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

Type of Company Resident/Non Resident, Private Limited
Time to establish a new company 2-5 days
Share capital or equivalent
Standard currency SGD$
Permitted currencies Any
Minimum paid up S$1
Minimum number One
Local required Yes - one
Publicly accessible records Yes
Location of meetings Anywhere
Minimum number One (Corporation or Individual)
Publicly accessible records Yes
Location of meetings Anywhere
Company Secretary
Required Yes
Local or qualified Yes
Requirements to prepare Yes
Audit requirements Yes but there are exemptions
Requirements to file accounts Yes but there are exemptions
Publicly accessible accounts Yes but there are exemptions
Requirement to file annual return Yes
Change in domicile permitted Yes

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