Singapore Companies

A Singapore exempt company or a Singapore offshore company is incorporated under the Singapore Companies Act of 1994. This Act has been amended over the years to provide a more modern type of Company. A Singapore offshore Company is one that carries its business operations outside of the jurisdiction and will gain exemption from paying local taxes on its foreign earnings. Singapore companies can also carry out local business operation but will pay taxes on local incomes.

The Singapore exempt company of the Singapore offshore company has important tax advantages in the jurisdiction of Singapore. Singapore offshore companies pay no local taxes on incomes generated outside the jurisdiction of Singapore. Incomes earned locally will be taxed at a low rate of 17% which can be significantly reduced to a low three (3%) if tax credits are granted. There is no capital gains tax, estate tax or withholding tax in the jurisdiction of Singapore. Exempt or Singapore offshore companies are not obligated to submit to the authorities their annual audits. Other companies which qualify for audit exemptions includes companies with the following characteristics: the number of persons or members who make up the Singapore Company should be no more than twenty (20) individuals, that the members of the company are not corporations and the yearly earning of the Singapore company must not be more than S$5,000,000.

The Singapore offshore company is an ideal business and investment tool since the Singapore company can be used to do business anywhere in the world including Singapore. Added to this is the fact that Singapore offshore Company is a well respected Business Company as well as the jurisdiction is self is a thriving economic hub.

The formation of a Singapore Company can be easily done in Singapore in a very timely fashion. For the Incorporation of a Singapore offshore company just one shareholder and one director is needed according to Companies legislation. The director of a Singapore company must be a resident of Singapore although for certain circumstances the Government of Seychelles issue permission for a non resident to act a Singapore offshore company director. The shareholder of the Singapore offshore company can be a foreigner or a local. The shareholders of Singapore offshore companies can be individuals or corporation. The appointment of a company secretary by a Singapore offshore company is obligatory according to the stipulation of Singapore Companies Act. The company secretary in Singapore must be an individual. Our partners also offer more sophisticated asset protection strategy via Dominica Citizenship.

In the event of searching for details on how to apply for a second citizenship, please do not hesitate to contact our professional group. Going offshore can also mean getting that other tool that guarantees retirement and wealth planning, among other opportunities. Economic Citizenship and Citizenship-by-Investment are two routes to having a second citizenship. For several years, our team has collaborated with a trusted licensed agent who facilitates citizenship applications and advice to interested clients. We welcome requests for information on Citizenship by Investment. There is the St. Kitts Citizenship by Investment and Sugar Investment Diversification Program whereby applicants contribute towards economic diversification or purchase real estate. Becoming a Dominican citizen by naturalization through economic citizenship is done in one of two ways: either through the family option under which the applicant makes a contribution of a stated amount, or via the second option, whereby a single applicant (whether single or married) invests a contribution or in real estate.

For the formation of a Singapore offshore company a Memorandum and Articles of Association must be prepared and be submitted to the Registrar of Companies. The information to be included for filing includes: the names, addresses and nationalities of the shareholders and directors of the company, the name and address of the appointed company secretary, the name of the proposed company, the types of shares to be issued as well as the number of shares to be issued. The Singapore offshore company is a great invest instrument which is very reputable around the world.

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