Located in Southeast Asia, Singapore attracts a number of major businesses with one of the most major ports and fastest-growing economies in the world. Singapore has become an increasingly popular tax haven, especially for Westerners and for those looking to dispose of assets as there is no capital gains tax, especially for asset holding, trade, intellectual property, and more.
Creating an offshore company and ensuring compliance can be confusing and hectic. At Mass Accounting, we work with a team of local agents in Singapore as well as a number of banks, such as HSBC and the FBME bank in Cyprus. This allows us to keep up to date with legal requirements and documentation for creating and maintaining legal and compliant offshore trusts and companies so you don't have to.
Whether you're looking to register your business, establish trusts or bank accounts, or are looking for long-term compliance assistance, we're here to help. Our goal is to create comprehensive, all-in-one services for offshore company formation and management that make the process as simple and easy as possible. To do so, we offer:
The standart pack includes all incorporation documentation and government fees
Registered Office Address
Registered Agent Services
Company Secretarial Maintenance
All Government fees due on incorporation
3500 EURO
Unlike other tax havens, Singapore is not tax-free, however, the country still has many advantages for non-residents. Like Panama and Costa Rica, Singapore's taxation is territorial, allowing residents and non-residents to avoid income tax on overseas pensions or investment income. How a Singapore company is taxed depends on their management control. A residential company will be taxed on income received overseas except for overseas dividends that aren't remitted to Singapore.
Companies in Singapore are free from withholding tax on dividends but do pay 10-15% withholding tax for royalties and interest. Corporate tax rates can also be 15% or higher, but income earned overseas is exempt.
Singapore has a number of double taxation agreements (DTAs) in the Asia-Pacific region as well as with countries in Europe, Africa, and the Middle East such as: Australia, Belgium, China, Finland, France, Germany, India, Indonesia, Japan, Korea, Malaysia, Netherlands, New Zealand, Philippines, South Africa, Sweden, Switzerland, Thailand, UK, United Arab Emirates, Vietnam And more!
Most notably, Singapore is one of the only countries to have a tax treaty with Taiwan. These agreements can have benefits such as reducing or making exempt certain taxes such as those on dividends, royalties, and capital gains in certain circumstances.
Although names of directors, shareholders, and beneficial owners must be publicly available in Singapore, nominee services can be used to maintain confidentiality. Accounts must also be filed and made public.
Singapore no longer offers authorized share capital as of 2006. The minimum number of issued shares is 1. Ordinary shares, preference shares, and redeemable preference shares are all permitted.