Offshore Company Formation Singapore
Singapore is slowly becoming the favourite destination for upcoming people in business and entrepreneurs because of its easy tax regimen, its strategic location, its political stability and the various services the country provides. Some of the features of Singapore which attract people in business from all over the world are:
- One of the most comfortable places in the world to set up and conduct business according to the World Bank Group (2018).
- Provides detailed Intellectual Property Protections services and comprises of well-developed Capital Markets and Financial systems
- Low corporate and personal tax rates and a number of tax incentives.
- Broad choice of local and foreign banks to choose from to avail the services
- Ideal location for setting up a business as Singapore provides a very strategic location and allows to establish a foothold in the Asian markets
- Comprises of a thriving cosmopolitan population
Characteristics of Singapore Offshore Company
|
Company Type |
Private Limited Company (Pte Ltd) |
|---|---|
|
Governing Legislation |
Singapore Companies Act of 1963 |
|
Confidentiality |
High level of provides a high level of privacy is provided by Singapore |
|
Accounting Requirements |
Accounting reports need to be prepared annually |
|
Taxation |
No taxation is levied on the profits earned from the financial securities or which are earned abroad. |
|
Stability |
Singapore comprises of a stable jurisdiction and a good reputation |
|
Paid-up capital requirement |
No mentioned requirement of paid up capital |
|
Minimum directors and shareholders |
Minimum one director and one shareholder and one of the directors must be a local. |
|
Company Secretary |
At least one company secretary is required |
|
Legal System followed |
The company is governed under Common Law |