Singapore is a country with a developed infrastructure and economy. It is one of the biggest harbors of the world with the lowest corruption level. Singapore is an onshore zone. It is popular among investors because it is easy to have business here and the banking system is one of the largest in the world. The country constantly improves itself. It adapts itself to economics changes with flying colors. Business meetings and operation are done in English.
Country’s jurisdiction advantages
- There is possibility to get a residence permit
- Taxation stimulates business.
- Developed economy and taxation system.
- Solid international reputation.
- Country is not listed in black lists.
- It is a financial center.
- It has world's most reliable banks operation on its' territory.
- Incorporation and services professional standard are available.
- External investors have privileges.
- Confidentiality is protected.
- High living standards.
Country’s jurisdiction disadvantages
- Company's shareholder should be a resident of Singapore
- Annual financial report should be submitted.
Types of companies available
Exempt Private Company (EPC) and Limited Liability Partnership (LLP) - can have business anywhere in the world.
Who will benefit the most
International trade companies pay no taxes at all.
- Name should contain: “Private Limited” or “Pte Ltd”.
- Startup paid capital should be 1000 SGD.
- 20 shareholders maximum.
- At least 1 director and one secretary should be available.
- Company's registration address should be available.
- Tax documents set, audits undertaken and tax report should be in place.
- Annual shareholders meeting should be held
Tax in paid only from revenues, received on the territory of Singapore. Corporate tax is 17%, paid royalties - 10%, interest - 15%