Classic offshores:
Anguilla
Bahamas
Belize
Bermuda
British Virgin Islands
Brunei
Cayman Islands
Dominica
Gibraltar
Isle of Man
Labuan
Nevis
Panama
Samoa
Seychelles
The island of Mauritius

Low Tax Jurisdictions:
Cyprus
Uruguay

Regulations of tax legislation of low-tax jurisdictions implies either tax exemption of income from separate types of activity or the opportunity to calculate profit tax at reduced rates. Sometimes taxation base and as a result amount of the tax payable are equal to zero.
Legislation of these countries gives an opportunity to take advantage of exemption according to Double taxation Agreement that often provide essential tax saving that over and above pays for the expenses for creation and maintenance of the company from a low tax jurisdiction.