The offshore tax haven of Singapore is located at the tip of the Malaysian Peninsula and is well known as a financial center and trade center. Singapore the offshore jurisdiction of Singapore offers Singapore company registration and Singapore offshore banking as well as other offshore services. Singapore registration is reasonable priced and once incorporated the Singapore offshore company can hold operations anywhere in the world including the tax haven of Singapore. Singapore offshore companies are well respected as trade and investment companies. One of the advantages of incorporating an offshore company in the jurisdiction of Singapore is that it is well known as a financial center.
Singapore company registration requires one shareholder and one company director. The director of a Singapore corporation must e a resident of the tax haven. Non residents wishing to become Singapore company directors must first obtain the appropriate documentation form the government. The directors and shareholders for Singapore offshore companies can be individuals of corporations. When registering Singapore offshore companies a Company Secretary must be appointed. The Singapore company secretary must be a resident of Singapore and this secretary must be an individual.
Singapore offshore company registration is completed in approximately seven (7) working days. It is wise to employ a registered agent or lawyer’s office to help in the Singapore company registration as this will make the process go faster and the beneficial owners of the Singapore offshore company will have no need to travel to Singapore for company registration. For Singapore company registration a Memorandum of Association must be completed and submitted to the Registrar of Companies in the jurisdiction. Articles of Association must also be submitted. The requirements for the Memorandum of Association and Articles of Association are listed here.
- The proposed name of the company
- The registered address of the Singapore company
- State if is a limited or unlimited company
- State if is a company limited by guarantee. companies limited by guarantee must agree that the members of the company are willing to make a contributions towards the debts of the company in case of winding up
- The authorized share capital of the company
- The currency in which share capital will be registered
- The number of shares to be issued
- The par value of shares to be issued
- The rights, privileges, voting rights and limitations placed on each type of share
- The names and addresses of the Singapore company shareholders
- The names and addresses of the Singapore company directors
- The names and addresses of the subscribers to the Singapore offshore company
There are many benefits to Singapore offshore company registration. The main one being tax savings. Offshore companies registered in Singapore do not pay local taxes on income which has been gained outside of the offshore tax haven. Singapore offshore companies which have local business operations will be taxed on local profits generated. Singapore tax rate for these Singapore companies is 17.5% this tax rate can be reduced to a lower percentage when tax incentives are added to those companies who qualify. Tax incentives can reduce taxes paid to 0%.
Singapore registrations mean a company which is awarded privacy by legislation. Singapore companies are not obligated to file their annual financial reports it these companies are exempt companies with less than twenty (20) members and the members of the Singapore offshore company are all individuals and not corporations. Singapore exempt companies whose annual profits does not surpass s$5million.
Singapore offshore company registration has many benefits and Singapore offshore companies are well suited for trading.