Key benefits

Singapore is one of the leading international financial centers in the region. Incorporating a company in Singapore can provide a tax efficient corporate structure in order to conduct international business.

Singapore is a city state located at the southern tip of the Malaysian Peninsular with a population of approximately 4.8 million. It is known as one of the four ‘Asian Tigers’ and is the major center for business and trade within the region.

The official business language in Singapore is English but Mandarin and Malay are also widely spoken. The work force is well educated and hard working with a high level of expertise. Singapore is one of the leading international financial centers in the region and offshore investors will find most of the major banks present along with numerous financial institutions, investment management companies and accounting and legal firms.

The single ruling party since independence in 1965 is the people’s action party. the government effectively plans and manages the social and economic development of the country resulting in Singapore becoming one of the most politically stable and corruption free countries in the world.

In 2006 a study by KPMG rated Singapore as one of the most competitive business locations amongst industrialised countries in the world. The World Bank’s ‘Doing Business 2011′ study has also recently concluded that Singapore is the best country in which to run a business. The study rates 183 countries on the ease of which they allow firms to operate using criteria such as how easy it is to start a business, get credit etc.

There are various benefits attached to incorporating a Limited Liability Singapore company.

Some of these benefits are listed below:

  • English is the official business language and therefore all company reports are produced in English and all information is available in English.
  • Common law is in place.
  • Singapore is a world leader in foreign trade and investment and has one of the best business environments in the Asia Pacific region.
  • Singapore is the best country in which to run a business according to a recent world bank study and it has been named as having the most open economy for international trade and investment and least corrupt economy in the world.
  • Singapore has one of the most highly developed and well-regulated financial centres in the world which has been built on the highest regulatory and prudential standards.
  • The Singaporean tax system is straightforward and stable.
  • There are no restrictions for foreigners to be shareholders or Directors of a Singapore company.
  • The incorporation process for a Singapore company is quick and efficient.
  • No minimum requirements for share capital.
  • Only one Director and Shareholder is required to form a limited liability company.
  • There is a concept of territorial taxation where foreign source trade profit is not subject to Singapore income tax if it is not repatriated in Singapore.
  • There is no capital gains tax in Singapore.
  • Foreign dividends are not subject to Singapore income tax.
  • Tax credits for foreign tax paid are available in Singapore. However, they are is subject to some conditions.
  • There are some partial income tax exemptions available in Singapore.
  • There is no net worth tax in Singapore.
  • Intensive double tax agreement system with more than 60 agreements signed and ratified with other countries.

Take the next step, we are here to help.

Register a Singapore company.
Open a Singapore bank account.

  Resources:

 

Cyprus: The Gateway to Europe

Cyprus has been a cornerstone of the international development of Eltoma Corporate Services and has served as the doorway for many companies to enter into the European market and to establish international business exposure.

The Tier 1 Investor Visa: are the UK government checking candidates' source of wealth? Evidently not..

The Tier 1 Investor Visa: are the UK government checking candidates' source of wealth? Evidently not..

One of many legal disputes resulting from the recent infamous Kazakhstan BTA bank fraud case has shed new light on a little-known immigration scheme colloquially known as the golden visa scheme and officially called a Tier 1 Investor visa in the UK; the scheme grants investors residency in exchange for spending £2m in UK bonds or shares through a bank, with applicants eligible for to remain indefinitely, with full citizenship after five years.

EU release list of tax havens & blacklisted jurisdictions for the first time

EU release list of tax havens & blacklisted jurisdictions for the first time

In an attempt to recover the approximate 600B euros lost within various EU countries to tax evasion schemes each year; the European Union has released its first official blacklist naming 17 jurisdictions that have failed to meet international standards of implementing sufficient regulations and transparency measures.

A beginners guide to filing capital statements in Cyprus

A beginners guide to filing capital statements in Cyprus

This article details a beginners guide to capital statements; what to include in them, what the figures mean and how to understand and interpret them; avoiding common pitfalls many individuals experience along the way with filing their own.. Capital statements (also referred to as wealth statements) are similar to profit & loss sheets for a company except capital statements are typically used to measure and record an individual’s finances using an official document accumulated on differing dates.

The Cyprus Passport by Investment scheme: at who's expense?

The Cyprus Passport by Investment scheme: at who's expense?

Cyprus Minister of Finance Mr Harris Georgiades released a statement condemning critics of the Cyprus passport by investment programme that has seen raise over €4 billion since the launch of the scheme in 2013 which was implemented to attract foreign investment to mitigate damage in light of the banking crisis.

Cyprus Variable Capital Companies: AIFs

Cyprus Variable Capital Companies: AIFs

There are two types of Variable Capital Companies in Cyprus; UCITS and AIFS. Read on to find out more about Alternative Investment Funds.

Cyprus Variable Capital Companies: Open-Type UCITS

Cyprus Variable Capital Companies: Open-Type UCITS

There are two types of VCCs in Cyprus; UCITS which we will discuss in the following article, and AIFS.

 

Protection of Nominee Directors from IRD claims for Cyprus client companies

Legislation re Cyprus Tax Residency: