Investors looking for offshore destinations to open their companies in have multiple choices. They can set up offshore companies in countries known for the tax advantages they offer or in countries which do not offer the same advantageous conditions but compensate through other measures which help the company owners.
Singapore and Belize are representative for countries where offshore companies can be created under very good conditions. Below, our Singapore company formation agents have prepared a comparison between Singapore and Belize as offshore destinations for starting a business.
Structures for offshore companies in Singapore and Belize
Both Singapore and Belize allow foreign entrepreneurs to open offshore companies, each country providing for specific requirements and benefits for those who set up such companies.
One of the common things is the fact that the authorities allow for the offshore companies to be established as limited liability companies in Singapore and in Belize.
Our Singapore company formation consultants can guide foreigners who want to open limited liability companies in the city-state.
Requirements to set up a Singapore offshore company listed by our experts in company formation in Singapore
No matter the type of structure chosen, the offshore company registration procedure must respect the following requirements:
- – it must have a minimum number of one participant or shareholder;
- – the shareholder must appoint at least one resident director for the Singapore company;
- – the management of the offshore company must be located in Singapore;
- – a company secretary is mandatory when opening an offshore company in Singapore.
The registration process for an offshore company in Singapore takes a few days. Our Singapore company formation advisers can help you register an offshore company in this jurisdiction.
Requisites when opening an offshore company in Belize
Compared to Singapore, those who want to open offshore companies in Belize must comply with the following requirements:
- it is mandatory for the company to have a legal address in Belize;
- the company must have at least one director, who does need to be a Belize resident;
- the minimum number of shareholders required is one, just like in Singapore;
- there is no need for a company secretary for a Belize offshore company.
Compared to Singapore, the registration of an offshore company in Belize takes longer – up to 2 months.
If you are interested in opening an offshore company in the city-state and need help, please contact our company formation advisors in Singapore.