8 Reasons for Incorporating Offshore Companies in Singapore

Offshore Companies in Singapore

The step of investing in the business front turns out to be risky and unpredictable.

Before making a final move, any investor or businessmen has thousands of opportunities to re-think. However, after making a final call, it turns out to be impossible to move back to square one.

Since you have landed on this page, it shows that you hold an idea of incorporating an offshore company or holding an offshore account in Singapore.

Before you proceed ahead, you need to utilize intense research and grab more information on the same.

To help you in the process, here’s a guide highlighting the specific reasons that drive business investors to invest in Singapore. However, let’s have a look at the ground rules first!

Singapore Offshore Business Model

The move and growth of the offshore business industry have left its footprints in global investors' eyes.

One of the most advanced and the fastest growing economies of the world, the jurisdiction offers numerous tax advantages to the business investors who initiates the step of starting an offshore business in Singapore.

Apart from the company incorporation, the tax-haven jurisdiction is widely chosen to open an offshore bank account, which again provides numerous benefits to international investors.

Who Should Start an Offshore Company in Singapore?

Business investors or professionals dealing in the following fields are expected to incorporate an offshore business unit in Singapore. A few of the main spheres include:

  • Trading
  • Investment holding
  • Asset Holding
  • Professional services or consultancy
  • Intellectual Property holding
  • Ship management and yacht owning

Reasons Favourable for Singapore Offshore Incorporation

Few of the specific grounds that are beneficial for any investor to invest in Singapore offshore are:

1.Tax-Friendly Regime

Tax is one of the major nightmares for business investors while incorporating a business entity in any foreign jurisdiction.

Singapore provides a tax-friendly environment to business investors that stand as one of the key considerations.

Right from capital gain to withholding and VAT tax, one can enjoy ample benefits.

However, Singapore's tax system is territorially based, and it is chargeable only for business entities who carry out the business operations within the national boundaries.

Gaining insights into the taxation system of a specific jurisdiction turns out to be beneficial. Thus, it is recommended to have a glance at our latest guide: Why Singapore Offshore is a Tax Haven?

2.Reliable Image in the Market

The Singaporean government has been providing numerous flexibilities to the business investors at a global level to come forward and invest in the region.

Be it a tech-based industry or a manufacturing hub; the region holds open space for every market. The offshore business units established in the jurisdiction communicates credibility and stature as a proper legal entity.

3.Ease of Company Incorporation in Singapore

The offshore incorporation process in Singapore is extremely straightforward when continued under the guidance of professional experts.

One has to make sure to submit the correct set of documents that are demanded by the government authority. In general, the following docs are presented to grab the required approvals:

  • A duly filled offshore application form
  • Identity and address proof of the business investors and shareholders
  • Passport size photos of the business investors and shareholders
  • A well-drafted business plan
  • Memorandum of association (MOA)
  • Articles of association (AOA)

A quick and efficient company registration process free of bureaucratic red-tape makes it one of the top choices for offshore business activities.

The business owners also hold the flexibility to opt for a shelf company, which is an easy move to choose a business entity from a list of offshore companies in Singapore.

4.Liberalized Ownership

Singapore receives 100% foreign ownership, as per its liberal ownership policy. The Singaporean government permits a company to have full foreign ownership without restriction in all types of businesses.

Additionally, foreigners looking to register an offshore company in Singapore do not require prior approval from Singapore authorities.

5.Politically Stable Environment

Singapore has the most politically stable environment for the business world. Singapore is Asia’s least bureaucratic country.

Governmental integrity and a professional approach make it attractive for MNCs. According to the Political and Economic Risk Consultancy.

Singapore has been rated as the most politically stable country in Asia. It is often described as rational, pragmatic, transparent, and corrupt-free.

6.Wide Choice of Banking Facilities

As Singapore is one of the leading business hubs globally, the country offers a vast choice of banking facilities for offshore banking.

The entrepreneurs and the investors have the choice to open multi-currency accounts and transfer funds from international banks to local banks and vice versa.

Offshore company formation with bank account packages is easily available in the markets of Singapore. Opening an offshore bank account provides numerous business opportunities to business investors.

To know more, have a look at the Advantages of Offshore Banking that will help you to gain more insights.

8. Big Market for the Investors

The Singapore offshore business is a huge market for the growing business investors who want to start an offshore business in the region.

Right from high-net-worth-individuals who want to secure their assets and wealth generated to professionals who want to invest in Forex trading finds the location a favourable one.

Thus, you can see that the ground has got enormous business opportunities for the emerging and existing business industries.

If you plan to start one on the ground, you are requested to proceed ahead under an expert’s guidance.

Professional experts at Business Setup Worldwide are well-versed with the offshore incorporation process and can help you incorporate your offshore unit in a hassle-free way.

Here’s how business consultants can help to start an offshore company in Singapore.

To know more about the next moves to be taken, feel free to discuss with our business experts.

Contact us today-we’d be glad to assist!

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