Company Formation Singapore
Articles

FAQ on Offshore Companies in Singapore

Updated on Thursday 30th March 2017

Rate this article
5 5 1
based on 2 reviews


FAQ-on-offshore-companies-in-SingaporeSingapore has become a very appealing investment center for enterprises and companies all over the world. Among the factors mentioned by these, the low taxation system, as well as the ease of the company registration process in Singapore were the most often quoted. While some of the investors prefer the classic limited liability company, the number of those choosing the Singapore offshore company has also increased in the last several years. However, most of the times opening an offshore company in the city-state gives room to a lot of questions.

Our Singapore company formation specialists have answered the most frequently asked questions on offshore companies below:

1.What is an offshore company?

The Singapore offshore company is a company registered in the city-state, but offering its services or selling its products outside the country. In Singapore, the offshore company is also known as a non-resident company.

2.What do I need to open an offshore company in Singapore?

The requirements to open a Singapore offshore company are the same as for any other type of company. Apart from you in the quality of shareholder, a director and a secretary are also required.

3.Do I need a visa to open an offshore company in Singapore?

Yes, as a foreign investor, you will need a visa to open an offshore business in Singapore. You can choose between the employment and the entrepreneur passes. Our company formation agents in Singapore can assist with the enterpriser visa.

4.Do I need a local partner or sponsor to open my own Singapore offshore company?

No, you don’t need a local partner or sponsor, however a local agent who will be in charge with the Singapore company formation process and keeping in touch with the authorities must be appointed. For this purpose, you can rely on the services offered by our Singapore consultants.

5.How long does it take to register an offshore company in Singapore?

The registration of an offshore company in Singapore takes the same as for any other type of company. The average amount of time to open a Singapore company is 5 working days, however the timespan usually depends on how soon the paperwork is ready.

6.What is the minimum amount required to set up an offshore company in Singapore?

There are no minimum share capital requirements to establish an offshore company in Singapore.

7.Do I need any license for an offshore company?

Considering the company’s activities will be carried outside Singapore, there are no licensing requirements for an offshore entity.

8.What taxes will my offshore company pay in Singapore?

Offshore companies are destined to operate outside their country of residence and this principle also applies in Singapore; therefore, a Singapore offshore company will be exempt from paying taxes in Singapore.

9.Are there any accounting requirements for a Singapore offshore company?

Even if no taxes must be paid in Singapore, as any other company registered with ACRA, an offshore entity must follow the same accounting regulations and file annual financial statements with the tax authorities in the city-state.

10.What are the benefits of offshore companies in Singapore?

Singapore offshore companies have a lot of benefits, among them being the possibility of using them as holding companies or for tax advantages. When it comes to taxes, an offshore company in Singapore will pay no withholding or any capital gains taxes.

We kindly invite you to contact our company registration agents in Singapore if you have more questions about offshore companies or if you want to know what other advantages this type of entity offers.

 

Comments

There are no comments

Comments & Requests


Please note that client queries should NOT be posted here but sent through our Contact page.

Why choose us?

As a DM Advisory client, you will benefit from the joint expertise of local lawyers and consultants for opening an offshore company in Singapore. 

Company-formation-Singapore-agents.png

Company-formation-Singapore-cost.png

Company-formation-Singapore-24.png

Company-formation-Singapore-1000.png


Call us now at + 852 8191 3385 to set up an appointment with our consultants in Singapore

 

Tax Calculator

tax-calculator-singapore

Testimonials

Francesco-Dagnino.jpg

The experts at OpenCompanySingapore.com helped my clients establish a company in Singapore fast and easy. I would definitely recommend them to any foreign investor interested in forming a company in this Asian jurisdiction.

Francesco Dagnino, Partner of
Lexia Avvocati
www.LawyersItaly.eu

Read more testimonials

We Recommend ClientPedia

This website is marketed by ClientPedia

Banner-Promoting ClientPedia-244px.jpg

We accept online payments

paypal-logo.png