Offshore Company Formation

There are several benefits to corporations and organizations all over the world that are provided with the Singapore offshore company. Some of the major advantages in having a Singapore offshore company are being listed below:

* The set up of a Singapore offshore company does not convey the image of a tax haven. And with such, opening bank accounts in other countries becomes easy. The international banks are fully aware that an offshore company set up in Singapore is completely legal and subject to strict government regulations and laws.

* As a tax haven, Singapore is not seen as part of it, yet, setting up this type of company in Singapore does offer considerable tax benefits. Without difficulty, global profits of corporate companies can be transferred to Singapore and hence, tax benefits can be enjoyed.

* Singapore is considered to be one of the best offshore service jurisdictions. The registration of a company in Singapore is strengthened by the following: exceptional infrastructure in current technology, very good political stability , governmental support, and extraordinary legal environment with full intellectual property rights.

* The major legislations that govern corporate entities registered in Singapore are: The Companies Act and The Income Tax Act. Besides, the registration of a Singapore offshore company is not a complicated or cumbersome process.

* Registration for the company can either be as a resident company or as a non-resident company. The registration can fall into two: as a foreign branch operation or simply as having a representative office.

* Government does not impose any restrictions on financial transactions and funds transfer of Singapore offshore companies. There is periodic scrutiny of business transactions and careful monitoring on business entities that are related to financial services, media, education and other sensitive business operations that can have an impact on the politics and image of the island.

* A Singapore offshore company enjoys all the powers as a natural resident or as a local company.

* The main official language is English, hence, various legislations and the regulations are easily available in English. The corporate documents are also submitted in English and with this regards, all the related governmental authorities are accepting such. And because of this, there is facilitation for an easier registration process for the Singapore offshore company.

* In Singapore, the corporate tax rate on income sourced is 17% and this is from the assessment year of 2010. The effective tax rate will still be significantly lesser for business entities that are qualified to avail tax incentives. The effective tax rate can vary between 15% and 0% and this is based on these incentives. The Dividends sourced from other foreign countries, profits of foreign branches and service income sourced from other countries are exempted from tax in Singapore.

And take it from there, it gives us a picture on how opening and operating a Singapore offshore company offers immense benefits to all kinds of business entities and entrepreneurs from all over the world. An efficient domicile for companies across a broad range of business sectors, is provided well with Singapore as this also emerged to be a major global finance center.

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Offshore Company Formation