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THE MAIN CHARACTERISTICS OF SINGAPORE COMPANY

GENERAL
Type of entity
Private Limited
Type of law
Common
Our time to establish a new company
3-5 days
Minimum government fees (excluding taxation)
SGD 365
Corporate Taxation
17% + tax cuts
Double taxation treaty access
Yes
SHARE CAPITAL OR EQUIVALENT
Standard currency
SGD $
Permitted currencies
Any
Minimum number of issued shares
One
Minimum paid up
SGD 1
Usual authorised
SGD 100 000
DIRECTORS OR MANAGERS
Minimum number
One
Local required
Yes – One
Publicly accessible records
Yes
Location of meetings
Anywhere
MEMBERS
Minimum number
One (Corporation or Individual)
Publicly accessible records
Yes
Location of meetings
Anywhere
COMPANY SECRETARY
Required
Yes
Local or qualified
Yes
ACCOUNTS
Requirement to prepare
Yes
Audit requirements
Yes but there are exemptions
Requirement to file accounts
Yes but there are exemptions
Publicly accessible accounts
Yes but there are exemptions
Other
Requirement to file annual return
Yes
Change in domicile permitted
No

INTEREST OF THE JURISDICTION

Advantages of a company in Singapore

  • No corporate tax – 0%.
  • A very well established jurisdiction that has developed a good reputation as its experience has grown.
  • The legal infrastructure is well developed and the professionals within Panama have actively marketed the jurisdiction over an extended period.
  • Well-known flag of convenience for shipping purposes.
  • No Accounting.

Possible disadvantages of a company in Singapore

  • One of the few non-English language offshore centres.

PRESENTATION OF JURISDICTION

Situated at the gates of East Asia, Singapore is a city-state that comprises 64 islands. Currently Singapore is third-world major financial centre, serving not only domestic economy, but worldwide. These are the most attractive features of Singapore for investors:

  • One of the most economically and socially developed countries in the world;
  • The gate of the Asian financial flow, which transfer access and excellent compatibility into market;
  • Well established business infrastructure;
  • Qualified workforce;
  • Stable political environment.

Singapore jurisdiction is also global company and offshoring friendly, it offers simple and stable solution with numerous benefits:

  • Low corporate tax rate, subject to be reduced to 0%.
  • Wide tax treaty network.

Singapore based holding companies can benefit from all of this and optimize their taxes reducing the withholding taxes in dividends and interest and royalties offered by these tax treaties.

Singapore tax jurisdiction can be more beneficial for certain individuals and activities.

HOW TO
PROCEED

To incorporate or purchase a company the following documentation should be provided:

01

A completed application form signed by the company or by the representative

03

A personal bill, which is less than 3 months old from the date of the application

02

Copy of valid passport

04

Payment of our fees

Note: additional documents may be required depending on the certain offshore bank.

Set-up time: From the moment, we are in possession of all required documents:

3 days

Incorporation of
a company or purchase
of an existing company

15 days

Delivery of the original
company documents

3 weeks

Offshore Bank: offshore
bank account opening