Offshore investments have got a diversified portfolio for the business owners to come forward and invest to maximize their wealth and assets along with tax-exemption benefits. As the different nations are progressing in building a robust offshore base, Singapore, too, is on its way to strengthen the offshore industry by providing numerous options to the business investors. One of the profitable segments that are open to business investors is the incorporation of a holding company.
This guide provides the essentials that are required to set up an offshore holding company in Singapore. If you are looking forward to setting up one, read till the end!
When it comes to an understanding of Holding Company's concept, it can be understood as a legal business entity that is not involved in the dealings of an actual business directly. Instead, it can be called as the business entity that owns an interest in other companies.
A holding company in Singapore can hold different types of assets ranging from intellectual property to artworks. Singapore, as regarded as a popular tax-haven jurisdiction, has provided the complete leverage to the business owners to invest in the holding company segment. In the entire process, the holding company is referred to as the “Parent” company. The company that is wholly owned is referred to as “ Wholly Owned Subsidiary.”
When it comes to the incorporation or establishing a holding company, specific points are to be considered, which includes:
So, by now, you have got an idea regarding the functioning process of a holding company in Singapore. Being a business owner or investor, it becomes highly essential for you to know the benefits that you will be grabbing by setting up a holding company in the region. Few of them includes:
Incorporation of an offshore holding company in Singapore includes the following steps:
The first move is to appoint a certified business expert who is well-versed with the company incorporation process. Dealing with the complete process might turn out to be troublesome along with time-taking. Thus, it is preferred to proceed ahead with experts to carry out the process at ease.
Next, the documentation part will be focused on wherein the essential papers will be submitted to the business advisor, who will present the same to the authorities.
Selecting a rade name is a crucial part as it will reflect your business at a later stage. While proceeding ahead with the company name selection, make sure that it is unique from the market's competitors. For best results, proceed with expert’s guidance.
Singapore offshore holding company requires the business to get approvals from respective authorities. Accounting and Corporate Regulatory Authority (ACRA) is the authority that provides the licenses for the business entity, and thus, it becomes essential for your business to grab the same.
Finally, you need to open an offshore bank account to carry out the business transactions. Opening an offshore bank account is a profitable move as you can invest in cryptocurrency and Forex Trading. To know more about it, here’s a guide on the Advantages of Offshore Banking that will help you to understand the benefits at ease.
The opening of a holding company in Singapore is one of the best moves to focus on offshore company investment. However, it is to be taken care that you discuss the same with your business expert who can help you to deal with the legal compliances.
At Business Setup Worldwide, we take care of the business establishment processes and help our business advisors set up an offshore business in Singapore. Since our inception, we have been helping our clients by providing tailored solutions that have made us one of the top business consultants in the UAE. If you are looking forward to starting an offshore holding company in Singapore, feel free to discuss with our experts. Contact us today-we’d be glad to assist!