Estonia vs Jersey: which jurisdiction wins?

Estonia vs Jersey — both credible, very different trade-offs. Below: side-by-side on the variables that actually move the decision.

	Estonia	Jersey
Tax headline	0% on retained earnings, 20% on distributions	0% (10% financial services, 20% utilities)
Formation days	1	5
First-year cost	$1,500	$5,500
Treaties	60+	14+
Substance	Real management required for tax residency	Economic substance for relevant activities
Banking	LHV, Swedbank, EMIs (Wise)	Tier-1 (HSBC, Barclays, Standard Chartered)

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