when the company makes a loss. Register: https://www.directentreprise.ma

Tax. Corporate 20%, personal top rate 37%, VAT 20% above $50,900. Small-business regime: Auto-entrepreneur at 0.5% (commerce) or 1% (services) of turnover; standard CIT is converging to 20% by 2026. Exported services are VAT-exempt with deduction rights. The VAT threshold shown (MAD 500k) applies to small traders; the export CIT regime was merged into the unified rate.

Foreign currency. Capital controls: approval needed. Office des Changes rules require export proceeds to be repatriated. Residents cannot freely hold foreign balances abroad. Payoneer and Wise work, and auto-entrepreneurs receiving foreign payments for services are covered by specific Office des Changes rules.

Sources: https://taxsummaries.pwc.com/morocco/individual/taxes-on-personal-income, https://ae.gov.ma, https://www.tax.gov.ma, https://www.oc.gov.ma, https://taxsummaries.pwc.com/morocco/corporate/taxes-on-corporate-income, https://taxsummaries.pwc.com/morocco/corporate/other-taxes, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

NL Netherlands

Sole proprietor. Registration: before earning (Entrepreneurs must register in the KVK Business Register before or at start; the Belastingdienst then decides on VAT entrepreneur status. No income threshold.). Cost $99, annual $300, about 1 days, online: no. 'Eenmanszaak' (sole proprietorship). One-off KVK fee of EUR 85.15 (2026, indexed yearly). The KOR small-business scheme exempts VAT below EUR 20,000 turnover. Registration requires an in-person appointment or a digital route with DigiD. Register: https://www.kvk.nl/en/registration/

Company. Besloten Vennootschap (BV): government fee $99, typical all-in $1,000, minimum capital $0, annual compliance about $3,000, about 5 days, online: yes, 100% foreign ownership: yes, local director required: no. The BV must be set up by a civil-law notary (deed fees ~EUR 500-1,500). The KVK fee is EUR 85.15. Minimum capital is EUR 0.01. Annual accounts must be filed with the KVK. Register: https://www.kvk.nl/en/registration/

Tax. Corporate 19%, personal top rate 50%, VAT 21% above $23,200. Small-business regime: KOR (kleineondernemersregeling): VAT exemption up to EUR 20,000 turnover; self-employed deductions (zelfstandigenaftrek) for eenmanszaak. CIT is 19% up to EUR 200,000 and 25.8% above. B2B services to foreign businesses are reverse-charged. B2C digital services to EU consumers go through OSS once EU-wide sales exceed EUR 10,000.

Foreign currency. Capital controls: none. Euro area; no controls.

Sources: https://www.kvk.nl/en/registration/registration-fee/, https://www.belastingdienst.nl

Confidence: verified; last checked 2026-11-03.

NG Nigeria

Sole proprietor. Registration: before earning (Register a business name with CAC before trading; individuals' first NGN 800k a year is tax-free under the Nigeria Tax Act 2025). Cost $8, annual $5, about 5 days, online: yes. A Business Name (sole proprietorship) registers through the CAC online portal for NGN 10,500 (NGN 500 name reservation plus NGN 10,000 registration) and needs a Tax ID (free). From 2026, personal income tax follows the Nigeria Tax Act 2025 (0% to 25%). Register: https://cac.gov.ng

Company. Private Company Limited by Shares (Ltd): government fee $13, typical all-in $150, minimum capital $74, annual compliance about $600, about 7 days, online: yes, 100% foreign ownership: yes, local director required: no. CAMA 2020 allows a single shareholder and director. Minimum share capital is NGN 100,000. CAC fees for a small company with issued capital of NGN 1M or less are NGN 500 name reservation plus NGN 10,000 incorporation; about 0.75% stamp duty on share capital comes on top. Annual returns cost NGN 5,000. Companies with foreign shareholders need much higher issued capital (reportedly NGN 100M) for a Business Permit or expatriate quota (estimated). Register: https://cac.gov.ng

Tax. Corporate 30%, personal top rate 25%, VAT 7.5% above $74,300. Small-business regime: Small companies (turnover NGN 100M or less and fixed assets NGN 250M or less) pay 0% CIT and no development levy; others pay 30% plus a 4% development levy. The VAT threshold shown (NGN 100M) is the small-company exemption under the 2025 reforms (estimated); it was NGN 25M before 2026. Non-resident digital suppliers charge VAT, and significant economic presence rules apply.

Foreign currency. Capital controls: reporting only. Since the 2023–24 FX unification, residents can receive USD through Payoneer, PayPal (enabled for receiving) or Wise into domiciliary accounts and convert at market rates. Outbound transfers need documentation.

Sources: https://taxsummaries.pwc.com/nigeria/corporate/taxes-on-corporate-income, https://cac.gov.ng, https://www.firs.gov.ng, https://www.cac.gov.ng/api/download-fees, https://taxsummaries.pwc.com/nigeria/corporate/other-taxes, https://taxsummaries.pwc.com/nigeria/individual/taxes-on-personal-income, https://open.er-api.com/v6/latest/USD

Confidence: verified; last checked 2026-11-03.

PH Philippines

Sole proprietor. Registration: before earning (Register with BIR before earning. The 8% option is available up to PHP 3M gross a year, and BMBE status needs assets of PHP 3M or less). Cost $60, annual $60, about 10 days, online: yes. A self-employed professional or freelancer registers with BIR (Form 1901). Sole proprietors also register a DTI business name (PHP 200 to 2,000) and get barangay and mayor's permits, which vary by LGU. The PHP 500 BIR annual registration fee was abolished in 2024 by the Ease of Paying Taxes Act. BMBE registration at a Negosyo Center exempts BMBE income from income tax. Register: https://www.bir.gov.ph

Company. One Person Corporation (OPC) or Domestic Stock Corporation: government fee $50, typical all-in $700, minimum capital $0, annual compliance about $1,500, about 14 days, online: yes, 100% foreign ownership: yes, local director required: no. Registered online with SEC (eSPARC/eSECURE), then with the LGU and BIR. Domestic-market enterprises over 40% foreign-owned need USD 200k paid-in capital; export enterprises (60% or more exported) are exempt. The corporate secretary must be a Filipino resident. Audited financial statements and a GIS are filed every year. Register: https://esecure.sec.gov.ph

Tax. Corporate 25%, personal top rate 35%, VAT 12% above $47,300. Small-business regime: Self-employed people can elect 8% of gross receipts above PHP 250k (up to PHP 3M) instead of graduated rates and 3% percentage tax; BMBE gives an income tax exemption; domestic corporations with total assets of PHP 100M or less and net taxable income of PHP 5M or less pay 20%. Services to non-residents paid in foreign currency are zero-rated for VAT. Since 2025 (RA 12023), non-resident digital service providers charge 12% VAT.

Foreign currency. Capital controls: none. No capital controls for receipts. PayPal, Wise and Payoneer all work for receiving and withdrawing to PHP or USD accounts.

Sources: https://taxsummaries.pwc.com/philippines/individual/taxes-on-personal-income, https://www.bir.gov.ph, https://bnrs.dti.gov.ph, https://www.sec.gov.ph, https://taxsummaries.pwc.com/philippines/corporate/taxes-on-corporate-income, https://taxsummaries.pwc.com/philippines/corporate/other-taxes, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

RS Serbia

Sole proprietor. Registration: optional (Individuals with foreign-source freelance income can self-assess quarterly (PPDG-1S) without registering. Registering as a 'preduzetnik' with APR is optional, unless running a business.). Cost $15, annual $300, about 2 days, online: yes. 'Preduzetnik' (entrepreneur). Lump-sum taxation (paušal) is available up to RSD 6M turnover, subject to an independence test. Freelancers without registration pay 20% income tax plus contributions on income above a standardised deduction. Register: https://www.apr.gov.rs

Company. Društvo sa ograničenom odgovornošću (DOO): government fee $49, typical all-in $300, minimum capital $1, annual compliance about $1,500, about 5 days, online: yes, 100% foreign ownership: yes, local director required: no. Minimum capital RSD 100. APR registration fee about RSD 4,900. eRegistration is possible with a qualified e-signature. Accountant costs about EUR 100-150/month. Register: https://www.apr.gov.rs

Tax. Corporate 15%, personal top rate 20%, VAT 20% above $80,000. Small-business regime: Paušal (lump-sum) taxation for preduzetnik up to RSD 6M; flat-rate VAT exemption below RSD 8M. Services supplied to foreign clients are usually outside the scope of Serbian VAT. Unregistered freelancers pay 20% plus pension and health contributions.

Foreign currency. Capital controls: reporting only. Foreign currency must flow through a Serbian bank FX account. PayPal receiving and Payoneer are commonly used; conversion is free. Export-related payments are reported by banks.

Sources: https://www.apr.gov.rs, https://www.purs.gov.rs, https://taxsummaries.pwc.com/serbia/corporate/other-taxes, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: estimated; last checked 2026-11-03.

SG Singapore

Sole proprietor. Registration: before earning (Register with ACRA if carrying on business (some freelancers are exempt). Self-employed people must contribute to MediSave once net trade income exceeds SGD 6k). Cost $90, annual $23, about 1 days, online: yes. A sole proprietorship costs SGD 15 for the name plus SGD 100 to register on Bizfile, with renewal of about SGD 30 a year. Only citizens, PRs or eligible pass holders can register one. Register: https://www.bizfile.gov.sg

Company. Private Limited Company (Pte Ltd): government fee $246, typical all-in $1,000, minimum capital $1, annual compliance about $3,000, about 1 days, online: yes, 100% foreign ownership: yes, local director required: yes. Costs SGD 15 for the name plus SGD 300 to incorporate (SGD 315 in total), and the annual return is SGD 60. At least one director must ordinarily reside in Singapore (nominee directors cost about SGD 1,500 to 3,000 a year), and a company secretary is required. Compliance costs shown include a corporate secretary, accounting and tax. Register: https://www.bizfile.gov.sg

Tax. Corporate 17%, personal top rate 24%, VAT 9% above $782,000. Small-business regime: No turnover regime. New companies get a 75% exemption on their first SGD 100k for 3 years, and all companies get partial exemptions. International services are zero-rated for GST (s.21(3)). Overseas digital service providers must register for GST.

Foreign currency. Capital controls: none. No capital controls. PayPal, Wise, Payoneer and multi-currency bank accounts all work freely.

Sources: https://www.acra.gov.sg, https://www.bizfile.gov.sg, https://www.iras.gov.sg, https://www.acra.gov.sg/how-to-guides/setting-up-a-local-company, https://www.acra.gov.sg/register/business/choosing-reserving-a-business-name/reserving-bizfile/, https://taxsummaries.pwc.com/singapore/corporate/taxes-on-corporate-income, https://taxsummaries.pwc.com/singapore/corporate/other-taxes, https://taxsummaries.pwc.com/singapore/individual/taxes-on-personal-income, https://open.er-api.com/v6/latest/USD

Confidence: verified; last checked 2026-11-03.

ZA South Africa

Sole proprietor. Registration: before earning (No CIPC registration needed; register as a taxpayer with SARS (eFiling) and pay provisional tax. VAT is compulsory above ZAR 1M taxable turnover over 12 months.). Cost $0, annual $0, about 1 days, online: yes. Sole proprietor. Turnover Tax (0-3%) is available for micro businesses with turnover up to ZAR 1M. Register: https://www.sars.gov.za

Company. Private company (Pty) Ltd: government fee $11, typical all-in $150, minimum capital $0, annual compliance about $900, about 3 days, online: yes, 100% foreign ownership: yes, local director required: no. CIPC registration is ZAR 125 plus ZAR 50 for name reservation. The annual return is about ZAR 100 for turnover under ZAR 1M. A beneficial-ownership filing is mandatory. The low statutory fees mean all-in costs are mainly the agent. Register: https://www.cipc.co.za

Tax. Corporate 27%, personal top rate 45%, VAT 15% above $60,192. Small-business regime: Turnover Tax for micro businesses (turnover ≤ ZAR 1M): 0-3% of turnover; small business corporation (SBC) progressive rates 0-27%. Services supplied to non-residents outside SA are zero-rated in many cases. Foreign e-commerce suppliers must register above ZAR 1M. The compulsory VAT threshold is ZAR 1M; it was announced to rise to ZAR 2.3M (voluntary ZAR 50,000 to ZAR 120,000) from 1 April 2026 once legislation is promulgated (confirm with SARS).

Foreign currency. Capital controls: reporting only. Exchange control applies: incoming FX is converted via authorised dealers with balance-of-payments reporting. Outflows are limited to the ZAR 1M single discretionary allowance (check for recent increases) plus a ZAR 10M foreign investment allowance with tax clearance. PayPal withdrawals go through FNB.

Sources: https://www.cipc.co.za/?page_id=3786, https://www.sars.gov.za, https://www.cipc.co.za/?page_id=4210, https://taxsummaries.pwc.com/south-africa/corporate/other-taxes, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: verified; last checked 2026-11-03.

KR South Korea

Sole proprietor. Registration: before earning (Business registration with NTS (Hometax) within 20 days of starting. Freelancers providing personal services without premises can instead receive income with 3.3% withholding and no registration.). Cost $0, annual $0, about 1 days, online: yes. 'Gaein saeopja' (sole proprietor). Simplified taxpayer (간이과세자) status below KRW 104M annual sales pays VAT at 1.5-4% of sales, with exemption below KRW 48M. Register: https://www.hometax.go.kr

Company. Jusik Hoesa (stock company, 주식회사): government fee $100, typical all-in $700, minimum capital $0, annual compliance about $2,000, about 7 days, online: yes, 100% foreign ownership: yes, local director required: no. Registration licence tax of 0.4% of capital (minimum ~KRW 112,500) plus 20% local education tax; tripled for incorporation in the Seoul metropolitan area. Minimum capital KRW 100. Online formation is possible via startbiz.go.kr with a digital certificate. Register: https://www.startbiz.go.kr

Tax. Corporate 10%, personal top rate 49.5%, VAT 10% above $0. Small-business regime: Simplified VAT taxpayer (1.5-4% of sales) below KRW 104M; progressive CIT for 2026: 10% up to KRW 200M, 20% to KRW 20bn, 22% to KRW 300bn, 25% above (plus 10% local income tax). CIT is progressive: 10/20/22/25% for fiscal years from 2026 (9/19/21/24% through 2025), plus local income tax of 10% of the CIT rate. The top personal rate is 45% plus 4.5% local tax. Certain services supplied to foreign entities for FX are zero-rated.

Foreign currency. Capital controls: reporting only. Under the Foreign Exchange Transactions Act, banks may ask for supporting documents for large inbound amounts (over ~USD 50,000). PayPal, Payoneer and Wise are used.

Sources: https://www.hometax.go.kr, https://www.startbiz.go.kr, https://www.nts.go.kr/english/main.do, https://taxsummaries.pwc.com/republic-of-korea/corporate/taxes-on-corporate-income, https://taxsummaries.pwc.com/republic-of-korea/individual/taxes-on-personal-income, https://taxsummaries.pwc.com/republic-of-korea/corporate/other-taxes, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: estimated; last checked 2026-11-03.

LK Sri Lanka

Sole proprietor. Registration: before earning (All residents over 18 must obtain a TIN. Register the business with the Divisional Secretariat or Provincial Council before trading). Cost $9, annual $10, about 5 days, online: no. A sole proprietorship registers with the provincial or local business registration office for a small fee. Income tax for individuals is progressive up to 36%, and service-export income is capped at 15% from April 2025. Register: https://www.ird.gov.lk

Company. Private Limited Company (Pvt) Ltd: government fee $60, typical all-in $250, minimum capital $0, annual compliance about $700, about 5 days, online: yes, 100% foreign ownership: yes, local director required: no. Registered online through the Registrar of Companies eROC. Annual audits are mandatory, and the company secretary must be a qualified Sri Lankan secretary. Register: https://eroc.drc.gov.lk

Tax. Corporate 30%, personal top rate 36%, VAT 18% above $180,500. Small-business regime: No turnover regime; export-of-services income is taxed at 15% from April 2025, replacing the earlier exemption. Exported services are zero-rated for VAT, and non-resident digital services carry VAT from October 2025. SSCL of 2.5% applies above LKR 120M turnover. The VAT threshold shown is LKR 60M; a cut to LKR 36M was proposed.

Foreign currency. Capital controls: reporting only. Service-export proceeds must come in through the banking system. PayPal receiving is not available, so freelancers use Payoneer or Wise into local banks. Some post-2022 controls on outflows remain.

Sources: https://www.ird.gov.lk, https://eroc.drc.gov.lk, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

TW Taiwan

Sole proprietor. Registration: above income threshold (Online sellers must register for business tax once monthly sales reach about NT$40,000 (services) or NT$80,000 (goods); freelance professional income can be reported on the personal return without registration.). Cost $32, annual $100, about 7 days, online: yes. Sole proprietorship ('獨資商號') registered with the city/county government. Small-scale businesses (monthly sales under NT$200,000) pay a 1% business tax assessed by the tax office instead of 5% VAT. Register: https://onestop.nat.gov.tw

Company. Company limited (有限公司, Ltd): government fee $50, typical all-in $600, minimum capital $0, annual compliance about $2,500, about 10 days, online: yes, 100% foreign ownership: yes, local director required: no. No statutory minimum capital, but a CPA must verify paid-in capital (~NT$5,000-10,000). The registration fee is 1/4,000 of capital (minimum NT$1,000). Foreign-invested companies need MOEA investment approval; a resident founder does not. Register: https://onestop.nat.gov.tw

Tax. Corporate 20%, personal top rate 40%, VAT 5% above $15,500. Small-business regime: Small-scale business 1% gross business tax (monthly sales < NT$200,000). Exported services used abroad are zero-rated. Foreign e-service providers must register when B2C sales exceed NT$480,000 a year.

Foreign currency. Capital controls: reporting only. Individuals may convert up to USD 5M a year without approval. Transactions of NT$500,000 or more need a declaration form. Receiving via PayPal, Payoneer or Wise to local banks is common.

Sources: https://onestop.nat.gov.tw, https://www.etax.nat.gov.tw, https://taxsummaries.pwc.com/taiwan/corporate/other-taxes, https://taxsummaries.pwc.com/quick-charts/corporate-income-tax-cit-rates, https://taxsummaries.pwc.com/quick-charts/personal-income-tax-pit-rates, https://taxsummaries.pwc.com/quick-charts/value-added-tax-vat-rates

Confidence: estimated; last checked 2026-11-03.

GM The Gambia

Sole proprietor. Registration: before earning (Register a business name and get a TIN with the GRA before trading; VAT applies from GMD 1M turnover). Cost $20, annual $40, about 5 days, online: no. A sole proprietorship registers its business name with the Single Window Business Registry (Ministry of Justice) and the GRA. Municipal trade licences apply. The process is mostly in person. Register: https://www.giepa.gm

Company. Private Limited Company (Ltd): government fee $100, typical all-in $600, minimum capital $0, annual compliance about $900, about 10 days, online: no, 100% foreign ownership: yes, local director required: no. Formed under the Companies Act 2013 through the Single Window Business Registry. Foreign ownership is unrestricted in most sectors. Register: https://www.giepa.gm

Tax. Corporate 27%, personal top rate 25%, VAT 15% above $13,400. Small-business regime: Minimum tax and turnover tax for small businesses below the VAT threshold (rates unverified). Exported services are generally zero-rated. There is little specific guidance on digital services.

Foreign currency. Capital controls: none. No formal capital controls, but PayPal receiving is not available. Freelancers use Payoneer, Wise or remittance companies, and USD liquidity at banks can be thin.

Sources: https://www.gra.gm, https://www.giepa.gm, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

TN Tunisia

Sole proprietor. Registration: before earning (Register with the RNE and get a tax ID before trading; the auto-entrepreneur status is capped at about TND 75k turnover (estimated)). Cost $20, annual $100, about 7 days, online: yes. Options are the 'auto-entrepreneur' status (Decree 2020-33, a single combined tax and social contribution) or a 'personne physique' under the forfait or real regime. Registration goes through the Registre National des Entreprises. Register: https://www.registre-entreprises.tn

Company. SUARL / SARL: government fee $150, typical all-in $700, minimum capital $0, annual compliance about $1,200, about 10 days, online: yes, 100% foreign ownership: yes, local director required: no. A single-member SUARL or a SARL registers through the RNE. Minimum capital was effectively removed (estimated). Most service sectors allow 100% foreign ownership. A statutory auditor is needed above size thresholds. Register: https://www.registre-entreprises.tn

Tax. Corporate 20%, personal top rate 40%, VAT 19% above $33,300. Small-business regime: Auto-entrepreneur single contribution; forfait regime for individuals with turnover under about TND 100k. Minimum corporate tax is 0.2% of turnover (at least TND 500). The Finance Law 2025 raised CIT from 15% to 20%. Exported services are VAT-exempt with deduction rights. Startup Act labelled companies get tax and FX advantages.

Foreign currency. Capital controls: approval needed. Strict Central Bank exchange controls apply. Export proceeds must be repatriated, and PayPal receiving is not available. Online payments use an annual 'carte technologique internationale' allowance, and Startup Act companies can hold foreign-currency accounts.

Sources: https://taxsummaries.pwc.com/tunisia/corporate/taxes-on-corporate-income, https://www.registre-entreprises.tn, https://www.finances.gov.tn, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

UG Uganda

Sole proprietor. Registration: before earning (Get a URA TIN before trading. The presumptive regime applies up to UGX 150M turnover, but professional services are excluded). Cost $22, annual $40, about 3 days, online: yes. A sole proprietor registers a business name with URSB online (UGX 35,000 name reservation plus UGX 55,000 registration) and gets a free URA TIN. A local trading licence is needed. Professionals (consultants, engineers and similar) cannot use the presumptive tax. Register: https://ursb.go.ug

Company. Private Company Limited by Shares (Ltd): government fee $110, typical all-in $450, minimum capital $0, annual compliance about $900, about 5 days, online: yes, 100% foreign ownership: yes, local director required: no. Registered online through URSB's OBRS. URSB charges UGX 35,000 for name reservation and UGX 105,000 to incorporate (nominal capital up to UGX 5M; 1.5% above), plus document filing fees and stamp duty on share capital. Annual returns cost UGX 55,000. A single-member company is allowed. Register: https://ursb.go.ug

Tax. Corporate 30%, personal top rate 40%, VAT 18% above $72,910. Small-business regime: Presumptive tax for small resident businesses with turnover of UGX 150M or less (fixed amounts or turnover rates); professionals excluded. VAT registration is required above UGX 300M annual taxable turnover from 1 July 2026 (previously UGX 150M), or UGX 75M in any three months. A 5% digital service tax applies to non-residents' services to Ugandan customers. Exported services are zero-rated for VAT.

Foreign currency. Capital controls: none. No exchange controls. Payoneer and Wise are commonly used; PayPal receiving is limited.

Sources: https://taxsummaries.pwc.com/uganda/corporate/taxes-on-corporate-income, https://ursb.go.ug, https://www.ura.go.ug, https://ursb.go.ug/business-company-and-document-registration-fees/, https://taxsummaries.pwc.com/uganda/corporate/other-taxes, https://taxsummaries.pwc.com/uganda/individual/taxes-on-personal-income, https://open.er-api.com/v6/latest/USD

Confidence: verified; last checked 2026-11-03.

UA Ukraine

Sole proprietor. Registration: before earning (Register as a FOP before earning. Single-tax limits are set in minimum wages: Group 1 up to 167, Group 2 up to 834, Group 3 up to 1,167 (about UAH 10.1M in 2026)). Cost $0, annual $501, about 1 days, online: yes. A FOP (individual entrepreneur) registers free through Diia or a CNAP office in about a day. Group 3 pays 5% of income without VAT (or 3% with VAT) plus a 1% military levy. Group 2 covers services to individuals and single-tax payers only. The mandatory ESV social contribution is 22% of the minimum wage, about UAH 1,900 a month, which is the annual cost shown. Register: https://diia.gov.ua

Company. Limited Liability Company (TOV): government fee $0, typical all-in $250, minimum capital $0, annual compliance about $1,200, about 2 days, online: yes, 100% foreign ownership: yes, local director required: no. State registration is free and needs no minimum capital; it can be done online using a model charter. A TOV can also choose single-tax Group 3. Diia City residents can choose a 5% tax on distributed profits instead. Register: https://diia.gov.ua

Tax. Corporate 18%, personal top rate 23%, VAT 20% above $21,950. Small-business regime: Single tax: Group 3 at 5% of turnover (non-VAT) or 3% plus VAT, plus a 1% military levy; Groups 1 and 2 pay fixed monthly amounts. Services supplied to non-residents with a place of supply outside Ukraine are generally outside VAT. Non-resident B2C digital service suppliers must register for VAT. The general military levy is 5% from December 2024.

Foreign currency. Capital controls: reporting only. FOPs can freely receive USD and EUR into Ukrainian bank accounts, including from Payoneer and PayPal, and convert them. Under martial law, NBU rules restrict outbound transfers and FX purchases, and export proceeds face settlement deadlines.

Sources: https://taxsummaries.pwc.com/ukraine/individual/taxes-on-personal-income, https://taxsummaries.pwc.com/ukraine/corporate/other-taxes, https://tax.gov.ua, https://diia.gov.ua, https://taxsummaries.pwc.com/ukraine/corporate/taxes-on-corporate-income, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

GB United Kingdom

Sole proprietor. Registration: above income threshold (Register with HMRC for Self Assessment once self-employed gross income exceeds the £1,000 trading allowance in a tax year (deadline 5 October after the tax year).). Cost $0, annual $0, about 1 days, online: yes. Sole trader. Making Tax Digital for Income Tax applies from April 2026 to income over £50,000 and from April 2027 to income over £30,000, requiring quarterly digital updates. Register: https://www.gov.uk/register-for-self-assessment

Company. Private company limited by shares (Ltd): government fee $133, typical all-in $200, minimum capital $0, annual compliance about $1,800, about 1 days, online: yes, 100% foreign ownership: yes, local director required: no. Companies House fee: £100 online (usually within a day) or £124 by post. The confirmation statement costs £50 a year. Identity verification for directors is now mandatory. Accounts and the CT600 are usually done by an accountant. Register: https://www.gov.uk/limited-company-formation/register-your-company

Tax. Corporate 25%, personal top rate 45%, VAT 20% above $119,700. Small-business regime: Corporation tax small profits rate 19% (profits ≤ £50,000); £1,000 trading allowance; VAT Flat Rate Scheme. B2B services to overseas clients are generally outside the scope of UK VAT. B2C digital services to EU consumers require EU VAT through non-Union OSS. Scotland's top income tax rate is 48%.

Foreign currency. Capital controls: none. No controls. PayPal, Wise and Payoneer are all fully available.

Sources: https://www.gov.uk/limited-company-formation/register-your-company, https://www.gov.uk/vat-registration/when-to-register, https://www.gov.uk/register-for-self-assessment

Confidence: verified; last checked 2026-11-03.

US United States

Sole proprietor. Registration: not required (No federal registration needed; self-employment income above USD 400 must be reported (Schedule C/SE). City or county business licences and DBA filings vary by locality.). Cost $0, annual $50, about 1 days, online: yes. Sole proprietor. An EIN is free and optional. Self-employment tax is 15.3% (Social Security portion capped) on top of income tax. Register: https://www.irs.gov/businesses/small-businesses-self-employed

Company. Limited Liability Company (LLC) — e.g. Wyoming: government fee $100, typical all-in $250, minimum capital $0, annual compliance about $700, about 2 days, online: yes, 100% foreign ownership: yes, local director required: no. Wyoming: USD 100 Articles of Organization, USD 60 minimum annual report licence tax, plus registered agent (~USD 25-150/yr). Delaware: USD 110 filing plus USD 300 annual LLC tax. California charges an USD 800 minimum annual franchise tax. A single-member LLC is tax-transparent by default. Register: https://sos.wyo.gov/Business/

Tax. Corporate 21%, personal top rate 37%, VAT 0% (no registration threshold). Small-business regime: None federally; pass-through LLC with 20% QBI deduction for qualifying income. No federal VAT. Sales tax is state-level (0-~10%), and some states tax digital goods/SaaS. Economic-nexus thresholds are typically USD 100,000. State income tax (0-13.3%) adds to the 37% federal top rate. The 21% federal CIT applies only to C-corporations.

Foreign currency. Capital controls: none. No controls. FBAR/FATCA reporting applies to foreign accounts over USD 10,000. PayPal, Wise and Payoneer work fully.

Sources: https://sos.wyo.gov/Business/Docs/BusinessFees.pdf, https://www.irs.gov

Confidence: verified; last checked 2026-11-03.

ZM Zambia

Sole proprietor. Registration: before earning (Register with ZRA for a TPIN before trading; turnover tax applies up to about ZMW 5M a year (estimated, from the 2024 budget change)). Cost $15, annual $50, about 3 days, online: yes. A sole trader registers a business name with PACRA (about ZMW 300, estimated) and gets a free ZRA TPIN. Many professional and consultancy services are excluded from turnover tax and pay income tax instead. Register: https://www.pacra.org.zm

Company. Private Company Limited by Shares (Ltd): government fee $49, typical all-in $300, minimum capital $0, annual compliance about $700, about 5 days, online: yes, 100% foreign ownership: yes, local director required: yes. Formed under the Companies Act 2017 through the PACRA online portal. At least half of the directors must be resident in Zambia. Government fees are estimated at about ZMW 1,000. Register: https://www.pacra.org.zm

Tax. Corporate 30%, personal top rate 37%, VAT 16% above $39,500. Small-business regime: Turnover tax of about 5% on gross turnover for businesses up to about ZMW 5M a year (estimated); a base tax of ZMW 365 a year applies to informal traders. Exported services are generally zero-rated for VAT. Non-resident suppliers of electronic services must charge VAT on sales to Zambian customers.

Foreign currency. Capital controls: none. No exchange controls. PayPal receiving is limited in Zambia, so freelancers usually use Payoneer or Wise and withdraw to a local USD or ZMW account.

Sources: https://taxsummaries.pwc.com/zambia/corporate/taxes-on-corporate-income, https://www.pacra.org.zm, https://www.zra.org.zm, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.

ZW Zimbabwe

Sole proprietor. Registration: optional (There is no national sole-trader register. Register with ZIMRA for a BP number for tax and VAT (VAT from USD 40k turnover). Local authority trading licences apply to premises). Cost $0, annual $100, about 3 days, online: no. Sole traders operate in their own name with a ZIMRA registration and local authority licences. A Private Business Corporation (PBC) is a cheap incorporated alternative. Taxes are payable in ZWG or USD. Register: https://www.zimra.co.zw

Company. Private Limited Company (Pvt) Ltd / Private Business Corporation (PBC): government fee $60, typical all-in $400, minimum capital $0, annual compliance about $1,200, about 7 days, online: yes, 100% foreign ownership: yes, local director required: yes. Formed under the Companies and Other Business Entities Act 2019 through the online registry. At least one director must ordinarily reside in Zimbabwe. Some sectors are reserved for citizens. Register: https://www.zidainvest.com

Tax. Corporate 25.75%, personal top rate 41.2%, VAT 15.5% above $40,000. Small-business regime: Presumptive taxes for informal traders and small operators; no general turnover regime for online services. IMTT of 2% applies to electronic transfers (capped). The corporate rate shown is 25% plus a 3% AIDS levy, and the personal rate is 40% plus the levy. Exported services are zero-rated. The VAT threshold is denominated in USD.

Foreign currency. Capital controls: approval needed. RBZ requires a share of export receipts to be surrendered for local currency (about 30%). PayPal receiving is limited, and USD cash dominates. Payoneer and Wise withdrawals to local nostro accounts are possible.

Sources: https://www.zimra.co.zw, https://www.rbz.co.zw, https://open.er-api.com/v6/latest/USD

Confidence: estimated; last checked 2026-11-03.