Singapore Offshore Companies
from Maritime International Ltd.
Incorporation of Singapore offshore companies, corporate banking and related offshore company management services.
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SINGAPORE OFFSHORE COMPANIES
The Republic of Singapore is well known as one of the four Asian Tigers. It is a city state located at the southern tip of the Malaysian Peninsula with a population of approximately 4.8 million.
Singapore is a business friendly, International Financial Center, with major banks, hundreds of foreign companies and thousands of expats. It is the 4th largest foreign exchange trading centre in the world and the world's busiest port. The official languages are English, Mandarin, Malay and Tamili. English is the administrative language and is widely spoken.
OVERVIEW OF KEY FEATURES
Like Hong Kong, Singapore has no offshore legislation. Corporate taxes are based on a "territorial" feature. That is, income is only taxed if it is earned in Singapore and/or remitted into Singapore. Therfore, the company should always have its bank account outside of Singapore and conduct all its financial affairs outside of Singapore.
Note that the trans-shipment of goods through Singapore ports by a Singapore company, does NOT make the company taxable.
There are several disadvantages to a Singapore Company, but overall it is an excellent jurisdiction. You will require a resident Singapore Director and a resident Singapore Secretary, so these add to the cost of the jurisdiction. The resident Secretary is included in our fees, the same as in Hong Kong, since the Secretary must perform a number of legal functions and is not just a "passive" Secretary. The "resident" Director can be provided by Maritime International Ltd. at an additional fee, or the client can provide a local Singapore resident, known to them, to be the "resident" Director.
Please be aware that the names of Directors and Shareholders are in the public record. It is important therefore, if privacy is desired, that nominee Directors and nominee Shareholders be used. These are available from Maritime International Ltd., with appropriate Indemnity and Declaration of Trust, protecting the client. The nominees do not sign on the bank account.
Singapore has a GST tax of 7%, which is included in our fees. Check other offers carefully.
Accounts must be kept by the company. Audited accounts are not required if:
Note: If a client wishes to do business in Singapore and earn income in Singapore, it should be structured as a Resident Singapore company, in order to take advantage of the available tax exemptions. Contact Maritime International Ltd. for further details.
Inexpensive accounting services can be provided by Maritime International Ltd. We recommend our "offshore" accounting services rather than keeping accounts in your country of citizenship or residence.
QUICK REVIEW OF SINGAPORE OFFSHORE COMPANIES
SINGAPORE OFFSHORE COMPANY FEES
OFFSHORE COMPANY MANAGEMENT SERVICES AVAILABLE
Nominee Directors & Shareholders, Virtual Office Services, Mailing Address, Basic Account Maintenance, Invoicing and Accounting Services, Employee Contracts, Document Safekeeping and general Corporate services. More details are available on our Management Services page.
The names of the Directors and Shareholders are required to be filed with the Government and they are also available in the public record.
Privacy can be provided through the use of a nominee Director(s) and nominee Shareholder(s). Only the nominee names are filed with the Government and appear in the public record. The Beneficial Owner of the company and the Power of Attorney issued to him/her to run the company, are not required to be filed with the Government or placed in the public record.
The following names require licensing to be used: Bank, Insurance, Assurance, Re-Insurance, Fund Management, Investment Fund, Chamber of Commerce. Names denoting any connection to local, state or national Governments are generally prohibited, as well as politically sensitive names.
SUFFIXES TO DENOTE LIMITED LIABLITY
The following can be used: Private Limited or Pte Ltd. only.
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Offshore companies, asset protection trusts & offshore banking since 1990.
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