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Singapore Offshore Company

About Singapore

The Republic of Singapore is situated at the end of the Malay Peninsula and is the smallest nation in Southeast Asia. The region benefits from political stability and has a corporate environment which promotes business operations.

Singapore is favoured by entrepreneurs around the globe for its comprehensive, well-established offshore services. These offshore services include incorporation of companies, offshore banking, and the formation of offshore trusts among other highly desirable services.

Singapore is renowned as one of the world’s most popular international financial centres. It has a territorial tax regime, which means companies will only be taxed on capital gains derived from business conducted within Singapore. Revenue from offshore business operations remains untaxed.

Benefits of Setting up an Offshore Business in Singapore

  • Strong political stability with the fourth largest foreign exchange trading centre in the world
  • Great flexibility in international business operations. No restriction on individuals or business entities to move currencies
  • 100% foreign corporate ownership
  • Attractive tax obligations and benefits for foreign entities
  • All income generated or sourced from outside of Singapore by a business entity is exempted from income tax
  • Company formation is fast, with most cases taking roughly 2 days
  • Limited liability vessels available
  • Auditing exemptions if the offshore entity:
    • Has less than 20 shareholders
    • Has no corporate shareholders
    • Annual turnover does not exceed SG $5,000,000
    • Is dormant and has not begun any business activities

Key Corporate Features

General
Type of CompanyResident/Non Resident, Private Limited
Time to establish a new company2-5 days
Share capital or equivalent
Standard currencySGD$
Permitted currenciesAny
Minimum paid upS$1
Directors
Minimum numberOne
Local requiredYes - one
Publicly accessible recordsYes
Location of meetingsAnywhere
Shareholders
Minimum numberOne (Corporation or Individual)
Publicly accessible recordsYes
Location of meetingsAnywhere
Company Secretary
RequiredYes
Local or qualifiedYes
Accounts
Requirements to prepareYes
Audit requirementsYes but there are exemptions
Requirements to file accountsYes but there are exemptions
Publicly accessible accountsYes but there are exemptions
Other
Requirement to file annual returnYes
Change in domicile permittedYes

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